Hi everyone,
here is my take on the current situation (I had written such a message once already last night on my cell phone, but when I wanted to hit the "create" button, the screen froze. Frustrating!).
I see at least a 2 pronged issue about GNBT as the reason why the PPS is where it currently is.
1) I do not know what I want to call it, whether it is a streak of misfortunes or a conspriacy against GNBT, but at least a series of terrible things happened in the last couple of months to the GNBT shares. It all startred even a lot earlier, when the PPS got auto-adjusted, after the 20:1, where it was NOT supposed to happen, because it was a dividend not a split. Then GNBT retired the ~21m "pool" shares, and the pps got NOT auto-adjusted, where it actually WAS supposed to happen. Then CMF started illegally selling their (supposedly) restricted shares, and once this got publicly announced and we all thought (or at least I did) "thank god, there is our reason, now things get better", the selling continued and we learned that the previous Veneto owners as well sold their shares "illegally".
(Side note: What I am asking myself in this is, when I receive GNBT dividend shares into my account, my online broker "restricts" them from trading, until they are physically delivered to them and they are able to distribute them to my account. They are currently in my account, and I am not able to do anything with them. Why, the heck, was it actually practically possible for the CMF or the previous Veneto owners to sell these shares? Why couldn't these shares just be put into some escrow account, such that it is clear that they belong to them, but would only be made available to them, after the restriction is lifted as agreed?? It is like putting a bowl of sweets on a table and telling a child "do not touch it, until I officially give you permission!" LOL)
1 (continued) so both these wrong auto-adjustments, as well as the "illegal selling" that happened, terribly hurt GNBT and in particularly its share price. Was this really just a streak of bad luck, or are there actually a group of people conspiring against GNBT? In my view, I cannot believe that all this is just a terrible coincidence. But on the other hand, why would anybody be interested to severely harm GNBT with the risk that it might never fully recover from this? Is there someone out there, who really wants to see GNBT "dead"?
2) In addition to all that, I have - some 10 days ago or so - written a longer message about how much I think the company's IR needs to receive a total makeover. At least I cannot remember a single PR, which immediately answered all of our questions, made promises that were fulfilled IN TIME, as stated etc.
What I think is necessary to restart that engine and get GNBT back to where it was, is to make a clean cut and GNBT shows us THE transparency that JoeM keeps bragging about that GNBT has "like almost no other company out there". So far, in my view, this is not so much the case!
We need some sort of a public summary of the current situation, which answers all of the open questions, followed by a vision statement, which tells all of us what GNBT has in store to happen next week, next month and in 6 months. Such that we can stop guessing, and that is all that I read on here, recently (has the AltuCell deal now been closed, or not? What is happening once the S1 is approved? Will JoeM give away at least half of the company to get his hands on the $40m "investment instrument"? Did CMF/Veneto actually sell illegally, what will now happen to them, and how are they going to compensate the company/shareholders for its losses? etc, etc, pp.) and those negative posters on YMB will be silenced.
Following this summary&vision statement, we then need to receive PRs with clear and structured statements that include all the important facts of the announcement, including reliable time lines. With all these failed predicitions, I am actually questioning whether JoeM is being the same careless when working out legal stuff, or is it only in the communication to us? Maybe there are loop holes for the CMF and Veneto holders in regards to the so called (??) "restricted shares"!? When I read all those "sloppy" written PRs, I could get to this comclusion.
In order to close this message on a more positive note, I still think that GNBT has a lot of potential (or otherwise I wouldn't still be holding a six figure number of shares, which is currently the most significant holding in my brokerage account!), but I definitely think that GNBT's management team still has a lot to learn as well about how to run this company and how to properly communicate with its shareholders. When I listend to JoeM during those CCs (or the most recent interview) I still have faith that he will be able to do this, but he should definitely NOT think that all is good and he can continue the way he and his IR manager is doing this right now!
As next steps, I am hoping to receive an announcement ...
1) on the final dividend dates (hopefully very soon, sometime next week!?).
2) on the NGIO spin out details
3) on the approval of the S1, which in itself will be an official statement by the SEC that GNBT is a legitimate company, and thus help silence negative posters on YMB, because from then on it is clear that GNBT is NOT a "fraud, pump and dump, smoke and mirrors, or empty shell" as I read there all the time.
4) a clear statement once the S1 is approved, that JoeM still has the best interest of us shareholders in mind, and is not giving away more than half of the company to raise the $40m funding. But a very clear statement as to what his intentions related to the $40m "equity investment instrument" is.
5) on the current status of the investigation against CMF and Veneto "illegal selling". Whether it really was illegal and what exactly the company is going to do to right the wrong doings of these individuals and how GNBT AND we shareholders will be compensated for our losses!!
What we really need is a THICK RED LINE that guides us through all the ideas and visions that Joe has for this company, such that we are able to gain back the full trust in this company! I absolutely think that this is one of the most crucial matters that GNBT has to start working on. And it surely does not help when JoeM continues to show up on here or the YMB and makes fun of or even worse insults posters. All this should not come by accident or chance, but following a clear IR strategy!
here is my take on the current situation (I had written such a message once already last night on my cell phone, but when I wanted to hit the "create" button, the screen froze. Frustrating!).
