Mr Asset, What sort of mind altering chemical have you ingested?
I hate to be repetitive but just look at some facts:
The company has never made one penny profit on the sales of goods or services. NEVER in its entire existence. They have been losing money at an average rate of $4 million per quarter for the last three quarters at least.
Camelot has never brought out a product on time...never (well they did once...BUT it was standard Digiphone, they sold it to poor suckers like me, but it did not work for another 8 months). Perhaps you might explain why you think these useless gimmicks like Proficia (already sold by several companies...never caught on) or the voicemail program ( also being sold by many including M$ also not a big earner for anyone that I know of) will actually be available when promised. And if they are, so what...no big money earners here I am afraid.
Here is a little something that I got from a friend well acquainted with the goings on at Camelot:
"I have collected some information which should be of interest to you.
As of today, there is a consolidation of Software @ Cost plus 10% stores. Rumor central indicated all the stores were closing given that the majority of corporate employees were either shot (*** I think they were kidding here...I have heard of no homicide charges pending (PP)***) or resigned this week. Upon calling a couple of stores to find out, it appears that Caml is keeping a couple of the better ones open and "consolidating" the smaller ones into the larger.
Mind you, these are the same stores which were converted, at no
insignificant cost, from Mr. CD-ROM to Software @ Cost only three months ago. A dog, by any name, is still a dog!"
"Other news from rumor central... one of Third Planet's top development managers has packed his bags, apparently on the heels of several of his former employees. Meanwhile DW has apparently not been in the Dallas office for about six weeks. Combined with yesterday's press release regarding CAML trading on the German exchange, it would make one wonder if the king of Camelot is contemplating a second chance in the Old World."
(Or maybe hoping that ripping people off is not an extriditable offense??)
This info combined with the recent fleeing from the company by the president of the retail division and an executive VP over unethical business practices, and investigations by both the SEC and FTC should tell you something.
First and foremost, people on the inside that know more than you or I, do not agree with your rosy assesment. Second, a company cannot develop products when it cannot hold on to a development team ( they have traditionally turned over developers at the alarming rate of around 30% every quarter, it sounds like this trend, as bad as it is, is accelerating...read, going in the wrong direction!!). Third, management at Camelot seems to not be at all concerned about doing business in any sort of ethical manner!
Please notice the new version of Digiphone using standards, and based on open architecture that was promised in December 1996 is nowhere to be seen...? Did you also notice that Digiphone Delux was released almost a year after it was promised?? You should also make note of the FACT that though all of the competition is bringing out feature rich new versions of their software almost monthly, Camelot still has an ancient (by Internet standards) product that has not seen any improvements (other than a few useless gadgets several months ago) since it's inception!!! Even the promised "new version" is lacking capabilities that users find neccessary today. They have promised no text chat, no whiteboard, no VIDEO, no file transfer... no real time addressing server...
If you had really studied this stock, you would know that the assets to debt ratio was achieved through stock deals to retire debt, and the sale of "rights" for stock of indeterminate worth (they write it down every quarter, but never take it off of their "cash" statement.
They are living on borrowed money as leveraged for stock, not earnings. The last preferred stock deal cost that "anonymous foreign investor" about 40% within a couple of weeks, how long do you think they can find investors that want to take such a beating. They ran out of US investors, I tend to think that they have run out of European investors too.
Apparently your studies of Camelot have been as superficial as your outrageous predictions about them being "back in the hunt". First "back" is inaccurate...they never have been anywhere close to any competitive position. Second there is absolutely no reason to predict any change in their rapidly deteriorating fortunes!! In fact all of the available current and historical data tends to point more towards extinction for the beast, CAML, than towards any kind of resurgence.
Disregarding all the facts, you write junk that indicates that thinking people should ignore reality and buy into your obviously ill conceived OPINIONS?? WHY?
Unless you can come up with some kind of objective reasons for your ridiculous assertions please spare the readers of this forum the inane ramblings.
If I want future predictions not based on any sort of fact, I will read Casey, at least he has come close once or twice.
BTW "just cause I said so" is neither rational nor objective. |
