>>... doesn't all this screwing around with the filings indicate a failure of the company to anticipate problems? <<
If I hadn't spent the time and effort to dig deep to find out what was going on throughout this process I probably would have agreed with you.
However given that this is relatively new ground that ASI is breaking, I don't know if there is anyone out there who could have anticipated all of the twists, turns, and hoops that the regulators have made this company jump through. It is my understanding that many of the MM's were not clear on the rules themselves, and once Quentin found out himself, he had to tell them what the next step was.
I have come to accept the fact that many of this company's problems were as a result of their name! Even though it may help people finding it near the top of a list, the fact that their name begins with an "A", is really the root of this problem.
The regulators decided to get tough with the companies. Good idea and I applaud it. But dammit, they started this program by targeting companies alphabetically. ASI was lumped into the first group.
I am convinced that it was so rough for them because there really was no one they could turn to to help them, or at least warn them about the pitfalls and problems along the way. Remember, this highly publicized effort was a new initiative which involved multiple regulatory agencies. The people who were working in these organizations were obviously busy given what was going on, and ASI was forced to take someone's word for what was happening, or for what was the next steps were, or they had to figure it out for themselves. It appears that they, and others with whom ASI was dealing with, were really not clear on all fronts as to what was next and when it would happen.
I believe that this last Email helped clear up many of the remaining questions I had with this issue, and I still give ASI and Quentin particular, credit for doing what must have been an extremely frustrating and unrewarding job. Fellow employees, investors, and regulators all were probably on his case. However, I can assure you that I was too. I lost count of how many times I phoned him and grilled him on what was holding up this process. To his credit, he answered my questions and did not dodge them.
One thing I am convinced of is that ASI could probably meet, or exceed, their revenue target for next three quarters if they stopped everything they were doing and offered themselves up as a consulting company for the unfortunate companies who (because of their place on an alphabetical list) are just about to enter this regulatory swampland. ASI seems to be coming out of it now, and I for one am very happy that it is almost over.
As DRT advised in his last post, what we have to do is look to what this company has been doing while this has been going on, and get ready for what could be an exciting last 4 months of the year. We can't let this speed bump make us lose sight of just how good this company is.
Crazy Canuk |
