With all due respect Joe, I agree with most of your analysis which is why I have been a BIOI bull for a few years now. However, you say that BIOI has a pretty good amount of insider ownership...
This is simply not true. This is one of the few problems I have with this company. Last I counted, management only owns 3 - 4%. That is truly weak. At these levels, management, there friends and family should be snapping up shares like hot cakes, but they are not. I have to ask why not? I have e-mailed but have yet to get anything but a boiler plate response.
In the end I have taken sort of a Warren Buffet approach to BIOI. Money managers and growth experts these are not, but they seem to know what they are doing with the technology. While they care very little for the share holders, they seem to be honest, smart, decent inventors of highly specialized products in a growth industry. Like you, I believe I am buying the whole package at a tremendous discount. This is the Warren Buffet way. No Yahoo or AOL insanity for me. BIOI has real inventory (albeit too much) and real products for real problems. I just wish management would use their own money, buy some shares on the open market, and make it widely known they are doing so to prove us right.
best,
Tim |
