Oily, keith is not crazy, I do not believe he is. His actions sometimes appear that way when speaking to shareholders, but it may be an act. Calculated is a better word.
Personally I feel he looks at these message boards as free publicity for his company. From Silicon Investor to Raging Bull to IHUB to Yahoo and now the Hangout. By creating this never ending controversy he creates free and lasting publicity. It does work. When he takes calls from shareholders he always drops the hint to read message boards. This in my view is wrong.
I have known him for a long time with his frugal obsessions. Even more recent when he fought to lower the West Lake Village rent.
Point being, all through out his leadership "self labeling principal executive is not an accident" the engineering aspect coupled with the ability to issue shares is relatively easy to hide behind through lack of general technology education in the field of what things truly cost.
If you look at the 45 million in money Keith raised for this venture you will notice these issuances are at 1 cent , 6 cents, 10 cents etc. 45 million of cash burned through is telling enough, but if you look closer at the time of issuances you will see the 6 cent stock many times was sold for 20 cents , 50 cents or more during the price rises. So in essence even though 45 million in accumulated deficit was written on the books at the time of issuance, the investors in the secondary market may have paid several times that value. Potentially this company could have generated hundreds of millions in losses for the actual investors in the market. The 45 million is the absolute rock bottom number that the company valued them at.
The recent offshore investments will be impossible to audit. This is the importance of ethics in leadership. Just as a lawyer is only as ethical as his moral compass, a company works the same way. Personally I feel that CEO's should respond to an ethics review board.
When shareholders call in, he says " JNJ paid 50 million for this suit, then he says 90 million , then he says tens of millions" the number is always different. For him to make such statements is wrong and misleading. He has no idea what JNJ spends on this litigation. It is wrong to say he does.
Lack of ethics is what I am seeing. As a friend I need you to see how others see this.
