Well we got what we would have to classify as the worst of our expectations re the conference call. Essentially they said we are back to where we were a year ago and a lot like a biotech still waiting for trial results. It seems to have gone from and 80/20 proposition to 50/50 at best. I am of a mind that this pretty much confirms that regardless of the spin Reed was and should have been fired. Now in defense of the company these guys are interim guys and did we really expect them to right the ship in two months since reeds timely departure. My question now is what are these milestones we might expect that were alluded to. Are they hoping to announce the lines are fully tested and running at some X% yield. If so then great but in the mean time I guess we all should expect to get a new and more painful buying op because even though they did not specifically throw in the towel, they sure didn't inspire a lot of confidence. Tomorrow will likely be ugly and that is putting it mildly. You know they should have left it with the written synopsis. After I read that I felt pretty good.
It was the evasions in the call that pretty much put a damper on any positive emotions. Still long and looking at some point to go in even more. A glutton for punishment it would seem.
6. How old is the co's CFO? 12? Aside from being challenged by the simple chore of reading English, his voice was cracking as he attempted to do so. Someone may want to teach him about his newly growing hairs.
The pumpers on this board guaranteed great riches by now...but the reality is UNXL hasn't a CEO, a business plan, a working product or the SEC out of their bedroom. Notice how these same simpletons continue to demonstrate an inability to learn. Amazing!!
What will stock price do today? Beats me.
I am long some UNXL stock at 10.00. I can't intelligently explain why.
1. No idea where UNXL's stock price will be by this time next week. Sure, today's trading will be choppy but calling the close is not an easy feat, imo. I saw no real panic after the earnings report nor rush to add.
2. I was stunned that they verbally spoke of the vanishing 5 million buck milestone payment but did not include that in their written PR. They suggested it wasn't a material change. That they didn't seem to PR it(did I miss it?), leads me to believe their lawyers did not see it as material.
3. Was nice to hear, again, that the SEC was not suggesting UNXL did anything inappropriate. However, why the ongoing legal expense if they have nothing to defend against?
4. Printing/Plating obstacles - no shortage of them and no assurances they would be handled quickly. Quite let down here.
5. The part of the call that concerned me the most was the part where they spoke of their customers merely wanting the secret sauce and for UNXL/Kodak to butt out of their manufacturing process. The customers wish to do the work themselves. What a let down. They are saying that though UNXL/Kodak don't know what to do with the sauce or even how to work with it, they can...themselves. This, to me explains why RK is gone and leads me to believe that not only do they still not have the secret sauce, but they have yet to even figure out a business plan. This is where a CEO is needed. A man with a plan and the ability to sell it to all involved. UNXL is still trying to prove it is even relevant, let alone trying to solve their copious production issues. Sure, the company is still learning along with Kodak, but what they are not doing....not hardly...is producing and selling product. They may have some machines and more on the way, but it sure does not sound like they know what to do with them. I may own a sports car, but it in no way assures that I know how to drive well.
UniPixel Appoints Bernard Marren and Carl Yankowski as Interim Co-President and Co-CEO, Succeeding Reed
THE WOODLANDS, TX--(Marketwired - Dec 30, 2013) - The board of directors of UniPixel, Inc. (NASDAQ: UNXL) has unanimously appointed the company's chairman, Bernard Marren, and company director, Carl Yankowski, as interim co-president and co-CEO, effective immediately. They succeed Reed Killion, who has resigned to pursue other interests. The company has begun the search process for replacement candidates, with Killion agreeing to assist with the transition. Killion also resigned from the company's board of directors effective today. Following these changes the total number of board directors is six, all serving independently.
"I am honored to have served as UniPixel's president and CEO over these many years, and especially to work with such a world-class group of extremely dedicated and talented employees in developing the innovative technologies that UniPixel is working on," said Killion. "The opportunity to build a company like UniPixel around such innovative technology has been both challenging and deeply fulfilling."
"I am also very proud of the way the company has progressed over the last year, and believe our Kodak manufacturing relationship combined with our innovative culture will be the commercialization catalyst that launches UniPixel forward into 2014," continued Killion. "The company has been moving from the developmental and innovation stage to a manufacturing and commercial production stage, and this transition calls for change. The board and I believe a new CEO and president who has a strong history specific to manufacturing and operational excellence will greatly benefit the company during this transition and best lead through its next stage of growth."
Marren, commented: "We want to thank Reed for his leadership and valuable contributions in achieving significant milestones in the development of our performance engineered film