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Alea, it's as if the risk was eliminated once the posters who posed questions that could not be answered, or the correct answers were ones that weren't popular were removed from the discussion.
At the very essence, the very core the questions that were being posed were the ones that went right to root of the problem.
With this company there were no roots of trust. It was roots of rot.
Pseudo one sided due diligence passed muster because..well it fit the fable. This is a crappy ending for a lot of folks.
Hind sight tells us the best time to have sold would have been the window that opened with that bogus INTEL or IBM release 9 or so years ago....
Cartoon..that time is long gone. There is too much uncertainty surrounding this stock and I cannot for the life of me figure out why anyone would pay a premium over and above where the share price is. They haven't proven the product is viable on the market. Any buyer sees the financial shape the company is in-there opinion won't be shaped by the DD types that have snookered so many on the message boards for years.
You have a battered company- with the price and uncertainty they have killed the cash cow that was the PP. Any wavoids going to plow in with both hands now???? That ship has sailed.
Any acquiring company can just bide its time-and that's assuming anybody wants the solution. The market seems non-plussed so I can only assume the market for the bones of the company may be in the same shape.
Looks like a bad call on my part. Short term good sign for longs if you want to cakl it that at these levels. I think the stock found its bottom and will prob stay here until the CC. Without any news that shows revenue we see a fall like yesterday to the .08/.09 area.
New Wave
Single digit price on tap today
There are probably a lot of shareholders hunkered down in the bunker facing a reality they never truly thought was going to come. The bravado of riding it to zero probably seems a lot different when you are really facing the scenario and it doesn't include a margin call. Full well knowing the price is going to be in the single cents area within the next few days.. I honestly don't think you see the announcement made that you saw and then expect to see a contract with $$$$ soon to follow.
Consider that they were a hanger on of the first tech bubble. Now consider what companies that emerged in this new technological era in all aspects from social to commerce that many here missed because of the tunnel vision and the constant reinforcement of what was going to happen when the rocket fuel came to burn the shorts. It is as if there was never any realization that numbers matter, it was as if they were just going to appear. I almost had to laugh when I saw a post talking down the revenue number with the new employee count to 1.8M or something like that. With logic like that why not just cut back to three employees and make it 250K?
In spite of this I cannot get my arms around how many people did or were considering pulling the trigger on adding or even doubling their holdings. And the only tangible reason was the share price.
There is an old adage "I am too poor to buy cheap" that really applies here.
Lets deal in some reality shall we? By this announcement coming yesterday we can assume the quarter was not good. We can also assume that the third quarter was as bad or worse as we are almost through a third of that quarter. If there was carry over cash from the last PP and they had orders expecting to close in Q3 I don't understand the need to do this just as the orders are ramping up.
On thing that always amazed me in my time watching this company was the sheer disconnect between the shareholders and their thirst for owning shares and the performance of the company and what they expected.
There are holders who control a huge amount of shares, far more than some institutions and certainly in control of far more than any salaried person inside the company.
I never understood the need to continue to buy given the uncertainty and given the expected outcome predicted by most shareholders-although not in the recent past.
If the company was to do what was predicted I often suspected a core position of 25,000 shares would have provided a nice return while also allowing the company to become established and entrenched which would have warranted acquiring more shares buying on the dips.
To me the larger positions were not warranted, even though some wanted to rebuild positions, the RS signaled a huge warning flag and the risk too great.
It's quite apparent the pull of the story and greed were given far greater credence that what was actually transpiring financially. Numbers matter. Feel good stories and feel good pro shareholder boards not so much.
When you couple the fall guy with that, and have it perpetuated by voices that over time become trusted, it made it very easy to manipulate a large contingent with deep pockets who questioned nary a thing.
I agree with any poster who says they won't avoid delisting. They cannot comply with either price or market cap. Downsizing is not a plan if they cannot show sales. You don't down size if you have sales coming in in the next month if you have enough cash to sustain until they close. Bottom line is cash is running out and no deals are imminent.
The only support at these levels will be those chasing the price down trying to flip for a quick few pennies. There still has to be a ton of shares still being held from the last few placements. i don't buy those were the only shares being moved..there were still some institutional holdings who probably had enough. Now we have some selling due to where the price is for some of these. This is going to be a Niagra Falls type drop going forward until the true bottom in the low single digits is hit.
