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OCZ Technology Group Inc Message Board

  • darkinfo007 darkinfo007 Apr 11, 2013 11:16 AM Flag

    Relax a bit

    I would have to say that most people monitoring this board have not been offered the position to dig a company out of a hole. It is a process and a journey. OCZ is making progress and the execution of its plan has stabilized the company a bit. What they are facing right now is just another hurdle. Don't expect a new CFO to jump in and rubber stamp the financials. If you have ever done any accounting work, the smallest error can be time consuming to correct. The fact that the old CFO is gone means that he has been drained as a resource. The new CFO should have questions and should take his time to get it right.

    Now, the new CFO needs to get cranking since funding is dependent on releasing the financials. OCZ will get their filings completed in short order. I am guessing by the end of the month if not next week, and then there will be a new established baseline.

    This is a roller coaster stock with many variables that move the pps. There aren't too many dull moments. Be smart with this gamble and be careful calling it an investment. They should pull out of this storm. They will strive big time if they can make the transition from the client side to the enterprise (no easy task).

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    • I seriously doubt if they brought in a new CFO to continue to gleam the books, he was brought into focus on cash flow, financing and making sure audit process is going. Essentially OCZ is probably saying to Nasdaq is we think we have an internal process gaining control and we would like to justify the process as long as possible and make sure nothing like this happens again.

 
OCZ
0.05-0.01(-15.25%)Dec 26 4:00 PMEST

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