from Agoracom- Very good summary:
Just a short year ago, we were riding the high with what TO had expressed as "the perfect storm" with the H1N1 threat and the Olympic sponsorship. O how things have changed with Alda closing below a dime today, or about 50 cents shy of where it was trading around the same time last year. I remember TO being arrogant then saying that we'll look back at 50 cents and think it was cheap. Now, all we hear are excuses on why things didn't pan out. From market conditions in Europe to whatever you like; the finger-pointing is endless.
What irritates me to no end is the Olympic opportunity squandered by Alda. Seeing first hand how invisible and uncommitted they were to making the most of the expensive undertaking was unbelievable. I am convinced that management just thought, well we'll throw a bunch of money on marketing and as sales were improving, we'll sit back and just have investors and sales chase us for a change." Meanwhile, all this accounted for was a few bus stop signs and mostly empty T36 dispensers at a few venues. Retail Store owners were frustrated by the poor distribution and communication by Alda, and some have refused to carry their products.
I believe that TO has lost his focus and motivation with Alda. I mean, he makes a good income from the company so why should he bother. The gross profit of $18k from all sales in the last quarter doesn't even cover what he collects in a salary. Now they're scrambling to fund the company's activities by doing PP's and with management taking the lead.
Who are they kidding? It's not a sign of confidence because not only are they selling shares to participate in the PP, but in essence money received from the PP is just siphoned back into their personal coffers from the salaries "earned." I cannot believe shareholders just sat back and didn't rattle the cage in the recent AGM. I put my votes in to shake things up, but it seems like TO & Co. got their way. If management really wants to show us their committment, take $1 as a salary in 2011, and buy shares with their own money and not someone elses.
I am seriously concerned about this company and as a shareholder I truly wonder how they are going to stay afloat this year.
AI
