Steve,
First, if you call GYMM and ask for the address of the Chicago healthclub or the Sacramento one, you probably will not get it. It appears the receptionists is instructed not to answer any questions. So, as an investor if you are traveling to Chicago and want to go to GYMM to workout, good luck. I did visit the club in Portland, Oregon before it was closed and talked with the manager. He was a great guy and the club, although small, was clean and well furnished with equipment. GYMM has been building the Chicago club for a long time. Something doesn't seem right.
This company was Gordon's brain child with someone who I can't remember. He has left. When the controlling stockholder of a company stinks, I don't think it is long until the company does too. There are many examples. I have called NASDAQ and SEC and neither has ever heard of an appeal by GYMM. However, they do know it is delisted. Without substantive information confirming there is scheme to defraud GYMM, I am hesitant to write my a senator. I was the fool who invested. I even recall talking to one of the others sentenced to prison.
Have you ever wondered why the receptionist answers "Corporate Offices?" IMO GYMM is only one of several companies owned by a larger company specializing in a business unknown to me. Think about this for awhile.
Now the subjective positive. I have talked to Bill and believe him to be credible. I have also talked to GYMM's General Counsel and feel the same about him. GYMM is in big trouble and if Bill knew how to get it solved I think he would do it. When you don't know what to say the best thing to do is to be silent. In the case of us stockholders it is aggravating. However, a periodic factual letter to stockholder is needed. I fault Bill and the advice he get from Greg Larson for it.
John |
