Can anyone tell me what management has been doing at CBAI for the last 18 months?
Well, I can only assume your question is in part facetious. Over those 18 months, I count 46 news releases about the company’s accomplishments, not to mention the quarterly, detailed 10Q and year-end 10K filings, plus other filings.
Can anyone tell me what has happened to all of the stated goals of the last CEO? What is still viable, what is not? If the goals have changed, how have they changed, and why?
At the time of the reverse (this is what I assume you mean) management stated an intention to move forward with at least one of three possible acquisitions and land on a more established exchange. That was based on a successful reverse, and the eight week period after the reverse when investors could not trade at discount or on-line brokerages destroyed credibility for some investors, which we need to work to restore, and limited the positive impact of the reverse.
What is the specific plan that current management is implementing? Is it identical to the Matt plan?
In the May 21, 2011 news release, the Company very carefully stated that it was taking a 90-120 period to evaluate each and every segment of the business. We are still in that period.
HOW DO WE STAY IN BUSINESS WITH NO SHARES TO SELL?
I guess that would be like asking, how do you maintain your home if you lost your ability to use credit cards. You work hard to ensure that every dollar spent is well spent and you cut what you need to live within your budget. Again, this is part of the ongoing evaluation. In the news release, Mr. Vicente expresses his optimism that a viable business strategy to move the company forward can be found and executed.
What does management intend to do differently than the prior CEO?
That we shall see, following the evaluation.
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It's nice to see the company communicating, at least through IR. I'd really appreciate any light you're willing to shed.
Edited to add:
Before there is some song and dance about more time, I suppose I should also let you know that I am assuming that Joe is intimately familiar with the company he's been managing for many years. As a result, I also assume that he took the CEO position with a concrete plan in place to implement.
If I'm wrong in either, I suppose I also need to ask why in the world not?
Yes, Joe is very familiar with this company. Again, in the May 21 news release, he said his plan is to evaluate, to ensure a sound financial platform for the company, and to outline a platform to grow the company in a stable manner.
