If you are going to look back, then don't be selective because it really trashes your credibility.
I know the backstory on the prior company and how this company started as well because I asked questions and did my DD too early on. I will let the CEO fill in any blanks I forgot something. You should call her and ask her directly so you have the information to paint the whole picture. Once that is done, shareholders can make up their minds based upon all the information, just like I did. Some points have been brought up standing alone, paint a skeptical picture, but because I know the backstory, I see no correlation or validity in your negative nuances. If I thought you bashers were doing this to help us better understand, I would appreciate that. But I don't. Only people who want to exact vengeance do what you do, like it or not. You must have some lost stake in this company to come out so strongly and raise negative nuances based on partial facts.
For instance, did you know that they put in over $600,000 of their own money after they lost an $8,000,000 funding when the market tanked in late 2008, all in the face of $4,500,000 convertible debt in order to pay their managers and other employees? You didn’t reveal that they personally guaranteed those debts, did you. Did your DD show you that they did the reverse split in early 2009, still during the crash, to recapitalize the company to try to attract new money since they were manufacturing 10's of thousand of products for Home Depot and Costco? Did you know that MasterLock spent 6 months vetting them personally, testing and validating their technology, verifying their factory before they put their name on their products? The other companies reverse split was to try to save that company because it had steep financial obligations all at a time they lost their funding due to market conditions as well as putting huge personal money into that company and personally guaranteeing those notes? Did you read the release where Home Depot sold out of their product in 45 days, 23,000 units across 1400 stores and reordered several thousand more units? I see this as a completely different company from a corporate structure and capitalization/debt aspect than the last one, with a completely different set of facts that paint a far different picture than what you would like. The other company’s reverse split was a last ditch attempt to save it, where this reverse split is the first attempt to set the company up to to attract real money and uplist. Huge prior debt versus relatively no debt now and none soon. Big difference when you explain all the facts.
Someone has been trying to point to “same old technology”. Another unsubstantiated claim from someone who tries desperately to mislead. If you read any of the actual filings, you will see that the company has made substantial improvements to its' technology. They increased user capacity from 9 to 120 (so it is applicable to commercial healthcare), they just added an administrator function (also required by healthcare), they have changed processors so its faster, and they will be adding a lot of other features like Bluetooth and wifi. I read.
All I see are the good parts of her prior history being repeated. Your onslaught should lead investors to think you have ulterior motives.
If you read her letter, and have the experience you claim to have, you would have understood. Obviously you only want to highlight any possible negative nuance to detrimentally affect this company. No company is perfect, and this is one of them.
As a medical professional, I see a company with a technology that has a huge potential in my industry, relatively little debt, innovative and needed products, a successful history and track record of aggregating and developing an IP portfolio, developing products that big brands want to put their name on as well as selling millions of dollars of products, putting their own money up to continue their efforts, and not going down without a fight. I don't care what percentage of the company they own, or who owns it, as long as they are able to control the growth and path of this company, I am in.
That’s why I will forgive any missteps along the way in hopes she takes me to the big dance.
