I lost a lot of $$ on this, though I clawed some of it back by trading on my way out. I really thought back in Jan 2010 that they were on a roll, with Walmart Canada and with Lancaster adding US hardware stores almost daily. But then Lancaster fizzled, Walmart dropped them, and the TV spots didn't work.
His newfound willingness to go after commercial/government $$ is a big step in the right direction. I was begging him to push in that direction, but he always seemed focused on the grass-roots, word-of-mouth consumer approach. The problem with that is repeat business -- my family is still working on Winning Colours that we bought two years ago. We only use it for bad stains... (still works great)
So, now momentum has been regained, CEO is pursuing commercial/government, and Walmart Canada is back in the picture. This company WILL be a success. But quarter after quarter of flat revenues and operating losses have left the stock in the dumps. And issuing shares down at these prices is ruinous to existing shareholders.
Not all of this is Eric's fault. But he sure seems to have insulated himself financially. Gotta perform if you're going to draw his salary in a start-up.
Wadi
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