Since no vacancy was in place Naveed being appointed VP of corporate development has to play a part going forward. Further acquisitions, Homecloud marketing, outright sale of wstl? Naveed was brought in for a purpose, what it is 0 clue
Also of concern for me is stock grants...I have a feeling we are going see more of them over the next week and I question whether issues of company stock are in order....or at least until we see some positive news and a higher stock price.
I understand the need for grants...but they should not be automatic and I don't want Westell's good size cash position becoming somebody's personal piggy bank that can be raided when in need of money.
Basically if management want stock and they believe in the company they can step in occasionally and buy in the open market like the rest of us.
Gilbert has been all over the place with "what" stage of development homecloud is in. A number of Q's ago it was slated for beta teating. Now it's alpha. Which is it. If it's alpha, has it entered black box testing. Is it feature complete. If it's beta, how many units are out? Is this thing open source. Are they revamping the xternal HD's. Will they move users to their cloud. Gilbert is coming up short. A final draft is underway
From what I can tell from the LinkedIn profiles (and that was before some of the people made changes or deleted their profiles)...Homecloud looks like it is done.
I saw words like...Developed unit tests, and white box testing for the various components....and resolved all technical Win32/Win64 issues.
And most of these people have left around the December 2001 time or earlier.
Basically from the BIO's, this product Homecloud looked for the most part like it was done...and this is from months ago...So again we are back to what is the holdup.....After all it seems good enough for Gilbert to use...He did mention on the call that "I personally use Homecloud everyday with both my office PC and my iPAD."
Again..I am at a loss on this one...Tough to figure out.
But even without Homecloud figured in we are still at $2.18 in cash, with a buyback in place, alomst 2 million shares sold short and a Westell unit on pace for about $50 million in revenue...That should get us to $3 bucks plus alone.
This is a misrepresentation of the report on Homecloud. Gilbert stated that the Homecloud team had been making progress and that they have a potential alpha tester to begin soon. At least this is what I gathered from the transcript.