One of the guys that used to work for their PR firm told me they expected Cummings would ramp to 1.5 to 2.00 million per year in a very short period of time...now it appears not to exist anymore. Then you have Lotte that stole their technology on the cheap b/c ZBB was desperate for cash and you have the China adventure that is probably all smoke and mirrors.... I didn't even listen to the call....by reading the board there is nothing to hear.
I just read the earnings release...that is a whopper. Why on Earth is this trading above .50. Eric's pay is more than the entire quarterly revenue, cash receivables are nill and backlog means nothing b/c it may or may not ever turn into cash. They say they have enough cash into 3rd quarter of fiscal 16', the math says otherwise.
What a disaster.
You're silly. I'm not bitter, I lost money in the stock. Isn't the first time I lost money in the stock market and won't be the last. I have made money in the stock market and will make money again. You lost a hell of a lot more money than I did in the stock, you just haven't sold yet so it's technically "a paper loss". I actually sold at a significantly higher price than what the stock currently is at pre-reverse split factored in. Management has proven one thing and one thing only, they cannot execute this business. The past is not always a predictor of the future but it certainly can be a guide. You obviously kept investing in the company and have accumulated a substantial position. Yes, I know the song that 500k in shares here is pocket change to you so it's not a worry, but a loss is a loss and nobody likes to lose money or else they are a fool.
Actually your post is pinning me very incorrectly. The market is a gamble and I'm not bitter at all and only occasionally view this stock. However, facts remain facts, they worked 5 years on products that don't work after working 10 years prior to that on products that didn't work. A global leader of products that nobody wants and don't work is a bit of a stretch. Unfortunately, it is worth noting these things as new investors come here don't think this is all sun and glory and about to go tot he promised land, b/c we all thought that for 5 years and it turned out all we got was no sales, lot's of shelf offerings, reverse splits and a way over-paid management team.
Now all of a sudden you sound like they are justified in revising the product and supporting them saying this is typically what companies do, even though they were already on the V3 of the other product so apparently all those 'field applications' did not help them from the original product, to V1, to V2, to V3 to whatever they are on now. Why on Earth would we believe they are now all of a sudden on the right path with a complete product change when all of the same people who couldn't execute prior are now in place. You've got silly talk going on now as the stock hovers near or at all time lows in the history of the company. .
They put in press releases their global leading products and adding another product to their huge product portfolio of products that don't work and nobody wants. Spectacular. Same ole ZBB. I can imagine their after hour parties at the facility as they laugh and mock all the dopes over the years, including myself, that funded the company and paid their salaries to accomplish nothing. Well, since there were a couple of releases, must be time for another shelf offering.
As with many times before, ZBB 'works' with outside sources to post articles hoping for a stock pop and then somehow capitalizing off of it.
Not to mention gas heading below 2 shortly, which will certainly delay and crush AE projects as well just like it's getting to the point of hurting shale drillers. Thank you Mr. Putin for allowing gas to get cheaper putting more money in my pocket b/c I drive a lot!