I was not pleased with the conference call.
This 18-month time-frame is a joke. I guess it works like this: Phase I (finding a sales representative who knows something about the GigaMux) takes 6 months. Phase II (ordering and reading a brochure) takes another 6 months. Phase III (comparing the brochure to brochures from other companies, and placing the order) takes another 6 months. Meanwhile, CIEN, CSCO, LU will have their products in a 6-month time-frame, and Osicom will end up with nothing to show, despite having "the first DWDM to market".
The company is selling the Net+ARM that we paid to develop, but it's a good thing. Just wait for the details, and decide for yourself.
The IQX will be sold with a leasing plan. Details will probably be: "Zero down, no payments due until the next millennium! Plus, we'll throw in ten Beanie Babies with each unit!"
Par is buying an existing convertible series, because he doesn't like convertibles out there? This is from the guy who wrote all of them, and who has just written another one, to First Boston/Credit Suisse? Where is Par getting the $2 million to buy this? Why didn't he instead use the $2 million to make an interest-free loan to Osicom, instead of selling more floorless convertibles to First Boston? Par will be converting the convertibles the day he buys them, which will coincidentally probably be when FIBR drops below $2/share. |
