This is a great post. It should be a sticky.
All posters need to realize 1 thing. This is a message board for investors, it's called Investors Hub. The object of investing is to MAKE MONEY. Losing 99% of investors money while being lauded for advancing a Phase 3 trial is a disaster of biblical proportion. Let's be sure on this, this Company is a disaster.
Linda Powers has been a disaster as a CEO.
She estimated a total cost of 10-15M for this trial, the numbers I've been hearing are 10X that amount. For this epic blunder she should've been fired.
She was the owner back in 2005 when the split adjusted high for the year was $2,520. Now we sit at 23 cents. She should be fired many times over for the investors lives she's ruined while she personally became rich many times over.
Both the Primary and Secondary endpoints of this trial have long been surpassed. This trial has failed, period. At no point did Linda Powers give advance notice that primary and secondary endpoints would not give way to an unblinding. She should be fired for misleading her investors many times over on trial duration and cost.
Back when the share price was $12 what would've happened if Linda Powers used her CEO skills to estimate how much money she needed for completion of the trial. She could've sold 10 million shares at $10 each. They would still have money left for completion of the trial. Outstanding shares would be around 90 million as opposed to 1 Billion. Share price would be AT LEAST 10 to 30 times the 23 cents it sits at today. Just think what could've happened if she was a smart CEO.
Keep those honest posts coming. If you haven't noticed many of the longs have stopped supporting the Company via posting, they still hope for trial success (which we all do). There are still some delusional longs who are unable to utter a negative word on management, but those numbers have dwindled significantly.
GLTY
