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Lou, fellow-poster, I'm not attacking you personally, but aren't you a little bit concerned about them spending money on these press releases? And what it says about the company to potential investors? You go to a branded web site that says they're in the cell phone business and suddenly they're selling cut rate DVDs? If they were going into cut-rate electronics, okay. That would be interesting. But that takes more logistics than slapdash press releases. By the way, hiring a company like Ruth costs big bucks. We're all paying for that. It just strikes me as such a waste. Deal says we who are angry are whining. I say we who are angry are looking to see more effective direction.
If you could connect the Dateline piece to something that may impact Hopon, that would be appreciated. Key thing I'm looking for is immediate relevance.
Ruth Group info. I am sending an email to the head of The Ruth Group, Carol Ruth, questioning how she can legitimate working for such a disreputable company like Hopon, beyond the fees they're paying her.
It tarnishes the reputation of all her clients, which include the following:
Trinity Biotech PLC
SINA Corp
Virxsys of Gaithersburg, Md
Morgan Asset Management
Xinhua Financial Network
Morgan Keegan
Perhaps they should know the fine company they're keeping in Hopon Management. Ruth's email is: cruth@theruthgroup.com
Welcome to transparency, folks. These slimeballs can run, and periodically hide, but we can do what we can to catch 'em.
DVDs!
got ya. Sorry if my anger seemed aimed at you. That latest pr release was so clearly junk. I just can't figure if this management is totally out of their minds or they figure new investors are total idiots.
Wistockjock - aren't you at least a bit infuriated that a company in which you own stock is wasting money paying for PR releases to sell a line of products totally outside their brand arena? If not, you're have the patience of a saint. Though it gives faith a bad name to believe in this stinker.
By the way, here's an excellent piece about another loser, describing a similar trajectory. From today's Motley Fool about a stock that has fallen dramatically in recent weeks. Notice what he says about issuing a lot of pr releases.
Requiem for Xybernaut
By Rich Smith
April 4, 2005
Thursday was, to put it mildly, a bad day for investors in wearable computer-maker Xybernaut (Nasdaq: XYBR). Shareholders had anticipated seeing the company's already delayed earnings report published that day; instead, they saw a press release describing corporate Armageddon. (Read it here.)
To summarize the highlights, Xybernaut announced that:
* Two months ago, it received an SEC subpoena for documents.
* One month ago, Xybernaut's Audit Committee began investigating its accounting controls, allegedly improper acts by management, and the "propriety of certain major transactions."
In response to that news, and the footnote observation that revenues declined both year-on-year and sequentially since last quarter, the company's stock price jumped off a proverbial cliff, plunging 43% in a single day.
Today, I want to review just a few of the clues foretelling that disaster. Why? Because a lot of individual investors got burned by Xybernaut last week, and they may be tempted to just sell out now and forget Xybernaut ever existed. That would be a mistake. Individual investors paid dearly for investing in this company. They should consider that payment tuition paid for a course in Investing 101. Note, I'm not talking about the day traders and stock pumpers here -- they knew they were playing with fire and they'll do it again. This column is dedicated to the real investors, the true believers who were, in my opinion, so badly abused by their company.
The Motley Fool is all about the individual investor. We're investors ourselves. Not "hedge fund honchos." Not Wall Street bankers. And our mission is to help other investors make sense of the stock market and read between the lines of the corporate PR departments. To wit:
Press releases: Xybernaut put out a lot of them -- 14 in the last Q4 2004, and 19 so far this year. The rate of snow-jobbing was high -- and increasing, suggesting the level of desperation at the company was rising, as well. Contrast that with the two or three press releases put out by Motley Fool Hidden Gems picks Middleby (Nasdaq: MIDD) and Saucony (Nasdaq: SCNYB) over the past three months. Each of those picks has "quietly" gained more than 150% in two years. Moral:
Truly great investments let their numbers speak for themselves, and leave the spin doctoring to companies that are truly sick.
Profitless sales: Say I buy a car for $1000 and sell it to you for $900 today. I've got $1000 in sales and a $100 net loss. Tomorrow, I buy two cars for $2000, and sell them to you for $1800. I've doubled my revenues, but I've doubled my losses, too. Moral: Growing revenues are irrelevant unless they yield growing profits.
