FactMan777 Update
I have been a shareholder in NVIV for over 5 years but due to recent events I have sold my entire position yesterday and today. I wish the company good luck going forward and will continue to follow them.
Major reasons I have sold my entire position:
-the company has had an outstanding relationship with the FDA. But recently this relationship has clearly deteriorated. The recent suspension of enrollments, additional unclear INSPIRE safety requirements and the recent disapproval of the Cervical Study, all with minimal or no communication to shareholders, are examples of this.
-the total lack of communication to their shareholders. Lately, the only way to find out what is happening with the company is to compare previous and current shareholder 30+ page Corporate Presentations by looking at what bullets have changed and then trying to interpret what the change means. This is totally an unacceptable way for a company to communicate with their shareholders.
-the total lack of insider buying by the company directors and officers, even when the stock has been severely depressed at times in the last 5 years . Ann Merriman, who bought 2,000 shares in 2015, is the only insider buy in at least 5 years. This clearly is not a strong show of faith in your own company.
-since timelines have been pushed out there has never been an adjustment by management to reduce their compensation to help preserve cash. And frankly, I am tired of the company missing published deadlines and having no problem diluting the shares of their current shareholders with secondary offerings.
Just the facts,
-FactMan777
