$12 BID, Floating Point Systems and Aanderud/Kent Koski*? TMSR stock down 20% since secondary announcement.
The answer lies within this thread, i.e. we believe there is a statistically significant correlation ceofficient between these three variables.
We are beating and will continue to beat this one to death. When a company does not acknowledge a problem the shareholders have a problem, big time, in our opinion. There are too many smoking guns at this point 1) web site, 2) (shareholder unacknowledged by Company) wording on NASCAR Pro/Formula One site, 3) Classified Board 3) stock option repricing because stock dropped because management failed to perform whaich was proximate cause for temporary shareholder value destruction and the Board approved to reprice their options at the new management destroyed price and cited publicly by management they were afraid of Microsoft. The shareholders were not asked nor available for comment. 4) Preferred Stock creation/imlications. 5) TMSRs growth strategy/secondary simply a fiasco 6) stock is trading at 20% discount to announced price which was 20+% discount to its immediately previous high and ~$1 lower than when Wedbush issued BUY in early October 7) Secondary prospectus is incomplete and poorly done. 8) Company has failed to capitalize on its leading branding, channel, market share and alliance dominance/leadership infrastructure in selling this secondary all coupled with unprecedented quarterly earning/revenue performance.
TMSR is turning (temporarily?) silk into a sow's ear. Non insider shareholders as well as TMSR employees should be concerned as their shares/options are at risk with this type of potential and (Board engineered) entrenched management scenario, in our opinion.
*Kent Koski worked for Steve Aanderud as a controller at the failed and bankrupt NYSE:FPS whereupon he subsequently was CFO at the failed and bankrupt AVIA div REEBOK wherein he learned how to engineer the controversial (CalPERS-ref/shareholder unfriendly) Classified Board.
This great (as of today) Company simply and merely requires a few changes in the areas of corporate finance and a better understanding of perceived value, across all divisions (including secondaries). What is of concern is that Aanderud, as CEO, should already possess these traits, by definition...
We have warned of these smoking guns in the past and now we are all, unfortunately, witnessing their effect(s). |
