As a doctor and researcher, you have to give Dr. Gulfo an outstanding evaluation. Unfortunately for us longs, as a businessman, you have to grade him out as a D minus. He has had a blind spot that has plagued us since the Melafind device was approved by the FDA. At the time of approval and immediately thereafter the company should have done a series of in depth cash flow analyses projecting out possible scenarios. Most, if not all, of these projections would have shown a substantial need for equity should he decide to do a 1 year slow rollout. It is obvious to me that such comprehensive analyses were not performed by the very fact that it took him 5 months to finally get the rollout commenced and a 1 year duration for the rollout was way to long. Had he had comprehensive cash flow analyses available at the time of approval, he could have and should have pounced on an equity offering immediately when the pps was north of $6.00. As longs we have now payed a very, very dear price for both the recent equity infusion and vulture capital financing we recently announced. Yes, we needed this cash, but we should have gotten it months and months ago when the price we would have paid would have been more digestable. Let us hope, that given this recent infusion, Dr. Gulfo finally begins to put the peddle to the metal as he has promised.
Agree Endo 100% on the financing, can't figure out why he didn't do more float when the pps was up around $6.
FIve month delay on the start of commercialization also a mystery but I'm still thinking that may have been planned to end the first year commercialization with the Derm winter meetings since he wasn't set up with inventory for last years winter meetings.
As longs we have now payed a very, very dear price
All endo does is piggy back on Fncy's posts and gets kudos from his fellow longs as having a great insight and analysis. Hey Endo-------It's called plagerism!
Endo, I agree on how he was not prepared, and frankly, was surprised given his tenacity with the FDA. But that's the past. Today, he knows he must push that rock up the mountain, and if the focus on marketing is as crystal clear as his knowledge of what he has, he'll be OK. And so will we. Regards Sam
With all due respect, for you to write in response to my posting that it's all in the past is simply not true. You write about dr. Gulfo pushing the rock up the hill. What you fail to acknowledge is that his past actions have made that rock bigger then it had to be. Had he allowed projected cash flows to guide actions subsequent to FDA approval, we would not have needed vulture capital financing. That financing carries a coupon rate of 10%. So if he takes down the entire $10 million, the annual interest payment will be $1,000,000. That amount equates to the gross revenue the company receives for selling TWENTY THOUSAND CARDS. That's what I mean when I write he made the rock bigger then it had to be. Now Sam, think about how many system placements we're going to have to do to pay back the principal on the loan. Please cease attempting to always attach silver linings to my postings. I am a long who's simply trying to be realistic.
Endo, I agree on how he was not prepared, and frankly, was surprised given his tenacity with the FDA. But that's the past. -sam
Every long on this board keeps talking about how "brilliant" Gulfo is and how they are glad that he is running the company. This is nothing more than "Employee Mentality 101.
Just because a researcher is somewhat good at what he does, do you guys actually believes that this equates to him being a savvy and successful businessman? Absolutely not. In fact, there is a commercial currently airing on television which speaks to this very stupid mindset.
In the commercial, a guy comes home from work to see that his wife has hired a plumber to repair the kitchen drain. He looks at the plumber and thinks that he knows the guy. The plumber says to the guy; "I am Bill....... I prepared your tax returns last year." The guy says but.... why are you fixing my sink? "Because today, I am a Master Plumber."
This is exactly what is going on at Mela. You have a researcher who is somewhat good at being a researcher but, he obviously knows nothing about running and promoting a business entity. This is a deadly mistake and mela longs are going to have to pay the price.
As endo observed, how in the world did this clown not see something a basic and immediate as cash flow and expenditure not decending on him? My only conclusion is that he earns his fat paycheck every week (courtesy of mela longs), and currently has plenty of mela bucks with which to support his private lifestyle. If he is not forced to budget his personal finances, why should he worry about mela? Gulfo obviously has no concept of money management nor how to promote and run a new business. Mela is in deep trouble.