You pumpers have done it...I'm going to buy more. But, close observers have also commented that I've lost my marbles. Fact of the matter is, Freddie is right; Arif Adam is now in the Investor's Picture Dictionary next to several words--fraud, greedy scumbag, and antonym for business leader.
I called Adam in March, I think it was, the day of the cc where he dropped the bombshell that the OS was 70m, and he denied that anyone had ever told us it was lower, esp. 20m, which Ira, in fact, had been telling us. In other words, I can personally confirm that Adam is a liar who misleads his shareholders. He's also stupid-greedy, in that I explained he'd hurt himself by giving himself all those shares as the stock price would get clobbered by a drastically increased OS. He didn't see it that way, since there were restricted and he was greedily holding them all himself.
Since then, he continues to make assinine moves that further hurt the company's investor confidence and practically made the stock worthless, e.g. firing a parade of people, giving false eps estimates (remember "a little better that $.1085?"), and continually jerking around the audit schedule.
Bottom line, The SEC will take him down or he must be removed by the weight of all his transgressions so this company and our investments can revive. Where he's going he won't have to worry about investments; he'll need to worry about that 6'4" 300 lb. animal looking for a girlfriend, if you get my drift.
Regards all from a voice from the past,
Gary Smith |
