Hello Mark,
Hope you're right re: more activity as the story unfolds. I look forward to the day when I'm forced to find a new home for my diary, 'cause this board is inundated with people making lots of $ on HARD. That's what I'm betting on.
In the meantime, my understanding (& thoughts) on your major concerns (which I share, also):
<<1) Not much capital to work with. They'll need to raise capital immediately to continue operations. As long as they can raise the capital, I'm not too worried about the dilution. It's a much bigger problem if they cannot raise additional capital.>>
Raising capital is probably HARD's #1 priority right now. The 10/16 announcement of William Lavin as new Board member gives me great confidence in this regard. Why would HARD bring on a person of this caliber if they weren't fairly confident of continued operations?
Better yet, why would a guy like Lavin agree to join HARD today, only to see it go belly-up tomorrow?
I believe HARD is trying to raise $500K, no more than $1M. Dilution effect shouldn't be too severe.
2) <<Still no sales. I was hoping for a small revenue stream by now.>>
Me, too. But I really wasn't looking for any sales, since company didn't begin full production until sometime in September (beginning of Q2).
HARD definitely got off to a slower start than originally thought.
This situation had better be changing as I write, or else my $ are in a whole bunch of trouble. I believe it is.
3) <<Still no contracts that I'm aware of. Anybody know of any?>>
None known. I've been told that no contract announcements will be released until contracts are signed, ink is dry, and Letters of Credit have been secured.
Ultimately, I believe that shareholders will benefit from management's conservative approach. In the short run . . . well, everybody needs a private place for their diary, right?
As with full production capacity, HARD's shareholder meeting has been pushed back. I believe plans are to have meeting in late November or early December. A lot more should be known by then.
Have a good weekend,
David |
