As I recall, the company thought the Realty Money deal would be completed by then (Announced it in July). I doubt they expected it to be delayed thus giving them something positive to report. Only makes since to delay reporting when Realty Money was delayed. Without the Realty Money deal, theres nothing to report.
I know, they shouldn't have announced it before it was completed. Same thing with Belize. We all agree that John put the cart before the horse back then. But, in fairness, don't you think we should give them a reasonable amount of time to report. Forget his words in July. If he had kept his mouth shut about reporting that quarter, nobody would have expected anything before year-end. Very few new companies, BB companies especially, report financials before their first year ends. You have to give them time to establish themselves. As a business person myself, and many should know this, the first quarter is always the worst. Start up costs, acquisitions, hiring staff, etc.., with little to no revenues, are not worth reporting. Causes more damage than good. The fact that we are getting financials, yes I believe we will, after year end and only seven months of life is pretty quick in my book.
So why crucify them in their infancy. Give them time to grow. Give them until February 15, 1999. Its not that far off and its not that much to ask. Nothing happens overnight.
Thanks for listening.
Bob |
