To: ChinuSFO who wrote (2465 ) 5/29/1999 12:49:00 PM From: tinsoldier Read Replies (2) | Respond to of 2994
Chinmoy Roy re: RDIM a bad stock Chinmoy, on this board you have just posted blasphemy and you have 48 hours to repent or face the post holiday wrath! All non-reporting OTCBB stocks are bad stocks for the arms-length investor. Period! The reality is that all of the dirty little terms and conditions which Greg simply and honestly brought up will rarely, if ever, be reported by any BB stock in a public press release. Just look at it rationally. If the acquisitions involve restricted stock, then this this good news for arms-length longs and press releases would logically say so. An announcement of any acquisition without details on the terms and conditions only means that the only benefactors are the insiders to the deal. Period. Could be cheap shares with mere 45 day restrictions, could be preferred shares convertible at a discount to common shares at some future date with the conversion rate tied to the common share price AT THE TIME OF CONVERSION, could be anything that clever minds can think up. I guarantee though that whatever the deal, risk avoidance by the deal makers and risk-transfer to arms-length shareholders who buy on the open market are the guiding principals. The bottom line is that the principals and officers, as well as private placement shareholders and insiders to any an all acquisitions, do not give a rats a.s.s. about you or me or anybody else they don't know and most press releases are just teasers, appeasers, or come-ons. How do I know? Because if I were in the same position I would to the same thing and I'm a decent, honest man. It's just a money game my friends and they set the rules and they don't share them. This, I believe, is a universal truth for any BB stock. With respect to RDIM's much touted business model, give me a break. Who wants to buy household furniture by mail order? Shopping is a social experience. Do you want to sit in a chair and buy a couch or sit on the couch before you buy? Do you want to lie on your bed while you buy a bed or lie on the bed you're buying? Do you want to watch TV while you buy a TV or play with the remote on the showroom floor for all to see before you buy the big screen?. Do you want the vicarious thrill that comes with spending money in public or do you want to make private purchases from your den? I remember when I was a newlywed and my wife and I were setting up our humble nest. It wasn't just the joy in the actual purchase but it was the excitement of shopping around. The tire-kicking if you will. The interaction with other human beings. The liking this salesperson and not liking that one. The gossip and discussion over who's feeding you b.s. and who's not. The satisfaction you get when the salesperson shows genuine pleasure and gratitude for buying from him or her. Many posters here don't want to acknowledge these realities. They will accuse me of short-trading, whining or whatever. They don't take kindly to the negative realities as they promote the vacuous press releases and dreams of RDIM becoming the SAMS/Walmart of the e-commerce world. Ask yourself this though. If e-commerce is going to be so great for RDIM, why hasn't WalMart already taken it over? Insider's, daytraders and MMs. If your not one of them expect to get torched.