OUCH !!! Gary Rabin blames shareholders for stock value decline. How's that?
Gary's comments on the ACTC blog about not doing the reverse split to uplist on NASDAQ. " While listing on such an Exchange remains a high priority, we believe the focus by our shareholders on a reverse split has contributed to a sharp decline in the price of our stock, despite the significant progress we have made in our clinical programs."
WHAT? All we've done is sit and wait and wait and wait and wait. What the hell does our focus on the reverse split have to do with the dismal stock price? What was the excuse they used BEFORE the reverse stock split was ever brought up? Come on Gary, that's a stretch and sounds like you are ducking responsibility. Shareholders deserve a pat on the back for hanging in there despite the companies inability to improve pps.
Nj, good catch! I can't argue with you on this one, because it sounds like he's playing the blame game, which is a distrubing thing for the CEO and leader of the company to do.
I wonder if has anything to do with Bio Time(BTX) and its president Dr. West who was once the president and chief science officer at ACTC, because if Bio Time buy's ACT, Gary's gone.
And I thought the lucheon that Gary sponsored in West Palm Beach last month, was an extravagant waste of money and time.
Keep, that's an interesting theory. Gary of all people would know the secret inner circle activities as well as the whispers. His statement on the ACTC website today ended immediately after the bashing of the shareholders, it was rather abrupt. Maybe it's a huge vat of soon to be dismissed sour grapes? Time will tell. But I'd like to thank Gary for his total lack of praise for us shareholder whipping boys, go ahead Gary, kick us when we're down, WAY DOWN from our original investment-------............OUCH !!!!!
The more I think about that statement by Gary, the more peeeeee OOOOOOOOOO'd I'm becoming. Many of us have tried against all odds to find a reason, an "instinct" to believe in this company. Naturally our praise is going to ebb and flow depending on the pps. To bash US, of all people, is really #$%$. Is he sending us a signal to get out now, figuring an insult will kill the only thread of hope any of us had left? What does he know? Or was he just lashing out, projecting his anger at himself onto us for not being able to get the stock price up. Either way, it was an unprofessional response from a supposed professional. Was he bashing the shareholders while dining on our shareholder provided Lobster a few weeks ago?
The reality is all the non political chatter has been about the reverse split and not buying (more) till after the split. Not sure how he thought the price was going to go up anyway, but it didn’t and now it’s off the table. In July when we are at .30 he can make that decision and hopefully he won’t.