A friend of ours sent us the audio file of DSS's virtual presentation at LD Micro.
Wow...Wow...and Wow. We knew it was gonna be a rough ride 15 seconds into the recording.
There's no other way to say it...we're speechless, but we gonna speak. It was virtually embarrassing. It was incredible to hear two alleged corporate executives obviously read from a script and give such a horrific, paper-shuffling, English-language torturing, blathering presentation. The CEO sounded like a cross between Biden and Elmer Fudd. He made sense of the business exactly zero % of the time. We're still not sure what the "Sure Thing Frank" COO said other than a bunch of gibberish and corporate buzz-words. It's hilarious that they are positioning the company as a voracious M&A outfit when the only M&A-ing that they are doing is cleaning up Chan's idea box.
We will give them credit though. The CEO said that "we have reduced our monthly burn from $250,000 to ZERO"...yup, ZERO burn, not spending ANY money on a monthly basis. We didn't think it was possible, but when you don't know what you are doing, how can you be wrong???
We think its incredibly misleading as well when the CEO indicated that Impact Biomedical has assets worth between $380 million-$900 million. That couldn't be farther from the truth. We just don't understand why this company prefers murkiness rather than providing transparency to the market.
Oh yea, but it's good to know that the company is "American-traded".
Chan, maybe you should think twice next time before you wind these guys up and set them free in a public forum. We are recommending to the board that they start looking for more competent, successful leaders. These guys are better off under a big stripey tent.
We really wanted to be good little shareholders and were hoping that these guys were going to do it the right way. Unfortunately, they aren't giving us any logical reasons to stay long. Time to ponder.
