Here is a good post from our friend, PCModem, on the Raging Bull
Thread.
"Why a Web Update instead of a press release, IMHO:
John got ahead of himself on a couple of early press releases, so he is much more cautious than he might have been (If he was just hyping things, making a mistake or two would not be stopping him).
John gets several phone calls every day from investors asking about the next press release. This has made him even MORE cautious about putting one out. Some have been very demanding, and that's the wrong tactic to use with him.
Putting together several subsidiaries into one company is not very hard really. What IS hard, VERY hard, is getting the financials done correctly. Until they are done, no one, even John has an EXACT picture of where the company stands. I've worked with accountants and I can verify that what they are doing is mind boggling when you just have one company being acquired by another. They are doing it with several.
Press Release by Website update is a perfectly acceptable way to UPDATE prior PRESS RELEASES and call them PRESS RELEASE UPDATES. Plus, putting the info on your own site means you have greater control over it--you know exactly what it is going to say and how it will look, etc.
Many will try to BASH this update by saying that because it is not on business wire or one of the other services, it is not a press release. My response to that is: Bovine Feces. It is a press release because the company says it is, and because it is posted to the public, not because of the channel the company uses to publish it.
This way John gets to communicate with us, we get the info we expect, John feels safe about publishing it, and he retains control of the info. Very prudent in my book.
The above is IMHO, and represents the results of my brain working the matter over, your results may differ.
GO PRWT!!!" |
