Very Negative outlook - Stock is on its way down $0.00 - IMO
That is three consecutive years of losses in a row...WOW! in 2009 they lost ($8,636,000), in 2010 they lost ($15,697,000) and in 2011 they lost ($39,198,000). How is the board tolerating such mismanagement- IMO? They went public for $170+ Million in 2011 and only have $51 million left as of June 2012. Someone please explain to me how you can lose $120 million in a year - How is that possible? Can't wait to see what 2012 shows when they finally decide to file their quarterly's. Let's not forget the frivolous spending on their legal - they spent $6 million in legal fees to settle with the federal govt for $8 Million for the NPA for FRAUD. According to their 10K they have spent $16 million on the SEC investigation and they still don't know how much they will pay out for those wrongdoings. They still have the Class action lawsuits filed against them and they are currently involved in lawsuits which they failed to disclose to their shareholders that were filed against competitors for offering competitive bids (worthless cause of action that has been struck down by the courts already) - They will end of spending millions like the RSL matter with the same results -please see Summary Judgment on June 14, 2011 in the District Court of Harris County, Texas Cause No. 2010-49166. All of the aforementioned, in my opinion of course.