Well, I said about 4 years ago I had an end game in this. Only the few from the old days will remember that .And this. Me and 7 others were angel investors in Smart Systems. We invested about $750k in it in 2000. The founder was one of the most sucessful men in Silicon Valley, starting several multi billion dollar companies and we were thrilled to get into this one. Unfortunately, he died a year and a half into the venture. SS's was then aquired by TKO. My personal stake was $100k. The end game I won't go into details, but I just now sold all my shares in this to take a long term loss against a long term gain. To all the longs that have endured this stock, I wish you well. To all the village idiots that have come and gone, well, I wish you well too!
"this is the END. I am going. I am leaving now. GOOD BYE.", Billbo Baggins.
The reality is that this company of four years ago doesn't even resemble the complany of today. What was is no longer; the resurected company that lived on energizing electrical lines is long gone and forgotton. I can remember when the company energized the Queen Mary in California; making all electrical socket live with multiple uses. That was the old company.
Now, the company has morphed into a completely different company that unitlizes a completely different product line.
The truth is that the old company, if run properly, could have become something special. However, the lead Angel was not, nor ever was, a qualified CEO. He was incapable of seeing the company grow or take advantage of their unique position in the marketplace in the mid 2000's. Hence, the failure of an idea, a brilliant idea. One where patents that were once valuable wasted away as other companies blew by the unique concept.
I also bought into the dream at high prices, however I now see a different company that also has a dream...one that appear on the horizen of turning this stock around. I personally believe in Tienor and all the moves he is making; he, after all, IS a CEO with a bright and valuable future, for both the company and investors.
The original management (dumron etc) burned most of the investor's capital on inept development of powerline communications and bought a handful of companies with the rapidly diminishing value of the stock, some of these purchases were out and out scams, Geeks on Call and MST. Smart and Ethostream were two completed passes - if not exactly game winning hail marys.
Etho is a small, stagnant, generic WIFI provider for motels, no growth for years.Sart is sexier setback thermos but these are basically "one and done" sales, no recurring revs and without state and utility "green energy" incentives they'd have a herd tie surviving, and a few million of unpaid sales taxes is the unspoken elephant in the phone booth, if any substantial portion of that goes bad and the only question is which BK chapter they'll use.