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This isn't complicated. It was a convertible note, and they converted it into stock. They get a good deal on the stock because the money was lent at an interest rate that an up-start like UWNK would have a hard time getting from a bank. It's a trade-off. They accepted lower interest/greater uncertainty for an opportunity to profit from the rise in the share price. zac
<<maybe NOLAN should get out their more and promote his latest venture and start announcing some franchises.>>
How could they/why would they start trying to franchise it when it's been open for less than a month...lol....
I agree wholeheartedly.
lol...i was contemplating replying with something to that effect but you beat me to it. Keep up the good work rawnoc. :) zac
what are you talking about? The 8-k filed? It wasn't anywhere near 15 mm shares...lol...
Yes, I agree with you. It is a matter of time. I find it encouraging that the mgmt. has been focused on working on the business not just promoting the stock. It shows that they're in it for the long-haul. I think that Nolan has particularly strong incentives to grow the business because of his less than strong personal financial position. Zac
This is a really interesting profile of Nolan Bushnell that I found...it's interesting.
http://alive.atari.org/alive3/bushnell.php
Yeah...what really impresses me is that the executives aren't selling/exercising options...shows you that they are in this for the long-haul. :) zac
Hi,
What i think is interesting is that that's the first form 4 filed in awhile...I think it's REALLY a good sign that Bushnell etc. haven't been selling on this run-up. Zac
I just think that people claim to be so bullish on the long-term prospects of the company, and then obsess over penny fluctuations in the share share price. If you think it's going to be a big chain, it's worth a lot more than 30 million dollars. I just think that some people are obviously in it for the quick buck, and it's a little bit disingenuous for them to claim to be focused on the long-term when they're trying to lift the price of the stock before the close. It's silly.
<<last 30 minutes of trading i put a limit of 1.30 trying to take it out. guess it didnt>>
Why would you do that? That is the dumbest thing I've heard this week.
Do you have the weather forecast for last Thursday?
Hello,
Just logged in and noticed that the ask is at 63 cents? Is that glitch? If not, I'll be loading up.
he also posted the same comment he left here on the uwink blog...further proof that it is indeed Mr. Bushnell.
You don't ask mgmt about the stock price...that's such a stupid question. If you like mgmt. that is really focused on the stock price you would have loved the guys who managed a little trading company you might have heard of...it was called Enron. Let them stay focused on the business and the stock will follow. Zac
You can still see the bodies and that's what counts. :) Zac
You are an interesting guy...if you wanna email me at Jews4Kapler@aol.com sometime, i'd be very interested in hearing your story...i'm 18 years old and in high school and i've been investing in the stock market since 8th grade with very strong returns, almost exclusively with benjamin graham type deep-value stocks...only recently putting some into more speculative stuff.
Thanks,
Zac
haha...i didn't see those...i was referring to the safescript pharmacies one...that was you right? Zac
Rawnoc,
Ok, I'll take your word for it. I googled your ID and you have a very impressive track record...nice work uncovering some of those frauds!
Anyway, I look forward to seeing the pictures when they're available. I hope you didn't take offense to my natural skepticism. ;) P.S. I'd respond to your private message but apparently you have to be a premium member to do that.
Thanks,
Zac
He seems to understand pretty well what I'm saying. In investing it pays to be skeptical. That is all. You're making it personal and it isn't. In any case, I just called the restaurant and was told the wait would be about 20 minutes. Who knows. Zac
Hello again,
Yeah I just called again and got a different representative who said she looked it up for me and said that they didn't have reports of technical difficulties in the southern California area tonight (if it had been for the past week, I'm sure they would have known)...I'll look forward to seeing the pictures.
Thanks,
Zac
Hi,
Sorry for the misunderstanding...I don't think you are. I just think you have to be cautious with people on boards. You've posted a lot of interesting information about what you found out when you went to the restaurant, and suggested that you knew more that hadn't mentioned...seeing pictures would lend credibility to what you're saying...again, not trying to be rude/accusatory. I'm sure you understand. Zac
Not to be rude, but I just spoke with Sprint, and the representative said that he knew of no technical troubles in California and that he had spoken with many people from Socal today...if they've been having problems for a week, wouldn't the reps know...
