Fundamentally, no. But it all depends. Have to see what the filing says before we conduct analysis and decide way forward.
I will point out some key facts I work off of, which have been the premise for my selling at many of the peaks when the company runs into resistance.
One, John has failed at every projection he has made since I have been following the company. Whether they are his fault or not I will not debate, as I would argue there are both, but either way, all have failed. (Also the reason I give zero credit to his comments and would rather he depart the company or leave the seat empty during the day and let other LEADERS run the company)(Also why I would argue you need to stop using that fantasy run rate of his)
Two, the security/company displays a complete inability to sustain shareholder value. Once again, each and every time the PPS has hit any significant resistance, it collapses...Not once has it tested support and then gone higher. Call it falling, degrading, whatever...it typically takes one month to lose approx 30-50% of its value. You could blame pennies, the market, or any other myriad of reason, but fundamentally it is the CEO and board that are responsible to the shareholders.....I would argue Toole has no clue how to interact with shareholders as this is his first public company....we shall see..
Third, and arguably the most important, MANAGEMENT. I understand you have talked with John and I am sure he was well spoken and sounded professional. He at face value met all your expectations. Now step back and view the entirety of the picture and more accurately his performance. He has been at the helm of this company since inception through a number a name changes/ business model changes, etc and yet has been able to generate any significant value for any shareholder. I will give him one thing and one thing only, his is extremely proficient in navigating OTC markets and ensuring he is able to leverage other peoples money to pay his unwarranted salary and sustain his lifestyle. I know you have pointed out with others that he kept the doors open or is leveraging capital to run the company/generate revenue. Really, I honestly hope that is not the goal of traders/investors in this security...."At least we are keeping the lights on!" Is that the sentiment of investors...NO. They want a business to generate PROFIT/REVENUES and those other sexy words. Simply, John has failed on all these fronts for over 5-10 years!
There are other reasons, and as you know I am more than willing to discuss any of them in depth.... I truly believe you need to temper your expectations....John is a dud and he leads this company...as such...expect dud results and TRADE accordingly. I will say it again, he has displayed a complete lack of ability to lead this company. If the board did its job and was not greedy by lining their pockets with shares, they would do the right thing and have him removed......want to watch the security rocket. Remove the current CEO and potentially the CFO as they are hand in glove.
All of this being said, the company has churned in these levels for a long time....if results out of the 10Q are truly phenomenal, the security could easily gap to .18/.22 ballpark and not have to fill that gap as it already has the action there....
Best of luck to you!
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