Probably lots of volume at beginning and end of sessions going forward.
I still don't get why anybody is seeing a double digit (.00) buyout price. The products are not proven. They do not have a market share that can even be measured. That screams pennies at best. You have a company that is in a free fall and is at the most vulnerable that I have seen since I have been around since 2000. There is no reason for a company to move in because of the above factors. They can wait and garbage pick off the curb when its over.
The longs are going to be eviscerated.
That was an easy call...The support for the stock is going to be gone as some long timers see the writing on the wall in spite of what some longs have been writing. Lest shareholders forget some of the most positive have also been privy to taking place in some of the offerings over the years.
None of what I read as making this a good move makes sense to me especially if there is problems with the initial roll out across a company in many different areas if the world. Especially if there is under 60 employees knowing all of those employees wouldn't be all involved with certain product. This plain and simple looks like a tidying up for a takeover. I saw a question about buy out and shareholders having a say. Don't folks remember how the shares are set up and how there are shares that carry more voting power than our shares? Spragues set this up to do what they needed to do.
If there is a Sprague pulling a check after these cuts this is lip servicr and the final insult to anybody holding shares for over 10 years
On the whole the shareholders were never treated in an above board manner. Imo a cut above a confidence game. How crazy some faceless posters on a message board were the ones cast as harming the stock
Would not be surprised to see 50% of the share price disappear at some point tomorrow and over 10 million shares traded
Probably between .03 to.05 a share. Think about it..how much of this crummy share price was support knowing longs would be snapping up shares? Turn and burn...thats going to be gone now. Longs are left holding the bag.
Not nearly as much as the shareholders believe. No sales. No demand. Nobody is going to over pay for an if come.
Creating pennyaires for over two decades..
The speculation by anyone that has leaned towards the pro wave/positive slant should be viewed as suspect at best. There is a track record, that while many have tried to dismiss, remains a very good indicator to the contrary. Minimal instances of something positive for the induvidual investor as it concerns this company that didn't need the crutch of something else.
Public healthcare companies often question the best course of action during quiet periods — those stretches of time during which they should limit their interaction with Wall Street due to their knowledge of material and timely information that has not yet been disclosed. Specifically, management teams struggle to figure out what the quiet period means for their investor relations (IR). Should they bring to a halt all communications with the investment community or have limited interaction? Should they answer only fact-based (or historical) questions or avoid inquiries altogether?
While the formal quiet period regulated by the Securities and Exchange Commission (SEC) comes with clear guidelines and regulations, informal quiet periods are far less defined, and variation exists in how much (or little) a company communicates with investors and analysts.
How can companies determine the right approach? Here, I give you some basic information about quiet periods — and share strategies to help you figure out the best quiet period policy for your organization.
What is a quiet period?
Essentially, there are two kinds of quiet periods for publicly traded companies. The first surrounds a company’s initial public offering (IPO) and is heavily regulated by the SEC, while the second is more loosely defined, and refers to the period of time in which a company limits its interaction with investors and analysts immediately preceding or following the quarter-end, but before results are actually released.
Why do quiet periods exist?
The purpose of a quiet period is for a public company to avoid making any comments about information that could cause investors to change their position on the company’s stock.
IPO quiet periods were created by the SEC to prohibit analysts who are lead and co-lead underwriters from issuing positive research reports that might influence security prices during the first few weeks of a new IPO. In addition, quiet periods exist to protect companies from inadvertently violating Regulation Fair Disclosure (Reg FD) during the sensitive time in which they are aware of their quarterly financial results (or any material, non-public information), but have not yet publicly communicated this information.
When is the unofficial, quarterly quiet period, and how long does it last?
There isn’t a standard length of time for unofficial quiet periods. These quarterly periods end, of course, with the earnings conference call and/or press release, but it’s up to each company to determine when they begin. Constructing the optimal quiet period will vary, depending on how quickly earnings are determined and how experienced executives are with analyst and investor interactions.
How do companies maintain shareholder communications during a quiet period?
The communications policy a company adopts helps frame how they communicate with the investment community and Wall Street. Some companies may still wish to communicate by simply avoiding off-limit topics, such as quarterly results, and sticking with fact-based responses. Other companies may comment on topics that have already been publicly disclosed, and still others may elect a period of time in which they go radio-silent. It really depends on the company comfort level and view of its stakeholders within the company.
