Here is what he says.....
Good morning,
Thank you for your note. Mr. McCaffrey confirmed at the annual meeting of shareholders last week that management continues to engage in discussions around several financing options for the company, of which licensing and partnerships agreements are among those options. Please see slide 21 of the attached presentation.
The company will disclose via press release, as required, any transaction at the time they are duly executed.
Regards
And here is my reply...........
Clayton,
Respectfully sir....
Mr. McCaffrey chose to disclose that the company would be announcing a 2nd licensing/partnership deal in 2016, before any such deal was executed. And now you seem to be telling me that the company is not going to complete such a deal. This was not presented as something that was expected or anticipated, its on slides from investor shows like at Rodman & Renshaw that the company "will be announcing".
Why is there now a sudden need to wait for such a deal to be executed when that requirement wasn't there before? Over promising and under delivering is not a successful formula for building investor confidence. On the other hand if the goal is to undermine investor confidence, in the case the CEO is doing an outstanding job.
Sincerely
