Xeroe,
What I know and have stated recently is that we know Helio was generating some business of its own - but what we found out by the first financial filings that came out in 2021 (after acquisition) - is that it wasn't very much revenue after 3 years in their business - and did not make a meaningful gross profit and no net profit for the combined business - not even close. Was there even a net profit without CYIO being included ???
You stated: "You also would know that not every opportunity initially explored pans out… and must be abandoned in favor of those that do “have legs”."
Absolutely true Xeroe. My point has been for some time - our execution has not shown we understand "what needs to be done" that is critical in a public company.
In summer of 2020 I specifically tested my theory on a short term basis so that it would show very quickly if the short comings I saw 0 were actually short comings that could be corrected and would not require any mis-truths or "poor-form" efforts. Using my ideas It created some remarkable initial responses - just as I expected - and just as any good sharp small business effort might have considered doing.
Additionally - CYIO had an exceptional opportunity to demonstrate something additionally that investors would really favor - a public stock "rescue". But they never even remotely pursued that option either.
Small businesses that struggle unnecessarily, painfully, or terminally - all suffer from a lack of vision and awareness of the details that are important. The smart ones find people to assist in those areas - the not smart ones - plod ahead on their own - either hiding their failures or trying to "sell" a story instead of "proving a story".
When you are a new or struggling business - you don't have the luxury of time and expectation - and as a result - you rampp up the speed and commitment to details because survival is crucial.
CYIO even had the benefit of unexpected pricing momentum and initial public investor interest which if properly conserved, fed, and handled could have They could have "stashed" some of that time they needed and saved a part of that momentum and a wider better audience to keep for another day. Lets just say by an example - too often a "rich kid" expects everything to go well for themselves because they are a "rich kid"
None of that happened - and that is why we've seen nothing but a steady decline IMO. There were soooooo many things that should have been done differently to better secure the business and also buy them time they hadn't saved up.
I won't make a list of many things not done well - I neighter have the time or desire. Some of them still could be done - but the clock is ticking and the risk levels are rising at the exact same time. The smaller the business - the faster you need to walk or run - double time, triple time etc.. to catch up and pass the "demise clock".
I think Xeroe - that you may be able to understand this post - I wouldn't even try to write it to Hulk.
JMHO
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