They mismanged every part of this company. A high school kid could do better.
To remain silent and fail to detail a plan for shareholders is beyond reproach. They have some very valuable assets that can be sold or manged by professionals. Every day they waste is a crime against shareholders.
There was a time a thought that the some of the parts was worth $3-4 easy. I was assuming that they could generate decent cashflow from Wetpaint and that the $30 million they spent for it was worth at least $25 million. I also thought that Choosedigital would ramp sales to big loyalty programs and be worth $15-$25 million. In addition I loved the Viggle App and thought they would at least bring that business to cashflow neutral...after all it is just an arbitradge play how hard could it be. I think Viggle Football could be huge still. The missing ingredient is management...Sillerman is God aweful..bordering on criminal and incompetent. Uses debt for everything. The fantasy sports play could be a $100 million enterprise and I hear that managmnt there is very good. The silence from the parent company is deafening......
They are very savvy and are partners with Sportech which has deep pockets and legal experts. Draftday will do fine.
are working with state governments to work withing created regulation to operate. That is all states want..to regulate the games...they will be back and bigger than ever
The state of Virginia just regulated Fantasy sports imposing 50k license fee....not bad at all...All the states will follow similar paths
Friday March 4th after the market closed they announced 4th Q numbers etc...they do not have their act together at all.
They announce things when markets are closed on Fridays and most people are away from their desks. The value in this company that has been wasted is astonishing. Complete inept management.
fantasy sports will thrive under a regulated marketplace..the states are getting their act together and approving them everyday. DraftDay subsidiary will be in a good spot once they raise some additional capital and react to regulation. However, Wetpaint and Choice Digital are loosing too much money and despite being great concepts are mismanaged like everything in this company. There is too much debt and no cashproducing operations.....the company will go Chapter 11 or somekind of reorganization unless they sell Wetpaint for $20 million plus....Not likley...
Big Block sellers today...game over
they need to outline a plan to shareholders..although its becoming more apparent that Sillerman and his incompetance is about to cause another reorganization here....
the company remains silent......terrible