Good work, Letter from the chairman!!
http://medicalgreens.com/AboutUs
07/23/2013 - Letter to SKTO Shareholders from Kevin Allyn Dear Shareholders:
It has been an interesting time as we continue to grow the company. We are preparing to issue our Q2 2013 financials, which, as you will see, show that the company has continued its steady growth.
I would like to highlight the following points:
1. We are preparing to bring aboard an investor relations firm to be more responsive to the information requests of our investors. Watch for a future announcement on this. This will relieve a considerable burden currently falling on Jeff Benz, who has been inundated with investor emails, tweets, phone calls, and other efforts to communicate with him. Although he would like to respond to each and every inquiry, certain regulatory rules and simply the limitations of time, prevent him from doing so. The investor relations firm will permit Jeff to focus his efforts on helping us build our business.
2. We are still preparing for the distribution of the stock we hold in Alternative Energy Partners, which we expected to have been completed by now. As we previously announced, this distribution of stock to our shareholders required that the shares be registered with the SEC before the distribution, a process which we are unable to do ourselves. While AEGY has agreed to undertake this registration, it is a complex, expensive and time-consuming process and requires the completion of SEC review after filing, and the clearance of a Notice of Corporate Action filed with FINRA before it is effective. We are advised that AEGY will have the registration statement filed shortly, although that may require completion of the audit of its financial statements for its fiscal year ended July 31, 2013, if requested by the SEC. Since this process has taken so much longer than expected, our Board is now considering moving the effective record date of shareholders who will receive the distribution to coincide with the date of filing of the registration statement by AEGY. We will advise you in more detail as this proceeds.
3. My radio interview with Larry King is still pending. Larry and I have met and talked several times since the interview was first announced and we are looking for the right time and manner for conducting this interview. I am also scheduled for several other interviews with various forms of media outlets over the next few weeks and we will announce those as they happen.
4. We will be moving the company’s headquarters to California. The Miami, Florida address caused so much rampant, and irrelevant, speculation, that we felt it best to just make this move so there would be no more ambiguity. We will announce the details shortly.
5. We are in the process of formalizing our company business plan, about which we are very excited, and you should see snippets of that in the coming weeks in various forms. In summary, right now we are examining a variety of strategic options and possible partners to advance the business’ growth quickly.
6. I regret to advise that George Jones has decided to focus on his other business ventures and is no longer on our advisory board. We wish George well in his future endeavors, and we are actively looking to replace him with someone of similar caliber.
7. There seems to have been speculation on the investor boards that a Canadian private equity firm, iVest, was taking a position in the company or in iEquity. Nothing could be further from the truth. iVest and iEquity are different companies, focused on different sectors entirely, and there is no relationship between them. So far as I know, there is no intention of iVest to invest in SKTO or of SKTO or iEquity to take a position in or related to iVest; and there are not now, and have not been, any such discussions.
8. I again wish to comment on the investor boards. I will repeat that we do not manage to please the boards, and that our perspective is long term. While some individuals invest in our stock to realize short term gains, from either direct investment or shorting our stock, we do not undertake actions to involve our selves in these hourly or even daily market fluctuations. We will either prove to live up to your expectations for the company, or not, and that will be seen over a much longer term than the 16 weeks I have been involved. We do continue to see people put information on the boards that is often of questionable factual basis, and at other times the product of complete malicious, and defamatory, fabrication. It is clear that there are divergent motives for people posting on the boards, with some being very positive, probably because they want to see the stock price increase to enhance their own position, and others being very negative, probably because they want to see the stock price decrease to enhance their own short position. While people can have different motives for posting what they do, they cannot do so with an intention to attempt to manipulate the stock price or use defamatory or other wrongful means to accomplish it. The serial tactics of personal and corporate reputational abuse we have witnessed from certain individuals we have identified is frankly troubling and without precedent in any other area of business. I will reiterate that we intend to and are preparing to pursue those we believe are engaged in activity that unlawfully damages the company or its principals, but we are not going to respond to every little point raised on the boards.
I hope that this update is helpful and demonstrates the exciting times ahead for SKTO. I can confirm for you that we are on it, and that our investors can and should trust that we are. Judge us by how the company grows.
Thank you for your continued support as shareholders.
