Open Letter to the Goldmoney Management Team
Regarding the investments in Lend & Borrow and Mene Inc. How much did Goldmoney invest? What is our ownership stake in these companies? Will the Lend & Borrow concept be rolled out across the Goldmoney platform for all countries? Why did we invest in the company and not just build our own lending platform? With Mene, how will it be integrated into the Goldmoney platform? Why is this relationship good for Goldmoney. I can guess why, but we need to hear it from you.
There was a lot of excitement about the Schiff Gold acquisition. Today, there is no co-branding on the Schiff Gold Website, just a dated video of Peter and Josh. We hardly hear from Peter Schiff. There must be more opportunities that we can leverage from this relationship.
On previous quarterly calls there was talk about strategic partnerships with online e-commerce companies such as Shopify. What ever happened? We talked about a multi-currency credit card, it is still in the works? There was also a lot of talk of opening physical Goldmoney locations in cities such as Toronto, New York and London. Where are we with this project?
I have spoken to many friends who are also Goldmoney shareholders. One of the concerns that is preventing some from buying more shares at the current level is the fear one day we will wake up to hear that Goldmoney is being taken private, preventing us from realizing the long term investment potential of this company. Anybody who has invested over the years in Canadian small caps has experienced the scenario where the share price becomes ridiculously low and the founder decides to take it private. In the end the small shareholders get punished for their patience and loyalty.
Goldmoney is an amazing and exciting company to own. I personally can't wait to see how this all plays out. I'm a patient and loyal follower, but every once in a while we need you to share your vision and provide reassurance.