Time for management to resign. Bunch of inexperienced clowns who do not have any idea how to run a public company. The complete disregard for the shareholders with the mismanagement of the share structure, the total and complete lack of communication, the inability to raise any equity capital in 3 years. The sector and the idea is there. These are not the people to run it. - And to answer all the cheerleaders and people who know nothing of capital markets. This isnt me saying this. Its the market. The market has said Nope! to providing any equity financing. The market says nope when the company has a zero communications policy with the financial media, the investment community or the shareholder. The management have ZERO experience running public companies. They are treating the deal like its their "own" private company. This deal will end with lawsuits and share battles and the pathetic management team scrambling to stay in power. I have heard from IB's in NY and SF that the company was offered 20 Million in equity financing if the CEO/COO/CFO were all fired and replaced with professionals. Management was offered board seats and to retain their shares. Of course they refused and then the next day took on another toxic high interest dilutive pasting the cracks convertible note for a couple of hundred grand. Its quite sad really. Too stupid to know theyre stupid. Its like Donald Trump is running the deal. Since NY and SF want nothing to do with the incompetents running the deal maybe they could find a corrupt russian oligarch who tells them everything they want to hear. The other feedback from the bankers who made the offer to the company earlier this year was that the management does not take notes well. Big red flag. Here are three bankers who have over 50 years experience in capital markets having built dozens and dozens of deals while raising over a billion dollars and theyve got this clown who has never done a deal before pushing back on the most obvious points imaginable. Word has got out in the IB community. CEO doesnt know what he is doing. Is not a leader and as long as he is there the deal will never get funded. Sad. so much potential but screwed by ego. Typical story when you think about it .
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