Stock dilution: Xybernaut increased its share count by more than 50% per annum over the past five years, starting with just over 21 million shares, and recently passing 170 million. It's therefore no surprise that Xybernaut's stock price has gone down, because each share of Xybernaut for sale today gives you just 12% the ownership interest that a share represented in 1999. The stock sells for less… because the stock's worth less. The moral here is simple: Even if dilution keeps a company alive, for investors, the company might well be better off dead.
In the end, Xybernaut's greatest value may be as a case study for the kind of company investors should avoid. It offers many more lessons than the few I have space for today. But if there's sufficient reader interest, I'll be glad to pen a followup exploring a few of the company's other "issues."
Until then, Fool on!
Fool contributor Rich Smith has no position in any of the companies mentioned in this article.
Lou, you taught me two lessons in one day. First, that "branding" pr releases like Hopons are used "every day." Every day. In fact maybe it was Mr. Michaels, Father Gannon, or Dr. Ruth who invented this genre of high IQ, low yield marketing. In fact, I just realized these releases (judging from your answer to my branding question) is how the network news happens. Get Hopon, a Ruth Group, and Dan Rather has a job. Oh, yeah, he retired. Sorta might be a model for Hopon. Or maybe it did. Oh, yeah, second lesson. Branding again. Looks like now the brilliant pr releases has them selling DVDs. Puts Einstein to shame. Who cares what this company sells? You don't seem to care. So therefore I won't. Because I trust what you say. Hopon has a brand. Or then again, what the heck does the word brand mean? In this case it means cheap. Cheap products. Cheap stock. Cheap scapes. Add an e to the end of their name and I'll buy more shares. Hoping these loogie-brains hopoff. Cause they might as well be selling bottled water as DVDS, wifi or what was it they started with? Oh, right, cell phones. Only they turned out to be Motorola cell phones with a laundered brand name on it. Dirt scum bunch of grifters.
Lou... you say that "branding" is key. I agree with you. But I don't see a single thing that they're doing to wisely brand themselves.
Brands have two sources of DNA, and both revolve around strong relationships. One source are consumers, the other are distributors. On the consumer side, what are they doing? Their potential touch point of a web site is a joke. A 14 year old could build something more impressive. And it offers few clues to consumers why they should trust this company. Or be excited by it. So far as consumers, they seem uninterested, putting their marketing funds into paying a high-tech oriented p.r. firm. The public isn't impressed by those press releases. If they were wiser, they'd be tapping into the social networks of teens, and there are lots of groups who could help them do this. But they seem uninterested or ignorant. On the distribution side, they put their money into The Ruth Group, which again... given the relentless push of meaningless press releases is a lot of energy signifying nothing. So where else do they brand by strengthening relationships? Showing up at these tech fairs. Okay, that seems reasonable. But having the entire company show up isn't impressive. It looks desperate. And they've yet to leverage any of those fairs into something concrete. As in "show us the money." As they refuse to do. In fact, looking to move into the "wi-fi" space just makes them look like third-rate wanna-bes. Talk about branding, bring aboard someone who actually knows the industry and technology, do some p.r. around their hiring, heck, then I'd forgive them unloading stock. But what's the dissolution and dumping giving us?
You talk about branding, Lou, but again, what cues are they giving you that they know what they're doing or trying to even figure out a better way? I'd love for hear something concrete as I own shares in this company. But I just don't see it.
which board is ragingbananas posting on? I didn't see him here
Can you provide a link, please?
Ragtime Cowboy, thanks. Posting all I found, with link to judge who indicted him.
Here's the dirty truth, all from RB's Junkmanlong
Note his last post as you read that Michaels only was charged with count 12
for a link to the judge.... http://www.casd.uscourts.gov/CASD/Staff.nsf/0/62825d2a4c11479f082567630079c5c0?OpenDocument
Office of the US Attorney, Southern District of California, San Deigo
http://ragingbull.lycos.com/mboard/boards.cgi?board=HPON&read=51250
By: junkmanlong1
24 Feb 2005, 10:20 AM EST
Msg. 51250 of 53310
The only count that Peter was charged with was count 12
CONSPIRACY TO LAUNDER ILLEGAL PROCEEDS - 18 U.S.C. Section 1956(h)
He plead Guilty to that one.
HERE ARE HE REST
http://ragingbull.lycos.com/mboard/boards.cgi?board=HPON&board=HPON&read=51050&submit=Go...
