The following may be a start; at least management will not be able to say they did not know what is on the mind of at least one shareholder.
Dear Messrs. Pentony and Esposito:
I believe some of the shareholders of the Company would like answers to the following types of questions, supported with facts and specificity, at the upcoming conference call:
1. Why did Mr. Marshall “step down” from being Chairman of the Board and Chief Executive Officer?
2. Why did Mr. Marshall “step down” from being Chairman of the Board and Chief Executive Officer, at this time?
3. What “advisor” duties will Mr. Marshall have to Mr. Esposito, as Chairman of the Board, and how will he be compensated, if compensated?
4. What is the ongoing role of Ms. Marshall to the Company, if any (if any, how is she being compensated)?
5. What is the status of the trials which were the subject of Company communication at the end of last year (the “trials”)?
a. What information is expected to result from the trials?
b. What conditions precedent need to happen for the trials to commence?
c. What is the timing of the trials?
d. How are the trials being funded?
e. If commenced, what are the conditions precedent to:
(i) the completion of the trials; and
(ii) the publication of trial results.
6. Why is Mr. Esposito an “interim” Chief Executive Officer?
7. What conditions precedent need to happen to remove the “interim” word from Mr. Esposito’s position as Chief Executive Officer, i.e., what needs to happen for Mr. Esposito to become a permanent Chief Executive Officer or for the Company to hire a permanent Chief Executive Officer?
8. What is being done to “position the Company as an increasingly commercially focused organization?”
9. In detail, how does Mr. Esposito define, “greater commercial success,” as used in the third paragraph of the February 27, 2017 Press Release.
10. In detail, please describe what the Company has been doing regarding the stated contention that the Company “has been preparing for a significant entry into the market,” as used in the fourth paragraph of the February 27, 2017 Press Release.
11. Please quantify the use of the word, “significant”, as used in the fourth paragraph of the February 27, 2017 Press Release.
12. How does Mr. Esposito define “commercial success,” as used in the fifth paragraph of the February 27, 2017 Press Release?
13. Please describe the “transition,” as used in the fifth paragraph of the February 27, 2017 Press Release.
14. While not directly attributed to him, what “commercial team,” as used in the fifth paragraph of the February 27, 2017 Press Release, does Mr. Esposito envision?
a. What kind of executive(s) – type(s) and qualifications?
b. Have any people been identified?
c. How are the people going to be compensated?
d. Describe each compensation structure for each proposed position which will be performance based?
15. What are the other “key markets,” as used in the fifth paragraph of the February 27, 2017 Press Release?
16. What needs to be accomplished to “translate the clinical utility of AcepticSure into commercial success,” as used in the fifth paragraph of the February 27, 2017 Press Release?
17. What is being done “to execute on plans to increase manufacturing..,” as used in the sixth paragraph of the February 27, 2017 Press Release?
a. Why is “increase[d] manufacturing” needed at this time?
b. How many AS machines does the Company anticipate a need for over Q2, Q3, Q4 of 2017, and Q1, Q2, Q3 and Q4 of 2018?
18. What is being done “to execute on plans to increase … technical service and support..,” as used in the sixth paragraph of the February 27, 2017 Press Release?
a. Is “technical service and support” a euphemism for a service based income structure (use of machine), as opposed to a sale of machine income structure?
b. What does the Company intend to do to prevent a “one and done” sale model, as the disposables, i.e., the chemicals, do not appear to have any real value to the Company?
19. What is being done “to execute on plans to increase … lead generation channels..,” as used in the sixth paragraph of the February 27, 2017 Press Release?
a. Please describe, in detail, the proposed end user of AS, and what the Company intends to do to penetrate the market?
b. Please describe all conditions precedent to a penetration of the market.
20. Have pro forma financial statements, balance sheets and cash flow statements been prepared which detail how the Company expects to execute on its “plan,” from a financial perspective?
a. How does the company intend to be able to execute on its “plan,” from a financial perspective?
b. What is the time horizon for implementation of the Company’s “plan.”
21. What is being done to “replace” Dr. Shannon in the event of his voluntary or non-voluntary departure from the Company?
