There is one positive thing that came about from starting this legal process, which happened because I made a mistake in publicly posting my phone number. I received an unexpected phone call. I will not share much because I have no intent to burn the person who called me. I believe the call was very credible, as did the one person I shared it with. The caller pretty much confirmed my opinions of the current situation.
The caller, who has as much at stake as any of us, and more than most, also confirmed that longs will be fine--eventually. There are no schemes to go private, or sell, or any other schemes. Basically, the company is run by a close knit group of friends, who were not chosen because of their competence to run a public company. Insiders are not selling. Most still have convertible notes, which are completely illiquid presently. The CEO may not be loyal to us, be he is to his friends.
We have found many contracts (thanks, EdF), but most are not that lucrative--yet. $6 million, as mentioned as a forward looking statement in the 2019 financials, is realistic for this year. However, there is more to the story, regarding when some contracts kick in. I am looking forward to this September, and really looking forward to next year.
For those of you who are worried (as I have been, also), I will say that I am thankful I still have my shares. Also, consider who, on this board, are continuing to accumulate. They know a lot more about this company than most of us. It may seem like it, but they are not acting on blind faith. Please, take heed.
We have something going for us. Some of us on the board have speculated on this, but it was also said to me by the person who called me. The CEO has incentive to get things straightened out because CareClix's stock going up is the fastest path to achieve his goal of becoming a billionaire.
That being said, the person I spoke to said we should absolutely continue down the legal path we are currently pursuing. I feel like the purpose of the call was encourage me to proceed with the attorney, and to give me background information that might be helpful. To reiterate, we are looking for information, not harm to the company. Sometimes the best thing that can be done, is to turn the light on.
I want to thank Leveraged for his continued insistence that we take some action. In the last two days, I have come to believe, even more, that it is very important to act quickly. And, the more people who join in, the stronger our position. We still don't know costs, which will, or course, have an impact on how much we can do. However, if a company does not comply in providing information, and a judge feels we have a basis for a request for financial information, Virginia's law requires the company to pay all legal costs and other expenses.
