Hello spdracer and rkor,
I received a very nice email from them in response to my inquiry about the status of pswr and will include it for you below. I am holding because I am way down on it and there is no activity right now. But I am so hopeful that somehow it shows life again at some point and things go great for the company. Good Luck to you all. GO PSWR!
From: Carl von Bibra <bibra@compuserve.com>
Subject: Prism Software
To: xxxxxxxxxxxxxxxxxx
Date: Monday, November 8, 2010, 1:37 PM
Randy,
Prism is a very small company and I’m sorry we didn’t get back to you sooner.
A short history of Prism is in order.
The company is traded but is in non-reporting status so we don’t release financial data. We went to non-reporting status for a few reasons. 1) We qualified. 2) SEC auditing was costing us a fortune relative to our company size 3) Our competitors were using the information to convince our customers not to do business with us. Because of #3, we have been very cautious about releasing information.
Our last publicly released data from a few years ago showed a company with consistent losses and a ballooning debt. The amount of debt last shown cast doubt on the company surviving and the value of the common shares. A bet on the common is a very high risk bet as it assumes that the debt holders will get repaid or not demand immediate payment. This is not to say it is necessarily a bad investment but definitely very high risk. On the plus side, the company obviously still in business and the company portfolio of products and relationships has it well positioned right now. I am the second largest shareholder and the second largest debt holder. Neither I or the largest shareholder has sold any shares. I have no plans in the foreseeable future to sell any shares. On the other hand, the stock price suggests that we are not clamoring to buy more shares.
It is not my position to recommend buying or selling as for starters I don’t know your financial situation. Our last released 10K is available I believe online. Although old, it will give you a reasonable view of the company. I would say HOLD is a reasonable position for a typical investor.
Sincerely,
Carl S. von Bibra
Chairman
