I'm long DEWM, but I respectfully disagree with the way that the CEO of the company is treating investors. I've heard that his philosophy is to wait until deals have been completed, than come out with PR's. Supposedly, this would enable him to release financials that included the new deals, yet would prevent other companies from stealing his ideas, prior to execution.
While it may seem like a great idea on paper, in my opinion, it serves no ones interest. The main point behind what I'm hearing, is that he wants to attract long-term investors to DEWM, not flippers. By doing the above, at least in his mind, he may be thinking that withholding information will drive the flippers away. In my opinion, he's flat out wrong.
What he doesn't take into consideration, is that he's also driving long-term investors away. There are many people who put tons of money into this stock at much higher prices than it's at now. Plenty of those people were likely long-term investors. If the stock ever rebounds to the levels they bought at, you can be sure they'll be the first ones out.
Financials are needed now, not when it's convenient for the CEO. As a fellow long, I'm finding it difficult to accept any and all reasoning behind the CEO's lack of disclosure. Someone mentioned that he's not an investor friendly CEO, or something along those lines. I wholeheartedly agree. In the interest of both short-term and long-term investors, he needs to step up to the plate and provide us with factual information as to where this company stands. By that, I mean we need financials NOW.
The President's Message was a great start, as were the emails to stakeholders. Now, it's time to release the financials, and let all of us know where we stand. I'll continue to believe in and support DEWM, but even as a diehard long, my patience is running thin.
