It will easily be another 3 or 4 weeks for quarterly results from Weaver & Tidwell recently hired for the audit / review. The board approved another dividend so they know things are not critical. Plus 210 / GSB Acquisition keeps buying huge amounts providing support. This is one time that Thomas Brown needs to make a statement letting us know that things will work out and the future is positive as changes are made. Not anymore comments from senior officers who might be part of the problem.
The law firms seem to be desperate for customers in this case... I have never seen anything like this...
big swings on the stock price of interest to traders. The percent changes are astonishing. The issue: confidence or lack of confidence in the accuracy of revenue and income.
So I noticed in Dallas today 13 tow trucks lined up at an accident hoping to get the two drivers attention and win the business. I guess the 21 law firms have them beat for looking ridiculous. The law firms are embarrassing. I don't plan on responding to them even though I lost a significant amount on paper. Why ruin a company that does most things well and can generate long term profits for shareholders.
The law suit is based on insider information. Only insiders could get that kind of information.
My guess is GSB will settle rather than run the risk that a trial can reveal other skunks in the woodpile.
The statement is already reflected in the share price. Onward and upward!
Bad news re internal review and restatement
does anybody know what this drop is about?
4.19 should be strong support for now and I expect investment funds to defend it extremely strongly over the next few days. The next support area is around 3.80 where RHA Investments bought heavily from directors and in the open market. I doubt it will break 4.19 but one never knows.
Also stock has had spikes on recent Fridays and it will be interesting to see what tomorrow, being a Friday, brings.
Globalscape website traffic has really picked up this week. The previous all time high for search engine traffic was 60% of traffic coming from search engines, source Alexa. It's been trending higher since March 2017 and moving above that 60% level, and now it's been reaching to 80% with the latest readout right at 90%. These are people searching for solutions, so good to see. Trying to think why the first thing that stands out is the dozen new channel sales managers they hired for Kenetix. You would see search from IT departments learning about it as well as potential customers checking it out. I don't see anything different in the search demographics, either. Looks like more of the same. FYI.
Greg, You're thoughts?
Share-based compensation: March 31, 2017 $619,000 December 31, 2016 $578,000
Compensation and benefits: March 31, 2017 $270,000 December 31, 2016 $176,000
Revenue streams I'm talking about match the description in Wikipedia or the dictionary about the income that a company makes and not the actual deal. So if you go to the stream and it's run dry, is it a stream. I'm not gonna answer that. I usually call a deal a deal and the money that flow from it the revenue stream. When I speak to new investment and I ask, Tell me about your revenue streams, I'm using the dictionary and wikipedia term about the money they are currently making, not the deals. I will ask about any deals, partnerships differently and not refer to deals as revenue streams. "Tell me about your partnerships and your prospects for partnerships currently before you." But I do understand that when a salesman or company wins a contract, they might say we got a new revenue stream! But I would be meaning in the sense of future money coming in. A stream with no water flow is not really a stream; it's called a dry bed. So there's some leeway but maybe a person hears it enough, they can think of it as meaning the deal, though that would be creating a new meaning. I alwyas said it here to mean that "after the free trial period of 3 weeks" we'd have the revenue stream start. But I understand the misunderstanding.
Has anybody seen other websites with Kenetix like the one that was posted here a couple of weeks ago? I haven't had time to look. Thanks for any links.
About employees at Globalscape, from what I hear, let me say it this way, my reach asking has been to about 1/3 of the employees, like some who are over that many in total. So I may talk to five people and they are aware of their associates, and nobody is fearing they aren't going to get paid nor have they heard anything like that. But in the employee handbook they got their paid holidays cut back, and that's what the poster here is referring to. It's not really a pay cut, but a benefits cut per number of holidays paid for. Paid holidays is a big perk and Globalscape has better perks than most, so I can see where that would come under review. But ... it is not the CEO's job to cut benefits, but the Compensation Committee's job to get into that, and they have a keen understanding of all the employment contracts, and with human resources and legal, make the recommendation to the board of directors. So you can't really pick on the CEO like he has that ability to go outside the policy or sub-committees of the board. For instance, stock options are granted according to the Black Scholes method and the same committee oversees that compensation as well. You know, working for a company goes both ways, so it's not just the company that needs to does right by employees, but also the other way around. You look at industry standards, at your contracts, and see what you think is the right thing. If you add to benefits, people are dfeinitely happy, but if you cut some, even if it's ethically right to do, I can see where people might not like that or take offense at it. And I don't think it is meant to be an offense against employees. It goes more to that and to efficiency than anything else.I was happy with the answers I got.
They are workin real hard to keep the pps down....real nice, we lost .94 cents in 12 days!.....Lets get these #'s out management and the delay hopefully is because the #'s are so good it's taking extra time.Wow when will the day come that shareholdres can realize a CONSTANT...my inch worm is running out of GAS!
Let's see, for a couple decades shareholders dreamed of getting to $4.50. Well we are here so it's not the end of the world today. The market is concerned due to delayed reporting. I still believe the future will show higher prices even if some issues need to be resolved. This company has no debt and a ton of cash so risk is pretty low that bumps in the road will derail future success very long.
The question about the 8ks.
I really do not want to say much until they come out, but I will fact check the stuff out of them when they do and give you all the real story. Hopefully by me writing this, they will put the real story out in the first place. This scandal is big and poorly timed, about to sell another huge chunk of the company like they did at the beginning of the year and if those investors know that a lot of the new license sales numbers are BS it could really hurt the price.
I do not envy the people in Globalscape right now. Still a chance that this costs the CEO his job. The board really should hire someone independant to do a real investigation and see how big the issue is and for how long it has been going on. Undelete the emails, court order the texts, the whole 9 yards. Post Enron you cannot be putting together misleading information out there.
Good luck gentlemen this is going to be wild if the details ever get out, and they are trying hard to keep them in.