I Think An Apology is in Order
posted on
May 23, 2008 04:46PM
There are several posters on this board who deserve an apology.
For years there has been a tendency to harshly criticize board members who refused to buy into another dose of optimistic rhetoric concerning the company whose stock we own. We have been portrayed as malcontents who have nothing better to do than criticize the management of Vyta (and Nanopierce/Intercell).
My point for years has been that success must be proven before any additional investment on my part could be justified. My opinion remains unchanged.
Where are the sales? If this product is as good as many promote it to be, why has nothing of any significance happened. $20,000 quarterly revenue is an embarrassment. In light of management's proclamation that the demand for the product would outstrip the processing facility's ability to produce product immediately upon completion appears to have been incredibly naive or intentionally deceptive.
I honestly believe there are some longs here who have only the best of intentions. I salute their conviction. I know this journey has done nothing but try their resolve.
There are others, however, who I believe make statements in support of their selfish interests. Not only do they choose to ignore the history of this company (as Vyta, Nanopierce, and Intercell); but, they dismiss the opinions of many of us longs who have been peppered with optimistic market forecasts, and discussions of product tests, and talk of letters of intent and secretive deals (including "friends" of the company).
Am I the only one who feels so strongly about this? I lost a great deal of money because I believed the Nanopierce hype. I can't believe that others who have lost as much money, or more, wouldn't feel the same anger with current management and the state of Vyta. There is absolutely no justification for management to be compensated for their performance.
It's hard for me to believe that I am still following this company. It's even harder to believe that my original investment is worth less than 1% (on a shareprice basis) of what it was in 2000. I take responsibility for my investment. I don't, however, believe that the information that was provided to investors was objective.
Where will it end?