I called first to just get a feel for him and the company, make sure he could explain all the details. He passed that test very well, he knows the business inside and out. He definitely didn't set up the company just to sell stock, lol.
I did have a number of questions to fire off, and got solid answers on all of them. I wanted to give some free advice on how to handle shorting, which is tricky because the SEC doesn't give a damn about the very illegal naked shorting rampant here in the pink sheets. There are only a couple things one can do to fight back, and they are looking into all the options. I appreciate their strategic nature of looking before you leap. As you can tell by their PRs, they are well written and thoughtful, this is no CSHD.
I asked about the expansion and getting cars loaded up onto the sight. The new deal with BMG (Boost Motor Group) will really REALLY help expedite things, within a couple weeks we could have hundreds or thousands of car listings, boom, all in one shot.
Doug was pretty sure the stock was shorted but not positive. We talked about the confusion with the other similarly named company doing a reverse split, and my thought was that started the downturn - then the MM's and shorts jumped on the downward momentum and just killed it, for multiple cycles of shorting and covering. He's still keeping an open mind and looking into what happened, as much as possible. I appreciated that he wasn't like me, saying he's for SURE it was shorted, it comes off better when the CEO is humble and doesn't jumpt conclusions without all the proof. But in my mind, what else could it be? Nobody could even remotely, possibly, have made any money flipping it all the way down like that.
I requested an earnings update in a PR, which could really help out, we don't have current numbers to work with. He said their last report did not show a profit for 2008 (revenues but not profit yet), HOWEVER they are revising this to show revenues and profit for 2008! So things are actually going BETTER and faster than they expected with going live. Everything was good news except the stock price.
I don't think I've ever seen a company with NOTHING but good news, on-track and even ahead of schedule, with no dilution, take a 98% loss in 5 weeks. This constantly blows my mind, and makes me happy to be lucky enough to get my shares at .025 and down, instead of .60.
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