Strictly speaking, this has nothing to do with the lifestyles sciences. So consider free to scroll on by using.
However for the ultimate 5 years or so, on and off — on the whole as an MBA-degree enterprise school fashion case analyze — (along with an nameless commenting co-hort) I’ve curated a chronicle of the reversals of fortune, and manifold mis-steps — of a hapless Chicago business referred to as Mattersight.
I do not think there may be ever been a public application/consulting/tech business that retained (and repeatedly bonused) the equal CEO over a 16 year length (and very nearly the identical board majority, over the identical time duration) — all while switching cash draining enterprise fashions as a minimum three times, and on no account once making a penny of GAAP EPS from continuing operations. Not once in over 16 years. That goes back to the Y2K computer virus, and information superhighway bubble no. 1. . . . And the inventory has fallen from over $305. 00 per share, to as little as $2. 80 a share (backside of the soften-down of 2008-2011), and sits at $3. Eighty per share nowadays.
The intent I choose to mention it nowadays, is that the business will report its Q2 2016 losses this night after NASDAQ close. Ultimate week, on what appears to be an emergency foundation, it took out its historic financial institution lender (doubtless as a result of a covenant default), and changed it with a mission debt lender — on phrases that method vulture lending.
So, tonight’s call portends to be a watershed moment. I predict continuing and perhaps widening losses — because the company spends about $1. 50 for each dollar of sales it generates, at existing. Closing quarter, they parted techniques with their CFO of nine months — the third in 4 years, after simplest 9 months on the job.
The enterprise also admitted it couldn’t reliably tune what number of copies of its flagship product/utility are put in at consumers, so it could not make sure it changed into being paid relatively, on a seat license groundwork. And still the same crew awards itself equity and bonuses, for non-performance — 12 months after year.
So, just like the mini-web page on KaloBios, within the coming weeks — i could add an icon at left, so you may also effectively follow alongside — if the above holds any pastime. But I expect that MATR inventory will keep falling into day after today, at a minimal. Now you comprehend. Onward, for a calming stroll in. . .