Ever wonder why Cowpland (and CORL) don't have any credibility or respect on Wall Street?
It could be the insider trading charges.
It could be the glitzy lifestyle.
It could be the fact that Corel's share price is not much better than it was 5 to 8 years ago.
But what really turned me off to Cowpland (and another nail in his coffin on wall street) was this sequence of events:
Dec 14 1999
Cowpland - "There'll be some significant Linux sales," Cowpland said, adding that results for the quarter, which are expected to be reported January 18, are "on track". "We can't actually go into numbers because we're in a quiet period. But the initial enthusiasm is really strong."
Dec 15 1999
Corel's respected CFO announces resignation
Dec 22 1999
Corel warns of revenue shortfall and expected loss
"Corel Corporation today announced that based on a preliminary analysis of its results for the fourth quarter ended November 30, 1999, it expects to report revenues of approximately $61 million. This revenue level will likely result in a net loss of approximately $0.14 per share."
relevant links:
zdii.com
Cowpland flip flops
But in recent weeks, Cowpland emphasized that the fourth quarter was on track with the fourth quarter. Just days ago, a Red Herring reporter noted, Cowpland told an audience that the quarter looked fine.
In a Reuters story Dec. 14, Cowpland had this to say:
"There'll be some significant Linux sales," Cowpland said, adding that results for the quarter, which are expected to be reported January 18, are "on track". "We can't actually go into numbers because we're in a quiet period. But the initial enthusiasm is really strong."
biz.yahoo.com
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