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Concerning the Apparent Short Attack Hit Piece Published the Week of July 10th, 2020 Referencing my Name

4 min read

Chad McMillan
VC | Creative Artist.

Friends and Colleagues,


It has been brought to my attention an apparent hit piece short attack article published this week by a self-proclaimed stock market “Guru” (🥱🙄), insinuated my involvement with the activities of a public company mentioned therein.  


I don’t like to spend my time chasing and feeding seeming attention seeking trolls and shadows but in my honest opinion, this and articles by this writer before it appear to represent a continuing personal vendetta against the company, extending to anyone now or ever involved with it, among other things.  This, coupled with comments by the writer defaming my person make this action sufficient for me to now reply.


Firstly, for clarity, while flattered by their seeming obsession with me I have not met this person, do not know this person, and have never done business with this individual.

 

To the best of my knowledge, as the story actually goes, (which he has never disclosed to his readers amidst all his noble grandstanding and to the best of my knowledge), this individual did business with the old management of the Company previous to my engagement, a venture which went sour and to which he has never forgiven the Company for.


In my professional opinion, via third party testimonial and my own observations, it has since seemed to be his effort to smear the company and anyone associated, despite management changes, name changes, project successes, failures, pivots, considerable qualified investment from reputable investors and registered broker firms, contracts and partnerships with Tier 1 organizations, overarching industry trends, etc etc etc.


For the record, my contract as a Strategic Advisor to the Company ended October 2016, and my options were canceled Jan 2017 (which in my honest opinion support the public confirmation of same), both of which are documented. (The latter of which should also be self-evident in the public record for those who know where to look).


Further, I believe that those who have done business with me and know me well, know that I have been raised to and hold myself to high and ethical standards of operation in the public venture capital community and all areas of my business, with clear and pure intent and purpose, to create tangible, fundamentally sound opportunities which help contribute to society in a positive way, while at the same time collectively grow wealth for industry stakeholders and investors by the provision of same. (In fairness, as we all know in this business, this sometimes isn't always the result, but it is most certainly the focus of my work.  Any venture that does not embody these ideals this is a complete waste of my time, and I have better things to do with my life).


As such, I am not going to sit idly by while my name is dragged through the mud, and I will not be intimidated but the suggestion that I am being followed, monitored, watched, similar or otherwise to effect some form of chill on my life, business, personal activities or otherwise.


As such, together with my colleagues and counsel I have a full and clear understanding of my rights in this and similar regards as I have also seen first hand the kind of evolving darkness that can emerge from these kinds of mental health illnesses and obsessions seemingly apparent in this case.  (For context and clarity, my contract ended nearly 4 years ago).  To be clear, any future moves of mine will be dealt via the relevant authorities, as when where and if I, and I alone deem to be appropriate.


Speaking of which, and as an aside, I do feel these apparent hit job short activities represent a major issue for the public markets, companies, stakeholders, and executives which simply do not seem to be sufficiently addressed by our securities regulators at the present time.


For instance, after the seemingly strategically timed release of this article, the Company’s share price depreciated some 50%, (similar to the first instance of this writer’s activities, which to the best of my knowledge was never investigated nor addressed).


For my part, I am a proponent of and supporter of free speech, open debate, and discussion of the merit of any company and its activities through any and all appropriate channels at any time, by anyone who sees fit to present their case.  (I believe this to be valid and healthy in my honest opinion and helps make companies stronger and better). 


BUT, I do believe a line has most definitely been crossed when the subject matter has a clear and obvious malicious intent, almost surely aligned for financial gain, to the effect of smearing executives, their persons, lifestyles and personal integrity as well.

 

It is for this reason also beyond the above herein mentioned that I share these personal thoughts to encourage the appropriate regulatory authorities to do the work by which they are so mandated, and investigate these seemingly targeted short attack practices thoroughly and in their entirety, including and particularly obviously the one in this case, in the interests of preserving and protecting the integrity of our capital markets now and for generations to come.


Any further commentary on the matter beyond this post remain at my own discretion, but where I otherwise leave in the full response in the hands of the targeted company's management to pursue and comment on, as they have already thus far, and concerning matters which I have no visibility on, other than my personal opinions as an outsider looking in.


Thank you for listening.


Wishing you continuing success,


~Chad McMillan ✌🏼


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