I agree with you completely, Scope. But therein lies the problem. As I’m sure I’ve written multiple times, I’m fine with waiting. I’m fine with a challenging road to commercialization. I’m fine with market skepticism over reliability etc.
What I am not fine with is incomplete, intentionally opaque, or misleading communications from management. That’s where my anger comes from. We’re a publicly traded company now. The CEO and the board owes a duty of candor to its owners (i.e. us). If they wanted to keep their commercial challenges a secret they should have stayed a private company. You can’t act like a private company yet at the same time enjoy the benefits (capital) of being public.
It is abundantly clear to me that management has tried to straddle this fence for as long as I’ve been a shareholder (17 years). I am not ok with that. This exemplifies precisely why we need a different CEO. Lebby is a visionary scientist, not a manager, and it shows. (A competent CEO, for example, imo, would have replaced Marcelli ages ago.)
But here we are. I believe the potential maybe great. But changes on the management side need to happen. In the meantime, we as shareholders are owed a duty of candor so that we can assess our current and continued risk accurately. That requires a clear and unvarnished assessment of the status and trajectory of our commercialization efforts. No more carrot-dangling of mystery upcoming deals that don’t materialize.
I can wait for the day LWLG makes it big. In the meantime, Management must accept that it has a responsibility to shareholders that it is not fulfilling, and change.
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