Same story, different quarter. Quarter after quarter. Year after year. For fifteen years. Stuckholders suffer, while management gets rich.
We all know how well the DHL fluff PR turned out for this stock. (Hint, it marked the top of the chart to the exact day.)
Let's unpackage this shitment, shall we?
"...Octovis, Inc. is now shipping and has received substantial interest from industry leaders after deploying its highly mobile telemedicine platform to multiple medical facilities throughout the United States."
1) Now shipping? Congratulations. They have them in stock. BFD!
2) Substantial interest? That's nice. Thanks for the lack of quantification. Just vague and totally random terminology as always favored by management of this company to string investors along. The dangling carrot-in-front-of-horse trick. Same game they played with the DHL fluff PR, and once again, soon to be forgotten in the pages of time.
The semiconductor stocks that deal with IoT seem to have a bright future. A future $10 EPS sounds good. The scary thing is what happens to the multiple if IoT falls out of favor? Then you get a single digit multiple like Micron (MU). 9 x $10 eps = $90. That's my biggest fear. Multiple contraction.
If it does get fixed, you owe Pomerantz a thank you note. These guys are dragging their feet.
Ain't that the truth. Who cares about numbers when you got Vegas parties to plan for. LoL!
Apparently it is, judging from the defensive knee-jerk reaction from the investor base.
It is very telling that the only way to get this company to act ethically and responsibly is to sue them. Years of sitting on accounting deficiencies, and it comes down to this. You make your bed, you lie in it.
Maybe this is why the CFO sounded like he was under severe stress throughout the entire conference call.
I've never seen anything like this before. It feels like a slap in the face to investors who wait patiently for these special events. This is OUR time, and it needs to be respected. Travers' can wait. The go-go bar is open all night. An analogy would be like going to a doctor who gets up and walks out during your scheduled exam because a pharma salesman walks in. Would you ever see that doctor again? Okay, well maybe some of you would. Lol.
It's bad enough that their internal controls are garbage (as they disclosed in SEC filings). Let's hope they can rehabilitate themselves from career deadbeats too.
Thanks to the Intel investment, they just paid down their accounts from $2.2 million to $829k. Meanwhile, accounts receivable is only $255k. If they go back to floating their accounts to artificially inflate their cash position, you want to run as fast as you can. If A/P goes back up over $2 million, I'm throwing the red flag for deceptive accounting.
He's already giving possible excuses in case they don't hit the mark. Not a good sign.