....no...management has just proved to everyone in this quarter that all of the acquisitions in the last two years was to acquire revenue (not cash accretive) so that they could get there 20M performance shares....
Bottom line: the company has raised over $103M to date... spent ~$60M on a platform that is still not generating any cash....nobody knows what is going on... all we really know is that Bane & Joel have paid themselves over $12M each to date...and all of this was funded by money they raised at $4.00/share.... after the Disallowed tactics.... and that they expect people to 'trust' them.... after the latest 20M performance share shenanigans....I can't say that I do...
...so the quid pro quo is? Only Bane & Joel benefited from the last 3 years...out of substance over form perspective...
...and I am still waiting for that moment of enlightenment...
...my two cents...
GSW Price at posting:
81.0¢ Sentiment: Buy Disclosure: Held
