Charles is correct on all points. Bill Carraway was at first hesitant about the efficacy of setting up a Website. I spent several months making the suggestion to both he and MicroCap Consulting. I also advised them as to what manner of info online investors would be interested in.
Due to cost and the previous cash crunch being suffered by the company, they didn't follow all of my recommendations, such as placing all company documents into Adobe Acrobat *.PDF format for download. The website designer also used an atrocious purple/lavender background at first, until comments from myself and other individuals enacted a change. It still isn't what I would like to see in a website, but it gets the info and the message across.
Be advised that the website discusses certain issues that are unconfirmed by the company such as a private placement. I understand that this comment has been "Overcome by Events" and should be disregarded for now. I take it that the OBE comment means that they have raised enough capital from sale of the limited partnership to fulfill short-term cash flow requirements. One way or another it doesn't matter as management will be very attentive to shareholder value as insiders own the largest block of stock.
I actually hope to be able to get into the Internet promotional business and help firms like GRNO create and maintain a website as a location that can be used as a source of up to date information.
As for comments on whether or not to wait to buy, I would watch the market very closely. I believe that there was some illegal short selling by the market makers and the end of day active period of trading (30,000+ shares in the final 20 minutes) may mean that the bears may be giving up, (for now) Remember that the stream of news will likely begin to increase as the company progresses with reassembly of its unit. Spencer has mentioned that many Charleston, SC investors in the company bailed out this summer thinking the company was defunct. When they start seeing construction beginning again, they will likely begin putting more buying pressure on the stock since they KNOW what the company was capable of from past demonstrations of the technology. (1994)
Personally, I don't know. All that I know is that if this company has been entirely truthful with me, and not hidden any negatie aspects of the technology, then this stock still has major upside based on its "Story Stock" status. (Kind of like Iomega which traded far higher than its actual worth.) And I wouldn't douby, there being only 5 million shares outstanding) that we could see a stock split in 1-2 years as well. That is just my opinion though.
Regards,
Ron |
