Mr. R.P. "While I read all the posts on iHUB"
Revenue has actually declined despite apparently having the following clients as per the Chairman's letter in April:
"MWW provides substantial added value to the sale of vehicles and industrial products for leading international automobile and industrial manufacturers such as Toyota, BMW, Chevrolet, Hyundai, Kia Motors, GM, Ford, Deere and Whirlpool." Not to mention adding Rousch and Mazda.
A 10% ownership stake as of the CC is now more like 2% and dwindling. "Converting Debt to Equity is typically the reason for volume like this."
SH's have lost upwards of 90-95% of their investment as the SP hits new lows daily. .0004 today
Convertibles are being issued like candy to pay the bills.
"Institutional investor" you retired the old pref's and introduced new ones with a lower div yield, but a discounted conversion factor. This makes them even more dilutive seeing MWW always pays in shares. Have I got that wrong?
Several SH's are supposedly looking into whether legal grounds exist for lawsuits. Perhaps they are just venting, but who knows.
Voting power has been stripped from the commons and re-distributed to 4 insiders. Could you please explain how those pref's are compensatory, which was the stated reasoning?
The first A/S raise came on a Friday after the close through a filing, which was preceded by the Chairman letter and you're newsletter site. Why no mention of the raise in the chairman letter when a positive spin could be put on it? Why are the SH's consistently blindsided when you publicly stated you would improve transparency and communication?
Everyone understands MWW is a turnaround, and will need some support, but it seems you have chosen a strategy whereby you have not enough faith in SH's to be candid with them.
It might be time to rethink your communication strategy and address the SH's openly about the situation. Provide some guidance, because simply stating a contract has started apparently means nothing. Contracts began and revenue (nevermind net income) went down. How is that explained? What is the revised guidance for year-end revenues considering the delays. $4M still? You gave it once, so you can give it again.
Hope the company survives, but even your most loyal followers are starting to rattle.
"Convertibles are a temporary tool for MWW and growing revenue will cure all. Eventually, strong fundamentals will convince the market."
"we will improve our information strategy, so a wider market becomes aware of us. We strongly believe that this is a better approach to create good and sustained ROI for existing and new shareholders."
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