From 12/15/2014 to 3/5/2015 scrc traded approx 30m shares over a 8 week span. The average vwap was approx .165 cents. Plenty opportunities for traders to do what they do instead of 'WHINE" take matters into your own hands. There was a week or 2 where we averaged 1m a day so clearly if you were whining at .17 to .20 there were many opportunities to take some inventory off the books IF you wanted to. Rather than do the blame game you had 40 to 50 sessions with liquidity rather than whining.
During this period the company was firing on all cylinders. Unfortunately on March 6th we lost CVS which hurt us from .17ish down to .11ish. Then when we expected the 10k on March 31st we saw 9m shares from .11 to .06 hit the tape on April 8th. There were some reflex rally's from .06 to .10 area. Then as the 10k dragged on people became more uncomfortable and thats very understandable due to the amount of time this has taken. Then along the way Tricare was lost for the industry due to the CNN segment that was running by a most distinquished General who had a profound impact on Tricare. I have no idea how much Tricare was in our portfolio but that certainly did not help matters in terms of perception.
Clearly management had to do something due to the loss of CVS and Tricare. So in q2 they put in new efficiencies to help the bottom line and hopefully soften the blow of lost business. As they said on the tape March 6th they were exploring other opportunities to help offset the loss of CVS.
What we need now is clarity and certainty meaning the 10k and the filings. Frankly, I never imagined this being .02 cents a share given how promising q3 of 2014 was showing net income of 1.5m and a little over a penny eps. The price is discouraging as the last 60 days without a 10k has caused lack of buying and any incremental selling has knocked the stock down dramatically. One would think the 10k being filed will help ease pressure. The company put out a pr on june 22nd stating they were in the final phase of their audit. Well here we are August 15th and with a new accounting firm. In reading the 8k that came out recently IT STATED FRIEDMAN ACKNOWLEDGED THAT THERE WAS NO WRONG DOING. PLEASE READ FOR YOURSELF.
Bottom Line: If the company executes and the 10k comes out this MAY BE LOOKED UPON AS A GREAT OPPORTUNITY AT THESE NADIR LEVELS. THE LAST PIECE INFO WE HAD WAS MAY/JUNE FOR 2.2M DOLLARS. WHAT THE BREAKDOWN IS NOONE CAN SAY. WE ALL LOOK FORWARD TO CLOSURE WITH THIS 10K AND FILINGS BEING COMPLIANT. Rather than whine and play the blame game speak to management and suss out things for yourself. Rather than talk about phone calls not returned or emails. It's your $$$$$$ and your responsibility to manage it noone else.
During this period the company was firing on all cylinders. Unfortunately on March 6th we lost CVS which hurt us from .17ish down to .11ish. Then when we expected the 10k on March 31st we saw 9m shares from .11 to .06 hit the tape on April 8th. There were some reflex rally's from .06 to .10 area. Then as the 10k dragged on people became more uncomfortable and thats very understandable due to the amount of time this has taken. Then along the way Tricare was lost for the industry due to the CNN segment that was running by a most distinquished General who had a profound impact on Tricare. I have no idea how much Tricare was in our portfolio but that certainly did not help matters in terms of perception.
Clearly management had to do something due to the loss of CVS and Tricare. So in q2 they put in new efficiencies to help the bottom line and hopefully soften the blow of lost business. As they said on the tape March 6th they were exploring other opportunities to help offset the loss of CVS.
What we need now is clarity and certainty meaning the 10k and the filings. Frankly, I never imagined this being .02 cents a share given how promising q3 of 2014 was showing net income of 1.5m and a little over a penny eps. The price is discouraging as the last 60 days without a 10k has caused lack of buying and any incremental selling has knocked the stock down dramatically. One would think the 10k being filed will help ease pressure. The company put out a pr on june 22nd stating they were in the final phase of their audit. Well here we are August 15th and with a new accounting firm. In reading the 8k that came out recently IT STATED FRIEDMAN ACKNOWLEDGED THAT THERE WAS NO WRONG DOING. PLEASE READ FOR YOURSELF.
Bottom Line: If the company executes and the 10k comes out this MAY BE LOOKED UPON AS A GREAT OPPORTUNITY AT THESE NADIR LEVELS. THE LAST PIECE INFO WE HAD WAS MAY/JUNE FOR 2.2M DOLLARS. WHAT THE BREAKDOWN IS NOONE CAN SAY. WE ALL LOOK FORWARD TO CLOSURE WITH THIS 10K AND FILINGS BEING COMPLIANT. Rather than whine and play the blame game speak to management and suss out things for yourself. Rather than talk about phone calls not returned or emails. It's your $$$$$$ and your responsibility to manage it noone else.
