You guys are nuts.
I never hyped this stock to say it would go to $2.00. I was as positive as I could be, hoping for a rise to a buck where most of us would have bailed, now admit it to yourself, this is true. I saw things and heard things I didn't like but I didn't share them with you. Sure it sounds like I sold, I did sell some, not much but now my conscious is getting the best of me. I have been burned on these before and while it seems like this one is going to take off, there are many signs to watch out for.
These are young guys running this tournament, they have experience, but no management sense, no sense for PR coverage, no sense for releases, and no sense for shareholders. They told me that they won't make releases anymore at least not until closer to the tournament that any information will be put on the website. This is not good to tell anyone.
As for financials, they said they will stay within the maximum guidelines, whatever that means, I think it means they won't put them out anytime soon. And we need to be reporting to stay around.
None of us were sure that they would pull off this tournament and they did so at the last minute and guess what someone bought 100,000 at the last moment. I heard that the officers have 100's of thousands of tradeable shares. You can bet they are daytrading and timing the releases to their benefit. I would do the same. Don't you think it was kind of late to release something at the end of week near the tournament date?
And as for the next tournament, we are led to believe it is June, Damian said September. This is a long wait for me. What will happen in between. I think it will be day trader's game until some meaningful releases come out. This tournament they had Marr's Tribute to help them. When I called the course, they always said it was Nicklaus' event and that the Marr Tribute was a tack on. It didn't matter to them if the tournament came off or not. The great number of people at the tournament can be attributed to respond to the opening of the course and interested in buying property around the course, not to the tournament. The tournament was not advertised in anywhere I know of, not local newspapers, not local radio either, no golf web site (except their own), so it wasn't a big deal.
Speaking of tournaments, there are other tournament companies out there, not just public. This is a good concept; it's just that I think it should be run by more than 2 main owners and some relatives. This reaks of penny management.
On the positive side, I hope this company makes it. It just greatly concerns me about the management. For example, if David Marr is the President why can't anyone talk to him, only Damian, the CEO. Anyway, this is my outlook.
I will continue to post as positively as I can but I want to point out the negatives of owning this high-risk penny. I still own it, guys. I am just being helpful.
Thanks Mr. Lee for your support. |
