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Well at least they provided a plausible explanation for the EPA delay - several departures at the EPA.
No explanation as to why no Canadien sales outside of the healthcare arena(as NSD has questioned several times).
Not much else for a 3 1/2 months wait since the last update, but at least we know Ed is still kicking.
Thanks WIV - I appreciate your well thought out posts. I understand your point about what his priorities should be and CG isn't/shouldn't be on the top of the list. That being said, as you pointed out, serious investors will not look kindly on the current state of affairs and I’m not sure that by changing their conduct now it will erase the negative impression that the last several years have generated.
I'll ignore the comment about "sophisticated" investors :) I'll have you know that my 4 year old thinks I'm very sophisticated.
WIV - "I ask management.." Have you spoken to Mr Esposito about Medizone's communication policy and their general lack of standard corporate governance?
WIV - Have ever communicated with Esposito regarding Medizones's lack of standard corporate governance and what his position is on it?
Insider trading? Asking him his thoughts on getting the company up to speed on typical corporate governance is insider infomation - huh?
I don't want respect, just answers :), which haven't been forthcoming from IR regarding these questions. As a member of the Board he has a fiduciary responsibility to shareholders.
Maybe not leaving, but obviously not in position anymore to take over from Ed anytime soon.
Does anyone have contact information for Mr. Esposito? I would love to hear his take on the current state of MZEI's Corporate governance, considering no shareholders meeting for 5 years, no BOD elections, no quarterly earning calls etc..
I wonder what the reaction would be if someone who got an HAI filed a class action lawsuit against the EPA for delaying the approval of Asepticsure. It would be hard to prove in a court of law that Asepticsure could have prevented it, but it sure might stir up some publicity.
Is there a difference? :)
I'm basing it on the fact the last we were told, more than 6 months ago, was that all requested information had been provided to the EPA. According to what we were lead to believe EPA approval was a given (in fact we were orginally told it wasn't even needed, iirc). It is now many moons later and still no approval - why not? As far as we know the EPA hasn't requested any additional testing/data so the longer this goes on, it seems to me, the less chance of approval.
Very nice to see the increased volume and share price, excited about Esposito addition, but considering there is no known reason that EPA approval hasn't been granted it seems to me that each day that passes without approval is an indication that this isn't getting approved.
Eli - or perhaps he already earned his 4 tranches of 250,000 and we just don't know about it yet :)
1,000,000 vest in four equal tranches of 250,000 shares upon the successful achievement of certain milestones by the Registrant tied to the commercialization of the Registrant’s patented hospital disinfection system.
But you never answered NSD's follow-up to that post.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97103413
Your post sheds some light on half of the problem in Canada.
However, Marshall failed to address the fact that C3 has not announced a single service contract in nearly 2 years of trying. The problems Medizone faces in the healthcare environment do not exist in the private markets C3 was supposedly targeting.
Their original plans were to have service trucks all over Canada by now. What went wrong?
Ben, maybe you can get Marshall to offer an explanation for this situation also.
Considering there is an industry chasing Medizone that spends billions of dollars a year on research I have no idea if we have the luxury to wait. For all we know we will wake up one morning to find out that J&J , or P&G etc.. are announcing an EPA approved solution. Unlike Medizone they have no need to announce their solution until it is ready for market.
>> luxury of purring contently while we wait
Very exciting news. The only way it could have been better if he was appointed CEO!
West Point Grad is also very intriguing. Those guys usually have great contacts in Government/Defense as their fellow classmates move up in rank.
WIV - Well said.
Somethings up? Volume has increased 50% (up to 3,000 shares) in the past hour.
Still can't fathom that at this juncture in the companies history we have < $300 worth of trades.
Obviously the person taking it would be doing so because they realize the potential of Medizone and that 15 million shares could soon be worth $100 million, or someone so accomplished that they don't need the money but would enjoy a new challenge of creating something spectacular.
Mo - How do you define ethical?
>> As long as conduct is ethical
On one hand it's says a lot about Ed that os is just 300 million - with a typical penny stock ceo it might be 3 billion. On the other hand denying shareholders(minority owners) their legal right to have a say in how the company is run, by voting for a bod,might be considered unethical to some.
Mo - How about offering 10 million shares up front and another million/year for the next 5 years. I would think someone would take it. The dilution would, imo, be covered by the raise in share price and the subsequent ease in raising capital.
I'm surprised this hasn't occurred yet.
>> recourse would seem to rest in a court action.
How do they expect to attract investors if they aren't willing to have some transparency. No shareholders meeting, no quarterly earnings conference calls, not even another staged call like they they had 3 years ago.
I asked IR about a shareholder meeting, but didn't get a real response.
In general are companies required to hold annual meetings?
What options are there to force a shareholder meeting?
