This interview is actually a great listen. I didn't realize this had to do with StudentConnect implementation in CA. Looks like the older PR regarding StudentConnect in CA (Napa) is coming to fruition, as is also occurring in other states including GA, SC, and LA. I must say that this is the most positive movement and momentum with the StudentConnect technology that we have seen to date. This type of progress in such bureaucracy such as the education system is very impressive actually, and does not happen quickly. I applaud Kaye and the company for this tremendous objective progress that has been made.
I still have great hope for the future of the company and the products they have built, as they are clearly making progress with capital raised which will hopefully turn into revenue and cutting debt. I have still never sold any of my shares and I don't plan to because I think there's plenty of life yet to be revived in the stock and in the company, as long as Kaye plays his cards right.
However, as we can see, the stock remains in limbo at the lowest level it can drop to after a huge reverse split without even a bid despite massive shares being traded/dumped daily, presumably from toxic financing. No one is going to even think about investing in this company until Kaye begins to prove that current investors can still benefit from their investment in this company and makes a comeback for them. In order to attract new investors, he needs to show more respect to current investors who have lost a huge amount of money (including me). He needs to stop assuming that everyone who has invested in the company did so only for trading and short-term profits rather than in the company itself. This is absolutely false for many of us. He needs to show respect and honor his word by increasing shareholder value (but not by another reverse split), increasing revenue, decreasing debt, decreasing overinflated salary and bonuses (current amounts reflect poor character and business ethics given the cash flow company status), stopping dilution, and proceeding with share buyback or cancellation and eliminating much of the share structure (not by reverse split). Until these things happen, the stock is stuck and will remain so, no matter how good the news is.
He needs to put a stop to this excess dumping daily to no bid and stop relying so much on toxic financing because it has killed the stock, and continues to do so on a daily basis. He needs to avoid yet another reverse split. If he does another reverse split, there will be absolutely no recovery possible for current shareholders who helped him build this company to where it's at. Those shareholders would haunt this company and stock forever if that was the case, and they would continue to aggressively try to scare anyone away from the company, and rightfully so. He needs to especially look out for those early investors. Regaining value for those investors and showing respect will build confidence for future investors to get involved.
I don't see Kaye or the company as a scam. I see them as a company who has had great ideas which are just coming out of development and growth phases, as we can see with the recent student connect implementation in multiple states. I think this is only the beginning of a great and positive adoption of the technology moving forwards. However, to move forwards with attracting additional investors in the company, Kaye needs to reconcile with current investors who have funded the company and sustained great losses as a result. He needs to regain their shareholder value and not decrease it further.
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