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Hi Rattle, Am curious with the sustainability contract announcement today by DRNE and LTA if we can determine when ADS possibly made LTA and WSGI aware of such a contract? Did this just happen now or is this a PR they sat on until after the deal was announced?
Yes same to you kind of crazy that our CEO may have sold us down the river with LTA on the basis of a lousy agreement he made in the first place with LJC isn't it? Guy should at least come clean and fight for his shareholders IMO... Best to you rattle
Very well said the CEO has contrived this argument IMO... Not sure if its LJC alone but certainly contributed. The sale is a sham in my opinion and the puff shell is proof! The Hesses could have been far better off here just needed sales.. We are on the same page Rattle still think this has life but feel sold out ...
Would be such a shock if no one was yet hired or trained to sell GTC equipment and tracker time in the US after the promises from the shareholder letter? Not... Am sure our CEO is so justifiably busy? lol
Sure we are all entitled to our opinions and voting our shares in kind, that is what a public company is all about whether it was .10 and now .005.. whether 1 dollar and now .05 after four years we can still vote our shares. We can choose to be proactive or not as well... whether we own 10,000 shares or 100 million..
I agree with that bank a case can be made for or against Glenn staying. Obviously shareholders are divided which is understandable. We all want the same end result whether Glenn is steering us or someone else which is success, a positive share price and far less dilution. Of course fears of early reverse are concerning as this is not the time or the place imo to entertain it.
Inflammatory statements don't help the cause and while we all can be agitated by losses those in and of themselves remain paper losses to date. I like Glenn personally and have supported him and management for several years on these boards and elsewhere. It is not with any joy that I say I feel we need change but for me it has become obvious. Still if Glenn stays which for the time being is likely I want to convey support and hope for much better outcomes than we have encountered thus far.
None of us can know the outcome of DRNE, I am anxious to see their true outstanding share base stated as their 10 q's unfold. Obviously 40-50 million shares outstanding makes eventual revenue potential from the sale of LTA much more likely to result in a favorable outcome for our 10 million share stake than 150-200 mill which would likely be very difficult to realize without giant revenues and more product and company mix under their banner.
As far as judging others investment methods I am not wise enough to view Insighter's or any one else's decision making. I have no idea if Run has invested anything in this company since Glenn arrived or LTA was purchased or is still hanging on to shares from the Huff days. That is not my concern but certainly changes perspectives. Most of us that put in extra capital had our reasons and expectations whether in funding the company or purchasing shares. We don't walk in others shoes we know our own positions and the reason why we invested, if we have signed NDA's we know what was stated and what potentials existed. Overall I am on the side of shareholders period.
That is not the primary reason for him to resign... though the fact he produced next to no revenues is certainly a factor.
The share price alone tells us all we need to know regarding his tenure and credibility with investors. If there was any belief in him going forward the share price would at least be at or above the funding price of .007.
He pulled off a sale into Puff the magic Shell (DRNE) we have no clue what the outstanding shares of this Shell are at could be 40-50 million if the preferred was misstated but upwards of 150 million if not... If so Puff the magic shell is likely worthless.
Why do you think he should stay on bagel boy? Does the sale of LTA and the manner of DRNE (puff magical shell) 350k to who knows market cap stock upset you? Do you think he attempted to sell this in an open bid manner?
I think you missed the point entirely but no problem we can all have our collected opinions. Insighter was not calling for a complete change in management, had lauded the appointment of Drew West as Chairman as well as the efforts of David Phipps as a one man show running GTC. He/she was suggesting a change in CEO after 4 years of dilution and share price loss. All of which seems perfectly reasonable to me. Hopefully sooner than later..
Drew's appointment was after the sale the proxy material predates all that.
Thanks Indy I agree with you on most of this and am very optimistic to see Drew as an integral part of the team going forward. Of course Glenn's first mission was survival and I believe he often pivoted about aimlessly shooting bullets in all directions to stave off old and new enemies alike. The need for a coherent plan with set objectives goals and milestones and a straight forward communication has been and is essential.
I agree on survivability after debt reduction and further build out of GTC as well as commercialization of the Argus that seems at our doorstep. Some of us have been urging management to take a hard look at the validity of certain promissory notes for a couple years now, hopefully that is happening and being addressed. Accounting needs to be straight forward and real revenues net and otherwise emanating from GTC absolutely transparent. It is an injustice to simply charge off WSGI expense and before that LTA expenses against GTC without proper accounting. It has been apparent for a while that GTC is a real backbone here that is growing revenues. That needs to be applauded and revered and nursed by added sales force in the US. which many have advocated as well for a lengthy period.
Again shareholders have been left very vulnerable through the communication and handling of this sale of what was for many of us the reason we continued investing in WSGI. Fears of this same funding group taking advantage of this ridiculous share price to egg on a reverse are natural and need to be addressed promptly. Leaving a vague word like our "consultants" are looking at ways to better the company only enhances fears and enables more vulnerability. Lack of trust in the CEO since this sale and through the continued erosion of our investments is a major problem.
