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My initial reaction was the same as yours.
Since then, I've been trying to look at things from the perspective of the BOD. What motivates them? Why are they dragging their feet on the restatement? Was the notion of an expanded BOD the best they could do to try to apease the stockholders or was it a mandate from the SEC. Perhaps the SEC suggested that as a minimum effort for the BOD to clean up their act.
Again, looking at this situation from the point of view of the BOD; The restatement will be embarrassing, humiliating and most likely incriminating. The Conference call will most likely be embarrassing, humiliating and most likely there will be stockholders calling in with ugly questions. Of course, this will be Shorts problem to deal with all that.
The BOD is procrastinating for what is obviously good reason (from their point of view). However, as usual, they are NOT acting in the best interest of the stockholders. I call on John Shorts to stand up and act like a professional here. This means doing what's best for the company and the stockholders regardless of the "feelings" of the BOD.
I've also been giving some thought to the question of just how long the BOD can hold back on the financial restatement? Surely the SEC has something to say about this?
Any other thoughts here? I have no doubt that once we get past the financial restatements, the stock will take off. So, the BOD is hurting every one of us with their usual antics. So how do we get the BOD to get off their reluctant butts?
Partial quote from "Stamatastamati" on the Yahoo Board,
"I sold out last week at 16, thinking Olga's departure and the default letter from Wells would provide a better entry price where I could buy back in for more shares. That didn't happen; so, I paid up today to get back into Z. The large 311K purchase earlier today was mine, and I don't have any inside knowledge of the company. I, however, believe that Z has a decent risk return profile.
Good luck to the longs! I only mention this so that people can stop thinking everything is a conspiracy."
The bashing on that Board today with the pps rising to 0.24 is incredible. Manipulators and just plain nasty people.
I am relieved to have this board to come to.
All good points B4. I guess we'll just have to wait and watch.
I did, thanks, now check yours and let me know if you have any problems.
I want to know what precipitated Olga's resignation. Certainly from the viewpoint of the stockholders SHE was certainly on the side of the stockholders and the best interest of NTRZ. I want to know if this simply came out of her frustration - dealing with the obvious issues or, is this more BOD shananagans?
I don't know how we get to the bottom of this but this is a classic example of losing good people.
Where are you coming from? Are we talking 'gut feel' or is there something you picked up on. Personally, I have to go with what I see, read, and understand. However, there is something not just...I can't put it into words...aside from the fact that David Bensol endorses him. As far as I can tell, Bensol is snake #2. His praise is like a negative endorsement. I look forward to the day when he gets shipped out as well.
Nevertheless, as posted, so far no dirt. And, brass is good.
That's a big 10-4 on Rhino's choice of Level II. I use E-Trade Pro also. It's about as good as any, and better than most. I quit Ameritrade after numerous warnings - as they kept downgrading their level II quotes. Four years ago their's was the best but now, frankly, it sucks.
Rather impressive article, Hunk. Thus far his credentials are looking very good. In particular, that kind of brass is exactly what we will need going forward dealing with a wide range of people in other countries. In other words, without having any evidence - other than judging from the results, our ex-pres seemed to me to be a lot of talk without the resolve to make good judgements and stand up for his company when necessary. I'm sure I needn't fill in the details on that. So to get a guy that has a proven track record of good sense and brass is most welcome.
Note well Santa, these are patent applications not patents issued. In addition, this type of patent (patents on recipe's) are not usually worth the cost of the patent.
One of the significant downsides to such patents is that it may prevent use of the idea and, consequently has a more negative impact on the use of rice bran in these examples. In effect, patenting such ideas locks out anyone who would otherwise be interested in putting it to good use and, purchase NTRZ's rice bran as a result. About the only scenario I can think of where having a patent like these would have merit is if a major food company want to use the idea and is willing to pay a royalty to do so.
Allowing for the possibility that these folks may have such an opportunity in mind - normally one would NOT invest the time and money to get a patent such as these applications might produce. The other alternative is to provide for the use of the patent free to anyone who purchases NTRZ product.
That, in my opinion would be the most fruitful purpose for such patents.
Regarding patents in general: Bear in mind, that the U.S. Government provides the patent holder a monopoly on the use of the patented idea for the term of the patent. The government does NOT enforce your rights. If someone chooses to ignore or violate your patent, YOU and only YOU must bear the leagal costs of enforcing said patent. So, unless the patented idea has very significant value, chances are it isn't worth the time or money. Patents these days are incredibly expensive - not only to get one but then you have to pay annual fees to keep them in force.
A significant patent portfolio can be a serious drag on the finances of a company unless they are actively using the patents. For example, I remember well when we had about 50 active patents and with the expenses of about 3 new patents each year plus annual fees (patent office and attorneys) we were getting billed around $2.5 million annually. We then decided to look at patent applications and which patents we "maintained" in a much more critical manner.
Chemists love the idea of patenting their ideas but there is a very practical business aspect of managing a patent portfolio.
Sorry LoanRanger,
Didn't mean to imply any thing about your integrity. It's just that so many times rumors get passed around...and beyond that, there is always the context that direct information provides. Thanks for the link, I appreciate it as I'm sure some others will as well.
In particular, what the link does is it provides additional information and context. For example, the date of the E-Mail AND, one other additional piece of information that I think we investors sometimes forget - the fact that Olga is in the middle of an SEC investigation. Certainly does generate some empathy for the situation there.
Thanks, and by all means, take no offense to questions like mine. I'm sure you will find that many on this board are sticklers for facts. That's a good thing.
Many try to always provide links to sources of information whenever possible...sometimes we forget, but we try.
Sincerly,
QuickRick
I'm betting your right Jester. By the way, why is this board so dead? I came over from Yahoo for another stock where the junk messages had overwhelmed the board. This board is much more civilized.
Hey Santa,
Is it too early to tell you what I want for Christmas?
"All I want for Christmas is my $2 NTRZ."
Frankly, I think your handle on this board is fortuitous. The timing should be just about right. And thanks so much for your work on this board. It's appreciated.
Sincerely,
QuickRick
That's not surprising if it's factual...any documentation you can share on that? You indicated a poster had Olga get back to him. How? written, verbal? I like facts.
Thanks,
QuickRick
Mike,
I just sent another e-mail requesting "some kind" of communication with investors. I emphasized that I'm not looking for a commitment to any unrealistic timing but that we need to hear from someone just for reassurance they are still there!
I'm hoping that generates some response.
Rick
That did it Hunk. Thanks much.
Consumer Confidence dropped more than 5 pts from the previous 54.9 to 49.3 which prompted an immediate but short term reversal in the market this morning at 10 am. NTRZ then pulled back from its $0.21 low to neutral at $0.22 on very low volume, 13K shares. The confidence drop followed a major increase the previous month. It would seem that reality is just beginning to take hold with expectations of worsening employment coming on Thursday.
State Street Investor confidence also posting at 10:00 am had a significant uptick from the previous 106.3 to 115.5. Both are monthly updates (June).
After having second thoughts, the market (DJI) took a nose dive to 8458, down 71 pts. NTRZ holding at $0.22 volume unchanged.
It would seem that the ARCA selling spree may be over?
Hunk, can you give us a key to reading the tables - each item has several ranges...
Thanks,
Rick
I took a peak at the Yahoo MB just before loggin on here - it's the samo samo 100% tripe - except for Hunk's message about this board. It's a pleasure to be here and I look forward to a lot of meanful discussion on NTRZ.