An interesting post from RB.
Got rained and snowed out on the fishing trip will just have to try again next week.
J.OIL
Well, we've been accumulating a lot of negative messages here as well as on SI now that Phantom has gone from raging about Jaws' future to slamming it. Just a few of my own thoughts for the board:
1. Barrie's been badgered about "certifying" L5. Jaws' is in the process of doing exactly that. Anyone care to speculate if Florida State is the university working on the project? Anyone know anything about their program?
2. Zerobid's freakin' over the FLNK/Jaws connection which is old news. He's also stressed about squabbling over a disputed bill. Well, welcome to life. I work for a large company with many "wholly owned subsidiares" and they're always squabbling about who pays what... everybody's got their profit goals and expense reports... we're still a unified company and squabbling over a bill with one hand while working together in general isn't unreasonable for an "alliance" either. Zerobid's really scratching. Probably the easiest thing for Robert to do would be to issue a bit more paper, payoff FLNK and avoid the slander (more on dilution next). Frankly, if Jaws thinks somebody's overcharging... good, fight it. That's some of my money they're being careful with.
3. Been some stress about dillution. LL bored the blazes out of us last fall about that. Even Phantom was pro-dilution -- so to speak -- back when he was buying. Barrie's been pretty candid on the subject. If you don't like the current financing scheme (which Jaws is stuck with as a non-reporting, low-asset, start-up), then go buy coca-cola or IBM or somebody big and secure. Buy OTC-BB: expect dilution risk.
4. Jim (Lizard) created quite a stir. Frankly, I prefer to see a company like Jaws not relying on one brain -- no slight towards Jim at all. If he had of just walked and left Jaws in the lurch, well, that might be bad. But, they terminated him. Obviously they felt that the team that took his initial work to market was competent to handle upgrades, customizations and other applications. For reasons undisclosed they felt that they needed to let Jim go AND they felt that were able to. I doubt it was a knee-jerk termination followed by an omygodwhathavewedone....
5. There's been some comparisons with Certicom, but not honest ones. Lets compare Certicom one year public with Jaws today, one year public, and we look pretty darn good. You don't, directly at least, compare Jones Soda to Coke (and yes I know I've exaggerated the scale-difference, but the idea expressed by way of illustrative hyperbole).
6. Salaries at first seemed scary. Shoot, I'd like to work for Jaws for that kind of money... until they start offering it in stock locked up for x number of years. Frankly, I think Robert et. al. have got one of the best motivators going to take Jaws higher... for the long term. An over-dilution, a paper-company, meaningless alliances, slow sales... hey, these are key executives' potentially huge salaries going up in smoke. I'm glad to see them not panicking, but stacking up a nice row of allies as they go about taking the world by storm.
Phantom and Zerobid have kind of painted themselves into negative-corners and the temptation will be to bail... I bought some of my January windfall at 20 cents last year... means somebody sold. If Jaws is a large part of your portfolio, look out... not a safe approach to portfolio selection. If Jaws, book value, is 5% or less and you're still in it for a long term (at least five years), hold tight, guys like Jaws' management have a lot more wrapped up in the company's success than you or I put together. One thing Jaws isn't is a daytraders paradise and for me, that's one more reason to be here.
Well, if anyone stuck around for my monologue,
Cheers,
Krino
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