No lynching at all Indy just the need to take a long look at leadership and determine if our CEO brings credibility, optimism and positive belief going forward and that he has the absolute best interest for the shareholders and a vision we can grasp.
Sometimes a change in leadership helps restore morale and direction, aids in creating a new bond with shareholders and a better chance to grow.
I'm sure since Glenn's legacy in these four years is approx. a 95% reduction in share price he realizes there are plenty of us none too happy as events have unfolded. The selling here should tell all of us that and the lack of support by our funders to hold .007 is obvious as well.
If you really wish a list of laundry to debate we can engage specifics but there are apparent models like dilution, share price valuation, funding, communication, IR and enhanced investor participation, that lead me to this conclusion as I consider them failures all in all. Nothing against the individual just a desire to see someone grab the reigns if possible that can engender some enthusiasm along with his/her set of milestones.
I suspect he is likely to survive as CEO for now, but I think he should realize that there are many, many unsatisfied shareholders with his legacy to date. In any case with this kind of demise in share price most ordinary companies would seek and demand change. An active BOD with real concerns for the company and its shareholders has been just as necessary and sadly missing.
Many of us fear a reverse and that would be like destroying everything you have already burned down to pint size already. We need to be reassured that our CEO wants to build this up and create a real share price before any discussion of a reverse takes place. That issue has not been addressed at all and looms over us every day as shareholders.
The Chairman put his house up for collateral but the general agreement, negotiations between parties were mostly Glenn's efforts. If you want to imply Clark was more responsible than Glenn simply was not true, they both share that responsibility.
In any event we share the same opinion that once LJC colors were obvious we needed to act sooner to defend the company and its shareholders through litigation.
Thanks be, I hope this meeting has good participation. Have you listed the site and dates Pagan on our header page? Thanks for all you do!
LOL yes what does it tell us when DRONE can have a 40-50 million buck market cap with only LTA under its banner? Yet we carried it a long with GTC and the Argus to all of .008 under the WSGI banner before it was sold? Wow think there has been a flaw in our PR and IR department?
Good summary rwehapi, the question becomes if after all this time we think Glenn is able to lead us out of the share price abyss that has been chiefly his creation? Since the deal there has been precious little support and no strong attempt to hold the funding baseline of .007. Had that happened the stock would likely be at a penny again anyway.
My read is that shareholders have very little faith in Glenn as the leader to take us through to success. I think the reception to Drew will be likely much more gracious for now and he should remain our chief company spokesman.
The purpose is not to engage in CEO bashing Indy it is to allow accountability where the buck stops. As shareholders that is our responsibility as well. Sometimes at the end of the day we can only gauge success through perceptions of share price valuation, market cap, dilution and potential. Unfortunately the outstanding shares and real number please in DRNE have everything to do with where that stock can head even in light of positive orders therefore from your "balance sheet" perspective have everything to do with what our 10 million shares are and will be worth.
We all know that the demise of WSGI share price started with the horrendous funding through LJC. No matter what misrepresentations they presented the signing of that contract was a disaster. I realize desperate situations cause desperate decisions to be made and sometimes lived with far too long. In this case it was obvious IMO what they were up to close into the funding and legal remedy should have been sought earlier. Still back to accountability Glenn is responsible for that funding desperate or not...
Of course and when you ridicule her/him regarding her/his opinion of this deal and the CEO's performance I have no problem debating these particular issues. This sale was Far from elegant. Does not mean I agree with everything stated but have no problem discussing Mr. Estrella's performance over the last four years, good and bad alike...
This is as good as time as any for a bottom line evaluation by shareholders of Mr. Estrella's performance as CEO over the last four years as we head toward annual meeting.
Actually I think she/he has been spot on regarding ineptitude of our current CEO and the shadowy sale of LTA. The end result of such a dismal percentage in DRNE only enhances a greater desire to see Mr. Estrella's failing tenure end.
Not Mike Clark
Actually WSGI is fine here and a decent buy shiny why don't you short. With funders having paid .007 it is easy to see where it will be soon.. That DD is obvious ...
Actually I think Insighter is well directed to who he/she estimates is at fault here in destroying shareholder value. Whether that person continues to be CEO or not the evidence is in as they say. Insighter is stating what many are thinking that for the sake of credibility it would be best if he soon departs. Nothing wrong with that assessment in my view.
I think Insighter is smart enough to see your bias and obvious agenda. There is no indication of fraud or accusation of such regarding GTC or WSGI but thanks for trying.
Yes of course GTC was bought by Clark and E. on behalf of the company REN, and US sales were all but ignored in the last two years even with continual urging from invested shareholders to ante up something in effort to produce more revenues. A real sales effort was likely to have produced far greater returns. GTC is a success due to DP and Insighter is giving him his due. Your DD is limited if you think otherwise. In addition there is no argument of the massive shareholder loss incurred under GE's 4 year tenure.
Yes Insighter many of us are aware GE ignored GTC for far too long to buffalo us now with suggested interest. Of course you are right also on his track record in sales. Let us hope David and Drew are responsible for these sales hires.
