Hi Jeremy! You sound frustrated. You probably have a right to be. The stock is way down from where you got in. I've been there and I know the feeling.
However, I will offer you these "rays of hope" that your investment might very well payoff nicely... late... but nicely.
RAYS of HOPE that "GLOW!"
1) Regarding the web site being obsolete...
The New Management at GLOW is "negotiating" with the people that control that web site. When that is resolved, the web site will be updated.
2) The Old Management "experienced some problems" in 1997, that's why there is New Management.
3) From my conversations with the company, it sounds like they are VERY pleased with the ECS business (credit card processing,etc), the Internet Gaming (this is ONLY done OUTSIDE the US. They DO NOT do any Internet Gaming IN the US), and the Management Services. These businesses ALL have very high profit margins (some as high as 70%).
4) I don't get the impression they are all that interested in the Dating Company. That topic sure didn't generate any excitement at their end anyway. Personally, I think they could do better staying away from it.
5) When the New Management first took over GLOW, they didn't know if they could "save" it. Now, however, they have become quite upbeat about their progress. To me, that difference is important.
6) This press release was obviously "an invitation" to watch for what they are going to report to us over the coming weeks. I suspect that if ALL they had was "bad news," they wouldn't be drawing our attention to it.
7) The press release also said...
a. "We believe we have been undervalued for quite a period of time."
b. "...become a reporting company during the second quarter."
c. "...plans...will significantly enhance shareholder value."
d. "We...will make additional announcements in the very near future."
To me, those things say, "WE'D LIKE TO HAVE YOUR ATTENTION!!"
8) In an industry with recurring electronic revenues, they don't need very many employees. That's one reason the profit margins can be so high.
You are absolutely right that they need to "SHOW THE NUMBERS!" And when they do, this stock will likely be a LOT higher priced than what it is today. In the mean time, the New Management has to begin building credibility among investors.
A good way to do that is to say they are going to do something and then follow through. I think that is what the press release was about. In essence, they are saying, "We are going to begin providing more information about this company. Please watch!"
At these low prices, I for one, am willing to take a risk (based on my own research) that they just might be right!
Time will tell.
Best wishes,
Brad |
