Maybe he got it from the last line of the 10Q:
We believe that our current cash resources and working capital are sufficient to fund our operations for the next twelve months, but expect that we will need additional capital to fund future growth and are currently evaluating potential sources of debt or equity capital."
I guess no one was impressed. I wasn't either. It's actually laughable to sell 10m in phones and make $34,000. Ram needs to lose his job. Back to the 50's soon. No more news for another three months and we will drift down from here. US sales will not amount to anything. It's all a pipe dream.
Smart move. IFON never can hold any gains. My guess is you will be able to get back in .68-.70. Once again, I failed to take advantage and sell any of my shares. There is always such a small window with this stock, unless you are sitting in front of the computer everyday, you can miss it. I missed it yesterday.
One of these days, just by pure luck, you'll be right. However, your statements have no credibility when we've been hearing this before every quarterly for the last 4 years. I'm sure you'll be the first on dumping when we get over .60 again.
Hey Hopeful, no, I haven't sold a share yet. I'm still underwater by 15% and I figured I held this long...
I'm sure there were sellers at .65-.70 who bought a couple of weeks ago in the low .40s. I don't get excited about a .20 cent move anymore in this stock. This management team has a lot to prove to sharesholders. Hope all is well.
Ram has worn out his welcome. This company is a complete joke. The worst investment I ever made. Hoping and praying for a miracle and a good quarter so I can sell this #$%$ and rid myself of IFON forever. Just need .80.....please!
Disappointed, but what's new for this company...
Does anyone expect to see a change in management? I get the feeling Ram is stringing us along and keeping IFON alive just to continue to collect a paycheck. Clearly, they are not executing on their business plan and haven't in quite some time. Can't the board see through this? I don't know about anyone else, but cash is now down below 5mm and I would not be buying any shares at this level based upon current performance of the company. There is just too much risk that this stock falls below .20 with another two quarterly losses. I also noticed for the first time Ram had no encouraging words to say in his PR. Maybe he realizes also that IFON is no longer a viable business and can't compete. Sad to think even when their target market is third world countries with second rate phones. Did anyone really believe that anyone would pay $169 for a Verykool phone when you can get a subsidized Apple IPhone for $99?
Yahoo showed 88 employees for IFON two months ago. Now 103. I wonder why? Last report indicated they were going to have fewer expenses moving forward. Why hire 15 new employees?