RE: xstThere is value in the systems, but the key is if the management will take advantage of that.
What I am now told is that the company worked with Veritas DGL of Calgary on a unique product development where Veritas specified the equipment and XS developed and built it. Veritas now has possession of the equipment, designs and software and is refusing to buy from XS or pay royalties. They have cancelled their purchase order that was supposed to be in the $750k range and according to one person will build their own systems.
I have followed this company since it was private, and I know the technology fairly well. I believe that if the x-employee I talked to told me the actual facts about the technology there could be a good outcome to this horror story. I also am told that the current management are chicken shirts and have no desire to do anything but wait.
The news release is not acurate, because it says they halted trading, and suspended operations, niether of which has happened. Nice display of competence. Looks like they are awaiting the outcome of the suit filed sometime last week and I guess that they are banking on Veritas settling.
It seems to me that if the product is that good they should be marketing it elsewhere?