Jim, thread, I'm starting to do a l80 with my opinion about REK. Basicly I now believe it would be better if she went or at least give up a large piece of her managerial control. I also think that the BOD needs an overhaul. This is strictly a FWIW post since I have absolutely no influence on events or people .
I have to bore you all with some personal details to convey my thinking. When I first heard about DMX in early Dec of 2001 the first thing I did was get my hands on the 2001 Annual Report. I started putting money in right away and loaded up way too heavily, too quickly over the next couple of months. At that time I thought the plant approval by the FDA was a sure sign that Pennsaid approval would be coming shortly. It didn't and in fairness to REK she never suggessted that it would (according to my recollection).
The other major reason I committed so heavily at that time was this sentence in the AR, page 6, "We expect the results of this study (ph III on WF10) to be available by the end of November 2001..." So I was buying shares in part because I expected these results to be in shortly, even though they were already behind schedule in early 2002.
As a result of my sadly late dd, I learned that the trial was actually still ongoing in Nov 2001. The last data input probably was somewhere around June of 2002. So what the hell was she talking about, results in Nov 01. Was she decieving investors, or was she being misled by the Oxo team. My point is that she is being well paid to know the truth and pass that on to investors.
So why have I been okay with that information up to now. I change my mind slowly, tend to be loyal and make the best of situations (been married to the same great lady for 27 years). The catalyst for my changing opinion was my conversation with Rennee Ho a few days ago. I asked him if Dimethaid still thought it could get the ph III results out in this fiscal year. His answer is that maybe not, it would depend on Pennsaid sales. What!!! From Nov 01 to May June July?? of 2004. What the f*ck is going on here? This is ridiculous. I don't have to know all the explanations; the problems with the RO, the regulators etc, etc. We're only talking about getting trial results here. This woman has no trouble collecting a $325,000 paycheck, and getting herself a million dollar payout clause from a sycophant BOD. I'm sorry Jim, I've lost my patience. She's gotta go, Sather and Fred have to go. And now is as good a time to do it, now that we have some money in the bank. And I have no clue as to how it will happen.
Pat, aka Wildflower10 |
