Listen, I think this company has some validity to it, but not much. I think that ArgoNav is a small company that has created a wee little niche in the telematics space. They have made a couple interesting moves including hiring someone from Datacom (Even though Datacom is a tiny company as well). Heck, I even considered buying some at .12c for the inevitable swing.
But I, nor does the market, understand how a company that announced deals of 1.4 Billion and an OEM deal with VW has lost 75% of its market cap. What does this tell any educated person? From an unbiased perspective, you must ask yourself this question.
Almost every single press release has a misleading statement or a statement that has not come true. Here are the most glaring:
They have promised the Argo Nav closing "within days"
They have promised auditors (one of the big 4 no less)
They have promised audited financials
They promised 1.4 Billion in sales
They promised 300,000 units out the door in September
They promised a road show in the second week of September
The CEO signed off on each of the above statements and not one has come true????? Not one? and some wonder why people are inferring that this may be a scam?
why should the market believe anything thay say? they made their own bed and they are smart people so the question is ....WHY?