>> there are some of us who own a good deal of MZEI shares, not that it’s a big portion of our holdings, but equal to ½-1% of MZEI outstanding
Mo - I agree and I've praised Ed several times on this board for his tenacity and vision in getting us to this point. That doesn't mean he is the right man for the job at this present juncture in the companies history.
It makes no difference what the reasons are, but it is clear that investors don't have faith in current management. Even with EPA approval and some sales and even if the share price goes up to $1, it doesn't change the fact that they don’t have the operations experience needed to take this to the next level.
I'm not looking for some short-term share price jump in price driven by IHUBers. My investment is based on the assumption that this can turn into a real company. I assume that present management has similar dreams for Medizone. To accomplish that I think we need different leadership.
One way to get established would be to hire a known executive with a proven track record in the industry. Given the potential of Medizone I would think an attractive compensation package loaded with shares would attract someone. This would give instant credibility, publicity, allow Medizone to raise money and would probably shorten the "wait" that you speak of.
Benk - I think you might have misunderstood my comment. I was referring to dollar volume, not share price. The fact that a company with potential to do $100 of millions of business can only attract $6,000(presumably half of that was sells, so in reality $3,000) is in my opinion in indictment of current management. To my recollection companies with no sales and drugs in the pipeline achieved significantly higher evaluations/investment. Sure there are risks, but if the investment community trusted current management's ability to pull this off you would have to think we would be seeing some significant money coming into Medizone.
I can wait if there are legitimate delays. What really concerns me is the complete lack of interest the stock is generating - $6,000 worth of shares traded today.
What update? It basically repeated the previous PR. The only 2 new pieces of information that I saw:
EPA is back on track - we were never told it was off-track. In fact we were led to believe in October it was right around the corner.
>> it would appear our EPA application is once again moving forward
A few hospitals are interested. Amazing the technology that they have been claiming hospitals were clamoring for, now they are excited to report they received a "few" inquiries. Something tells me the Marshall Plan ain't working.
Anthrax Anti-toxin Said Effective; Disinfection System Gets Patent
Looks like there might be government funding available for some of this type of research. Wonder if Medizone ever attempted to apply for it.
ETI-204 was granted “fast track” status and Orphan Drug Designation by the Food and Drug Administration. The program is supported with federal funds from the Office of the Assistant Secretary for Preparedness and Response, Biomedical Advanced Research and Development Authority (BARDA), the Department of Health and Human Services (HHS)
http://www.hstoday.us/industry-news/general/single-article/anthrax-anti-toxin-said-effective-disinfection-system-gets-patent/7f1fa8c6fd0f095d6de665e6d243c380.html
News starting to trickle out in Canada. It was posted today and already has 9 comments.
www.thestar.com/life/health_wellness/2014/01/28/canadian_invention_sterilizes_hospital_rooms_with_vapour.html
No idea, but considering the 6 month follow-up from early June should have ended in December and they just released this now, perhaps EPA is imminent.
Go - I got a little more at .049. Was a chance to average down - still under water but nearing the surface :)
>> I bought a lot more at 0.05
One quibble germane to yesterdays discussion. I've never seen a Merck or Novartis press release headline saying "...should save billions". That is penny hype. Can we try to be professional and act like a serious company?
WOW - I've been waiting for seemingly forever, but probably only 3 years, for testing that proves a reduction in actual infections. They finally did it! Congratulations Ed and team!
I would think a leak would have generated more volume. In that sense I've found Medizone management to be very professional - I don't recall any significant increase in volume before other announcements.
NSD - Incomprehensible!
I don’t know if it is incompetence or naiveté, either way it is inexcusable in a public company.
Very similar dynamic to the marketing approach, which has so far proven unsuccessful. They felt their product was so good, people would buy it without a credible marketing plan or extensive testing. Hasn’t happened yet.
Same thing might unfortunately happen with share price – they feel it will definitely go up with good news. Will serious investors put their money in a company with penny credentials, no shareholders meeting, inexperienced management….? Yes, it might go up, perhaps even a couple of dollars – but it will never attain a fair valuation with the current approach.
If that is what Ed wants he should be developing associations with professionals that cater to serious investors not to penny stock flippers.
I don't know about you, but while I would like the price up I wouldn't want it done in a penny stock promotion way. I want it to go up, driven by fundamentals and by attracting real long-term investors. If this company is ever going to be treated seriously by investors it has to start acting the part. Shareholders meetings, quarterly conference calls, professional management etc.... Otherwise we can have the greatest product, but we will never realize the full potential as far as share price.
>>Maybe with his penny stock background he can get the share price up.
I can't believe this news- that was exactly my reaction. I thought we had moved past all that penny garbage. Is Money TV next?
Green - I picked up 100,000 at 5.2 this morning. Not sure if I'm going to hold them long-term. I think I might start flipping some shares so at least I have something out of my 13 year investment in Medizone
Spumoni - I picked up a nice amount of shares the last week of 2013 - most of the buys went through at the bid, which I guess would look like sells, but were actually buys.