Hi everyone,
I've been long on this stock, in fact I own it for 15 months now. It's by far the oldest stock in my portfolio. And the performance speaks for itself: I'm loosing 67%.
Now... what should we all expect from that Company? (from now on I won’t mention the stock. I suppose there’s no reason to talk about a stock when its Company hasn’t done anything (yet). Let’s all worry about the stock when the Company does what’s supposed to do, that is: sell something and get profitable).
Look people, I understand everyone who's interested in this Company is very concerned. And what should we all expect? That's the question.
I don’t know if that’s a scam. I really don’t. I live on the other side of the Atlantic, I am in no position to go to their headquarters and look for myself, eventually ask questions, etc. Otherwise, I assure you I would have done that already. Maybe we all should write a letter to the CEO presenting our doubts and concerns. I know that here in Europe we would have done that also.
But let’s forget for a moment that every event in the past 2 years have raised a lot of doubts and stay focused in believing they’re not fooling around…
They have a very attractive business idea (the base idea is not original, we all now that, although is very attractive) but apart from that 2005 World Technology Award what have they shown investors? Nothing. Just delays and a considerable shift in strategy, which as far as I’m concerned raises much of a doubt if they really now what they’re doing. I mean, at first glance and without inside information, it looks like due to the fact that no licensees have been sold, the Company had to shift strategy and try to build the product by themselves. That’s not very impressive, is it?
Also, what are their employees? Only the directors, I suppose. I don’t know of any Company that makes it through without workforce, do you?
What about their facilities? It is also a very bad sign for a start up Company not to show their investors what they’re doing with our money. I can’t seem to find any photos of real estate, machinery, laboratories, etc, in the internet. Do you?
What about moneyTV? Why are they spending all that money in that inconsequent paid-interviews?! That doesn’t take them anywhere.
Their website? A technology company should be ashamed of having a website like that, where they don’t show anything interesting. That is, considering that their target customers are factories, I think that website doesn’t supply any significant technical information. The money they spend on moneyTV would be much more useful in hiring a website developer for 5 or 6 months. To the CEO: please spend your money in the TV when you can be proud of what you have to show.
These are only a few examples, not to mention balance sheets and income statements, which obviously we don’t need to analyze for now.
Fellow investors, I would really love to see the Company sell product, but… is that CEO capable of accomplishing that mission? Does he have the right people around him? For me, there’s only one of two possibilities: 1. that Company is a scam; or 2. that Board needs to be replaced immediately or be streamlined.
Best regards.
