A Genuine Plea...
If you have not invested a single cent here, please think twice about getting into this one.
The previous CEO was ousted (or maybe left himself) as a result of missing a huge deadline from which we have never recovered. He was a well-regarded exec. who watched and protected the O/S like a hawk and he did quite well in that arena (and thats what everyone here, including me, hung their hat on: a low O/S of less than 200MM shares). Well, he kept a low O/S, but he absolutely FAILED at delivering or being transparent.
Now we have another well-regarded exec. still talking about the same companies (Aderra) and executing his own version of the "next big thing". And so far, he has absolutely destroyed SH value (unless you bought and bought big on the way down) by diluting the heck out of the O/S and raising the A/S. Now, with this new exec., everyone was hanging their hat on the fact that he's a doer and he will get us results, of which he has gotten us very little while more than doubling the O/S. Let me ask those who have been here since .01: who feels richer now that the company is still worth around $1 million?
Now, you may be drawn here for the same reason I was, because these are smart guys who get the industry and can probably carve out a niche for themselves and create value for the SH in the process. You are right up until that last point... As a shareholder of well over a year, I can tell you that this has been one enormous disappointment, and I would advise you to think twice about getting in just to be a part of "where this is headed". Matter of fact, I simply and only ask this of all prospective investors... dig deeper with this company, really do more DD than I did, and look at the timeline of events. Look at youtube for RTGLive, ask yourself if you're impressed with those interviews. Go back to earlier PR's from this year, see if you can find things to still be excited about.
This is the man we are dealing with:
"Experience has now suggested that most digital technology companies are private for very good strategic reasons. These private companies attract huge valuations on a concept and are given the time to develop the product, including everything from minor revisions to wholesale changes. That process is called "pivoting", an accepted practice of making certain the product is market ready. Private companies receive cash injection from venture capital intended to fund the lifecycle of the technology development. Compare this to small tranches of cash infusion subject to the vicissitudes of the trading implicit in the micro-cap markets. "
(January 26, 2012 Release)
Now, if he delivered something, or took some concrete steps towards a finalized date, we'd have something to work with. But this is a guy who is bemoaning the fact his is a public company and has shareholders who have profits on their minds. He does not know how to protect shareholders in my opinion, and it seems from the above, he'd rather not even have them and give himself infinite more time. Again, I'm not saying he won't deliver (who knows if it will even be this year), but will he generate value for you as a shareholder when that delivery occurs? Will you wait while he dilutes more? (its a slippery slope) Ask yourself this.
How in the heck is now a good time for a merger? Why is this the time to open a new office? Where is all this money coming from? Oh wait, thats right, Reggie thinks he has unlimited funds and instead of focusing on pushing out a new service and actually executing, it is more of the same: "we'll get new clients... meetings went well... we're expanding daily" all the while taking on more costly tasks with DECREASING REVENUE. I am furious with myself for hanging onto this investment for as long as I did, don't fall into the same trap I did. I hope this helps someone thinking about this...
AI
