I think Dr. Markman has a prediction of how revenues are going to be generated, and I am sure projections have been made. It is just that we are not being told about them. I would guess the Board is.
I agree that management has made errors in the past. I think that we are still paying the price from the bungled Portico launch both in the opportunity cost of the progress the company could have made pursuing other courses of action and in the company's need for additional funding (dilution and abundance of stock supply as being witnessed the last two days, imho).
We are also paying the price of inaction caused by others. Dr.Markman stated clearly that GMGC is ready for deployment of Intuit. Intuit has a new CEO, which could have caused revised thinking. Intuit may not be willing to pay GMGC enough for its service compared to what GMGC is asking. Maybe GMGC is making a conscious decision to allocate its NOC and resources to better paying deals. We won't know that until they happen. But I am willing to "keep my eyes and ears open" per the Conference Call to see what happens over the next few months.Additionally, Wireless Knowledge and Qwest delays cannot be blamed on GMGC,imho.
Most importantly, I believe that management has taken sensible steps this year to move the company in the right direction. MyTalk is a good start. I like the Excite deal and its potential for expanded services. The reorganization was a good move as well. Management has made the decision not to announce any alliances any more until they are done deals like GM and Excite. No more teasers that get delayed. I think it is a good move. New advertising firm. New IR and CFO personnel both a positive.
If the stock was a $3.50 today I believe we would not be having this discussion. But I also believe that a big part of the reason we are at $2 1/8 is the Conversions. Big price to be paying, I acknowledge. Imho, they pushed the price down to $1.50, got millions of extra shares during the reset period. Announced right after on the S-3 that they were offering shares, and now they are acting on it.
They aren't long term investors with most of their shares. They are making a quick killing on their investment and cashing out the majority of their shares to go do another sweetheart deal somewhere else. That is the business they are in.
I cannot argue with the frustration level. I cannot deny that we have paid a big price for the Preferred financing and delays to market. But I do believe that management has demonstrated an ability to make moves as this year has progressed to take the company finally from the R&D stage they inherited to an actual service and technology provider which has enormous potential as the very new markets in which they are involved (as leaders,imho) begin to mature.
Seconds Out. |
