A question to BTDG management and supporters of the company :
Background :
-The price of BTDG stock has over the 10 months has declined sharply
- The company management seems incapable of financing the company to achieve its objectives even if they are achievable ones
- Disclosures at the very least are confusing. Witness how difficult it is to even get a consensus from investors what the company has or doesnt have, how many outstanding shares, what type of accounting is employed by BTDG.
- Every business initiative undertaken by BTG apparently has not been a success or cannot be implemented for whatever reason.
I believe these are objective comments. I have not written this is a scam because the information that is available indicates definitively simply inexperienced and incompetent management. The rest are just opinions at this stage,even educated guesses perhaps.Incompetent is a strong word, but management repeatedly fails in advancing the company. The CFO who doesnt understand accounting or what is material to disclose one can say is definitively incompetent and should be fired. The CEO may be under such pressure with judgements against him and the company, no cash flow, and multiple acquisitions to manage, simply overloaded and in over his head.
The HIP HOP strategy may be a good one. HIP HOP plus a dormant hotel internet business plus mortgage lending plus lead generation plus a sincocan potential plus some mining claims in canada may have a synergy that is unapparent to to the rest of us.
So the question (or actually 2) :
Should the CEO step down ?
And if the answer is no, what should the criteria be for CEO to stay in that position- i.e. what timetable to achieve what objectives should be required for CEO to keep his $120,000 per year job ?
So BTDG management or its supporters care to answer ?
It is admirable that CEO has a sense of loyalty to CFO, but his ultimate responsibility is to shareholders. A CFO who prepares financial statements that ignore $180,000 in expenses, books them in any case in the wrong period, ignores the judgement liability, etc etc needs to be fired. This would send a strong signal to market that CEO actually wishes to build the company.
As would directly confronting the gold reserve issue.
