Wednesday, September 10, 2014 2:27:01 PM
The first, of course, is the CTO. I don't know too many reputable companies that would allow that to have occurred in the first place. It appears Ed was trying to slip one by them because he (or his IR guy) stated it was too expensive to do an audit so they weren't going to do one until they got busted and were forced to do it by Canada. What about filings with the SEC? I've searched SEC.gov several times and nothing comes up for SEGI - that's probably an issue that will catch up to them at some point too I would think.
The second incompetency is the revenue - I've never seen a company keep a CEO in place for this long where they record zero revenues four years into their tenure. Even companies that lose millions of dollars in a year at least report some revenue, even though it's offset by more expenses. If he's not doing his filings and not selling anything, what is he doing with all his time? It's baffling to me.
I just hope he gets it together and quick.
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