The continuing failure of the Board of Directors and Management to live up to their projections for growth surely reflects something more then stupidity. I believe that somewhere in that reflection has been a serious effort to thwart any potential takeover, hostile or friendly.
The sudden consumption of all of the Company's cash and the uploading of a considerable debt burden to make the bill for the Company's recent acquisition virtually insures the "immortality" of current Directors and Management.
All of these individuals enjoy considerable perks including direct cash compensation, stock options, paid attendance at Board meetings and the lavish expenses of high-end meals and accommodations while traveling.
It never ceases to amaze me that the institutional shareholders who control over 80% of the outstanding shares have put up with the pathetic performance of this Company.
When RTIX was merged with Tutogen and briefly run by Manfred Krueger, the market capitalization was over twice what it is now. Why is that?
Whenever such questions are posed during conference calls with investors, Management spouts the same gibberish. Never once to they accept responsibility for the Company's failure to grow. Why doesn't the buck ever stop at the Directors' desks or Managements' doors?
This company still has all the potential it had when Manfred Krueger was in the driver's. Maybe it is time for the shareholders to wake up and call the Directors to account and for the Directors to call Management to account, and maybe to recall Mr. Krueger.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: Former communications consultant to Tutogen Medical.