1/12/05 114 Minutes: Enter Order by Judge Barry T. Moskowitz; dft's 1,
3, and 4 not appearing disposition hearing continued to
3:00 1/25/05 for Charles - Woods, for Greg Boretz, for
Robert Rey, for James Beck before Judge Barry Ted
Moskowitz ; Court Reporter: Barbara Harris (r1r)
[Entry date 01/13/05]
1/14/05 115 Acknowledgment and WAIVER of personal appearance by
defendant Peter Michaels (r1r) [Entry date 01/19/05]
1/14/05 116 Minutes: Enter Order by Judge Barry T. Moskowitz
disposition hearing continued to 2:00 2/22/05 for Peter
Michaels before Judge Barry Ted Moskowitz, XT4
(continuance - give counsel reasonable time to prepare)
from 1/14/05 to 2/22/05 as to Peter Michaels ; Court
Reporter: Barbara Harris (r1r) [Entry date 01/19/05]
1/25/05 117 Minutes: Enter Order by Judge Barry T. Moskowitz; #1,3,4 -
disposition hearing continued to 4:00 2/16/05 for Charles
- Woods, for Greg Boretz, for Robert Rey before Judge Barry
Ted Moskowitz, #3 - bail hrg to enlarge travel area -
denied; atty to file stipulation and order with sureties
approval of change in travel restrictions; #5 - motion
hearing set for 4:00 2/25/05 for James Beck before Judge
Barry Ted Moskowitz; jury trial set for 9:00 6/27/05 for
James Beck before Judge Barry Ted Moskowitz, #5 -
disposition hearing not held - to be vacated, XT4 (cont.
substitute counsel) from 1/25/05 to 6/27/05 as to James
Beck ; Court Reporter: Barbara Harris (ksr)
[Entry date 01/26/05]
2/8/05 118 STIPULATION as to defendant Greg Boretz to modify
conditions of release (r1r) [Entry date 02/08/05]
2/8/05 119 ORDER by Judge Barry T. Moskowitz as to defendant Greg
Boretz granting stipulation [118-1] to permit the dft to
travel nationwide for the purpose of attending job releated
conferences but he must inform PTS prior to such travel and
arrange to check with PTS Officer during the period of his
absence; cc: PTS (r1r) [Entry date 02/08/05]
[Edit date 02/08/05]
2/10/05 122 Notice of Motion and Motion by James Beck to supplement
the discovery motion previously filed with the court
motion hrg set for 2/25/05 at 4:00 (r1r)
[Entry date 02/11/05]
2/16/05 123 SUPERSEDING Information Charles - Woods (1) count(s) 1s (ksr)
[Entry date 02/17/05]
2/16/05 124 WAIVER of indictment by defendant Charles - Woods (ksr)
[Entry date 02/17/05]
Docket as of February 17, 2005 7:14 pm Page 20
Proceedings include all events. COMPLX
3:03cr1109-ALL USA v. Woods, et al
SEALDC
2/16/05 125 WAIVER of statute of limitations by plaintiff USA as to dft
Charles Woods (ksr) [Entry date 02/17/05]
2/16/05 126 SUPERSEDING Information Greg Boretz (3) count(s) 1s (ksr)
[Entry date 02/17/05] [Edit date 02/17/05]
2/16/05 127 WAIVER of Indictment by defendant Greg Boretz (ksr)
[Entry date 02/17/05]
2/16/05 128 WAIVER of statute of limitations by plaintiff USA as to dft
Greg Boretz. (ksr) [Entry date 02/17/05]
2/16/05 129 Minutes: Enter Order by Judge Barry T. Moskowitz; dft
Charles - Woods arraigned on s/s info; Atty present,
Charles - Woods (1) count(s) 1s enters guilty plea; dft
referred to USPO for PSR, PO report and sentencing set
for 3:45 6/1/05 for Charles - Woods before Judge Barry Ted
Moskowitz; all pending motions - moot; ; dft states
true name: Gregory Boretz; dft Gregory Boretz arraigned on
s/s info; ; Atty present, Gregory Boretz (3) count(s)
1s enters guilty plea; dft referred to USPO for PSR, PO
report and sentencing set for 3:45 6/1/05 for Gregory
Boretz before Judge Barry Ted Moskowitz, Robert Rey (4)
count(s) 12 change of plea to guitly to count 12; dft
referred to USPO for PSR, PO report and sentencing set
for 3:45 6/1/05 for Robert Rey before Judge Barry Ted
Moskowitz all pending motions - moot ; dfts #1,3,4 only;
XE (pretrial motions) from 5/23/04 to 2/16/05; Court
Reporter: Barbara Harris (ksr) [Entry date 02/17/05]
[END OF DOCKET: 3:03cr1109-0]
http://ragingbull.lycos.com/mboard/boards.cgi?board=HPON&read=51091&submit=Go
By: junkmanlong1
23 Feb 2005, 07:02 AM EST
Msg. 51091 of 53310
(This msg. is a reply to 51050 by junkmanlong1.)
