I would like to make a serious motion as a "Friend
Post# of 36536
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Posted On: 08/10/2021 9:11:32 PM
I would like to make a serious motion as a "Friend of Generex and NuGenerex":
From now on, when Joe (or another GNBT/NGIO official) makes what seems like a definitive statement on a conference call about something concrete (such as "X will happen on/be finished by this specific date" or "We have this financing in the works, and, once it is signed, we will be able to do X, Y, and Z"
, callers must hop into the question queue for EACH such item and follow up with something such as:
"Joe, you stated that there is financing in the works that would allow us to do X, Y, and Z... once this deal is signed, will you be informing shareholders of the signing of this financing deal thru a PR or an 8K, or will we be waiting for the next 10Q/K to find out that the deal was signed?". And we should follow up with Qs on this until we understand what to expect on that topic as it develops.
I'm sure there will be times where Joe says he won't be updating us. But at least we will have proper expectations, and maybe we will understand why we won't be getting such an update.
We are well-intentioned shareholders who put in a consistent and (I believe) valiant effort to understand a very complex situation. Yet we are still non-professional investors/non-analysts. We have allowed dates and milestones to be tossed out to us time and time again, and we have naively assumed that future developments on these topics will be disclosed to us.
Clearly we do not have a solid grip on when Joe will be required to update us, and when he will not. And this allows him to provide updates when he wants to and leave us blowing in the wind when he does not.
I believe we should try to get him to commit to updates on these items when he is in a public forum. I don't intend for this to be a "gotcha" type of situation where we are trying to pin Joe down unfairly or unnecessarily. We just want to know what to expect.
For example, on the last call, someone could have followed up with Joe and said, "Going from the 5/18 date you just gave us for the vaccine production run, adding the 8 weeks (you said 6-8 weeks) for stability, and adding a couple of weeks for data analysis and IND prep, it seems like we should have the IND ready to submit by around 7/27. Do you plan to update us on the actual submission of the IND, or will you update us on progress if this late-July time frame passes without submission?
I believe we deserve a better, more consistent, and more predictable level of information flow. So we need to push for commitment to that whenever we have the chance, and we have the right forum.
From now on, when Joe (or another GNBT/NGIO official) makes what seems like a definitive statement on a conference call about something concrete (such as "X will happen on/be finished by this specific date" or "We have this financing in the works, and, once it is signed, we will be able to do X, Y, and Z"
, callers must hop into the question queue for EACH such item and follow up with something such as: "Joe, you stated that there is financing in the works that would allow us to do X, Y, and Z... once this deal is signed, will you be informing shareholders of the signing of this financing deal thru a PR or an 8K, or will we be waiting for the next 10Q/K to find out that the deal was signed?". And we should follow up with Qs on this until we understand what to expect on that topic as it develops.
I'm sure there will be times where Joe says he won't be updating us. But at least we will have proper expectations, and maybe we will understand why we won't be getting such an update.
We are well-intentioned shareholders who put in a consistent and (I believe) valiant effort to understand a very complex situation. Yet we are still non-professional investors/non-analysts. We have allowed dates and milestones to be tossed out to us time and time again, and we have naively assumed that future developments on these topics will be disclosed to us.
Clearly we do not have a solid grip on when Joe will be required to update us, and when he will not. And this allows him to provide updates when he wants to and leave us blowing in the wind when he does not.
I believe we should try to get him to commit to updates on these items when he is in a public forum. I don't intend for this to be a "gotcha" type of situation where we are trying to pin Joe down unfairly or unnecessarily. We just want to know what to expect.
For example, on the last call, someone could have followed up with Joe and said, "Going from the 5/18 date you just gave us for the vaccine production run, adding the 8 weeks (you said 6-8 weeks) for stability, and adding a couple of weeks for data analysis and IND prep, it seems like we should have the IND ready to submit by around 7/27. Do you plan to update us on the actual submission of the IND, or will you update us on progress if this late-July time frame passes without submission?
I believe we deserve a better, more consistent, and more predictable level of information flow. So we need to push for commitment to that whenever we have the chance, and we have the right forum.
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