The problem is that incompetent evio mismanaged the past three years so badly there was no goodwill to give. The here was no premium built in because of the intense dislike the market had for William Waldrop and Lori Glauser. The two founders of evio and its two largest shareholders as well as the ceo and coo currently. When a leadership team goes out and does road shows for their deal to raise money they speak and “perform” in front of hundreds of people to pitch the deal and themselves. In a hot sector like cannabis there’s a lot of exuberance. Brokers, market makers, investors, bankers get to hear and see the pitch of the founders, what’s their vision, how can we get a piece of this vibe.
Except William Waldrop and Lori Glauser had the exact opposite impact on the market confidence and share price. Everywhere they went they unimpressed people so much they had an impossible time raising any money and forever were forced because of their own terrible personalities and total inability to impress or inspire anyone destroyed the share structure by going what 8-10 times to short term loans for funding from predatory scumbags. Not once did Waldrop or Glauser pay any of the loans back on time to prevent the trigger of a low price and a huge conversion followed by a big share dump that cratered the stock price.
So while every other Cannabis company on earth was building goodwill and irrational exuberance into their price they 2016 - 2017 evio was busy destroying theirs.
Speaking of Canada, what new level of total screw up incompetence did Waldrop and Glauser pull off to see the Canadian listing of the company get yanked a month ago? What level of incompetence and arrogance is it for them to even now months after the fact make no comment on wtf actually happened or when it’s resolved. Is the company even interested in listing in Canada still, who knows? The shareholders have no idea, but hey pretty clear evio management just pay the shareholders lip service. Waldrop and Glauser have treated this like their own private company with ZERO regard for the shareholders. NONE. Who was responsible for the screw up and have they been fired yet?
Waldrop and Glauser have NEVER operated a large cash flowing public company previously and it painfully is obvious. They cannot inspire the financiers, market makers or accredited investors to support the company stock, they can’t manage the paperwork or intel irs of an international company and its regulatory requirements. They have no concept of the needs of data and information the market, shareholders and media require on a regular and informed basis to maintain the least bit of investor confidence in a deal.
The simple fact remains their time has passed. Waldrop and Glauser are incompetent people to operate a company. The startup phase has passed. The passion is no longer required. Competent people who can inspire confidence and provide inspired leadership. Or two losers who couldn’t inspire an ant to a picnic.
