Come one dummies it's Wall Street. Today's dog is tomorrows prince. This is what Wall Street does they cut the legs from a company and spew as much venom as possible to crush the stock price only to romance the shares back up once they are all long the stock. Let's put it this way, they are definitely announcing a better Q than last Q; so they are going to do better sequentially Q to Q. They said in their last conference call that some divisions were growing at double digits so if they can show that they are viable without Mobclix then it shoots back over a $1 quickly. Other news that would cause a change would be the sale of Mobclix, new revenue from advertising as they announced a deal recently in China, reclamation of old revenue due to a turn in the European economy. In otherwords the CEO of the company has a vested interest in turning the company around -- as the company turns the stock price will turn as well. Even if you all think this company is a BIG FAT FRAUD....the CEO can still tell a BIG FAT lie this coming conference call to turn the stock. There is no downside.......if your short your only hope is that they announce bankruptcy this Q. If not the stock doubles!!!
From the conference call......
In support of that, I would like to point to some of our key customer retention and new business wins. In the U.K., we re-signed contracts with a number of key partners, including Vodafone and Channel 5, and launched mobile marketing campaigns for several media and broadcast companies. In the U.S, we renewed our relationship with one of the largest U.S. retailers, who operates over 1,000 locations and uses geolocation at mobile targeting [ph] and notification to drive in-store traffic, customer acquisition and gift registry.
In India, we closed more than 20 new deals, including a program with Nokia to allow Nokia to interact with its 70 million mobile subscribers using Velti's platform. And in China, we signed our largest deal in over a year of securing a $650,000 program with China Unicom.
We are pleased with the progress since some of our new initiatives, including Velti Pay, which quickly built into a $5 million annualized run rate of new clients, following its successful June launch and our mobile customer acquisition business, is expected to continue doubling revenues quarter-over-quarter into 2014.
Our leadership team is aligned and running at full speed to ensure disciplined execution of the company's strategy and plans to become cash generative. During the quarter, we conducted a review of the various cost centers and business lines in the company, which enabled us to reduce operating expenses by $40 million on an annualized basis compared with Q1. Key elements included aligning functions more closely with the business units in reducing overhead, exiting business lines that were generating significant losses for the company and consolidating facilities.
We are also on track with the initiative launched in Q4 to reduce our annual capital expenditures by more than $40 million compared to last year. In order to better align our organization with our business focus, we restructured our North America sales organization with our busi
I bought 30,000 shares for 0.22 = $6600..
Potential downside = -$6600
Potential updise = $150,000
If they announce partial reclamation of revenues from Greece stock goes from 0.25 to $3 overnight!!!! Things in Greece and Cyrus are much better; so whoever the dead beat customers are maybe they are generating revenue to pay their VELT bill.