So any of you naysayers removed your thumbs from your azzes yet? Love to see you idiots eat crow!
...shareholders should be ecstatic! There will be significant savings pertaining to labor costs. The stock should be up at least $1/share based on this announcement; not down by that amount after hours. Hopefully, tomorrow, clearer brains will prevail!
It is far more likely that the company will be bought out of bankruptcy at perhaps 10 cents per share. The only play on this company is to be short. IT WILL NEVER SEE A RECOVERY!
Ed is a guy that at one time had one of the largest and most expensive homes in El Dorado Hills, only to lose it and the vast majority of his wealth. He tells a good story, until he gets caught embellishing, only to lose everything he "thinks" he has. The definition of this type of person is "LOSER!" Unfortunately, he has ripped off all his investors making them losers too. Maybe we'll see an episode featuring Ed on "American Greed." Hopefully he'll get a long prison term.
I've already reported Ed's behavior to the SEC, and made some suggestions to the US Attorney for an investigation I think Ed has been spinning a tall tale, which is illegal. I'd really like to see him serve some jail time He better sell a couple billion shares of his stock so he can afford a good lawyer He'll need one.
I visited this company's so called HQ about a year ago. I talked to a few of the staff. ALL of those staff I spoke with have left. What does this tell you? It's all fake! Pay employees with worthless shares! Borrow money from lenders with loans secured by worthless shares! All the while, Ed pays himself a huge salary; sells shares to line his pocket; and misstates everything about the health and future of the company. What does this smack of?
...file for bankruptcy? Shorting this stock for the last 18 months has been extremely profitable.
If they had real revenue and income, don't you think they would report it? I've asked the SEC and US Attorney to investigate Ed for potential fraud. I hope they follow through. Market Cap has fallen by tens of millions, and I'm interested in knowing how much Ed has enriched himself.