Jump to msg. #
Court update important parts!
1/14/05 116 Minutes: Enter Order by Judge Barry T. Moskowitz
disposition hearing continued to 2:00 2/22/05 for Peter
Michaels before Judge Barry Ted Moskowitz, XT4
(continuance - give counsel reasonable time to prepare)
from 1/14/05 to 2/22/05 as to Peter Michaels ; Court
Reporter: Barbara Harris (r1r) [Entry date 01/19/05]
2/16/05 129 Minutes: Enter Order by Judge Barry T. Moskowitz; dft
Charles - Woods arraigned on s/s info; Atty present,
Charles - Woods (1) count(s) 1s enters guilty plea; dft
referred to USPO for PSR, PO report and sentencing set
for 3:45 6/1/05 for Charles - Woods before Judge Barry Ted
Moskowitz; all pending motions - moot; ; dft states
true name: Gregory Boretz; dft Gregory Boretz arraigned on
s/s info; ; Atty present, Gregory Boretz (3) count(s)
1s enters guilty plea; dft referred to USPO for PSR, PO
report and sentencing set for 3:45 6/1/05 for Gregory
Boretz before Judge Barry Ted Moskowitz, Robert Rey (4)
count(s) 12 change of plea to guitly to count 12; dft
referred to USPO for PSR, PO report and sentencing set
for 3:45 6/1/05 for Robert Rey before Judge Barry Ted
Moskowitz all pending motions - moot ; dfts #1,3,4 only;
XE (pretrial motions) from 5/23/04 to 2/16/05; Court
Reporter: Barbara Harris (ksr) [Entry date 02/17/05]
http://ragingbull.lycos.com/mboard/boards.cgi?board=HPON&read=51247&submit=Go
By: junkmanlong1
24 Feb 2005, 10:02 AM EST
Msg. 51247 of 53310
Jump to msg. #
Court update
2/22/05 130 PLEA Agreement as to Peter Michaels (cgl)
[Entry date 02/23/05]
2/22/05 131 Minutes: Enter Order by Judge Barry T. Moskowitz: Dft #2
states true name to be Peter Daniel Michaels Peter
Michaels Michaels (2) count(s) 12 enters guilty plea; dft
referred to USPO for PSR , PO report and sentencing set
for 6/10/05 for Peter Michaels before Judge Barry Ted
Moskowitz ; all pending motions of this dft - moot; Court
Reporter: B. Harris (systems) (cgl) [Entry date 02/23/05]
[Edit date 02/23/05]
http://ragingbull.lycos.com/mboard/boards.cgi?board=HPON&read=51297&submit=Go
By: junkmanlong1
24 Feb 2005, 01:51 PM EST
Msg. 51297 of 53310
Jump to msg. #
Grand Jury Charges
1. On or about August 1995 defendant PETER MICHAELS, on behalf of WWWC, and defendant CHARLES WOODS, on behalf of Tri Star Wireless Communications, INC., executed a “marketing and consulting” agreement which purported to permit Tri Star Wireless Communications Inc. to solicit investors on behalf of WWWC and affiliated companies for compensation of 25% of funds raised and 10% of all outstanding stock of WWWC and affiliated companies.
2. On August 25, 1995, and on August 6, 1996, defendant PETER MICHAELS, on behalf of Binky Roo Software, Inc., executed an agreement with WWWC ( of which defendant PETER MICHAELS is also a principal), in which WWWC would pay Binky Roo Software, Inc. an initial license fee of $500,000 and other compensation for the development of software.
3. On October 20, 1995, defendant PETER MICHAELS authorized the issuance of a Private Placement Memorandum that offered shares of WWWC stock, for a total offering of $4,750,000.
4. In April 1996, defendants PETER MICHAELS and CHARLES WOODS filed a “Notice of Sale of Securities Pursuant to Regulation D” with the United States Securities and Exchange Commission, listing defendants PETER MICHAELS and CHARLES WOODS as principals of WWWC.
