The problem is, I'd really like to see the plan for acquiring those profits/revenues/assets. So far, the only plan for acquiring assets that I saw was selling more shares.
I understand that this is a startup, and having started several companies myself, I understand how hard it is. However, to start a company, one can either do it from his own resources/bank loans/venture capital, like I did, or one can go public to raise those funds. In the first case, you're the one taking the risk, but you're also only responsible to yourself (and the bank, if you took a load, but forgive me for not sparing any worries for the banks, they can take care of themselves just fine). If you go public, you're responsible to that very public, and part of that responsibility (that is, unless you're running a scam, or are unfit to run a public company) is to keep your shareholders informed on:
1. What your plans for utilizing their money are.
2. WHat your plans for increasing their value are.
3. The events which affect the value of their shares, including the share structure.
Of course, all 3 have to be honest, as well.
These are quite demanding and often unpleasant preconditions for running a public company, but that's the cost of having an easy access to capital, as opposed to, say, getting venture capital or a loan.
It looks like, for whatever reason, the CEO in question here seems unable or unwilling to meet these conditions, and that's pretty sad (for the shareholders, that is).
That being said, it's one's own fault for investing in a company that doesn't meet those conditions (which doesn't excuse a company from meeting them, of course).
Also, wasn't there a law protecting small shareholders, which, aside from everything else, prohibits raising AS/OS count without a shareholder meeting? I might be wrong, and it might be something from the 80's and long since abolished for whatever excuse, but I'm quite curious to find that out. If anyone has any info on the subject, I'd appreciate it if you let me know.
The usuals, whatever I post is my opinion, yaddayaddayadda. I'm still learning this, so if you listen to me, well, good luck to you :)
