In the wee hours of this morning, the CEO, Mr. Steve Samblis, posts a rather lengthily post on Investors Hangout, in what appeared to be an effort to explain the wait he has asked investors to endure. The problem is… there was nothing new in the post. Investors already knew the problems the company recently went through with the Collins incident. Yes, the post this morning was thoughtful and well written… but investors knew all of that. Where was the NEW news ???
He did add one paragraph towards the bottom of the post that briefly referenced the plans going forward, however, other than mentioning the new VU Television Network will be broadcast on “Galaxy 19″… there was no new news there either.
Mr. Samblis… thank you for the effort to further inform, however investors need NEW news, not information they already know. Our post last night was about missed opportunities for releasing news (and hope) about future plans… news that would give investors a reason to stay invested, news that showed company progress… news that showed company potential. Investors need NEW news !
AND… they are still waiting for an explanation on the appointment of the new company president. Your post this morning illustrated perfectly why investors are nervous about your appointment. They do not want to be sitting here a year from now, having been invested yet another year without a return on their investment, and watch a Collins type incident unfold all over again. It goes without saying that you have every confidence in your appointment, however, you had every confidence in Mr. Collins at one time also. Investors just want some solid verifiable evidence that your appointment’s issues are out in the open… and been resolved so that this distracting controversy doesn’t slow the progress of the company’s growth at some later date.
Please Mr. Samblis… PLEASE, release a formal press release about the Collins issue, how you resolved it, and the company’s current plans to move forward. You may think posting on the Hangout is equal to a public press release, but I would remind you that not all investors read and follow the Hangout. Go public…the longer you wait, the harder it will be to put the Collins incident behind you.