Let's look at this 8-K filing in a positive way. The company has now another million in the bank to pay the salary of 250-450 engineers for another 2 weeks to one month assuming those engineers are paid with a meager salary of 40K per year (250*40,000/12=833,333). So the company will survive another month while management can work their butt off to seal those huge virtual (see definition below) Intel and FAA contracts. I am sure when those virtual contracts are sealed, the engineers will be rewarded handsomely with 100K+/year salary, 1 month yearly vacation, monthly due paid by company for spa, health club, stock option, etc.
The part that gives me the most hope is that there still exists smart people in this country despite thousand of suckers born every minute. Let's see, those Renaissance guys got 390,000 common warrants at $2.00 and 99,000 warrants at $1.5, so in total they invested ((390,000*2) + (99,000*1.5))=$928,500. Now that they exercised the warrants and converted them to 489,999 shares of common stock, assuming they have sold at 6 5/8, they are now reaping 3,246,243 bucks, or a whooping 350% gain.
That's what I call a brain. The whole establishment of this country industry relies on those brains who can create wealth and virtual companies such as TOPRO. The majority of the working class is simply a bunch of tiny embedded systems clocking their way to make the big factory running. Tom Peters in his "Managing in chaos" book promoted the idea of companies which can sell concept, not necessarily real products, because the value of the concept far exceeds the value of the products itself. For instance, there are companies such as Hotmail which provide free e-mail service. The business is still a concept because the company hasn't made any money yet, but Microsoft just bought Hotmail for 400M on the premise that this company will have huge revenue from advertisement. TOPRO also sells a concept called the Y2KOne CD. This CD is promised to help in the assessment of every existing Y2K compliance problem in embedded systems ranging from factory to air traffic controller to microprocessor chips. If Hotmail can be bought for 400M, TOPRO with its Y2KOne CD should be worth at least 1B.
One nice thing about conceptual companies such as TOPRO is that they don't pollute because there is no manufactured product.
P.S. After I sell my 1900 shares at 100/share for a total of 190,000 bucks, I will offer everyone on this thread a virtual beer or drink of your choice. |
