Mr. Twombly,
How do you rate your job as a CEO? Do you think you've accomplished much since 2015? There's no product, no company, no true assets. Stock is down 99.9999% from IPO. What have you accomplished for the shareholders? You've certainly lots them lots of money. Effectively, all of their invested funds are lost.
You may say, but I've been working, doing, going to trade shows. All that is great, but ultimate goal is what? Increasing shareholders equity. You can work, do, and not achieve anything on your own dime. Why run a publicly traded company?
Ohh, or is it a way to fund a life style with investor dollars? That would certainly be fraudulent and malicious intent.
Investors want clear, regular, timely communication. Every week you publish a synopsis of what was done. You provide substantive proof of what was done. Where is product sold? Price points? How it is advertised? What are the distribution capabilities? What are the challenges? What are the prospective benefits? Quality of work matters.
On that note. A new website that was promised for a year is now published? But really? That's all you could do with a free website builder package that's not even done well? If any money is spent on web services after seeing that product would be fraudulent to post in the financials.
Financials. Audit the financials! At this time they're so minimal that it wouldn't cost much to do so. Bring all the sources, invoices, expenses, etc to a CPA, simplify CPA's work, and you will be able to boast that financials have been reviewed by a third party. Can you do that? It's an expense worth having. Or will you provide another excuse for not being able to do so? Keep in mind, any time you can't provide something so simple is viewed by your investors as fraud. Intentional, misleading, fraud and theft of funds.
Jim
I look forward to hearing your concerns on the conference call.
Larry Twombly
CEO
