Good question. My answer is that I'm not sure. I originally thought that he helped to develop the Magnatek manufacturing process with Snaper. As it turns out, he was uninvolved. I also thought he helped to procure the 3 Magnatek units in RI. Wrong again. The Magnateks have been apparently sitting there for a while, 2 remaining dormant. Prentice, for unclear reasons, is unwilling to either move the machines or at least initiate some production level. He certainly has done nothing to increase shareholder value on his watch. In fact, it's just the opposite given the lack of company communication or business model development. He also (according to LT) refused to sign the 10K and subsequently blocked the filing. Again, unclear rationale but certainly unsettling to most of us here. IMO, we're destined for a Well's notice with this guy at the helm! He needs to go!
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.