The CEO must be trying to send investors a message of confidence in the performance of the company--since he has stock options already.
If COCO was doing all these bad things, why did it take our crack government watchdogs almost 20 years to figure it out. COCO started in 1995.
Agree--look at OFIX (+50%) and AVID today. Once the accounting BS is resolved this will be back to $10. AVID is perfect--the restatement didn't affect cash flow, but I am guessing they had to pay the accountants over $50 million to figure out the "correct" accounting treatment. Great business for the accounting firms, who help write the rules.
I am getting older so in 2008 I decided to play it "safe" and bought GE at $27 a share instead of my very small caps where I have done extremely well over the years. It went to $10. Took me year's to get back to even. Ain't no safe place in the market. Big ones can get whacked too. Don't play with money you are not comfortable losing.
Synacor's response "please don't fire me, we will fight to keep our cushy jobs and destroy shareholder value while collecting our pay". If they do as good a job fighting JEC as they do creating "long term shareholder value", we should see them sold this year. Get em JEC.
Another letter filed 7/8 by JEC 2. Good. I hope they never give up until this is sold. They need to be junk yard dogs like Voce Capital who have successfully helped shareholders (and them selves) get bump along companies sold.
The BOD will either have to sell the company or try to wait until shareholders kick them out . I vote my measly 25,000 shares to sell this. Current management/BOD discount is 50% of the value of the company.
Seeking Alpha stock articles are just a glorified Motley Fool. Useless and inaccurate IMO. They should have just stick to their conference call transcripts--that at least, is a valuable service.
I was on the other end of a Prospect deal back in 2007. Our company was for sale, They were the most professional of the PE firms that were sniffing. They made an offer, which turned out to be the lowest of the 3. They did not chase the deal showing good discipline. The winners paid 30% more and then tanked the company 3 years later--helped by the end of the world in 2008-2009. That's why I bought some after watching it for years. While all this negativity hurts the stock price short term, I think they will prove the naysayers wrong.
With their cash on hand, plus the $12 million they should have about $1.20 of net cash. Rest of company and the $18 million in possible future payments (another $1.20) is trading for about $.25 a share. Definitiely a "gem".
You would think they would announce the receipt of the $6 million. Deadline to receive it was yesterday from what I read .
Please read their last earning announcement. Core revenues were $5.6 million. Legacy was $.9 million. 2013 legacy revenues were down 50%. If they have to sell stock to grow revenues, that is ok too. They get 2X on revenue growth. Only reason for all the negative posts recently is shorts picking on BLIN. Great, growing bisiness, they will get the cash they need.
The deal they announced is 40% of their entire market capitalization. Only a fool would announced their "margins" on a customer contract. Legacy revenue is almost gone so revenue should start to show favorable comps. Shorts may rule for a time, but value will win over the long haul.