Thursday, March 25, 2010
I was disappointed by the AGM. I think the target should have been:
1) say a few encouraging words about EEStor progress that is tangible yet respects the NDA
2) say a few encouraging words about success marketing Zennergy to the automotive market
I think the market opportunity discussion was not as important as expanding on the facts surrounding marketing it to potential automotive customers. Innocuous facts like, number of meetings, number of repeat meetings, etc seems like it would have been helpful. Interested parties aren't asking for highly secret information---anecdotes of a generic nature would be very helpful but not harmful.
Concerning the alleged harassment case: it does not appear that the correct facts of the case were actually brought to light in regards to the human rights commission. Keep in mind Zenn that the best way to put something behind you is to not create new opportunities for additional questions.
In my unhumble opinion, the single biggest challenge for Zenn at this point in time is to prove that the burn rate is actually accomplishing something tangible and concrete when placed against the backdrop of the fact that no one knows when EEStor might announce something. Also, there seems to be no sense of if the wait for EEStor might be 30 or 90 or 240 days.
So, to prove the burn rate makes sense, someone needs to elaborate on the "outsourcing" that is currently occurring. That is a very mysterious destination for investor funding at the present time and I'm sure if a bit of information could come out about it, it would be well received.
Finally, I think the missed opportunity to provide an encouraging message at the AGM is a direct function of the distraction caused by mishandling the harassment case. This needs to be placed in the rearview mirror as a much accelerated pace. Had the AGM gone over better with me, maybe it would have convinced me it is NOT a distraction.
Note to Rick McGraw: hope you're feeling better today. Shoot me a copy of your Doctor's permission slip. Thank you.