HR, Thanks for the positive spin on the latest report.
Most of us are not saying much about it probably because it's so bad. Not that I'm surprised... You know how I feel about this management team, so as always, let me be the bad guy and raise a few points and a few questions.
01. I agree totally with your assesement about Reverse Split. Not enough of us voted against it in the proxy, so all they are saying is that it was approved by the shareholders, that's right folks, you the SHAREHOLDERS approved the split. If and when they do it is another story. I am a firm believer that they will do it eventually. That is my opinion based on managements track record of doing business.
02. "Version 3 of MaxLite was just introduced in mid-summer".
Yes your right, but version 1 was released over a year ago with glitches all over the place and they made a very bad first impression on the industry. Remember, it's human nature for people to go with the leaders. And that would be STUART, BCM, and GAMETECH. Each company has 1,000's of handsets in place. If you were a hall owner, wouldn't you want proven companies with established product and service in your hall??? AGTI's reputation is whats slowing them down. A change in management is what would sway hall owners from competitors to try us out. First time hall owners seem to be going with the leaders. If our handset is so much better than the others, why are we so far behind???? Management!!!
03. Also keep in mind that we've had working fixed base units out there for years. The orders are just not there. Let's not try to make excuses for these guys. They are under performing the entire industry. And this lastest report proves it.
04. The recent announcement about orders said something about generating approx 250,000 a year when fully installed. Well, don't forget that salary increases for top management kicks in in 1998 and will completely offset that order.
05. Management assured most of us in 01/97 that we were turning the corner then. All they did was make more mistakes and loose more money than the year before. No one will lend them money. They pay for everything with more shares. This company is the laggared in the industy. They are loosing this race to companies who came in later. No matter how good their product is, their reputation in the industry makes everything they do a HARD SELL. This company needs new leadership and guidance. Our shares are .10 because that's all they are worth. You and I didn't cause that. Management did...
06. What ever happened to SONIC??? Anybody know??? It looks to me that SEGA has cooled off. Since it was supposed to beta test in 04/97 I've got a feeling somethings seriously wrong there.... Someone please correct me if I'm wrong.
07. By the way, I believe that BCM IS THE COMPANY AGTI tried to buy. So I'm glad to see that we are doing business with them anyway. But since their handsets are in over 100 halls they have no interest in installing ours, however, they do not have fixed base units so this can only do us good. BCM is well respected in the industry so their credibility should help us alot with their clients. It's the only good news I've heard lately.
Remember folks, every once in a while I've got to post my reality check. I hate where our shares are, and I hate myself more for having held on so long. At this stage I have no choice but to hang in there and hope like the rest of you. I DO NOT see the light at the end of the tunnel yet. If any of YOU do, please post it here and cheer me up.
It's quite disappointing that most of you post questions to HR and expect him to do all the research. He does a great job at trying to answer most of you. I think if HR stopped posting this thread would fall apart. He's a firm believer. I wish the rest of you firm believers would help him out and do some digging. We need more informative posters both pos & neg. You know me, I'll cover the negative stuff......LOL
AR |
