Open letter to CEO on Twitter22 May 2023 12:42
Dear Mr Taylor,
I speak on behalf of a large group of retail investors who have been involved since your IPO. We are not just shareholders but also repeat and dedicated customers. Sadly we have steadily watched the value of our investments fall; something we appreciate can happen when investing in novel companies. We completely understand the complex and volatile journey of a nascent business and the hurdles the company has faced and more than often not surmounted.
The CBG skincare range is amazing and the efficacy is obvious from the first usage; congratulations on such amazing products, we look forward to the company building out this pioneering offering.
As individual investors we understand you cannot divulge any non public information about strategy, however we do feel you have a responsibility to communicate more openly and effectively with the hundreds of investors who have supported the company tirelessly since IPO.
Our recent acquisition of Kingtide is exciting but when we try and dig deeper there is little meaningful information publicly available. Kingtide was incorporated in Singapore just a couple of months ago, has a very basic website with typos and inconsistent email addresses, and has no employees, why did we give its founder 15% of our company ? Beyond the detail-light RNS can you share with us investors the strategy behind this substantial commitment. We have been given no information on how Kingtide will operate, its customer base or revenue model.
We are a group of investors who number more than 300 and are highly supportive of the company but please can you engage with us with more clarity; we are after all the reason you worked with Primary Bid at IPO and were able to raise so much capital so easily. We have always been your biggest advocates and want to continue to be so, please engage with us accordingly
Sincerely, The Cellular Goods Investors Group
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