Waikki_Kid
I personally feel that management at Nexicon has not concerned itself enough with maintaining shareholder equity. I know everyone says "There building a business and focused on day to day operations." The problem is that I didn't volunteer my money so the individuals at Nexicon could enjoy drawing a paycheck. They asked for money with the promise of making it worth a lot more money. Anyone who says they invest in a company for any other reason is lying. I understand that if they build a business and focus on day-to-day activities then the value of the company will increase which equates to increased share price. IF they actually tell you what their business is and how much money they are making (ie. financials).
The agreement is, they would use my money to make both of us money. What I've seen is negligence on their part as it relates to share price. What I've heard is that the company will be "transparent". Reality is they have shutdown the lines of communications since Sam Glines joined the company. I've heard statements from him stating that he's working on financials and filings. I've seen nothing to this date. We've heard nothing. Tommy posts info on their website that gives zero indication of where this company is heading. They have an agreement with YouTube but no one knows if it pays any money. They have a website that collects money for infringements but no knows if anyone is paying. They hired sales people and the only thing they've done is license their product to a self help guru for an unknown amount. How will it generate revenue? No one knows.
I would love to sit here and tell you that I'm long on this company but I'm really beginning to wonder why I should continue to wait. I watched this stock slowly sink to <0.02. The only real news that has occurred wasn't put out by the company. They have increased the outstanding shares by an unknown amount that will eventually end in another reverse stock split. Does anyone really think that this company can make it's stock worth anything when there are 900 million shares of stock on the market. If this value is wrong then show me the real number of outstanding shares.
If Sam wanted to let the shareholders know what was happening within the company without press releases he could use Shareholder Development Group(SDG). Nexicon handed shares of stock over to them in exchange for services. I would think transparency on efforts and timelines could be discussed. Instead, the only time Sam talks to SDG is when I email Tony Golden and ask him when the next Nexicon interview will occur. The interview that occurred in Nov, Dec and Jan were all done after I emailed Tony.
"We are pleased to license our technology to the personal growth industry as we have extended it to the music industry via PayArtists, to film studios, the U.S. government, electronic games, publishing, and others," stated Glines.
Supposedly, Nexicon has signed several agreements but there have been no news releases. If this company is generating revenue then tell the shareholders. While the management is making money, the shareholders continue to lose money. How many people have purchased shares of Nexicon at a price below 0.02? Very few people and the number will continue to go down as the price continues to go lower.
Financial statements? Revenue? Costumers? Exchange Move? I've heard how great the product is but what good is that if they continue to draw their paycheck while not telling anyone what's in the bank account? No one knows how many shares are outstanding. No one knows how much money is being spent. No one knows if any money is being generated. No one knows how many employees there are.
Why is the 3 month average trade volume over a million shares? Who is buying and selling a million shares with no change in share price? Bottom line, I believe a letter to Nexicon is warranted. I've heard Sam say something is going to happen is 2nd quarter 09. But I really doubt it. I think the only thing that will happen is paychecks will be given for zero results. Maybe Sam can get a bail out like AIG or a jail sentence like Madoff!!
Sorry but that's my feedback.
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