I'll be voting my 50,000 shares AGAINST by: longtimefollower (34/M) 05/02/02 02:01 am Msg: 10261 of 10262
Divine just reported results, and they were horrific. Divine now has NEGATIVE TANGIBLE EQUITY PER SHARE. Why should we give all of our VIAN cash to something that looks like it will burn through all of VIANT'S cash in 1 or 2 quarters, if they get their hands on it. And why would someone call himself "Flip" in a press release. This looks idiotic. Unless they renegotiate the deal to give us a GENUINE $2++ in value for our Viant shares (i.e. 8 shares of Divine plus the dividend looks good to me), this deal should be VOTED AGAINST.
Just reading Divine's jumbled press release shows that they don't know what the hell they are doing. It's like they are still trying to use a Worldcom growth strategy....long after everyone has figured out that such a strategy has been totally discredited.
Bottom line: Does anyone REALLY think that Divine will be able to turn this thing profitable by the 4th quarter, as they suggest. That's absolute bullshit. They're just trying to STEAL our Viant cash. That's how it looks to me, anyway. Damn it, I want to hear and see the SPECIFIC PLAN that explains how Divine is going to "suddenly" stop hemmoraghing, if it gets Viant's cash. What is it? What IS the plan?!!!
If that shareholder thinks VIAN management is going to liquidate and give back all the money in cash JUST because the DVIN merger didn't go through, they've got another thing coming. VIAN management has made clear that they are running the business to go forward. If DVIN doesn't go through, they'll burn through the cash until their dead or in bankruptcy court. The DVIN deal will give them atleast 50 cents on the share and the chance to be a part of something much bigger with DVIN. Not once did they argue anything in that post on anything of merit. Burn through VIANT's cash in 1 or 2 quarters? I don't think so, since it will come into the coffers on Q3 when DVIN moves to be burn neutral, and then into Q4 where they will be cash positive from an operating perspective. IF they want to get more than 50 cents ont he dollar -- they should SELL their VIAN now and get the $1.40 they can. Otherwise, they should deal with the 50 cents and DVIN stock. The only other option they have is ZERO. That would be one of those "amateur" investors flip was mentioning on the phone...