Some Information for all...
I just spoke with Brad - 10:30 AM, PT and, briefly, this is what he told me (closely paraphrasing him) -
Re money: They are out of money (a direct quote).
Neither Brad nor Tom have taken any salaries for the past 2 months. Their vendors have been agreeable to
waiting for their amounts due. Mgmt is, of course, fully aware of the downward descent of the s/p which will respond to whatever news that is issued. He could/would not discuss a possible date for this, but he did say he'd be "surprised" if it didn't have a positive effect on the s/p. He does not see the quiet period ending just yet, inasmuch as NVC will be filing a third amendment to their Feb. filing in a few days, and it might take anywhere from 2 days to a month for ultimate SEC approval after that.
Re: technology. Adaptive continues to work on it, for which this work has already been fully paid. No info could be shared re date of completion,i.e., they just don't know when that might be. The work, at present, consists of fully implementing the tech with all of the recommendations made by its prospective users when they were asked as to what needs they might have that were not already in the tech.
They are working full time in an effort to secure funding, about which they could not further amplify.
That's about it. He - ultimately - responded to my two e-mails and phone call and apologized for his tardiness, to put this matter straight. I have no special connection with the company generally nor with Brad specifically. I know nothing beyond that which is in the above report and haven't edited the content of what he told me in any way. So, if you have any questions of me regarding this info, that's all there is, folks;
I plan on contacting him periodically in the future, a plan which I'd recommend to all concerned. I know the inherent faults in a phone conversation vs. the printed word. I haven't included the fact that he told me that they remain optimistic, since I already accepted that as a given, as have most s/h's, I'd imagine. Good luck to all. As to my plans? I don't have nearly as much invested as many others seem to
have, so my risk is much less than most, I dare say.
As I've said before, my course of action has been, and continues to be, watchful waiting, taking advantages of specific buyng/selling opportunities as they arise.
Rob
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