Perhaps an excerpt from my recent post on RB (now buried deep in one of Baldur's spam projects) can explain why these discussions always end up being about you, Dish, and a few others-and why none of you sewer rats can seem to offer any compelling reason for the company to make any public statement:
<<There doesn't appear to be much of value that can be discerned from this phony trading that
is occurring out of that back of people's cars somewhere. Obviously some MM's are assisting
their bretheren out of some embarrassing short positions. Also, since trading will most likely
resume again this year, there could be some preliminary inventory accumulation by MM's
who plan to work the security at that time.
We really should distinguish between 2 tasks involved in reporting the statements. The first
and most important is the submission of statements and any necessary support to the SEC
for official reporting purposes. While trading could resume without this, it is highly inadvisable
from LEAH's standpoint, and I doubt they will go back to market without the filing complete.
The second task is a PR containing the information that's on the statements. This could range
from a full-blown 1998 annual report with a first quarter supplement, to just a short PR with a
few key statistics. Those of us who are long would all like to see even the latter-though the
more detail, the better we would like it. We would like to see this because we are curious,
and would like our opinions confirmed on paper. BUT:::That is the ENTIRE up-side of a PR
(with the stock not trading-there's no positive price effect). The DOWNSIDE is that some of
our good friends here will catagorically call the numbers fraudulant immediately, possibly
even before they read them. They will post this and begin a new round of public assaults on
LEAH. One or two might even call the SEC with their accusations, just to see if they can get
the pointy-headed cyphers jumping through their hoops again. That's is why I believe that
LEAH has been advised to put the PR on the bottom of their priority list-perhaps to release
one only within a few days of resumption.
The important story of LEAH at this point has changed from the publishing of their
fundamentals to the advantageous sale of Sib Mach Manufacturing. The maximization of
proceeds from this sale will have a larger effect on LEAH's future than investor's impression
of the prior fundys. Deals such as this are, of course, surrounded by silence. This forced
silence is also to LEAH's advantage, and leaves us in the same position as before: We
simply need to remain patient.>>
Once again now, any maybe we'll get LUCKY this time: What on earth does LEAH owe you, Dish, MTHONER, Morrison et.al?? A curious world of inquiring minds wants to know. Give me even one good reason why they should make even the slightest public statement for your benefit and I'll pass it along to them. |
