Others above have already expressed frustrations that I align with, regarding the lack of real-world knowledge that Borsky has in running a "start-up" company. His concentration on the fact that there were licenses for which ISX earned no profit is a perfect example. The fact that it might have expedited the integration is not a thought in Borsky's brain. Frankly, it wouldn't bother me in the least if it was purchased for the customer only for the revenue figure in meeting their bonus targets. Also, for Borsky to state on one hand that it was abnormal for the CEO to deal with the accounts department, on the other hand, he expects the ISX Chairman (Hart) to have detail knowledge of accounts, emails, detail revenue in the second half of 2018. Strange.
I have run a start-up IT company which in those days was an IBM business partner. We had end-of-year targets and definitely pushed to get those sales through in order to achieve the IBM targets. I can think of two companies that failed in the next few months after purchasing IBM 38s from my company - one which never even got the equipment installed. My company did nothing wrong and one would have to look at the companies that purchased the systems to understand why they bought systems when they were in such a financially weak position. And yes, as CEO of the company I did get directly involved with accounts to ensure invoices went out before the end of June.
Borsky is either naive or hopes that the judge is. Let's hope the judge is not.
SP1 Price at posting:
$1.07 Sentiment: Buy Disclosure: Held
