What still amazes me about this guy is his sheer audacity. I've been in this game a long time and I certainly understand that CEO's will always put a positive spin on things and play games with the numbers and it's the investors job to read between the lines. However, what this guy has been willing to say publicly in order to keep his narrative in tact is truly incredible and he continues to get away with it, enabled by his inept BOD and analysts he can count on to never follow-up on his previous statements.
Take the Q2 Conf Call for example, which took place on 8/16, half-way through Q3. He was still sticking with his 90K year-end asset target - implying 23K more assets by year-end - and indicated it would be weighted more to the 4th Qtr with "... mid-thousands in this quarter, and then double digits of thousands." Just think about that for a second given the context of what we now know from the Q3 call in November. He's telling us they will do "mid-thousands" in Q3 at a point where they had done virtually NOTHING in the Qtr up to that point and were in the process of converting their platform to the Google Cloud which apparently shut-down their connection activity completely. He HAD to know this at the time he was giving us his phony guidance on Aug 16th. In fact, during the Q3 call he said the Google plan actually was initiated back in July 2021 and "we finalized everything by August (of this year)" Yet, he still had no problem telling investors in the middle of it all that he was still on track for his year-end goal.
There are numerous other examples, which are just as egregious that I could provide. I've even sent numerous of these examples to the Chairman, Michael Allman, but never got a response. They are all complicit, including the CFO who has gone right along with all of it.
People love their end of year "Lists". Perhaps a Top Ten list of Mcmeekin's biggest loads of BS is in order ...
