DNA Brands Inc (DNAX)

[Ed the Trader]

The reason that Adrian has a creditability problem is that he stated during his first conference call many months ago that he would have product out in "EARLY THIRD QUARTER."

Then, he moved that to "FOURTH QUARTER."

Then, he said that he would probably sell the energy drink intellectual property so he could buy some other unnamed type of business.

Now, he has decided to keep the energy drink product line and will relaunch next year.

If he had set a goal and met it, people like Pitman would not be so skeptical, but Adrian set several goals this year, informed shareholders that those goals would be met, and then he failed to execute each time.

2016 has been nearly a whole year of one failure after another.

Now, we should not be that surprised that all of these failures occurred. Adrian's background is NOT in the beverage industry. The odds last February were that Adrian was going to stumble around for a while as he climbed his learning curve, and that is what has occurred.

Shareholders don't like that Adrian is learning on their dime. However, it is also fair to say that Adrian has not taken that many of the shareholder's dimes this year because he did not increase the O/S that much considering what could have happened. The O/S raised from 6 billion to 7.33-ish billion.

He also did not execute a reverse split which would not have been a surprise from someone inheriting a 6 billion share O/S.

So, all in all, I give Adrian slightly positive marks for the year. He did not wipe out existing shareholders, and he ended up requiring time to climb his learning curve that he did not realize he would need.

It will be interesting to see how far into 2017 his learning curve extends.