Exactly. I am mad about the share structure and evasiveness of that issue. I think, however, they got caught with their pants down on the publicity which brought these facts out faster than they thought they would. The mere time table of it all made them look like even bigger liars than they probably are. Most startups do the very same things and spread out the news of share increases to make it more palatable. This one got a PR burst which amplified everything. Unless they are complete morons, they understand all the issues now. They just hired a guy who should understand everything that has happened and will happen, and he took the job knowing everything and more than we do. They have shown that they are pushing the animal thing faster than anything, and that speaks well for their marketing at least. The head guy obviously is an idea fellow and a good salesman, or he would not have swung the deals and alliances so far. On the fiscal side, he gets a big fat D at best. The new CFO, IMO, will quickly take control in that area and fix things. Focus, execution are next. If they do things right, the financial potential is gigantic! This share thing can be overcome and much more quickly than most imagine. They also, because of the alliances in hand and those probably coming, and the very nature of their business, will be in the public spotlight over and over and over. This should have a one thing feeding and building effect that continues on and on. I don't know why, because surely lots of ideas seem good, but this one already has a market that is in place and the dollars are already being spent. It's just a question of how many can be captured. And the pet thing is new, innovative, appealing, and will be a welcome and "feel good" thing for millions of people each year. Vatican -- how many devout Catholics die every year? Sports themes -- new and untested, but in today's media and sports driven world, who knows the impact of each new alliance? Precious Moments and others to come -- as heart breaking as it is, how many children die each year?
I believe the animal sales could sustain and skyrocket quickly. The new CFO should be smart enough to use the funds they have to ramp up and then let sales take over. If actual orders just blast them out of the ballpark, he should do everything possible to secure loans or whatever to end any further dilution since with real orders, they know it will be a quick payback and the bad investor relations of any further dilution, I'm sure he does not want to deal with that.
In short, I'm counting on those running the show now to understand their business, the market, and the public aspects enough to turn what I believe is one of the best marketing ideas ever into huge financial numbers for themselves and shareholders as well. The short-sided nature of early venture lenders to quickly flip on a first burst of publicity will, IMO, turn out to be a break for regular shareholders like us.
This is what I hope anyway and am banking on. It is painful to be down on something that should never have been down, but if it had not happened this way, I, for one, would never have bought this many shares of something so tiny by averaging down. I would have been better off initially, for sure, but with new, knowledgeable people on the financial side, it just might turn into a blessing in disguise for us.
I remain,
SOROS
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