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Uni-Pixel, Inc. Message Board

  • mossbrunson mossbrunson Apr 3, 2013 7:27 AM Flag

    Thoughts on UNXL

    I saw the following article on an investment website and thought it was well written.

    One of the core ways we identify compelling shorts is to find companies where the management team repeatedly lies to investors. Among other reasons, that has been a core part of our UNXL short. Just for giggles, we went through two years of conference calls and several additional years of press releases to document what UNXL management has (or more accurately has not) achieved. What we found were 26 instances of failures or lies or both carried out by the UNXL management team. I’m sure we would have found more if we had extended our review of conference calls or press releases back even further. Included among these lies and failures are at least 8 failed products, 10 missed deadlines, and 8 instances of revenue projections that have not materialized. I wish we could say we found something to balance these out, but the truth is that we didn't find a single promise or forecast by UNXL’s management that has come true. And no, we don’t count press releases about partnering with Samsung or Targus or a “mystery OEM” as a promise or forecast coming true – these are the necessary precursors to making a product and generating revenue – they’re not successes in and of themselves (except perhaps to boost the stock so management can sell). While a lot has been debated back and forth on UNXL, this history of failure we document below cannot be refuted. Below is a compare and contrast between the promises spouted by UNXL management and the reality that turned out to be quite different.

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