Conversation with John Davenport on Jan. 7, 2010.
There were basically three questions posed to JD. I called him today and he said he started to respond to the email that I had sent him then he decided it would be easier to talk to me over the phone.
He said someone had told him that people were posting lies on the boards about him, but he doesn't read these boards.
I told him the only thing that will change that is when a PR comes out, but that the board I was involved with for the most part was consistent with what he had been telling me.
He said the University was not going to give out any information from the R&D and that several people had called them and a few of them even yelled at the people there. He said he explained to them that SYMW is a publicly traded company and that comes with the territory. However, that is not the way to do things IMO.
Since he was aware of the questions from the email I simply referenced them to him and he talked about them. I will give the gist of the questions and the comments.
Why such a delay in the financials if nothing has changed as you have told me in the past? He said with a new accountant they have to go all the way back (3 years worth) and do everything for themselves. JD said if the one he has now doesn't get them done by either Friday or Monday he would take them to another person. The new one would cost more money, but he knew they would get it done. He thought the other would cost less and get out quickly, but it hasn't happened.
It sounded to me like the accountant was having him change a few things from past filings, but he said again that there really aren't any changes to speak of except maybe money wise. He was very illusive at this point but it sounded to me like there may be some more money than in the past. We will know that for sure when the filing comes out.
I asked if there was going to be any surprises to the OS and he again said it was still the same.
I asked him why the change from a PR way before EOY on Nov 18, to by the EOY on Dec 4, to I can't telegraph that on Dec 18. He said for me to be patient that he really, really wanted to put out the PR but he was wanting to wait until everything comes together before doing it.
I said that was the gist of my third question of him always saying for me to be patient. I said that there had been no PRs in four months, the financials are being delayed, and the pps has been continually dropping since I have been in this stock. I asked him would he be patient through all of that.
He said he understood and said he didn't want to put out a PR until everything came together, and he still couldn't telegraph when he was going to put out a PR. He then said he might go ahead and put out a PR in the next couple of days to let shareholders know that things are still moving forward and the company is still alive. I told him that we hoped he did and that we shareholders are looking forward to hearing from him through a PR and to finally have those financials.
That's the gist of the conversation, most of the other things he said are similar to what was said in the past or simply small talk or nonessential.
Striving through this huge forest of stocks to get to the right one at the right time.