6. On. May 15, 1996, defendant PETER MICHAELS authorized the issuance of a Private Placement Memorandum that offered shares of Camelot Gaming, Inc. stock, for a total offering of approximately $5 million.
7. On July 22, 1996, defendant PETER MICHAELS authorized the issuance of a Private Placement Memorandum that offered shares of WWWC stock, for a total offering of approximately $15 million.
8. On July 22, 1996, defendant PETER MICHAELS authorized the issuance of a Private Placement Memorandum that offered shares of Camelot Gaming, Inc. stock, for a total offereing of approximately $5 million.
9. In September 1996, defendant PETER MICHAELS paid $17,0000.00 of investor funds to pay for credit card bills.
10. On March 14, 1997, defendant PETER MICHAELS used $130,935.78 of investor funds to purchase a boat.
24. On February 4, 1999, defendant GREG BORETZ spoke by phone with “Joseph Edwards” stating that Tri Star portfolio company WWWC had merged with a shell company called New World Discovery Publishing (hereinafter “NWDP”) and that NWDP had obtained an internet gambling licensing agreement with Australia, and that defendant CHARLES WOODS had a sublicensing agreement with NWDP.
30. On June 11, 1999, defendant PETER MICHAELS on behalf of WWWC, issued a letter to WWWC shareholders regarding conversion of investors’ WWWC stock into stock of NWDP, another company controlled by defendant PETER MICHAELS.
CONSPIRACY TO LAUNDER ILLEGAL PROCEEDS – 18 U.S.C. Section 1956(h)
1. Beginning at a date unknown to the grand jury and continuing up to and including December 2000 within the Southern District of California, and elsewhere, defendants CHARLES WOODS, PETER MICHAELS, GREG BORETZ, ROBERT REY, and JAMES BECK and others known and unknown to the grand jury did knowingly combine, conspire, and agree with each other, and with other persons known and unknown to the Grand Jury to commit offenses against the United States in violation of Title 18, United States Code, Section 1956, to wit: to knowingly conduct and attempt to conduct financial transactions affecting interstate commerce and foreign commerce, which transactions involved the proceeds of specified unlawful activity, that is, mail fraud, in violation of Title 18, United States Code, Section 1341 and securities fraud, in violation of Title 15, United States Code, Sections 77q(a)(1),(2), and (3), with the intent to promote the carrying on of such specified unlawful activity, and that while conducting and attempting to conduct such financial transactions, knew that the property involved in the financial transactions represented the proceeds of some form of unlawful activity; in violation of Title 18, United States Code, Section 1956(a)(1)(A)(i);
ENT, I looked as far back as I could for Ragingbananas' posts. Didn't find any. If you could find them and give me the link or just post the judges' name, anything more... that would be appreciated.
Great post, MG.
Entirely, if you can find out the name/address of the judge and/or prosecutor confronting Michaels, I would write a letter to them too.
whatever age or gender, does it matter a hoot to you actually beyond your pride at losing on this stinker stock? Entirely could be a donkey for all I care. Guy's been annoying only because he's right. Yeah, at times it's a bit much but he's way more "on" than any of the many boosters of this turkey.
Here I disagree. The leadership of the company should be accountable. But other employees, you don't know what they were told. And if there is a lawsuit, their honesty would be welcome by the shareholders.
Thanks! Will do. A post we can act on. Let Michaels go to jail and Gannon go back to washing dishes.
Deal... I'm not sick of Entirely. I'm sick of the folks pandering to the management of this sick company. ENT has been right the entire name. Good name ENT
Total scam. Want to kick myself for ever investing in a company with a grifter at the helm. Only redeeming factor is ultimately a guy like Michaels gets his. Look at Ebbers. And Gannon, hopefully that guy is through. Unless he changes his name, this will live to haunt him.
By the way, if you ever hear anyone pitch the BI investment Newsletter, run. Guy who runs it doesn't seem like a grifter. Just someone who talks smart and leads you to pure stinkers.
Hpon and WiFi
The fact that Hopon puts up a web page aligning itself with this internet-connection technology, an effort that at most, took half a day for design, well, it can't hurt drawing in a few hapless micro-penny stock investors... but doesn't mean squat. They may as well have put up a web page with a Hop-On phone offering RFI technology. Or Hopon enters the bottled water business. These guys are grasping... or gasping. So am I on the couple of thousand bucks I invested in this headache masquerading as a stock.
