This was my email to him. I'll post response if he sends one. It's a bit of a read and a bit of a rant.
Alex,
Do you see the title of your press release? Everyone is selling. We had no news for 4 months, this news has only raised more questions and uncertainty.
Points that have been brought up:
- Bad PR Title
- $600k and $500k in expansion funding, where did this money come from?
- Outstanding share count misstated by over 100 million shares. Transfer Agent Confirmed the Outstanding Shares are almost maxed to AS at 997 million.
- You seem to have funding from somewhere, but the only funding shareholders see is the OS increasing and shareholders footing the bill while the price per share slides down even further.
You keep speaking of shareholder value, but the value keeps declining. No one is believing any of these PRs anymore because we have no way to verify them, and with the past of the company they seem unlikely to be true. The company needs to under promise and over deliver, it the company is currently over promising and under delivering and that along with the never ending convertible notes and dilution is why shareholders are losing money. Every single shareholder in the companies history has less money now than when they invested. Not one shareholder has made any money off believing in this company.
It is up to you to show shareholders this company is trustworthy and follows through.
There are questions of mishandled money. The Aegis Pin manufacturing that started this dilution sprint, yet there was no mention of them in the PR. Another item that shareholders had to pay for that is not being sold. The UBRs are in their cases per previous conversations but not being sold. Why is this? Why is the company, our company, not selling products that we have spent a lot of money to make?
Another good question was that part of the $35 million in technology purchases includes $10 million for water purification systems, that is the largest investment the company has made, get there is no traces of the company doing anything with that purchase.
Why is management spending out of control on products that either don't exist. Or have been manufactured but the company won't sell.
Something has to give, shareholders cannot just be a piggy bank for the companies endeavours, shareholders are walking up that not much of any of this makes sense outside of Hygieia, which is a simple idea.
I believe that shareholders deserve clarification. The authorized is going to have to be increased for a 4th time in less than a year to continue funding the companies projects. That is not how you build confidence in the shareholders, is this a uplist worthy stock or not?
My big question is this, was the $2 million share buyback a farce? Because if the company has $2 million in free capital (not reported on financial statements) than surely the company could have paid its Next Cast debt and been more friendly to common shareholders. Surely the company could have lowered the share structure instead of increasing it each quarter. Surely some of that money could have been used to expand Hygieia. If the company invested all the money wasted on tech purchases and not for sale items on Hygieia instead, I'm positive this would be a much more profitable company.
I believe management needs to look into cash bleed, and stop relying on the normal people who thought your company was interesting, i.e. common shareholders, to pay for all of this. Your shareholders aren't millionaires, they are normal folks, with normal jobs and normal families to support, hoping that this company wasn't like every other pink sheet, after all, that's what you claimed this company to be. A big board company who happens to trade on the pink sheets, but will uplist soon because of your companies code of ethics and support for adding value to shareholders.
You had a very loyal and trusting shareholder base who was long on this stock. You have created a shareholder base who no longer trusts the company to be in favor of shareholder interest over self serving interest, who will use shareholders and then ignore them when done. You have removed the longs (who you claimed to want to provide value for) and in turn rewarded the flippers (who you said you don't like) the increase in liquidity you speak of means nothing. What good is increased liquidity if the price never goes anywhere but down, as a common shareholder, you still can't sell because you are trapped. And this is what the company has created.
How do you plan to fix it, and will you stop being so cryptic and withholding in your information?
You also have claimed to be bidding for work using SAMS. I have searched that website for a year now periodically, and I have never seen Umbra listed on it. What happened to that?
It would be nice if the company reviewed all the claims they've laid out there, from wind farms, blood bags, SAMS bidding, buybacks, dividends, UBRs, Drones, Oil and Gas, Water treatment, Creating shareholder value, etc... and address what went wrong and how the company is going to fix it. If you don't create some sort of trust between shareholders and this company, you will (continue) to have a flippers stock, you will not have long shareholders who want to see you succeed, and ultimately you will continue to lose the interest of the market.
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