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Time for BOD, Gleasmans
to get us a new CEO, if that's
even possible. Why not- could it
be anything but a positive move?
I'm caught between
two recurring thoughts at this
moment:
1) With Keith's leaving/'retirement'
along with the two mechanically
oriented members of the BOD- that
the 'world changing' pump maybe
DOA-
Not unlike the 'low hanging fruit'
that was the iso-torque.
2) Or maybe his pro- longed quiet
is indication that they do have
something goin on? ( Last time
he really said anything to us
was April of '19 ( other than
Annual Meeting- which apparently
was the usual snoozefest.
I'm running at about 90% for #1.
Either way it would be nice to hear him say something, even if it is to say he can't say something..
It's certainly positive..
That Tom G initially invested
those funds to keep this afloat
until his friend DK ("productizes"- yeh I loved that word :), and that he continues, apparently to pay
the rent, and probably fund
our 'genuises' efforts via meeting payroll...But a little perspective: he's up 20M when PAYX rises $.50 cents..check the 5 year chart.
One thing is as true now...
as it has been since the very beginning, that being despite the pitch some of us have heard from 5?
6? CEO's this tech will not be
"World changing", or hell, even viable until another company with
a checkbook deems it so...So far- no luck.
I have a question...
With Labus & John H leaving
The BOD, what conclusion are
we to draw on the pump? It's
Been Sold? Hasn't been sold YET?
Is soon to be sold? Is not likely
to ever to sold? It would be nice
to have some guidance, as if it's
the latter, every single Gleasman
Tech that 95% of us invested in
the company would be in mothballs?!
Thoughts welcomed..
Every person, well most everyone,
associated with this company
has come to it with impressive
credentials, beginning with Vernon.
What has that meant to shareholders?
At what point is this going to
become a business as opposed
to a hobby for rich guys to tinker
with in their retirement? Surviving
is great, but I want to make money?
I'm not at the point where I can focus on my philanthropic endeavours.
We trade at 8 cents.
You know the answer.
Hiring Kaplan was supposed to
be.Then he put 90 % of the
companies core tech in mothballs
( Ya know the "world changing"
stuff) to fund and develop what
you guys tell me was a high school kid's JA project.? The low hanging fruit- it's called.
Only good news I can recall is Golisano funding this very sick patient's medical bills.
Some of us have a hard time smiling
and whistling walking to the hangman's gallows.
Can't ya just feel....
The energy, the excitement, the enthusiasm??? The feeling is just
palpable!!?? ( Sarcasm for anyone here less than 18 years)
I appreciate the sentiment..
just trying to hang in there.
TG usually gets return on his investments- even if it's his philanthropy. The fact that he is
still here and contributing is
a small nugget of hope.
DK has, thus far been mostly
about hype- but he's also kicked in
about 2M ?? Doubt he'd do that just
to "the keep the patient alive".
I will say his silence outside of
mandatory filings borders on contempt for common shareholders.
We'll see if we ever take the field.
It will never be what it could have been,but that's life.
The Natives are restless...
( and a bit touchy). I actually don't care if he doesn't say a word for the next 6 mos, provided the next time he does, it is something meaningful- meaning it helps me get my money back, and ( please God) even make a buck or two....?
Good Luck. We're overdue for some.
Not sure...
When they started,or ended but there was an update announcing they had opened up talks with others in April '19.
Greetings Zendo:
My guess is he'll say something
nebulous at or after the close of
business tomorrow- will not address
state of business at hand with the pump, and will talk about "developing,enhancing, optimizing"
the Cura software. History has a way
of repeating itself.
We're bout due to
hear from him and listen
to the can get kicked another
six months or so down the road..
I wouldn't mind hearing from the
New COO or a member of the advisory
Board as to the merits of this being
adopted by various industries..meaning the economics of this technology.
Hey Zendo:
Supposedly an update on the launch
of the Mycadian App/ Cura is due in January.
With respect to the Pump, they have
been in talks with the one manufacturer for over a year
( if in fact they still are talking with them- remember the ones that were so eager to talk they flew their foreign guys here and wanted exclusive rights), and then they opened up conversations to others around April of '19.
If it ever sells and there is only enough $$ to pay back the promissory notes, and a few months rent,I'll be fascinated to hear the spin on that
as he told shareholders multiple times it was "worth a fortune"( his words not mine)...
Wake my up...
When this stops being a hobby
and actually becomes a business...
( Ya know, sales, revenue, shareholder appreciation etc..)
Zendo:
Perhaps we need to form a 12
Step program for CRGS? I didn't
buy yesterday, but did few
weeks back..you should have heard
the internal dialogue in my head.
Frightening. I bought when my
youngest was 3. I just made last
Tuition payment for college in December. So being a shareholder
was no help there..just trying to
hold on to get out alive..dreams
died along time ago.
Maybe...
They're shooting for the most
clandestine product launch in
corporate history..well, at least
20 of us know....
How many times
can you go to that well of optimism.
While I appreciate anyone who
thinks better days are ahead, how
many times has TOVC/CRGS not
met THEIR own timelines, no matter
who is at the helm..? After all this
time we have no idea what the
potential price of a pump sale is,
or what the market is for the app?
Is it a 10,50, 100 million per
year market...?
"Maybe Next Year"?
Our tried and true battlecry.
Year 19 for me. I've given up
trying to figure out how and
why this trades the way it does.
I don't even care that communication
has become sparce. He was hired, came aboard almost ten years ago
to commercialize something. I'll
wait to see if he ever does.
I recall doing the same thing...
