***Response from Joe Lanza***
Chris,
(Sorry, I just HAD to respond.) Xecom is really a start-up company. It
has spent and is spending borrowed funds. The question I put to you
and others is this: Do you see another company that has borrowed
$30 million, then refinanced, dropping the interest rate from 11.9% to
10.25%, all on a supposed value of $3.6 Million?
I cannot tell you for sure why the price of Xecom is down but the company
is moving ahead. I know you and many others are angry. I am angry, too,
but I don't have an axe to grind. I am not paid when you buy or sell--
when the Xecom price goes up to certain level, I will make money. I
win with higher prices, just like you, Wes, Jack and the others.
Xecom has made huge improvements and will continue to make them. At the
current time Xecom needs to buy back the preferred D position. Andy
Proctor is a good guy but the street will play his stock position like a
fiddle. The traders can short sell the stock to their heart's content,
knowing they can always go to Andy to cover themselves.
Dan has said in the past that I never say anything bad about Xecom. Usually
this is because I'm the last guy to know. Maybe you think it's too late.
I don't believe that. I don't want anybody else to get jacked up and down
by the traders. 15 cents is as low as people can buy at this time, knowing
about Andy's position. Once that position is gone, I feel the stock will
move--and I hope it's before February 23rd.
Joe |
