maestro's Podcast rebuttal
This kind of reminds me of the US politics, where if you only have one side of the story you would believe just about anything that is said. So Mr. Meller had some wild claims and half truths in this Podcast, that I really believe should be cleared up!! We all know how Detective Robert Thorne insists we keep things 100% truthful here so here we go!!
Claim 1) Sales have increase over 50% to $10.5MM!!!! - Maybe get a calculator and realize that this is 40% plus!! The otherside of this equation is that they have significantly increased SG&A costs over the past few quarters so nothing comes without a cost!!
2) Operating Profit is 800K, I can not find any fault in this!! if this is true, then congrats on making $500K OP on about $3MM sales
3) Past 12 months O/S reduced from 8 Billion to 116 Million!! 100% false!! Shares Increased from 8 Billion to 14.5 TRILLION SHARES!!! Did we forget to mention that little 1811 for 1 r/s?? Hey if you bought back stock then toot your own horn, but really how is this a positive.
4) Past 12 Months Debt Free - Yes this may be true, but the debt of this company was held by insiders and venture capitalists!! They chose to convert all this debt at a PPS that was per the CEO words not indicative of the value of the company!! This Debt was accumulated in lue of salary, so instead of paying Mr. Meller $245,000 Annually plus expenses, it cost more like 5 or 10 times this amount depending on how undervalued you believe this company to be at the conversion price of $0.005.
5) Apparently this represents a great buying opportunity, well you can not tell the market how to react, and with two day of no trading, and a bid of 1.2 cents maybe not!!! Possibly if you were given the entire company for a few years of parttime work you would feel better about it!!
6) Mcap today is less than $2MM - Hey maybe get a calculator for Christmas!! 4 cents by $116MM is $4.64MM, I will give him the benefit of the doubt that he was referring to the bid price of 1.2 cents <<Rolling Eyes>> as he has been nothing but 100% truthful so far!!!
maestro
