Andy,
Generally, the only people who post here or at Yahoo are investors of NCTI, all of whom want their investment to gain in value. I've heard that it is not even possible to take a short position in a company such as this with a trading price less than $5. At least, that is what my broker says.
I also believe that the messages posted here have no consequence to the trading price, but it sure is fun to exchange opinions.
There are so many lessons to be learned here. NCT has acquired and created the most fascinating of technologies. But make no mistake, common shareholders have paid the price: $103 million in cumulative losses to date.
Other lessons are on how Mr. Parrella convinces people that their shares are not being diluted when the shares have obviously been diluted. His management style provides lessons too: how to survive for 11 years by focusing on financing activities at the expense of operational activities. It seems that any feigned operational activities are oriented solely to gain additional financing.
Once again, it was a pleasure to express my opinion in this public forum, windy or otherwise.
from the Yahoo message board...
QUESTION #7: Share buy back status.
MR. PARRELLA: We have bought back over 5 millions shares from that time to date. Cy, what is that exact number?
CY HAMMOND: 5.3 million since the early part of August.
MR. PARRELLA: So we have already bought back half of what we promised. And we are not buying it back at a high to drive the price. We're sucking up all the lows--anytime it goes too low, we buy it back. We buy it back and anti-dilute the stock. We are in that process and we are executing that plan and we have successfully bought half of what we promised so far.
GENTLEMAN #7: But if you are going to continue to add to the stock...dilution...
MR. PARRELLA: You only add when you buy value--when you buy value, you add. Like when we buy a hundred million dollars worth of company. But we're not diluting the mother company, in fact we are diluting the subsidiary company. But we're creating...value. Dilution means that you add more shares without creating value--so you decrease the value--that's what dilution means. It doesn't mean that you have more shares, it means that each share is worth less. If you create more shares, but you create more value than you create more shares then that's anti-dilutive.
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