No, I really do not know, Rao...and I too, am really frustrated...more than that...I am rather ticked off. As I sat back and thought about the past 2 years, a couple of new thoughts popped into my grey cells, as if something finally connected....Now this is only my opinion, but here it is:
I have held other stocks where there were 'problems' with follow-thru, and the credible companies always put out news about it, so that everything is on the up and up....Altria is one in my Trust for instance, and because they are upfront and honest when they get sued, or when their spin-off of Kraft, for example, didn't happen as originally planned--they told us--it became matter of fact, as opposed to top secret, or bad news. Investors trust that company, as a result of their willingmess to share the good and the bad, and the why's and why nots.
I held stocks in a company that was experiencing trouble getting enough money to move forward, so the CEO bought shares on the open market to input money into the company, to keep it going, sidestepping dilution,....money was used to hire people,and fund the cost of operating the company until they could get thier product out--it had been delayed for some reason...and instead of seeking out a quick-fix loan, that management chose to invest in the company, instead. That act alone, led investors to believe that the CEO, and the company officers were dead serious about moving the company forward, and they put their money where their mouth is....and were well respected by investors for doing so...and the stock went up to show confidence in the management.....
In this case, TKO, it seems that there are a lot of secrets, no news to explain what is actually happening with the business prospects, a lot of promises have been made,that have not come to fruition, the PR;s over the past few years say they are going to do something, and that 'something' doesn't materialize, because IMO, there seems to be more focus on the possibilities than there is focus on what is right in front of them. Instead of company officers putting money INTO the company, they are giving them selves shares as bonuses, and the tendency is to seek outside 'investors' to secure operating capital...and since the rating for the company is not the best--they cannot go to legitimate banks, and tutes, instead they go to VC's who are risky at best, in that their focus is not whether the company succeeds...their focus is on whether or not THEY make money, whether or not it is good for the company or the shareholders.
In MY opinion, I think that TKO is falling behind the competition. I think that TKO needs a big contract that provides them with short term (meaning 6 months to a year) seeming success, because I think that RP is more interested in setting things up so he can sell the company to someone else, take the money, and retire a rich man. With the shares that management is holding---shares they got for free, they could sell the company and have a nice bank account value to retire on. I do not believe I harbor a conspiracy theory in my heart...but I do think that RP and some of the other officers are looking out for themselves WAY MORE than they are looking out for the investors, or the long term growth of the company. I personally, do not see this company being around in 10 years. I honestly think, based on what I have seen the past 2 years, and have read about from before I bought in--the whole plan was to start the company, get it rolling enough, so that it could be sold....
I do not think that I am the only person that harbors some of these ideas....last year, I did not see a whole lot of people outright stating they were going to the shareholders meeting---in fact I don't recall ANYone stating so...this year there are a lot of people intending to be there. Something is not right---and now that the company has 'gone quiet'...that does not instill trust in what is happening, as going quiet usually is perceived as 'something is wrong'.
I have a friend in Houston, who used to be my broker, when I lived there....even he is frustrated as heck....and stated flat out, that the best thing I could do for myself was to take some of my money out of TKO and use it somewhere else....as things at TKO never seem to get done on time, if at all...his opinion...that is when I sold off the first 5k shares and reinvested that money somewhere else.
It is a 60-40 for me, at this moment, that i will be at the shareholders' meeting...along with everyone else who are trying to fit the meeting into their schedules...I live in Michigan...which means if I take the time to fly there, get a hotel and all that--I am pretty darned ticked off!
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