"Sales were adversely impacted by the departure of several KEY executives,... then it lists ALL the people who left. Furthermore,
"additional employees left the company..." "decrease in morale".
Our auditors resigned... "we did not fit their corporate profile"
(all of a sudden?)
Bob Binsky Chairman and CEO, and Brenda Thompson, President, would
like the shareholders to believe they are not at least part of the
problem. They have a new person in charge of operations, and "have cut
costs on an annual basis by $1,000,000". What were the top two executives doing previously? $1,000,000 savings for a company only doing $8,000,000 in sales is indicative of a company with terrible
management, ie President and CEO. How could it ever get so bad?
Why is the moral so bad there? Why have the shareholders not received
accurate information? The loss of all those employees, their auditor,
etc. is very pertinent information that was available to a select group, but not to the mass group of shareholders. I was told there is no reason for the stock to be declining and that there was no news
to explain the drop from Investors Relations.
Brenda and Bob whom I have never spoken to, declined to take any calls, return any faxes... These were all very courtious. This is a
very small company, and they most certainly can receive calls. I do
everyday.
Quotes are from the 3rd quarter report.
I made a mistake because of all the hypeing of the company by their
market maker. These are not the caliber of people I will associate myself with. |
