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Elephant Talk Communications Corp. Message Board

  • cephusstarpower1 cephusstarpower1 May 15, 2013 1:11 PM Flag

    ETAK Just Lacks Credibility

    ETAK's management can't seem to get even the little things right, and it has done nothing over the past several quarters to improve its credibility with shareholders and Wall Street, which is why the stock continues to erode and can't get any sustained upward movement.

    The crisis in credibility exists with ETAK's just not executing or not doing what it promises. I suppose ETAK just thinks all American shareholders are idiots and just can't remember what he says.

    1. On April 2, 2013, Vandervelden stated with reference to the new Latin American' teleco customer: "While we know many of you would like to know the name of our customer, we have decided, upon the request of our customer, to not provide that information at this time. Once the binding MOU moves to a final executed contract, which is expected over the next four to eight weeks, we will be pleased to disclose such details and file an 8-K."

    Six weeks have now passed, but no 8-K filing, no disclosure of the customer's name. Why not? Even thought the "name" may really be no big deal, again, the Company continues to destroy its own credibility by not following through on what it says publicly. These unfulfilled promises compound ETAK's management's crisis in credibility.

    2. On April 2, 2013 during the shareholder conference call, Vandervelden stated: "The company will likely close additional financing in April or May in order to ensure operational flexibility."

    Hasn't happened yet. Company has waited until the very last hour of running completely out of cash. In November of 2012, Vandervelden stated then that financing was imminent. We'll see whether financing is secured before end of May 2013. The trust factor is just gone.

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