It could be that former C-Suite just doesn't want the headache. People get tired of running businesses that's for sure. There's good money in outside corporate counsel so why waste time when sales revenues aren't coming? If you can't convince someone that the product will make their lives easier and more efficient ultimately saving them time, which makes them more profitable; medical device sales can falter quickly. With Doctors, you have to convince them fast(they don't budget much time for waste.) The head of the Canadian Skin Cancer Foundation that tested it and liked it was very reticent about the device when he first seemed to happen upon it at the San Diego convention. But, he was witnessed adopting a let's follow the science and test it attitude by the clever sales team saying the right words at the very moment he was at the booth and "pow" he tested it and liked the device. If memory serves he ultimately gave it a solid thumbs-up. That was a really fantastic Dermatologist.
Verisante could have caught several different breaks of luck and this would be a different story, that's a fact. Would be willing to bet many of the problems and holdups, as in many instances, were just miscommunications. That's the sad part.
If no one steps up and files anything, what do you think are the chances for a group of shareholders to ask a judge for a custodianship?
All of that said, I probably wouldn't use the corporate troves for Medical Devices going forward.
I believe I know there is a way to capitalize from the ticker and the corporate trove of data and shell it to the U.S.
There would be a requirement of an iron-clad non-disclosure agreement being signed before I conferred the strategy. The non-disclosure agreement would have to be signed as being valid in the U.S., Canada, and all other Countries that abide by laws. My attorney would be in the U.S. and the business for going forward would likely be HQ'd in the U.S. as well.
Let me know if interested. Maybe a group approach is best.
