He never said they were worth 80-100 million dollars.
Jonathan Sym, CEO of The Evermedia Group and STS Evermedia Corporation. "Since last year, STS's revenues have experienced significant growth. They have won key contracts and task orders as well as joining several teams with Fortune 1000 companies. I think by the end of 2010, STS can possibly exceed $10,000,000 in revenues."
And then made a qualified statement that he thought they could be worth that much. I would guess they dug through all these Valuation Models and picked a favorable one that let him "honestly" say that. But, again, you not knowing these things lead you to fall for it, and latch onto qualified and highly speculative statements. Did you ever think to ask what model they used? What market comparisons, if any? How they projected revenue? All the things you complain about the most aren't real problems, they're just knowledge gaps on your part. While Sym is responsible for a lot and has a lot to answer for, THIS STUFF ISN'T IT.
Yes they did, they did about 3 million in 2012.3 million is 30% of 10 million. Which is why this whole thing is so serious, how did they go from 3 million to nothing? the answer is poor management and the whole lawsuit debacle. Now that I think of it, why did they have 1 million in cash anyway? They must have been slated to pay HUGE taxes on that money, just another thing they messed up by not spending that money earlier to reinvest in the company.
Do you work under the assumption Honeywell and Cameron aren't on the level? Because I am reasonably confident that Honeywell, as a PTC does audit. As their are two parties to these financial transactions, your assertion is an audited company was paying people under the table illegally, and hasn't been detected, but the audit on EVRM would detect these transactions? My guess they couldn't secure the money to continu (audits are expensive) or the audit uncovered the whole Weitzel thing and lead to the lawsuit, which I am sure cost hundreds of thousands. We don't really know how the lawsuit came about.
I never accused you of dishonoring our vets, you seem like a nice enough and honest guy, but your saying this stuff that just doesn't hold up and needs to be corrected in the public eye.
Ultimately, we're closer aligned than you think, I think your criticism, handled the way the way you handle it, undermines our efforts and creates a hostile environment for legitimate criticism. The company isn't going to listen to people like me, or even engage people like me, when they think everything is an ambush.
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