Posted On: 05/21/2014 2:40:39 PM
Post# of 43066
Re: techisbest #8231
Don't forget that that SAIC Study was intended for a specific purpose, to provide a business case and pro forma for the Whale's investment. It was specifically for a 3-processor cluster in Florida. JBI went on to use the funds or continuing R&D and ongoing costs, which was a blatant misrepresentation.
It is fairly simple to extrapolate performance from a 3-day study. In fact, JB promised to do exactly that during the 2010 AGM. He stated that he would do a study (with a different firm, I think URS) and then use the results to prove profitability with the investment community.
SAIC is not the investment community. They have no interest in EBITDA.
This, plus the fantastic figures given in the Summary, make me question the validity of the document.
It is fairly simple to extrapolate performance from a 3-day study. In fact, JB promised to do exactly that during the 2010 AGM. He stated that he would do a study (with a different firm, I think URS) and then use the results to prove profitability with the investment community.
SAIC is not the investment community. They have no interest in EBITDA.
This, plus the fantastic figures given in the Summary, make me question the validity of the document.
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