It is very clear that the frustration level is very high at the moment. Reading some of these posts about how terrible Eric is seems uncomfortable to me. So let me just summarize my feelings about what is happening and what should happen.
It is very unusual to have a CEO take the time and clearly make the effort that Eric has done in trying to keep shareholders informed via this forum. After all, we want information in real time and while there are many complaints about the lack of a national account in the USA, I think Eric did the prudent action at the time in telling us the situation. It is unfortunate but the truth changes over time. Coordination with Lowe's probably was on track for inclusion of the Winning Colours product a long time ago, but internal decisions move at a pace that Winning Brands could not control. I think everyone intuitively understands this problem.
And yes, there are lots of other problems as well. Some people like to point out the low volume of sales per store. Others are complaining about the financials and yet, the company is making progress with product placement and doing many things that appear to be very sensible.
I am long on this stock so obviously I have a different perspective from flippers. And while I am extremely disappointed that we haven't hit that explosive growth period, I very much appreciate the challenges that exist here. Could Wal-Mart Canada have been saved? Probably, but at what cost? In all of these decisions, there is a balancing act involved and offering them a much larger discount would have discouraged other companies from competing with a larger entity that could offer the product at a much lower price.
Personally, I think our number one problem remains recognition and that is why I was very happy to see the DRTV campaign begin. The other day I was inside Michael's and saw these bottles of Grandma's Spot Remover there. I didn't know anything about the product and I am sure everyone else is in the same boat. And our perspective customers have the same issue when they see Winning Colours on local shelves. We need to solve that problem and then sales per store will begin to change. People aren't looking for it because they don't really know about it. And Winning Brands knows about this problem and they are working on it. They are working with leaders in the DRTV arena and will likely find the solution where dollars going into advertising are creating enough dollars in profit to sustain the campaign. In my opinion, this is the keystone to the entire business. Otherwise, we will always see product sitting on the shelf because nobody knows if it is any good or what it can do.
And for what it is worth, some of the posters could certainly show a little more class in what they are saying. Less personal attacks and more focus on the problem in a substantive manner. I don't read them daily but I would imagine that having to traverse that type of writing on a daily basis must be depressing.
Everyone is looking forward to the news from the conference and I hope we gain some constructive perspectives that can be shared with everyone.
Regards!
Brolay
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