Ann: CEO, Director and Senior Executive Update, page-18

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ponzisurvivor

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22/02/19

13:55

Post #: 37532037
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Originally posted by Dazedandconfused: ↑

Hi Session

I was unimpressed when the webinar was cancelled and sold a few. Since then I lightened up some more and now today I decided to crystallize the loss and sold out.

The culture of this company has changed a lot in the last 6 months... it has gone from being transparent to opaque. I no longer have any idea what I owned. Coupled with that I have made big changes in my approach to the market in recent months and now I am only willing to put money into things I can accurately value. I had retained enough shares in FGO to breakeven if things improved but with today's announcement I moved funds to align with my changed philosophy.

The announcement clearly states that Mark Kehoe "advised the company of his resignation". MK is a competent person. He transferred to NY to carry out the role of Chief Commercial Officer which is a big decision to make and now he his reversing that... his leaving the company is not a good thing...imo.

This is the LinkedIn entry for Bob Hilborn and it claims his involvement with FGO as "Head of North American Operations is November 2018 – Present 4 months". The FGO announcement states his appointment begins in March ... so there is a contradiction there. It looks possible that his involvement in the company has been at a high level for a few months, so it is a little difficult to see a radical shift with this appointment being made official.

"Chief Revenue Officer"... not sure I understand that actually. I would be certain CW has been as active as possible in that regard anyway.... the newly invented role of CRO looks a bit of spin.

Fair enough the company is reducing cash burn and has undertaken an internal revue of its marketing strategy. For the time being though, I am now a spectator.

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The LinkedIn entry is a concern, perhaps we will have a newly appointed CEO months before the market is informed, we just need to keep our eyes on LinkedIn to find out what is happening

FGO Price at posting: 1.4¢ Sentiment: None Disclosure: Held
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0 Great analysis

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