Part V
They couldn't warn anyone when they didn't know. By the time they knew, it was release time.
Many of you will feel this is a poor excuse and perhaps downright irresponsible. But if you listen to the conference call, you will notice that the undertone is to build a rock solid company with dynamic potential without regard to pleasing short term investors or traders.
Their focus on a 14 hour day to day basis is building a company and letting the accountants be accountants, not tweeking their financial model and fudging numbers to satisfy short term traders.
So there you have it. I've spent about 10 hours of my weekend putting this together for all of you so that it provides some insight as to what really happened here.
No, the top brass at Osicom isn't stuffing their pockets with options at the shareholders expense. When you put together a company this quickly via complex financing methonds, there are bound to be some surprises as some of you correctly predicted, be it additional shares, write-off's or restated financial results.
Perhaps this is what the brand name research firms were waiting to get flushed out of the system before initiating coverage. Before you hit the sell or panic button, I suggest that you ask yourself what the reasons were that you bought Osicom were in the first place. There are likely to be several of them and then ask yourself what has really changed. In my opinion, fundamentals are stronger than ever and have strengthened dramatically over the last 6 months, with the signing of 4 distribution partners (which should add at least $40 - 60 million in annual revenues), new products and 7 more to come in the next 3 weeks, key contracts with major companies like MCI and Sequent, and of course the barn burner of them all, ABCN, where the sky is the limit and will help open numerous doors in the future.
I'd like to close with a quote from "Sttale", a frequent AOL FIBR board poster, "We have just assembled the team and everyone wants to bail before we even get to play a few innings? Sometimes people just amaze me". |
