OK, part of my question, (as I was being misinformed by the other CEO) dealt with the FY and the dates. In my inquiry, I specified that the FYE was December 31, and that the R/S was performed "to meet the OTCQB requirements, and that shareholders were being informed by management that once they hit .01, they were golden until May 2015. The response posted is what was sent to those questions.
Now, I'm working with another CEO who did a R/S for a different reason. He held a CC and explained the entire thing: reason for, anticipated outcome, and his personal dilemma with having to even consider it. In the end, it's proving to be the right thing, and hardcore DD is showing that without it, his play was sunk. It was his only move, and he did it right. BUT, he is quick to point out, that he was in over his head, so he found people that were smarter than he was, and got their expertise and experience and did right, the first time.
Isn't this how a CEO is supposed to act? I don't expect any man to be able to do everything by himself. He reveals his character, by identifying his own shortcomings and flaws, and putting people in place to fill those voids, and then allows them to do their job.
Not meaning to discredit the CEO here, but if he didn't fully understand the R/S, he shouldn't have done it. If he did fully understand it, he should have communicated it, and educated his shareholder base. I read a recent post here, blaming the company for a new MM...... and I can tell you, that individual has not gone thru a R/S before, and if they did, they have no idea what goes on "behind the scenes". A little CEO communication can remedy that.
I could go on and on, but a wise man once taught me: Don't invest in the company- invest in the CEO. A good CEO can take a failing company and transform it. He can see that even though he has a good product, it might not be working in this environment, and he will take steps to be profitable, even if that means a whole new business approach (what I thought was going to happen here).
But, if a CEO does not communicate openly with every shareholder, he creates an atmosphere of uncertainty and doubt, and that becomes fear and distrust, and the best that play can hope for is decent volume for flipping and shorting.
I spent a few hours last week, re-reading all the old tweets and the old PRs....... and I gotta tell you......... not liking what I read, and really not liking what I didn't see in the last filing. Something is out of kilter here, IMO. Lots of big events were PR'd, and I'll wager that lots of shares were purchased based upon those PRs, and nothing about any of them was in the last filing. (Big Chow Grill? C'ui? More?) You wanna know why some CEO's don't want to talk to me? I take my ownership seriously and I want a full reckoning in a document that is created for the purpose of "full reckoning".
JMO. I lose money here just like everyone else, but I try to learn to do it better next time. If I can find more winners than losers, I will count that as success.
