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Investors getting taken for a ride yet again. Looks like some folks took advantage of news to exit amid the momo players and excited shareholders who are interpreting the pr as good news. Indeed if it was rhe news they expected back by the contract or wins they believe. The price would have moved far higher and not have pulled away nearly half of the high. We alwaysvhear about what does one have to lose not knowing anything at under a dime..what about the no brainer those in the know and those folks they know and so on and so.on backing up the truck at .25 yesterday? Today its on sale ... its fools gold all over again.
Seeing this I get a pretty sick feeling in my gut reading the posts. I think the release today is being misinterpreted. This feels like an exit point being exploited while some mistakenly add to positions. Couple of weeks methinks the mood won't be so assured.
There is a lot of really cool important sounding stuff on the publication today. Say you survived a plane crash on a barren dessert island. Hot hot hot...the only thing that survived the crash was the pallets and pallets of food....frozen food. Strip away the loans and the dillution and the company is dead. Those words are hot air without sales to support the company. The rotting now non-frozen food. Too much time spent on what others in the industry should have done. Not enough on the company. Too little too late.
It's easy because with every move in the black there is a group that believes there is news tied to that. That belief makes it very easy for the traders,shorters etc.. to take advantage of. All the have to do is read the boards to see. So very difficult questions are raised about very legitimate problems facing the company and product and the veracity of who brought the question is attacked. Yet the very real problems that were posed are not even addressed, let alone refuted.
Lots of grumbling over RS this week..now we get a spike in the price on nothing ..interesting.....
With this stock on life support I wonder if ol Danny Hakim is going to show up to pen an obituary article..
A miracle to recover a small portion of paper losses still leaves a huge amount of real loss
It was the Sprague years that screwed you guys not the ones Solms oversaw. The Sprague years saw the company when it was able to operate with available cash flow and it squandered all that cash at its disposal. Regardless of what did or did not happen under Solms he took the rudder of something badly damaged. Sprague was given a hundred million dollar gift at the turn of this century and had nothing to show for it
I see the 500M figure tossed around like it was all spent on r and. A lot of that money was wasted pure and simple. How.many trade shows the last twenty years. Severance pay, bonus , salary. Paid coverage..paid award shows. Electric car advertising. C'mon man. The real figure sunk into developement is far less than that
I beg to differ..nobody outside of the shareholders is buying. The price moves on other people moving into a position. There is zero reason for any new money to be here. There is zero reason for anybody holding to be buying more. When has that stopped some before. The supprt here is mostly current shareholders.
The price trend..months without any news..hell. look at the financials. The story has absolutely no draw to anybody that has not followed the stock..and what minuscule amount there might be is crushed by how the company has operated and the constraints they find themselves in. Smart money wants nothing to do with this.
Looks like some shareholders are waking up from a slumber. Its good to finally see it. Good ti see that so many of the words and descriptions used that were vilified turned out to be prophetic in the end. The true shame is how many are losing such large sums of their hard earned dollars based upon fable. Unless your name was Sprague or you were associated with them. Then you did more than fine. He sold a mirage to the shareholders.
If one only had the type of information provide from the company and the actual analysis that most other stocks undergo, minus all of the chat board noise, the company would have been long gone.
There is a reason that the only coverage that was ever initiated on this stock was bought and paid for. Many will be embarrassed once this goes down and it can be seen for what it is and not some fantasy it was portrayed to be.
Name me one time when the shareholders were considered in any equation without being forced? Why in the hell would they start now?
The shame is that some folks believe they wouldn't do this unless there is something lined up already. In my mind the financial situation is so bad I don't think any major adaption is forthcoming. I don't think any company can take that chance. That's the vicious position they have put themselves into. Do they have enough personnel on the payroll to service a large client? The other black mark given the financial situation is that they don't have any real long term servicing of anything large scale and long term. Lots of what they had has fallen away. These are all impediments magnified by the financial situation. The RS does absolutely nothing to rectify that. Zero.
Player that's what has infuriated me for years. I was a long shareholder and got painted in this light as if I had some agenda. Nothing could be further from the truth. I wanted some god damn answers on what they hell was happening with my investment.
The B shares don't matter because nobody has bought any of those for years..know if you see them sell something is afoot..they carry 5 times voting power of A shares
The shareholders need some real answers as to what isn't being paid, how many employees are on the payroll right now, how many sales how many IT....how many offices are still open....they don't have the balls to face the shareholders and yet want a split to do who knows what. These insiders don't even have 5% of the float locked up and yet again they want the shareholders to bear nearly 100% of the risk Tell them to F off.. enough is enough....
Disdain is correct. What a kick to the nether regions of the shareholders. One can almost see that if the RS passes the stock will be under .05 by the time the RS takes affect. So what you now have is shorts bludgeoning the stock yet again, management diluting the shares again as they add to the float yet again like you point out. And to add insult to injury the shareholders get charged the resettling fee from the broker for the privilege to see there shares chopped yet again
Damn somebody who bought hundred thousand shares at a buck is now looking at 7500 worth of stock if that stock stays there and then after the split gets driven down to .80 that gets turned into 4,000.
What gaul these bastards have to just continually go to the well and rape these shareholders over and over, and yes rape is the correct term for what has been done to these long time shareholders.
This has been nothing more than a rouse played upon the shareholder base to keep the cash cow giving. Saying the market wasn't ready or never got it is pure BS to keep the ball moving.
The way the stock has been consistently falling, however slowly it may be, can anyone be confident it can stay above a nickel before the RS even takes.effect? It's at the point now where just holding a dollar will be difficult, and that's the whole purpose of the vote.
