Please relax and read this.......................
First of all "Barron's" is known on the street as a 'short seller rag'. They have tried to destroy many companies in the past and most of the time they have failed miserably. My most fond memory is the 3 FRONT PAGE bashings they gave Amazon.com almost 1 1/2 years ago. They wrote far more superior articles then and more in depth explaining why AMZN was worthless. The stock went from 15 to 600, adjusted for splits. Barron's is a rag paper. The shorts have gotten them to publish some negative trash since CNBC ran a story last week citing the growing importance of 'target specific internet portal sites'(ie. Hispanics, African Americans, women). PASA was briefly mentioned as was Starmedia. Barron's trashed both this week. Mostly they have idiot college age students doing the research, and it is frequently incorrect and flat out libelous. They have been sued on several occassions.
Lets remember a couple of things. The company JUST raised 45 million dollars. They have it in CASH, so the valuation stated in the article is really just 80 million or so for the company(One third the current valuation is in CASH). PASA JUST began its advertising program in AUGUST. Give it a chance. I am beginning to see Quepasa.com on the sides of buses, billboards and subways in NYC. Next will come radio and television. Speaking of television, Telemundo (largest Spanish network in USA) OWNS 10% of PASA and has a deal with them to provide 5 million dollars worth of TELEVISION advertising. A Hispanic spokesperson is in the works.
Lets not forget the management which can be seen here:
corporate-ir.net
Among the directors are Bill Siedman, chief economic commentator for CNBC, Jerry Colangelo, CEO of the Pheonix Suns basketball franchise and board member of the Arizona Razorbacks (some of these players will no doubt end up advertising for PASA), Alan Sokol, COO for Telemundo, and Jose Maria Figueres, the former President of Costa Rica, 1994-1998.
These guys are the real deal. They did not attach themselves to a company to lose money. They are all substantial shareholders, and all wield substantial clout. Bill Siedman alone owns 1.7 million shares of PASA, and he was a former economic adviser to President Ford. Management is littered with Harvard MBA's.
So lets all relax. A rag paper just wrote a sophomoric little blurb of an article, poorly researched (if at all), and clearly clueless as to how new startup internet companies function. Quepasa.com will thrive by yearend. Give them a chance to invest the 45 million you so happily gave them at the IPO, and lets see what happens in 6 months. Remember, AMZN was floundering for the first 6 months its stock came public, and at one point the stock fell from 30 to 15, (I know I bought some at 18). At the same time Barron's was killing it in their FRONT PAGE with Alan Abelson leading the lynch mob.....boy does he have egg on his face, huh?......600 adjusted for splits.....Don't even look at PASA stock price next week unless you want to take advantage of cheap prices to buy more stock. Otherwise, relax, you are in good hands, give them a chance to put the money to work. Why not spend some time at the Quepasa site, register, become a user and email them suggestions about what you would like to see there. It beats complaining on message boards, and at least PASA will get the extra hits and eyeballs!...................;^)
quepasa.com
Relax. |