Dixie, see where you're going with that r/s option. And maybe you're right. Again, I'd be delighted if this stock somehow makes it. Just strikes me (and a few of us here) that it's on a death spiral, which has nothing to do with whether any one of us buy a single share or not. All has to do with management which we can't impact.
sorry, I was responding to Dixie buying more shares, falling in love with all the acreage he could get for his dollar.
Dixie... I've done the same thing on dying stocks before. It's the ownership of so many damn shares. It feels gooooood. Even if it is worthless.
What's irritating, though, is your desire for others to join you. It's a bit like an intoxicated teenager asking adults to trust their pining. When the person they're pining for is married, cheating on a partner, and totally using the teen. Some adults would laugh scornfully. Others would feel sorry for the teen. But at the point where the teen asks them to root for such foolishness, most of them would go "grow up."
Buddy, maybe I'm the real fool here, and you'll make a fortune. And then you can call me a guy with the mentality of an old grandma. If that happens, I promise, I'll wear a hat with that exact label for an entire day just for you. And wish you well. But in the meantime, maybe it might be smarter to just wait to see if this thing ever makes a penny, then as it rises, be there on the bandwagon.
ET-what makes you think MSITF is any more honest than HOPON? It seems mighty diluted to me. No?
M: it's hard to know what you're saying to DealBreaker. Just as his posts are more suggestive than definitive (what the heck do they mean?) I wish you'd be clearer in spelling out what you're suggesting. Not criticizing you but just would wish for some clarity. What exactly did Deal do to make you suggest that he's either working inside Hpon or for Michaels?
excellent post
Read this week's Business Week for coverage how the SEC is going after these scam operators. One of the reasons Michaels may well have the entire crew showing up at these conferences is precisely to give a cogent story (aka "cover") for this shell game of a company. He shows up ready "to sell." He can deduct the costs and it says he's serious. But if he were serious, he'd have created a management team with some power to make real deals.
Dixie, I'm sorry for you and anyone who depends on you for money. It's just such bad judgement. If you don't want to unload your shares, then hold on rather than hop off. But why throw good money after bad.
You know, Dixie... before you said you are not a shill. And it looks like in the letter sense of the law, you aren't. But you sure sound like you're shilling. The only folks taking their time to warn you here are being kind. Given you mention Pan Am, you can't be that young. But your conviction in a man who is about to be convicted... well, it has the naive wistfullness of baby poop. But ah... I got a bridge in NY you can have for a couple hundred if you want, and all you have to do is paypal me the money. My press release is forthcoming.
thanks again. All useful
Okay, Deal. Fair enough. Probably good advice. Only question I have then, is anyone has any specifics of where the case is against him, who is involved... that would help.
thanks. Appreciate it.
What's Aber?
Hey, Deal... zzz back at you.
The rest of you... why hang out bemoaning these dudes without trying to do anything? Again, if anyone was at that meeting where certain promises were made, what do you have to lose by approaching the man, giving him warning... and if he doesn't follow through on doing something constructive, then send a letter to the prosecutor. He lied to you. Don't you feel any sense of wanting recourse? The only argument against it is Michaels is incapable of actually changing course. But if he keeps selling shares to finance operations, he has access to money. Believe me, Ruth Group is costing them dough. As are these conventions. If they're spending money there, they can bring in a telecommunications sales pro who might be able to build a real company.
"They" are we. We are the shareholders. Three or four or five of us have the power to write that letter. We just need someone who was there at that meeting where Michaels made the promise. I'll draft a letter. I just need someone to sign who was at the meeting.
Money Laundering? Yikes. I didn't think it was that bad. That's a federal offense.
Though even more reason a character-witness letter ought to frighten him and everyone associated with him, Gannon to the Ruth Group. If there's time to save this company, it's not tomorrow, it's now.
All I'm saying is we draft a note to Michaels and Gannon that they need to act... put the money they're getting from all these sales of stock, and buy someone to run this company.
They can keep some shares so if it succeeds, at least they'll prosper that way. But if they're taking us down, we have a right to make sure they burn too. There's nothing strange or unreasonable about that.
