Thanks for taking the time, TDS, and I appreciate your take. I’m an investor in a small-float company and the CEO and insiders hold all the cards, but when he wanted to increase the number of A/S, he informed the shareholders and brought it before a vote, and even though everyone knew it would pass anyway, shareholders had an opportunity to participate and/or sell/freak-out. I voted FOR the increase because it was a logical and necessary step to support growth. Plus, this particular CEO is someone whom I trust and someone who is very cognizant of how shareholders view dilution and uses every share sparingly (there are still only about 11 million outstanding), i.e. he CARES about the people who have put their faith in him and their hard-earned money into his company.
When I first ran into CBAY, the O/S count was something like 8 million, and while I appreciate the tremendous growth, my opinion of how Pawson has gone about it, at least as far as his treatment of the shareholders, is way, way over there on the shabby side. As to poor Tim Garlin, well he must be a nervous wreck because it's become apparent to me that Pawson isn't even clueing in the IR guy. Increasing the A/S and dumping shares at will is NORMAL in pinkland, and that’s all just a crap shoot anyway, but this company is NOT in pink sheet land, and increasing the A/S is a BIG deal, so if Pawson seeks to be viewed as a legitimate and trustworthy CEO, then he should hold himself to higher standards, even if NOT REQUIRED to do so.
As I’ve said from the beginning, it’s all about TRUST, and it's a serious lack thereof that seems to be holding CBAY down. I think it's a downright shame that yesterday's great news was so overshawdowed by Pawson's actions.
(all jmho)
