>>The press release (when it comes) should still get us up over 15 (hopefully - so I can sell short).
Don't hold your breathe waiting for word from IR dept.
>> Burton promised the NY Times that the 2nd processor would be up and running "by the end of the month"[Feb] in the article they did on him.
There have been promises before that have NOT come true yet. What makes this time any different? Habits are an hard thing to break. Especially bad ones!!!
>> So we have to assume that Tera met his deadline (for once) and the press release is imminent.
Not safe here to ASSuME anything positive for TERA. Missing deadlines is another (or the same?) bad habit.
>> If they missed this extended, revised, moved-out deadline - then I think Preston needs to get his resume in order, because Tera's next financing depends on having met this SDSCC milestone (they can't raise money until they run a 2-processor in SD).
Why not? I don't recall hearing that. Can you tell me where that was stated. I would think that the paper work for another PP is already prepared. When they run out of money, they just go the file and pull one out. Kinda' like printing your own money.
There is still a lot of money in the stock value since less than a year ago. Still many people holding(and good support at the $11-$12 range) on for the "biggie". Just sell more shares at $9.50 or even less now, say $7 and, let 'em sell away at will. Guess who is paying for these PP. I wonder if they would let me get in on these deals.
>> Otherwise, Tera may need to sell Preston's Chuckie Taylors to meet payroll
Or trade them options for dollars. Biff, I think you said it well in another post. Tickticktickticktickticktick how long can you hold your breathe ticktickticktickticktickticktickticktickticktick.dvd.
>> Biff, I think you said it well in another post. Tickticktickticktickticktick how long can you hold your breathe ticktickticktickticktickticktickticktickticktick.dvd. <<
First, let me say "CRAP", since we didn't clear 15 and I didn't get short. :(
Second, my "tick,tick,tick" was not originally intended to reflect waiting for the press release (which WILL come, but now too late to exploit the momentum), but the fact that after I get short I have some very interesting patent issues to share with you regarding Tera's freedom to operate (or lack thereof). The "tick,tick,tick" was meant to sound like a ticking time bomb, not time passage while we await the press release. But I hereby convey to you a license to use my "tick,tick,tick" trademark for such purposes as you may, in your sole discretion, desire.
Dammit. Why couldn't you guys give me just another point and a half!!!
>Why not? I don't recall hearing that. Can you tell me where that was stated. I would think that the paper work for another PP is already prepared. When they run out of money, they just go the file and pull one out. Kinda' like printing your own money. <
Oh, I agree with you that they'll need to do a PP or two. But those are only short term fixes ($10-20M per) and will be quite dilutitive for the amount raised. The only stable Tera financing plan is to do a big second public offering for $60+ million at 20+ per share. There's nothing written (i.e., no "paperwork") indicating that can't happen without the 2 processor working in SD, but I can tell you from having been involved in an IPO, a big secondary public, and a convertible bond offering that an attempt by Tera to do a public offering w/o a SD success will be met with a blank subscription book after the road show and a pulled offering.
That's what I meant. The company needs a big public offering and institutional ownership at 20+ to have the capital to make it. Of course raising that capital doesn't assure they will make it (I still think they will fail rather quickly), but it gives them the chance to try. Without that cash, they are circling the drain and will, IMO, be trading below 5 buck/share by 31 December.
They NEED that press release ... and they need it now while market conditions are amenable for a public financing. If the market deteriorates, all the good news in the world won't save them as they'll be selling stock at firesale prices and diluting the existing stockholders into oblivion.
Preston: lace up those Chuckie Taylors and run down to your IR department and SCREAM "SEND OFF THE PRESS RELEASE NOW OR I'M BLOWING UP THE BUILDING!!!"