Please everyone read the transcript for yourself ... I personally thought it had a much different tone ... they did not hesitate to discuss the UPS partnership ... it seemed to me in the past they would mention it briefly but with very little supporting information ... this time, we got a better insight into how they work ("go in as a team, pitch it as a team, propose it as a team, price it as a team, from end-to-end" to make a sale ... that sure sounds like a working partnership to me ... it's the little things I look for ... anyway, I will be flying during the entire trading day so I thought I would mention my favorite two parts of the Call ... first, when they said the UPS collaboration will bring "more" engagements this year than last (and each quarter's revenues will greater than the last) ... my second favorite part was the discussion of franchise side of the business ... it is a Billion dollar market with no market leader ... 750,000 franchises (and 500,000 large dealer networks) in North America ... BLIN believes iApps ds is a "very attractive" product for these potential customers ... I stand by my estimate of $10 million in quarterly revenue by Dec 14 ($2 million recurring + $8 million new bookings) ... that would put us at an annual run rate of $40 million ... approx EPS of .25 ... pick your multiple to calculate shareprice ... let's just say well above this level ... have a great day ... glta
One more thing, if you are not part of the solution, then you are part of the problem ... so, when you post things like "inferior product", "poor sales", "iApps is not even on the map" .... well, then I ask you, were the VPs of Marketing, Sales, Contracts, or Human Resources really doing their jobs all that well? Cost reductions are made ... it's business.
Say what you want about Massie (and I've already said that I'm not his biggest fan) but he got the UPS deal (which they insist is going well), he scaled up the company to handle bigger volume, he "acquired" the sales staff to grow the pipeline, and now we are starting to see the results .... let's agree to disagree and see how FY14 progresses
Well, the message seemed a bit different to me ... growing top and bottom line by double digits ... greatly increased pipeline and backlog ... larger, more capable sales force ... international expansion not included in numbers ... I completely and totally understand what you are saying about acquiring companies "with revenue" and overall revenue not showing those gains ... all I can say is that the pipeline and backlog are at record levels and the numbers are just starting to show impact ... yes, the sales cycle is frustratingly slow ... but, with each quarter recurring revenue is growing ... for the record, I don't really care if you want to call BLIN a "software" company or "services" company ... UPS came to them to develop a product .... BLIN did ... UPS logistics likes the product and the pipeline is growing ... in terms of staff reductions, please do share more with your obvious insider perspective ... why did they leave BLIN as the data seems to indicate an inflection point ... I thought Massie seemed very different on this call ... at least the transcript of it .... glad to see that qualified pipeline we were discussing earlier was at a record level
Well, I haven't read a ton if these admittedly but it seemed darker and more sinister than any I've seen before ... some may say even punitive ... last I checked the Board is Directors were partly responsible for decisions leading to a record low share price ... sure fire Miller but be nice about it ... unless there is another reason ... I just figured with the timing of his sudden departure and then the rights offering that somehow it was all part of Saruman's plot
Holy Shift!!! Massie just hit the ball out if the park with that conference call ... at least the readable version ... way better than I ever expected .... amazing!! Nicely done Thomas ... let's get this party started ... profitablity in FY14 ... whoop, whoop!!
Ah, but why is Miller gone ... that is the question? If you're going to develop grand conspiracy theories then you have to tie it all together for us ... why was Miller clearly fired .. why was Miller completely silenced ... why were his shares soo locked up ... all way beyond the normal case in these circumstances ... where does Miller for into the scheme ... and, what about the elves and the dwarfs ... which side are they on?
Well, I guess a bit less condescending was too much to ask for ... hey, I didn't start the make whales whole topic .... someone else did (I thought it was you) ... in any case, they will have to do better than $5 to get this done without major litigation ... we'll see who exercises rights to know more ... still interested in how Miller fits into your grand scheme ... now, I'm going to go stand in the corner while you drink another beer Daddy ... please don't hit me anymore
it is certainly not "all disclosed" ... in fact, the agreement with Miller couldn't be more clandestine ... if this is all some scheme to allow them to take it private at a price which makes all the "whales" whole, I will be a very happy short term shareholder ... tell us your theory on Miller's participation or lack of participation in this grand scheme and his shares being locked up ... if you could do so in a bit less of a condescending tone, I could maintain some self respect ... otherwise, it reminds me way too much of my childhood
Upon reread, I can see it your way as well ... that second condition is lawyered up pretty good ... why even have a limiting clause if they want every share though ... just to set up a 50/50 condition? So, if I understand the way you are reading it, they are limited to the lesser of:
1) 100% of the offering
2) when taken together with their allocated shares a number of unallocated shares greater than 50% of the offering (each)
I see your point ... thanks ... okay, I'm rethinking the entire taking private conversation ... but, I still say that there could of been a much easier way
Why did they limit their back stop of the offering to "no more than 50%" of available shares then ... seems to me that if they wanted more, more, more influence and power in order to take the company private and make Billions that they would not of included that limitation ... I mean why would they care about shareprice movements at all if they're going private by March, right? Seems like the back stop is something the company wanted and Wilbur agreed to support them to a point ... it is what it is and nothing more imho ... it is a way to raise capital to develop assets in a manner which gives loyal shareholders with a reasonable timeframe the option to participate, or not
I'm shocked you didn't remind me to bend over ... if we go down, I will add more because at some point in coming weeks we will go UP ... cover while you can, the pros are
Maybe you should invest in another sector then ... perhaps Social Media after a multi-billion IPO ... Billions of cash and no debt ... perhaps LNKD or YELP or FB is more your speed
Just for conversations sake, how would you have preferred they raise the capital?
1) Private Equity
2) Senior Notes (perhaps with a convertible option)
3) Preferred Shares
4) Dilutive Secondary without shareholder rights
5) Rights Offering
6) Pass on the CHK assets and KKR deal
You would have a hard time finding a person with worse grammar than me ... or fewer typos ... but, that's cause I'm on an iPhone in Tawain ... I hope some can look past it
Yes ... that's all correct ... your on the right form and that's the right paragraph ... I'm sorry ... busy morning ... anyway, it does not name them but the paragraph suggests it (to me anyhow) ... doesn't really matter much anyway ... glta