BEST-POST-OF-APRIL Plow!!! RE-POSTING NOW:
"I wrote Roger an email Friday night with that exact suggestion.
Though, I imagine there is a high possibility he has been inundated with 100's of emails and mine my not be received.
My position is long as they come.
Regardless Roger really needs to learn his lesson on communication. RBSM is obviously not doing themselves any favors with their communications, and unfortunately Roger's general transparent style got hit hard due to this. But he needs to learn to adjust, he will, he simply grossly underestimated the investor pool and mindset of the pink marketplace. Roger is a energetic, ambitious, personable, youthful CEO. He hasn't been exposed to every scenario and will learn. Fortunately he has very experienced professional leading the individual subs; a well balanced management team.
However, If people sell based on this whole ordeal, that is on them. This whole thing has absolutely become something is should not have: Both the Auditors and Roger have a role in this.
But, to make the audit process equal to company value is incredibly short sighted and naive The audit is covering 2015-2017, all historical and of no interest (except maybe the 6 months of 2017) it will contain nothing of value. The companies value has gone way up since this audit period. Doesn’t include Midtown, Tempe, Morning, NSI, GRO3 sales , publishing , anything.
What it is is a required piece of paper to get to the next tier and allows access to better financial markets, a larger investment pool and a higher marketplace. (Which is critical for longer term growth.) But it contains nothing of value itself.
Paramount to success, Roger does know how to add massive company value building supply chain and growing accounts and revenue and what direction he needs to take the company to maximize value. (Ironically, the purpose of the audit in the first place.) He is executing well there, and that is that what is truly important for the long game.
So yes, this absolutely sucks and was entirely avoidable. I personally don’t think it will drop too far if their is an attempt to create a sell off; maybe some idiots will dump. Goes down much more and I’ll be buying with every penny I got. However, there are plenty of folks to are savvy enough to recognize what a gem AMFE is and there will be good support and we already already at a bottom, but it’s possible we get some stupid dip. Remember MMs are probably drooling here too and will do everything they can to push down the price some and get your shares, because they want them; THEY KNOW THE VALUE OF AMFE.
But it can only go so far. Think like buying a house on a short sale, you have to wait longer for the bank to approve the loan, but ultimately you buy it because the price is ridiculously below market value.
Q3 is the real scorecard. Period. As long as that is $3 mil or more it’s all good.
Basically the audit strategy should have been back in August say ‘we are doing an audit, it’s going to take a while, we will let you know major milestones but it’s going to happen in the background and not talk abut it. For now we just focus on building company value’ and then never talk about it, just once in a while ‘we selected auditors and have letter engagement’ and every few months a small blurb in a pr at the bottom ‘The Audit is confining, But can be expected to take some time’ until is in hand. So many awesome PRs have gone by now, overshadowed by this anomaly.
But it is what it is, Roger is taking a little damage , RBSM is also taking damage so they need to step up. But I can tell you how quickly the jeers will turn to cheers once this is over and will never be thought about again. RBSM will cover FY18 and I expect it will go exponentially smoother for all the trouble this initial slog was.
Fortunately for me I’m leaving tomorrow for a week, I don’t need to sit through ihub next week for any circular, useless wall punching that boils down to a 3rd grade schoolyard fight of words.
I invested in a company not this incredibly way overblown non-sense: The DD on it all is too easy, I have verified everything and too many 3rd parties have as well.
5-15 when the Q3 is due will be the real scorecard date and I look forward it and so much more.
Cheers all, see you in a week.
$$$$ AMFE $$$$
Have a wonderful week Plow....tuna
AI
