What a pathetic read. I realize some of it is blanket and protective material, but if you read between the lines, it appears that they are in self-preservation mode.
The greed is about to kick in once again. Briskie's minor market purchases were probably the head fake to attempt to initiate some buying and drive the price of this thinly traded junk to support a higher offering. I can assure you his purchases will stop now.
If you dive deeper into the prospectus, you will find all sorts of misguided, high-risk directed statements to cover their arse with shareholders.
- Continued growth could have an adverse effect on management's ability to focus on our core business. Unable to manage growth due to a lack of available management and key personnel. Financing and acquisition for such growth could further dilute shareholder value. What! We are already excessively diluted. Wallach's shelved shares should hold all the leverage necessary to raise funds and make future acquisitions as well as create stock compensation options for suited executives and management. Nice game plan with a complete lack of execution. Expect large raises, compensation and/or funds directed towards existing executives and new upper management. Growth requires payroll certainly, but stating the obvious sounds like they are attempting to justify an upcoming internal windfall. I gave up this read thru page 22, so maybe they redirected their lack of optimism, but it wasn't worth my time to continue.
Wait and see how these funds get utilized. If any of it is used internally for payroll bonuses, compensation, etc., watch out! It will show what I've been stating since Pumper stole the loot. Feed the internal beast by whatever means necessary. Only 342 holders of this stock, which makes it very easy to manipulate.
A good business model would be self supportive through positive cash flow. Wallach is heading to the well once again. Unfortunately holding with a glass back to half empty.
Keep it real!
