Aug. 24 at 11:35 PM
$ARDS You guys make too may excuses for Aridis management. The fact is that, after Vu had previously promoted the company and its prospects to investors, management ultimately allowed the company to lose its Nasdaq listing and thereafter failed to take the steps necessary to restore a normal public trading market for shareholders. Management then made the VOLUNTARY decision to stop maintaining the company’s SEC reporting compliance. Management itself acknowledged that this “VOLUNTAR NON-COMPLIANCE” caused ARDS to be moved to the OTC Expert Market, severely impairing liquidity and ordinary shareholders’ ability to trade their shares.
Management also liquidated company equipment, office furniture, and other office inventory, apparently as part of winding down the company’s physical operations WITHOUT providing shareholders any meaningful public explanation of what was being sold, why it was being sold, how much was received, or what happened to the proceeds.
No excuses should be made...