When I first looked at the stock a few weeks back, the first thing I thought was, "I don't invest in companies that are losing money and restating their financials." So I fully understand why investors are staying away. Yes, if people are aware of the company, then it's not "under the radar."
But if investors stay away from any company that is restating their financials, then that creates opportunity. It means they aren't willing to look at the specifics.
There are several hurdles with OCZ, but to me, restating the financials is the lowest one. It takes a lot of time when a new person comes on board and everything needs to be checked and re-checked many times. At my company the CPAs are always scrambling to file on time, and they have no legal issues and have used the same spreadsheets and procedures for years. Anyone who thinks the OCZ financials can be turned over to someone to re-file and it will take a couple of weeks, is clueless on the process.
So the fact that they haven't completed that work yet isn't an issue to me. If they miss the August date, I will be concerned. But they haven't.
The bigger issues in my mind are financing and profitability. Both of which I think can happen. They have millions in sales. They will get financing. Companies with no revenue get financing- so OCZ will get financing. If OCZ plans to remain independent, hopefully it will be equity and not debt.
As for profitability, they have made progress on switching to a more profitable product mix - and they have a CEO that can cut overhead. I'm hoping that once the financials are re-filed, there's a buyout. But maybe they'll stay independent. I don't know. We'll see. OCZ isn't a sure thing, but I am willing to be long now.
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