"Soon enough" referred to the accounting "investigation". It wasn't very ambitious as they had said end of June and it was already the end of June. They really took it to the end of June. I will be watching but won't likely get back in as I don't trust this management at all. But I wish you luck.
This is regulation gone mad. Want I cant work out is, is this a pretty standard accounting error/minor fiddle or is there something about the cloud accounting model that the regulations cant quite accomodate?
Having used to work in Saba PS, not uncommon. But through all this I do very much wonder ... from all the acquisitions of HCM/LMS and "cloud" products in the past 18 months, was this a discovery on due diligence of a buyout? If so, the really low price of the stock seems like a good time for a potential deal to still move forward.
Exactly!!! And 271k from FY2011??? There is being thorough and there is being thoroughly inept. They watched the stock drop from $12 to $7 all over a .03% change in revenues. Ridiculous.
I think Saba is undervalued and a takeover target, so I am long the stock. But do I believe in the management of this company? Hell no. It's a trade, not an investment.