The GOOD from the news:
1) Sales personnel (when actually hired): CEO has more than half a decade of not closing much ballyhooed, game-changing "deals". Also, it reduces the risk to shareholders of the ~30%, undeserved, over-the-top "bonus" to CEO, for just doing his job, (if he ever brought a deal to company that actually went through).
2) Repayment of $700K personal loan
The UNBELIEVABLE in today's news:
The explanation of the personal loan: If CEO had provided resources to company, the resources should have been recorded as liability on Balance Sheet, but are not. The beyond-over-the-top evidence of more than taking care of his interests is March 28, 2023 issue of 100M shares (6.5% of company) to himself, valued at $2.67M at the time, for legitimate principal and interest of $118K (22.5 times the value). Maybe, he perused the charts on X and comprehended the warranted bad look of the facts of the "noteworthy" achievements of recent years.
GOING FORWARD:
1) CEO needs to ensure currentness and accuracy of financial reports (in Section 4) et al, removal of out of date information from past failures) for credibility, to fulfill responsibility to shareholders, and also look like he actually has read the report before signing off on its so called "accuracy", his legal responsibility.
2) Bring Sales personnel on board, who are successful (i.e., raising sales from hundreds of $, to hundreds of thousands of $, and millions of $).
3) Put out credible, accurate, timing and traceable information for shareholders and potential speculators/investors. Note: Still waiting for and chasing answer to growing discrepancy on "official" PR information on state licensing and "official" financial reports revenue recorded. Tomorrow will be two weeks.
Like always with CEO, we'll will see, or not see, as the case may be.
