George and Randy,
The balance sheet and income statements in my opinion is still in need of much improvements. End of April 97 statements came in at a loss of $.05 per share. The new fellas from Timberline will take some time to blend into the company, learn the products, re-establish themselves and to fit in. Just like you or I with any new job we accept. So we can't expect them to make improvements instantaneously. Furthermore, Murray stated that in October he expects things to further improve, I think we just have to give him/them the benefit of the doubt and evaluate the situation again when the time comes.
I have not added or sold any shares lately as I am waiting for the completion of the rollback and till the incoming information comes clearer. However, I still remain optimistic for the longer term and will continue to be a shareholder. Just how much remains to be seen.
What I am afraid of is once the rollback is complete, we now have a new level in which to fall. If there are any trading days with abnormally high volume it would be an opportunity for liquidity and to adjust our portfolios whether up or down in price without participating in sinking this stock further. I really think that Exor's hands are tied with the new financing as they will need some very soon. Unless they get a sudden surge of income which I don't think will happen. My opinion of course.
I honestly believe the best course of action is probably just to tuck this away and allow the company do its job and resolve its own problems. That is the beauty of a being a shareholder. You really find yourself going nuts watching this or any other company on a day to day basis. Besides, the anticipation will kill you. All good things that ever happened to me took time and sometimes a lot longer than originally anticipated. And this is one of them.
If you have not been to the facilities at the Conac Group, you should make a point to visit it, if you people out there ever get a chance to come to Vancouver. Let me tell you that it sure is a good feeling that when you walk in the doors as a shareholder, you know that you have bought a piece of a real company. However, it is a junior and patience is the key.
The weather lately has been absolutely fantastic here, just bought myself a new jet ski a couple of buildings away from the Conac Group and will be busy at the beaches showing it off to all the babes for the balance of the summer. Have a good one guys and best of luck for the remainder of the year and beyond.
Cheers, Wee |
