Net profit is a step in the right direction however; it's still not enough to attract Big Money IMO. Many of you pumping here have been howling about positive proceeds and how that will carry us forward and now that we have it, it appears big money is still not interested. Looks like we're on the verge of another cyclical, quarterly swing. Shorts have stepped in smelling blood.
I did try warning the board... I hope we swing high on Q3 like everyone else (I really do) but I don't believe the Balance Sheet is ready for that yet. We'll soon see. I've been stating for 6 months now that I believe Q4 will be the determining quarter. With NextGen spinning up, I may bump that out a quarter or 2 (a lot depends on the footnotes in the Q3 report).
Now that we're on the cusp of realized net profits, I'd like to ask those of you who are actually long and vocal about PXYN to concentrate on what is really important.
1. Positive Free Cash Flow.
2. Elimination of Convertible Debt.
3. Communication/Guidance from the company (and Lack of).
Broadridge needs to be discussed. They obviously have not been put into position to service common shareholders like I or you.
Some of you just don't want to hear it and I accept that I'll be unable to convince you of this but IMO: Positive Free Cash Flow is 1 of 2 Key factors that will carry us forward. The other is the resolution of convertible notes.
BIG Money will not enter as long as we have a 1.2B share overhang. Will PXYN dump this on the common? In my honest opinion, I think we'll land somewhere in the middle. My hope is they use Broadridge to settle/transact share buybacks from the preferred and convertible holders but I think that's an unrealistic hope. A RESPONSIBLE company would have provided some sort of guidance by now.
Lockup periods have expired or are expiring now. Time to exert Caution.
GLA.
