QUESTION
Hey Eric, ….Have you made any headway whatsoever in the friendly financing ring? We all know what you are trying to do, but we shareholders are running out of time. One more round of dilution and this stock is dead in my opinion. We cannot afford for this to trade in the no-bid-.0001 range. Is there anything going on that should make shareholders feel less uneasy about the situation? Thanks.
ANSWER
There are some very good people reviewing possibilities with us. Whether investment banks, high-net-worth individuals, or other interested parties – there are specific factors to take into account that require careful study by all sides because the situation is not typical. One thing that sets it apart is our interest in a positive experience for common shareholders. The typical R/S that would already have been carried out in a case like this is easy to do, and strongly encouraged by the people who benefit, of course. I could even say that I am a thorn in the side of people who would love us to do so. They consider my reluctance a mixture of naïveté and idealism. They view “shareholders” in the abstract. I view shareholders as people, with names, who trust me to do the best I can for a venture that we own together. Shareholders who were with us up to mid 2010 enjoyed many profitable trading opportunities as the share price rose more often than it fell, average trading volume was high, and momentum was good with a progression of higher lows. An important technical point is that very few people have acquired their shares at the “highs” Most of the volume is in the valleys between the peaks. Much money was made in trading during that time.
Since 2010 however, the downward trend of the share price was steady. The missing opportunity for shareholders to do well during that period must be corrected by fostering the conditions for a share price recovery. There are technical as well as operational factors which can bring this about. Our current market capitalization is low enough that a significant upward trend can take hold under the right circumstances.
This weblog documents the chronology of the emergence of a consumer product brand. Its entries over time demonstrate a positive spirit in seeking to accomplish a tremendous goal. Amidst the operational accomplishments, there are also set backs, delays and disappointments. This is in the nature of life and is true for all businesses that have set a profound and ambitious goal for themselves. There is no question that getting this aspect of our progress right, the next round of financing, is challenging because of the need and desire to accommodate a wide range of interests. It’s similar to the challenge of a rubik’s cube, with the need to end up with 6 clean sides. The difference is that a large number of people have solved that cube and posted their method, algorithm’s, special insights, etc so that the solution is available at your fingertips with any Google search. The same is not true of our special opportunity and challenge. Over all, there have been few consumer product brands that have gone from independent start-up to household name. It does happen, but it is rare. That’s what makes it so tremendous as an opportunity, and so tremendous as a challenge – both.
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I remain committed to making the interests of the current common shareholders the central theme of any discussion, with any financing discussion partners. I am confident that a sensible, respectful outcome is probable.
In the meantime, it’s tough on this end, I won’t deny it. I believe that in life you learn more about a person, or organization, from how they respond to their difficulties than how they behave when things are easy. I am proud of Winning Brands’ concern for respectful arrangements as a cultural premise.
As a final thought, it is natural that there is a great deal of ”second guessing” as to what the current options are. We should remember that people, when they make their assessments, reflect the extent of their own experience, not more. There are usually more solutions to a challenge than an individual can think of, no matter how experienced they think they are. Therefore, underestimation of available options in any given situation is common. Inspired problem solving involves going beyond personal first impressions..
Ultimately, most of the celebrated consumer product success stories over the years have involved special struggles and inspired solutions, both!
