Dear Athiest-
I really like getting flamed by people who hide behind nicknames. But all that aside, I am sorry that you are offended by my "misleading posts," in which I usually quote from IATV press releases or IATV SEC filings. My only source of information is IATV themselves in what they publish.
I took great issue with the compensation plan, and posted all my sources for that information, and posted numbers that 1) jibed with the information I had and 2) showed why I was so concerned. At the urging of some members of the thread I faxed my information to IATV and was told that they would be happy to talk to me but did not have time to respond via e-mail. Fortunately, I didn't have to take the time to call because their most recent 10Q (filed after I made my posts) answered most of my questions. When the 10Q came out I posted several passages from the 10Q and showed (in as much detail as my prior posts) exactly why I felt the 10Q had addressed about 90% of my concerns, and I posted as open questions for the thread the concerns that the 10Q didn't address (mostly accounting stuff). To date I have received no answers from the thread. Seems people have plenty of time to tell me how annoying I am and no time to respond to me.
For the past several months, my other "major issue" with management has been lack of a well-defined rollout date. I am a shareholder, and I'm sorry if you find my 150 shares to be "puny" (your word), but I think that every shareholder has a right to expect that management will do its best to maximize shareholder value. More profits = More shareholder value. We need revenues to have a possibility for profits. We need a rollout to get revenues (unless $400K/qtr is enough for you, which it shouldn't be.) IATV had a beta in Canada in the early-Mid 90's (I want to say 1993 but I could be wrong) and then another beta in 1995-96 in California. These betas proved that the technology is available and that the customers want it. The product is almost a guaranteed success if they can get the darn thing out the door. Every day they wait means another day that a competitor can show up with a better product. I know IATV is protected by patents, but the world is full of innovators and someone is going to eventually find a better idea (hopefully it's an IATV engineer). I am tired of the company constantly predicting a rollout date and then postponing the rollout. In a previous post I quoted from IATV's SEC filings (I would hardly call quoting SEC filings 'misleading') where I showed for fact that IATV is always claiming that the rollout is just a few months off.
When one poster who went to the Annual meeting said the rollout would be in Y2K, I got upset, until a second poster said the rollout would be 3Q99. When the first poster took issue with the second, I posted the real long post that I referred to in the previous paragraph. After that post, I read where the second poster said that he was positive they had said the rollout would be 3Q99 and I immediately went to my post and put a nice "EDIT" message at the top stating that fact. I hardly call that 'misleading.'
You can tell me that I'm "polluting the thread," but frankly, I think you're wrong. If I were posting false information, I think you would have a valid point. But 99% of the time that I post, people who disagree with me do not argue with my points, they simply post saying I'm wrong and should shut up. I have said before and I will say again that I am long the stock, and when I post something negative about the company, I want to be wrong, and I always invite people to produce information counter to what I have posted, especially information that comes from the company (SEC filings, press releases, mentions on their web site) that can easily and publicly be verified.
-Mike |
