Hi JG22,
On each of your points:
- The fact that they've been quiet is not the issue, they just dropped the entire paradigm, like many other things, with no notice given to shareholders. Do you own the company or not? Do you deserve an explanation?
- I didn't call him shady for the exact reason you have highlighted. I called the trades shady, whomsoever made them is irrelevant. I try to be careful with my words
- The third point was not mentioned in isolation, but helped build an (IMO) accurate picture of the company. It was mentioned to highlight that the company is very,
very loose with their wordings and commitments. If they don't intend to find a replacement CEO, they should not signal so to the market. If they do intend on finding a replacement, why hasn't it been done after 18 months? In both possible scenarios, the status quo is unacceptable. Remember whether or not they succeed, they still make their 200k salary a year while shareholders foot the bill. You're the only ones not making money. You'd agree that the roles each require decent amount of effort right? Assuming so, one person doing 3 roles has to split their time 3 ways. Might save costs but what productivity would you expect? Also, do you think a company with $5,000 cash receipts and nearly $800,000 in staff costs IN ONE QUARTER is in any position to justify investing $250,000 into some blockchain joint venture which has nothing to do with their primary research focus of bringing a breast cancer predictive test to market? Does any shareholder here have any transparency of what the return on that investment was? I don't see a concerted focus on getting one thing done in this company, instead there is an illusion of multiple parallel projects which have been creeping along for many many years, and will continue to do so for who knows how long, with no return promised in the end. Soon there will be a TRILLION shares on issue.
I remain unconvinced this is a good long term buy, but a high risk short term punt. I still believe a reverse split is somewhat likely.
In the end, the question one has to ask themselves is whether they trust the
misleadership of this company? I have laid out some information to consider, and then for each reader to come to their own conclusion.
All IMHO. I do not hold this stock any longer. DYOR.
(20min delay)