Looks like the annual report was designed to drop the price, not much positive in there. And the price has dropped starting with the day after it came out, although on low volume. I do find it irritating they can bring the stock down to 3 3/8 on 1000 shares. Two pieces of good news that can be gleaned from the report are the quality of the personnel and the fact that the company has survived since 1992 - seems they have had the right connections & have been able to impress enough people/institutions with their technology to keep up their funding even though they haven't produced revenue. At these prices, I feel it a disservice to their shareholders and their own company to not buyback shares when it dips. It's no wonder management hasn't been exercising their options (although they had another 60 days from the printing of the data in the annual report). As usual with this company, I feel it's either going down the tubes, or about to do something. The wording of the report certainly seemed meant to discourage any short term holders, cause selling, & lower the price - which has happened (again). We can only hope they wanted the price lower for some inside buying, stock buyback, or encourage a partner to buy a chunk at a bargain.
Would others please comment on the annual report?
thanks in advance,
Tom |
