I normally don't respond to personal comments as I believe they are counter productive and don't add value but I believe in this instance I want to set the record straight. In the future I will only respond to discussions about UNS and you are welcome to believe what you like. It is most unfortunate that you either have a poor recollection or have not bothered to read the whole thread.
I only write on UNS on HotCopper (UNIS in the US) and I have only written 24 posts so it won't be difficult to ascertain my history, so I suggest that if you want to get personal you, at least, get your facts correct. My facts include my being sold out of my UNIS shares by my broker while I was on margin and my repurchase of these shares & more; this is all part of my record. I have always believed in UNIS and since I am a relatively recent investor in UNIS I do not carry some of the baggage. On the other had I am not a blind follower as I call it like I see it. I have criticized UNIS's CFO in the past and continue to believe that UNIS's major weakness was not hiring a competent CFO earlier. I reserve judgement on the current and have said so in prior posts. I wish when he was asked whether there would be further dilution of stock he had answered more completely and here I quote from my prior post on, "Disappointed the CFO did not have the wisdom or faith":
"I didn't respect Pryor while he was acting CFO and am withholding judgement on the new one, Hastings, although his response to the cash burn while truthful was incomplete. We do not know whether or not UNIS (UNS) will actually have to go to the market for additional capital infusion. I wanted to hear him say, that with the last round of financing and the deals in process we are confident that we will not need additional external financing. Unfortunately, I did not hear that, nor did the market, and the stock reacted adversely. The good news for me is that I took this opportunity to buy more at what I consider cheap prices, unfortunately a lot of weak hands also sold because they reacted to the news as opposed to doing their own due diligence."
I believe UNIS's stock price is languishing because of the mistakes made in the financial arena. A competent CFO would not have left loose ends hanging but he would have reassured the investors and analysts that UNIS had everything under control. You cannot keep going to the market and continue diluting the company on a regular basis as you effectively kill investor confidence and I believe Hasting missed an opportunity. On the other hand if the last equity round was insufficient to meet the foreseeable needs then I have to question his competence and ask why didn't they raise more money in the last refinancing so he could have answered as above. There is no reason UNIS's stock price should be as low as it is, except for its inability to reassure the financial market, and for that the responsibility lies with the CFO.
The other sad fact is that AS has a checkered past and he has over promised and under delivered, given that history UNIS has to be a 'show me' story, we have heard enough promises; now it is time to deliver. I was glad that Pryor was replaced my Hastings; that was a good first step, I just wished Hasting hadn't dropped the ball as I attribute the recent price drop to him. After the Abvie announcement our stock price rose and it should have stayed there, it did not because of the above. I am not complaining as it enabled me to increase my position in UNIS at bargain prices but as an investor I would have been hugely disappointed with the price reaction if I didn't have funds to back up the truck. Unfortunately in this regard I am in a minority and I believe I was right in criticizing management even though I believe in the company. Well run companies do not constantly have to defend its stock price or its movements, nor do well run companies see the price variations that UNIS has seen
I am perfectly willing to be criticized for the content of my posts but I believe it is abominable to distort the facts to try and make a point. Shallow analysis is the reason most investors lose money in the market.
UNS Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
