Happy Sunday evening -- Some predictions and thoughts:
Predictions for this coming week:
1. Some type of funding update. We were sitting right around a $10 million cash balance on July 31, based on what has been disclosed. There must have been some fundraising happening, so looking forward to further information. Expecting more funding from Fife.
2. Definitely looking for an update on Brazil. Seems like the critical trial has been approved. Would be great to see that in writing and maybe even a confirmation that injections have started.
Thoughts:
1. There have been posts here and elsewhere that seem to be trying to find a middle ground. I think this is good. Specifically, I am referring to the composition of the Board of Directors.
2. Can we get to a place where the BOD doesn't include two management personnel and doesn't have a situation where the Chairman also has an executive position reporting to the CEO? This is a problematic governance structure.
3. Would love to see 7 directors. A combo of existing and new nominees. With this group, I could see having the CEO as part of the BOD. Whether that is NP or not.
4. I can't see a role where SK is COB and also CMO, reporting to another board member. He could be on the Board and also be the CMO. But, in that case, I don't think the CEO should be on the BOD.
Structure and governance is important. We have drifted away from a solid foundation. I would like to see us adopt an industry standard approach to this. BTW, this is also in alignment with the expectations of Nasdaq and Institutional Investors.
Predictions for this coming week:
1. Some type of funding update. We were sitting right around a $10 million cash balance on July 31, based on what has been disclosed. There must have been some fundraising happening, so looking forward to further information. Expecting more funding from Fife.
2. Definitely looking for an update on Brazil. Seems like the critical trial has been approved. Would be great to see that in writing and maybe even a confirmation that injections have started.
Thoughts:
1. There have been posts here and elsewhere that seem to be trying to find a middle ground. I think this is good. Specifically, I am referring to the composition of the Board of Directors.
2. Can we get to a place where the BOD doesn't include two management personnel and doesn't have a situation where the Chairman also has an executive position reporting to the CEO? This is a problematic governance structure.
3. Would love to see 7 directors. A combo of existing and new nominees. With this group, I could see having the CEO as part of the BOD. Whether that is NP or not.
4. I can't see a role where SK is COB and also CMO, reporting to another board member. He could be on the Board and also be the CMO. But, in that case, I don't think the CEO should be on the BOD.
Structure and governance is important. We have drifted away from a solid foundation. I would like to see us adopt an industry standard approach to this. BTW, this is also in alignment with the expectations of Nasdaq and Institutional Investors.
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