Truthseeker,
I agree it is always the best to tell the truth. I also agree that hunting fraudulent companies is important.
However, wouldn't you agree that almost every start-up or turn around biotech or internut company can be attacked on the basis of poor financials and/or the fact that the company has issued stock below market during the start-up phase and/or subject to dilution due to financing? After all they are speculative and Big Bank is not going to give them prime rate loans. I am not saying its good or bad, just that it is the truth.
In fact, just to take an example that I checked almost at random -- Maximum Gain has quickly come on board to join the bashing here. I checked his posts and he supports a little company called DKEY. Last month they diluted their stock with a private placement about $5. It's got the usual warrants, etc. Now the stock is $15. In their next SEC filing, they will say a lot of the stuff that was discussed today on this board.
(Caveat - I know nothing about DKEY and am not bashing it. I am just showing that 5 minutes of "investigative" work will come up with a company that COULD be bashed.)
However, in today's world, we are all wary of litigation when we give opinions. The press and the court system is too easily invoked when an opinion is wrong. You know very well how that works and ironically you have been subject to both court and press excesses perhaps.
The accountants first concern is Covering his Posterior. You know that. Will you admit that?
Let's see if we can continue to have a civil discussion.
I'm not saying XYBR is perfect. This is a huge bull market. I don't see it ending tomorrow. Relative to other companies, XYBR is not out of line. In a bear market, they are all crap, including EBAY, Amazon, all the ISPs, most of the biotechs, etc.
In this market, companies exist first to make management wealthy. I admit that. If shareholders can go along for the ride, then fine.
If these boards are used correctly, management can be kept in check, salaries and perks can be reasonable and shareholders will benefit. So far, I see these boards being used solely as selfish ego promotion trying to hype one's position with opinions, if yelled loud enough, that the hype or bash becomes somehow the "truth."
Bashing one company as was done today is perceived as particularly unfair as it focuses on that company, which is probably no different from most of the start-ups and turn around plays in this market. Furthermore, using old news (the accountant's warning has been in each SEC filing) and causing a PR storm is really not different from the objections that you and Auric voiced concerning the press coverage to which you were subjected.
NEXT POINT - Would you agree that a going concern opinion does not mean they are going into bankruptcy almost immediately as Auric suggested. In fact, most do NOT go into bankruptcy. I am not denigrating the opinion. I'm just stating the "truth" as you profess to do.
I'd love to keep this civil. There is no need for the name calling and the bashing. Statements of fact pro and con are welcome.
I look forward to your response. |
