I am optimistic about the future for $RXSF. It seems that they have taken all of the positive experiences from the past and are now applying them carefully. To some, there will always be disagreement, but then again, those naysayers didn't take the risk here, they don't have their own money in this, and they just don't have the technical nor business experience at the public level to make this happen. The past is brought up here more than any other board I have ever seen, and quite distastefully, because any examination of any company must include BOTH, the good with the bad. Its been nothing but bad from some. Focusing on the past now is short-sighted. Yea, disagree if you like, but history doesn't always repeat itself. Mistakes do, if you don't learn from them.
Everything now points to slow growth and careful administration. This company is in a better market than the last one. The last one focused on a "premium" market, adding biometric technology to home security products. Other than break-ins, it was more of a convenience product than anything else.
Today, the targeted use of their technology is focused on an industry that has multiple multi-billion dollar problems, and thats exactly what drug abuse and drug diverse are - MULTI BILLION DOLLAR PROBLEMS. It's also focused on a market that spends a lot of resources, both by government mandate, as well as insurance requirements to try to address those problems. My health system alone will be spending close to $18M next year to improve drug security in its 17 facilities.
I am sure this management team is well aware of their past mistakes which is over 10 years ago, because I don't see anything yet that they have done wrong here. You may disagree on how they decided to maintain and keep control of the company, but they started this, its their company, and without them, this would go nowhere, no matter how much business experience someone thinks they have. I believe the stock issues where done so they don't have to keep looking over their shoulders as they move forward. I believe all the stock issues have been blown out of proportion, without knowing the true intentions of management. I believe they needed to clean things up so whatever they do going forward gives the COMPANY the best chance of being successful.
There is no doubt AT ALL that this team has a track record of business success. MasterLock, Home Depot, SentrySafe, Honeywell, Sears, Lowes, Costco, Overhead Door Company, all couldn't be wrong. They were vetted, their technology was tested, it was co-branded and it was sold in a big way. There is no escaping those facts at all. The problems highlighted only look at the end result and they don't take into consideration any of the market effects at the time. Any business analysis has to look at the times and the money markets at the time, especially with a company that was relying on additional finding to grow. When the stock market crashed in late 2008 (at the time the former company was to get $8M in funding) 10's of BILLIONS of investments were lost - big companies laid off 10, 20 even 30% of their employees, and NO MONEY was available to support companies, such as their former company to continue operations. I spoke to Lorraine last week and she said everyone was pushing them in 2008 to grow, grow, grow, especially the greedy death knell funders. They just cared about the stock, and they had a stranglehold on that last company.
It's a different time now, a different market, and a different company. I for one appreciate their consistency and after talking with Lorraine, I fully understand why the past happened, and what a great positive and careful approach this company is taking going forward.
Anyone could easily see that after they announced the split, they started focusing on business, still with very limited resources. Its a matter of time before this company breaks out. Its no longer if.......its when.
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