RE: Sit and wait -- mguru
posted on
Mar 30, 2005 04:22PM
mguru:
Your passion is obvious, but not convincing as it relates specifically to EDIG. Let`s make a bet. I`ll bet you $100 that EDIG will not be mentioned on the April 10 Dateline program.
Comments:
1) Mr. Elgindy was convicted for securities violations, but EDIG was never mentioned in the court summaries and, as far as you know, EDIG stock had nothing to do with his convictions. If you post that this jackass shorted EDIG, and then that he was convicted, you imply EDIG may have been ivolved. You failed to mention this and I will assume it was an oversight and not your attempt to scare someone.
2) If EDIG or any company is to remain an ongoing concern, they must generate revenue and create profit in a reasonable amount of time. The speculating investor -- that would be you and I as owners of EDIG -- must decide what amount of time works for their investment. How would a naked short position hurt a profitable company with increasing revs? At worst, the problem would be short term. Profitable companies have a way of hangin` around.
3) All, as in 100%, of the companies you can name where naked shorts were used and discovered were not profitable venture as in none, notta, zip, zero, nocha, darn penny. In fact, many had very little revenue with tons of R & D expense & HUGE fixed overhead dollars. No so with EDIG. A ~$250K burn rate for EDIG with their current reported revenue is a far cry from the tech flyer days.
4) Beside the fact that 1M shares and a few investors vs 166M shares and tons of investors (EDIG), Global Link certainly had problems, but their problems went WAY beyond naked shorts:
http://corplawcenter.bna.com/pic2/clb.nsf/id/BNAP-5L2TKB?OpenDocument&PrintVersion=Yes
So, I think I`ll stick my head in that sand pile. As I believe was posted earlier, if it could happen to EDIG -- and I doubt it -- you and I are unable to stop it in any way -- why stir this pot?
When you have completed your quest for the truth, please prove EDIG has naked short shares and let us know. Until then, enough already. I think you need to work with Ms. mguru on letting out some of that stress. Hmm...or maybe you just need to kick the cat or something (opps, there are cat people here, sorry).
John