I was hoping to use my last post for the day on something more consequential. However, now that you ask...The thing that has bothered me more than anything else throughout this ordeal is why Charlie would run off if all he had to do was wait. The only logical conclusion is that there was no working technology that SEXI could call their own.
I had the S-8's long before the people on this string and conducted my own investigation into the personalities on those filings.After coming to the same conclusion that you now have, as confirmed by the SEC, I decided to focus, as you should, on the company's alleged proprietary technology.
I saw the technology at the Boston show, talked to Huttoe eyeball to eyeball (while his broker was busy selling his shares) and Charlie lied through his teeth to me. It has cost me a lot of money.
If you now focus your attention on the stories of gargantuan sales and who they are reputedly selling to, you will start to come to the same conclusions.
1. This technology is currently being sold by a fair number
of companies already, some of them, like Datapoint, for
ten years now. Datapoint already has units on battleships
in government, and the private sector. These applications
are nothing new. The industry is much larger than you
might think.
2. The competition is not in awe of SEXI's product. The only thing they're envious of is the masterful
promotional job done by Mr. Huttoe. In fact, it seems
to most that SEXI was selling one product and
demonstrating another. Even the people at the shows seemed to be unable to answer any in depth technical
questions to any industry insider's satisfaction.
3. For most of us, the real question is whether of not this
company can survive and sell in the sea of competing
products out there. If you're not taking the time to size up the competition is not doing their due dilligence
but rather making a bet in the penny stock market.
4. If this company has made sales, why are they not saying
anything? And why do all the other stories of reputed
sales not check out? In fact, call the other vendors and find out who really has gotten business from the Florida corrections industry. I have, and I have posted this information. How many of you guys have bothered to talk to the competition...or just believe Charlie when he says they're just jealous.
4.Prudent investing demands that you look at a variety of factors and not get married to any stock. Even good companies have trouble...If you invested in IBM in 1987 you're still not even.
5. A company who is in big legal trouble will have difficulty selling their product. The customer wants
some reasonable asurance that the company will be around to solve problems down the road for them. Put yourself in the shoes of a potential buyer and ask yourself if you really want to invest your money in a product from a company with sucha checkered past, and doubtful future. Look at who is reputed to be running the company now. While many of you might think that Ollie North and the boys are heroes, the fact remains that it appears that the new present (Mr. Clines) is a convicted felon and has served jail time. If there is any evidence to the contrary, I would like to hear from anyone who can tell me differently. 6.There appear to be very serious questions as to who owns the technology that SEXI is selling currently. This may explain why we keep hearing about NEW technology.
There are lawsuits pending to settle these matters.
There are many other reasons why I am choosing to take my losses and move on to something else. Why bother with the aggravation. This is not a game for me. I don't know where you all get the kind of money to take the kind of positions that I've heard on these strings
but, it seems as though many of us had considerably more invsted in this venture than was prudent. But it was a great story. I've been in the business (broker) for 13 years now and I am not too happy with myself and my decision to stick around in this stock as long as I did. It's embarrassing. I should know better. It was a masterful job...as good as I've seen. But let's get very real now.
I do not own any stock now and will steer clear for now. Who knows? I may come back in at some point in the future, but I'd rather buy this thing back a $2 if I have confidence that it's on its way back up for legitimate reasons. Many of you appear to be quite young and are probably in a position to sustain these kind of losses, but I have adifficult time understanding why, with all the uncertainty, there appear to be so many bullish people out there. I suspect that you havn't done the additional homework.
I wish all of you who are still in the stock the best of luck. I hope all of you who are buying the stock understand the risks going forward. Hey, it's your money...far be it from me to tell you what to do with your money. If you'd like to talk to me about what you're doing with your serious money,call me.
As long as you are making what you think is an informed decision at this point, that's all that's important. And then you live with your decisions, good, bad, or indifferent. I have only two rules about investing. You need to be able to explain to an average 12 year old what you own and why. And you have to be able to sleep well at night. If you can do both of these things, you're in the right stuff.
It's only money...even pigs won't eat it.
But remember...in good markets or bad...the bulls make a little...the bears make a little...and the hogs get slaughtered.
JILTED and hopefully better off for the experience.
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