The decrease in losses and first profitable quarter (4th, 2008, which was Jan 1 - March 31, 2008) came before Jacobson was hired (May 2008). Remember, the 2008 fiscal year for Cyanotech starts in April 2007) Conditions were deteriorating in 2006 but were reversed by a couple key decisions in their business model before Jacobson. First, they hired Mark Ketchel at Director of Sales in May 2007 and he boosted Bioastin sales as a human supplement. Second, they abandoned the NaturRose (astaxanthin) as a a fish feed additive that would make the flesh of aquaculture salmon turn pink/orange. NaturRose, although natural, couldn't compete with the cheaper petroleum-based chemical synthesis (which is not natural) that the fish and shrimp farmers were buying. Now if you believe Jacobson is the great white hope and all will collapse without him, then sell your stock.
Regarding the Tsunami effect, fortunately it was small for the people of Hilo. In Kona, on the opposite side of the Island, Cyanotech's ponds are well above the geographical inundation zones. The Tsuanami hit on the windward coast facing Chile. Kona is in the leeward side. Any big Tsunami from Chile would still have a wrap around effect, but diminished. The big concern for Kona is a local earthquake near the volcano.
Why don't you go back to 1995 when this stock must have been jiggled to over 50 bucks a share and then down to pennies and a 1 for 4 reverse split. The same top guys are around. Jacobson was not the great white hope but certainly he gets some kudos for what's been going on. Don't know the cfo but many companies move their cfo to ceo. Funny that with all of his experience he can't take over a company with around $14 million in sales.
Although Bista did not put it very diplomatically, he is basically correct, this entire turnaround appears to have been part and parcel the work of the outgoing CEO. At the time of his appointment the company had been floundering for years. I was, frankly, surprised at how quickly the turnaround was effectuated. I guess this news gives me some pause despite having just posted in another thread that material financial irregularities would have to have been reported in this morning's press release.
Perhaps it had something to do with the Tsunami threat that did not, thankfully, have any impact.