I’m glad to see you express what I have been saying for months as well as others now wondering about what is going on at edig.
Just what does Fred do that justifies a salary or $180,000 for managing a small group of 7 people. As a matter of concern, what has this group, including the prior engineering people before they were renamed, done over the last 5 years to justify any salary? We have not seen one new product or do any new patents come to light that have been granted. Sure they talk about several new patents that are part of the nunchi system, but we don't know anything about nunchi or if it will ever go to the market, and if so, will probably be late based on some of the technology this board has uncovered.
The BOD do not provide leadership or guidance from what we know, management offers no business plan, except a 5 or so point list that has no resemblance of a business plan.
The secrecy is sickening, the lack of shareholder concern is even more sickening, it all adds up to they are enjoying a nice ride without responsibility, without timetables, without actions, while we seat with a loss of 5-95% on our investment.
One solution may be the result of the following. The only board member that owns shares is Polis. The others have never used their own money to purchase any options; one doesn't show up for the annual meeting. If Fred cannot run this ship like it should be run, then the board should ask Fred to retire as well as the other Board members except Polis.
A special shareholders meeting could be called and new directors could be approved, once some individuals are identified and acceptable. Polis as the new Chairman could bring into the company an experienced and proactive leader to turn the company around and demand production from all employees based on a well constructed business plan.
We can ill afford to wait for 12-18 months before anything is initiated, waiting for the reexam. It may not be prudent to file new lawsuits, but the nunchi platform/system has to be wrapped up and contracts have to be signed. All efforts should be directed to accomplish this goal.
A company commitment to the investment community should be made, announcing short term strategies related to nunchi, patents, other goals and a range of projected earnings over a multiple year timetable, but without yearly specifics.
It’s essential that our strategies, goals, products/services and commitments be made available to all potential investors. Achieving the above will attract new investors, new capital and will stimulate growth in revenue and profit, short term and long term.
Shareholder value is the top priority and plans must be developed to accomplish this task.
As a side note, I don’t think Fred cares about the shareholders; at least he doesn’t show it.
