Al,
Don stated that there are companies that say they won't buy from Virtra due to the 8 cent share price. I don't doubt that companies are telling him that.
Possibly every one of them becomes a customer if Virtra is $8. Possibly. But not definitely.
Reasonable people can have different opinions on this and mine leans towards doubting that the one single thing keeping Virtra from these sales is the share price. I've done some sales a long time ago and even the potential customer doesn't always know their true objection - they commonly state something that sounds good until you overcome their stated objection only to meet another. I could be dead wrong, but that's my thinking.
From the beginning, my main concern about the R/S was that Virtra has not shown themselves capable of giving the IR cover needed to sell the story that they were operating from strength rather than weakness and events of this week bear that out.
They're publicizing their goal of going to NASDAQ and that's well and good, but they still have to execute their IR strategy.
I voted no to the R/S, though truth be told I was very close to voting yes in spite of all my misgivings simply because I would like to see them knock one out. If they re-issue proxies, perhaps I may end up voting yes to the R/S. But big goals without good execution and continued mis-steps just create more and more uncertainty, which Mr Market hates and punishes.
-Pat
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