I have mixed feelings at this point on the PRWT story (hey, don't we all). On the one hand, we have a CEO who thought it was ok to convey to Mr. Reasons that he only needed to get the "i's dotted and the t's crossed" before news would be released. Excuse me, but that is a big fat lie. It's Tuesday 2:00 pm and there has been no news. Needing only the i's dotted and the t's crossed means you are really, really close. So, we're not close, and in my opinion it shouldn't have been inferred to Reasons that we were close. John, I love you baby, but you're killing me.
Now the good news. This rumor about John Schmidt being the same John Schmidt who works at Executive Mortgage is absolutely, positively awesome. At this stage, I doubt that Executive Mortgage is the pure owner of PRWT because I think that would have been said by now. I may be wrong, but I don't think Executive Mortgage is now public and that we are in possession of Executive Mortgage stock. Hey, I hope I'm wrong, but that would really be too good to be true. My guess is that John is trying some separate venture on his own, but that is just a blind guess. Regardless, this man has experience! His skills at getting out a timely press release may be for shame, but by golly, he must really know his mortgage stuff! Talk about being in experienced hands. I look forward to hearing the details on the relationship between Executive Mortgage and PRWT.
Well, that's it for now. As usual, I have hardly anything useful to say, however, posting here is probably good for me psychologically to help overcome the massive disappointment in watching this stock drop 26% one day, then 22% another. A PRWT drop today would be the fourth straight minus-day for PRWT. How depressing.
Chris |
