hweb2- Unfortunately a bunch of us have known this for a long long time. This is all just IMO.
The valuation is insane for a publicly traded company given the cash flows and internal organic growth over the years BUT it is all mngmnt driven discount. This, IMO, is nothing more than a private company being run by a family as a family biz and never should have been publicly traded.
That said I still hold a few shares because the technology is worth a ton more than the market value of the company even with the siphoning going on.
THAT said, it is always going to be the king's word as to what goes on and where the money goes given the shares and where they reside so enjoy the serf ride or just shake the head and move on IMO.
Gene seems to be a pretty cool father to his family but doesn't give a snot blow toward us small shareholders (again IMO) hence my comment this never should have been publicly traded.
It is worth a small gamble given the potential reward if something big changed with mngmnt and/or share ownership structure but not much more IMO.
And, one more time, this is all just my opinion. Good luck.
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
