No shorts on CNTF. Anyone got any ideas? sell out? I do not have a good feeling on this one. The transcript of the CC is unbelievable. Questions were good but I must say I did n't get any answers from all that was asked. Surprised it did not get ugly,,,the next one will. I have seen enough of these that indicate we won't get another one. I also can't help but think they are playing us out and someone is scoffing and skimming shares while management just says the dumbest things they can possibly say. I think you can not assume mgmt and longs are on the same side on this one. You think they would buy it back at $1 but maybe not if the goal is 25 cents. I can't buy that they are as dumb as they made this look. I can't believe they will get on a call for another round that was their last.
They asked 6 or so questions specifically around share holdr value and company valuation and the guy does not answer with any kind of comprehensive thought towards any question asked. Yeah yeah we think about that we work hard, we work hard, we work hard...we make jungle phone and dr phone we work hard. do you sell any? No are going to sell anything next q no but we work hard. We make buildings to manufacture 10 million units but... do you sell any...no...but we work hard. you do anything to improve shareholder value? no but we work hard.
Yep every conference call from these guys are laughable. The executive team either cares less about the shareholders or they are so completely incompetent as to handling stockholders issues. Either way its a bad situation. I'm betting that they know that they are screwing over the past and current shareholders and will be pulling some shenanigans in the not to distant future. It appears they are wanting this stock to crater.
Actually, the last 2 conference calls before this were even worse. At least this time the questioners were civil, and didn't ask dingdong about his limousine. It is possible that dingdong is trying to use the cash (likely via real estate) to his advantage (and not shareholders); I'm just not sure yet how he plans to do it. U.S. shareholders are completely irrelevant to them. The conference calls are just a required game to them, as are the SEC filings. I'm here just to see how this pans out. How is dingdong going to steal all that cash? Maybe use up the cash for the real estate, then sell the real estate to a related party under market value? There are so many ways.
That dingdong is a thief and blatantly abandoned his fiduciary duty to shareholders is obvious.