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If there had been cooking the books they would have fired Jeff too and not given either a severance package. Since that didn't happen, I have to think it may be other things that got Bob fired.
I believe this is the best thing that could have happened here. Bob seemed like a nice guy but unfortunately didn't have what it takes to run a public company. Not all have it. Hoping now the interim crew can get the K done and get us back on track. The current PPS is just ridiculous.
Ok, time for an adult conversation here. Look, when its all said and done, the bottom line is the PPS and shareholder value. Period. At this point, we have a team that can sell but can't run the day to day operations that are required of a public company. It's now time for the BOD to look at bringing in a seasoned CEO that can run the company. Bob, you are a good sales guy and that is where you should remain focused but you do not have what it takes to manage the day to day operations. The current PPS reflects that fact.
Again folks, this is not personal. Its business. We need to get shareholder confidence back and the first step would be to bring in someone who can run the company effectively.
OK SCRC Management, this coming week, get the K done. Enough messing around. The PPS is in freefall at this point and honestly, we can't handle another week of nothing. Do whatever you have to get the it done.
We just broke below .06. Unreal. Bob and Jeff, please stop WHATEVER you are doing and go LIVE at your auditors. Get the K DONE NOW!!!
Who knows at this point. I'm just shaking my head in disbelief that we still don't have the K done by now. I would like to put a quick shout out to Bob and Jeff and say THANKS GUYS. Loving the PPS. Please, no more PR about who's fault it is. Just get it done before this thing tanks to $.02.
Pipe, do you have a clear definition as to what "final phase" means? Does it mean they are doing their final checks before releasing the K? Any clarity would be appreciated.
Until the K comes out we are left guessing. I would like to think that Bob and Jeff wouldn't be stupid enough to put out PRs on #s if they were wrong. Trying to think what else the auditors saw that they didn't like. In the end, when the K comes out, if they have to restate numbers it may be bad. If the numbers were good and it was other things then we should be fine. Hoping we see this thing within the next few weeks. The wait is horrible.
I think my point, which that is ALL it is, is would it really make any difference if they put out PR on May's numbers? Seems to me that everyone is waiting for the K and any other PR besides that will land on deaf ears. Again, just my thoughts. Reality is that no new buyers are going to bite until they see the audited financials. Period.
I would say, and this is just a guess, by reading between the lines of the last PR that the K is their main concern and they want to get that done and out first. The other announcements will hit afterwards.
I doubt that is correct. If everything they have put out in PRs is a lie then there are a few folks looking at jail time. I think what we have now is a company that is dealing with all of the rules and regs in being a publicly traded company and something made the auditors nervous. I can't see them being stupid enough to publish sales numbers if they didn't actually ship. I still believe that once the K is released we see this bump back up into the high teens quickly. And no, I'm not part of the Core. I have been here for some time now and own quite a bit of this stock. Looking for this to turn around.
Was told that if SCRC has submitted EVERYTHING to the auditors that has been requested then we should see the K out around the week of the 22nd. And it can't happen soon enough. This PPS is painful.
At this point, I'm just glad that it seems to be in the final stages of getting this thing done. I don't care about excuses or reasons. Just get IT DONE!!
On a side note, lots of volume this morning.
Anyone think the lack of PR from May's numbers are attributed to the delinquent K? Might we be seeing the K sooner rather than later? Investors are DYING to know Bob.
Come on Bob and Jeff. Get the K done NOW!! Do whatever you need to get this out the door. Enough with the playing around.
SCRC. Sure is quiet here and elsewhere regarding SCRC. Silence before a newly released K or silence before the storm? Hoping for the first.
Yeah, that will work. If they aren't going to go any faster for the CEO and CFO what do think an individual investor will get them to do? Besides, why should an investor make the call when we are paying executives to do their jobs?
You just have to shake your head in disbelief at how long this K is taking. Unreal. I have no doubt that if it were completed the PPS would be well north of .18, possibly .20. Come on Bob and Jeff, get this thing DONE!!
Everyday these filings are delayed make this company and it's management look even worse. At this point, Bob and Jeff need to be living at the auditors to get this done. And no, this isn't whining but basic running a publicly traded company 101. Please don't be confused.
SCRC. At this point, the K and Q need to be completed and until that happens, the PPS will continue to slump. PERIOD. Anyone whining that they are no big deal don't understand how the markets work. These audited financials are needed to build trust with the street. Without them, in their eyes, it could be all be smoke and mirrors.
