FWF notes
some out-takes. It's not word for word. It's paraphrased. Quotes are just there so you know they are not my comments. I only have one comment on this page.
Fred said "nothing prevents the volume from moving up."
SH: Is 5M/sh/day a realistic expectation?
Fred: Definitely. It's almost a sure thing.
SH: How many users on the system?
Fred: 20+ users though most volume is by 20 users.
Fred: "we have learned a lot with regulatory stuff in the last few years"
Fred: "end of summer the second session should be out, if not, then later."
Fred: "we made 225K from vwap vol. in the last year."
"ATG had 300K in trading losses, we call it lab work."
Carey Tennenbaum: Will ashton announce volume when they trade nasdaq stocks"
Fred: "other companies have gone under before ever doing any business."
"We will have liquidity. I just can't disclose to my competitors (on this webcast) how I am doing it."
SH: Will the 10:30 market steal from the preopening market?
Fred: "it's a different group of people."
Fred: "I'm going to get the big guys. No question. I have talked to them personally. I have been in SF, LA, Atlanta, Boston last two weeks talking to them. They will be there."
SH: Why aren't they there now?
Fred: "It's not their lack of desire to play with us. It's their systems. We've been having troubles for the last six months and are working on it."
SH: Do you have enough money?
Fred: Yes, 7/16 we revised our financing. It costs us 50K a day to operate. In 2-3 months we should break even, by the fourth fiscal quarter.
SH: What about TSE?
Fred: We will launch phase one 9/17 or thereabouts. By 11/30 we will be fully operational.
SH: What honest evaluation of the company and profits can you give us?
Fred: Ms. Perez...very few companies do Friday with Freddy, in fact none." Then he just talked about vwap.
Fred: As of June we have a 950K/mo. burn rate. We get 1.7 cents profit per share. I'm sure 5M is going to happen. On two days we made half of what we made in the last year with vwap.
SH: What does Uchimoto do? Why doesn't he have key man life insurance?
Fred: Uchimoto does some public speaking... (sorry, I was on the phone at the same time)
SH: What about Weingard?
Fred: I've known Freddy since l993 from Booze Allen and he came on board later.
Webb Blackman: What about the Mary Cummins lawsuit?
Fred: I don't pay attention to that. The courts are handling it. (guess they're not winning or they'd be bragging)
SH: What about delisting?
Fred: We get 90 days if/when we get our note. We believe new investors will come on board once they see our products working well. We are aware of $1 price. We don't prop up anything.
SH: What about RGC?
Fred: They cooperated with us during our audit or we wouldn't have gotten a clean bill of health from our auditors.
SH: What about Jameson?
Fred: We got the line of financing just to be prepared. Many times Jameson has stayed long in a stock and didn't just dump it.
Fred: End of June we had 4M in cash, burn rate is 900K to1M. We got Jameson just as insurance. We are tight. If the stock acts better, we'll be in fine shape.
Fred: I own 4.8% of the shares or 1,628,000. My family members own more all by themselves.
Fred: We should break even by fourth fiscal quarter. Mark my words. Only restriction on access to Jameson funds is that the SEC okay the registration which we believe they will do. |
