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High Rollers!!!
When I invested in QDRX, I knew I was the gambler.
In 1995, at $2 a share, I did not know I was betting on a high roller in a losing streak!
In 1997, at 43 cents a share, I know it.
The management at QDRX is, and always has been, betting on extremely long odds.
To justify the big salaries and high overheads ... management has gambled on bringing in that big $20 million+ contract.
When it hasn't happened with one product, it's on to the next one.
Wimbledon had nothing to do with advertising; sales were not building fast enough to support the salaries of management. Same with Lion Golf.
Vega was sucker bait that was set up for a big gambler.
Bicycle frames, handlebars, lacrosse, hockey - have all been dropped because they could not produce enough revenue for Jim et al.'s salary.
Golf is about to go the way of the others. We only hear about one OEM and their contract is still offstage. If golf doesn't lay a golden egg soon, it's going.
Face up to it Jim et al., sales are built one item at a time. Before you sell in the $1000's you got to sell in the $100's. You build slowly to that $20 million contract with lots of smaller sales. Your management philosophy has always been that you could win that big OEM contract straight off - well you can1t!!
All those lost middle managers - I suppose they told you the same thing. They tell you that it may take 2/3 years to break even on a product line and they are out the door. Malcolm Bash, Kim Coles, Mike Dorf, Ed Stoltenberg - they all probably told you it needs hard work and doesn't happen instantly so they went on to 'other interests'.
What really p---s me off is that every time your gamble did not pay off, you came and took some of my money for the next long bet. You have taken 3/4 of the value of my shares to fund your long odds when you should have been increasing share value by hard work. You used my money to make some stockbroker/offshore outfit rich and to keep up your inflated salary and bonuses!
Just my true opinion based on the facts. This is not intended to harm or defame any person or entity. It is merely for the education of Quadrax's management so they can do better in the future and for the elucidation of the poorer, but wiser, owners of Quadrax stock.
JD |
