SRCM Management - History of Promotion & Failure
<<<You must have some financial interest or ax to grind here. Either that, or you just have far too much time on your hands. Which is it?>>>
I am short as I have already posted (puts actually).
I was originally long, but after spending a great deal of time doing DD I found too many red flags (which I have also posted) and therefore I sold my long position and went short. Heck If I could find a compelling argument to go long I would. I trade to make money thats it.
All the evidence I have found so far points to this company being a financially troubled big 'ol bag of promotion. Lots of claims but never any results.
I say - "the King has no clothes"
Rubenstein & Marocco, (both guys are directors, both managing partnerships that also sold), all combined sold over 20 million of stock on May 19-20. Wrong move for believers in SRCM's technology. Obviously they know exactly how competition such as MSFT and @Home values their patents - IMO they knew it was worthless and that's why they sold.
The loss of Century Cable in Colorado Springs - and the way the loss was presented are **disturbing**.
Century says it was a huge failure - subscribers had no interest in SRCM's service. SRCM said in their press releases it was a great success.
That tells me management of SRCM are not to be trusted. They HYPE, they promote and they distort the truth. Big red flag. This confirms reports of ex SRCM employees and managers who say SRCM management are not to be trusted.
Then I did *hours* of patent searches on patents.ibm.com
I found numerous newer patents, and reasons why IMO SRCM's patents would never be restrictive to WebTV if they wanted to go cable instead of telephone. Since SRCM's patents were filed, the technology of video/audio and multimedia transmission IMO significantly dates SRCM's patents, (and thus IMO, makes SRCM's patents fairly useless for protection of cable internet services via TV on cable, for the likes of WebTV and @Home).
Not to mention, SRCM has no working equipment that provides any service remotely competitive with WebTV and @Home. SRCM must have working equipment or there is no patent. Try showing up at court with SRCM's equipment - which nobody is using and put it side by side against @Home & WebTV.
SRCM even seems to admit their patents are not restrictive to @Home & WebTV (even over cable lines), in their 10K.
Much of SRCM's patents rely on transmission of still frame video. Bingo - WebTV and @Home can get around that in a heartbeat with digitized video/audio.
Better do your homework on this one if you think by buying this stock you are going to hit the lottery. You might end up instead with a big 'ol loss. IMO the downside to this financially troubled company is HUGE
As I have said - try Clearinghouse sweepstakes instead - the cost is 32 cents and your odds IMO are way better at winning than chances of a SRCM buyout.
Cheers Steve |
