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  • wisemom_2000 wisemom_2000 Oct 23, 2009 11:14 AM Flag

    No responses about the Q&A?

    Interesting to say the least.

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    • [Interesting to say the least.] Not!

      The Q&A doesn't seem to want to account the perception that the company was able to back out of the V-Mobile investment for what it paid for it. One of the questions asked what they were going to do with the $1.385 million.

      [Q7. Please tell me how the $1.385 million received from the sale of V-Mobile shares will be allocated to make my investment in Secured Digital stronger?

      Proceeds from the sale of V-Mobile shares will be used to fund the restructure and expansion of the Malaysian subsidiaries’ operations in Asia. The proceeds will also provide the subsidiaries a strong financial posture to facilitate the current backlog of new orders that were secured this year.]

      There is no evidence that the company received $1.385 Million from backing out of the deal. This is being asserted by the questioner and the company seems to ignore the amount in their response.

      You have no SEC filing to hold them accountable to, so how do you know what they were able to get for the disposal?

      [The plan involved the transfer of SDGL’s income generating Asian mobile communication and security related applications divisions to two Malaysian subsidiaries (“Malaysian subsidiaries”) and disposal of the Company’s investment in V-Mobile Communications Pty Ltd. Australia at the historical cost of $1.385 million.
      Proceeds from the disposal of V-Mobile’s shares will be used to fund the restructure and expansion of the Malaysian subsidiaries to cope with a strong backlog of new orders secured between June and September this year.]

      Are you sure they are saying they were able to dispose of the investment "at the historical cost of $1.385 million"? Key phrase here is "The plan".

      • 1 Reply to now_now_child
      • I don't have anything against wisemom and this person may be great, but Yahoo message board experience is hard to shake.

        It makes me wonder when these types of questions are ignored, so what am I to believe? The question has not been answered...has the plan been executed and what was the outcome?

        We don't know for sure, because there are no filings and the communication with shareholders is not to be considered filed or referenced, so what are you going on?

    • I'm so used to hitting the hold sentiment since the end of last year, it's become habit. My long term sentiment is actually a buy based on managements recent guidance of .015 - .02 cents in earnings for 2009. The market should already be looking forward to 2010 numbers and currently our trailing PE seems to be 1.5 to 2.

      Buy if you feel the risks have been priced into the stock at these levels.

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