For us, the shareholders and owners of this company, this has become a losing deal. All the while, we were excited, buying stock, telling our associates and loved ones about the stock. We were sure that we would make an exceptional return on our investment, and we had good reasons to have that belief. I was buying stock at 2 dollars per share and some at 2 1/4 per share. I think that when the LPS deal was announced, I paid 2 1/2 for some of this stock. H.K. Elrod put out a press release saying that the LPS deal was a done deal, not once, but three different times , in glowing terms, at the shareholders meeting (I was there), and in two press releases. One press release was before the meeting and one was after the meeting. This was going to take us "over the top", I believe he said at the shareholders meeting. "LPS will give us the revenues and balance sheet we need to become a fully reporting NASDAQ company", he said.
I will tell you a sad story: I went home and I bought some more stock. Yes I bought more, because I believed in Mike Millis and Hamblin Elrod. I met them, I shook hands with both of them. I had a good feeling about both of them (open bar?). But there were no financials at all. I asked them, "Where are the financials?" "Oh, they are being worked on right now." "And should be out in the next few weeks." Anyway, we all know the rest of the story.
I have no important news from the "field." The boys are somewhere in Arizona looking for a lake. Shouldn't be too hard to find. |
