Another earnings call tomorrow. Thoughts on last call and expectations for this call.
Post your questions on ihub so everyone can see what Venegas chooses to answer and dodge. Time to revisit this company and see if it’s worth upping my position at these prices or time to finally accept my losses.
My reaction from last call. V. Fox answer makes no sense. HLIX hasn't impaneled him b/c Mexico cannabis has slowed? The newsrelease was 2/25 in 2019 long before Mexico slowdown. Global name recognition and doors he can open still means something. If V. Fox was on the board or strategic advisor or even shareholder he'd draw attention and credibility to the company. V. Fox name drops Khiron regulalry but I can't find one instance of him mentioning Helix. Venegas must have gotten ahead of himself and made newsrelease and SEC filing w/o Fox having actually been closed. And yet the company never made a followup newsrelease or SEC filing to announce that Fox would NOT be joining the board. That has to be multiple SEC disclosure violations and would alone be basis for a shareholder class action.
V's reply to my valuation comparison to KERN was fine for first part but he ignored second part. If HLIX and KERN are comparable why the 5x delta in valuation? There are many reasons but I'll give one. Though Venegas' vocab sounds straight out of a b-school textbook, he lacks honesty. Like Trump he gives himself an A+ while ignoring questions about where things suck and why. How about "I fucked up. I announced the V. Fox thing before he signed and then he backed out"? Or "I relied too heavy on convertible debt in our early years and that's caused a flood of shares the market wasn't ready to absorb." If V showed that he made mistakes and learned from them, more ppl would likely be interested in the shares, but since its "we're awesome" all the time no one can get a real feel for company performance or its future so they just invest elsewhere. KERN's Billingsley is far better at showing she sees the issues and has a plan to fix them. By V ignoring the bad, investors can't tell if he's blind or if he thinks investors are blind.
That segues me to the 10b5/insidertrading crap. His answer is he's selling 5k shares every Tuesday and Wednesday b/c 10b5 is out of his control and he wants to not trip insidertrading. 10b5 can be canceled anytime w/o triggering insidertrading and everyone knows that. 5k shares per day isn't much, but then just answer question honestly. If you're hard up for cash even earning $200,000 per year b/c the girlfriend your wife doesn't know about has an expensive my first jack rabbit habit, just say “I’m selling because I need the money,” and we can all move on.
Venegas ignored all my other questions about loss of Maine contract and state of gov’t contracts in general, Seedtosale 2.0 status, and Americanex acqusition impact. Trying to decide if they’re worth asking again.
Venegas' and Siegel's orientation is no concern. However, if there is an inappropriate relationship there that is at the expense of shareholders then shareholders need to know.
