I think that as part of this restructuring, Wise should make the channels available for shareholders to communicate directly with him and the board and not necessarily have to go through investor relations. If the objective is to be transparent and give shareholders a voice, I think it will go a long way to re-instilling confidence in the company as we move forward. This would allow you to tell your thoughts/views directly to Wise...though I have to believe it's on his agenda as he's been affected by their actions more than any of us has been individually.
Ditto...I was taking shares at .9101 on Wednesday, .8855 on Thursday, and 8325 on Friday. I'm prepared to grab the mother load if we see shares being offered in the .70s.
Wise has done a good job communicating current problems and his vision going forward. Clearly ISS also recognizes he's the right choice and time for the entrenched board/officers to go.
It's going to be a landslide win for Wise and team.
Not so...cash bleed stops Dec 31. Look for clear GAAP profitability within two quarters. Gravy train has been derailed by Wise. No reason to trade below cash value...short sellers taking advantage of tax sellers. Just a few more days until I take advantage of them all and rip their faces off.
The subscriptions are going to be great. These are recurring revenue streams that require little work. You get them set up, then they use it and pay month after month...almost 100% margin after it's turned on for the customer.
The more Terence reveals about what has been taking place the more I support him. Beyond that, though the share price obviously looks awful today, being exacerbated by end of year tax selling, I am taking advantage of it. I continue to watch the Level 2 quotes very carefully and these puny shorts play their games for a measly penny or two for 100 and 200 shares - very funny. However, I am slowly picking up shares, and if they push hard enough, I may very well end out being a 5 percent shareholder by Jan 1. I won't complain for the price they're giving me. They play for 100 and 200 shares to try and scalp a penny or two at most. You go in there and take 1000 shares at the ask and it messes them all up. They just have to keep playing the game and come to me - this time next year I will be vacationing in the Mediterranean thanks to them.
I have no problem buying any profitable company trading at cash value with no debt. What a stupid market. I'm guessing there are still some pump and dump folks left over from September who are going to take their loss by Dec 31...I'm counting on it.
Interesting blurb from Dec 22 Fortune magazine:
The most important data point in farming used to be the weather. Today, precision agriculture - the use of sensors and software on field equipment - gives farmers exacting intelligence about their crops during harvest. The information is clearly valuable. But who owns it: the farmer, the landowner, the software maker, the combine manufacturer? In November a group of major industry players - from the National Corn Growers Association to Deere, Dow DuPont, and Monsanto - established principles to clarify the issue. Farmers shall own and control the data, they agreed, and tech providers must receive explicit consent to collect, access, and use it. The accord suggests that data issues have been a sticking point for farmers eyeing an equipment upgrade - and demonstrates that there's economic value in the numbers. On the farm, not every cash cow goes "moo." - Andrew Nusca
If you are doing anything underhanded at this time, you can be certain that there will be a shareholder lawsuit filed against you personally and the entire board for breach of fiduciary duty (that can be used against you much more easily than you speak of doing it). I'm guessing that there is already sufficient evidence to justify it today, however as we are on the brink of setting things right, I think shareholders are more interested in welcoming Wise and the new leadership of OUR company. Despite all of your mud slinging, with one presentation, Wise has provided more than enough to show he has a plan, the vision of how to make it happen, the immediate goals, and the right people to do it.
How's the day trading going Frank? That's the first piece of evidence that will be used against you when I petition to be lead plaintiff in the lawsuit against you for breach of fiduciary duty. What corporate officer would be so brazen to take company/shareholder money, play investment banker with it, and then lose 50% of it in one year? What board would be so stupid to approve doing that? The amount that you took to "invest" was even more than the amount raised with the secretly concocted convertible preferred share offering - wasn't it Frank? So, if you didn't take the $2 million to day trade with, there was really no necessity to raise money with the convertible preferreds - was there?
It's my hope that once Terence takes over, we sue your butt and invalidate the convertible preferreds, holding you and prior board members (excluding Terence since you did it behind his back) responsible.
Oh, one last thing, be prepared to liquidate whatever you've invested OUR money in for your day trading escapades - we're going to be taking it all back on January 2.
I am going to make a prediction that within the next two months, the company will be doing a secondary share offering of $3 million to $5 million worth of shares. I think this will be how they will get to the necessary level of shareholder equity. Zack has certainly come to the realization that he cannot simply keep injecting money. If he believes in the long-term, then he's going to have to sacrifice some portion of ownership to keep the company alive and meeting Nasdaq listing requirements.
I personally do not see the necessity for maintaining the listing from both a cost perspective as well as an operational one. Shares could go OTC until enough of a turnaround has taken place to justify uplisting back. Zack obviously has some reason against that.
In any case, I think that either a secondary offering is coming, or they are working on a buyout or equity sale maybe to Cap Gemini. I think these are the only things they could have said to Nasdaq to get them to allow the extension at this point. Do you have thoughts on other possible scenarios?
Bummer...should have bought some of each at Thanksgiving.
Both Swenson plays, gave indications to buy, but I didn't. I guess cheap oil/low float launched AIRT and now Biglari buying more of each.
If these guys were enriching themselves with ridiculous unjustified salaries like the bozos running FLL, I would be more inclined to agree with you. However, this management team is running a tight ship including their pay and are showing the proof of their efforts in the results. I give them a pass for not purchasing more. But again, I think we'll continue to see Shaunnessy and Sherlock buying with some regularity going forward.
No, I will not play the game possibly getting stuck.
I think over the next two weeks we're going to have much better/safer bouncers emerge.
I just came here to post as it hit my reports this morning.
My concern is that we're looking at another END.
On top of that the oil situation makes me think that worse is yet to come. I say it closes 2014 at sub-$1.00 - it's a trap now more than ever. Let's see CEO and CFO buy 100,000+ shares each first.
Sherlock purchases shares fairly regularly once or twice a year.
Shaunnessy has only been with the company two years, and he has purchased 5000 shares twice, last time being March this year. I suspect he'll buy some again between now and March coming up.
Also note, Shaunessy has options for 200,000 shares at 82 cents which are now all exercisable and vested - which I'm sure probably has some influence over his decision whether to additionally buy shares in the open market or not.
I looked at it last year around this time when insiders were buying and considered it, didn't buy, and then missed the January bounce. I saw the Form 4s yesterday, this morning as well as from Dec 1. However, my hesitation is the same as last year - the financials are pretty poor and I don't see the turnaround - the analyst estimates look like they are lost compared to what the company is posting. I see lots of debt and negative tangible book value.
if you have any questions that you want an official answer to, you can call Innisfree - their number is on the back page of Terence's pamphlet.