I agree, in principal, with most of what you said. However, it's my opinion that the company will be profitable this quarter. If not, the 1st quarter of '99. As you said, they have been narrowing their losses and increasing revenues for most of the year. This should continue for the foreseeable future. They simply are not tipping their hand to any possible competition by not releasing what we all want to hear.
They have come out of the transition stage and are about to come out of the development stage. Next comes the growth stage. Based on comments made over the past year, I would expect them to start doing acquisitions when the price of the stock gets higher. They realize that to grow, they will have to develop or acquire new products and markets. I think that they have done well with the acquisitions made in the past, i.e. Tangent, TRC and Sedona. Both Tangent and TRC should be profitable by now, and have provided some of the capital required to get Sedona off the ground. And before anyone says that the company is still losing money, therefore they haven't provided the money needed, without them, the company would have been out of business long ago. There would have been no "well" to go to for the financings done over the last 2 years. There wouldn't have even been any point in trying. As much as those private placements were disliked by us investors, they HAD to be done to get the company where it is today.
For as long as I've been in this thing, a couple more months sure as hell won't hurt me. |
