Private phone calls to penny stock ceo's are the absolute worst way to perform due diligence. That is common knowledge. If lorsch really wanted to set the record straight, he could have answered the list of questions posted here during his latest "conference call". The questions are listed below. On the record, straight forward answers fully disclosed to everyone are what is needed.
Think about it. For someone who issues one misleading, unfulfilled p/r after another why would anyone believe what he says on a private, off-the-record phone call?
Here is the question list, I'm sure there are many more:
During the last conference call a new person was introduced and it was announced that a deal with AAA was imminent. Neither that person nor any deal was ever mentioned again. What went wrong and why go out of the way to make such an announcement if unable to deliver?
During the last conference call you stated that shipments to Visiinc would resume within a couple of weeks. Did those shipments resume and if not why are you unable to have a handle on something as close as 2 weeks away? Later in 2013 you announced that Visiinc shipments would resume in Q4. With total Q4 revenues for the entire company reported as $57,000 it is clear the Visiinc shipments did not resume in any significant manner. How did you get it wrong again?
Back in 2012 you announced a $17 million contract with Visiinc that promised 100 mmrpro systems per quarter for a period of 3 years. Everyone knows this has not unfolded as announced, but since you have once again announced those shipments would resume this year, do you still expect to ship 100 systems/quarter for 3 years? When will the 1st 100 shipment quarter occur?
Can you explain the $350,000 investment in Visiinc stock that seemed to coincide with a similar amount of revenue reported at the same time?
During the last conference when asked why you announced that the $5 million Rapid Revenue Program had exceeded $5 million in revenues for fiscal year 2012 when in reality it did not come anywhere close to that number, your only response was that the Whole Foods deal made up for that. Yet it is clear that Whole Foods has also not produced anything close to the $5 million in revenues that you p/r’ed as being exceeded in 2012. Why do you repeatedly issue misleading p/r’s and statements like this?
When will revenues from all the settlement and licensing deals be sufficient to end the dilution which continues to erode shareholder value year after year?
How do you justify the sales & marketing expenses that managed to generate $57,000 of revenues in the latest quarter?
What has become of the attempt to sell your products in China?
A former commissioned seller of the MMR horse health record product announced on the internet that this product would generate $100 million in revenues “overnite” back in early 2013 just before the stock made a short-lived run to 12 cents. Subsequently you announced a new person who is in charge of marketing this product. Does this product actually exist and what are the total sales to date?
What happened to the Apple and Android apps which you announced as being “launched” back in 2012 and again in 2013? Why is there no mention of them on your website? In fact, the mmr website shows no signs of any changes for several years. Videos still refer to PDA’s as if they were the latest technology instead of a distant memory from a prior decade. There is also very little spending on R&D reported in recent filings. Is MMR now primarily a patent troll?
Do the highly valued, often referred to patents belong to the shareholders of mmr?
Many people believe companies and their CEOs should under promise and over deliver. In the entire history of the company, in dozens maybe hundreds of p/r announcements about deals, partnerships, spinoffs, and consultant agreements, not a single one has ever delivered the amount of revenues predicted. Why do you continually mislead investors and will you ever do anything to break that dubious record?
