Davis...when I saw the press release earlier today, I had some thoughts I'd like to share. I don't want to forget to thank you for your post re the not held order. I think that should clarify things for the less sophisticated of us.
Looking at the press release,,,what a sorry thing it is for the Company stock to be laid this low because the officers of the Company cannot keep their own financial houses in order. Perhaps they borrowed to exercise stock options, they certainly had time to exit when things were good to pay down some of that margin so that this type of forced selling would not occur. Who of us exposes ourselves to that type of reckless management of financial resources. Everyone knows there are risks in the market and to be overextended or to have all one's eggs in one basket is never prudent. Did you have a margin call? Probably not!
They are borrowing 5 million dollars for operating expenses. Yet this Company spent $400,000 or almost 10% of what it is borrowing on furniture. Could they convert that to operating funds if they wanted to..No, but they could have held off on the purchase to see what their cash flow needs were going to be before making the expenditures. But..back to the well, more borrowing...do you think maybe this time, they'll use the money more prudently or will it be new restrooms, carpeting and wallpaper?
Next thought...this release vindicates Shero to some extent doesn't it. There has been significant insider selling..now couple that with the Darth Vader group and presto whizzo from $5 to $1. Do not pass go..do not collect $200. Still I'm glad that Lon Stone finally stepped to the plate and made a statement. A 1/32 uptick the first since January 1...is there hope?
If there really is an opportunity for licensing and we can get to those trials in Feb. and April, we might just have our faith in the science and the future of this Company renewed. Please.. someone send us a new CEO with the skills it takes for the job. Someone who can exercise enough personal fiscal prudence not to get us into this boat again.
Last question ... how many shares do Stone, Shephard and Moding get to buy from options at this level or lower? |
