I've only been watching for a couple of months but this cat has already had more lives than I gave it credit for.
I personally see no redeeming value to the business model or the Boomerang product. They continue to allegedly spend money on a phantom awards show that in my opinion will get them nowhere as far as downloads or revenue generation. The bush league "conference calls" are hilarious and have little substance except to promise.
If you look at the statements, they spent almost $3.4 million in the nine months ending in September while generating zero revenue.
This board though is the most rewarding part of my folly with E world. The blind hope by some on this board is a fun experiment in the human condition. We lose our minds because all the sudden we're sitting on 2 or 3 MILLION!!!! shares of something. "What if this baby gets to a buck a share?" We are always looking for the quick buck, the easy money. There is a reason the shares trade at 1/100th of a penny.
We reason that there is something besides the actual financial condition of the company that will make the share price move. The magic of the chart, the dark underworld of the market makers and the ever present paid bashers are what move the stock price. I remember a time on this board where someone argued that it was a great thing that the stock price was going down.
The pr centers around trips being taken by the ceo or the ever changing venue of the "Awards show".
The board itself is moderated by unobjective posters. No substance just hooting and hollaring about the momo. There is a post on the dd board about the pending financials, but when they actually come out, no action is taken.
I am getting an education in penny stocks though. Apprently the idea is to buy shares of some company (any company), then come out to these boards and hoot, hollar and imply until the price moves and then pass the bag of poo on to some naive idiot like me that fails to look into what they are doing.
Short story long, I think the company itself is a bag of poo but that doesn't seem to matter as long as the company can get away with bogus pr and issue into the hype.
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