A few things I think we should keep in mind.
1) The A@P report was not like an indictment, or a SEC investigation, or a prime time piece. It was a report compiled by a professional shorter. As such, we know that everything in the report was heavily edited to evoke fear in investors. A&P is not some idiot posting "it's tanking" on boards, he is a highly skilled individual - but he is not an investigative reporter and our reaction should be in light of that.
2) As investors, our concern is that all uncertainty be cleared up immediately. Rich has a different perspective, as his primary responsibility is to grow the company. As an insider, he knows the truth and so he may not be as concerned as investors. I'm with Bull on this one. I think that Rich will release information as it is appropriate to do so without compromising ongoing deals, etc.
Think also that there are different levels of concern
1 - SEVU's PR's have been imprecise and somewhat forward looking but without any intention to mislead - business is nonetheless booming.
2 - SEVU's PR's have been outright lies (per A@P)
3 - SEVU sales are insignificant and almost non existent and
the whole operation is a fraud (per A@P) patents, new products that can be viewed, a place of business here in this country that can be visited, filings, employees - all an elaborate scheme)
4 - SEVU has mob ties (post from A&P on SI)
I think most of us are at level one of concern.
Think also that we all need to keep in mind what the A@P deal is. He is very good at what he does but he's not a governmental watchdog agency. They are professional shorters, and very skilled at finding holes and generating fear among investors. It works, especially in a down market where fear predominates. Fear is a stronger motive than greed. It's a formula. It worked. He's bragging about shorting AMZN too.
Do I want further clarification, yes. Do I want AMEX yes. Do I want Rich to do what is best for the company - yes. Is it possible that he is doing what is best for the company despite investor impatience - yes. Do I trust him - yes - until or unless I see something that proves otherwise, which for me would be at a minimum a level two issue.
Prox.
