Howdy folks,
Been out for a while, but keep up with the board anyway. I see we have some new friends here, and not too savvy I might add. The term "development stage" is not a SEC term, nor was it ever. Its actually a term used by accountants to describe a company that is in the process of creating its product, that has no sales, and that probably doesn't have a sales and marketing function. The term actually relates to a set of presentations in the financial statements (definitely an accounting term). See it how you'd like, but Turbodyne is not a development stage company. The light metals division has significant sales (one could definitely argue about the Turbopac), the products are developed and the company has a sales and marketing function. A couple of other points:
1) I can't remember who made the silly point about KLA-Tencor having only twice the stock as Turbodyne, but that is the most ridiculous point I have seen yet. I'm sure that neither KLA or Tencor went through a heavy reverse split prior to doing an offering. Oh wait, both did. Most companies do prior to becoming public. There are many examples of companies out there that have more stock outstanding that TRBD (and have a smaller market cap). I agree that there has been significant dilution. It just depends on what kind.... option dilution is the worst (yet best if you want to talk about retention/hiring), as the company often is the recipient of any meaningful consideration for these shares, unless the company has been around for a long time. This is followed by warrants. If you want to talk about this aspect with respect to TRBD (am I'm surprised no one has in this short-long thrash-a-thon) then you may have a valid point. In addition, prior to going public, how many rounds of VC financing did the companies mentioned undergo? Many. I think that the point was more related to timing of cash inflows (public vs. private) than anything else.
2. On the Reg S issue with the discounting...that was a popular practice a couple of years ago, but the SEC figured out what people were doing and have put rules into place that prevent the vast majority of this from happening.
3. Great action the last three days. I haven't been playing actually. I've been building my new house thanks in part to this little gem over the past year. Thanks again, TRBD. I'll admit that timing is everything and I seem to have pulled the triggers well.
I'm going to continue following and commenting as soon as I hear significant news (good or bad), but I think that I'm going to skip a couple of posters on this thread to keep from reading silly remarks. Best of luck to all the death valley longs, its been a long, bumpy trail; may you ride again...........
Scott. |
