I actually talked to Bob on Tuesday after the news was put out about the LOI. If you leave a message on his voicemail, he has called me back every time which is nice as it shows he cares about the shareholders.
Surfer you are right on, he explained that they did not necessarily want to put out the PR on the LOI signing as they did so with Mondak and Devoe last year and the market changed, making those acquisitions un-attractive so they opted out. After that, they made a policy not to make any announcements in the future unless it was a material event, which an LOI although is exciting is not, completing it was and binding. They are being allot more cautious going forward ensuring they are not putting out PR's every time they breathe in and out.
He pointed to the progress the Company has made this past year to position for a move up, although the slump in the market has been a challenge that was unforeseen, they are determined and had made great progress, most of which he could not talk to me about.
He also said the Notes that are converting out now were expected to be paid off before they matured. But because the Industry is down, they cannot take any revenues from JD for Corporate uses as they are fighting through the slump as well. He said it is hurting everyone as he only has 500k shares himself, and that they are trying to do something about them, but couldn't tell me what.
Overall I was impressed with his demeanor and although cautious of what was said, sounded upbeat about the future which is what I was after by making the call.
If anyone doubts the sincerity of this Company and Management I encourage you to give him a call, this is the third conversation I have had with him and I can attest to the motives of the Company are with good intensions.
AI
