I see your point, KMP, but I think the CEO handled the question well. I was annoyed with the question. It was rude. Nobody talks like that. I listen in on conference calls all the time. It was bad behavior. It was along the lines of "are you still beating your wife" type of question.
FROM THE CONFERENCE CALL:
When are you going to stop selling shares into the public market and flushing share price down the toilet? I guess that it was like 210,000 insider shares sold in the last month by Scott and Zach and who else was it? It is three of them. You're just flushing the share price right down the toilet. And then, you claim that the market is mispricing it, but you're the one that's crashing it.
RUDE! It's like something from the Beverly Hillbillies show.
Whatsup with that? It's rude, accusatory, and a jump to conclusions. Zac was much nicer than I would have been. And Zac told his truth. And repeated it. If someone doesn't like the answer, you can't accuse someone of lying. Like the same ones do in this forum. If insider buying and selling was any indicator of anything, people would be rich following insiders. They don't even know what they are doing. I've seen insider buying for decades on stocks all the way to throwing in the towel. Case in point: Luby's (LUB). The Pappas brothers buying the stock from the time they took over the company in 2000 to present day. Covid19 was the final nail in the coffin. Now they are liquidating. Good for me, however, because I started buying that 2 or 3 years ago based on the real estate and a turnaround. Turns out the real estate is my life boat and Covid was the final nail in my turnaround ambitions.
The bottom line is that stocks follow fundamentals. It's more selling than just insiders. It's people they bought at Biotrack too. I'm sure includes Jennifer and her husband from Cannabase long ago. One was talking about selling his restricted shares to a firm that would buy them at a discount. Basically works the same as toxic financing in a way. And I don't blame anyone for doing that because people sell their hard work so that they can retire. The entire industry was priced high. On comparative basis, HLIX was cheaper than others, but on an industry comparison basis, it was very high.
You are correct that we are priced at a better p/s now. That's really all that matters. And can they scale, you ask? Well, it seems liek they have been scaling. They are growing. They aren't far from profitability. I'm hoping this $1M can be enough to carry us there. I hope they don't buy someone else. Then again, that's just my opinion. It's very competitive out there. First move advantage makes a big difference. KERN is putting on the pressure. They are being very aggressive.
Nothing is guaranteed in life. Everything has a risk associated with it. Nobody can make promises. These conference calls are not required by law. People should be thankful they even give them. And respect them and respect the people giving them. And treat everyone with the respect they'd like to be given in return. Unfortuneately, I couldn't find the dang key pad on my virtual whatchamacallit. I just wanted to say thank you and ask an intelligent question. I closed my window and never could figure out how to get it back. It part of a software program where I had group chats and individual chats going on with co-workers at the same time. So, chalk that down as another software issue.
I also appreciate that they had that confernence call transcribed and posted within just 2 or so hours on Seeking Alpha. The last two at NROM mysteriously vanished without a trace. And I was in both of those too! I can record these calls too on the same software I think. I need to figure out how to do that too! Much better behavior over there though. Very good questions. The problem isn't with Zac and Ogur. The problem is our investors. Amateur hour!
