Numerous positive developments that took place in the last 3 months positioning the stock for $3 - $5 in short term and $10+ in long run
More noticeable progress has been made as seen from the following recent happenings at Velti
a) Hiring of Jeff Ross as CFO from Sybase (He was CFO there till the $6.8 bln acquisition by SAP)
b) S.American deal with Carlos Slim Helu's telco Claro Brazil that is amongst world's top 5 which is generating over $5 mln/month for the telco from the effective customer engagement mobile campaign.
c) Velti Media launched which will sharpens Velti edge over others going after Google's AdMob, Milleniall Media, Facebook, etc
d) Deal with Silverpop
e) Replacement of COO with appointment of Ms Mari Baker & Numerous other hirings in Sales/Marketing & across Velti
f) Zain Iraq long term contract win
g) Settlement of lawsuit with Augme and cross licensing of all patents saving legal costs and helping Velti.
h) Attendance and presentations at numerous mobile trade shows all over the world.
i) HSBC covenant waiver signed
j) Deal with BlueKai that has 12 of the Fortune 30 corporations and thousands others in their network
Add the Fidelity Investments having raised its equity holding from 8% to little above 14%. Discovery Asset Group & Columbia Wanger Asset Mgmt still holding their 5.2% and 5% holdings respectively.
Ofcourse above is based on my following of this company closely and based on my knowledge. There may be other things that may have happened that I or public may not be aware of but above seem to be all public knowledge.
Sentiment: Strong Buy
These are all great highlights, however, none of these events generate positive cash flow. That is what the street is waiting for. I'm very long and excited about this company's future but this company has operational issues. There is only one thing that moves stocks higher. Positive cash flow. If they show one iota of improving cash flows, then this stock will move higher. Until then, it is going to sit here while we wait patiently and pull our hair out. :)
this is all true, but you forgot to mention the negatives, Stock has traded like a BK shop, no rebound in site anytime soon, as everyting they have done caused the stock to crash to alll time lows so far
I am disappointed to see how management waited so long to raise just $25 mln needed. I would have rather seen them raise that capital few months ago or at this point a strategic partnership with a minority equity stake offering to either GOOG, FB, AOL or YHOO at a 30% premium.
So far I am not that thrilled with the new CFO. Will give him 1 yr to more precisely judge his performance. Initial rating is B from me.
Chairman & CEO gets F and I agree it is about time he gets replaced. Needs replacement of IR chief as well because Leslie Green is worst than a teenager when it comes to communicating.
Where's the press release on this one: HSBC covenant waiver signed. That is a material event and the company must issue a press release. I don't believe this issue is resolved. Please prove me wrong.
Hey shortie, you are losing credibility each and every day!!
HSBC covenant waiver has been signed and the disclosure appears in their recently filed 20-F.
You can also contact IR if you are that stupid and need it personally stated in writing to you.
I want to make it easier for newbies here to see what has happened in last few months. This board has way too many bashers, paid bashers, short sellers and disgruntled employees that try to scare investors with their creative postings. That is why I listed no non sense real things that anyone can confirm and realize why this stock is poised for rising.
Sentiment: Strong Buy