The Facts so Far - will cooler heads prevail?
1) The circumstances that we are currently experiencing is beyond our control and there is literally nothing we can do or should do until it plays out.
Peter on company letterhead assurred (promised?)ihubbers that although some paperwork has been filed for a RS, that the AS would be substantially reduced - proportionate to the shares RS.
The filing is good for 30 days meaning the split must be executed BEFORE the debut and press conference. With a simple filing fee he can re-submit anything he chooses to...
Performing the RS without substantially reducing the AS is tantamount to putting a stop sign on stock sales. Who the hell is gonna buy stock with less than two million OS and an AS of 2.5 Billion???
2) A proportionate RS leaves us with what - 2.5M AS and OS of 2M?
Consider a past pr or update from Peter outlining how anticipated sales will more than cover prototyping and manufacturing costs. Thats susbstantial.
A pr following the highly successful GTM-R debut could include solid sales and satellite location announcements. The idea here is (the pump of course)would be to assign value in dollars. Could RVGD already have in excess of a million in sales? Again an update on FFR forum has hinted we have a GTM-R client already. 10 - 20M sales contract possible.
3) Like it or not we may already have partnerships in place in addition to FFR. Peter could not have come this far with the little bit of money he had to work with.
4) Pr's announcing new deals with new companies in addition to what we have with Pontiac and Honda. We will be showcasing 2009 models.
5) Peter has let us know in addition to GTM sales has also booked a number of builds for this winter.
6) With a 2.5M AS RVGD might be a prime takeover target with a low pps under a dollar? Even with AS and OS of Five to ten million would make us a nice company to snag. Hottest car of planet for 2009?
7)Current assets including the three completed GTM-R's building, inventoried parts etc. should be worth a million dollars by itself.
Last but not least consider that Peter did NOT have to respond to ihubbers and probly against the better judgement and advice of lawyers. He did anyway despite the fact that the RS news he gave SHOULD have been released by pr since the information he gave was not in the filings (public information).
WAs Peter actually thinking about his shareholders giving them this information? Since that is absolutely nothing I can do about the situation except sell and cry, he let me know that despite whatever crap the pps goes through with the RS - there should be no real reason for alarm. Simply sit through it.
Knowing the OS and AS post split is a huge bonus in my way of thinking. While we have way less shares, there will be a total of only 2.5M AS. Easy enough to turn over entire OS in a days trading - pps volitility. Will the GTM-R activity generate stock sales?
Handled properly and in conjunction with the debut and publicity there exists the possibility for the debut to generate a complete turnover of OS a few times in a relatively short amount of time.
Think about it. Peter has a chance to pitch the company (and stock) to an international audience. Here we are thinking of our shares as toast and worthless, when there is still a more than reasonable chance to be in the dollar range if RS goes as Peter says.
If such a thing ever happened, a forward split seems more likely to help reduce share price and make it more marketable. (Hey if you're gonna DREAM LOL).
Given that I have no real power to change the situation I have a choice to make to dictate my future actions....
a) Give Peter the chance to do the right thing for ALL involved and lend him my support and best wishes for a successful debut.
b) Not wait to see what he actual does but assume it to be the worst and run him and the company into the ground all over the internet - thus killing any chance we might have had before it even begins.
Sure Peter is a POS when it comes to what we investors want to hear from him but performance wise the man HAS delivered a whole lot in ONE year.
Its been a journey for both company and investors and now that we are just a few steps from the finish line, a lot of us are quitting.
I've not a lot to gain from quitting and shooting myself in the foot by ruining the company before the debut.
My letter to Peter (through Emily) will not be one of bitching, but to congratulate him, wish him the best at the debut, and that by performing a proportionate RS prove himself worthy of my trust AND further investment.
If he does what he says, I will double my position immediately after the split (hopefully at reduced prices)LOL.
Like it or not, it appears the man has built a real company from the ground up and kicking out a first OEM production vehicle in the very first year.
If he dont wipe us out, one could find worse stocks to put money in. Time will tell, and in a very few short days (30 days from filing).
I hope others who feel the same way will chime in, and those wanting to flame this post go ahead. Lets be smart about this thing and not bury the company.
NINE MORE DAYS TILL WORLD DEBUT OF REVENGE GTM-R,EIGHT DAYS AT THE LATEST FOR RS TO BE EXECUTED. WATCH DAILY FOR NEW FILINGS, REVERSE SPLIT LISTS AND ANNOUNCEMENTS AT OTCBB.COM
GLTA-P.
Like to see that letter from peter to ihubbers on the ibox if it aint already there! That and the RS filing. Will Peter hang himself with his own letter, or do what he promised? What say ye board?
