Obviously, the insiders don't have the same vision for the company that Oshman had. The selling has been ongoing the entire first quarter, would expect to see big changes in ownership when the first quarter data comes out.
He is right (swissedge) for now. Look at the chart on WETF, there are plenty of cases where turnarounds can and do happen. Jury is out on elon until management delivers. Could be a great buy at these levels, but no one believes in the story until they do.
Yes, there are a few of us left but our backs are broken. Until we get some great news we are just drifting.
Management isn't going to buy until the two big insiders dump (Enel & Oshman Trust) and/or all of the weak hands have sold. If its Enel and/or Oshman Trust selling they know to wait. My guess its Enel.
I believe part of the debt is amortized. Come to think of it, I believe the two buildings aren't owned within the corporation. I think there was some affiliation and an Echelon connection (maybe Oshman or Markkula) to the buildings but it is owned through a different entity. On a different topic, the joint venture in China was really a fiasco from a cost/benefit standpoint but that was a sign they were desperate for new grid business that they were willing to spend the money and potentially compromise their technology.
It's trading at .17 because no one believes in this management team and/or the management team plans on stealing the company and taking it private. They have done absolutely nothing to support the stock price or give shareholders anything to be optimistic about. I listened to the CC and Sege couldn't talk his way out of a paperbag, he's totatlly defeated, at least Slakey has some spark and he would probably be a better leader. Still, I would get a young sharp dude from Stanford or Cal and let them takeover this trainwreck.
Nobody believes in this CEO and CFO, and until they hit on something big the stock is going to languish. I give them until the end of September, if they can't make any inroads to improving the top line then hire some young Stanford MBA's and get rid of the Harvard jokers.
First, if you get rid of the Harvard MBA's running this company into the ground the price goes right back up to $10 a share within a month, count on it! There are too many good patents and products to let the company go for $2.50 a share. They need to develop a product that can be sold which can be used in every house, commercial building, or transportation vehicle. Straddle the consumer and enterprise markets.
Why doesn't Echelon develop a product similar to the NEST thermostat and sell themselves to Apple for 2 plus billion dollars? If Apple wants to develop auto's, they surely want as much connectivity control networking they can get, whether it's inside the home, streetlights, IIOT, etc.
Since 9/30/2014, Prescott has added over 850K shares so they must like the direction the company is going. It's painful to go though this restructuring but the cash cushion helps and reading the transcript of the CC it appears they can get a few announcements booked by the third quarter. This could be a fantastic buy at these prices but then I'm overly concentrated in the stock as it stands now and will only add if I see something that is materially huge.
I read the transcript and I've seen companies with far more problems make a big comeback. Don't get me wrong, Echelon still has much to deliver. I don't know anything about Prescott but I know Royce is a top notch small cap institutional investor buying companies they believe are prime for M&A. They've hung in for quite awhile and have continued to add shares and the Royce Opportunity also Fund has a top notch team. Most of their portfolio managers are required to have at least 1 million of their own money invested in the fund so they eat their own cooking.
I agree that removing Sege now probably wouldn't be appropriate. The company has always boasted of his key contacts in Silicon Valley and within the IT community, where they certainly need some strategic partnerships and possible joint ventures going forward soon.
I agree, Sege should be fired without a comp package, nothing personal just business. Share count is already too high (now at 44M).