When companies scale they get exponentially more complex. Going through the phases when you have 10 people is much much different when you hit around 50, then another at 100, then 300, 500 and so on. If a company grows one employee at a time, it all in one spot, the scope of it is MUCH easier. Doing one's homework applies when one has the systems and process in place already to facilitate the need. When one rapidly grows, has much more homework to do and not all the processes are in place OR the resources to handle it. Running several locations, along with trying to bring up new one, getting new products, KS campaigns, dealing with audits and resources, in multiple different businesses under the same roof. So, all that happening and suddenly bring up another acquisition that has to be integrated, then an entire new manufacturing line in another country, and everything from tech transfer to customs hits.
The implications that there wasn't planning and strategy is not unsupported. Its done, it continues to be done. But, when homework and planning meets the real world given extremely limited resources and many different irons in the fire oh how priorities change. Suddenly French customs gives a shit about a tiny Unicorn figure horn? You knock open a wall in construction and the electrical isn't quite as expected? City sits on your liquor license, the prototype first runs of cards don't fit in a box? The city decides to put in light rail at one of your locations? You acquire a company without obligations but recognize you need to make an ethical one? Your auditor gives you dates over and over but keeps missing them without consequence and throws and insane last minute curve ball? OTC waits longer to pull your stop sign than the normal 24 hours because they got too many filings? On and on and on and on... Thats business in the real world.
Its clear they need more resources, as I have often stated, it is always a balance in growth companies to have someone do all the tasks, but eventually each task requires a dedicated resource. Those new resources will be coming, but they needed to get through this phase zero first.
Its a bitch to balance, and is especially sucks to be doing it in the public realm where every single one of you employees gets to see you roasted daily no matter what you do.
So, sure, lessons learned, I'm sure going back Roger would not have even done FY16, just started out doing FY17 and 18, and use a different auditor and simply keep communications on it in the background. I'm sure anyone who could 'go back' in life would make an untold myriad of changes from minor to major.
However, they continue to forge ahead, and progress is made and the fundamental base is sound for a company at this stage. It is a higher risk investment? Of course it is, anything by default in the OTC is. I've never shied away from that statement. I simply CHOOSE to be part of the SOLUTION, and CREATE and see where the company has come from, where it is now and where it is going, and the frameworks that surround it.
I SEE a growth company growing. I KNOW the pains they are going through. I UNDERSTAND how complicated things get when you have a couple hundred employees and not enough resources to do the things you need to do. I continuously EVALUATE the information I derive from all of it and continue to be optimistic on the future.
Its HARD to CREATE. Its EASY to DESTROY or criticize.
I look FORWARD to the continued GROWTH and SCALE of this company.
$FUNN
