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WRITE, CALL, EMAIL the company and express that they terminate the deal with Tack Furi, and pursue a buyback. Upon regaining credibility, even if that's in 2016, they can take this path of spinning off FL Mobile.
Whoever is making these ludicrous decisions, and not seeing beforehand that this would be problematic is clearly not thinking clearly or remotely aware of shareholder sentiment, and perception.
I call on everyone who has skin in the game to inundate this useless management team with your thoughts, in particular if you agree that a buyback is more appropriate than this spin-off at this time.
Before a spin-off should have taken place especially since they didn't really speak with shareholders for so long, a buyback was in order and expected.
Please do your part and write them:
Omar@nq.com
Vincent@nq.com
Matt@nq.com
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12-20-2014, 07:56 AM
(This post was last modified: 12-20-2014, 08:20 AM by Haggerston.)
(12-20-2014, 07:12 AM)BillNeuburger Wrote:
WRITE, CALL, EMAIL the company and express that they terminate the deal with Tack Furi, and pursue a buyback. Upon regaining credibility, even if that's in 2016, they can take this path of spinning off FL Mobile.
Whoever is making these ludicrous decisions, and not seeing beforehand that this would be problematic is clearly not thinking clearly or remotely aware of shareholder sentiment, and perception.
I call on everyone who has skin in the game to inundate this useless management team with your thoughts, in particular if you agree that a buyback is more appropriate than this spin-off at this time.
Before a spin-off should have taken place especially since they didn't really speak with shareholders for so long, a buyback was in order and expected.
Please do your part and write them:
Omar@nq.com
Vincent@nq.com
Matt@nq.com
Thanks Bill. I'll do the same. No other way to put it (yes we all are familiar with the excuses) they've been misleading investors. As in May when they said 20F was to come out in a matter of days...
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As mentioned by Omar in the call, they knew what investors want, but they chose not to listen to us. not sure whether Bison's minority stake requires them to list FL before next June or the mgmt is just finding execuse to not use their cash for buyback.
'BillNeuburger' pid='53467' datel Wrote:
WRITE, CALL, EMAIL the company and express that they terminate the deal with Tack Furi, and pursue a buyback. Upon regaining credibility, even if that's in 2016, they can take this path of spinning off FL Mobile.
Whoever is making these ludicrous decisions, and not seeing beforehand that this would be problematic is clearly not thinking clearly or remotely aware of shareholder sentiment, and perception.
I call on everyone who has skin in the game to inundate this useless management team with your thoughts, in particular if you agree that a buyback is more appropriate than this spin-off at this time.
Before a spin-off should have taken place especially since they didn't really speak with shareholders for so long, a buyback was in order and expected.
Please do your part and write them:
Omar@nq.com
Vincent@nq.com
Matt@nq.com
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Exactly, they are an egregious bunch of turds. "We know you want a large buyback, and we know you want it now, like we promised, instead we are going to waste a few more months with a questionable decision and stick it to shareholders."
They really are shameful, I thought i disliked Carson Block, and I still think he was wrong, but this management team and new board is filled with hypocracy and stupidity.
'avunculus' pid='53471' datel Wrote:
As mentioned by Omar in the call, they knew what investors want, but they chose not to listen to us. not sure whether Bison's minority stake requires them to list FL before next June or the mgmt is just finding execuse to not use their cash for buyback.
'BillNeuburger' pid='53467' datel Wrote:
WRITE, CALL, EMAIL the company and express that they terminate the deal with Tack Furi, and pursue a buyback. Upon regaining credibility, even if that's in 2016, they can take this path of spinning off FL Mobile.
Whoever is making these ludicrous decisions, and not seeing beforehand that this would be problematic is clearly not thinking clearly or remotely aware of shareholder sentiment, and perception.
I call on everyone who has skin in the game to inundate this useless management team with your thoughts, in particular if you agree that a buyback is more appropriate than this spin-off at this time.
Before a spin-off should have taken place especially since they didn't really speak with shareholders for so long, a buyback was in order and expected.
Please do your part and write them:
Omar@nq.com
Vincent@nq.com
Matt@nq.com
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Totally agree Bill, i wrote to Matt and Omar earlier today expressing the concern. Will email Vincent too.
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I should add that in your message to them be sure to say: (if you agree)
A BLOG ENTRY ON MONDAY explaining the flawed rationale, is unacceptable, it needs to be terminated at this time and a buyback needs to be enacted. Full stop, end of story. I suspect they are going to write some stupid blog explaining this and explaining that, that will only cause more of a sell-off.
There is a precedent for companies to listen to shareholders and change their decisions, it happens, and this time, it's irrefutable that all shareholders view the correct pathway forward through a comprehensive buyback, and then once they restore credibility they can do a spin-off. You all know a spin-off of this kind takes time, therefore we are dead in the water in a blackout period that will be over 1 yr when all is said and done. This management team needs to feel our wrath and needs to put an end to this stupidity once and for all!
