Good call; CTSC is at $1.55 this morning. They added a board member yesterday, Jane Hsiao, who immediately purchased 200,000 shares at $.75 per share.
sec.gov
They now have 4,586,758 shares outstanding. Assuming that the company burns through $150,000 during the first six months of the year (they estimated their total burn for the year at $300,000), they have now have about $3,525,000 in cash. That works out to about $.77 per share. The market is obviously expecting something to happen sooner rather than later.
At the risk of boring you, I’m going to add a few comments about the background of Greg Amadon, CTSC’s founder. Amadon founded CTSC in 1988 and got kicked out as its CEO in the early 90’s. He subsequently founded Virtual i/O, a developer of virtual reality headsets. He raised $30 million for the venture, $20 million of which came from TCI (John Malone). He got kicked out of that company in 1996 or 1997. Virtual i/O closed its doors shortly thereafter. Someone actually wrote of book about the company (the name escapes me, though it is sitting on a shelf at home); Amadon does not fare well in the book.
He then founded Terabeam. He got kicked out of that company in 2000 and pocketed $100 million when he sold 50% of his stock to Softbank.
Message 14321328
I met Amadon in the fall of 1994 and spent a few hours with him. Very, very bright. Now rich. |
