Same thing applies to Malone. Why wasn't the China
Post# of 3844
Posted On: 03/27/2014 11:37:20 AM
Same thing applies to Malone. Why wasn't the China issue discussed and agreed upon, at least conceptually, before the PR on a new, bigger, international accounting firm was released. Hell, even if they can't talk specifics with each other Malone could have certainly looked at public records, recent EWSI filings, and seen China business that needed to be handled. Apparently, Marty didn't do his DD as to whether they were on board on this issue, or thought he could convince them of how he wanted China handled. And I guess Malone didn't either. It just doesn't pass the smell test, I don't care what anyone says. This fuels my fear he may be moving too fast. No matter what the specifics behind it, losing an audit firm, especially one so recently engaged, is a huge red flag for new investors. And a black eye EWSI could ill afford at this point.
Look, Marty has brains and is executing a smart business plan (like any entrepreneur does) the success of which hinges on key milestones being hit when they have to be, certainly to hit 50% growth Q over Q for one example. One deal you wanted and planned for falls thru and the model is effected. One revenue stream you planned on by such and such a date doesn't materialize and you miss the mark, you have to dilute more than you expected to keep going. Or the PPS you planned on at this point is lower then needed so you again have to dilute more than planned to raise X amount of money you projected you'd need. How much room for error his plan has we will never know, but all I'm saying is that each misstep impacts the overall plan to some extent and contributes to its failure, not its success. OK, I'm talking entrepreneurship 101, nothing fancy. But the point is I'm concerned.
6 months ago we never thought we'd be here. I for one have a lot invested here and the human tendency is to absorb negatives, each in turn, and keep hoping. I've gotten to the point now with so many "disappointments" that I'm stepping back and seeing the trend, not each individual happening. And sharing my thoughts for validation. This is why I said if we all were looking for the first time we wouldn't buy today. And Investment firms won't either, and they're the real key to success. If there is to be success then being long is being longer than I thought. And then, of course, if we miss this needed filing, all bets are off.
Look, Marty has brains and is executing a smart business plan (like any entrepreneur does) the success of which hinges on key milestones being hit when they have to be, certainly to hit 50% growth Q over Q for one example. One deal you wanted and planned for falls thru and the model is effected. One revenue stream you planned on by such and such a date doesn't materialize and you miss the mark, you have to dilute more than you expected to keep going. Or the PPS you planned on at this point is lower then needed so you again have to dilute more than planned to raise X amount of money you projected you'd need. How much room for error his plan has we will never know, but all I'm saying is that each misstep impacts the overall plan to some extent and contributes to its failure, not its success. OK, I'm talking entrepreneurship 101, nothing fancy. But the point is I'm concerned.
6 months ago we never thought we'd be here. I for one have a lot invested here and the human tendency is to absorb negatives, each in turn, and keep hoping. I've gotten to the point now with so many "disappointments" that I'm stepping back and seeing the trend, not each individual happening. And sharing my thoughts for validation. This is why I said if we all were looking for the first time we wouldn't buy today. And Investment firms won't either, and they're the real key to success. If there is to be success then being long is being longer than I thought. And then, of course, if we miss this needed filing, all bets are off.
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