DJC,
Glad to see you tone it down a bit. As for me, I suppose my "chill" factor is relative---I read several threads here on SI that define "ra-ra cheerleading" at it's finest, so to be even casually lumped in with them really turns my stomach.
As for info on the lawsuit, I agree that it is hard to get a clear picture. I also disagree with Brian about not sharing old info. If I knew definitively what the lawsuit was about and could boil it down for you, I would do so with pleasure. I have frequently relied on the kindness of others to do the same for me. Unfortunately, I don't have that kind of knowledge handy. The lawsuit has always been referred to by IMMD as a nuisance suit, and with it's settlement in progress, I tended to agree.
What I will try to do (as soon as I can get to it---I'm busy this weekend since it's my birthday!) is go through those notes from Proidgy that Brian refered to. I have over a year's worth archived, and I will see what I can find. It will all be secondhand discussion, but that's the best I can do. I will try to post over the weekend.
Finally, I should say that I take a fast and loose approach to microcaps. You can make money on a loser and lose money on a winner. And none of these stocks represent "real companies" IMO. That's why they are so cheap. Managment will make mistakes, past crimes will surface, RegS shares will be floated in, lawsuits abound, earnings projections will be way off, etc. A lot of it is just faith, luck, and patience at this point. In a year or two, some of these companies (IMMD included) will develop to the point where we can put them under the spotlight and pick them apart. But for now, I EXPECT to see weakness and mistakes and apparent contradicitions and conflicts---that's part of the dog-eat-dog world of doing business for a small company. If lying, cheating, and stealing now, while they are on the OTC bb (a den of thieves in itself), helps them to become more solvent and successful, then so be it. When they crawl out of the muck with a profit THEN they can work on being a reputable and by-the-book company.
Just my opinion and I'm sure others will disagree, but whenever I buy one of these micros I feel exactly the same as when I tell the dealer at a blackjack table to hit me....
Jape |