Think it was a 6 Billion market
with about 7 main players. It was
labeled as very mature and lacking
in innovation. Choosing to limit
conversations to one player for almost a year was questionable strategy,at least on the surface.
Not too optimistic or hopeful- but I can hang on to see if we ever take the field.
Todays 8K
When DK runs out of cash..
What then Quicken loans?
He bought himself time...
On the app by saying Jan '20. With
the pump, he'll just say negotiations are "ongoing, overwhelming interest" etc..
I don't care if he says anything
anymore..just announce when you've
sold something...he says the pump is
"Worth a fortune". Be interesting
What he feels that means after 20 years and $80 million..I'm guessing it'll be more
Like a yard sale...
It was a quick piece,
but the bright spot was his
clarification to the interviewer's
question about "all other apps that
measure sleep" when he replied none
of them "measure fatigue real time".
If this flies, he should get the credit- it was his baby.I hope they
Sell out. Concerned we don't have resources or man power to scale this up in our lifetimes.
With respect to
the recent fatal accident in
Brighton, the cause of the accident
is allegedly a drowsy driver. Not suggesting one would use a tragedy
as a marketing promo, but would
our product/application have helped
prevent this event? If so why the
total silence? I guess my question is what exactly is our company doing? Yeah I wanna make $, but if this product could've saved a little girl's life- get on with it? Help save the next one?
Maybe...
But ole Vern had a pretty good
track record. I think it's more
lack of execution by the various
players. 10 years ago BOD had us
convinced they'd hired an "all pro
QB, when it turns out ( to date), he's been a "Hall of Fame" punter.
Great field position- no points.
You know the stuff that matters to
fans.....( Every business scenario
has a football analogy :)
A fool and his money
are soon parted....
Sometimes soon means 20 years!!?
I've always invested here with
"Slush money," "found funds"..If it's gone it's gone...but if they
ever do something ( which I conceed is maybe not likely, well I'm paid for my anguish..it's 8 cents-how much risk is there?).
Insane - probably but I can live with the outcome..no matter how painful.
Yeh me too...
Bitching all the way !
Not much though..
As far as " See what happens",I suppose we will, but when? Did we get that update on the app.other than saying positive developments "should happen in the next 6 months". He sure has that one down
pat.....
Hey Zendo:
After close to 20 years of lost
opportunities, failed ventures, and at times, questionable communication with shareholders, I can't seem to get to that sunny optimism any more.
Yet, I certainly appreciate you sharing yours. I've become like doubting Thomas- I now
gotta see to believe !!??.( He only
had to wait three days for his verifaction of faith !?)
P.S. If in fact he had several hundred thousand buyers in the sales pipeline, wouldn't you think a few of the decision makers at these companies might take a flyer on a .10 cent stock ??
Kinda makes ya think
Donnelly must have drawn the
short straw..." Sorry Jim, you're are the new COO."
And how many people are in that
new 6600 sq ft Class A office space?
Must be one large Board room?
That is a bit odd..
but truthfully what isn't with CRGS.?
$270 ? I'm sure the CEO would've lent the COB the $. He's on record being ok with loaning money...
Perhaps...
But what about the 'massive naked short position', and the inevitable epic squeeze that's sure to happen when he sells the pump for 50 Mill and we bank that against the big tax loss carry forward..?! We've been
waiting 20 years for the ghost to reveal itself.?!? Being facetious btw- call it low hanging fruit.
Also perhaps a little clearer as to why those in the company,and on the BOD are electing to leave- despite the public declarations, regardless of the the 'company line'. 20+ years of continuingly getting ready has to be
maddening..Question: Can a person be "uninshrined from a Business Hall of Fame ?
When you read this...
"We are hopeful that some very good things will be occurring over the next six months"
The challenge is do we actually believe him after so many dead ends?
I'd love to, cause all I hope for is some liquidity and possible exit strategy.However as my friend Torvecian points out hope hasn't been a very effective investment strategy for us holding since 2001.
Agree 100%.
Well, apparently Donnelly's
"testimony" was more like reading
a magic 8-ball? "Will we have 200,000 users by 10-19" ?(Vigorous shaking) Answer:"Most Definitely". I remember vividly when I was chastised by the "Great Postulator" about the company's tendency to kick the 'can down the road'. Have mercy, just paying attention..!
Agree.
Was kinda hoping Keith would
Give Kaplan a ride home with
when he retired..
Sure do....
There are at least a dozen trial balloons,strategies, pathways to productization floated over the last
10 years: probably close to 50 since 2000. They never follow-up on any, or only when there is no choice not to- like when the Iso torque kept blowing up on the test stand and the chief technological officer went back to Syracuse.A BOD is supposed to look out for its shareholders. Most of our BOD don't bother to attend Annual Meetings, least since I stopped going 4 years ago. Wouldn't be surprised if TG took it private and put in his own people.
<Do we need any engineers at this point?>
..or a CFO?, or Customer Service?,Marketing Dept.? et al.
Nothing in my post with respect to the the age, gender and racial profile of the BOD was false or made up.Granted it was followed up with an opinion, which is what 99% of these boards are about.
Suggestion for ya- ignore my posts goin forward. I have yours for the most part since you were congratulating folks for the "fantastic buys" they were making at $8 ,then $7, then $6 etc etc on the way down last time around. I often wondered how comforted they were to have your affirmations when the stock was sitting at 8 cents? Hey thanks Mr Buffet.
From recent proxy:
No Females on BOD.
No Minority representation on BOD.
All white males age 64-81.My point?
Just how engaged are these multi millionaires in the affairs of this 24 year old Enterprise? Share price tells me all I need to know.