What a strange fund Renn Capital is! Who is this Russell Cleveland? If anyone besides him owns his #$%$ funds exactly WHY? And WHY would he buy even more Bovie? Something stinks so bad about this whole weird situation.
Since January of 2010 we've seen Bovie Med drop from a high of ten dollars to the 2's and 3's. Prior to that they were in the 8 dollar range for years. These price DISASTERS came in spite of what should have been exciting new products.
How is it that a management could consistently produce conservative, careful profitability and then become complete screw ups? How is it that they would fail to mention (SHOUT) that J-plasma can treat MRSA--at a time when antibiotics appear to be tapping out and all of humanity must look for alternatives? I continue to think there must be some other explanation than incompetence. Just doesn't make sense.
I also now realize that the stock market is the greatest ripoff ever invented besides central banking. It's whole purpose is to steal money from the "small people". Even the "people" that are supposed to be protecting shareholder value, the C-team, are in it completely for themselves. A den of vipers and crooks. Makrides, Sauron, Citronowicz, Aneralla, etc.
which means that management has assured their own fortunes no matter what at the expense of you and me. Which means we are the marks, the chumps, the--uh--99%
Bike is outraged because this situation is outrageous. I don't think this level of misfeasance and malfeasance can be explained by incompetence, however. The management just couldn't be this bad.
Speaking of djhmk2 he seems to have disappeared. Not long ago every post on the front page was his, but now he hasn't one! Makes you wonder if he isn't working for the institutions.
I don't know Bike. Kevin Blackman may be man enough to admit he's wrong, but there's something sad, even pathetic in the way he posts enthusiastically about each new Bovie patent and is all chummy with management when the value of his stock holdings (which at one time were his entire net worth) are plummeting to a fraction of their former value. It's kind of strange and weird.
Bike, I like the idea of "telling management to get off their incompetent asses", but there really isn't a way to do that short of voting them out. You can tell Investor Relations, but not only is Aneralla unsympathetic, but he really can't do much about anything. Do you have any ideas? If only we could find out what Russell Cleveland is telling his own investors...
I don't see how it can help the cause to complain without having a very credible reason. Exactly what law do you feel has been broken?
IR said the decision to hedge, build a mine, or sell the company would be made within days or weeks of obtaining majority ownership of Project 1. It's obviously not days--so weeks then. That is the month of May.
Dragan, good insightful post. I agree with you about the new guy on the block. It's partly what he says, how he chooses to say it, and how often he says it that informs my gut about him: he has a mission, which appears to be to create fear, uncertainty and doubt.
I don't know why though, but I'll take it as a good sign.