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OCZ Technology Group AŞ Message Board

  • dream_adventurer dream_adventurer Oct 26, 2012 6:00 PM Flag

    The truth of what is happening at OCZ

    Obviously they are stalling for time to either line up a new bank credit line or a fire sale buyer. In any event, it does not take this long to close the books, they only need to focus on the areas that need review, not every entry was wrong, and they do have staff and a CFO to complete the accounting on a very timely basis especially if they had done a lot of close work prior to the issues raised. So, bottom line is that they are worried that the numbers won't be pretty at all and they are in trouble, so delay is the strategy until some sort of lifeline can be extended or the company realizes it needs to file a chapter 11 or 7 immediately.

    De-listing does not concern them right now because they probably will be anyway if the numbers are so bad that the stock price falls below the listing requirements. The CEO probably does not need the money so he is doing this because of a feeling of responsibility having been on the board and allowing this to unfold on his watch. He also could be sued and he knows it, so he is trying to show good faith and competence now, a little bit too late in my opinion.

    I am not a basher, I am not a short, I am just trying to be realistic. This company has caused a lot of financial pain due to their game playing and maybe dishonesty. They considered themselves above the rules of the game and decided to play by their own rules, and they now see what that caused. Those at the top ought to be worried because there is a lot more at stake against them than just a failed company.

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