There are 13,000,000 B shares authorized but only 8,885 owned. If there are approx 60M outstanding A class shares a 1-20 puts the voting float at 3M shares 591,116 of those B shares need to get snapped up to secure any vote the BOD sees fit. There is no value on those share per se because there is no market. If the SP drops to .06 you are talking less than 35,500 to acquire enough shares. Probably even less than that when you consider the A shares held by the insiders as well.
Whatever is going to happen is going to happen. Per business as usual the shareholders probably won't have a voice in the outcome.
Here is where that could get interesting and i don't have time to access number right now but one could go back and get the number in a filingn. There is a set number of B Shares authorized tho not all owned. Also stated no value on those shares an those shares cannot be traded on the nasdaq market. I think the par value assigned is .01. These are also the shares that carry the voting rights of multiple A shares. Five times power i believe. Interesting to see what percentage of a vote those shares carry if a 1-20 goes down...
Pain seems to be opening some eyes.
Zen you are spot on. The information that was made available from the company was suspect at best and for whatever reason was given a pass by and large fron the most vocal under the guise of being stealth. A joke. Unfortunate for the shareholders that most information that could be used to determine the health of the company came from the boards. While a good chunk of this information really fleshed out the space and opportunity, time has shown a majority of this as it related to wave was misguided. The question in my mind is why the same fine tooth comb wasn't used on the company as say Finread back in the day. And yes to say one should have just sold is bogus when as a matter of fact more weight should have been given what was being offered as information from the company than ever from a message board.
There are many reasons the company is in the shape it is in today. Almost all of these were determined to be but a bump in the road by the publication. The signs have been there for years. Time has a funny way of exposing these. What is mind boggling to me is the number of folks suprised and still clawing away at something that isn't there...a sale price far above the share price, left field deals and the like..its like watching drowning people thrashing for a log in a barren ocean.
Also without any real investment in the company cashwise..do you really think those making rhe decisions are going to hold out for the highest price possible? The shareholders control more shares than insiders and institutional investors combined. What the insiders have is controlling interest to over ride whatever the share holders desire
Delusion abounds..a.25 sale price? The stock does not trade at .25 so thats a huge premium to price right now. There is no market for the product to justify that price. If you take the shareholders who are buying, and the traders just moving paper to make a few pennies where does the price settle down to? The shareholders will be lucky to get about .07 a share if that.
The technology is worth more than that argument is bogus because at these prices if it were true they would have been taken out already and the bridgeloan would have been done in an equity stake.
Uh..that would be none. A stand alone business model this is not.
How about this scenario....Look at what wave has staring it in the face in short order..heinous bridge loan repayment, nas listing requirements need to be met, news and revenue silence...the 3rd quarter numbers not painting a rosy picture and incomplete.
And the RS looming. With a falling shareprice that really is going to render the RS numbers they projected impotent.
By the time the RS goes down if they have no revenue news the shareprice could be .07,.06 even .05. It won't hold a dollar for more than a couple trading days at the 1-20 at these prices.
What if that announcement coupled with the lack of communication was a nod and wink telling the longs it was time to give up the ghost and get something while they still could.
It is a plausible as anything to me. You had the snafu releasing the 3rd quarter numbers-sans the number we were told to gauge progress by-the most important number according to them. No conference call.. no news and then the RS announcement coming out.
I think that was the smoke signal the shareholders are misreading.
To flesh out how bad that is, look at the time frame that money was needed for.
I second what Player said. One of the truer pictures we had emerge about the company over the last few years came from your posts. Too bad those with the most to lose probably never saw any of them.
The perception by possible customers would be enough to never do that.
And why not Player, this is a unique company. I am sure that once the powers that be saw how ubiquitous the product was going to be they decided to take the shareholders on a 14+ year ride, where their subterfuge was not going to be discovered, in an effort to shake every last shareholder loose from their shares so only a select few of the stealthy inner circle could profit wildly...yeah!
Let them eat cake........
The essence of this investment has basically come down to hoping to be able to recoup what will probably amount to a small sliver of the potential losses as opposed to total loss. Wow...what a crap sandwich to be faced with eating. Money buried in a coffe can was a better choice. When the end comes and the bag is being held I cannot believe the cost was worth the experience.
So many things that have been discussed over the years as it pertained to this investment that were deemed impossible and an unlikely scenario have almost all come to pass. So much of the time devoted to DD has turned up big fat goose eggs as it pertained to the investment but rained down in spades the expectations. If only trust then verify was used more..especially as it concerned the actual company.
The large chunk of shares for the bridgeloan and the warrants that came with it, which I think would total over 13M shares I can't remember the exact number and don't feel like looking. I recall the conversation about them having a hard time selling those but I thought the discussion was such it would give those investors control.
Player do you think it's possible or plausible that the warrants we talked about way back when were exercised and control of the company is what is holding things up?
Interesting Player. Could very well be and they don't have the same sort of bonds to the old CEO. No reason to give the same sort of leeway. I just don't know who the hell they could bring in with the company in this shape. Truth is if they are in this shape it won't matter. They just need somebody to oversee whatever fate awaits.
Good luck with that. It's pretty amazing what some bad news or a bad event from within the company changes perspective. The point you have reached is where a lot of names over the years just disappeared from the scene, or ended up not being able to participate in the discussion.
Interesting...I look at the posts on this board from 10 or 11 years ago yesterday and one poster made a comment about a patent expiring in 2010....wonder what one that was?
If the price keeps dropping it won't matter..and the investors who stepped up to the "buffett" table are going to be pissed!