American Green Inc (OTCMKTS:ERBB) has severed ties with Mr. Jonathan Miller who until now was the chief executive officer. Mr. David Gwyther who is the chairman of the board is to assume the CEO role. In a press release, the company has defended the move stating that informal restructuring was necessary as one of the ways of aligning the company’s short term and medium term initiatives.
Mr. Miller Poor Reign
The termination of Mr. Millet contract does not come as a supreme given that when he took over there was hope that he was the right person to steer the company to new heights. Fast forward, nothing has changed on the upside, investors having lost touch with the stock seen by its dismal performance throughout the year.
Given that, the stock has been on a downtrend all year long and investors questioning what was going to get the stock price move higher all but left the management team with no option. It is an understatement to say that American Green has been a disappointment given that the former CEO failed to deliver on a good number of his promises.
Long Term Plans
Failure around the ZaZZZ Machine has all but brought to light the challenges the company continues to face. In a press release, the company says it is evaluating all the uncompleted initiatives but the former executive with a view of providing details about the same in the coming weeks.
Away from the management changes, American Green is currently looking for one thousand testers for its American Green Xpress smartphone app. The company believes the app has the potential to become a leading mobile solution for patient and customer convenience. Investor’s reaction to the app has so far not been good.
Even though American Green Inc (OTCMKTS:ERBB) is a household name in the pot, industry it has a long way to go if it is to reinvigorate its prospects and bolster investor sentiments on the stock.
Iddriven Inc (OTCMKTS:IDDR) To Miss Deadline For Quarterly Filing
Iddriven Inc (OTCMKTS:IDDR) has filed a Form NT10-Q, with the SEC stating that it would not be able to file its quarterly report, for 2Q2016, on time. The company cited that it was facing delays in obtaining and compiling the information necessary for the quarterly report. However, IDDR has assured the SEC that it would make the filing within five calendar days, after the due date.
Earlier in January, the company had issued a special letter to its shareholders, revealing that it expects its sales figures to grow significantly, in the following months. In the letter, IDDR CEO, Arend Verweij, stated that the management was building a strong sales and corporate structure, to boost sales from the current quarter. He also claimed that the management was targeting medium and large enterprises, to market its identity management solutions to. Mr. Verweij even promised to provide updates on new deals, as they were signed.