Technically, Struthers isn't required to submit any quarterly reports to the SEC, since they are a bulletin board company. Nasdaq is contemplating changing the OBB listing requirements to require reports to be filed. Struthers did it in the past because they were an Amex listed company, but with their anemic balance sheet they have no incentive to post any numbers.
What I'd like to know is when another annual shareholders meeting will take place. I'd like to vote Raoul Carroll out of the Chairman position, seeing that under his "leadership" the company has lost 95% of its market capitalization from its split adjusted high of 12 1/4. If this were Ginnie Mae (where he came from), do you think he'd still have a job? He seems to have this pompous, stubborn attitude that he's going to catch all these market makers with their pants down, and he'll have the last laugh. Unfortunately, he feels it is fine to play his cat and mouse games at the expense of the shareholders, who have watched their hard-earned money dwindle down to practically nothing. Do you think Bill Gates or Andy Grove or any CEO of any reputable company would allow their shareholders to lose 95% of their investment without a peep? Probably not, because part of their mission is to enhance shareholder value. Rauol apparently has his own agenda.
Sorry for the negative sentiment. I've always been a big supporter of the company's concept and remain a shareholder (only because it seems senseless to sell at these levels), but this "any day now" response is getting very old. Every day they wait is one more day for competing technologies get ahead of us. Last time I talked to Raoul, they hadn't even started testing with Ameritech (which was supposed to start in the 1st quarter of this year). Which is consistent with their announcement the prior year of intentions to conduct tests with Wreply and ICS, which also never took place, and which was never made public until I asked O'Keefe about it during a conference call. So what have they been doing the last two years? Apparently nothing besides playing around with their organization charts. C.P., don't you wish you were back with Hughes? 'Nuff said. I feel better. Poorer, but better.
Gator |
