Loren ...
There really is a lot of miscommunication about this company. There never was a NASDAQ deal. I had checked this out early on when I read these boards ... I was told that NASDAQ was very impressed with TSIS and that they were going to introduce TSIS to their top 100 companies. Nasdaq was never going to sign, at least that was never the impression that I was given. Obviously, Intel was the first company that was introduced to TSIS through the Nasdaq (thereby, Nasdaq followed through on their promise ... not deal). And all was going well, demo lines were up and Intel was extremely pleased. However, Intel expected Nasdaq to pick up the costs in their entirety, and this was not Nasdaq's intention.
From day one, and from the annual meeting in February, Don had stated that the Nasdaq had expressed interest in Interactive Telesis and was planning on introducing them to their top 100 companies. My understanding was that it would be done, one at a time. Had things worked out well with Intel, it would have been easier getting the next one. But this could just be a temporary delay. Intel was impressed and may still sign. But right now it is a stalemate between the Nasdaq and Intel. Our company is caught in the cross fires.
What is sad is that if people are selling because we did not sign "nasdaq" ... that was a false rumor from day one. I had spoken with the company and tried to clear this up several times because I hate to see a runup on false rumors. I have to believe that most people understood the situation since everyone that called and inquired was given the same information as was I. Also, and John Baker can confirm this, Don was very clear at the annual meeting as to the intentions of Nasdaq. Never, and I mean never, was there any mention of Nasdaq signing with TSIS. Now, that surely would be something!! But it was never even a consideration.
The only thing we lost ... and it doesn't mean it can't turn around ... is the "immediate" expectation of Intel coming on board. But there are plenty of other things happening, and I know Don has been traveling and meeting with potential new clients. And Don is a very compelling presence so I would assume that those meetings went well.
I am very saddened by the loss in the share price today since I am so heavily invested. But all I can do is buy more. There is no fundamental reason for this stock to have dropped as much as it did. Everything is still on target and Intel is the only thing that has changed. But quite truthfully, the Intel news is old news since Don put that out on the update on 8/12, over a week ago. Also, he does not mention Intel by name but since everyone else assumes that is the company he talks about with the "bad news", I have to assume the same. So, I find it difficult to blame this stock drop on Intel or Nasdaq. If the stock were going to drop because of that, it would have done so last week. Also, we "oldtimers" are now trained in that we don't take anything on face value. When they are signed, they are signed. We have been there before and disappointed and should have learned.
I really think the drop deals more with market jitters and Knight Securities taking advantage of the situation. Add to that lack of news, impatience, etc. and we were prime for a panic sell. Didn't take much.
So ... are we now ready for the rally? |
