Now the audited report is out, I would like share my opinion.
1. Going concern issue
Man, I should have kept my mouth shut. As I posted before, I was a little bit concerned. Now it is a reality, which is bad news. The
good news is the management is aware of that and very proactive.
They converted illiquid assets to liquid assets even at a loss and private palcement in the process. In short, they have enough liquid assets(stocks, notes) to keep their door open untill 1999 even without private placement in my opinion. So no need to panic at least for one year. I hope they seal the deal(private placement) soon so we don't even talk about this issue any more.
2. Management
In my view(I am a ceo), this management chose very proper course of action and I like the direction they are heading. They made a few
alliances with other companies sharing the future profits, that is
easy to say hard to do. They simply do not have resources to take
care of all these things themselves and some is better than none.
I am scertain that the management knows they don't have much time
(three years or more) and the steady revenue must be generated before the end of 1999. I think they will get it done.
3. Stock movement
Down the road, the VIPs(impatient, not important) will run, MMs coming in and stock may tumble. It may happen or may not and I do not know when. But I think it will and frankly I am waiting for that. I am not following daily movement driven by news release so on. I am waiting for the day GLCP goes into mass production with
contract in force.
I have some other specific things to share, i.e. strategic alliances,
but I have to leave now. I will be out of town next week, so maybe following week.
Happy trading
p.s. Do we have MMs or their front posting here? I saw some posting
bashing the stock without any rationale. I sure hope not. |
