Something positive is brewing...
EGMI Update: Some excerpts from The Sun will Come Up Tomorrow
Posted in December 15, 2009 by iancassel
Administrative blunders...it has been a feeding frenzy for bashers and shorts as they have had plenty of ammo to drive down the stock to ridiculous levels with little to no rebuttal from EGMI.
Shorts are a lot like cockroaches, when you see one there are fifty others under the rug and the thing you have to do is just put on the shit kickers and step on them.
The stock is back to trading at 10x the current after tax EPS run rate, with $13m in cash, no debt, and on the verge of a record Q4 2009 which will likely show 40%+ sequential improvement from Q3 2009. A normal stock would trade at a 20-30 PE with this type of revenue and EPS growth combined with a Fort Knox balance sheet.
But all the administrative blunders have drawn scrutiny to the numbers themselves and I would like to nip that in the butt.
Something positive is brewing. I have no idea what it is or could be, but I met a lot of the old regime that turned this company around back in 2007.
My male intuition tells me (male intuition= 50/50) the company is working on something else which is the real reason for the proxy delay (ie they need to include it in the proxy).
I believe his because I’ve met Lee Cole before, and he is not one to sit by and let administrative blunders take down the company he created. If it were just administrative BS, I think we would have had a new CFO/new directors weeks ago.
Something positive is brewing...
AI
