A close associate of mine talked to Alon last week and Alon stated that it looks like they are going to issue MORE Regulation D shares. Just what you wanted to here, right? This company is beginning to disgust me. Two months ago they state there will be press releases released that will "make shareholders happy." Have any of you seen one? It is beginning to seem to me that they are stringing the shareholder along by dangling carrots ( "deal coming soon", "we're on the three yard line, ready to score a touchdown" direct quotes ) in front of the shareholder. Meanwhile, they stuff their pockets with outrageous salaries from the Regulation D and S shares.
Alon, since you state that you monitor this thread, I've got a suggestion. If management is so sure of the product, why don't they take a salary cut until things turn around instead of constantly hurting the shareholders value with these issues.
One more question while we're at it. How can Palermo justify a 250,000K salary when his company is unprofitable? CEO's of much larger profitable companies have less salaries. It is slowly beginning to appear that management is fattening their pockets through Reg Sand D until this dog is bled dry. Hell, Palermo is even bringing family in on the deal! You too, I guess. Why else would you leave investment banking to manage investor relations for a unprofitable company. I'll tell you, dollars and many of them. If you have answers to these questions, then answer this one. With soon to be over 41 million shares outstanding, how many is too much for management. Do they realize that they are reaching the point of no return. Or do they think that Reg S and D are an ever growing money tree. Let's see some answers, if there is any. If you do not want to answer in a public forum, e-mail me @ TwoBare@aol.com. Silence will affirm what I already believe to be true.
Meanwhile, the stock drifts lower, and lower, and lower.
A Disgruntled Shareholder,
S. |
