David: There's plenty of fundamental "positives" to cite as "reasons" to buy back into CORL. Many have have already posted on the thread in detail. As to Dr. Cowpland, its time to let "bygones" go. He has taken a brutal beating in the press, on this thread (including me), and in the value of his remaining shares, (still about 10%). The criticism has been so sharp, most of us would turn tail and run. But Dr. Cowpland has not only stuck around, he has taken many necessary steps to re-position the company for the present and future. Look at all that he has done to put things right since that time.
1. New CFO and auditors.
2. Re-stated the financial statements.
2. Refocused the product line and R & D.
3. Cut costs with large layoffs.
4. Sold off CD Creator, Netwinder, and jBridge and other things,
in a way that can still produce value to CORL should these
products ultimately succeed.
5. Actively created many OEM deals that will produce a great deal of revenue in the next two years (see previous post).
6. While not fighting directly "against" Microsoft and Adobe, Corel has released quality products at least as desirable as MSFT and ADBE.
7. Linux. Dr. Cowpland has been much more cautious than with Linux than Java, and has been actively participating in the trend without betting the farm on it. Linux is here to stay, and Corel is positioned to profit in a big way.
I said two years ago, and still contend, that Dr. Cowpland will redeem himself from the criticism by increasing shareholder value, and its happening. You can either jump in and profit from it or continue to hold the "grudge."
As to takeovers, I'd prefer that the share price rise on increased revenue and profits, then look for a much larger takeover premium later, should it occur. But either way, its a win.
Thanks for your post.
Scott |
