Does anybody know the current standing of the company founder Buzz
Holcomb's bankruptcy court case? (this should be public record, yes)?
Some hard numbers please. Also, what is the level of his involvement
in the company these days? My understanding was that the basic reason
given for buying this stock to begin with when it started out was not
the product itself, but Holcomb's wife, whose family are apparently in
the pharmaceutical distribution business. Thus, I view this as a
double-edged sword: if Holcomb is still in this company, that would
be negative because his shares could depress the price. Also, the SEC
apparently doesn't want him near a public company (that's usually what
those consent decrees mean, one of which Holcomb signed). But if he
is completely out of this company (and that means his wife and her
family as well), then that might be just as bad because it means that
the primary reason given for buying this stock (the favoritism and
emphasis his wife's family would put on distributing the company's
products) would also disappear. Does anybody know how many shares
Holcomb still owns? If none, then to whom did his giant
shareholdings go? If it is creditors, then we are looking at shares
hitting the market for years to come. Due to the bankruptcy situation
of the company's founder, I need (and I think any investor would need)
a complete rundown on this in order to make an investment decision.
Looking and still watching (fortunately never got in), waiting to get
in on hearing positive fundamentals (I didn't view the Walmart news as
a reason to buy because this company's products have been distributed
nationwide in Walmart-type stores (Walmart as well, as I remember) for
years (from Day One as I recall) and the stock still crashed from a
hundred dollars (split-adjusted) to today's18 cents and change (i.e.,
nothing new in this Walmart contract).
Thanks in advance
Hal |
