If you did not have any shares of Michelex and knew nothing about Michelex and were given a 'tip' to check it out, what would you think after calling the IR number and getting a disconnected message? What would you think after you did some research and discovered that the company put out some great PR's but never followed up on them? What would you think when you discovered that there is some sort of internal 'impasse'? My guess is that you would not be too impressed nor would you be purchasing any shares above triple zero's, if any at all. Just a hunch on my part.
Now, given that we know the back-story and have some history w/ Michelex, and given that we have money invested, we see things differently than someone who might just be coming aware of Michelex. For my part, Michelex has taken quite a few steps backwards this year. Do I think Michelex is doomed? Not necessarily, but my calculation of the probability that it will succeed is much lower than it used to be. Of course, that calculation is always being modified based upon the information that I have available.
I hope Michelex is very successful. However, I do not see that occurring unless there are some drastic changes in regards to how Michelex is being managed.
GLTA
