Current state of things
posted on
May 15, 2008 12:43PM
I think we all can agree that none of us (left) thought we would see sp in the .20s again. When I feel like tormenting myself, I calculate how much money I would have made/saved if I sold when sp was over $2.00 per share - Ouch! Anyway, things have obviously taken numerous turns for the worse since then. On again/Off again licensing is currently off again, the only final judicial determination regarding any patent infringement is that ARM does not infringe on 584, the only numbers we know about from J3 settlement are much lower then anybody anticipated raising questions about the strength of MMP which is our bread and butter, shareholders kept in dark under blanket of confidentiality, some poor decision from BOD regarding past dividends and ARP, all add up to where we are now - .29. So why I am not selling (and may actually buy more at these prices):
1. Although strength of MMP maybe questioned, I still see nothing fundamentally wrong with our ability to continue to pursue licensees. How each company may be infringing on what patents and to what extent it affects what numbers is way too technical and complex for me to understand so I have to believe that the numbers we have received from whatever companies are appropriate for that company and we are forging ahead.
2. I can not believe that our little penny stock company could attract guys with resumes like Goerner, Bibeau, and Schrock, and they would put there reputations on the line, if there was not sufficient information available to them that made it would be worth their while. Similarly why in the world would the BOD even create a VP of business development and dillute their resources and complicate their jobs unless they believed it would create a long term benefit.
3. We still have over 20 mil for decent M&A activity even if we dont get another penny for licensing (which there is almost no chance of).
4. Goerner is already proving himself to be much more proactive and communicative then past CEOs. New BOD members that have not made a penny yet voted against another dividend confirming they are in it for the long haul and not to make a quick buck.
5. At .29 there is much more up side potential then downside potential. Why would anyone sell now?
All just IMHO. Not happy right now but still long and semi-strong!