Darrengus - GREAT POST!! I could not agree more. MT needs to put his money were his mouth is.
Posted by: darrengus
In reply to: None Date:3/21/2007 4:41:18 PM
Post #of 53705
Obviously MT has made some mistakes, this we know. But there are things that he can do to restore the faith of his shareholders and his credibility. I will first post where he went wrong and then what he should do to remedy the situation.
First: The Divy
He offered the divy to force the shorts to cover and it backfired because a certain broker TDA failed to cooperate.
He says the divy was distributed to the fundacion, but noone is satisfied because noone can see them.
Solution: The divy should be distributed to all other shareholders save the TDA shareholders. The TDA shareholders will get their divy when the problem with TDA is resolved. This will do two things, One, prove the divy exists, and two, force all TDA account holders to put immense pressure on TDA or leave TDA as a whole.
Audited Financials
The problem is that MT promised them and didn't provide them and then told us that it is a violation of Panamanian Law to release them.
The Solution:
Provide the financials certified by a reputable firm but black out the names of all of the private companies. By doing this we will see that the money and revenues actually exist and bypass any violation of Privacy Laws because noone will know what company made what revenue. At the Very least the cash on hand should be certified by a Third party i.e. Bank President etc.
Pulling certs for PDRs and Stock Buyback guarantee
This buyback offer should not have even been made until the Desimplex software for PDR trading was complete and up and running. This way there would at least be a trading platform that would be visible and available for testing. Also to state that this offer is backed by gold is like stating that you have 20 million dollars. Noone can see it, noone can believe it.
What you should do is take 2-3 million dollars and buyback as many shares as you can from the current float. This will be a signal that the company believes in its stock, the value it will carry in the future and will be less costly to the company should the guaranteed price levels never be met. For a company flush with as much cash as has been stated to not take a percentage of it and buyback its own stock is a bit absurd.
Finally, If you make a promise, keep it. Don't throw stupid excuses (Scanner) out to those that you want to be faithful and support your cause. All you have is your word.
Finally, Finally, You MT, are the CEO of an American Public company, you should show your strength and autonomy as its leader. Stop being a puppet to the Panamanian BOD.
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