Tuesday, July 17, 2018 7:47:01 AM
They said they had a revenue decline in the US from “a major customer”. If that is Universal I’d be worried. And their increased marketing spend is directed at this declining area, with little color provided.
The narrative they are spinning is that they underinvested in MPE (true) and are now “correcting” that. But it’s not clear if that effort will pay off (eg is it too little too late).
Fred seems ok. Although if he really was concerned about the stock price and thought he was cheap they could BUY BACK STOCK.
They could retire 20-25% of the share count with their $2M cash balance, AND clear out the Steve overhang.
Seems like part of their strategy with Steve is to allow the share price to collapse to starve him of cash to litigate.
They would never be able to say this.
Interesting situation. I don’t see a reason to unload at these prices but not a screaming buy that’s for sure.
My sense is lots of bad blood w Steve. Hopefully Fred and the board swallow their pride and and do whatever the right thing is.
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Caller: But why did you back away from your prior guidance?
Eric Kelly: I am sorry? Hello?
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