We have gathered some information from a firm Lloyd Spencer worked for brfore coroware AND from two upset previous employees who are big time upset abou what people do not know. here is real information about how experienced Weisel and his team are and the lengths the guy goes to to protect share sholders investments.
there never was officially a coroware jaus test lab in pittsburg. Only a couple of disgruntled employees that are now gone or reassigned
before weisel met spenser he had a federal law suit filed against him that weisel got him out ofafter the acquisitio and then transfered over $700,000 fom innova's cash to coroware to keep coroware afloat and in bsiness. It was terribly mismanaged. One employee no longer with the company said weisel chose coroware over his company he founded (RWT)and because he believed coroware through ms could survive he transfered funds to cw and because of the lack of cash necessary to grow rwt it suffered greatly from the capital it needed to grow even though they book, built installed and satisfied a second NASA order during the 2+ years in federal court with the tiney ABB of 50 billion or so. He prevailed to a settlement hich we still unable to find out what ab got for their 3 mm.
while we were watching on the side lines with no posts we witnessed spin and others make their own estimates about what the lawsuit would be worth and drove the price up on their own. The power of spin, the moderator who should be a moderator not a spin doctor and negative moderator on anything,anything said plus or even suggesting to be positive and spin and scott feed on each others dirt.
we also think coroware is a winner but remember the management team with weisel at the front is not the enemy. and what happened to all the comments about vandeberg and his 70+ acquisitions before joining weisel as a hand picked guy to coordinate the external growth plan. oh yes they reported profitable operations within months after he joined weisel but it didn't seem to matter on this board nor did the moderator moderat, just a lone negative source for anything said or posted about our investments.
a couple of our sources who now are willing to candidly talk say weisel put vandenberg in charge of spencer coroware within weeks of coming on board to control the huge outgoing cash and get coroware under control. weisel made him coo and cfo and it went unnotied on this board. why spin? because you were to busy with others trashing every move weisel and this company made and is still making.
remember our chairman and ceo ran a nasdaq company for about 14 years after taking it public after a 10:1 split and it came to the market at $10 then went to $29. once he chose to leave the company it immediately beg\came clear it was slipping and struggled without him and eventually failed went to $1 then was delieted and failed.
We were reluctant to let this data out. some of the details were rumored but the lawsuit and jaus part plus the extraordinary move to save coroware comes from reliable quiet sources that were insiders, bitter ones at that. we will guard those sources carefully. we were encouraged to post this as facts.
the message is spin and scott and others, before you take on some move here to hurt the best resorce you have inside, the curreny mangemant at the top, think carefully and don't start something worse and erreconsilable like shareholder letters, proxy things you don't fully understand and the likes of disrupting a fast moving company with grossly undervalued stock, and misled investors watching and disappointed with the garbage on your board. trust us, your chat board is watched by more than you can imagine and being a responsible moderator requires more than attacks, character assaciations and slandering of newly announced management that weisel has the experience to chose.
We will NOT post for a long time but will watch with a due dilegence professionalism. thank you for this opportunity. perhaps we can all watch this company take off.
