Not one mention of SCF:
thestreet.com
thestreet.com
Maybe because SCF is a POS vacuous, offshore, non-reporting company that's going nowhere and is going to bite the big hairy one soon?
Searched further, and found no articles about SCF at thestreet.com:
find.thestreet.com
So a resort operator -- resort operators are known to be extremely tech-savvy - pays $5.95M for Mirror Image, and a few months later created $600M+ in market cap?
Sounds like 2themart.com (TMRT/TMRTE). They were supposedly going to spend $10M and have IBM build a auction website for them and they were going to compete with EBAY, AMZN, YHOO, etc. TMRT's market cap zoomed to almost $1B, if I remember correctly. Those who follow the market closely know what happened with TMRT. Shorters made a bundle off of TMRT.
Business 101: If creating $600M in *real* worth is as easy as paying $5.95M for a company (one that has nothing to do with the industry you are current in, no less) or paying IBM $10M for a web-site, everyone would be doing it. The fact of the matter is that it is not that easy and only temporary, illusory value is created.
The question again is, why weren't the other tech companies interested in Mirror Image? Net and other tech companies can crap out $5.95M quicker than you can say, "SCF is a dog". If Mirror Image were of any value, it would have been sold for at least $50M in The Valley to a net or other tech company. Instead, Mirror Image is a POS, The Valley knew it, and that's why it didn't buy it, and Mirror Image was bought by a resort operator instead. If the resort operator didn't buy it, Mirror Image would have started approaching the hot dog stand operators around Fenway Park to see if they could do a merger.
I can just hear Mirror Image's management saying, "We know we have the technology that is going to revolutionize the Internet. Oh, here's an offer from a resort operator for $5.95M. We'll take it!" LOL!
Think about what is going on with SCF. It may go higher -- I will be prepared -- but the chances are it's going to tank hard, and soon. Smoke and mirrors only work for so long, even in this insane market. |