How can companies navigate investor calls, conference participation, and tradeshows around quiet periods?
Depending on the communications policy a company adopts, the level of communication at conferences and tradeshows will range widely. Some companies choose to eliminate participation in conferences, meetings, or investor phone calls during that period, while others agree to go to conferences but not attend one-on-one meetings – with the caveat that all communications are webcast to be Reg FD compliant. In other cases, some companies may pre-release quarterly results or confirm/update guidance with a press release in parallel with their conference participation.
Regardless of the communications plan a company takes, the most important part is for a company to outline its policy, adhere to it, and be consistent.
What is standard practice, and what is recommended?
As we’ve discussed, company disclosure policies in a quiet period depend on a number of factors. What practices are the most common? Typically, a company will opt to do one of the following:
Provide no formal or informal communications at all
Provide limited communication and interaction with Wall Street by primarily:
Answering only fact-based inquiries
Imparting information only on overall long-term business and market trends
Make an announcement if it expects results to differ materially from earlier forecasts, and answer questions about information already made public
In the interest of fairness and to mitigate the risk of inadvertent disclosures of material information, the policy should reflect a company’s comfort level with the amount of disclosure it wants to provide Wall Street and the investment community. It is important to strike a balance. For example, going completely silent may not be in the best interest of small-cap companies that are thinly covered, or even for some larger companies.
If a company chooses to take investor and analyst calls during their quiet period, it needs to be clear and consistent in communicating the topics that are on and off limits. It is also important that all designated spokespersons adopt the policy and remain consistent quarter-over-quarter.
Quiet Period.........................
Quiet Period
The federal securities laws do not define the term "quiet period," which is also referred to as the "waiting period." However, a quiet period extends from the time a company files a registration statement with the SEC until SEC staff declare the registration statement "effective." During that period, the federal securities laws limit what information a company and related parties can release to the public. The failure to comply with these restrictions generally is referred to as “gun-jumping.”
On June 29, 2005, the Commission voted to adopt modifications to the registration, communications, and offering processes under the Securities Act of 1933. Among many other provisions, the rules update and liberalize permitted offering activity and communications to allow more information to reach investors by revising the "gun-jumping" provisions under the Securities Act. The cumulative effects of these rules are as follows:
Well-known seasoned issuers are permitted to engage at any time in oral and written communications, including use at any time of a new type of written communication called a "free writing prospectus," subject to enumerated conditions (including, in some cases, filing with the Commission).
All reporting issuers are, at any time, permitted to continue to publish regularly released factual business information and forward-looking information.
Non-reporting issuers are, at any time, permitted to continue to publish factual business information that is regularly released and intended for use by persons other than in their capacity as investors or potential investors.
Communications by issuers more than 30 days before filing a registration statement will be permitted so long as they do not reference a securities offering that is the subject of a registration statement.
All issuers and other offering participants will be permitted to use a free writing prospectus after the filing of the registration statement, subject to enumerated conditions (including, in some cases, filing with the Commission). Offering participants, other than the issuer, will be liable for a free writing prospectus only if they use, refer to, or participate in the planning and use of the free writing prospectus by another offering participant who uses it. Issuers will have liability for any issuer information contained in any other offering participant's free writing prospectus as well as any free writing prospectus they prepare, use, or refer to.
The exclusions from the definition of prospectus are expanded to allow a broader category of routine communications regarding issuers, offerings, and procedural matters, such as communications about the schedule for an offering or about account-opening procedures.
The exemptions for research reports are expanded.
A number of these rules include conditions of eligibility. Most of the rules, for example, are not available to blank check companies, penny stock issuers, or shell companies.
The rules address the treatment under the Securities Act of electronic communications, including electronic road shows and information located on or hyperlinked to an issuer's website. The rules define written communication as any communication that is written, printed, a radio or television broadcast, or a graphic communication. The definition of graphic communication and, thus, electronic road show excludes communications that are carried live and in real-time to a live audience, regardless of the means of transmission. Electronic road shows for initial public offerings of common equity or convertible equity securities will have to make a bona fide electronic road show readily available to an unrestricted audience to avoid filing the electronic road show with the Commission. No other road shows will be subject to filing.
The effective date of the rules was December 1, 2005. For more information, please see Release No. 33-8591 — Securities Offering Reform.
