When Meyers came back to the company he said it was the last peak season they would not be a major player in PSL. He got all kinds of options if the stock ever got up to $16 / share. Employees must love this news. Why haven't they been able to land a big bank partner after 4 years. They have the same inner circle of yes men and women who enable Dan to pad his inflated salary, get more and more private jet perks, as they do the same things, which are not producing results. Every time they bring in someone new to provide a fresh look, that individual is gone within a year as they realize the dysfunction. Gelber as President and making $700K is a joke. He has never done anything except order Meyers' lunch. This company is broken. Go back and listen to the CC - nothing at all to inspire anyone, prospective partners or investors. Game over!
Reverse splits are NEVER good news. FMD is well on its was to a pre-split price of half a buck. Post-split, sub $5 stocks are shunned. With a long legal battle keeping things gloomy, the company has lost all leverage in bargaining with potential partners. It's all about organic growth now as they bleed cash quarter after quarter. The only buyout you might see here is management taking the company private just prior to doing a securitization.
No one with any experience in this sector will go work for Meyers as the place is very dysfunctional, and yes, no one ever lasts more than a year. The Cology acquisition was a joke- Cology was in the hole for over $9M and Meyers bailed them out. They don't own any assets and are a true tech company without a proprietary software platform, and partners with some untouchable players in the business like some guy named Fabrizio. Once 6 months passed, all of the execs at Cology were terminated by Meyers, who told them that their jobs were safe- NOT.
Stay away from this sinking ship!