Prior to my due diligence research and original APS DD post on RB back in Janurary of this year, apparently it was unknown to EDIG shareholders that Bill Boyer, CEO of APS, was employed as a "Ramp Service Agent" (AKA "baggage handler") for Alaska Airlines.
When multiple posters attempted to repost my APS DD on iHub the board moderators at that time quickly deleted it. However Tinroad reposted one of the attempted reposts of my original post in #msg-719884, admitting that he did so "in response to requests from several longs."
He stated that it was "sans some OT musings," but nothing was deleted from my original post. However, he did add his own thoughts on the issue.
As it turns out, my DD was spot on in this regard. Both Boyer and Alaska seem to have focused on the fact that Boyer is indeed what they refer to as a "baggage handler" for Alaska. This actually made the story more interesting and probably able to gain more press coverage than it otherwise would have gotten.
But let's get back to the conclusion I made in my DD... that APS is a VERY small operation and that the financial significance to e.Digital may have been grossly exaggerated.
I still believe this to be true. Out of the total cost to Boyer of about $1 million for the devices, I believe that by far the vast majority will end up with Digitalway. I happened to believe that the SEC filings show that APS will pay e.Digital for the whole project and that e.Digital will pay DW the vast majority of what it receives from APS (much like the Softeq deal).
Out of what is claimed by mgmt to be about $1 million in expected gross revenue to e.Digital, I would not be surprised to find out that the gross profit margin is less than 10% (less than $100,000 in gross profit after deduction the cost of sales, mostly due to Digitalway).
If that is the case or close, I will feel totally vindicated on my DD and conclusions.
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