Wonder if the lawyers will be loading up. There's a lot that doesn't add up here.
First of all, the SB10 is a voluntary filing for DGIV, since they are non-reporting. So even if the law firm thought it was incomplete, they could still have filed it while collecting whatever else was needed. I think the SEC has 60 days to respond with questions anyway, so by filing even an incomplete form, they would have met the deadline, we could have read what there was there, and the lawyers could have been working on whatever else they needed. So why wasn't it filed?
Second, PR releases have to be truthful, but they are Public Relations, not fine print documents. The last two PR releases, from lawyers, is the equivalent of a drug company putting out info from the Physician's Desk Reference about how that medicine might kill you as well as heal you. The Egyptian clarification was not needed, IMO, since it was clearly stated in the PR that it was a MOU, not a contract yet. The SB10 delay PR did not need to state that Digitcom makes no assurance that it will meet the NASDAQ requirements. That is painfully obvious, since a $4 price is needed, along with other things. The SB10 is a first step. Usually a PR release begins with "Company XYZ, the leading blah blah blah...." and ends with a safe harbor statement. Digitcom's PR's had been pretty subdued, and presented facts instead of wild projections, so if anything they could have been more forward looking than they were. So why would the lawyers tell DGIV to put out that kind of "PR" at a time when investors were only looking for a filing.
Third, why would the lawyers not have told Digitcom six months ago what else was needed for the SB10, when they did not come out with it then? Why wait until two days before the new attempt at filing and then find out?
Fourth, why would a MM have been shorting DGIV last week, when we were all expecting this SB10? Did that MM know that the SB10 would not be out?
I could go on, but these are just some unanswered questions. The shame of it is that Digitcom is the same today as it was last week, as far as their technology and their contracts. But the public thinks this company is worth half this week of what it was worth last week, and all because of something that could have been so easily avoided.
Oh, one last thing. I am sick and tired of these stocks going down and then having investors trying to point fingers at each other. I always thought the idea here was to follow a stock, make individual investment decisions, and make money. So if someone made money on Digitcom, look in the mirror and congratulate yourself. If someone (most of us) have lost money on Digitcom, look in the mirror and give yourself condolences. In other words, Grow up! |
