Deals and Shades of Grey.......
As it regards the purchase price that Revenge pays for the vehicles, when I invested in a handicapped-use-modified van conversion company maybe 18 or 19 years ago, they bought the flat bottom FWD Chrysler mini-vans at bulk fleet prices (200 units at a time) delivered through a local dealer (who made $125 per unit) on a deeply discounted basis, which amounted to a savings then (almost 20 years ago) of around 7% per vehicle off what would normally have been true dealer invoice. Logic dictates that Factory Five would also make some kind of significant price concession as well, based on volume of purchase.
I don't blame Peter for having problems with building permits whatsoever, as anyone who has ever been involved in an exercise like that knows just how ridiculous and onerous it can become sometimes.
I DO, however, blame him 100% for the manner in which he has chosen to convey information to his shareholders, which if taken at best is vague, easily subject to misinterpretation and misleading and if taken at worst, in my opinion comes close to being fraudulent. Further, I don't believe that I'm alone in this opinion.
If he wants shareholder confidence, which would mitigate shareholder insinuation into the affairs of the Company, then he should begin to try and earn it, because his credibility is virtually non existent.
We all understand new business problems, but none of us understand why the man simply doesn't present the truth in a factual objective manner and do what he said he was going to do when he said he was going to do it. If a problem arises, as in the case of the building permits, he should communicate that with his supportive base of shareholder longs. He owes them. That's how he can begin to regain credibility, and until then, the calls to check on him will continue to be made, which is both sad and avoidable, but a situation totally of his own creation.
Let your often promised "transparency" begin, Peter.
Start keeping your word.
I like the potential and prospects of the Company, have now invested to a maximum position at extremely favorable prices and anticipate a positive outcome with the investment for a variety of different reasons, but when the day is done, Peter Collorafi must come to understand that he has a personal responsibility to the people who made this Company possible.
It's just that simple.
