Ceapro Inc V.CZO

An investment thesis and the destruction of trust.

[boazklinghorn]

We all had a thesis when we bought this stock, however long ago that was. It would venture is was some variation of the idea that this small company had a unique technology, and that even though it was early in the game there was compelling evidence that this technology actually worked and had the potential to be used in a broad range of applications. When I first saw Ceapro there had been a trial with Pepsico and talk of other multinational partners. I was convinced at that point. Over the next 5 or so years this thesis was destroyed. The technology while consistently interesting in the lab failed to produce anything of economic value. No partnerships were ever signed, with Pepsi or anyone and in that time frame Symrise started to market its own products in competion with CZO which is what always happens if you sit on your but for 5 years, competiton eventually arrives. Anyways the point of all this is that we bought a certain idea and Gilles failed to deliver. It happens, I get that companies fail to achieve the objectives they promised, normally when that happens the board takes action and managers change but not here. Now Gilles wants to change the very thesis that we all invested in. I didnt sign up for this wierd new company. The company I bought had a business propostion I understood. This new thing is just a cobbled together Frankenstien's monster born of greed and opportunism without any synergy or reason to exist. Gilles wants to sell or give away half of the idea we all bought into because he failed to make it work. He wants to annul the thesis that every single stock holder liked and serve us up another fantasy in return. He has failed us in the running of our company and now wants to trash the thesis we all bought into once and for all.  Gilles and Ronnie have ignored shareholders forever they now want to convert Ceapro from a small cash generating enterprise with a cogent business plan into another cash burning monstrosity forever one jump ahead of insolvency. I for one have no interest in taking that poison deal. . OK thats it, I know everyone has already voted and this rant wont change anything but there it is. See y'all on the 12th

[prophetoffactz]

boazklinghorn "It would venture is was some variation of the idea that this small company had a unique technology, and that even though it was early in the game there was compelling evidence that this technology actually worked and had the potential to be used in a broad range of applications." The technology has worked as expected. They want CZO listed on NASDAQ now. Take a hint