I had some serious concerns about the latest 10Q. I was informed that I do not know anything about GAAP accounting.
I sold a portion of my shares in the .40s and planned on holding the balance to see the future of this company.
However, when the CEO tells me about the Generally Accepted Accounting Principles, something I learned in college and passed my CPA exams and actually work in the field for 2 decades, I have decided to dispose of my shares.
It was very poor and defensive on behalf of the company. As a shareholder (at that contemporary point in time), I wanted truth. What I received was defensive responses and that I do not know what I am talking about.
What I do know is how to comply with Section 12 and 15 of the Securities Exchange Act of 1934, and was not impressed with the skirting of the issues.
This causes investors to jump ship. The CEO should learn diplomacy with shareholders in order to keep them.