Elliot,
Thank you for the due diligence work you have obviously put in on PCCG's 10K. However, like Arrowhead, I question why you continue to be interested in following this company? Certainly, as Arrow points out, with such a small float one has to be crazy to short this stock. Further, with PCCG now selling at 3 1/8, there can't be much margin for potential profit left in the stock on the downside. As for us longs, I am concerned about the accusations that you make, however, at this price the company can not go much lower and the up-side possibilities seem much greater than the 3 1/8 maximum downside risk. Further, with 85 % of previous year's sales coming from Western Digital's products, and with disk drive sales being in shambles over the last year, it is somewhat understandable the PCCG's revenues would be down, as the company reported. And while your accusations carry many seeds for concern, your writings are distinctly negatively biased.
I think though, you would gain much more respect here if you would explain your motives, and why you continue to put in the research work on this company, that you obviously do. I for one therefore, have to question the accuracy of your reporting, because I can't figure out what your reason for anonymity are, or your vendetta motives. On the other hand, I also can't understand why the company remains silent by not answering your serious accusations?
Jules |
