Tuesday, April 02, 2024 5:18:43 AM
I spoke to Jon Scahill. I find him to be a good guy. I expressed my frustration with the stock, the website, the progress. How we NEED a critical mass of activity and not one big win and then years of silence. He understands. He has the support of his main investors....the 25 million and has to justify every move before they send him cash to purchase new IP. The 25 million investors are happy with the vision and direction of the company. Their timeline is different then ours. They have been here for a few years. I've been here for 25 years this June. The two things I walked away with were 1. Quest will no longer mess around with little IP assets, things like M Red, Peregrin, etc. Old IP that someone wants to unload. The focus / future are assets like Taasera and Harbor Island. Finding these assets is more time consuming --young IP that has significant value---that someone is selling. So it is work. 2. They are in a place where they are stable as a company. When they are in negotiations they don't have to take the first offer that comes their way.
What does this mean to us? On one hand the company shouldn't disappear in the middle of the night. Over the last 25 years I thought that was a strong possibility. On the other hand I think we are going to have to continue to wait and see if this company can grow. The last thing to note was a gut feeling...I think Jon is hungry and testing all kinds of waters for all kinds of opportunities...maybe that will bring us surprises down the road...maybe not.
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