Bob: Yes, I can respond on a limited basis. Our disclosure responsibilities are centered around events which could have a "material" affect (to state the SEC rules explicitly) on the company or its shareholders.
Company's receive initial inquiries regarding potential events regularly. However, until one of these events has more than a 0% chance of having a "material" affect on the company, there is nothing to disclose.
Indeed, most companies received numerous unsolicited inquiries regarding strategic joint ventures (from questions about our interest in selling the company to co-marketing products.)
Once any one of these inquiries move from an unsolicited inquiry to an event which could be REAL, rest assured that we will fully disclose such events.
I find myself "busting at the gut" to tell everyone about ALL of the events which are occurring behind the scenes, but we will hold all such news until the event(s) become realistic or completed transactions.
If we put out a press release on every "potential" event which has been offered, proposed, or even remotely discussed, our press release schedule would be filled 50% with events which we rejected - and this would make us look bad.
It is my responsibility to "filter" these, sometimes off-the-wall ideas, and present to the public events which could have a material affect on the shareholders.
Its always frustrating to see a stock trade at its 2 year low, especially when there is no real cause for the down motion (I mean no negative news.)
As you know, we refrain from putting out PR "hype" and are focusing on the fundamentals of the company. We will announce those pertinent events as they become REALISTIC opportunities with a fighting chance to survive.
Its akin to someone offering you $5,000 for a new $50,000 Cadillac Seville - you don't even take it serious.
June 30, 1998, quarter ending numbers will be available shortly (1 day to 2 weeks!) and will provide further insight into our progress.
I appreciate your candor and honesty.
most sincere regards, Benjamin |
