With all these Carrots being strung out on Sticks to keep shareholder focus away from the immediate concerns and push them back into the future does not help clear any analogy to a brex.
Case in point, when asked when numerous MOU's were signed when they would be turned into definite deals, the answer was " we expect them to come to fruition within the next few months".
that was 1 year ago.
9 months after the fact , we find out that there may never been intention to convert those deals within said specified time because now the party line is " it is best to sign these deals when we have a product".
Time and time again under the OLD leadeship were we given time lines , false promises , and silence to shareholders while larger shareholders sold out . Now we are getting word that the game plan is once again changing and no one knows what is going on anymore . Yet still no product.
The latest under new management , trying to make things new, only to find out he is apparently cut from the same cloth as his predecesor , Peter touts a plan just after being sworn in to amplify the communications to investors , and to give him until the Fall to show what he has.
Tick tock , nothing yet .
Then in another conference call he states that a Mid Sept update would come out with timelines, then the next day south of the border he mentions a Mid Oct update.
On both counts , he failed to follow through on his first promise and still no product.
In a recent email reply from Mark Kryzan by another Shareholder we get this back from GLE :
Subj: RE: World LP Gas Association Forum
Date: 11/4/02 10:36:51 AM Central Standard Time
From: mkryzan@globalte.com (Mark Kryzan)
To: Aberacine@cs.com
No we did not exhibit. We do not need additional "customers" at this time as we do not have a product. We have the U.S propane industry as a partner/customer
through PERC in addition to Suburban and Superior as direct participants.
When we successfully develop and then demo a product that works, meets performance specifications and is competitively priced, customers will, in our view of the
world, line up.
Signing up partners, many of whom have fairly short time horizons, to a fairly lengthy development partnership, is neither desirable no a fruitful use of our time just now.
Few are interested in any case, and the terms are generally not favourable to Global.
Mark Kryzan
Director, Corporate Affairs
Global Thermoelectric Inc.
(403) 204-6113
web site: www.globalte.com
The carrot is constantly dangled in front of shareholder eyes , yet no product is the party line , and promised communications are empty promises.
Doesn't leave one with a good first impression of Peter Garrett and team. The share price is here for a reason , and will likely stay here for a long time until GLE can dispell it's bad image , which leaves many feeling suspicious. |
