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Onteco Corp. Message Board

  • maxwel5000 maxwel5000 Oct 8, 2002 5:37 PM Flag

    Inflating ONTC with air, again.

    Your messages regarding ONTC stock sales and financial analysis are very dumb. Here's why:
    1. After Doretti drove ONTC into the ground, Doretti's average price must be anywhere between $3-4 instead of the $5-6 price when Doretti became CEO more than 4 years ago. So, if Doretti wants to sell his ONTC today, he can not.
    2. Whatever the reasons behind the previous VP's 144 filing to sell ONTC, I am sure they are more valid and much reliable than your desire to inflate ONTC price with dumb comments in order to convince dumb people to buy. You should be worried by it.
    3. Today's Accore announcement clearly has the previous VP's fingerprints all over it, just as Home Depot's. ONTC has a rough road ahead once all new customers secured by the previous VP in the past quarter are announced.
    4. If anyone can sell ONTC shares today with significant profits, it is most likely the previous VP since his stock price began after Doretti's leadership (or lack of) took ONTC to an all time record low of 30 some cents.
    Wouldn't you sell at $2.50 if you were in his shoes? With dumb comments like yours, you probably wouldn't - SELL.

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    • Greetings Maxwel

      Speaking of dumb, please get your facts straight.

      1. Doretti had taken over the helm of this sinking ship in February 2000, the beginning of the stock market crash; not the 4+ years that you claim.

      2. Doretti will not tolerate under achievers, hence the previous departures.

      3. The turnaround included the replacement of incompetent managers, some who didn't know what a 144 filing or how to fill one out, a restructuring of obligations, and a focus on a core product and preservation of resources.

      4. Nice born on date!

      Again, get your facts straight. You don't restore my confidence that the educational system is actually working and may need a major overhaul.

      • 1 Reply to investiture
      • Investiture and Ipstockdoc:
        Read ONTC's press releases in the past year and tell me who has a clue you or I. The CEO is getting the credit for the previous VP's work. According to your accurate numbers the CEO started with ON when the stock was at $10 and watched it drop to $0.30 in 2 years, loosing 97% of the company value. No CEO with any business sense will allow it to happen. Suddenly, ON began to exist in the past year after the previous VP was hired, and press releases of revenues started to appear during the toughest economic year; the latest of his work was yesterday's Accore release. What was happening to ONTC and ON during the CEO years prior, and better economy? Both were disappearing in thin air due to lack of CEO skills. This is the ninth VP. I can understand if one, two or even four VPs did not work. But, an experienced VP of 6 years with NVDM is replaced by another VP of 3.5 years from NVDM! Does that make any sense? Only to an ineffective board and a CEO who has no knowledge of sales success even when he gets lucky and success hits him in the face.
        You sound like the CEO himself bragging in public to his dumb followers and clueless board members on how he cleaned up the company. Are you the CEO or one of his few brown-nosed employees? Only time will tell those poor investors. Even then, you will find a way to justify your ignorance of holding a worthless stock after loosing your shirt and the current opportunity to sell at $2.30. You're right enough said. SELL.

    • Hey maxwell smart,

      <<Doretti became CEO more than 4 years ago>>

      Wrong. Robert L. Doretti was hired as President and CEO of ONTC on 2/1/00. (ONTC stock closed at 11.03 on that day).

      <<Doretti drove ONTC stock into the ground>>

      Wrong again. He took over when the bear market began. IN CASE YOU'VE FORGOTTEN, THE NASDAQ PEAKED AT 5132 ON 3/12/00, and we began a nasty downtrend which continues to this day. Today, the nazdaq closed at 1129. If you check the chart below, you'll see that ONTC has handily outperformed the nasdaq since 1/1/01.

      <<if Doretti wants to sell his ONTC today, he can not>>

      Correct, but not for the reasons that you may think.
      Re: Stock Options: The 2000 Form 10K indicates on pages 42 & 43:

      1) there were 2.27 million options issued in 2000 at an average price of 6.02, and

      2) "On December 28, 2000, the Company granted to an officer immediately vested options to purchase 300,000 shares of the Company's common stock at an exercise price of $0.10 per share. On December 28, 2000, the Company advanced the officer $30 to cover the exercise price, which was repaid in February 2001.
      Additionally, the officer entered into a stock restriction agreement under which the officer is subject to the certain restrictions that lapse through February 2004 regarding the resale of the common stock issued upon exercise of the stock options to the Company"

      I think Doretti got his options under the latter scenario at .10/share scenario subject to a 4 year lock-up.

      <<previous VP's 144 filing to sell>>

      It's customary for departing executives to sell there stock since they're no longer associated with the stock. That's similar to a terminated employee taking a distribution from their 401K plan and putting the money in a Rollover IRA.

      Enough said.


    • Maxwell, you have NFC. No F'n Clue. Doretti had to clean up a death spiral convert, prior management had ignorantly placed with a couple of real sleaze bags, who drove down the price. He has cleaned up that mess! The sales we have now and the pipeline in place have been achieved DESPITE our prior VP. We are OFF TO THE RACES. You are just OFF. Thank goodness we now have someone to replace the last moron poster, who in effect rallied the troops and the stock price, but has since departed! We will inflate ONTC with revenues and earnings. Not your B.S.