Here is my note to HDC, given that the company was 'too busy' to respond to my initial, and very appropriate, inquiry from yesterday.
George, I’m actually quite astonished (in retrospect) at the degree to which you and your colleagues deliberately took advantage of my early support for the team. I’m sending you this personal note because I want to convey to you that you had no right to do what you’ve done to me, and certainly to all shareholders.
I hoped for better, and the issues that subsequently surfaced, which revealed that the team was sometimes deceptive, was sometimes less than honest, and was sometimes ridiculously smug, clearly led me to understand that my support was erroneously based. Simply stated, you had no right to do this, and from a basic “decency” standpoint, you need to focus on either telling shareholders what is really going on, or sailing into the sunset after relinquishing your deliberately orchestrated equity in the company (at shareholder expense). George, I have no respect for you or any other members of the team, who portrayed themselves as ‘good guys’. Well, since it’s 2021, please tell me how you are ‘good guys’. Who the hell runs a company which, after over three years, hasn’t taken deliberate steps to generate revenue? In my line of work, if nothing is accomplished in 3 weeks, I ask questions. In yours, 3 years with nothing? Of course, all shareholders know at this point, since the answer (clearly) is a team of individuals who had a ‘get rich quick’ strategy, that hasn’t unfolded. Now you’re in a pickle.
You had the audacity to deliberately convey to shareholders in 2019 that the organization was focused not just on legal matters with Intel, but also on moving the company forward. (Of course, I can’t help but convey that I have always found it astonishing that you stated in your 2019 shareholder letter that it was the ‘first time’ you had a chance to write to shareholders. You took over control in 2017. In other words, this is simply another example of whom you really are. Who the hell doesn’t have time in two years to write a letter? Your lack of integrity was telling at that time, let alone now). Since it’s 2021, and nothing has been done to move the company forward, you were clearly less than honest. You also know that the so-called ‘Annual Meeting of Shareholders’ last year was a disgrace, and you’re very conscious decision to reward insiders for their ‘ongoing contributions to the company’ as your first order of business post-meeting, was not well received.
Perhaps you are missing something, so I’ll tell you directly. Inasmuch as shareholders hold out hope that the Intel suit will result in something favorable, REALITY says that the company will soon be bankrupt. Everyone knows that you are dealing with multiple lawsuits, which are draining money, and Quirk is now laughing in your face. You could have avoided this, had you been the ‘good guy’ that Mr. Delmonte deliberately lied about. So either he’s a ‘loyalist’ who will be inappropriately rewarded, or a stooge. I happen to think he’s the latter.
I am going to hope that you don’t try to settle with Intel for a very minimal sum to get yourself an easy exit. You don’t deserve it. Nor do shareholders.
Shame on you, George, and shame on the entire team. I’ll be watching closely.
