Interesting times to be sure.
Right now, the most senior person at the company is a compliance specialist at a wealth management firm. Go to Eagle Bay advisors webpage, and you can see her bio. It reads very clearly:
“Tanya is a litigator with an emphasis in financial institution defense and litigation. While in private practice, Tonya represented broker dealers, investment advisors, registered representatives, and other securities professionals in civil disputes and regulatory matters, regarding violations of state and federal securities laws, violations of rules of regulatory and self regulatory organizations, and financial fraud.’
So NP was sacked, Scott Kelly was demoted, and this person was placed in the most senior position of the company. Hard to understand that move unless it was a purely defensive maneuver. Just to be clear, she has no experience whatsoever in leading a company, putting deals together, or anything that would lead her to be able to make moves to maximize shareholder value. For those of you whoever worked at big companies and dealt with compliance people and lawyers, you know what I’m talking about.
So now we have Scott Kelly as the only person in a senior position with any history of leading the company in anyway. The president is a CFO, and as much as I love recknor, he is a doctor and research guy. And this is been the case for several weeks – – I think we have to go all the way back to the date when the conference call was canceled, as the date they knew that NP was out.
What is my point? I think the company is set up for some type of sale or other deal with the partner bringing their people in. Otherwise why put us in this situation with a complete vacuum of any leadership? The alternative is that we are having a hard time finding a CEO. that would be understandable because someone really good may not want to take on the risk of our current situation.
Right now, the most senior person at the company is a compliance specialist at a wealth management firm. Go to Eagle Bay advisors webpage, and you can see her bio. It reads very clearly:
“Tanya is a litigator with an emphasis in financial institution defense and litigation. While in private practice, Tonya represented broker dealers, investment advisors, registered representatives, and other securities professionals in civil disputes and regulatory matters, regarding violations of state and federal securities laws, violations of rules of regulatory and self regulatory organizations, and financial fraud.’
So NP was sacked, Scott Kelly was demoted, and this person was placed in the most senior position of the company. Hard to understand that move unless it was a purely defensive maneuver. Just to be clear, she has no experience whatsoever in leading a company, putting deals together, or anything that would lead her to be able to make moves to maximize shareholder value. For those of you whoever worked at big companies and dealt with compliance people and lawyers, you know what I’m talking about.
So now we have Scott Kelly as the only person in a senior position with any history of leading the company in anyway. The president is a CFO, and as much as I love recknor, he is a doctor and research guy. And this is been the case for several weeks – – I think we have to go all the way back to the date when the conference call was canceled, as the date they knew that NP was out.
What is my point? I think the company is set up for some type of sale or other deal with the partner bringing their people in. Otherwise why put us in this situation with a complete vacuum of any leadership? The alternative is that we are having a hard time finding a CEO. that would be understandable because someone really good may not want to take on the risk of our current situation.
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