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What about the share buyback?
What about the last time they said they would post financials?
What is the firm date we can expect the latest promised financials?
Also Devin Standard has a new job as of a while ago, check Linkedin. Of course it would be nice for Yaacov to address this.
Why can't he provide public answers.
Also with his stated distaste for shareholders looking for more information, not sure that I would want to be Facebook friends with him.
It is all intentional misdirection in my opinion. Did we say retail, whoa look over here at France. Did we say financials, lets pump up some random rumor about some big deal.
Did we say we will remove CE quickly, hey it was the investors fault not ours.
Fadi, enough already, please.
Emily unfortunately I was not being sarcastic. You have said time and time again your thoughts on Yaacov, but you are clearly a huge supporter of Identa in the face of overwhelming negative information about the company (in my opinion). He must love this, someone who does not like him yet proudly supports his company.
You also did not comment on the potential evidence that he is funding this company and his lifestyle solely by selling stock in his firm. This is my money and your money, in my opinion.
Yacoov must love you.
Emily
We don't know what they are doing with their the shares now do we? Might they be trading them for office space, website work etc? Might they be selling them to individuals via a private placement?
We don't know. They won't tell us.
I find it hard to believe a company with 200K in revenue is profitable with the expenses they must incur from salaries, travel, manufacturing etc. If they are not profitable, how are they funding their operation?
How do you know the product is good? You would think that if they had a solid explosive ID product it would have been selling like hotcakes that last 8 years.
I know you are confident in the company, I just can't be.
No one doubts they have products. I doubt how good the products are and what the market potential is for these products. With all the distributors in place you would think they could muster up more then 200k in revenue if the products/markets were good right?
And it is easy to see how they have stayed in business for the last 8 years. Check out their A/S and how it has grown. In my opinion they are funding this thing completely on the back of the investor as there is no way they could be in business with jacking up the A/S every year or so.
All we want are answers, all we are left with are questions.
What about a comment like this from Emily:
I hear a big deal was made and the PPS should fly soon
Might want to recheck your legal info there wolfer.
In the United States and many other jurisdictions, however, "insiders" are not just limited to corporate officials and major shareholders where illegal insider trading is concerned, but can include any individual who trades shares based on material non-public information in violation of some duty of trust.
Are you suggesting that you have been made aware of a significant transaction that involves this company that is not yet public information?
How do you know their product is good? If they had a great product don't you think they could have done more then 200K in revenue through all partnerships they have had? This 200K is down from 500K in 2008. Is that a positive trend?
I don't get how people can be positive about this.
If you compare past PRs to recent ones they raise obvious questions about this company - retail, france, reporting these are all old stories being rehashed it looks like.
This is where the market is headed I think.
I was watching the news last night and saw a few of our local police departments are testing this device from Thermo Fisher. I think this is where the homeland security, police and military markets are going.
http://www.ahurascientific.com/narcotics-identification/products/trunarc/index.php
I have never thought there was much of a retail market for these products anyway, as if you think your kid is doing drugs you can buy a cheap hair follicle test. I doubt if someone finds a baggie filled with something that looks and smells like marijuana, they are going to run down to CVS to buy a test.
Worst PR in a long time in my opinion. Can't even mention the name of the new company or failed past efforts.
Is this statement even true:
IDenta's drug detectors are the only products (detectors) able to be marketed and sold to the retail - consumer markets due to their special and unique features.
The biggest hurdle is lack of sales. 8 years with the same product line and only 200K in sales? Why would you think that would get better?
If we ever see audited financials my guess is that we are going to see a company that is losing lots and lots of money. Sure getting rid of CE might help a bit, but in the end you are going to have a company with zero profits, in my opinion.
Emily -
Are you seriously contemplating believing anything he has to say? Has he been right one time?
He always makes it seem like he is getting inside information, but is he or is he being given this information for another purpose?
Has he been right about one thing yet?
I would say that would be the dumbest decision I have ever heard of. What could possibly of happened to make you think that this is a good investment at this time?
If the sales figures are accurate this company could be way over valued already. There appears to be a problem with the product (either it is not up to competitive standards or the market opportunity is minuscule).
My opinion is that your money is better spent elsewhere.
Lets rip this bit of pumper crap together piece by piece:
"Last summer Mr. Shoham said he had mistakenly promised quarterly financials and would not be giving them."
Huh? There has been no statement to this effect. If you have an email from him, please post it. He has made no credible statement that this was a mistake.
"Still, he did at the time promise year end financials, and he came through, even though it was painful."
He promised quarterly financials. What he posted was just a revenue number, there are no financials. Financials = balance sheet, Financials = income statement, Financials do not equal a number in a press release.
