I am sure you all got the shareholder letter from Teri Thomas, a whole lot of buzz words and nothingness, with the continued focus on doing good rather than making money. Is it a case of welcome to the new boss, same as the old boss ?
I needed a sick bag for this bit in particular
"Every day I wake up with a desire to make a positive impact; when I die, I want to know that I made the world a bit of a better place. This is what drives me and what led me to accept the CEO role at Volpara." So it had nothing to do with $400,000 base salary then ?
A bit of advice for Teri, we all know that breast cancer is bad, we all know that Volpara does not cure breast cancer but can play, a small, but not insignificant part in bringing about better outcomes for those at risk. We also know that if Volpara did not exist there are other providers that can and do something (maybe not as elegantly or well) similar and would fill the gap.
What we don't know Teri and what you will ultimately be judged on is, can Volpara become cashflow positive in the near to medium term ?, can Volpara grow top and bottom line enough to justify its current shareprice ? Can Volpara treat it shareholder with honesty and respect or are you going to continue treating them like kids ? Use this opportunity to make clean brake .... Yes, yes we get it, breast cancer is bad.
The road to success for you Teri, in my humble opinion, comes with quick and large CR, it almost does not matter what the price is (get it out of the way) and it comes with a plan, that on sensible growth assumptions, moves Volpara on to a clear path to profitability within the next 18 - 24 months. Get rid of the Chairman, throw your toys out of the pram if you have to, it is him or you, I am sure Roger and Ralph will back you. The Chairman is a liability and the fact that he has never bought a share on market, that tells you what he thinks about the value on offer. As an interim get Roger brought back as Chairman. Also buy a decent amount of shares on market to be meaningful it should be @ 100,000 dollars worth (your first 3 months of salary - you were once someone at EPIC so I am sure you can afford it). Do these things and you stand a decent chance of making a success of things. Fail to do these things and the shareprice will fall towards 25c and you will be a sacrificial lamb within 12 months. I wish you the best of luck.
One last thing, although Volpara is essentially an American business your shareholder base is not and what works in America does not and will not translate. We are much more cynical and less forgiving but win us over and we are far more loyal, It will benefit you to be aware of this.
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