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To: cicak who wrote (33354)8/8/1999 10:31:00 PM
From: Zeev Hed  Read Replies (1) | Respond to of 44908
 
In fairness, you should go back to March when I was first notified of this floorless. In fairness to yourself, you should also go and read random samplings of the thread of TTRIF where the "potential" was just as great but management managed to squash that potential by self ingratiation and reliance on floorless financing. In the case of TTRIF, my "bashing" started when I found out that the Chairman found a perfectly legal way to gift himself $5 MM of the stockholders' money, not much different that Gordon doubling his pay and gifting himself 5 MM shares (I am not talking about the oodle of stock he got and sold through combination of debt and generous options granted to himself).

The floorless is a symptom that management does not give a damn to stockholders and their well being. Such characteristics do not change, whatever the "business model".

Yet, your sign of a potential success will be the actuallization of financing in which the "new money" is willing to take the same risks you are taking. If the financing has in it "trap doors", escape doors, floorless and various green floors (a new invention of the wunderkids on the street), hedging opportunities and other shenanigans, you know that the slippery road down will continue. A quarter or two of actual profits will go a long way to achieving success as well (g).

Zeev