I don't regret holding ISDN -- just wish I would have held off buying until after the OEN site launched so I could have made my first buys at a cheaper price. Got in at $1.09 initially.
The dramatic downturn is due to the site, which is lame. That can be fixed. My personal hope is that ISDN discontinues its relationship with Ad-vantagenet, which built the site, in order to partner with a Web development firm that has real creative talent, the requisite technical expertise, and serious prior experience in the entertainment industry. Compare the OEN with the major entertainment sites and you'll see what I mean. Mr. Roth should go to a major Web development firm with 500,000 shares in hand and say, "Let's do this together."
The site can be fixed. It's frustrating today, but can be brought up to speed.
There are two encouraging factors that, in my mind, are far more important to the long-term viability of the company. First, the technology delivers: their streaming audio is excellent. Second, GlobalNet has shown that it has the ability to establish valuable partnerships with important players in the entertainment field. I think the news earlier this week is terrific because it shows that ISDN has enough "connections" to secure major, marketable content. This is hardly trivial because there is intense competition for entertainment content right now. Add to this the deals with Warner Music, Atlantic Records, etc., and I find ISDN's ability to position itself to be quite encouraging.
In my opinion, ISDN's share price does not yet reflect either the technology or the entertainment partnerships. The technology hasn't yet been promoted in its own right, so it's not surprising that this isn't factored in. I suspect the market will hold judgment on the partnerships until the site is up to speed: i.e., until it appears that ISDN will be able to deliver value to its partners and, thus, hold those partners for the long haul.
Yes, I'm reaching hard for good news here; but I've also continued to accumulate at these prices. Still trying to keep a long time horizon on this one. |
