RE:RE:RE:New Press Release - Martello Reports Financial Results for the Second Quarter of the 2024 Fiscal YearI had invested even as high as 40 cents if I remember correctly. The former co-chair that had a hit with MJ convinced me that he had a good handle on things and spoke well during the interview that I saw. I counted on his success even recognizing that prior to that MJ success, his track record was not one of great accomplishments for shareholders of publicly traded companies. And that one hit is quite a dud now so everything was perfect timing including his departure from that at-the-time success.
So, I am not happy with any scenario that gives me no chance to recover a decent chunk. However, the way things are going, 15 cents seems like something that will be very difficult to achieve, and I don't think anyone would offer more than 3 cents for a 1.5 cent stock.
And when speaking of going private, I don't fully understand the mechanics, but I cannot see it happening where the person or group taking it does not think they are going to make money. So, one of my general fears of going private is that public suffers greatly, and if or when a turnaround comes, they don't benefit from it.
I expect someone like TM not to cut the rug underneath us. I believe he is wealthy enough that he doesn't need to bleed the folk who entrusted their hard earned money for augmenting his wealth. But I do hope that the new Board member has some valuable fresh perspectives of how to steer our current technologies into much more profitable ventures, either by marketing or tweaking them to open up more demanding markets.
I may be wrong, but I cannot understand how this was driven in so many directions in the last 6 years and the final outcome. I cannot understand how JP could actually muster the words in print to state how proud he is of his accomplishments with this company when the end result is a 90%+ or whatever loss for the shareholders. It speaks to the fact that he was out of touch with what he was hired to do and that was obvious before him leaving after 6 years. IMO there are others to blame for that and I hope that someone like Paul can fill those gaps.
In any case, at this valuation, there is no point of selling, when you cannot even use the tax loss depending on the account you are holding this .... in.