Q: My impression of the conference call is that:
1) they apologized and took responsibility for the meltdown but did not offer details as to what the original two still own, possibly because of legal advice or they just think it's been beaten to death.
2) the questions from three analysts - Mackie, Beacon and a third I didn't hear - were soft and supportive so, at least, they have not given up on this company and, in fact, congratulated the team on the latest acquisition.
3) the new people in charge will no longer promote LOI's but will only announced signed acquisitions while implementing new strategies to cross-sell in a more complete and continuing fashion with methods that were previously successful at Sleep Management.
4) Overall, there was an underlying sense that they know they made a massive error in judgement and who knows who benefited as the share price lately may prove to be a gift when you can buy a stock for 50 percent off when fundamentals haven't changed (forgive my cynicism but some made a lot of money on this charade and, I admit, I bought quite a few shares at around seventy cents) but the underlying theme that surfaced from each of four speakers is that they now know it's time to stop blowing their horn and get down to building a solid, profitable business in a $250B market and let their results speak for themselves. As John Templeton was famous for saying - "well done is better than well said".
I am sticking with them and in three years this will be a five dollar stock, in my view.
Thanks for the opportunity to provide some insight.
Steven
1) they apologized and took responsibility for the meltdown but did not offer details as to what the original two still own, possibly because of legal advice or they just think it's been beaten to death.
2) the questions from three analysts - Mackie, Beacon and a third I didn't hear - were soft and supportive so, at least, they have not given up on this company and, in fact, congratulated the team on the latest acquisition.
3) the new people in charge will no longer promote LOI's but will only announced signed acquisitions while implementing new strategies to cross-sell in a more complete and continuing fashion with methods that were previously successful at Sleep Management.
4) Overall, there was an underlying sense that they know they made a massive error in judgement and who knows who benefited as the share price lately may prove to be a gift when you can buy a stock for 50 percent off when fundamentals haven't changed (forgive my cynicism but some made a lot of money on this charade and, I admit, I bought quite a few shares at around seventy cents) but the underlying theme that surfaced from each of four speakers is that they now know it's time to stop blowing their horn and get down to building a solid, profitable business in a $250B market and let their results speak for themselves. As John Templeton was famous for saying - "well done is better than well said".
I am sticking with them and in three years this will be a five dollar stock, in my view.
Thanks for the opportunity to provide some insight.
Steven
