After Glenn took over as CEO, mide advised that we give him two years before we passed judgment on his performance. A while back I saw an interview with former Medtronic CEO Bill George who advised that a new CEO should be given three years before one begins evaluating his/her performance.
Well, it's been three years now since Glenn took over as CEO. I know you've said, Indy, that you admire the guy, but I do not share your view. After three years, he's had my shares diluted practically into the ground and acquired a company (GTC) which is going nowhere. But my biggest beef is that he wasted three years developing a product (Argus) that there isn't even a market for -- and that's according to you and WildWest. So am I missing something here? Is developing a product for a market that doesn't even exist a radical thing they teach at Harvard Business School? Because at the school I attended, such radical thinking would have gotten you an 'F'. And what's really baffling is he continues to insist that the company expects a sale this year. And get this, he expected one last year as well! LOL!!! If this doesn't qualify somebody to be referred to as an 'idiot', I don't know what does. Plain and simply, he has mislead shareholders. He is not a stand up guy IMO. Whatever he says cannot be trusted.
You said in your post that "You may not get the whole truth from me (not for lack of desire) but you will never get intentional deception." FWIW, unlike Glenn, I believe you. You really are a stand up guy IMO. You don't seem to sugarcoat things. You tell it like it is (at least as far you can without violating your NDA). I remember when you first came on the scene about a year ago, I thought, who is this crazy new guy who likes to post a lot? But I soon learned that you were a non-crazy guy who likes to post a lot. As a shareholder, I'm glad to have you on board.
You also said in your post: "But you've been on the journey a long time. I am fresh meat." I think you nailed it on the head with the word "fresh". I'm no longer fresh or excited about what this company has accomplished or realistically will accomplish in the near term. That's why I was so disheartened by your post yesterday or the day before. I don't know if I can stomach another year or two of potential or mediocrity. There seems to be no light at the end of the tunnel. Like rattlewatch, I don't think a dribble or drip in contracts is going to get anyone excited (well, maybe WildWest will be excited). Most of us long-term shareholders will simply yawn and watch our investments continue to stagnate or decline in value.
My board name, Madmonks (which is also my softball team's name), seems appropriate for this stock. It originates from that mad Russian monk known as Rasputin. Like this company, Rasputin was very hard to kill. He was poisoned multiple times, shot multiple times, clubbed multiple times and then drowned before he finally died. This company has had multiple names, multiple CEOs, multiple lawsuits, and yet will not die.
Maybe we should try drowning it in shareholders' tears.
