Thanks for information.
I would like to see management consider steady growth, and as stated earlier this week, believe they could have prevented this erosion of PPS with proper planning and allocation of scarce resources.
Moreover, I also do not believe steady or rapid growth would have been impossible based on the statements contained in MCLN’s PR. If you are going to book 1-2 million in revenue from at least two new relationships mentioned by MCLN in 2010, then the absence of revenue in 1st qtr. is disconcerting and sets the stage of a wild, wild west show for the rest of the year. Nevertheless, an obligation is owed to shareholders by MCLN to correct the misjudgment of not concentrating sufficient resources to close system contracts in 1st qtr. by issuing new PR’s. Dependence on others to market your product does not always yield the desired results and I hope MCLN appreciates that fact of life.
As to the statement of losing my ‘rear end’, that would be 100% correct, but I do read the financial statements and make decisions. I also accept full responsibility for my decisions and errors. However, if management has mislead (intentional or otherwise) or made a dumb mistake, then my responsibility meter falls from 100%. You know – shame, shame on me if I kept listening to the wrong CEO drummer. Maybe MCLN was aware of my concerns as stated and I just did not have their inside facts. Could be? But, I still have a problem with the statement ‘excuses’ contained in the PR when compared against the 1st qtr. results. Those results have been 90 days in the making.
Time will tell and yes I’m not running. I also realize the down drop could have made things a lot worst than they are, which in turns suggest that no one is interested in selling at this price.
Again, thanks!
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