Alomex,
Those even remotely in touch with the facts surrounding this company and its management, in particular Cowpland, gave up on this company eons ago. It is only a rotating group of naive retail investors playing BINGO with CORL that have kept this stock going. For crying out loud, it wouldn't matter if the company actually existed and they would play the same silly game of chance with this stock.
Corel is not going to make it selling a bloated Windows wordprocessor on a slow and buggy emulator for Linux. It really is surprising that they even get the sympathy of Linux magazines, before they pan the product. These rags need to stop eroding their credibility by implying it's a valid option versus Applix or Star Office. I guess even a hint of advertising revenue is hard to pass up, and they don't get a nickel from Microsoft. Some of these rags are conveniently forgetting to mention this is an emulation on Linux. Who is greasing those palms, or is it just anti-Microsoft and anti-Sun regardless of the facts? Still, the best they can muster is a "beta-like" product rating, so they aren't being totally disingenuous.
I feel comfortable in predicting that CORL will fall below the $1 mark before the year is over. Their press releases are full of child-like rhetoric aimed at naive investors, but they pulled this same "profitable in 4th quarter" gag before. What they do is take massive hits in the quarters that preceed the 4th, and stuff the channel with products that they immediately recognize as revenue at the last minute. You can guess what happens the following quarter: the stock crashes as those "in" on the game sell back to the suckers.
The CFO was rumored to have resigned because they returned to this strategy. He wanted to maintain a policy of reporting actual revenue rather than reporting fictional revenue because they managed to load a few trucks with product, destined to be returned. I guess faking revenue with bogus shipments was beyond his ability to stomach. I wonder who Corel's "buyers" are. Somebody should look into that to see whether this shell game is legal or not.
It's possible the suckers could fall for this again, but it will be more difficult to pull off. That's why the stock is going to plunge, IMO. |