Do you have the pics up yet? :)
Thanks for the reply. I stand corrected. :) This is good news. I had just assumed based on the balance sheet that additional capital would be needed. If not, that's even better. Thank you so much for your intelligent posts. Best alwas, Zac
I think that the great strength of Uwink may turn out to be in franchising. If you flip through the pages of Entrepreneur magazine, you will see ads for ton of restaurant franchises, VERY few of which have anything unique to offer to franchisees. Only a few havea brand name that could really be considered an asset.
While Uwink obviously doesn't yet have the brand name, it has a very unique product, and I think this restaurant should be seen as a kind of lab for developing that product into something marketable. There will be a degree of trial and error involved, but hopefully enough success to be able continue to get funding for the trial and error. As you all know, UWNK has a weak balance sheet, and additional infusions of capital (either debt or equity) will be required, and probably fairly soon.
I also think that Bushnell may be making a mistake in not aligning the brand more closely with his own record as founder of Atari. I think that there is ample opportunity for marketing based on that. Go one ebay and see how much money certain rare Atari games go for. The point is that there is nostalgia for Atari games and more recent stuff, and the people who were 10 then are in their 30's and 40's now, and may be a strong market for it. I think that they may be making a mistake in not pushing the Bushnell name more with this: THAT is the strength of the brand. Atari is in a liquidity crisis. They would probably jump at the idea of some sort of partnership whereby the Atari name could be brought into the restaurant.
So, all in all: I'm very bullish on the concept, and I think Bushnell has a strong record as an innovator. I also think it needs refining (don't think anyone would disagree there) and they may have greater success tapping into the nostalgic elements of it (the futuristic pong that they have is a start. What about displaying vintage video game memorabilia? That would be interesting to people. Adults could take their kids to show them what video games were like back in the day).
Sorry for writing so much. But these are the discussions we should be having: not "OMG!!! The stock is down 9%! What does it mean?!?!?!" The investment will succeed or fail based on the success or failure of the underlying business, not the other way around. Focus on understanding the fundamentals, and the stock will take care of itself. Take care, Zac
Yeah...I frankly wouldn't put a lot of credence in what the chearleaders on this board are saying. I mean, you got one of these people talking about how Bushnell sold Atari at its peak...i think that post is actually linked on the wikipedia entry for "revisionist history."
But the company isn't viable or not viable based on the ramblings of a few minor shareholders on this board. I check it based on the possibility that there will be reviews/interesting links posted here...certainly not to hear people's predictions for the share price movement over the next 18 minutes. Zac
Relax: With volatile, low-volume, OTC stocks, there can be very large swings, and if you follow the share price too closely, it can get to you and make you behave irrationally in a "stop the bleeding" sort of way.
Instead of analyzing every uptick and downtick in the share price, I think investors would do well to focus on the underlying fundamentals of the business. Based on what one #2 rated analyst has said about it, the CEO's track record, and the excellent team that has been brought on-board and a compensation system that rewards them for rewarding shareholders, I think that UWNK is EXTREMELY attractive at its current price. While the store opening is important, I think it would be a mistake to read too much into the success or failure of the location in its first week. This will play out over time, and the restaurant is not really finished yet, nor is it being heavily promoted. They opened early, I believe, to test the concept and get customer reactions, as well as to start to hopefully generate cash. They have been, in my opinion, deliberately low-key about it so far, knowing that this is not the finished product. That will be seen a little later.
My suggestion to shareholders would be to hang in there. It can be tempting to see day to day swings in the price of the stock as being relevant to the company/proving or disproving your investment decision. It is neither. They are random swings that have to do with demand for the shares at any given moment. That can be quite finicky in microcaps.
So I would hang in there. If UWNK really is an exciting new concept with great potential to be the next big thing, at a market cap of under 40mm with no long-term debt, it's a bargain. This is true regardless of whether it goes up or down 5 or 20 or 89% on any given day. If you can't deal with that volatility, don't buy OTC BB stocks. It's just that simple. I am so sick of seeing all the whining about people "PRAYING" that it will close "in the green." Pathetic. Good luck to all.
Who cares about the day to day swings in the share price? If you think the fundamentals are strong, just wait. Price and value always converge. Zac
>>Nolan hasn't been part of Atari for decades. He built the empire, then sold it at it's peak. That's when sh*t went downhill for Atari.<<
Sold at it's peak? He sold it in 1976 for 25 million and the company earned many times that amount in 1980. Bushnell sold Atari well before it's peak. What are you talking about?
(www.scripophily.net/atcorfampion.html+Bushnell+Atari+sold&hl=en&gl=us&ct=clnk&cd=1)