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Wednesday, September 18, 2019 6:24:04 AM
No matter how you want to play this information - an "oversight", an inconvenient truth unshared, whatever - it was, at a minimum, intellectually dishonest to not only allow but encourage through its PR the belief that dilution due on notes was over for the immediate future. In my book, that just stinks.
If the 20 mil dilution we saw today is correct, that equals somewhere around 100k. How much was the note worth? Are there more lenders we don't know about who wouldn't accept payment? 100k was what was owed on notes due Aug 13. Was this dilution those? We were led to believe (even if only by logic and vague-but-promising PR) those notes were taken care of. What and when is the next shoe to drop...the next "oops, forgot to mention..." we hear from management?
Shady. I can't find it anything but shady and, if not completely lacking in truthfulness, certainly lacking in candor. At least now we know why an 8k wasn't issued. I mentioned in an earlier post why the company's word alone wasn't good enough for many investors. Now, it's not good enough for me either. I am not going to say their PR is worthless, but to me, from now on, it is only slightly, marginally better than if they had stated nothing at all. Legal filings is the only news of theirs I will put faith in going forward.
And what does this say of the Acela acquisition? I am not bashing here, I am truly not, but are there material events occurring with that as well that will lead to later "oops" statements? I have no reason as of yet to believe there are, and I certainly hope there are not (I am still long...for now), but who can say?
I am now about 17% down after today's fiasco. I want that money back. If I can do so Wednesday, I stay in until at least I am even. If I smell one hint of dilution, I am gone. I am a newer, smaller trader, so I don't pretend what I have to say counts for much in this community, and that's ok. But I am angry and frustrated by the company's actions, and I think everyone else should be as well.
This is all assuming, of course, that what $mart_Dinero posted is accurate. No offense intended, my friend, just so many agendas in the ihub community. I wasn't on the call so it is second-hand knowledge to me.
If anyone is of the opinion I am blowing this out of proportion and is willing to relate why, I am, as always, happy to listen.
All IMHO, and GLTA.
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