Ray Vargosa: You're doing a lot of acquisitions.
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Posted On: 04/16/2019 6:12:24 AM
Ray Vargosa: You're doing a lot of acquisitions. That
requires a lot of manpower and restructuring. Do you have the manpower to
continue to do these acquisitions? How is that being done?
Joseph Moscato: Okay. As I have stated, even when we first took over the company, we announced, our acquisitional strategy as part of the overall plan. The biggest plot of what we do and our model. We have no interest in acquiring
companies where we have to create the wheel.
What we're acquiring first are great management teams or great operators, or
great management teams with great science that can get through the clinic.
Or, great management teams that are commercializing, "Now we'll start
sales." I have no interest.
If a company comes to me…. We have. We've seen hundreds of companies
since we've taken the reins of Generex. Typically, we have no interest in
acquiring a company where the owner is looking for an exit. They want to go
off in the sunset.
We have to figure out how their secret sauce – how they got there. Typically,
let's just look at say, Olaregen. Olaregen has a great management team.
They're knee deep in commercialization folks, marketing folks, and that are
bar none. That can get through commercialization, start sales.
Then, revenues will be evident. Again, for us to go in and replace
management teams, and put in new staff, it's not really what we want to do.
It's not really our model. Though, we've been doing it on a few areas as of
recent.
But, the only place that we typically have bottlenecks is the legal work. We have man law firms that work for our x now. We have two in-house counsels now. We have our outside counsel, who we've always used and that does a great job for us, Eckert Seamans.
That's typically where our biggest bottleneck is, the legal piece. It takes a lot
to get acquisitions done. The documents are mountainous and very
comprehensive. If I had my wish, I would have ten more lawyers working for
the Company.
Other than that, all of the acquisitions have great management teams. All of
the proposed potential acquisitions have great management teams and great
staff. It's really not a problem whatsoever.
requires a lot of manpower and restructuring. Do you have the manpower to
continue to do these acquisitions? How is that being done?
Joseph Moscato: Okay. As I have stated, even when we first took over the company, we announced, our acquisitional strategy as part of the overall plan. The biggest plot of what we do and our model. We have no interest in acquiring
companies where we have to create the wheel.
What we're acquiring first are great management teams or great operators, or
great management teams with great science that can get through the clinic.
Or, great management teams that are commercializing, "Now we'll start
sales." I have no interest.
If a company comes to me…. We have. We've seen hundreds of companies
since we've taken the reins of Generex. Typically, we have no interest in
acquiring a company where the owner is looking for an exit. They want to go
off in the sunset.
We have to figure out how their secret sauce – how they got there. Typically,
let's just look at say, Olaregen. Olaregen has a great management team.
They're knee deep in commercialization folks, marketing folks, and that are
bar none. That can get through commercialization, start sales.
Then, revenues will be evident. Again, for us to go in and replace
management teams, and put in new staff, it's not really what we want to do.
It's not really our model. Though, we've been doing it on a few areas as of
recent.
But, the only place that we typically have bottlenecks is the legal work. We have man law firms that work for our x now. We have two in-house counsels now. We have our outside counsel, who we've always used and that does a great job for us, Eckert Seamans.
That's typically where our biggest bottleneck is, the legal piece. It takes a lot
to get acquisitions done. The documents are mountainous and very
comprehensive. If I had my wish, I would have ten more lawyers working for
the Company.
Other than that, all of the acquisitions have great management teams. All of
the proposed potential acquisitions have great management teams and great
staff. It's really not a problem whatsoever.
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