posted
hey yall. I'm wondering what you all think about the newbies? Rockan must be inside, right. Itstinks is looking to make trouble for the company. The big question is why? Why are they playing in our space? Those two should take it outside. Did anybody write to that gmail address? curious what former employees have to say.
This looks like a good product. Hope they don't blow it. That whole conversation with the ceo sounded like bs. Sorry cyclekitty, but it just does, but you were there, so what do I know. Sounds like the evening news to me though. I say dump the CEO and get a new one. That could really help the stock. Too much blah blah blah and no specifics. He's dancing and that's not an attractive thing when you are a shareholder. Can he be dumped?
IP: Logged |
posted
cyclekitty1 seems like a very smart person and I was saying the bs was from the other end of the phone. no offense intended. I just don't know if we as shareholders can trust that someone with a record like his would tell us the truth. I'm not trashing the company or the product.
IP: Logged |
posted
Thanks BuyTex. Good advice. Sure didn't mean to diss cyclekitty. Just trying to sort out the last few posts of the new folks.
ItStinks is probably just some pissed off former employee with an ax to grind, right? I guess they probably don't have stock or they wouldn't be making a stink. He would be cheering it on.
That said, I still think the ceo might be a serious impediment to their success. But, I suppose companies survive bad ceos all the time.
posted
borderelinpd, I didn't take it as a diss, what i'm curious about is why you think the ceo needs to be dumped? This guy had some problems several years ago, not serious enough for more than a slapped hand. He said (and this is verifiable)that he puts his money where his mouth is "In his company". He recently bought 2.5 million shares on the open market. He said they are releasing several new products in the beginning of 06, backup products aimed at the business and consumer communities. such as the recently released spare switch. completely transfers all your stuff from an old computer to a new. One touch! spare-backup (which I am a subscriber) is literally the best and cheapest solution I have ever seen or used for small business. new products being introduced in 06 include backup for ipods, pda's and cell phones for something in the neighborhood of 25$ a year. Huge marketing blitz. successfully built and sold a company already for over 200 Million. Sold the company rather than let stockholders take the fall for his spanking from the sec. Closed a branch office and brought all of his developement teams together where he had more access to them and they to each other. Offered all employees that wanted to relocate a job. Dosen't dilute stock!!!! when is the last time that you saw a penny stock move 10 to 20 cents a share (up or down) on less than 100K volume? O/S is 22Mil. and that is posted right on the web site for all to see. Now you have heard some of my reasons for keeping Cery Perle, what are yours for getting rid of him? BTW I am not a newbie or gullible, At the end of post after my conversation with CEO I said I liked this company even better now than I did before. Good Luck Everybody!
-------------------- "There is only one good, knowledge, and one evil, ignorance" (Socrates, 470-399 BC)
IP: Logged |
posted
Like I said, I like the product and I think if there is some great marketing behind it, it will take off. I am still hopeful and I'm still in the game, just suggesting that we should take a hard look at the ceo.
This is long, so I apologize in advance. Cyclekitty wants a real answer though, so here goes. This is the short list of why I think the ceo may be a liability which has been growing for a couple of months. The points are small and large with lots of opinion.
1. There are inconsistencies in what is in their financials and what he told cyclekitty. It sounds like they are rolling in dough and clearly, they are not. Now, I know that business can be smoke and mirrors, but not when you are public (I can hear the hehaw, but you know what I mean. It isn't supposed to be.) For example, he says Grassroots is going great guns and, in fact, they officially announced that they had stopped putting resources in that direction to focus on Spare Backup. What does this mean? I don't know. Wish I did. 2. His staff is leaving and not being replaced - the vp of marketing and the sales executive from compusa who brought in all of those deals vaporized which happens in startups, but still where are the replacements? Like kbmunro said, how is he having a marketing blitz after the first of the year without management staff and no vendors? Doesn't add up. 3. How many Spare Backup customers do they have, did he say? tens, hundreds, thousands, tens of thousands, a hundred thousand? anyone know? They put out press releases when they get a new coffee maker, so why no sales numbers? 4. They've burned through 34 million dollars which is pretty startling given that they aren't even a medium sized company with a manufactured product they are cranking out regularly. They have servers with software and an online subscription service. Seems to me you'd have to be burning money in the parking lot to get rid of that much even if you are handing out shares like they are napkins at a barbecue. Since they are spending so much in development then they must be going down some paths that deadend which is common, I know. Obviously, it is a game of chance somewhat and you have to decrease your risk by being laser smart. Sounds like some wildly unfocussed development is going on and money is being flushed down the proverbial toilet. The ceo has to lead well and this is some expensive blundering. 5. Like putting fingers in a dike, they seem to hand out stock to buy services (spam faxing a few months ago) and buy out of trouble (legal trouble). The fax spammer took their stock and sold when the stock was over a dollar on the big exciting frogster-induced up-swing early on. The people who bought in while the stock price teetered at those dizzying heights paid for the spam fax blitz. That couldn't have felt very good. And, really, how effective is that marketing? I ignore those things outright as trash not to mention a trashy business practice. 6. According to ItStinks, if we are to believe him, frogster was hired to pump the stock. We all take risks in doing this and that is part of the game, but we go into this assuming that most people play fair. This makes me think that an SEC fine of few years ago might not have been the lesson it was intended to be. 7. I also have to ask why ItStinks showed up this week out of the blue with dark messages to bail. It is vindictive and, at the same time, an attempt to be a hero. Why bother? Why now? What do you have to gain?
