Sean, I bought ELAMF at about $ 11 per share. I sold it at $ 9.875 when it came out with a disappointing earnings report. As I always said, investing in RACE was fine, if you had a stop in case you were wrong. ELAMF did not work out. I was wrong.
Regarding Optimism, I disagree about not being able to see that revenues were going to fall. It was black and white. The company said, "custom modem sales are falling", and then "custom modem sales are done". Since they comprised the majority of the reveneus, it was VERY obvious. When I pointed this out to Marshall, he could say anything but admit the facts. All that Marshall said was subjective.
Marshall says that he does not really analyze the company but gives links to tech issues, etc. Must I now give the links where he implied that RACE and Intel might team up? Sure they MIGHT ! But that was a big might, just like the custom modem sales were, etc.
And to blame RACE's fall on the 900,000 shares is insane. This stock was $ 20.00 and Marshall pushed this company all the way down to $ 2.50 where it is today.
The Be There sales not materializing was also VERY predictable. How? By the fact that by last Aug 1997, the sales were already behind schedule. When a company can't keep schedules, you should be leary. That was big reason to doubt.
Now Marshall can allude to things that might come in the future in order to keep eveyone hoping, but at this time, it is just hope. Nada. Nothing else. There is no objective reason to like this company. Sales have not materialized (only $ 141,000 !) as expected. Until one sees the numbers, fundamentally, this company is worth very little.
I admitted my mistake with ELAMF and got out when the news didn't materialize. How much better would you have been off if you had done the same?
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