Glenn, no offense intended, but I disagree. I'm not picking a fight with you. You are a shareholder of ATXI, I am a shareholder of FAMH, hopefully, for everyone's sake, we will both be shareholder's of ATXI.
Point number:
1)The price Atxi trades at today may not, in it's entirety be do Famh's unsolicited bid. Your extreme arrogance in referring to Atxi as a shell with no future is beyond belief. Could be Mr. Mathwig owner of Metro Sales might be buying up more shares at this time, using your amaturish press release as the perfect time to accumulate more shares.
Glenn, everyone has access to the charts for ATXI. To be perfectly honest, it doesn't look that good. THE ONLY REASON why ATXI is getting the attention, and volume that it has is because of the speculation from this merger. A $30k contract for copiers isn't going to do it. The government probably spends more on toilet seats for Air Force One.
FACTATXI stock started a free fall the middle of last November.
The 4 to 1 reverse split on 12/16 slowed the descent, but not by much.
Look at the chart, only a handful of days where volume was over 10k from 1/1 until this merger speculation. No retail demand = continued decline.
FACTATXI in their 12/97 10QSB stated net profit for 1997 at only $500k off of only $5MM in revenue. They also depleted a credit line, of which they used $800k, and of which they only had, at that time, $20k left. Their borrowing capacity is next to nothing, even for a small business.
FACTATXI stock never had a two day stretch with high retail demand until they were speculated as the merger target. Look at the charts. It wasn't ATXI's management buying those shares( with no cash how could they ), it was FAMH's shareholders, and or it's management.
2.How many patents does FAMH own? That's right ZIIPP!
FAMH isn't in the technology sector, or the small tools and appliances sector, it is a staffing and employee leasing company, although if you could clone Ira's metabolism, that could be a patent right there :-).
3.Can you say Standardize? Meaning, it's first sale to your government was only 30k but you might just want to envision their metering of copiers thru their patented device as the standard for not only the US government but in any business that needs controlled access.
With all due respect, there are bigger fish in the copier business with actual money to lobby officials and their contracts(Xerox, Minolta, Canon, NCR, etc.). A unit that monitors copying through a badge isn't too technologically advanced. Swipe cards have been in existence for a long time. Their cheap, and the technology is easily modified to control simultaneous access to different office equipment, as well as to actual physical access to offices or computers.
4.At this time 4 shareholders control the future of Atxi, not your IRA or all the other shareholders combined that hold Atxi! They are not going to give you a "shell" without compensating the shareholders
for what they believe is fair and that only they know.
Who said anybody didn't want to be fair? Face it, everyone wins. And if those 4 shareholders( does not include Gerber or Reidel, only 100k shares between the two of them ) were completely in line with management, why did it take Steven Reidel almost 2 hours after being contacted, or after contacting the NASD to put out a response? My guess, and a logical assumption, would be that they were trying to get a hold of those 4 shareholders and either couldn't, or didn't get the answer they were looking for.
FACTA majority shareholder in ATXI was recently denied a seat on the board of directors. Wouldn't seem like he/she would be too happy with management.
FACTMajority shareholders have expressed discontent at ATXI's management's lack of leadership, lack of ability to increase revenue, and lack of acquisition prowess.
5.Last comment. How dare you call my company a shell? At least I know they made money 14 out of the last 16 1/4's! Can you say that? I
DON'T THINK SO!!!
FACTEven with the recent runup, ATXI only has a market capitalization of $4.6MM. With only 800k shares in the public float, the public float, even with a $5 share price only has a market value of $4MM, $1MM less than the REQUIRED $5MM needed to continue a listing. It's at nasdaq.com go check it out for yourself.
FACTATXI only has net tangible assets of $3.8MM, close, but not equal to the $4MM minimum for continued listing. With declining year over year revenues, that asset base is going to shrink.
Glenn, not trying to be rude, we can all win. If you don't see it because I offended you, just think of the money we will make :-)
Jin. *offer's a peace pipe* |