I see at least a 2 pronged issue about GNBT as the reason why the PPS is where it currently is.
1) I do not know what I want to call it, whether it is a streak of misfortunes or a conspriacy against GNBT, but at least a series of terrible things happened in the last couple of months to the GNBT shares. It all startred even a lot earlier, when the PPS got auto-adjusted, after the 20:1, where it was NOT supposed to happen, because it was a dividend not a split. Then GNBT retired the ~21m "pool" shares, and the pps got NOT auto-adjusted, where it actually WAS supposed to happen. Then CMF started illegally selling their (supposedly) restricted shares, and once this got publicly announced and we all thought (or at least I did) "thank god, there is our reason, now things get better", the selling continued and we learned that the previous Veneto owners as well sold their shares "illegally".
(Side note: What I am asking myself in this is, when I receive GNBT dividend shares into my account, my online broker "restricts" them from trading, until they are physically delivered to them and they are able to distribute them to my account. They are currently in my account, and I am not able to do anything with them. Why, the heck, was it actually practically possible for the CMF or the previous Veneto owners to sell these shares? Why couldn't these shares just be put into some escrow account, such that it is clear that they belong to them, but would only be made available to them, after the restriction is lifted as agreed?? It is like putting a bowl of sweets on a table and telling a child "do not touch it, until I officially give you permission!" LOL)
1 (continued) so both these wrong auto-adjustments, as well as the "illegal selling" that happened, terribly hurt GNBT and in particularly its share price. Was this really just a streak of bad luck, or are there actually a group of people conspiring against GNBT? In my view, I cannot believe that all this is just a terrible coincidence. But on the other hand, why would anybody be interested to severely harm GNBT with the risk that it might never fully recover from this? Is there someone out there, who really wants to see GNBT "dead"?
2) In addition to all that, I have - some 10 days ago or so - written a longer message about how much I think the company's IR needs to receive a total makeover. At least I cannot remember a single PR, which immediately answered all of our questions, made promises that were fulfilled IN TIME, as stated etc.
What I think is necessary to restart that engine and get GNBT back to where it was, is to make a clean cut and GNBT shows us THE transparency that JoeM keeps bragging about that GNBT has "like almost no other company out there". So far, in my view, this is not so much the case!
We need some sort of a public summary of the current situation, which answers all of the open questions, followed by a vision statement, which tells all of us what GNBT has in store to happen next week, next month and in 6 months. Such that we can stop guessing, and that is all that I read on here, recently (has the AltuCell deal now been closed, or not? What is happening once the S1 is approved? Will JoeM give away at least half of the company to get his hands on the $40m "investment instrument"? Did CMF/Veneto actually sell illegally, what will now happen to them, and how are they going to compensate the company/shareholders for its losses? etc, etc, pp.) and those negative posters on YMB will be silenced.
Following this summary&vision statement, we then need to receive PRs with clear and structured statements that include all the important facts of the announcement, including reliable time lines. With all these failed predicitions, I am actually questioning whether JoeM is being the same careless when working out legal stuff, or is it only in the communication to us? Maybe there are loop holes for the CMF and Veneto holders in regards to the so called (??) "restricted shares"!? When I read all those "sloppy" written PRs, I could get to this comclusion.
In order to close this message on a more positive note, I still think that GNBT has a lot of potential (or otherwise I wouldn't still be holding a six figure number of shares, which is currently the most significant holding in my brokerage account!), but I definitely think that GNBT's management team still has a lot to learn as well about how to run this company and how to properly communicate with its shareholders. When I listend to JoeM during those CCs (or the most recent interview) I still have faith that he will be able to do this, but he should definitely NOT think that all is good and he can continue the way he and his IR manager is doing this right now!
As next steps, I am hoping to receive an announcement ...
1) on the final dividend dates (hopefully very soon, sometime next week!?).
2) on the NGIO spin out details
3) on the approval of the S1, which in itself will be an official statement by the SEC that GNBT is a legitimate company, and thus help silence negative posters on YMB, because from then on it is clear that GNBT is NOT a "fraud, pump and dump, smoke and mirrors, or empty shell" as I read there all the time.
4) a clear statement once the S1 is approved, that JoeM still has the best interest of us shareholders in mind, and is not giving away more than half of the company to raise the $40m funding. But a very clear statement as to what his intentions related to the $40m "equity investment instrument" is.
5) on the current status of the investigation against CMF and Veneto "illegal selling". Whether it really was illegal and what exactly the company is going to do to right the wrong doings of these individuals and how GNBT AND we shareholders will be compensated for our losses!!
What we really need is a THICK RED LINE that guides us through all the ideas and visions that Joe has for this company, such that we are able to gain back the full trust in this company! I absolutely think that this is one of the most crucial matters that GNBT has to start working on. And it surely does not help when JoeM continues to show up on here or the YMB and makes fun of or even worse insults posters. All this should not come by accident or chance, but following a clear IR strategy!
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