An open letter to the CEO, page-3

My appologies at the start of this post for my reaction to it..

I told you so...

Between self made riches, myself and Dougalhousen, we have all told you that this was Geoff’s attitude.

I have on many occasions mentioned that during my conversation with him, he said that the share price was not his concern and that the tech was, then telling shareholders about the tech, was also not his concern, as milestones had been achieved and the fact that when those milestones are achieved, shareholders don’t need to be told about them, as that’s just reporting the past.

I am sure you reading this you are feeling as dumbfounded as I was when he was telling me.

Then I asked about deals, he said he wasn’t interested in deals.. partnership agreements as 1 partner was enough to juggle and that he didn’t want royalty agreements as companies are happy to pay royalties for a few years, but beyond that they don’t like them and he didn’t want to deal with that.

So to me that leaves going it alone..
I asked about options in the money, he said he didn’t care about optionsas they were only an option to buy a share and they shouldn’t be traded.

By this time, I am thinking he is yanking my chain.. no one can be this contemptuous toward shareholders, as a CEO. Then the communication stopped and his ‘plan of attack’ started..

Why would he play this way.. when the options could have provided the capital that he needed to get the demo plant built..

He told me that he would just raise capital via corporates, and that he didn’t want news to create spikes in the share price...

The irony behind all of this is that he wanted steady movement in sp, yet he wasn’t concerned about the sp... then didn’t want large spikes and wanted steady movement up and no communication (as evidenced by the last 2 years) means a slow trudge downward.. from the highs of low 40s when the road shows were on to now at low 20s.

all of this information is readily available on many of my posts since Techknow last October. The fact that many posters expect anything different is understandable, if I were reading posts I didnt agree with, I wouldn’t pay them any attention either..

It doesn’t take away from the fact that this is exactly how he said it was going to be played..

The simple fact that the options didn’t make it well into the money is the biggest mistake that has been made imho.. it was going good with all the communication with holders..

Holders could be looking at the beginning of the construction of a demo plant now.. in the interim, you are looking at no money for a demo plant. No way of raising significant amounts from holders at 22c and a disgruntled ex CEO who was pushed out of the roll with about 6m shares to sell at his leisure to hold sp down, and is doing a great job of it. Any appreciation in so is sold into.

As I have said many time before, I think the tech is amazing, it’s the only reason I am still here.. there is still a chance for this to work. But it is becoming harder by the day for that to happen.

I hope geoff is as good as he thinks he is to make this company thrive, because it is the right tech at the right time.. to not make it work would be the biggest disappointment of my time.

Good luck all..