Come on Bob and Jeff. Pressure the auditors to get this done.
My hope today is that Bob and Jeff have some rough estimate on the ETA of the K and Q and feel confident enough to share that the conference. And if it's not in June, this will have been a wasted trip.
Going to LD Micro without your K will go over like a lead balloon. If they had it and the Q, you couldn't ask for a better conference to get some new blood into the stock. Oh well, another wasted opportunity.
Well, that was awesome today. Any guesses as to who or whom were dumping?
Well, either someone lost complete confidence or someone in the Core decided to dump some cheap shares. Regardless, everyday this management doesn't produce the K it kills the PPS. And the whining and name calling from the paid pumpers and dumpers will not change that fact. Reality is that this company is severely late now and it is taking it's toll on the PPS. Bob and Jeff need to living at their auditors until this is done.
A message to SCRC Management: If you are planning to go to LD Micro without the K or latest Q, save your money and don't waste your time. No one will take you seriously until you have audited financials.
You do bring up an interesting point. I'm not sure what DD the bank did to give them the line of credit but I would think it was thorough. My guess is revenue recognition and the auditors have found some instances where they didn't like how it was done. Hopefully we get the K done very soon. Waiting another 30, 60 or 90 days would be disastrous for the PPS.
SCRC. Hopefully they will have the 10k done before the conference. And wanting the 10K done isn't whining as some novices have suggested. Its called investing 101. The difference between a pumper and investor. Thanks.
Are they really going to LD Micro without a K? If they are smart, they will have it done before this conference. Otherwise, they won't get much traction.
Thanks for the post but none of it makes a difference until the K is put out. And now with the Q late as well, not good. Once SCRC went on the Pinks, most investment houses stopped buying. At this point, Bob and Jeff need to get the K done NOW, not 30, 60 or 90 days later. NOW!!!
Excellent post. Thanks Sandan.
SCRC
SCRC
Edited since the original message was deleted. Thanks.
Can someone within the Core please give us an update on the 10K? Bob and Jeff refuse to return investor phone calls and since you guys have direct access if you could ask it would be helpful. Thanks.
I keep reading others posting that if the 10K comes out 30, 60 or even 90 days later that is ok. Incorrect. It is NOT ok. The longer this is delayed the longer institutional investors will stay away. Every day we are on the Pinks is another day new blood stays away. No, the 10K needs to get done and done NOW, not later. I truly hope that Bob and Jeff have made this their TOP priority. They should be pushing their auditing firm DAILY to get this done. Come on Bob, show some of that legendary leadership I read about so often.
Not sure but I would think it has to do with the accounting methods that SCRC employed last year in their revenue recognition. I don't think they would spout out #s in PRs that were incorrect as that would mean disaster for the management group. I think the auditors are just taking their time and could not care less how late it is. All we can hope for is that Bob and Jeff are pressuring them to get it done. With last week's April #s (which were great) and the 10K, we will see the PPS pop quickly. The real issue is the stock being on the pink sheets now. No institutional investors will touch it. Get the 10K done, come off of the pink sheets and we will see some nice increases and volume.
The 10K. That's it. The management HAS to get this done and as soon as humanly possible. Once completed and if there are no "gotchas" we should be fine and the buying will resume. Until then, we are in this no-mans land and any institutional buyers will stay away until they leave the pinks. Come on Bob. Put the pressure on your auditors. Show them what the delay is doing to the PPS.
SCRC. Wow, I leave for a day after a great announcement on April #s and the stock has done NOTHING. Unreal. Clearly the market is waiting on the 10K. I really hope that this is Bob's #1 priority as having this late just throws up so many red flags. By delaying this it is only hurting the PPS and the company. I have been ridiculed and called petty names by JZ and members of the core in the past for suggesting this but here it goes again. Maybe its time to bring in someone to run the operations of the company while Bob focuses in on sales and growth. At some point, shareholders need to start looking at the structure of the company and ask if it is in good enough shape to take the company forward. While sales numbers are good, execution on day to day operations to keep the company compliant are severely lacking. You will rarely find a CEO that is good at everything. Again, this is nothing personal, just business. And please JZ and Core, no need for petty name calling or insults. Try and have mature and professional discussions about this. Thanks.