ezxccsc - I know what you say to be true. Travel has already backed you on the matter, for he received communciation from the company eariler.
Posted by: travel489 Date: Wednesday, June 04, 2008 9:16:39 AM
In reply to: AMERICAN_PSYCHO who wrote msg# 179022 Post # of 180284
AP / Ezxccsc--
I can support what has been reported. I posed many of the same questions to Tom last week (Tuesday) and promptly had a response from him Wednesday morning. I did not 'report' what I was told as I did not have a link showing the $1.5 million going to Wisebuys. So, I have been searching ever since.
I am glad the IR was able to add more clarity to the message I received from Tom.
We all know how skeptical some readers are of e/mail communication with the 'boss', so reporting what I learned without a link would have added fuel to a speculation mill that is already on fire. But now it has been clarified.
What is important is that we now see that the taking of the GSCR shell had its merits on a business level. That is, price paid was much less than the going price. What we still need to have more clarity on is the convertible CD issue and the affect on outstanding shares. And, is there any way to resolve what has already happened. History is history.
This would not be the first time in history that a company has addressed significant issues by working its way out of the situation by working a good business plan.
One only need to look at the performance of stocks like TEX, BTM, ATVI, TEO…and my list could go on and on. Each of these stocks was in the tank at some point in the past and for a variety of reasons…and, all have ‘worked’ their way out of their problems.
Did they do something ‘special’ for shareholders…no, they just worked hard to turn their business and performance around. And, these are companies that have been around awhile, have history, have data, etc. They are not start-up companies like SWVC.
Did they use buybacks, did they issue dividends, did they wave a magic wand….no, they executed their plan just like Tom and SWVC is doing these days…they each grew their business with increased sales and hard assets.
Just look at TEX, if you had bought a share for a few bucks a few years ago, you would have seen it rise to $100, split 2 for 1 and then rise to $100 again…currently trades for $70…so, $140 return on a few dollar investment in just a few years is not so bad. And, guess what…no dividends, no buy backs, etc. anywhere in that strategy…just a lot of hard work.
Enough…let’s let management get back to work and do what they need to do to make us successful.
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