The only thing that Avi has been successful at is raping the shareholders of this company with ridiculous stock options that give him control of the company and the stockholder NOTHING but losses. The company has done nothing but go down since he came onboard and there is no "light at the end of the tunnel".
A buyout by anyone with a shred of corporate governance would be the most welcome thing in Gigoptix history!!
Stop feeding him/it money. The paid bashers are paid for responses so if you put them on ignore and do not reply to their garbage, sooner or later they can't make any money and go away. The ignore button is the absolute best feature of yahoo finance.
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Looks like you might have touched a nerve since I now have a pile of ignored posts from NQbagofBS splashed all over your thread. Checked out Nation Sky and it's definitely a very impressive site.
Just to respond to your defense of management:
1. The 20f could easily be done in two months using DT and PWC former work. (NQ paid for it so they have the right to it). All they had to do was put enough people into the task and 60 days would suffice
2. To simply not respond to a buyout offer is just rotten management. It doesn't take a committee to recognize a bad offer. The 20f is not needed because Bison is a private firm. Also, if management had accepted the offer, every large stockholder would have filed suit for malfeasance within 72 hours.
3. The only response that the shareholders have received is "as soon as practicable" which is not sufficient. An answer like that will get you fired in many well run companies.
The bottom line is that they have no real idea of how to deal with the public capital markets where deadlines, accurate financials, and timely information separate the amateurs from the big boys. They have endured attacks and short BS but they haven't recognized the correct way to deal with being in the global markets
Management has been silent and inept in responding to the buyout offer as well as the shorts. To commission a forensic audit costing millions was basically a stupid move. A correctly filed 20-f would have done a better job in far less time. What's happening now is simply disgust on the part of both longs and shorts. Shorts have no immediacy to cover and longs are so buried that they might as well stick it out and wait for the audit.
If management simultaneously did the following, immediacy would be created.
1. Announce completion of the audit and 20-f
2. Announce a date for reporting 1st and 2ond quarter results.
3. turn down the Bison offer as ridiculously inadequate.
Unfortunately, the current management team doesn't seem to have the abilities or desire to think on a strategic basis as far as stockholders are concerned.
Everything that you posted was accurate but what are your thoughts on the Bison offer? NQ management has done nothing but hurt their credibility by not responding and turning down the offer. If you offered to buy my house and I didn't respond for over a month, what would I look like?
It will be interesting to see what your attendee says about the meeting and whether or not the buyout was addressed. Bigdope is posting every 60 seconds but I've had him on ignore for months. The institutional reaction doesn't seem impressive judging from the price action but they could be waiting until next week as you said. It appears that Omar and Matt simply kept saying the same things and hopefully they reinforced the CEO comment regarding 500 million for next year. Wait and hope is a horrible strategy but it looks like that's all that is left.
Frustrated with the management, not the company or products. What bunch of clowns would go to institutional investors with no verified financials? If you pay enough, any accounting firm can put all available people on finishing the audit and 20-F. Under Sarbanes-Oxley, anything they said at the conference could be made public without penalty but these dopes evidently went with nothing that would impress institutions except "as soon as practicable". The hedges probably walked out in far less than 2 hours after hearing lame excuses. It's accepted on the street that the Carson Block charges were all BS as are most of what comes out of Muddy Waters but since the management has done nothing but make excuses, it's not a surprise that the buyers didn't open any check books.
The price action reinforces that you are full of it. Since you won't go away with all of your short BS, off to ignore land with you!
Actually, if it's almost in final form, the timing would be perfect for the release of the 20-f and the audit simultaneously. The company would be free to start buying back stock along with the executives while the price is sub $7.00 and the shorts would be hammered into a corner thereby allowing Omar to get even for the months of nuisance. It would also make the appearance at the conference far more effective since they would be able to combine the audit with the projection of $500 million in sales for next year. The net effect would be the hedgies screwing their short hedgie buddies by buying heavily starting on Thursday and Friday.
This just might become a fun week! Let's see if it takes nqbagofsh!t more than ten seconds to spew some garbage. I've had him on ignore for weeks but it's fun to see "post ignored" next to his alias.