Hello MaCloud.

Enhancing your usual seriousness and even-handed helpfulness, in your last message, I appreciate your understated tongue-in-cheek digs at Dr. Smith (such as “not due diligent at all in keeping us with timely updates”; such as “not the ideal behavior”). Of course, the oversights you’ve aptly pointed out can also be described (as I would put it) as “blundering oversights.” This is the worst kind of high-handed behavior. It’s as though Dr. Smith were “The Great Sovereign” (as I’ve referred to him more than once in the past) who has no time for the concerns of His lowly subjects (the Shareholders).

For the edification of the people new to this Message Hub, there’s good reason why our negative comments concerning Dr. Smith’s communication skills are generally milder than deserved. It’s because, in other respects, His leadership has not been all that bad. So far as myself, I go so far as hold the minority view that “not-all-that-bad” doesn’t go far enough to portray His good side. It’s important not to lose sight of the fact—that apart from His non-existent communication skills—His strategic decision-making has been singularly excellent (albeit not perfect).

When you juxtapose the towering value of Fancamp’s assets with Dr. Smith miserable failure (or inability) to initiate any rational two-way conversations with investment institutions, you have an explosive mixture. This is not Inside Information. It’s completely legal for us to trade on it (because it is evident and it has been dutifully disclosed). Yet, knowing-what-we-know is fully the equivalent to having a pipeline of Inside Information, which—after the public information becomes more widely disseminated—will have fiery consequences.