RE:My reasoningRob, yes I followed you here but that's ok, I don't point any fingers. Whatever happens, I accept personal responsbility. It is this way in all of life too.
Robsopinion wrote: I've been here quite a while also, just about 2 years. My initial buy in was at $.77. I have averaged down and am above water, but not really happy.
Reasons for the buy in:
I have worked with this company and its products for many years (20 plus?) They are by far the leader in the gift card segment, and I would guess that the majority of Canadians hold a card in their wallet with the Givex name on it.
I have worked with thier products on what you could call an employee level, and also a director level. Service has always been top notch, including from Kalex which they have purchased since going public.
Recurring revenue streams from both the gift card programs and the POS (Point Of Sale) contracts.
I love recurring revenue.
Concerns:
Computer hardware decreases in value very quickly.
Companies using the POS systems are most often the smaller chains, mom and pop operations, which are the most likely to go under in a slow economy.
They pay to promote the stock (here on stockhouse) and a company that needs to pay to promote its stock is always a bit concerning.
Don Gray. Flat out, Don Gray concerns me. He built a great company, and I have a lot of respect for that, but then he took it public. The company is not being lead as a public company, more like Don's personal fifedom. Peter Fowler (Sircorp), Matthew Corrin (Freshii) and many others have done this in the past, and they either learn from thier mistakes through shareholder intervention, or hand over the company in shambles. I'm hoping for some shareholder intervention here.
Flamingo: I believe you ended up here because of me I hope I didn't steer you wrong.
Givexfan: to be honest, I'm not really sure which side you are on.
Givex employees: you are in the "tech" business, you know that everything leaves a foot print. I see the constant creeping online. let me save you some time.
robt75673@gmail.com
Email me, lets chat, heck I can even meet you for a coffee or a beer?