Having said all that, it doesn't concern (LOL) you in the least bit that your beloved company may be managed by individuals with the propensity to embezzle assets from the company and disregard standard accounting procedures?
Actually, can't that be said of all companies in existence? That they "may" be managed by crooks.
What would concern me would be clear warning signs that such embezzlement is likely happening. Things like large purchases by executives that clearly can't be covered by salary. Or a real smoking gun being found.
"Show me" works both ways. Something being a "possible misdeed" doesn't concern me. A "likely misdeed" does, and I'll want to verify for myself. To the extent possible, which is usually very tough.
So if the executives of a company chose to divest of an asset (one that could only be acquired by accredited investors?)while it was comparatively worthless and that asset later was proven to be very valuable, I'm gonna think that was very stupid and will suspect that the executives lack the vision to make the company successful. Same can be said for the many internet companies that paid huge amounts for assets that later became worthless.
Now if those same executives are suddenly living in mansions and/or driving really fancy cars, then I'd suspect embezzlement or that the company sold the "worthless" assets to the execs who later sold them for great personal enrichment.
But if that's not the case, "bad move" is just as likely an explanation as "fraud".
I know extremely little about the company in question.
I do know that the conduct of a number of longs (complaints about "bashers", demanding their removal for "lying", engaging in personal attacks against them) are all things I've seen many times before and the conclusion is really ugly and it's consistent. A couple of elements I'm not seeing (so far) are claims of a "huge naked short" and allegations that the message board operators who refuse to remove the bashers are part of a conspiracy to drive down the stock price. Add those (and just a few others) to the mix, and you've got all the elements that've predicted trading halts and/or sub-penny trading with 100% accuracy in the past.
On the other hand, I know that you are very clearly implying the likelihood of embezzlement (I don't know whether you've presented any reasons to believe it's happened). I know that if it's just a matter of "that's one possible explanation", it certainly doesn't bear repeating ad infinitum and until a clear case can be made for it being likely rather than simply possible, it doesn't warrant a lot of public energy until such a case can be made.
I also know that people say that they can just call the company and the CEO will either always come to the phone or just may answer it himself. I don't consider this "a good thing" in a company whose market cap has been in the billions. But I also don't consider that something that's "likely" to happen if the CEO is personally so rich that his own stake in the company (isn't the float about 95% or more of the OS?) is meaningless to him.
So, I just wasted a bunch of verbage and will just summarize with this:
What I did say is the possible asset embezzlement and accounting irregularities are a matter that concerns the SEC. Concern defined as the SEC is the agency who is charged with handling these matters. Just as suspicious individuals in your neighborhood are the concern of your local law enforcement office.
Having said all that, it doesn't concern (LOL) you in the least bit that your beloved company may be managed by individuals with the propensity to embezzle assets from the company and disregard standard accounting procedures?
Might you be beating a horse that hasn't been born yet? If so, and I were a shareholder, you'd draw my ire, too. I would just express it in a more mature, credible manner than the ire I've seen displayed.
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