Earnings are out.
They continue to go out of their way to make the company appear to be unattractive. Perhaps it's residual
paranoia from having been run by attorneys. There are two reasonable explanations: (1) Galton has
decided to sit back and "burn", collecting a salary for years, or (2) they continue to allow for the accumulation of shares at discount.
The 2.5 million goes in the bank, and, due to the fact that it's already been reported as income, CIST doesn't need to mention it. It looks, to me, as though Galton has gone out of his
way to make the company appear worthless. I was looking forward to seeing the loss countered by a big boost to the balance sheet. The question now is, are these guys cowards or simply manipulators? I assume that they're simply manipulators, that they're still flushing out shares, but......... WHY?
Notice that two million shares of potential dilution are gone. I read this as meaning that options have
expired worthless?? Other explanations?? I'll call Hal Smith.
I should emphasize that I'm referring to LEGAL manipulation through the factual dissemination of boring news. No balance sheet, and intentional presentation of an accurate number of shares outstanding at 12/31 without mention of the buyback.
Galton...... I don't mind you screwing me, and you're not going to shake out my shares. However, there's no doubt that you've hurt your share of "widows and orphans" along this path. Try to apply the same competence to your science that you apply to your manipulation. |
