Possible overlooked risk.
Based off of this post and my last post it may seem like I'm bashing MYEC. I'm not, but someone needs to ask the hard questions and I would like the opinions of my more experienced (hopefully) peers.
Is anyone a little worried that without Ed Starrs this company is worth nothing? Well duh, right? A good CEO can make or break a company, but what happens when said CEO decides to leave or god-forbid passes away?
His rebuilding of the company has been going great and it seems that he really knows what he's doing. Our biggest asset is the checking technology, but Mr. Starrs is an asset himself. I hate to be pessimistic, but we're a heart attack or car accident away from losing a key asset. He definitely knows how to run a company, just look at his track record, but what would MYEC be without him? Would it just fall and crumble or would the other staff continue to move forward? Are the other staff competent enough to continue or possibly improve Starrs' work?
I think investors sometimes forget that CEOs are human and prone to those same humanly risks every person faces on a daily basis. This is especially critical when investing in penny stocks because generally penny companies are run by a small amount of people, and the loss of a staff member could be detrimental.
I don't really expect anyone on ihub to have an answer to these questions (they're kind of rhetorical), but I thought I should bring this issue to the people's attention.