Billy... you say that Entirely's vent is understandable but that his suggestions about Michael and Gannon can't be put into action. Namely, at a minimum, getting Michael to leave the scene. But given his upcoming trial, and yesterday's conviction of Bernie Ebbers, us shareholders may hold more influence over him and Gannon than they certainly would want us to sense. While comparing Ebbers and Gannon (WorldCom vs Hopon) may seem apples and oranges, here's where there are similarities. Both men led companies to their fall and lied to shareholders. Michael's lies, and Gannon's willingness to stand by them (as well as the Ruth Group perhaps) gives us shareholders some leverage. Concretely how?
Because with this ship sinking fast, we ought to write a collective note to this man with the suggestion that he and Gannon find a legitimate CEO. The company made promises to shareholders, then did more than fail to follow through, but continued to dilute the company (and by extension its owners, us!) by selling more and more shares. Yes, there's nothing illegal in simply dilution. But again, they made promises they flatly didn't keep. It's not enough to convict Michaels on its own, but given the man is up for other crimes, it sure won't help him if the judge hears from a group of irate company share holders. The next letter could be to the prosecution. Again, it will not be enough to convict him but it might lead him and Gannon to listen to us and find worthwile management leadership. At this point, watching this stinker tank, our anger are empty howls in the wind. Entirely may be annoying, but that's what whining is... until it turns into taking action. Remember, Rosa Parks was just an old black woman who decided that she had as much a right to a seat in the front of the bus as anyone else. We can think small or we can act big. And I'd certainly chip in 50-100 bucks to buy a ticket for anyone who was at that shareholder meeting to attend Michael's trial if he refuses to keep a lot of his shares, but exit any managerial association with the company. Better to make these rip-offs pay for their action than live with the illusions that they are selling.
I apologize to you, Dixie. But I think you are being sadly (for you and us) unrealistic to think an R/S will help, or that press releases mean anything. SGI, which actually has mucho revenue, issues press releases every day. Their stock has fallen 70 percent and is down near a buck. I'm no smarter than you about the market but I do know marketing. It's hype. I bought this stock seeing it in the newsletter Cheap Investor, which is generally pretty good. I got in at 4 cents, then sadly bought even more at .002. Now I feel like a fool and not a Motley one, either. Just burned. Initially I thought Entirely went on way too long, but I've begun to believe the man actually has the right idea. The leadership at this company has lied to the shareholders and as Bernie Ebbers, Ken Lay and Jeff Skilling prove, the lying ends up causing misery for everyone involved. Take care and wishing all of us better luck on other investments. My best one so far has been Sirius (in very low) and a diamond stock called Tahera which has gone from 10 cents to over 40 cents, but that's taken five years.
Dixie is either out of his mind or a company shill. More likely he's a shill, setting the stage for a R/S and asking us to join the suicide march. He writes that Hpon is "a more viable and potentially successful ongoing venture than it ever was in the past." And crack cocaine is good for you. Thing I wonder about is whether a PR firm like Ruth could be sued by shareholders for putting out press-releases that infer successes that are impossible to achieve. Probably can't be sued, but if I were Ruth company, I'd be worried about being associated with the stink that's following this losing company.
Nothing like a "candy bar" phone to capture the attention of middle-class Indians. I imagine they'll be knocking down the door for those puppies.
Why don't we sell burrito shaped phones for the American masses? Or hot dog phones in France? Big Apple phones in Ottawa. Peach shaped phones in Siberia. Makes sense to me. Or as much as candy bar phones in India.
why's it going up so much? I'm happy but wondering
Entirely's age.
billybone... I think that ragging the guy on his age is cowardly. The man may overdo his messages, and I'm not even clear why he's hanging around for this kind of abuse, but he's becoming a fall guy for simply airing what a lot of us feel. Fear and anger about a stock that seemed to have potential and yet is hemmeroging shareholder value weekly, if not daily. We're all going to be 85 if we're lucky, and hopefully folks around us will have the decency not to blame us for that with any more vehemence than we ignorantly curse youngsters for their energy. Say what you will about me, but I want no part of a board that gangs up on folks. There's an awful lot of smarts and cool people on this board (the farming talk here is priceless, as it's informed and interesting and you won't get it anywhere else) but slamming someone around things like age... I don't know... leaves me with a bad taste. You can curse me out, too, but my feeling remains. You're a brighter better man than that comment and I hope you find it in you to show more consideration for the guy or... whatever.
"I think they are doing a great job driving you nuts."
Smartest comments I've read here all week. That's true. Driving him and me nuts.