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He may not need shareholders to like his actions, but his actions should be in the best interest of shareholders.
Self dealing; enticing shareholders to buy stock, with false press releases, in order to enrich himself at the expense of shareholders is not in those shareholders best interest.
I'm not saying that is what is happening here, but if it is management and the board of directors has a problem they need to solve quickly.
I agree, Greg is calling the shots.
What rumor?
Ha, I don’t “believe” anybody when it comes to companies like this. We’re gathering information right now and if this is what we suspect, we will make a move.
Yea, we would love for them to file something on us, we don't like to throw the first LEGAL punch, and like you said have management have to answer some tough questions under oath.
I'm not calling anyone a liar, yet, but it does look like the "spin off," announced TWO YEARS AGO, was certainly a ruse to get people to buy stock to get the "dividend" - just like when a pink sheet announces a buy-back (that never happens).
All the company has to do, to make it right, is actually complete the spin-off.
Thanks, we will look into Donell.
Actually, we have notified the investment banker, and the company, that we welcome a lawsuit; it will give us a chance to get management into court in aa counter suit; a derivative suit on behalf of the shareholders.
There was no violation of any NDA and everything that was said on this board, regarding the reason we walked away, was public information.
Even so, again, getting them into court will be productive.
Things are going to change here - it's time to hold management accountable for their actions.
An interesting thing happened last night (Friday). Vystar's investment banker called one of my colleagues, the one that brought Vystar to my attention, to let him know that Vystar would be filing suit against my firm for my comments on this board.
At least we know the company trolls this board - it seems like they just choose not to answer shareholders' concerns that are addressed here.
What do you think I said that scared them so much for them to file suit?
If shareholders work together and let management know they expect performance a lot can change. Not just VYST, every company.
Management needs to do what they say they are going to do or be removed.
Their investment banker is Network 1 Financial Services.
Exactly! Why aren't you demanding answers from management?
Why aren't shareholders holding management accountable?
Why complain on this board and not take an active position on your investments?
Back then Clem (CPA) and his partner Surajit (lawyer) controlled the deal. I'm sure they still do.
You can see Clem's name on reports, as Affiliate/Control, for the Reg. A stock he gave himself and for expenses paid in stock.
Yea, I’m nobody.
Back in September of 2019, I met with Clem Yeboah, in Rye, New York, to discuss cleaning up KYNC. No more pump and dump, no more toxic loans, no more stock issuance, no more BS acquisition announcements - we would recapitalize the company and execute a REAL acquisition strategy in an effort to turn the company around and create shareholder value.
A few months later, we didn't just walk away, we ran.
I don't know yet, but it looks like it may be worse now, and if it is, it has to stop.
PRESS RELEASE
Excerpt -
“The end of any relationship, no matter how short, is difficult, said Jonathan Cross, Shefford Capital Partners Managing Director, and this one is no different.” “It is a shame, but we simply had highly divergent ideas on how to make the changes that would create sustainable value for shareholders; something we could all be proud of. This decision is best for all parties.”
To be clear, we saw opportunity in Rotmans as a furniture pure play, That being said Rotmans needed an operational restructuring that would have had to happen simultaneously with the Vystar recapitalization and restructuring.
Late SEC filings, insider selling and a difference of opinion with their investment banker is the reason we walked away - and to keep egg off our faces.
By the way, we are Shefford Capital Partners, not Sheffield (everybody does that).
The fact that management was/is selling shares constantly was a big issue for me too.
The play here would be to spin out the Air & Water companies and capitalize them in their own holding company, and at the same time recapitalize Vystar/Rotmans; change the Vystar name to Rotmans and make it a pure furniture play; keep the latex company in Rotmans as it's furniture related. Then, execute a growth plan, in the furniture industry, for Rotmans.
This plan, executed properly, would immediately create value for the shareholders.
They do have an IB on the deal, he and I didn't see eye to eye on the condition of the company so we moved on. The IB does have plans so we will just have to wait and see where he takes it.
The company is in need of a recapitalization and they are aware of that. What remains to be seen is if they can execute. I believe this gets worse before it gets better - if it gets better.
Over the past 5 or 6 weeks, we took a deep dive on this company and had several conversations with management, and their investment banker. We also ran the best analytics we could, after getting the Q last week, without getting non-public information on the interim financials.
There is actually some value that can be unlocked if they can execute on a restructuring; they actually have a solid plan but, as always, it's all about execution.
I sure wouldn't be a buyer here, especially with 1.3B shares outstanding and management continuously selling into the market.
Let's see what happens.
Yep. Not going away. Neither is Parker Mitchell. It’s over for Brandon Romanek and his type of “management.”
Well, KOOL is good...I guess. Can you tell me about the management team?
Yukon, can you tell me one good thing about this company?
I will not sleep until this guy is removed from the company and is held responsible for his actions.
These things take time, but we are in contact with the SEC, States Attorneys' and the OTCMaarkets.
We are filing a derivative suit against the board of directors of THCT - Brandon Romanek and Joshua Halford - for actions they took that damaged shareholders.
Shareholders that lost money investing in THCT should be on the lookout for additional information.
Oh stop.
We are going into deep due diligence to discover if KYN Capital is one of the Good, the Bad, or the Ugly on the OTCMarkets.
Great to hear. We’re on it - I had a fiduciary responsibility to report it so obviously we did.
There is no speculation here, I have the bank records, credit card statements, etc.
We are going to put an end to things like this. Romanek is just the beginning.
I'm OUT as CFO. I got terminated for bringing up all of Mr. Romanek's fraud, self enrichment, embezzlement, theft of assets, and misstatements in the financials.
You were right howardriggin. I have to admit it.
The COO resigned, basically to get some distance, probably to limit his exposure for aiding Mr. Romanek in everything.
Ask questions that a CEO can't answer and interesting things happen.
Not the news anyone wanted but here you go:
Check out the 8k.
Yea, we have done a deep review on this and it is time to get something done here.