Doug,
Excellent, excellent synopsis. I can appreciate how much work it must have taken you to put together your research report. I've also been investigating this company over the past 2 months based on TEXN's incredible sounding news release in March. Wish you would have waited a couple weeks to post your report, but them's the breaks I guess. I didn't figure the company would remain undiscovered forever.
It has taken me a while to believe that the night sight product and company is for real, but I feel pretty comfortable now that they really do produce a good product. Probably would have been easier for me to simply have purchased a night sight for myself. The major reason I haven't "sold the farm", and this is a biggie, is that I can't verify the shares outstanding. I get stopped by the secretary every time I call the company direct, and Mike King of TEXN investor relations would not give me the number of the transfer agent when I called and e-mailed him. Gave me "what he heard" as to shares outstanding in December. Kind of made me suspicious.
But if they are making only 7,000 night sights per month as you say, even though they apparently have a backlog of at least 166,000 per March press release, they probably aren't diluting. Just wish I know for sure. Because that is the one thing I see that could really kill us. |
