Actually Ray has been in charge for a relatively short time- less than a year, if I remember correctly. Before that his father was in charge. Since he has been in charge, the decision to sell the unused land has been made, they have branched out to harvesting herbs and selling them, revenues have picked up, and this little company seems to be energized.
Since he took over, they seem to have a good plan on all facets of their business and are aggressively pursuing them.
Share price has gone from the $.04-.05 range to the $.12-$.14 range.
When the land is sold, investors will be sure of what the book value is and all uncertainty will be gone. These things all take time.
If I were to give him advice, it would be to get his SEC filings in on time and make sure they are accurate. This has been the worst problem that I have seen with this company from an investors standpoint. (My pet peeve) Get rid of the unwanted, out of date information, and have this annual report out by June 30, not within the automatic 30 day extension or later. This is IMPORTANT to investors, and I still can't see why they F*** around until the last minute to get these reports out.
He also seems to have tried very hard to keep the investors abreast of what was going on, but perhaps he shouldn't have given such specific timetables for completion dates.
All in all I think he is doing fine, learning the ropes and the pitfalls of investor relations, and being in the hot seat.
I for one will be happy to meet him, if ever Madera has it's first annual meeting. If the land sale goes through this year, and they follow through with their plans, we'll probably be sitting in sunny Florida next spring sipping (guzzling) cocktails around the pool, congratulating ourselves (not Ray) on OUR astuteness.
Dave |
