Really an unfortunate mistake in the PR. Undoes all the good that the PR was generating, and calls into question the veracity of anything the company says.
This is not insurmountable, but it's a definite stumble, and certainly not what I expected.
I am encouraged that the market absorbed all of the shares that have been thrown at it since this came to light (looks to be about 10 million shares that got dumped).
So, is this statement from the PR still valid, or not:
"As a result of using MyECheck's technology side by side with ACH, Simplifile has decided to convert their business to MyECheck's fully electronic check service, replacing ACH. "
"Simplifile is not replacing ACH with MyECheck. Only augments payment choices"
So, did Simplifile convert their business or not? This is a pretty basic "they did or they didn't" situation.
Unfortunate to have this come up. A bit annoying. I wonder if someone hacked a Twitter Account. Someone should contact the company about this.
Not how things should be going. So far, the news out of the company has sustained my outlook for the company's future prospects - in the face of a really crappy performance on the share price. This mistake damages the value of all the positive news we've had recently. A really unfortunate stumble.
M78
AI
