PharmChem Laboratories Inc (PCHM)

[LMLYP]

I have not forgotten negative internal study research results that MAY be hidden within the company's files … just speculating the possibility, not accusing. Things said on the stand. It's all there.
AND WE THRIVE.

When they screwed their lenders, wouldn't it have been a little bit nicer for them to throw in a few shares to them for potential upside. Why didn't they put that in the 7 cents on the dollar offer. WE ARE DOING GREAT.

As for investors, they actually once proposed a reverse split when it was breaking down below listing requirements. I do remember a "salary cut" proposal ages ago. in a "were winding down almost everything filing", when I believe David would be the only one taking a salary. Maybe it was just Joe. I don't remember. Things happen. Nothing is perfect. They should have gotten paid. It was a million dollar business. OPERATING MARGINS ARE AT RECORD LEVELS.


Even if Patch 1.0 is destined to be joined by another product since products change and disappear over time. That has been hinted at in two, maybe three letters, whether or not it happens. They address expanding the panel, which keeps them competitive. We do have very high regulatory risks.

The big cash position, up $900,000 to $3.9 million, will help pay for the initiatives laid out. Of course, cash is possibly up another $600,000-$1MM since then (minus forward dividends). Let's say the company makes zero investments and we grow another $600,000-$1mm in 2019. That's a buck in cash. HELLO


The fundamentals and dividends have maximized shareholder value. They hint at MORE COMMUNICATION next year. Now granted, it may only be technology related, but that should narrow the gap of the no communication discount we get.

There are at least four histories to this company. Most far from perfect. But as the letter says, given the challenges (blah blah blah not teasing them), we're okay. I've done well in the stock and am about to get six cents. I will probably take the "fool me once" approach here. If I see another grab, I'll vote no for sure. As for now, pollyana needs a little more educating. I appreciate the two "vote no" posts greatly.