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Wednesday, October 01, 2008 9:22:37 PM
I bought UWNK shares at the top, and have continued to buy them up to about 6 months ago. I find myself now in a position where I could afford to buy the company, but frankly they are not worth 10c.
To make it even sweeter, they have no debt! Debt is a poison pill that usually makes a takeover difficult.
I once worked for a company in the transportation business. They had a problem that required a technological solution. If you want to know, it was in Yard Management. A PITA in transportation and a money-saving app. After much digging (there was nothing on the market) I found a beautiful solution at another company. Not a competitor, but a blue-chip company in another market. I thought.. beautiful.. I would make my mark. To my chagrin, they would not do it. Reason: they wanted it for themselves, nothing else. They did not want it getting out there for competitive reasons. The license fee income meant nothing to them. Likewise, why should Chilis support uWink when they could have it for themselves?
This goes beyond normal business reason. Why should Chilis not take this for themselves if they can? They know that uWink needs a deal... they will use this to their advantage in their negotiations. why not go all the way?
btw the usual dynamic is this: the customer wants the vendor's development resources to be dedicated to them, not to another customer. They want exactly the functionality they want.. why not just buy them?
In it's current position, uWink is exposed to every blue-chip vendor or large customer that decides they want them.
Just a thought...
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