The problem isn’t Yacov’s presentation skills. The problem is his decision-making, strategy and vision. Consistently, Yacov's decisions have only ever kneecapped trust in the company, as if raising red flags is his personal KPI.
Quick recap.
Jan 2020: SP touches 20c, with announcement of NMPA clinical trials completed, and all that's required is for data to be collated and filed with China NMPA. (Still waiting.)
May 2020:SP at 7.0c, official denial that GMV will delist from ASX.
July 2020:Otsana goes into liquidation. De Kauwe remains on board.
Aug 2020:SP at 5.0c, official announcement that GMV will delist from ASX.
Oct 2020: SP at 3.9c, GMV delists from ASX.
24 June 2021: Eight months later, after two sets of underwriters eject, with shares consolidated 90:1 (!!), GMVD finally IPO's on Nasdaq. Pitched at $5-$7, GMVD opens at $4.50, closes same day at $3.45 (ASX 5.3c).
30 Sep 2021:no news for 3 months. Zero Twitter, zero website, zero jobs posted. Buys a 15 minute slot on Benzinga web showcase, doesn't prepare for it -- reads slides badly. Presentation touts 16M FitBit sales (!) and Guthy Renker — yet this is supposed to be a medical device? Is it medical or a consumer gadget? Do you buy a Prizma with your ab-roller? If FitBit sales are relevant, how long before FitBit or AppleWatch usurp your functionality? SP closes at $2.24, equivalent to ASX 3.4c.
NMPA data still AWOL. China, site of the purpose-built factory, and all those subsidiaries and MOU's, has been ditched.
De Kauwe still on Board. What does he bring to the party? His ability to raise finance? It didn't help Otsana.
In 2020, the year of Covid, their big move wasn't about the products or customers, but about delisting.
So they delisted -- and here we are -- in order to slash the MC by 80% or 90%? This was the genius plan?
It's Yacov's decision-making and core professional standards that have proven fatal, not his lack of the **. Look at who he surrounds himself with. The son as CTO. Look at his expectations in terms of a company even having a website.
Can you *imagine* choosing to be a client to this outfit?
