How long are we going to have to wait for a forthright accounting of what is going on here?? Don't the owners of this company have a right to know why FIBR can't get an NMS listing?? Spit it out. At one point, well over a year ago, Par stated that the NMS listing was his "highest priority." Thousands of companies have succeeded in becoming listed without incident. What the hell is going on here?
My guess is that they are very concerned by the allegations raised by Barron's. Or perhaps they're concerned that Par shot his mouth off about the listing, and constantly shoots off his mouth about what the coming quarter will bring, and it's never true. That's why if Par was smart, he and his wife would leave the company immediately, and let an experienced manager who hasn't been stigmatized take the helm.
The only thing keeping them around is ego. He supposedly volunteered to resign following the Barron's report, and the board investigated, found the allegations without merit, and told him to stay. However, the issue in my eyes isn't whether the Barron's allegations were correct or not, but rather the perception among many people that "where there's smoke, there's fire." That itself hurts valuation.
The Chadhas should leave immediately. An Osicom under new management would be able to win an NMS listing, would be able to put a lot of the false allegations behind it, and would probably win more contracts, as well. Par's shares would then be much more valuable, as would as those of every other shareholder.
Unfortunately, people in high office or management very, very rarely do what's best for the people they represent, or even for themselves. Instead, they allow their giant egos to destroy everything. |
