I was going to add before I got pulled away, and my PM'er is exactly spot on is the grievance the shareholders have concerning the misreported money from DELL after DELL was already gone.
This is just another verification to me that those who questioned everything were the ones on to something.
The first mover advantage is the balsa wood found by the drowning man in the ocean after 25 hours. There is nothing to support the first mover advantage other than the words of other posters and those who I would never entrust any of my money to.
If this were true- the company would still be viable the company would have been bought out or the product would have been used by some of the companies who knew them best and those were the companies that comprised the TCG. None of this came close to happening.
That to me was one of the clearest signs the company was in trouble. They could not convert some of those members into clients. We were told they were high in the food chain of that group. If that were the case the forecast for the environment from they operated in and the path going forward should have been much clear and easier to forecast. Neither of those ever materialized. They continued on the path of obfuscation and letting the trusted shareholder base spell it out to the rank and file. The rejection of DELL was considered a small bump by the sprgue-taint tattoo crowd.
Those who worked in the industry that tried commenting here on the boards to report the feedback-which was often not good- were cast aside as having an agenda or an axe to grind....Let's be honest here, who REALLY had the agenda. Even if that agenda was not nefarious it biased a whole group of investors to a narrative that never was. Those who ran the company were rewarded handsomely, relative to what? Any argument one can make defending these me first, share holders eat cake folks cannot defend the fact that they were never upfront in their words to the shareholders.
I don't believe the risk to the shareholders capital time and time again was never explained to the extent that it really should have been when the voice of those within the company was heard. That was left buried in the lexicon of the SEC filings. They did however take every opportunity to talk about the opportunity and the reward for that opportunity which never came and excused every misstep they could by misdirecting it away from what was going on inside the company. The company was in deep financial trouble when Sprague was ousted and yet he was determined to get every last cent that he was owed. Even though he had it rigged so he received a bonus regardless of how the company performed. Even though given the the size and sales of the company he was compensated far greater than what the going rate was for a company doing those same sort of numbers. At the end of the day, there was no warning to those who supported the company so long through so much of his utter bullshit, deals in hand, floods, the over payment that was caught....and he offered nothing to the shareholders but a final fuck you as he collected what was owed him. And it isn't over because I think I saw his name lined up as a creditor in the lawsuit. He was paid handsomely for years and still felt he was owed something. The shareholders who ponied up for the entire existence of this company who piled more money than they could afford were never given the same opportunity. Three reverse splits which damaged their shareholder value. While Sprague can count his w-2's and compensation over the years that ran cumulatively with 8 digits and 2 commas, one will not be able to count the number of shareholders that will never and I repeat NEVER EVER get the chance to even write off the total value of their losses in their remaining lifetime.