In the not so distant past, a post like yours would have been savaged. What is being said here is a variation on the theme of the past and it has been more spot on than all the DD as it pertained to the fortunes of those with the most at stake in the company. The one blind spot that refuses to go away is this blind acceptance that the products are wonderful. I don't know, but I do know they have never sold in any amount to be christened as such... and that carries far more weight than any aliased message board poster.
Its the story man..been here a long time..what you might not realize is that it only seems like now. That's a shame you feel some of us should not be posting on a public forum. A lot of the posters had a different viewpoint from others and were given a vacation for quite a few years because of that from this board. And the reason it looked one sided was because some of the posters were freebies and could only respond to the private attack messages publically..so it gave the appearance of being a one sided gang up.
The lower end of the .20's already...Here I thought we wouldn't see this til next week. This could easily be trading in the mid teens by weeks end and single digits once the nas answer date passes.
I would hate like hell to be sitting on a pile of shares right now have to really...really.. face what is coming after having convinced yourself it was possible but you didn't actually think it could happen.
Harsh reality has a way of showing you what has really gone on in spite of what you may have led yourself to believe.
Blue I almost expect that sort of talk from the company as SOP. This sort of thing was done in a very public sort of way. It's the nod and a wink crap that was passed through certain shareholders to get the masses in a froth..the bubbling under that you can't see yet, but just wait.
This sort of thing that you mention sort of reveals itself as BS as the time moves forward. The other was a weapon that was used to seduce some longs for years and that's what stopped.
Where was this outrage after the flow of deals stopped? When DELL ran for the exits? When the second reverse split came around?
The stock is a wounded animal right now gasping with no hope of being rescued.
The only difference between what is going on now and what was happening in the past is that fabrications of enormous preportions were being floated to the shareholder base then.
That flow of information has ceased under Solms.
That is the only difference. Where was the company without the DELL revenue? Are the deals that were made, done without DELL on board? Did having DELL on board give the company a sense of legitimacy they don't have right now?
Good for you Cartoon...........Many of us have said for years that given the history of this stock that there would be opportunity to re-establish a position if the measurable action of the company warranted it. There was probably one time in the last handful of years and that was when Sprague was sacked. Even that seems to be a mirage at this point.
On the bright side .30 looks better than .025...guess there was a silver lining to all that dillution.
This company and shareholders are not charity cases. The price paid will be no better than fire sale,if at all. It's not a stretch to say the price the shares have traded over the last few days may be the best this group of shareholders may see.
How low in the teens will this stock be trading by Labor Day or wil it be single cents by then?
The question that matters now is how bad is the reverse split going to be....double digits imo
I was a day early....The selloff on this volume..not good. We could see .20's by the weekend and if their is silence over the weekend if that happens beginning of week could be really bad.
Not looking real good right now.....
I feel a close under .40 coming today...
The number of shares and warrants offered in the last four years is staggering..and when you consider a split also took place in that time frame. Those same folks that bought at 30 pre split are the same ones buying up til now.
Time line of terror
June of 2011 they file a 30M shelf that in release says should give them access to capital over next 3 years includes 4,038,269 warrants
10K delayed March of 2012
8/12 2,587,824 shares sold 1,293,912 warrants
10/12 3,324,750 shares sold 1,662,375 warrants
3/13 1,204,820 shares sold 602,410 warrants
4/13 6,340,000 shares sold 3,170,000 warrants
7/13 1 for 4 RS
7/13 naz compliance regained
7/13 1,204,470 shares sold
8/13 another shelf register barely 2 years after shelf that was supposed to last 3 years per company release
12/13 1,253,351 shares sold 626,674 warrants
6/14 5,225,560 shares sold 2,090,224 warrants
11/14 15M shelf filed
1/15 5,513,044 shares sold 2,205,216 warrants
5/15 7,300,000 shares sold warrants to purche 3,650,000 and a 30 day option to purchase another 1,095,000
you had 13.458 shares added to the float and warrant of 6.729M added before the RS
and after its 20.496M with varies warrants and options for another 9.667 M
The new money coming in ain't hanging on like the old shareholders. The majority of these shares are in the same hands as they were 15 years ago.
Don't think so....
Since April 1st 2012 the stock has had 56 trading days over 1.50, 7 of those over 2.00. That includes the time frame of the 1 for 4 reverse split.