WOW - copi pps is Down 93% in ~10 months ,,,
since the copi commons peaked at $0.11 , just last January ,
and yesterday copi commons closed at $0.0075 . [Which, as usual,
is No Problem at all to the 87+% UNdilutable copi 'Preferreds'.]
Probably because [according to the latest 10-Q] ,
Revenues are Down , and Expenses + Quarterly Losses are Up ,
when compared to 1 year ago ; which was even before the
6 Billion [apparently Never-Paid-For] 'call counts' were
mentioned , many times , right here.
Back then , when things were supposed to be looking great ,
even the copi execs were projecting 'cash flow neutral' ,
in 2008. And, since then, there has been mostly 'good news'
reported by the copi execs. [Except for the 10-Qs.]
But, the 10-Qs always Trump the PR's , and their expansions
and interpretations by the buyers + holders of copi's.
So, copi had to borrow $300,000 , Twice , This Year ,
at 30+% Interest + 'fees' + 'warrants' + expenses ,
and even had to pledge All exec Preferreds as Collateral.
And, it All MUST BE PAID BACK in 2009. So, IOO, we see no way
that copi can borrow Any More Actual Cash ; or even pay back
their short-term loans , without resuming massive dilution.
[Which, IOO, already began, as copi just Filed with the SEC,
via their latest 10-Q.]
Which includes :
1] Printing+dumping more 'common shares' ; and/or
2] Selling more First-Priority + NEVER DILUTABLE 'PREFERREDS'
The Never-Dilutable Preferreds ALREADY Own 87+% of copi ;
Including 87+% of All copi 'assets' + Votes. So, they can
always just 'vote' for more Never-Dilutable + Convertible
Preferreds , when useful/necessary ; without even informing
any common 'share'holders , until eventually required , in
their next copi 10-Q or 10-K.
Since copi is low on cash , and burning cash faster than ever
[according to their latest 10-Q] ; IOO , we see No Possibility
of Any useful [and certainly Not Profitable] 'acquisition' .
Here's why. Why would Any Already-Profitable Company , ever
consider 'selling' to a ~10-year cash-burner , [like copi] ,
and get $zero Cash , and just copi 'stock' , that is Down
93+% in just the last ~10 months , and very near its all-time
post-pump low , and just released its ~worst 10-Q , ever ?
extra , Sincerely .
P.S. ; IOO , the day-trader shorters are expecting copi to
drop below $0.005 , very soon. And, we agree. And, we expect
that All copi common shareholders to be $zeroed out in 2009.
Probably by a VeriSign 'buy-out' , at way less than the
minimum , to pay back the 87+% 'Preferreds'. Especially if
the 2 copi execs get an ~1-year "transition/consulting" deal.
Let's see what happens. And, maybe even 'sticky-copy' this
post , just to be Always Useful + Currently Available Info ,
to any new potential copi 'investers' , or anyone else.
If not , why not ?
