Here is 1 of my reponses to Craig's deceptive, slimey posts on the 3-Com board...
Sorry to post on your board guys but I want to clear up how Craig is misleading you on
Osicom.
>>Osicom (FIBR) has done multiple private placements (at least 5--Series A,B,C,D,E
convertible preffered) to raise cash because their business is not viable.<<
Craig- how did you think they were going to pay for the spate of aquisitions that they did
last year that took their revenues run rate from about $25 million to the now approximately
$150 million. With their shares being too cheap to do a secondary, they chose to issue
preferreds which would not be as dilutive if the shares rise subsequent to the issuance at the
time of conversion.
>>B) Barron's wrote a scathing piece about FIBR and the stock dropped more than 50%
because of it. Whether or not the things that were said were true or not you should at least
get their perspective before investing.<<
Yeah, interesting article... about 80% of the article was about another company not even
related to Osicom. Interesting as well was the fact that the author of the story was formerly
employed by a fund engaged in short selling. Osicom also flew in every division head to
New York with the idea that Barrons was going to write a fair and objective story about it's
technology... but they didn't. Not one mention of their products and potential. Now, since
Osicom has sued Barrons, Dow Jones, the parent of Barrons, has begun to write postive
commentaries about Osicom and is just now realizing their technology (3 articles since the
beginning of the year) I wonder if Dow Jones is feeling a little guilty?. There were some
blatant inaccuracies in that story that any 6th grader with a calculator could figure out
relating to their balance sheet. Just as well, the networking trade press has certainly realized
their technology and htere have been literally hundreds of articles written about them in
such rags as EE Times, Network World, Communications Week, PC Week, Forrester
Research, etc. See Techweb.com or ZDNET.com for starters.
>>C) Some London weekly publication wrote negative things about FIBR and FIBR sued
them too (just like they sued Barron's)>>
Yes, why did you omit the fact that they subsequently retracted the story and made a formal
apology to the shareholders after the London Times found out the story was false... (likely
a well paid short plant).
>>D) FIBR had to pay over $1 million dollars out (of course they used stock to do it) to
settle a class action lawsuit for a company they acquired.<<
This was to settle to settle a claim made against a company which Osicom had aquired. The
claim stemmed to a time prior to Osicom purchasing it. They felt that the legal fees to
straighten the situation out could likely be as costly and was a constant source of distraction
so they just settled it.
>>E) There was a piece on 20/20 or some show like that about the Mafia manipulating
stock prices--- FIBR was one of the stocks mentioned on the show.<<
Craig, you are so full of s*&%!! I have a copy of the 20/20 show you are referring to .. it
was about mob influence on NASDAQ stocks and NOWHERE IN THAT SHOW DID IT
EVER MENTION OSICOM!!!
>>F) FIBR management contacted SI and threatened legal action if SI didn't stop me from
posting negative things on the FIBR thread. I couldn't post for a couple of weeks because
of that. That was the best thing that could happen because it told me I should short
boatloads<<
Yeah Craig, that is because you were making blatantly innacurate statements that could
possibly damage shareholders. They, and I as well, have no problem with shorts who make
fair statements to point out things, but when you blatantly fabricate lies to benefit your own
self interests and damage the reputation of a company as well as it's shareholders, then
that's when they step in. I applaud them for that.
>>G) Insiders have been selling or filing to sell 10's of thousands of shares as recently as
just a couple of months ago at prices in the 2's<<
Craig, if you had done any research at all on this company, you would know that it is 1
shareholder that is doing the selling through his holding companies set up for tax and trust
reasons. The selling has been done to cover margin calls and pay taxes, as he doesn't
receive a salary because he is paid in stock. Also his sells have made op a very minute
fraction of his 2+ million holdings.
>>MARK MY WORDS<<
I think you'll be saying "EAT MY WORDS" by the end of this year.
Craig, as you have admittedly said in the past, you havent' done much research on Osicom
which explains your ignorance. I have spent literally hundreds of hours researching the
company, visiting their facilities, talking with their customers and have since taken a long
position. The stock has fell back today which is expected for something that has risen 172%
as of yesterday's close and is the 3rd best performing stock of the year so far, but I bet it
doesn't stay down for long!! |
