For the record, I am way over-invested in this speculative position. I started buying last October. I bought on the way up, and on the way down. No, I haven’t taken any profits the “very few” chances I had. I am an investor, not a trader. Because I am an idiot, I bought another 850 shares yesterday so I now hold almost 9,000 shares at just under $6 ps.
I do not blame Kavanaugh for all our woes. I agree he has an impressive resume and I was ok with the arrangement. My beef is we haven’t got anything out of him and it’s his pay that was mentioned every time another excuse was needed for the loss. Do I think he had the “connections” that enabled the company to buy a booth at a pot-head festival? (not to mention we don’t have much of a product in this area) Um, no. Did he engineer the IVG acquisition? I guess it’s possible but I highly doubt it. That’s not what he was hired to do. He is supposed to get us high-profile recognition. Like getting Leonardo Dicaprio to puff on a Krave in a movie or a very visible event. Did you hear the questions from the only 2 institutional/finance people who were interested? (by the way, neither of those guys sounded like they were in a hurry to buy more shares) It was asked if Knight Global received any funds other than the original agreement. Like commissions for “actual” sales that were a result of their efforts. Answer was “no”.
Regarding the “infomercial”: I could care less right now if it’s on YouTube. The idea is to make money. Didn’t they say the same thing after Q1 that “revenue and margins were affected due to the end of the Alternacig infomercial”? I understand they phased out/are phasing out Alternacig and the new one is for a VaporX product but if you make money from infomercials that also have higher margins, why the F would you not have an infomercial running perpetually?
Revenue: The only fair way to analyze the $1.2 million “move” from Q1 to Q2 is to look at the quarters combined and compare that to last year. Revenue dropped $1.67 million, or 13.33% for the same period. We are in an industry that is projected to increase by 25% per year. Doesn’t that mean we “dropped” by about the rate we should have “increased”? May I remind everyone we’ve had vaporizers all along so I’m having a hard time seeing how the transition from e-cigs to vaporizers hurt when we sell both?
So with all my negativity, doesn’t it scare the sheet out of the longs that it appears if we didn’t have the IVG acquisition, which hasn’t closed yet, we would be DOA?
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