I will be brief and unemotional, to the extent I am able.
Spoke with IR, others spoke with CFO. Distilled, here is the story the company is telling:
There will be no "deal" by the end of the Q--i.e., tomorrow.
There are a variety of alternatives being considered by the BOD, including a strategic alliance and, supposedly, equity. It is suggested that the co. has a largesse of opportunity and wants to cut the best deal.
The time frame is sooner rather than later, but no projection, so there will not be further unmet expectations. Company line: These guys have substantial telecom experience, did not recently fall off the turnip truck, have faith.
So, if you believe them, only the timing has slipped. I agree with SG's sentiment that tomorrow will see a further selloff. For the true believers it will present a buying opportunity. For others, yesterday was a good day to sell.
As for the analysts, etc., I would think they're experienced enough to realize there is no magic to April 1. If the deal milestone slipped due to options presented, this should not diminish the Co's value. And, they can learn this info as easily as me. |
