"This is a STARTUP BB STOCK!"
As I said in previous messages, I fully understand what a STARTUP company entails. I actually am in a startup right now. You have also brought up the fact that Innovacom is a "development stage" company in previous posts. Let's compare some notes on what those things mean.
First, Startup does not equal Development Stage. The two are not equal. To me, Development Stage means you are focused, working on a good product and before you release that great product, you lose money. Startup means (IMHO) just what it sounds like. A company that has just incorporated for a particular reason.
When I first invested in Innovacom, it was a startup development stage company. It had one product, the DVImpact chip, that it was working on. Other products were stepping stones, perhaps infrastructure.
Then came the acquisitions and loss of focus. I blame those events squarely on Koz because he let the company lose focus. They started talking about all sorts of things including DVD authoring, satellite antennas, movie productions, networking, etc, etc.
At this point, Innovacom dramatically departed from the Iomega model. Iomega had a hot product idea, and they FOCUSED. They committed resources, rallied behind a single product, and did it well. Only then did they diversify into Jaz and now Buz. They are a big company now. But Innovacom began acquisitions before they made a dime and well before they had the first product. Quite insane acquisitions which reflected two things: (1) lack of focus, and (2) they were NOT a development stage company but trying to be an asset management company.
I think your major problem, Alex, is that you use your classification of Innovacom, "STARTUP BB STOCK", as a reason to constantly disregard facts. Startups should be judged leniently. They should not be removed from all judgment.
Well-run startups don't lose focus and commit the little resources they have over about 5 completely different product areas.
Well-run startups don't issue press releases that are clearly wrong or hype. For example, if you are making an MPEG-2 encoder, you had better know where your competition is and if they are actually "years" behind you or not.
Well-run startups don't issue press releases exclaiming $40 million in revenue from a recent movie production acquisition. Even idiots like me realize that such claims are completely ludicrous, especially in the movie industry. How on earth could you tell if (1) your movie(s) finish on time, (2) on budget, (3) and are successful? Answer: you can't.
If your only response to the foul-ups Innovacom has accomplished is to exclaim "but they're a STARTUP!", well I think you really aren't doing your homework.
-Bill (Mr. Evil Anti-Innovacom who doesn't own MPEG stock)
p.s. $428,000 on Iomega? I guess I should say I made $3,423,817.94 on Microsoft. Both our claims are unverifiable. |
