In a number of public posts I have made the statement that Margrit is guilty of both incompetence or malfeasance. Perhaps shareholders or potential shareholders could evaluate the circumstances and judge for themselves, based on the following events:
(1) Margrit promised a famous voice over for the ad that ran in Times Square and is still available for viewing online. No famous individual has yet recast the ad. Incompetence, or malfeasance?
(2) Margrit/Dan announced the hiring of a sales team to hit the streets and promote the product. Not a single individual was ever hired for this purpose. Incompetence, or malfeasance in misleading investors?
(3) Margrit promised early financials for a reporting period, along with a pleasant surprise in the numbers. No report has ever been filed early, and no report has ever shown even respectable numbers, much less anything pleasantly surprising. Margrit had to know that sales were atrocious while she was stating we could expect something positive. Incompetence, or malfeasance?
(4) Margrit stated the Brazil shipment was imminent, then claimed there was an unforeseen issue with tax stamps. Incompetence, or malfeasance?
(5) The Brazil shipment was to be sent to the states to satisfy growing domestic demand. Financials clearly indicate that there is no appreciable growth in demand or sales. Furthermore, the shipment to the US remains undelivered. Incompetence, or malfeasance?
(6) Margrit claimed national ads were coming in various media. This has not materialized. Incompetence, or malfeasance?
(7) Margrit promised to protect shareholders - then diluted the PPS and decimated shareholder value. Incompetence, or malfeasance?
(8) Margrit indicated she would pursue 'naysayers' with legal action, blaming them and not her own actions and inability to move product for the tumbling share price. Of course, nothing happened either way. Incompetence or malfeasance?
(9) Margrit PR'd 105 million dollars in overseas contracts, and then delivered zero while creating bagholders who bought shares on the 'news'. Incompetence, or malfeasance?
(10) While struggling to move her flagship product, Margrit introduced both wines and brandy in (supposedly) building an entire product line of Armenian produced goods. Neither wine nor brandy have been seen or mentioned since, though more shareholders bought on the 'news'. Incompetence, or malfeasance?
(11) Margrit bought a single jumbotron ad in Times Square. It ran without sound, and due to its production and placement, was nearly impossible to determine in that venue exactly what the product was being advertised. Meanwhile, not a bar or restaurant in the area carried the product. Incompetence, or malfeasance?
Quite the track record, and it gets worse when one compares it with her very similar tactics looking back to her initial attempt some seven years ago. Landing on the side of incompetence is a charitable conclusion in light of her numerous failures to execute or deliver. Meanwhile, longs have suffered significant negative 'growth' in their portfolios while she continues to fail in every way. Her continued presence as CEO does not bode well for shareholders, as she show no inclination to take steps to succeed in this venture.
AI
