Micromem Technologies Inc. (MMTIF)

[Ramberts]

I think a lot of people are missing the point that the new consultants are not employees and MMTIF doesn't have a lot of cash for consulting work...They are going to need to raise significant funds for them to do meaningful work which is going to be really tough without any announced progress and further deadlines missed. You can't keep telling people 1st quarter, 2nd quarter, by labor day, in 2 more weeks and keep missing these targets and expect them to continue to invest in private placements and bridge loans.

The PR also was not very specific on the terms in regards to length of time they are working for MMTIF, which is probably a one-time sum for a specified amount of work, maybe hourly, but how many hours can they afford? These people own businesses and have jobs of their own, they aren't doing this on an IOU future cash payment basis and potentially waste their time. From my experience it is cheaper to have employees than contractors for the long run, eventually they need to bring someone in with technical know-how.

It is shocking to me that the company did not release a "We thank SVF for his service and wish him luck in his future endeavors." The guy had 15 years+ of service at MMTIF. I don't think that did that for Larry Blue or David Sharpless either, that is standard practice. That is telling me there has been significant strife, is anyone even on the same page at this company with Joe Fuda? Not a good look, very petty.