Matty,
Hear me out loud and clear.
Also when you listen to what I say just forget the fact that you are long on this from god knows where.
First of all I have nothing against Tom or the co and frankly I dont know the industry to see where it really is going, hence I literally begged you to stay around in the face of all the naysayers, if you remember.
Here goes----
I have problem on following;
1) A few days ago when I talked to IR I was told 12 mil at 3 mil float.
Today it has changed to 12 mil and 4 mil float
2) Forecast for 98 was 12 - 13 mil
today its 24 million. This with out any financial backing from the CEO whom I gave an equal time. He repeatly told me he is not sure, he dont know, better ask the chairman in UK. He dont know the no of Chairmans tel no.
Well if I was being financed by a guy in UK in tune of 5 mill and 20 mil, I would know his home no, car no, office no, his mistress no, his club no by heart.
3) I was given an impression Tom was a software guru who came up with this idea. Today I find out he is a finance guy who invests in small cos and watch it grow.
4) Co who is starting as a new high tech software co with 15 employees has 4 engineers and 6 management, 3 sales. I think it shud be other way around, I would like to see 10 engineers, 2 management and 3 support. Its obvious this co is more concerned with where the money is coming and going then having people work on the technology.
3) Revenue forecast was 12 - 13 million, over night its at 24 million, by same CEO who doesnt know how many clients he has and what the finances of the co is and dont know any thing about SEC regulations. I would be worried. Its like me running my restaurant with out knowing the NY Health Dept regulations or who my biggest clients are and what my demographics are.
4) CEO sounded sincere and I am not calling him a liar, but if I was the ceo of the co trying to get a comp advantage , I would fire the PR firm, who was linked to the H&K scandal and is being sued ( He says Atalanta didnt know ! BS IR and the Co work hand in hand , and in this case more closely than others since they are in the same building, negotiating the scenery of the investment criteria ., i.e., conflict of interests? - I am sure you heard of that. Remember IR told me he is indepedent and its his own separate co. yet they share same office building, same staff, I am sure they cross manage manpower on work load.)
I would also fire an IR guy who swears to the queries of investors.
We are not buying a box of meat in Bowery. We are buying an investment concept.
Also I am weary of the chairman sitting in UK, where most of the reg Ses take place.
I met a quite a few of them when I was based in London. They usually set up an office in Mayfair and work on the US BBs.
These are a few of my concerns and I am not saying that this is a scam but I dont think I am comfortable holding this now. I rather all those who came on board made a few penny profit for now then sit here with the angst I have.
I mean after all with all the news hitting the wire including the 12 mil rev projection at 12 mill shares at 70% GM as told by IR and my calculation of .6 EPS for 98 didnt pop this did it ?
If it does pop and if I do see a legit reason to jump back on hey I will. I just like to know what I am buying !
Matty you should keep posting your findings and also ask your parents what kind of margin they have from their ads and see if Alta Vista at 6 weeks for 25,000 dolars on yearly basis with 10 - 15 uncertain clients as of today will constitute 24 billion dollar rev next year.
Joe TPRO |
