I think long-timers are a bit confused about the investment possibilities here. Not surprising, as the company isn't helping us with that particularly.
I don't know if the stock should be going up or down or just hovering because I don't know where we are headed. But I think it is a mistake to confuse MARA today with any version of it that has existed to date. Our price has been trending to 0 because we had high debt, no revenues and ongoing expenses. And no known initiatives being taken to change at least the revenue and expense pieces. Today, we are in a fundamentally different position. We have no debt, lower expense and, for the first time in quite some time, an influx of investment $ (modest as it may be). As well as at least the possibility of some revenue from our languishing IP.
So - contrast a company with debt, no investment opportunities and little-to-no revenue to where we are now. We are clearly in better shape in that someone wants to take us in a different direction. Who are these investors? Look to the new directors is the only guide I can give. What is that direction? Don't know. Is it likely to generate revenue on a noticeable level? Don't know although I suspect the investors think so - people don't give away $3.5-5 million without some hope of a return. Will there be dilution? Almost undoubtedly.
I'd rather be invested (and diluted) in a company that has a vision for moving forward than where we've been for the last year or so. I would never put $ into this stock right now as there are too many questions. But I am taking the cautious position of holding on to a significant amount of my shares with the thought that any reasonable business model could move us beyond where we are right now (and because to sell everything at this level would, in truth, impoverish me). I think others with risk capital available to them may feel the same.
So, I can't predict whether we move up from here. But unlike some, I'm not surprised that there is some support at this price. It doesn't take much to be worth more than we presently trade at.
My thoughts, anyway.
~ yanqui
