I presume I am one of the PHANTOM posters you are directing your request. (For the record, I paid my money for SI just like you did)
However, at the risk of being flamed (and for your info, I placed a fairly large buy order today) here are my observations.
I, too, like the attitude of the new guys. However, I look more to results, not hype. These guys will have a lot to overcome from previous company hype, and current operations.
My observations from the phone call and why I think the stock dropped and had tremendous volume.
a) the company only has approximately 1100 units in place world wide
b) the Sega deal wasn't with Sega Japan - it was Sega Las Vegas, which is only partially (I am told 13%) owner of Sega Las Vegas. I must admit that I have known about the Sega deal since 1996, and this got by me as well!
BTW - don't take these as "bashing", but only to justify my "Show Me" attitude:
1) 5/14/96 MaxLite is ready for market (Which means that 22 months have been available to market the product)
2) 5/29/96 Letter of Intent signed with Sega Gaming (which was stated to be a SUBSIDIARY of Sega Japan). Now, almost 2 years later they have a Letter of Understanding. And what's the difference between LOU and LOI - how about an agreement?
3) 6/10/96 3,000 units committed and ordered of MaxLite. Company predicts 8,000 -10,000 units in place by 12/96
4) 9/26/96 Company estimates itself being profitable 4th qtr 96
5) 10/15/96 800 Units now in place and operation
6) 5/6/97 1,795 contracted units with 1225 in place and operational
7) 6/11/97 2,165 units installed and/or backlogged |
