MLR, I agree. I think Paul made his PRs sound overly optimistic with his timelines and investors (me included) got really excited and expected things to start happening immediately. However, I don’t think anyone (investors and XMDC) took a realistic view on the level of work needed to get through the KFDA process and the time needed to get to the point of sales. Now reality has set in and everyone is beginning to realize the time commitment involved and people are disappointed and angry that Vegas will have to wait. As far as I can tell nothing has changed, just the timelines to get the program up and running. I do think the company needs to be careful on the PR wording and ensure that what they say is what they can deliver. PRs with comments like a “week or so” set expectations and when the company does not deliver on those expectations investor disillusion, frustration, and fear begin to surface, more so since this is a pink stock without a proven product.
I know the bottom line is for the company to get their program up and running; however, I also believe investor confidence is very important and Paul needs to hire someone with the job responsibility of being the company’s investor relations person. I think people have an unrealistic view of their importance when they email Paul and get irritated when he does not respond. But realistically, how many CEOs of publically traded companies respond directly to investor questions, I’d guess not many. However, when investors email the investor relations and get no response at all, not even an acknowledgement of receiving the email, then I think there is a breakdown in communications and that particular area needs to be addressed.
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