It's been interesting, the past few months.
... interesting, but I haven't seen anything positive.
They did put a positive spin on losing their property. I don't know if all the watchers of this symbol noticed that the 'balance sheet' bit stated, pretty bluntly, that they no longer own the esplanade mansion, which was supposed to be the audio/movie production (post production?) studio.
And they announced a that they were buying 2 other companies.
With what money? Trace that back... ah hah! With more stock! The only thing SAPX has ever sold is stock, so this makes sense. Wait, if they're the new stock holders, then SAPX was actually bought... but that's all semantics, right - just depends on if you say the stocks were bought or if you say the companies were bought...
Two companies that SAPX would have no more luck with than Neuromancer or that rapper (who was that rapper? i've forgotten... it was a joke though).
But it's not only the Hoffmans anymore - there's a new board. So I say "well, I know nothing about these guys" - and that doesn't become a positive, that just becomes a question mark. Can't buy on that.
Will they continue to try to sell shares? Did they buy a stock printing business?
For people hoping to find the bottom, just be wary of this: This symbol hasn't seen a bottom in the years I've been watching. You can't get to the old chart data easily now becasue of NASDAQ delisting and the chart resetting numerous times, but there for years straight it lost 10% per day.... reverse split + new shares created, lose, reverse split + new shares created, lose, repeat, repeat, repeat.
Now they're talking about acquiring another company. And it sounds completely unrelated business type yet again.
Nothing screams "we're not experts at anything" like this behavior.
no message of "we're going to combine X and Y to make Z"... mining equipment, movie/music IP, and i forget the new one... some sort of mobile comm stuff?
Not impressed yet.
The question investors should be asking is, "what did the new investors actually buy, when they bought SAPX?" - it's THAT honest answer that would speak volumes.
I'm also not above speculating that the whole buy/sellout is related to keeping certain people out of jail (if anyone is unawares the previous big news is that there are all sorts of federal investigations going on involving members the previous board). Maybe if they can convince a judge they have since divested their interest in the company/property/tax credits, that would somehow help? I dunno.
All I see is a bunch of glitter being thrown about.
And, still assuming a RS will occur.
