Oxis Biotech, a wholly owned subsidiary of Oxis International Inc., is a company listed on the penny-stock market (SYMBOL) – it is currently trading at a $12 million market valuation and has minimal assets or revenues. It also has significant and rising short-term debt that could easily lead to massive dilution. So, it makes no sense to all of us at Everything-PR why Michael Sitrick of Sitrick & Company one of the world’s leading crisis PR consultants joined the advisory board of this company.
Surely, joining this tiny company won’t make his many big-time clients clamor to him for financial advice. It makes no sense, and is a move which has those in the PR industry who think about it scratch their head. Sitrick is thinking wrongly in our opinion in terms of his brand — and currently, Sitrick is on the advisory board, but is the company ever is successfully listed on the NASDAQ, the advisory board will transition to become the board of directors. Of course, their revenues are about the same as a boutique agency.
Michael Sitrick is the Founder and Chairman of Sitrick and Company, one of the nation’s top crisis management PR firms with offices in New York, Los Angeles, Washington DC, Chicago, and San Francisco. The editor of Los Angeles Magazine said, “Over the past 15 years, the crisis management public relations firm of Sitrick And Company has shaped some of the nation’s most important news stories.”
Sitrick has also advised some of the top pharmaceutical research and development companies including Amgen, Biovail, and Glaxo-Smith-Kline.”
Surely, Amgen and Glaxo-Smith-Kline will clamor again for the advice of a man on the board of this tiny off-the beaten path public company.
Oxis Biotech’s CEO and chairman, Anthony Cataldo said, “Mike Sitrick is not only one of the nation’s leading strategic communications experts. But also has a wealth of experience and knowledge in management, corporate governance, and value creation. His accomplishments and client list speak for themselves. We are excited that he has agreed to join our Business Advisory Board and look forward to his contributions to the company.”
For Oxis it’s a great move – For Michael Sitrick, we think not.