Kids...
Yeah, Dutchess isn't pretty. But it is better than what we were dealing with, such as La Jolla and the guys before them, and they REALLY took DNAP for a ride. I don't think Richard had much choice. It goes w/out saying he would of done better if he could sell it, which obviously is happening now. There just HAS to be proof of substantial revenues just around the corner to lay on the table to financiers.
Another note. Previous to the R.Gabriel era Frudakis et al did not really know how to handle public relations. They talked too much about everything. After all, Frudakis is a scientist, not a person who regularly dealt with bottom dwellers and people barking for results and answers. But he also had no choice until he had the $$ and the right man. I think Hector helped him find the right guy; Richard.
All three of them make about 200+ K a year. Find an experienced CEO in this realm and try to pay them that much.
When Gabriel came on, the information went from spotty and wishful to just post-factual and bone dry, as it should be IMO. The first thing a responsible CEO does for his shareholders is take off the icing and start from scratch. The angst will dissipate, and real news will speak for itself.
There are too many entities out there who have gorilla bucks and would either like to scrunch DNAG or take their pipeline out of competition, or just take them, period.
Therefore it is of the highest priority to protect all relations and agreements with other companies until the deals are sealed. Also, throw in the tiny share price and control/takeover becomes a concern. Where are those other 500 million shares?
The officers don't have that many.
If you read your post, you will see that you are talking about a typical ground floor company in it's first years.
It has followed the process that I have witnessed a hundred times. And that is why I take exception it has lasted 7 years.
I would really like to see this company make it, and I think they deserve it.
Ciao
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