Statement from Agoracom CEO
Gents, let me first state the best part of your letter is the following:
“Agoracom has given me the impetus to begin my career as a commentator/writer and this may be my opportunity to pay you back for this”
I simply love hearing things like this. If I’ve said it once, I’ve said it 1,000 times – AGORACOM is an incredible platform that required great investors to breathe life into it. Very happy to hear that your experience on AGORACOM drove you to the next level. I had heard reference to the site marketcents before but didn’t know you guys were behind it and didn’t visit it until today. Nice set up and great logo.
We appreciate your concerns and support about our OSC “battle”. With respect to your questions / comments about the matter, we wish we could respond directly and in greater detail. Though we can’t, we can provide the following statement:
“Though we regret our current involvement with the OSC, we have been carried by the outpouring of support received from clients, the small-cap industry and investors. Each have gone out of their way to contact us via e-mail, telephone and in person to tell us how much AGORACOM means to them and to pledge their support. As one executive stated via e-mail from Mexico “You are one of the good guys”. The support is indicative of the fact that our track record has built up so much credit in the AGORACOM goodwill account.
Yes, it is unfortunate that some will treat you as guilty before even hearing both sides. As you point out, the shots are primarily being taken by competitors. We are not going to respond to them directly – at this time – as most investors are smart enough to see the obvious conflicts. Rather, we’d like to point out that people should carefully consider the following: Taken out of context, anybody can paint a one-sided picture about people, places and things. For example, I can take a hard-working father and portray him as an absentee parent. Make a hard working student look over ambitious and portray a battle field General as a blood-thirsty killer. Taken out of context, we can paint a one-sided picture out of just about anything. Only a fool or an opportunist makes a decision without hearing both sides.
To this end, we have a lot to say and look forward to any potential hearing with great anticipation. We hope that day doesn’t come and that a sensible resolution will prevail. If that day comes, however, we want our members, clients and partners to be in full attendance. We want you to hear it all. We know that we have not only not done anything illegal, AGORACOM has, in fact, gone above and beyond in its efforts to help both small-cap companies and investors. For more than a decade, small-cap investors and their companies were taken advantage of by brutal online attacks. Until AGORACOM came along, there was no way for companies to defend themselves. No way to put their best foot forward, no way to repel the endless waves of anonymous attacks. Incumbents not only stood by, they actually profited from the situation. Discussion forum sites sold banner ads to the blood baths, while trading sites used the swings to trade to their portfolios’ content. Nobody cared. Everybody took the easy, friction-free route to profits.
AGORACOM changed all of that. We created friction. Against bashers, against predators. We stood up to fight for companies and their shareholders when nobody else would – and we are extremely proud of the fact that small-cap investors and companies joined our platform to create a powerful community, the likes of which had never been seen in the small-cap world. For the first time ever, an online platform, investors and companies banded together to beat back predatory Hedge Funds and mega-cap companies from stealing our companies. We made history together – and that scared some people in the process.
I have every confidence that we will continue to make history together for years to come. Until then, all we ask for is the benefit of the doubt as you uphold our presumption of innocence.
Thanks for the opportunity to contribute to your article.
George Tsiolis, LL.B