20 Million of Insider Selling Not Significant?
So let me get this clear CrapShooter - Barry Rubenstein, who is a director of SRCM, and should know the "value" of the technology inside out, Bright Barry is so smart he sold stock at $15-16, before MSFT/YHOO/(insert your favorite rumor here) was just about to buy the stock at $45?
Yea... He sounds brilliant. Thanks for straightening me out.
But you are right - I think he is pretty smart.
He sold his stock in a company that has three main profit centers, all of which are showing declining revenue and increased expenses. The interactive channel which has been a complete failure IMO, the phone information biz that is losing customers left and right and is IMO getting technologically leapfrogged, and the "virtual modem", that provides 3rd rate internet, (sort of?) service, but that does not yet have working saleable components and no customers...
He sold stock in a company that has over a hundred million in debt and no foreseeable revenue to be able to pay off the 100 million debt. A company that is diluting the shareholders left and right by issuing warrants and options and debt convertible to stock. Yup, he is one hell of a bright guy.
You could learn from Bright Barry.
Cheers Steve |