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'BillNeuburger' pid='53476' dateline='<a href="tel:1419028 Wrote:I should add that in your message to them be sure to say: (if you agree) A BLOG ENTRY ON MONDAY explaining the flawed rationale, is unacceptable, it needs to be terminated at this time and a buyback needs to be enacted. Full stop, end of story. I suspect they are going to write some stupid blog explaining this and explaining that, that will only cause more of a sell-off. There is a precedent for companies to listen to shareholders and change their decisions, it happens, and this time, it's irrefutable that all shareholders view the correct pathway forward through a comprehensive buyback, and then once they restore credibility they can do a spin-off. You all know a spin-off of this kind takes time, therefore we are dead in the water in a blackout period that will be over 1 yr when all is said and done. This management team needs to feel our wrath and needs to put an end to this stupidity once and for all!
i emailed as well but I believe it is all for naught. Nq does not care about shareholder opinion/sentiment, obviously. They are keenly aware of it but don't care. i sold about 80% of my position today for a monumental loss. I will probably sell the last 20% in the next 2 weeks for an even bigger loss. My options are worthless.
I don't know what situation you guys are in but I suggest selling. At least scale down. The stock is most likely a permanent dog now and will go lower or stay low. What institute is going to buy a sub $5 stock that is about to go through a reverse merger with a clothing company with board members already linked to fraud. And no buy back. Are. You. Fucking. Kidding. Me?!?!? That was the ONE thing that HAD TO HAPPEN. An expanded buyback was REQUIRED to unlock shareholder value. Instead, to unlock shareholder value, we get a deal that prevents the buyback. My mind is boggled. And no guidance to boot. Jesus Christ.
In sum, Mgmt is terrible. Matt Mathison has a forked tongue and has fucked longs big time. I just switched a bucket list item from punching carson block in the face to punching matt Mathison in the face. He is a crook. Get out.
Happy holidays and and fuck nq!
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We will have our day in court if they don't change course by Monday! They are either partial frauds or just negligent in understanding the capital Markets. Considering their numbers weren't great I
think years ago they were and now they have cleaned up and they are negligent idiots.
Let's put it in perspective one last time: "we could have announced a large buyback" but they are unlocking value through the reverse merger... 1st.
1. If they bought back here(pre-unlocking) value and (pre- accelerating growth) the result in the longer term is obviously more beneficial. Than buying back stock when the stock has recovered either a little or substantially.
2. It's clear they have no interest in buying back stock and the question
Is why? Does mgmt not want to put up money?
3. They are essentially saying their stock is not a but right now by doing this.
No matter how it's spun it doesn't make sense to do this and as the stock has sucked and as the allegations have not subsided based on their negligence this "deal" needs to be canceled.
If not, one way or another they need to face the consequences for lying and building the expectations of buying back stock 48hrs after filing earnings. I will not rest until they face the music, because you can't just lie about it. In 4 months they'll have another excuse or they'll be delisted.
Are they planning on stealing the company and going private, hence want the cash?
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'BillNeuburger' pid='53479' datel Wrote:We will have our day in court if they don't change course by Monday! They are either partial frauds or just negligent in understanding the capital Markets. Considering their numbers weren't great I think years ago they were and now they have cleaned up and they are negligent idiots. Let's put it in perspective one last time: "we could have announced a large buyback" but they are unlocking value through the reverse merger... 1st. 1. If they bought back here(pre-unlocking) value and (pre- accelerating growth) the result in the longer term is obviously more beneficial. Than buying back stock when the stock has recovered either a little or substantially. 2. It's clear they have no interest in buying back stock and the question Is why? Does mgmt not want to put up money? 3. They are essentially saying their stock is not a but right now by doing this. No matter how it's spun it doesn't make sense to do this and as the stock has sucked and as the allegations have not subsided based on their negligence this "deal" needs to be canceled. If not, one way or another they need to face the consequences for lying and building the expectations of buying back stock 48hrs after filing earnings. I will not rest until they face the music, because you can't just lie about it. In 4 months they'll have another excuse or they'll be delisted. Are they planning on stealing the company and going private, hence want the cash?
You answered a lot of your own questions in your post Bill. Does NQ not management not want to buy its own stock? The answer is yes as evidenced by this deal; it gives them another out for not going through the buyback. And they weren't fully blacked out before the 20-F either, there was a window before the delinquencies that would have allowed them to buyback shares.
As for having your day in court, you have to realize this is a VIE structure where most assets are not in the VIE. Even if you win the lawsuit, you get a shell company without assets. NQ is most likely done imo.
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Kevin, this is about Omar and Matt, people have sat across from them and they lied to their faces, I know more than one person. This is about the buyback and the order of what they needed to do to restore credibility and trust.
Let's face it the FL Mobile spin-off was always likely to be this B.S. type of transaction as it's cost effective and in theory could reap the benefits they wanted. The current deal is riddled with things to make us skeptical, but a spin-off of this nature would have been more acceptable later in 2015 or 2016 once they worked through the business changes, re-accelerated earnings and revenues, and bought back a lot of stock management included.
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