Hi, gg -
"Having read your recent feelings on the subject, I question why you are still hanging around this pooch.You and I both know the success or failure of this company will not be determined by anything said here on SI or Stockhouse but by the perceptions of the market"
Two reasons for still being here. The first reason is the principle reason:
1 - I still believe in the pipeline: the potential of the drugs, if properly developed and commercialized.
2 - There is still hope that investors themselves - not fund managers, not institutional owners - may change management. Thus: the Movement for Management Change (MMC), and its supporters, who number in the hundreds, and millions of shares. Because support for such change depends on knowledge and understanding of where management has failed, it's important that investors be informed of the negatives, just as I've been equally willing to state the positives.
Some have objected to posts about the failings of management, feeling that it's an attempt to damage the stock. Not so. Let me give you an example:
Those who've been watching the New York Rangers games these days have been treated to the spectacle of disgusted fans yelling "Fire Sather!" as they watch the highly-paid team go nowhere.
Yet, nobody would argue those New York fans who yell "Fire Sather!" want the Rangers to lose. No. They want the team to win. That's why they cry for management change.
Obviously, Dimethaid's lack of success is different than a hockey game, but it's equally important that we understand why we're not winning.
For instance, I think we could all accept the fact that a drug failed to be approved for reasons of toxicity, or ineffectiveness. We invested in pharmaceuticals, and those are the risks.
However, we did not invest in a company where we could have expected management to have a fatal falling-out with Bay Street, such that management neither approaches them for funding they once had, and is not approached by The Street.
For years, Dimethaid has had no access to cost-effective financing, and Dimethaid investors have paid dearly. More important, it's clear that management itself knows The Street has closed the door to Dimethaid, under existing management. That's why they don't even try to get conventional financing. That's why management is forced to misrepresent equity financing, at ruinous rates, as "conventional" financing.
Does The Street know? You bet they do. Who doesn't know ? Dimethaid investors.
We did not invest in a company where we expected management to hide important information. We expected timely and honest disclosure - and we haven't received it.
I recognize that some disagree with the MMC. I support and encourage such disagreement. Any debate on the issue is healthy and serves us all well. In spite of the fact that many feel strongly, by and large we've managed to maintain a civil discourse, and I hope we can continue.
To close, I repeat this commitment, made often in the past: I won't hang around DMX boards and be a basher, should I sell. I've never sold short in my life, and I won't start now. I'm working for change.
Until there's no chance for such change, I'll continue to post - in the hope that we can see a new and better Dimethaid.
Regards,
Jim |
