It was a proven scam at one point. As a result, those responsible are serving prison terms.
Today the company is not a scam, unless you believe you have analytical skills that somehow surpass those of DoD personnel who examined every aspect of this company under a microscope before inking an initial contract with them. If you truly believe otherwise, you should contact DoD procurement and try to get a job with them, as I'm sure they could utilize someone with your skill set.
No reputable investment firm would advise investing in a proven scam... unless that company had quality management that was working years for little or no pay to turn it around. An initial DoD contract, plus the Space Florida contract, would suggest there has been some level of success in that regard. Just because you continue to believe the company is a scam doesn't make it one, certainly not in the eyes of the DoD and the Florida state government.
Now, about those who averaged down on their WSGI investment. I suppose you think of us as fools, since we're clearly not following what any "reputable" investment firm would advise. Just remember how foolish we have been when more contracts show up, the share price rises, and the company continues to progress out of the abyss.
Peter Lynch was pretty much alone when he averaged down on Chrysler during their darkest days for his Magellan Fund. He saw something no one else did, and it ended up being he biggest gainer in his portfolio of stocks held by the fund, and the single stock that catapulted his fund to far exceed the returns of the other equity funds. I'm not comparing myself to Peter Lynch, and Chrysler certainly wasn't proven to be a scam, but they had serious issues and needed a government bailout to survive. Peter saw huge promise in their new product, the first minivan, and it turned out to be a huge seller and returned Chrysler to profitability.
Some of us see similar promise with the BiB and the Argus. Fools with our money, we are, but your opinion matters not. The only fool I see is someone who continues hawking their "proven scam" claim even AFTER a DoD contract. Better get on the phone with your Congressman/woman. LOL
AI
