While I read all the posts on iHUB, I typically do not get involved. Everybody is entitled to their opinion and I am not attempting to convince anyone otherwise. Nevertheless, I'll will get involved this time, maybe against my better judgment, to correct a few severely wrong facts.
Managment of a public company is responsible to generate sales and profits for its shareholders and make sure that it is in compliance with all SEC rules and regulations. Naturally, communication with the markets is also of crucial importance, but we at MWW cannot and will not "manipulate" the market with unsubstantiated fluff.
During the last year we have been making certain decisions that are, as we believe, very much in the company's and accordingly in the shareholders' interest.
THERE IS NO DIFFERENCE BETWEEN THE COMPANY AND SHAREHOLDER INTEREST. IF THE COMPANY DOES WELL, THE SHAREHOLDERS WILL DO WELL.
Based on tight cash flow, caused by well known circumstances over the last 2 years, the company needs cash (please see our SEC filings) in order to finance the many awarded new productions that we worked very hard at to secure with new large clients. Since traditional bank financing for small companies has literally evaporated, we decided to use the currency of a public company, namely its stock, to finance new production. Accordingly the company had to make a few simple choices:
1. Raise no funds, generate no new revenues and eventually shut down.
2. Responsibly raise funds through currently available financing instruments (convertible debt), take advantage of the currently existing opportunities and make the company profitable again.
We believe that #2 might be the version that most shareholders would prefer. Although it has caused a temporary drop in the share price, it allows us to launch new productions, begin increasing revenues again and subsequently the share price.
To support this strategy, many managers in the company, including the Chairman, the CEO and myself have in the past (and still are) been deferring salaries for extended periods of time in order to bring the company back on track. In addition the CEO has advanced personal funds to the company and I have invested significant amounts of personal cash into the company over the last few years and as recent as a few weeks ago. So, we are actually not "stuffing" our pockets, as one post implied, but actually "emptying" them as a sign of our commitment to our company and its shareholders, which by the way, also includes us.
Every Dollar we have raised has gone and is still going right back into operation, mainly production. I would hope that this is in the interest of all shareholders.
Nevertheless, all that aside, the only thing that matters is performance, and THAT IS EXACTLY WHAT WE ARE WORKING ON EVERY DAY. I sincerely hope that we can show this performance to you soon enough, so these painful days will all be a distant memory.
P.S. We will turn up communication when we believe that it will have a long lasting positive effect, so we are not wasting our resources for a potential one-day spike. In the meanwhile we are always here to answer your questions.
This message should not be interpreted as investment advise, or as a solicitation to sell, buy, or hold MWW stock. PLEASE READ OUR SEC FILINGS CAREFULLY AND DO YOUR INDEPENDENT DUE DILIGENCE.
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