anyone with more £millions than letters in their names? MortgageFree was told by “I made £200m out my last company” Humphreys that he was confident about EVO back in July. Besides the blatant dishonesty of this answer, maybe we should have asked him to invest just 1% of his fortune. But he obviously thought the risks were too great as the company was run by a complete incompetent i.e. himself!
Anything will be better than Humpty Humphreys & Co. For a start VENN seem to have better qualified people with experience in relevant markets. But they'll have a job on to get it going again. I wonder if they're talking to Dr. B? I just hope VENN don't start talking about "shareholder value"!! Doh!
EVO bought LabSkin for about £1m. It was fully developed when they bought it so they didn't do anything for 3 years other than spend £3m to end up selling it for £200k. EPIC FAIL! (as us kids say).
I’m afraid it’s because they couldn’t really give a toss about “shareholder value”. It’s a game to them, where investors are just mugs who are willing to keep the illusion going by buying and selling. They never connect with us because they never meet us. Let’s face it, they were quite happy to shaft their employees who they saw every day, rather than admit they didn’t know what they were doing. Live and learn. Live and learn.
Agreed. But sad that we still feel the need to comment? |’m sure we’ve all got the members of the BOD on our radar and will avoid them like the plague in the future. For the record (& search engines) the culprits are Gwyn Humphreys, Tom Bannatyne, Darren Bamforth and Mike Townend. These names are from the EVO website, which is still there in all its misleading glory! But they are irrelevant now. I hope Venn use their cash wisely and make something out of LabSkin, if only to prove how much the EVO BOD fouled up. My advice to Venn is don’t dick about. It’s a good technology but don’t make the same mistakes Humphreys and co did. Listen to advice and get the sales machine going. In fact, take on Mortgagefree as I remember he had some good ideas on the subject?
The facts are that Gwyn Humphreys had nearly 2 years as CEO with adequate cash to make this work and he's failed miserably. The BOD appears to have spent the last 18 months winding down the operation, hoping someone would take it off their hands. They were useless and incompetent in the extreme and they should have recruited someone with the business skills and drive that Gwyn Humphreys so obviously lacks, raised some more funds and got on with job instead of languishing in a soup of self pity. They've had two years for goodness sake! The key point is that it didn't have to end like this and the only reason it did was because of the EVO BOD and Gwyn Humphreys in particular. For that they should hang their heads in shame and they should be brought to book. But that won't happen because where we see self serving laziness combined with incompetence and arrogance, they are deluded enough to think they've done a good job. And the Mason-like old Boy network (& it is mainly men) of Dickrectors (not as spelling error) will ultimately protect their own.
Blah, blah, blah. A few small matters such as lack of staff, facilities, expertise etc. will make it difficult from the off. If they able to get some key people to join them then it may be possible. But they will have to work hard to get any staff back. I just feel they've been sold a pup. It could be the EVO BOD have shafted someone else??
Thanks Mate. First time poster, long suffering investor. But looking on the positive side, it's taught me to stick to a target and not get greedy. If only ......
Sorry for being a bit thick, but what exactly do EVO do now? No LabSkin, no syn1113 (that was the IP bit??), no assets, no staff, no nothing. Yet their website suggests they have lots of happy smiling staff and it is a "is a leading dermatology company focused on skin science". So whoever is still around, take down the nonsense website and stop misleading people. Otherwise I'll report you to the LyingCheekyBastard Web Police.