"I hope this signals a new era of "shut up until you can put up""
He has not done anything. He has PR'd more of his intentions. This is the same as before.
"The product is very good."
If the product was good don't you think they would be selling more then 200K a year after 8 years of promotion? The product either is not as good as competitors or the market opportunity is much smaller.
"Now, reinstatement along with 6 months to a year of releasing only FACTS, and following up on all contingent statements, and this thing could be very different."
How do you know these are facts? Who said they were getting re-instatement? This is more of the same.
I am not certain of anything. We know few facts about what is going on here. One thing we know for certain is that OTC moved them to Caveat Emptor. Until I hear otherwise I assume OTC is the one pulling the strings. I would love the SEC to do an investigation here.
I believe this company will do everything it can to cover up what is actually going on, but I think it is too late. If they are going to keep living off the shareholders they need to unload 2B shares and to do this they need to provide more transparency.
As you know this company has a history of broken promises and vague information. The revenue number is the first time they have ever posted anything bad about themselves (and how terrible is 200K in revenue?).
Just my opinions.
OTC requires no more then 90 days after the end of the year. So Identa has created for itself yet another firm date they can miss or not. If not provided by April 1st (April fools day by the way), then we can chalk this up with the last reporting notification and the retail opportunity - both firm dates set by Identa, both missed.
I actually suspect true financials would only negatively impact the share price. 8.5 billion in shares and only 200k in revenue. Even if you assume they only have two employees the salaries will likely be more then 200K. Then you factor in travel, cost to create the goods, legal fees, marketing etc etc and this thing could we way, way, way unprofitable.
With 8 years of pushing this product I don't see how they will ever turn a profit.
BTW I see Devin Standard who was PR'd as a new rep has a new job at a different company since July. I suspect he is not helping Identa anymore.
Don't get me wrong here. I hate Identa and I think they have intentionally mislead investors numerous times of the course of the last 8 years (my opinion of course).
I speculate here but I think they are finally under the gun of some regulatory body that is forcing them to provide more transparency then they have historically. If they don't comply then they can't continue to peddle shares to fund their salaries/lifestyle.
The only reason I believe this is that the sales numbers suck and not just a little. In my opinion this company is a scam and even in my wildest dreams I never would have put revenue this low.
They constantly hide behind forward looking statements, new distributors and the fact that they sold 1,000 kits to someone on Mars.
Here we have for the first time in my view an honest statement from the company. They are saying sales of our product suck. Based on what I know of this company and the way they act, they would never actually give concrete information unless they had to.
We shall see.
First off, who would buy/take over this company? I can't imagine anyone would want a company that has been trying to sell the same product for 8 years or whatever and could only generate 200K in revenue. It appears due to the the sales information that the market opportunity for these products is not large and/or the products themselves are not as great as they promote (or a competitor has a better product).
With that being said, I think he is telling the truth this time. I expect to see financials in 2012. I think this is the only way he can remain in business and shake off any SEC/OTC inquiries. He just posted the most dismal sales figures I have seen. He must have known the market would not like the sales figures but he had to do it.
Just my opinions.
If they do post financials, I can't wait to see how many shekels Shoham takes home for pay and how many shares he has. Would be good to see how many he has let go into the market too, but we likely won't see that.
One of the reasons I was always a skeptic on the whole retail chain thing was the cost to support this channel. I have put products in CVS before and the amount of cash they require from a marketing perspective can be quite high. They are not going to carry a product unless they know you will support it from a marketing perspective.
A company that has to jack-up the A/S, supposedly every time they need to fund a new product is going to have a difficult time supporting a chain store placement.
If you look at his history I think you can quickly tell which side Fadi is on.
Fadi
Many people invested in this company based on the promises this company made in their press releases (Current reporting, retail store placement, share buyback). As you know these turned out to be myths and it appears that the company has mislead the investment community.
People invested in this company based on those promises and it is now becoming apparent the CEO is to blame for these misleading reports. This is why people question his intelligence. I actually don't question his intelligence, I question his motives. I believe he is just pumping up his stock and has no intention of following through on any of his promises. In my opinion the company is a joke and I don't believe any press releases that come out.
Joe G.
Why don't they pump it higher then if it is that simple?
I realize I don't understand how this works, but how can a 200 share buy drive this thing up 30%.
First off there is no way you can know (and if you do please share with us) that ownership shares that the management team has. We don't know that the CEO is a majority owner.
How can you forgive them for the mis-information they have posted? I am sure you know this but the retail oppt., the current reporting, the share buyback (which they announced right before putting another billion or so shares on the market) are not mis-steps. None of these things have been addressed by mgmt. Why?