I'm glad to read that management has not left town, warburg. That would surely be an unsatisfying and unacceptable ending to this very interesting, if much too long, story. I was beginning to think that management's self-imposed extended silent period meant that they had moved offshore beyond the 12-mile territorial waters limit into international waters.
I can't wait to see what the Company's financials look like should management ever see fit to release the 2009 and 2010 audited financial statements and the Q1-2011 interim financials to its shareholders and the financial community.
Of course, little sister continues to limp along with no financials released since the interim statements for the period ended December 2007, but is that really the "business template" for any kind of future success?
IMHO, the release of corporate financial statements is not one of management's many strategic options; credible timely financial reporting is the nonnegotiable obligation of honest, competent management to its shareholders. Seeing the financial statements of a company in financial trouble is preferable to having those financial statements locked in a "black box" with the contents preserved only for the forensic accountants' autopsy.
XLENT POST warburg! XLENT! Very well written and very informative. This should be sticky posted at the top of the message board and some of that other "junk" taken down. You know of what you speak, and I for one appreciate your input. glty sin
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