For any who have chosen to follow up on my post and speak to management, here are a few random thoughts that I feel might be helpful.
I still believe that Dennis is honest and believes in his product and the business. I'm not sure that Dennis is totally in control perhaps with respect to this DeVries character. It's a CEO's job to be totally in control and there should be no question that he should know if there has been dilution and dumping. I believe Dennis when he says he personally hasn't been selling and that there has been no further addition to o/s. However, I await confirmation that this is true. Personally, I am very busy until mid-January and will not be able to track him down as I would like to do. A lot of my own DD is labor intensive and, unfortunately, this time of year brings many real life issues to the forefront.
If anyone is calling Dennis, and I would not bother with DeVries at this point, my recommendation is to be civil as he may be our ally. It is much better to convince a CEO that he shares long term interest with us. Create a "win-win" situation. Most CEO's have at least one "advisor" who is telling him not to bother with retail shareholders and just be concerned with how many shares they can dump. Dennis led me to believe that he disregards this type of advice and is not interested in selling shares until they get back to where they were in August or higher. This does not mean that one should not ask the obvious and probing questions relating to the capital structure and I did.
Bottom line for those who try to reach Dennis
1) Don't waste time on the business plan. Almost anything will pump the price up if there has been no significant dumping and dilution.
2)Don't waste time with DeVries. He may be the problem and he never returns calls anyway.
3)Dennis needs to know that doing whatever it takes to get MM's to file under Rule 2-11 is job one as far as getting an orderly, liquid and fair market, as opposed to the pretend quotes we see every day.
4)Until that happens, an immediate PR with actual o/s, restricted (with terms) and float, WILL cause the share price to rise.
My reaction to yesterday's PR is that it was good news but, given the history and the trading volume, even if they announced that they found gold in their lofts, the share price is not going to rise significantly unless they prove they have NOT been dumping and diluting.
OTOH, as this is trading as if the float is 200 million or more, if the float is really 20-40 million, then the stock is almost an immediate multi-bagger if they can prove that there have been no significant changes in the capital structure. "All or none play," is what I often call these. Know the risks and the rewards. Their is a price to pay for certainty and right now there is little of that in this price.
AI
