Over the past two weeks I have had numerous private clients and outside investors contact me requesting my opinion on CryoPort (OTCBB: CYRX) and when/if I would make additional comments. Back in the summer, I indicated that "if it became necessary" that I could become an agent of change in this situation. Again, this is only if necessary to protect the interest of my clients. As a Registered Investment Advisor, I have a responsibility to ensure that I am doing everything I can to properly oversee our investments and if it means that I need to get involved in additional ways, I will.
I have been gathering data over the last couple of months, and I am currently putting together an Equity Research Report that I intend to publish through my firm, Meehan Capital Management Group (www.meehancapital.com). My current intention is to publish this Equity Report in October and in the report, I will discuss various aspects of the stock, valuations, potential deals and pitfalls, current financial stability, future financial outlook and more. The names and trading symbols of companies that "I believe" could be doing business with CryoPort in the future will be included in my report.
I am hoping that we will hear some communications from the company before I issue the report as a detailed shareholder communication could clear some unresolved items that I have. I will attempt to once again reach out to company management and I hope that they will speak frankly with me as to the ongoings of the business. If they will not, I will utilize the best information that I have and make an opinion.
I have been told by the Company that the Annual Shareholder meeting will be discussed at the 4th Quarter Board of Directors meeting. Thus far, I have not received clarification as to whether it is "fiscal" 4th quarter or "calendar" 4th quarter (CryoPort's year end is 3/31). In the event that there is not a shareholder meeting held by the end of November, I am considering using the rules set forth in CryoPort's ByLaws to call a shareholder meeting utilizing the appropriate level of shareholder participation. The shareholder meeting will be open to all shareholders and I believe that if company management is forced to meet face to face with its sharholders, they will finally understand that investors want to see action NOW and put additional efforts into closing a deal.
For shareholders who are concerned with the lack of transparency being exhibited by this company, the only thing that I can say is to contact the company and let them know your concerns. I think that most investors out there understand my position by now, but the Equity Report will provide a clear explanation of my opinion of the stock.
In the meantime, I hope that everyone has weathered the current financial fiasco without too much stress and maybe even made a few bucks.
