Post by
Stevemin on Oct 06, 2021 9:10am
The duty of Loyalty for a CEO
So, its time to get serious and explore the real possibility of an investor revolt demanding changes or resignation from CEO Adams. BTW, you folks who are part of the FB investor group (all 1200 of you) hold a ton of power (and shares) and could effect real change within Inmed if you wanted to......
Do you realize that virtually 100% of those who have invested in Inmed (whether private or public investors), and have held, are in the "red" with Inmed. Think about that - Adams - while making close to $1M/yr and making millions on his blowout stock sale in 2018 - has destroyed every long term investor in his company.
The bad thing is, there's nothing to show for it.
Pain program - abandonded
EB - By taking 12 months to JUST ENROLL 20 participants, they are telling us (without telling us) that has now become a "back burner" program.
Glaucoma - That program has been delayed multiple times (remember, two years ago they said they would already be in clinical trials by now. Yet, clinicals trials are still 1 1/2 to 2 years away.)
Integrasyn- This interesting. Prior to the announcement of the Baymedica acquisition, they claimed Integrasyn was the most "flexible, modular approach which leads to optimized yield, time and cost" that incorporated e. coli biosynthesis as well as chemical synthesis.
Then all of the sudden, after the Baymedica announcement, they now say they gain the flexibiity of having access to their "yeast" biosynthesis approach.
This smells like the "e. coli" approach - which for years they touted as being superior - isn't superior and they realized it and had to go to plan B at Baymedica.
Starting to understand why Dr. Sazzad Hossein left. Why Ben Patterson left. Why Blacher left. How abour Dr. Mauro Maccarone - heard from him in the past few years? Nope. They all realized the platform - and the corresponding science - was faulty. But Adams never gave a hint of any problems - he just kept kicking the can, raising money, diluting shareholders, bringing in his buddies to protect him all while getting his fat paycheck and laughing at his investors.
All that wasted money and time. And here we sit - the investors - with nothing.
There's something called the "duty of loyalty" which:
"requires that a CEO always acts in the best interest of a business's shareholders, and that he places that interest above his own in business decisions.
Honestly, has Adams done that?
Comment by
gainwidpatience on Oct 07, 2021 12:38pm
Well!! The guy who is pumping this stock on Twitter and Stocktwits, I found him on Eric's FB friend list. I hope regulators investigates this company to protect the interest of shareholders. Mgmt has destroyed the shareholder value in such a way that we will never recover our invested money.