Interesting Meeting
posted on
Aug 04, 2005 06:08PM
I was there and saw exactly what fitterdude stated...two meetings. Only about 40 people attended, mostly ``more mature`` shareholders.
All just my thoughts,
First, there were the folks that clapped. This was also the crowd that could not understand the difference between selling to retail brands (old and dead biz model) and the NEW closed system hardware approach. RP was very good at explaining the same subject over and over using different terms. Tough job since I am convinced most of these folks had not one clue as to what had been presented to them only a few minutes before....it was even in writting on a Power Point presentation (with extra large type) which allowed those of us in the building to understand a portion of what Atul actually said.
The other agenda was from jtdii and a crazy guy that couldn`t put a complete sentence together in English. jtdii came well prepared with a multiple page list of ``concerns.`` He told me they were ``hard hitting`` and he wanted RP not to be blind sided, so he gave him copies. That`s fair and he certainly has the right to ask tough questions. I didn`t read the list, but RP refered to a copy several times. He, obviously, did not like some of the points. I spoke with John but he was distracted with the lack of cooperation from EDIG staff to copy his list and distribute to all attendees. Duh.
As for the guts of the meeting, all previous mentioned OEM deals, Asian deals, military, Fusion, and any other before mentioned and not current project appear to be toast. Dead. Many thanks to ole Fred for...........NUTTIN` Without Boyer, EDIG would be done as jtdii pointed out and the numbers simply prove it to be true.
EDIG will change their strategy to focus only on 1) their NEW DVAP closed end system potential customers, and 2) ongoing portable biz with APS / Wencor. They will make it happen or they will go away. They do get it and RP plainly acknowledged their past failures while `ole Fred sat there shaking his head like a bobble head toy.
Do they have a signed, sealed, and delivered deal already? IMO, No way. We have played the ``not announced yet`` game for years. If you fell for that quick little RP blurb after hearing all previous ``not announced yet`` deals were dead, then you drank too much Kool Aid.
Does the new ``closed system`` (not looking for retail brands) only biz model make sense? Yes. If they can close a deal or two they can make money. The focus has changed but the sales team has only diminished. BTW, I have no idea way jtdii asked about Feggie, RIP, as we should just be happy we don`t have to pay for his lame arse any longer -- how many deals in how many years completed?
Bottom line: They cleared the air and killed the many BS rumors. Then showed a possible new light at the end of the tunnel with the new kino based product. Better than any of the dead deals.
I told RP he did a good job. We can piss and moan, but at least they came clean about all the old projects. EDIG is still a speculative stock. Today, EDIG`s mission, their potential customers, and their game plan is much more clear than in the past. IMO, that`s all that changed today.
John