4321,
There are a number of reasons to not jump on board this train. I would not recommend to anyone to buy this stock at this point in time.
It is facing delisting in the next two to four weeks, and at the current level it will not qualify for the capital (did I get that right Tour?) market, the Nasdaq JV team.
The company has interesting prospects, but is running on ether and we don't know the terms of the capital that will come very soon.
The economy is shriveled like a wool sweater thrown in the laundry and drier, and IT spending is too.
The FDE drives are not being taken up at the rate that Seagate or Dell expected.
There are good things, for sure, and I have written about them.
But there are 1200 documents up on unclever, largely demos and partners that never bore fruit. Then there is the IPO and 26 financings, and still not breakeven. There questionable practices - like the founder shares of WXP, the giving away of WIN, the entire BIZ transaction, and GlobalWave. And there is the history of the founder, which as best as I can tell, never successfully founded a company, and of those that he bought out, I find only one that didn't lose money or go bankrupt - National Semi.
However, he purchased that company w/partners for about $3.75m in 1965, and by 1994 he only held 9,713 shares of NSM – less than $250K - of which 3,000 were held by his wife. In 1995 when he resigned NSM he owed NSM $450,000. and, best as I can tell, that was his biggest success.
There are many reasons to not jump on this train.
Why did you? |
