Hey Profit,
Not trying to pile on here at all and you know I have great respect for you...especially since you're one of the few here still fending off the critics, but I do have to disagree with a couple of things.
One is that in a previous post where you commented on Sam not defending the company about the false Scotland job adverts where you stated:
"IMO he had nothing to do with starting it and I dont see where he should spend money putting out a Pr saying he didnt do it."
I have to completely disagree with you here. If it were message board or other media rumors, then I would agree with you as many CEO's state that they don't comment on rumors. However, this was a blatant misrepresentation and scam perpetrated on a company owned by others (you and me) for which Sam has a fiduciary responsibility to "protect and serve", to use a cliche. Whether he intends on addressing this issue at a later time, only he knows, but I think he also owes it to new or prospective shareholders who encounter these false claims to set the record straight. IMO, passivity in the face of wrongdoing is a form of unacknowledged acceptance of the situation. I guarantee if SPRL were a non-pink, fully-reporting company, this wouldn't fly at all or be tolerated. However, for the time being I will give Sam the benefit of the doubt in case he intends to correct the situation in the near term.
And if money is an issue as far as PRing it is concerned (I don't believe issuing a self-written PR is cost-prohibitive), there are other inexpensive or free methods to disseminate the information...at least to the audience that has made him aware of the situation.
The other statement I would disagree with you on is the notion that speaking to Sam recently provides any clearer picture of the situation at hand. I know several who've spoken to Sam over the last 3 years where he's promised PRs, filings, audited financials, other developments, etc. "soon" which have simply never come to pass. I do have an inkling of what has or may have happened behind the scenes in some of these scenarios; however, I personally cannot take Sam's word when it comes to expectations or timelines and I know I'm far from alone on this opinion.
And I have one final comment not directed at you at all... Constructively criticizing the company, its officers or their decisions, actions or inactions does not make one a basher. I can support the company when warranted (and my posts and sharing of due diligence testify to that) and I will criticize them as well. What is so wrong about identifying both the dirty and the clean laundry so that people have a clearer picture of what is going on?
Some may argue (as I've argued with others on other stocks) that if one is unhappy with their investment, then they should just sell and move on. That is something I've done in almost every investment that didn't turn out the way I expected provided it made fiscal sense to do so. The thing here is that I'm probably down a lot more than most (not as much as some others), and have averaged down to a somewhat reachable level considering that I was buying substantially near the all-time highs. And I do trade around the position on occasion, but kick myself for not taking small profits in the last false runup. Selling entirely at this pittance would be foolish except if I could offset those losses with capital gains elsewhere. So I believe there will be many long-time shareholders, like myself, who will be around for the duration to applaud and criticize the company with the ebb and flow of this proverbial sludge pit.
Regards,
Rick
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