P10 Industries Inc. (PX)

[paideia]

They may be honest, but they don't seem able to see very far ahead down the road and take proactive steps to head things off at the pass.

Three things make me say that:
1. Not having the Braker lease fully locked up well before they completed the Langley deal.
2. Not having lP patents fully appraised and valued before the sale to Langley.
3. Not having the transition to OTC all worked out before and after bankruptcy.

It's pretty clear to me that they have zero experience monetizing IP and NOLs and that with this whole process and everything involved in it, they're learning as they go. My concern now is that they could get taken to the cleaners in a deal for the company's assets because they don't know what they don't know, and they don't seem to be driven to discover what they don't know before it shows up as a problem.