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$SRXH
After the blackout period ended โ still no Form 4 open-market purchases from CEO Kent Cunningham or the Board.
Everything Kent holds came from awards and grants. Zero personal capital at risk. Retail carried the dilution that kept this company alive through the compliance issues, reverse split, and near-OTC / bankruptcy risk period tied to Halo.
Letโs not forget why your balance sheet is clean. Retail.
The window for voluntary alignment is still open.
Should we now award him more stock for Q4 after that chapter?
Iโm already in a group that collectively owns roughly 10% of the float. In a few weeks I will start DMing holders who engage with this post. We are preparing to force a special shareholder meeting focused on current executive leadership and alignment.
If you are a $SRXH holder and want to be part of that conversation, like this post so I can reach you.
Board:
โข Michael Young
โข Simon Conway
โข @SammyDorf
โข Joshua A. Epstein
cc: @ericjackson
Many of us believe the person best positioned to lead this platform is already here.
Skin in the game matters. Retail already put theirs in. Now itโs the Boardโs turn.
$SRXH : we want insider buys! ๐ต๐
Iโll post a 1 share+ daily buy until everyone below has purchased. ๐ซก
Kent Cunningham
@ericjackson โ
Nina Martinez
Michael Young
@SammyDorf
Simon Conway
Joshua Epstein
Show conviction & alignment to the EMJX RM. ๐ค
Credit @MrAlwaysRugged
I rarely talk about stocks on X. When I do, there is usually a reason. The reason for this post is to share my thoughts on the highly controversial recent reverse merger of $SRXH.
In short, a collapsing share price does not automatically mean malicious intent. I do not believe that is the SRXH story.
I like and highly respect @ericjackson. I don't know this to be a fact, but I believe he is in an extraordinarily difficult position: the public face of SRXH absorbing the criticism, yet not the CEO, not on the board and apparently holding authority only at EJMX, the platform in which he founded and is now tucked into SRXH.
That matters.
The deal clearly changed dramatically from what investors expected back in the Fall. Poor decisions and disastrous communication followed.
Shareholders have every right to be furious. I am. But anger does not change the math.
SRXH trades far below stated NAV of $3.07/share. The company reported roughly $40M in cash, $15M in short term investments and no debt. Todayโs 8K appears to complete the previously announced Series B financing and adds another $3.47M to the company's cash position - presumably institutional dollars. And a recently announced share repurchase program of up to 50% (10M) shares. If they act on it (they better... I have no idea why they wouldn't), then this becomes an easy 2x without anything changing. Layer in the performance and results that I believe Eric can bring to the company through is platform and it's asymmetrical upside from there.
I am long from much higher prices and have added here.
I am not long because of hopium. I am long because of the reported assets and my belief that Ericโs platform can generate outsized returns.
Now those controlling SRXH must execute, communicate and earn back trust. Perhaps Ericโs too.
Jack Dorsey bought Jay-Z's Tidal for $297M. Everyone knows that number.
The SEC filing says he paid $233M. For 86.8% of a company worth less than half its 2017 price.
16 artists launched it as "owners." The paperwork names exactly 1 of them, and gives him a board seat.
A press release is not a filing. ๐งต