Thanks Bank, I have mixed attitudes regarding Glenn too, appreciate his efforts, likewise believe in the acquisitions of GTC and LTA. Obviously a lot of share price difficulty starts and ends with one horrendous funding through LJC. If this ends up being a success Glenn's efforts will be part of that picture. Unfortunately its about share price and shareholder value as well and whether paper losses or for those that have sold for a substantial loss reality beacons for change.
I appreciate your posts and understand and do wish us all the best results going forward. Including Glenn by the way...
Well we certainly differ in that opinion. Nothing against Glenn think he is a decent fellow just not CEO material. He has had his opportunity for four years to bring shareholder value and has failed. Sometimes the share price speaks for itself. Oh yes we can say without Glenn this would have failed, or without GTC revenues and David this would have failed, or without some horrendous funding like LJC this would have failed.. That diatribe is endless.. What we need is credibility and positive belief in this company's future Drew brings us that potential while Glenn's legacy and track record does not. Not saying we don't need two individuals as CEO and Chairman just that the new Chairman deserves our support and optimism and as shareholders we deserve a new CEO we can equally support and aids us in helping restore optimism. IMO
The BIB is alive and well including delivery of Ohio units that Trident sold. Oh yes our new Chairman is lead owner of Trident.. DRNE is alive and well also and WSGI has 10 million shares. So our interest in BIB sales is ongoing thanks!
Tying the past chairman's departure to the PCT report now that is hilarious.. thanks Coastie needed the laugh today..
Thanks Indy, I am very pleased to have Drew address the progress concerning GTC and Mr. Phipp's efforts. GTC revenues have increased nicely and prospects look favorable for a strong future. Debt reduction, GTC increases and Argus commercialization bode well as does our holding in DRNE.
I think the improvement in communication and transparency will translate positively as has been sorely needed. Much appreciated Mr. West!
Heaven sent funding, these guys are angels! LOL
Hilarious how is your buddy our former IR director? Priming the pump elsewhere now? LOL You calling Indy the town pump is too funny.. He actually is plugged into helping this company not doing it harm. Get it gotcha? IMO
The point is Ren and we all agree none of us know the outcome of the 10 million shares past the share price at present. At some point the equity will trade on promise and revenues and not hocus pocus from an already oddly priced shell to a closely held company. I think we are all aware that no one can know the outcome as it depends on dilution, revenues etc.
We all realize that unless this transaction and the ongoing business results in a 20-40x share price increase from here before any reverse the deal is an utter failure for most. Hopefully our dilution crazed CEO understands that as well. My guess is he does as their options and shares are in the same boat.. let us pray that is properly conveyed to the new funding and consulting group as well..
Well I certainly agree with you there has been some "presto" and magical formula to arrive at a share price and current 10 million valuation for our take of the DRNE deal. No one knows what happens next stable DRNE stock or wilt. Regardless at some juncture the equity will be judged by revenues and promise.
It would be wonderful if the presto could happen with WSGI since all concerned from previous management team and team of current DRNE members as well as our shareholders are dependent on that movement. I concur we need a new voice to move us forward to highlight what is left regarding the hope and promise of the Argus and the present and future potentials of GTC. Both of which I think have a far brighter future than has been communicated. Drew seems a good start and I welcome his appointment as Chairman. Hopefully the rest of our BOD and management team including CEO will also lend credibility and belief in future promise right now that is sorely lacking.
HAHA Cole is looking forward to celebrating Christmas 2008 this year! There is no Christmas past too far away for her!
Look I'm not going there at the moment. I think it is time for a change due to credibility and low success rate. I have no idea what factors all entered into this, we do know that lack of revenues chiefly in the endeavors in which our CEO engaged put us in a very difficult posture as did inept funding with LJC. Those are enough alone to ask for a new manager. Four years in the cellar usually does it in baseball especially when you never showed success prior.
As Ren has pointed out you have taken on defamation as your principle name in character. The SEC settled that case there have never been any charges against management since. You do know that LTA and GTC are real and ongoing entities producing products and revenues. The Argus is real and the consortium is as well. I only hope that someone in the company musters the energy to sue your proverbial you know what. At least have the courtesy and decency of admitting this is your opinion only..
I agree bank IF DRNE holds and improves then WSGI can benefit. As we know today the asset is not tracking to us in the least. Eventually yes perhaps. However we do know the holding company was essentially trading where DRNE is now prior to transfer. Lets take a wait and see posture on that and hope DRNE has sales and net revenues that justify and enhance its present valuation.
By the way I am very on board with Drew and look forward to his solid tenure. Just think we need to address a certain credibility gap still ongoing in management.. Hopefully that happens through success (in the Near future) or resignation and new leadership.
Well our CEO could always write another letter to shareholders? That is certain to restore credibility and lead to a more solid valuation? HAHA
Thanks Indy I do see lots of positives regarding Drew's appointment and GTC/Argus build-outs. I already have a better feeling where we are headed just a frustrated attitude from where we are presently and the last years. Will be a pleasure to meet you hopefully one day soon!