Important:Wick, and everyone else
Being a shareholder for so long in this company, i cant even remember how long its been, here is my perception.
I remember when i first bought shares. This was supposed to be company that was going to compete with NFLX and eventually BB. I remember the excitement from the first days of the announcement of the website. I invested a ton of money at .05 and again at .10 (and should have very well cashed out when we hit .15). However, after speaking with JF, i thought this was going to be the biggest competitor with unbelievable growth that had ever existed in history. I got too far ahead of myself. I didn't take into account that when i invested, this was an otcbb stock and there were only 5 employees with no money and a long road ahead. From what i heard and was told by JF, over and over, growth would be great, AMEX within a year, breakeven soon, blah blah blah...
I too have become extremely skeptical with what JF continues to do. It does not seem that he has the interest of shareholders in mind. He continues to dilute the OS even with enormous amounts of cash on the balance sheet. Why wont he focus on the business at hand? Why another dilution deal with Golden Gate? How can we ever get back to previous levels with dilution? How can we get to the AMEX with such dilution? And oh so many more questions that he will not answer...
Unfortunately, i have not been the wise trader that many here have been. I am down over 17k on this stock solely because i put too much faith in Jf and his convictions. While i do not believe he is a crook, i do think he has made numerous errors along the way and has continiously let investors down.
I am not happy with the OS, the increasing dilution, the disregard for shareholder value, the lack of transparency of the company's future operations (maybe not JF's fault), and the continued ridiculously slow growth (3k subs to less than 10k subs in 2 years), with substantial operating losses and huge exec salaries compared to operational performance.
I dont blame anyone here for their heated debate, disgust, or vehement dissaproval as JF has not performed to shield himself from such attacks. Although, I do not approve of those who are here to discourage and manipulate for their own gain.
I too am conerned with the dilution. I am tired of investing in this company and having its CEO igonre my support by diluting my ownership infinitely. It is time to take a stance and it is time for JF to deliver.
Wick - you asked about a cap. Here is my opinion. 5-6 billion is as far as i go. That's it. He has enough cash on the BS to pursue many opportunities. I would almost rather not see a supposed deal with Target if it meant he was spreading the company too thin. After two years, its time to see substantial growth. Do it with CC and do it with controlled growth without the need for more funding.
Uh, there is so much more i could say but i'm tired of typing.
In an effort to shutup and bring this to an end; Wick, You know i hold no more respect for anyone here other than you when it comes to this company and DD. I have always appreciated every ounce of input you have ever divulged publicly or privately and your DD is unmatchable. If i had half your DD ability i would be able to make 3-4 bagger returns yearly.
I am however very worried about JF's intentions and his increasingly limited loyalty to shareholders who got him to where he is now. I'm down 75% over the last 3 years. It's time for him to give back and that can only be done with no more dilution. I WANT TO SEE HIM TAKE CARE OF THE AMERICAN INVESTORS WHO HAVE NEVER SOLD A SHARE, rather than yap about how the EURO investors are so much better. I have been loyal to this company since the PGHI days and believe i am owed something in return. I do regret that i have not traded this many times over as you and other have but have always been a big believer in JF and his high hopes. No one's fault but my own but i'd like to see something for my continued loyalty and patience.
Thanks for listening to my ramblings. Just the thoughts of a long term investor.
