Rapp was COO of Augme around 2010 and was replaced by Harber. I think he may have held an "executive vice-president" position. His position has probably been deemed as superfluous as a result of the "slimming down". Anyone feel free to correct me if I am wrong.
Well let me fill you in. Rapp is one of the many that are the Arena I2telecom bunch. The awful i2 telecom bunch that only eats money, grooms Arena, and does little else. I figure you will have about 10 more go out the door, but you wont hear of it in a SEC file as they are lower level players. Wonder when DB will get the boot. A waste of flesh.
BTW kids, with Rapp gone your #1 booster here on the board is gone. Or should I say the #1 windbag. So Phil, go back to Boca and count the new piles of money that you got from the last Arena gift of payments for questionable I2 patents. Not worth a dime to me!
Kids, I warned you 1 1/2 years ago but you choose to listen to Mr Windbag.
I will tell you know that this is a somewhat decent company that got pumped and dumped. Stock will go down to 40 cents as there will be a monster dilution coming. But this will be a good thing in the long run.
The problem with all yer jackjawing is that not many here knows what the hell you are yammering about. You are obviously carrying on a public conversation with someone that knows something about what you are blathering, but I'd venture to say that it is a very small minority that get it. Speak plainly ... windbag?, DB?, and who the hell are you, and when did you warn WHO about what?
My guess is you are just trying to beat it back down.
The way i read the news is that the new Augme is now old Hipcricket with IP instead of an IP company with an operating unit. The team has to rebuild the core business profit engine again which has been neglected. With 95% customer retention we have a good chance. We essentially have 5 mos to purge and prepare for IPO (Nasdaq uplist and stock split expiration in Feb). There is talent, a cleaner business model, and an exploding market opp. I'm damaged and frustrated by the lost year but dont want to turn my back on this just yet. Secure the necessary capital, position for break even and get ready to explode investor awareness by uplist. Steady backlog growth and a shift to positive EBITDA will show us the paved way fwd. I think the emotional handicap built into our depressed pps may slowly be removed thus shining the light on our true value - Aoc
mobile, with all due respect, if you're not willing to divulge what position you hold within the industry, "what you hear", "people you've spoken with" etc etc are meaningless. You're another one who alludes to "knowing things" and asking people to just blindly believe whatever you have to say. You want to have some credibility here you really need to stop beating around the bush and answer Michael's question about who (in general) you are and how you come to hear these things and have these conversations, insights etc. Same old crap with this stock. Post all of these rumors and whispers with no supporting evidence, only a "trust what I'm telling you, I can sound really good at alluding to knowing things no one else here knows".
My advice to everyone here for the umpteenth time is to do your own DD and don't believe any of the "knowledge" that people here claim to have that can't/won't provide a link to verify what they're saying. Even though it's what you WANT to hear, as you can see, it can be hazardous to your account balance. All of the positive industry and "insider" knowledge alluded to being known here and look at what the share price has done.
The same guys who were ardent supporters of Arena while myself, flyers and a few others were saying he needed to go have now re-evaluated and decided maybe it wasn't such a bad idea he's gone after all, and will likely start pumping Hussey's credentials now (sirius may not because he's too cocky to admit that he's ever wrong about anything though he's actually wrong more than just about anyone else here). I like Hussey, but would've rather have seen Braiker appointed as CEO. My hope is that Hussey's appointment as interim CEO is so he can get the financing in order and trim the excess fat while allowing Braiker to focus solely on growing the mobile side of the business, and once the restructuring has been completed and the financing completed, the reigns will be turned over to Braiker, who can start with a clean slate, a solid financial base and no hard feelings from the remaining employees because he wasn't the guy who was holding the chainsaw during the restructuring.
Two other quick points I wanted to make about the comments over the past week which I was unable to respond to:
1) The share price didn't drop in response to stop losses being triggered when the share price went under $1. The reason I know this for a fact is because you can't set stop losses on OTC stocks. That being said, $1 was obviously an emotional support level and a lot of people probably had already made up their mind to bail (i.e. a mental stop) if the share price dropped below $1.
2) Jason, I still fail to see how you're coming up with 10X sales. Please show me comps. MM is trading at around 8.5X trailing sales. Based on growth rate and industry, this is the best comp out there and from what I can see, it doesn't support what you're stating. Again, you can't use the p/s Amobee was BOUGHT OUT for as a comp because companies are bought out at a premium, so you can't put a buyout valuation of one company on a non-buyout valuation of another company. I think any way you slice it, you're looking at a 7.5-8.5 P/S multiple on Augme in a non-buyout scenario. I'm standing by my initial projection of $26-28 million in revs, with the $27 million area appearing to be the most likely based on Arena's comments and baseline for the new COO's bonus structure of $27.2 million revs for FY 2013. That would imply a $200-$230 million market cap based on 7.5 to 8.5 X's trailing sales of $27 million by March 2013. I'm hoping that the market somehow values it higher as I added 50% to my position between $1.12 and .85 and now not only hold more shares that I ever have in the past, but also more than I really want to.