That is typical CEOspeak BS. Here are some realistic answers:
1. Colleges and Universities don't do research for free. Someone has to fund it. The PI needs to get a grant. Gene soliciting Universities won't accomplish anything.
2. $500k is a drop in the bucket for this company. They need a LOT more than $500k.
3. India is a VERY poor country. End of story.
4. They've filed an extension for every quarterly report in the last couple of years -- they will do so again next quarter, and next quarter, etc. but who cares if the financials are a little late because they basically have no sales to report.
5. The cry of "Turkey" has been the golden goose (I mean Golden Turkey) for the past couple of years -- and Gene is still dishing out Safe Harbor nonsense like "our Distributor has told us that they believe that they expect that they anticipate...."
6. The company doesn't make money on machines. Where are DISPOSABLE revenues from Nigeria and Turkey?
7. The Board is shunning Gene? sounds fishy. And the debt owed to Gene is not the problem. The debt owed to the toxic lenders is the problem. Gene isn't converting debt to stock at huge discounts and dumping that stock. Guess who is?
8. China Hype is China Hype. "Second half of 2019" would be the best-case scenario and we all know that FDA (and CFDA) clearances never follow the path of Best Case. The CFDA is likely calling the device a Class III device which is NEVER easy to get cleared, especially on the first attempt. Furthermore, (a) "We're having discussions with them" and (b) "SMI told us yesterday" sounds like BS -- (a) Why would they NOT be having "discussions" with SMI, especially about that long-overdue $250,000, and (b) SMI told Gene a lot of things in the past 18 months, and who knows if ANY of it was real, other than the initial $750,000 payment?
Can't blame Gene-O for doing his job, but CEOspeak is CEOspeak.
