Here, and just as piss*d as everyone else, probably more so. I hadn't looked at the thread for a few days (prior to Friday's release) and its taken a few days to catch up on reading all the posts.
First, since my name has been brought up a few times, let me make a few things VERY clear. I am NOT John Shaw, a company shill, RP's lover, or anything else of that nature. I track this company purely as one of my investments (one of the few BB's I own - thank God).
As I stated in one of my last posts (after being blamed for keeping everyone in SYCR, ridiculous), I simply report what I have been told from a variety of sources (including SS, IR, and others I know in the industry - both technology and financial). At times, I add my own opinions. To place any more confidence in what I say than anyone else APART from doing your own DD is not my fault but your own.
I have NEVER misled anyone intentionally - only repeated what I have been told. Even then, if something didn't happen or wasn't correct, it was NOT because of me! Don't kill the messenger because you don't like the news. I have contributed to this forum what I have learned, and much has been confirmed by others doing their own DD. I have also seen others write things that were news to me, so I think all of us hear little bits of information here and there, it gets posted, and some of it STICKS and some of it STINKS.
Regarding Friday's news - I am quite upset. I have been led to expect .02-.03 EPS for several weeks now. I feel like I have gotten some pretty sh*tty information frankly, and I am not happy at all. I have been posing many questions over the last couple of months (since the Comdex fiasco) and many remain unanswered.
I don't like being made out to look like an idiot (or worse, someone who has tried to deceive someone) because a company (SYCR) doesn't know how to do something very simple: under promise, over deliver. SYCR's biggest problem is RP, in my opinion. He makes some very grandiose claims and statements which he might intend to actually do (and I am being very kind there) but things take longer, plans change, some things just don't happen, but they say nothing. Deadlines pass, people's expectations (which have been raised by these promises and comments) get dashed, and SYCR and RP look like idiots, crooks, or something in between.
As last week unfolded, I began thinking that there may be a problem with the .02/.03 number projection (which I never heard anyone at SYCR say, but was certainly given as opinion by many people I spoke with). However, AT NOT TIME was I given the impression AT ALL that we would see what we saw. The only reason I am still holding, at least until I hear what is said tomorrow, is the new mgmt SYCR has brought in. I know that at least one of the new ones (who I will not name but is in a senior position) doesn't want to keep releasing "lots of sh*t" but wants to focus on fewer products, products that have much more potential. That strategy makes obvious sense, and they have begun sunsetting (i.e. ditching) their dogs. This strategy is fine, however it is different (in that there will be fewer products) than what was said at the last conference call. SYCR should be more proactive in informing the investment community of these changes rather than let deadlines pass, quarters slip by, with no new products, disappointing earnings, etc.
RP has terribly mishandled his position, and frankly, I question his integrity at this point. Perhaps something can be said tomorrow to make feel a little better, but I am not sure if those words can come from RP's mouth - it's too full of something.
Freddie - they are looking for a new President (not bullsh*t, that info was in a news release). Whomever they find, and it may take a while, will have quite a job to do. I don't think RP can get it done, again, unless there is more substantial news tomorrow. BTW - CC's rarely reveal substantial/material news since they are not open to general public and would thus be considered "inside information". There may be a press release timed with the call containing "news". If not, I expect the CC will be an explanation of Friday's release.
Finally, I think any major sell off tomorrow will be softened/absorbed largely by long term holders with deep pockets and traders looking for a bargain. This is an opinion, and maybe a wishful one at that. But I think if SYCR can demonstrate a good, long term plan and show some evidence of it working VERY SOON, they can salvage things. I think putting everything in one bad quarter is OK BUT ONLY IF the next quarters are much better. Q3 and Q4 are traditionally their best, so maybe they will look even better based on what they did with Q2. Big question, though, is where is/will revenue come from??? Maybe we will find out more on that tomorrow.
I am an investor in this company as are many of you, and I have the same emotions as you do now I am sure. I am hoping to use my emotions as a contrarian indicator (which they normally are). I don't like selling into a "lemming" market, but I don't like holding crap either. I plan to stick around at least to hear the call, think about their explanations, then determine what I believe is best. One thing I have stated consistently is that I believe SYCR is more of a long term investment. This is especially true now, because they obviously have a long way to go. I need to hear tomorrow: what happened and why, where they plan to go, who will take them there and how, and finally, I have to be able to believe them. And that may be the most difficult part of all.
Regards.
Tim |
