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I do believe that if the FBI raided IWEB's office and took their computers, some people would claim that it was great because now the FBI could see how wonderfull IWEB's product was, and they would become a customer. Then someone else would project that they will sell $20m a year to the FBI.
Today's PR should come as a surprise to no one. If they'd have had good news we'd have heard it. They simply had to say something so they did, but w/o really saying anything.
The pps has been propped up by hype and lies.
Look how effective the merger scheme was. Not only did they con people, for almost a year, into believing they were going to buy a company 10 times their size, but they kept the illusion going so long that it actually sounded positive when they finally admitted there wasn't a merger.
John's death has blown the smoke away. Yes they have a product, yes the will sell it, and yes, maybe some day they maybe they'll make a profit. (I should live so long , and get my money back)
What is different now is how they raise money. It will be harder and the dillution will be much greater.
Remember "surging sales", well now it's called a "strategic shift in focus ....to sales & marketing" and they'll be selling stock into the open market at single digits, but life goes on.
As I think about it, they may have been talking about the calendar year, so who knows?
There is no quiet period associated with a 506 placement!
I don't think anyone needs to wait until the end of the q to realize that it will not be good.
If the was anything good to say, we'd have heard it by now. Does anyone recall IWEB being bashfull? They brag about their product but won't announce record sales, does anyone believe that?
What's the difference between a cc and a PR?
In a PR, company doesn't need to answer questions. Why do you think the last cc was skipped?
If you really believe that sales in the 4th fisical q of the year 2012 will be $3m, that certainly is your right.
You can expect no less than 3 or 4 "I told you so"s from me.
"This past qtr will evidently be less than it could have been due to IWEB losing their CEO unexpectedly.
But, with product completely ready for market, I do believe they could turn on a dime and produce a 3M qtr...yes."
Now you're copnfusing me. Are you now saying that you believed the last q of fisical 2012 will be $3m?
"Are we choosing to ignore what the company said about G&A expenses in their last Q?"
I really appreciated your answer to my question, but no, I'm not ignoring what the compnay said. If anything, I'm simply taking them at their word. I really don't understand why you'd even bring that up.
They said:
"We anticipate that general and administrative expenses will remain stable for the balance of fiscal 2012."
I'm taling about when sales reach $2.5m, do you really think that will happen this q, the last q of fiscal 2012?
"The "other expenses" in the last Q kicked their ass to the tune of 830K. So, if somehow they have managed to eliminate this,"
I agree that the $330 derivative liability is fictious, but the remain $1.55m are real and not likely to be magically be eliminated.
In fact, like I said earlier, if sales increase 250%, expect expenses to increase also.
This company leaves many questions unanswered.
Nice first post, sorry for your losses, both personal and financial.
Unlike you I own only a few shares, so some may think that what I say isn't important, and maybe it isn't, but there is also none of the bias that sometimes comes with being too deely into a stock either. I was dollar cost averaging into this stock, but too many red flags caused me to pull the plug.
I don't see how you, or anyone can seriously believe that $2.5m will put them positive. $2.5M will yield a gross profit of about $800k, their expenses last q were almost $2m. That is well over twice their gross profit, leaving them with a loss of over $1m.
Some will argue that certain expenses will go down, which they may, but if sales go up 250%, most expenses will go up too, including factoring and GS&A.
I agree that they lost sales with the death of John, one of the red flags, but I expect the bulk of it to be felt in this q since his death occurred late in last q.
I also feel that it's unlikely that the past q will be over $1, if it was I think they could have PR'd it as a positive,
Yes time will tell, but it is not on our side.
How much will the Infian and Rackspace partnerships add to this q's revenue?
Great post blob, but you may have missed a few things,
(1) Would you really call not announcing a merger that didn't happen or reiterating a profitable q, when it wasn't, as being EXTREMELY CONSERVATIIVE? Shouldn't that be called basic honesty?
(2) Except they failed to mention that expenses grew nearly at the same rate as sales!
(3) "...TO YIELD UNPRECEDENTED TOPLINE AND BOTTOM LINE FINANCIAL GROWTH IN THE NEAR TERM.." So much for EXTREMELY CONSERVATIIVE proections, lol!
(4) As the new CEO, did anyone really except him to say "We're broke but in a attempt to make the company good, we're going to buy a few shares."?
(5) I'm 100% certain the sky will be here next year, but I can't say the same thing about IWEB.
No, it's just you.
Didn't they also announce a merger?
Now who's reading between the lines, lol?
The secret about the bad last q.
I think that by now everyone understands that had the last q been good, or even respectable, IWEB would've had a preliminary release. They didn't.
That certainly is one opinion, but look, they're a "relations" firm, they're not going to make their client look bad even after they quit.
Yes, that is reading between the lines but that appears to be the only way to view IWEB with any real perspective.
It like a submarine under attack, they're rigged for silent running.
After the IR firm quit, they must not have kept the secret very well. They should have had a gag clause in their contract.
The next placement won't be pretty.
Yes, obviously the right team, at the right time, lol.
I guess when the IR firms quits, things really are in the tank. looks like the q results may have leaked out.
Thanks for the reply.
I'm not sure what motivated Carosi's weird trading, but I'm pretty sure the answer isn't black is white or any insider buy on the open market is one hundred percent and unequivocally bullish.
I hope others also saw it as a sign of weakness and saved a few bucks.
You raise a very, very good question, but I think the question should be ask of Carosi, Compton, and Lucky, especially Carosi.
As I understand it, he recently purchased 1m shares at 16.5 cents, or a total of $165k, on the open market.
That confounmds me.
If he were really high on IWEB, like some of the posters here who see sales shooting to $3m/q and profitabilty in a few q's, why didn't he just take part in the last or even the past 12 cent placement?
For the same money, he'd now have 1.375m shares plus 1.375m warrants.
Granted, the shares are not registered, but they will be in 6 to 12 months. That's when we're told IWEB will really take off. Also his money would have went into IWEB's coffers to help pay for the great new products.
As it is, all he did was buy some shares from those who bought at less and then flipped them.
What was his reasoning?
In the dire finacial straights that they find themselves, it would be almost criminal not to release news of a good q just ended.
The top notch tean we have inplace is cettainly aware of this, suggesting that there is no good news to be released.
jmo
thanks
No disrespect intended, but there is no need to guess. From the most recent 10q, as of 3/31/12, for 2012 so far, and 2011.
"1,000,000,000 shares authorized; 166,202,487 shares issued and 166,039,987 shares outstanding and 157,959,066 shares issued and 134,443,725 shares outstanding, respectively)"
Also I'ver read everything back for as far as I can find, I see nothing where IWEB says expenses will remain static, do you have a link?
Bravo!
I can't find any reference to the last few conference calls. Can anyone help me out?
Sorry it took so long, just busy. I'm new to IWEB and wish to know more. I know my post may be deleted but I'm looking for discussion both in support and against my thoughts.
I'm guessing that when jbbb said "leave all other percentages the same", he really meant leave all the other numbers the same.
His methodology is flawed because it let's the entire revenue increase of 1.5 million flow through to the bottom line.
A review of the last 6 quarters shows that for every dollar they make they spend 65¢ for raw goods. That may change over time, but right now it means only about 1/2 million should flow through.
There are some expenses that aren't real and that helps offset the reduction in flow through revenue.
I cost average into stock so I don't have much at risk yet. I like to know exactly what I'm buying and I can't understand how they got to the 1/2 million interest figure. Anyone know?
jbbb,
No disrespect intended, but your methodology is badly flawed.