Simon posted the following:
"This is a reply to the post below by "lookingforatenbagger"
1.) Pignatelli was against the Henry Schein exclusive distribution deal and fought against it. I read it in one of the CC transcripts and it was the reason he was neutralized by the board of directors. I believe Fred Furry their now COO/CFO repeated this in another presentation."
This is the whole problem. TODAY he was opposed, but pick up the phone and ask Jeff Jones why FREDDIE canned him. Turns out 5 years ago, Freddie wanted Schein to solve his national distribution/service problem. Why would anyone trust a personality so flawed he can't admit his mistakes?
"2.) Schein's sales during the exclusive agreement (Aug.2006 to Aug.2010) was a disaster. Their first year was BIOL's previous and current year's momentum carrying them through. Every year after that was down with a final year (2010) being down to about $25 million starting from 2006 of about $70 million. I have this in a graph from the LD Micro investors presentation by BIOL's COO/CFO Fred Furry made on Oct. 4, 2012."
First let's REMEMBER Biolase was selling to Schein for 10% to 15% LESS than they solde to the general public. Isn't it odd Fredie and Flurry NEVER acknowledges this when they talk about Comps? So lets look at the REAL numbers:
Revenue History (Millions):
2007…15…17….12…24…67 [Schein 77]
2008…19…18…15…12…64 [Schein 74]
2009…06…14…12…10…43 [Schein 49]
*Excludes Schein buyback
The better questions is, "Why did Schein's sales fall off after the second year? IMHO, the typical Schein sales guy tried the company out and then realized he could blow his credibility selling a product that was not being properly supported. Schein signed a three year deal and was trying to get out after the first year. Why? BTW, Schien had a great FY12 without Biolase.
"Going from a YEARLY sales of about $25 million to a QUARTERLY (Q4-2012) sales of over $18 million (a yearly run rate of $72 million) is Tremendous.This is real progress."
Sadly is isn't all that much progress. As even The Pfewl understood, Biolase has been "muddling along" with a gross of of over $60M for several years selling only the BIG iron Waterlases without any low margin handheld sales.
"AND Pignatelli did this while at the same time having to deal with law suits and a complete sales re-organization. That is a heck of a job by him and his team! I also believe that he has not been taking a salary (taking only $1 per year) until he "rights the ship". "
The problems Freddie had are nothing to the ones he'll see in the future as he mortages the future is inflate 4Q12 sales. I suspect the 4Q12 number s will look OK, but the 1Q13 think sales will suffer, much like 4Q10/1Q11 looked. I wonder what excuse Freddie will use this time? BTW, Freddie is over paid at a buck, but that's just my opinion.
"I heard their COO/CFO Fred Furry joke about this during one of the investor conferences late last year. It appears that Pignatelly is more interested about building a solid company for the benefit of shareholders and employees rather than making a quick buck. If you do some research on the web I think you will find that Pignatelli comes from an old and prominent Italian family and has pride in his reputation."
LOL reputation? You obviously have spent too much time on he site Freddies' minions built for him and not enough on the lawsuit sites. Freddie has been sued for sexual harrasment (and acknowledged it) he also claimed filed a law suit claiming a competitor HACK GOOGLE MAPS to give misdirections to one of his fashion shows. REALLY. I couldn't believe it either.
"It's easy for shareholders to be critical and be "armchair CEOs". But, one must recognize achievement when a CEO delivers as Pignatelli has been since his return to the post!"
First he never left his post. He has been the man behind the curtain for a decade and looking at teh new high paid hires, that's where he wants to be. That is until the next round of firings. One needs only look at the numbers.
Sentiment: Strong Sell
Looking at the sales figures that you posted at least 50 times; can you not see the similarities between BIOL. sales and the world economy? I first purchased this stock in 2004 and have been through all the ups and more often downs of the stock price. It finally looks that we might be heading up with all the good news of late. I think we will test $6.00 again real soon so you can short some more.Good luck with that.
I'm aware of the world economy dip, but in 2004 and 2005 Biolase had very little business outside the US. Now the the economy has returned to 2004/2005 levels AND Biolase has more and supposedly better products to sell won't one expect Biolase's 2012 gross sales to be 20% to 30% more than they were in 2004/2005, not 20% less?
Sentiment: Strong Sell
Why if you have no position and your sentiment is a very strong sell, spend so much time posting?.
Disgruntled employee. Got burned trading. Wife slept with Fred. You feel its your duty to protect us.
This is one long post, for some one who has no interest in the company.
I post for two reasons. First I'm extremely disappointed in Biolases's management and I hope the stock gets to $5 again some day so, if there is no managment change or monster change in company performance, I can short it agan. Second, IMHO, Freddie is ineffectual at best and a lying #$%$ bag at worst and I think it is the duty of those who know this about Freddie to point it out to the newbies before they become Kool aid drinkers.
let's not forget it was COMPLETELY Freddie's doing when Biolase had its secondary offering 9 years ago at ~$19/share. The share price had been cut in half a year or so later. It was COMPLETELY Freddie's doing when Biolase sold stock again at $7??? (I don't remember) in 2011 in an effort to "mini-recapitalize" because freddie defaulted on his working loan promises with in months of signing them.
I'd be glad to debate any of the issues you have with any of my post. Instead of trying debase the messanger, why not write your own opinion and interpertation of the facts?
Sentiment: Strong Sell
No need to beat a dead horse but anyone who pays any heed to skum bagger is a fool. skum bagger is so consumed by hate he is blind. Funny that 4 years after I told him Biolase would "muddle along" he's only now giving me credit for being somewhat correct. After bashing me at the time for making the statement.
In early 2009 skum bagger was stating many times in many ways that Biolase would be out of business soon. I told him at the time he was wrong and held his feet to the fire for some time afterward. Which resulted in years of his lying that Biolase survived 2009 because sales had "drastically improved." Look at the numbers. A child of 5 could understand that sales didn't dratically improve during that period. But that didn't deter skum bagger repeated lies and spin.
Here we are 4 years later and Biolase has clearly stabilized as a business and signs of growth are evident. Anyone with a "strong sell" on this stock at this point is an idiot. skum bagger has a strong sell partly because he is an idiot but also partly because he is consumed with hatred of Biolase management and hatred in general.
My advice is ignore all comments from skum bagger. My experience with him is he is a shady, dishonest, manipulative and despicable individual.
Regarding Biolase... These thinly traded small caps are risky business. I recommend always setting a stop loss on a stock like this. Saved me last time around.
I was just thinking this poster has a serious axe to grind. Doesn't make their input invalid, maybe it's for good reason? I have issues with some companies, and practices, can't always be about making money, principle matters too. Still, I like the current direction of things, and think it's a whole new ball game moving forward with new markets, and patents, with more in the pipeline.