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Augme Technologies, Inc. Message Board

  • stockguy87 stockguy87 Sep 17, 2012 1:10 PM Flag

    Board Must Act Today

    The market has lost all confidence in Arena’s ability to manage. The Board must act today or it will face lawsuits accusing it of abrogating its fiduciary and governance responsibilities. The required steps:

    1. Dismiss Arena immediately for incompetence and continual misrepresentation of events, developments and “facts.” (And the many other issues the board is surely aware of by now.)
    2. Find a way out of the DeLuca contract. The company does not need another layer of management – a very costly one, at that. In addition, his background is far less relevant and impressive than most realize.
    3. Leverage Bob Hussey’s considerable talents as a turnaround expert, as this is exactly the skill set the company needs at this time.
    4. Wall off the patent factory so that there are no further costs associated with it.
    5. Make clear that the company is reorganizing around its (thriving) HipCricket mobile marketing operating business and team – the only real assets the company has.
    6. Eliminate all costs not directly related to the HipCricket business.
    7. Make clear that HipCricket is, on a standalone basis, only a few months away from being a cash flow positive business.
    8. Arrange financing based on all of the above, which should be readily achievable with the other problems finally out of the way.
    9. Communicate to the world that the board has not, in fact, lost control of this company.
    10. Get back to growing – profitably – the leading mobile marketing company in the world (as measured by sophistication, client roster, etc.)

    No more dithering. The time to act is right now…today.

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