Message: A message to Fred
I've been out of the discussion loop for over a month, but in reading some of the comments and getting an overview from a couple of my friends, I have some deep concerns about where this company is going and the lack of transparency and keeping the shareholders informed.
Not considering the patent process, what does the company have to offer that would benefit the shareholders and will we receive adequate information at the shareholders meeting about the company business plan and the elements and status of each, which we are entitled to.
I hope someone will put together a list of questions to submit to Fred for discussion at the shareholders meeting.
I sent the following email to Fred this morning outlining some concerns that need to be addressed.
To Fred Falk, President
I sent you an e-mail in early July and never received a reply. I think it's time that the BOD and management show some consideration for the shareholders and provide them with an update on many of the critical issues facing the company. Since we have no assurance that DM will prevail with respect to the patent lawsuits and provide an ongoing source of income, the shareholders need to have visibility concerning the future of the company and their investment.
Will you address all of the below issues at the upcoming shareholders meeting? Will you provide adequate detail concerning the items listed below?
Please respond and let me know that you have read this email, and tell me if you have plans to discuss each of the elements listed below?
Thank You
Richard A. Osborne
Shown below is the email sent to your attention dated July 6, 2011
Subject: This message requires immediate attention, an obligation of any President.
Fred, I think it is important and timely that you discuss the future of the company with the thousands of shareholders to let them know the state of the business. The communication should reflect the current business exclusive of the Markman ruling as we have no assurance that the decision will be amended or reversed to reflect a more favorable result for edig.
1) It's time to elaborate on the present and what the edig team is doing to make the future a successful venture for the shareholders. To accommodate shareholder needs, a full disclosure of the Nunchi project and its impact on the business along with the status of future partnerships and when they expect to make the process operational, a time line.
2) In addition, a sharing of the technical aspects of the patents that have been filed to provide shareholders a progress report and the applications as they may relate to in house products or partnerships, Again a status of the projects along with an estimated time line for implementation.
3) It's time to show the shareholders that a business plan has been developed and where the company is relative to achieving each of the elements within the plan.
4) An update on how to attract institutional investing and when those actions will be put into place has been an issue that needs to be resolved.
There is plenty to talk about outside of the patent suit/Markman ruling and these issues need to be addressed to help stabilize the company.
5) Lastly, a comment to assure the shareholders that DM is addressing the recent Markman ruling with 100% effort.
6) Fred, you need to communicate and provide transparency with the shareholders to establish creditability and the fact that the company has many opportunities other than the patent lawsuits.
Without visibility and total support the share price and company may not recover, bad for shareholders and management/BOD.
7) It's time for the company to change its shareholder relationship, transparency is the key to success, and withholding communications is tantamount to failure.
A shareholder since 2001
Richard A. Osborne
28 Recommendations
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