I think separating out the ceo from the company and the product is a more reasoned and prudent approach. They seem stalled financially, to say the least, and need some fresh blood and capital to survive. The ceo stands to lose just like we do. He could make a choice for self preservation and step aside.
A new executive could help raise needed cash. This is the classic story and we've all seen it before. Someone builds a company and then gets replaced. Happens all the time. I am of the opinon that the board should hire a seasoned high tech executive at this point.
IP: Logged |
quote:Originally posted by kbmunro: In response to Cyclekitty1's conversation with Cery Perle-
“When I asked him that question he laughed and said WHAT VENDORS? they don't really have any vendors!”
“new products being introduced in 06 . . . Huge marketing blitz.”
Both statements can’t be true, so which are we supposed to believe?
when i was in the corporate world? we used the word vendor to refer to those who sold to us... am not putting words in Perlie's mouth, but clearly the company has marketing outlets...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
borderlinepd. an excellent post. I have forwarded this post to Perle. Without giving away any insider information, I'm not sure how throughly he will (or even if he will) answer your points. Some of them I don't quite understand though, you said vp of marketing who brought in all those deals vaporized. How so? Compusa, Hewlett Packard, Fry's, TigerDirect, Those deals are all alive and well. Marketing blitz has been ongoing since this stock was first posted. Not sure how you figured that they are passing out stock like napkins at a barbeque with only 22mil outstanding. (Now PLNI there's one haveing a huge barbeque. lol) As for the fax fiasco 900K that was emphatically denied by the co. and verified by the advertiser who was paid, said it was 5K. Sorry guys I have to finish this later duty calls I'll let you all know Perle's reaction to borderlinepd's post . assuming of there is one. Later.
-------------------- "There is only one good, knowledge, and one evil, ignorance" (Socrates, 470-399 BC)
IP: Logged |
posted
Sorry if that was confusing. What I meant to say is that the vp of marketing left and the sales manager who came from compusa left. Two separate individuals and important players at that.
The compusa guy seemed to be responsible from looking at the timeline, at least from the outside, for getting that flurry of deals that they had with Fry's, etc. I'm not saying the deals went away. I'm just saying that key staff seemed to be either bailing, getting fired, or something and they haven't been replaced. BTW, did you actually see something about HP? I never saw a press release about it and nothing on their site. That seemed like a no-go.
Glad you appreciated the napkins at a barbecue analogy. Maybe I got carried away.
I'm very interested to see what Mr. Perle has to say in his own defense. Thanks for sending it on. I strongly suspect he's reading this regularly but would need a way to respond and you have given him one.
IP: Logged |
posted
Kitty - have you heard back from Perle yet?
I also notice that Froggy seems to be an infrequent contributor here; and since he seemed to have very good information when the buzz started...and would assume he also has a significant stake in this company...I'm wondering why he's been so quiet. Any thoughts?
-------------------- "It's a dog-eat-dog world, and I'm wearing Milkbone underwear"...Norm (Cheers)
IP: Logged |
posted
Still here guys... We'll get back up there soon once sales figures start coming in.. Happy Holidays all.
-------------------- Just so everyone knows, anything I state in here is classified as a RUMOR... Nothing is DONE until OFFICIAL PR comes out... Don't change your thinkin though! This is a message board... Everything I say is in my own opinion.
IP: Logged |
posted
Might I suggest someone calling the transfer agent every weekto see if the o/s is increasing. It appreas there is some dilution going on. This is was taking from there last sec filing 11/21
The total number of shares of the issuer's common stock, $.001 par value, outstanding at November 8, 2005 was 35,659,208
OTCBB.com shows the o/s being 28,636,663 as of 08/04/2005
IP: Logged |
Froggy only pops in on and off. He started getting a little bashed even though alomost everything posted came to be.
People are impatient and wanted a 500% overnight. Froggy actually gave us 300% in a month.
I am sorry to see him not here.
When froggy brought the stock in it was at .50 she went as high as 1.58 ever since then the daytrades have lefted the stock and now she is where she is now. Wasn't some news with Dell expected? Not to sure what will come out of this but all the crazy numbers people have thrown out has not come to be. This stock was a great daytade for a month and now it looks like a pump and dump. Good luck to all who are in and hopefully most of you made bank. I know there are alot of people who are stuck above 1.00+ but just keep faith...
IP: Logged |
posted
regarding any dilution...i think cyclekitty commented on it well on the last page:
"Basic and diluted weighted average common shares outstanding .......................... 30,605,811 19,335,609 28,184,029 14,141,907 ============ ============ ============ ============ Less than 4 million shares were diluted, Thats how they paid for the advertising blitz. And I don't think they put all those shares on the market. 1.5 went to the new VP. 500K went to the new sales people they hired in the last few months. Which means about 2M went for operating expenses. After figuring all the insider ownership leaves about 19M in the float. How often have you seen a stock move 20% on less than 50K volume?"
IP: Logged |
-------------------- "Sometimes I lie awake at night, and ask, 'Where have I gone wrong?' Then a voice says to me, 'This is going to take more than one night.'" - Charlie Brown (Charles Shultz)
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
![[Wink]](wink.gif)
