Here's a copy of email I sent to Ira on 5/16/98.....
I'm sure you've already gotten an earful so I'll keep this brief. I just got back from the Money Show in Vegas. Sentiment: I think you've dug yourself a hole. A pretty deep one, actually. You did this by saying, in print, that you were going to do something and then not doing it. I think the EDGAR announcements were the last straw for many. It was a nice move sending Arif into the fray with his concilliatory message on the SI thread. Of course, his announcing that financials would be out on May 25th (a holiday, Memorial Day) did much to create renewed doubt. And if nothing is on the wires by the 26th... FAMH may give new meaning to the term "penny stock." As much stock as you and Arif own, I am more than a little surprised that you would be so cavalier with your press releases. It's costing you money.
Suggestion: In the future, only announce what's in the past--that way you won't get in a bind when something interferes with performance of a promise. Wait till it's DONE. Then announce it. No "next week"s. Change to "last week, FAMH financials appeared on EDGAR . . .etc."
In the mean time, you truly need a damage control release that addresses the concerns of your buying public. Specifically, each instance of nonperformance of an announced plan needs to be clarified. At this point, no half measures will do. And the release needs to be written in good English, and proofread! Until you are a reporting company, what people are buying is your face, and this consists of promises kept and impeccable press releases. I am sure you are probably overwhelmed, but the hour or two it would take to produce such a release might be two of the most profitable hours you could ever spend! <eom>
Ira and Arif need to get on the stick! And I agree about Anna--time to change PR firms again? How about the firm BCAM is using sternco.com ? |
