The stock ( PNCH ) has been trading sideways for almost 2-months now. Around the beginning of May the PPS was at .0026. This past Friday it closed at .0016. In our opinion, this is a very poor showing for a company getting ready to (re)launch into TV broadcasting. There have been many missed opportunities. One can only imagine where the PPS would be today had those opportunities been taken advantage of.
There have been some recent (mid to late June) press releases about new shows acquired, and also notice of a strategic affiliation announced, however those efforts failed to move the PPS north. Its been well over a week now with no new news. Also noticeably absent are any plans for general public notification of the impending launch of the new network, VU Television. We would have thought there would at least plans for some sort of awareness/launch party similar to what was done (the “UpFront” gala) held when VU Television owned the other broadcast company Punch TV. Events like these are not created in a week. There are venues to be reserved, catering to be contracted for, notices to go out so that attendees can reserve time on their schedules to attend, etc, etc, etc. Will the company wait till the last minute to throw something together haphazardly, or are they just keeping quiet about any plans. Of course there are actions to keep under wraps until the right time… however an awareness campaign or event such as a lunch party is not one of them.
There has also been some controversy of late. The CEO, Steven Samblis, published a photo on his Facebook page of what appeared to be him driving home in his car… a Bentley ! See it here. Now, as of this writing, the picture has been removed from the Facebook page, but is still available at the link above. Now, to be fair and balanced, there was never any comment from the CEO, Steven Samblis, that the car was his. In fact we could find no comments by him about the picture anywhere. However the caption read “Pulling up to the homestead for a brief interlude – at Casa Samblis Resort and Salon“.
The Bentley… its concerning, but there is not enough information to draw any conclusions, like… is it his, what’s the value based on year and condition, etc. Yahoo Autos has a Rolls Royce for 26k, so in this case a picture is no indication the CEO of a company investors are underwater on, is living high on the hog as they say. Having said that… we would sure like to know more details about the picture.
The picture could have been posted to cause controversy with the basher crew over on LieHub, this would be consistent with previous actions by the CEO in an attempt to increase traffic, and eyes, on the company. However, we feel the posting of this picture, and the absence of an explanation, was simply poor judgment. Although the action may have caused the intended controversy, it also created a huge red flag to underwater investors. If the Bentley is his, and is worth what Bentleys are customarily worth, it shows blatant disregard for investors who are currently losing money on investing in him, and his company. This picture needs an explanation !
The second piece of controversy was the CEO’s posting of information about a well known basher. The post we reference can be seen here. Overall, there seemed to be a negative reaction to the post by current investors, such as this one here. Some believe that while the information was an indication of the CEO’s efforts to combat the misinformation and outright lies being posted by this individual, they also believe that the CEO’s time would be better spent posting factual information in response to the many questions investors have about the company, and its plans moving forward. The CEO has not posted in quite a while, and the first time he does, its an attempt to incite more anger within the basher community. We, as well as the poster referenced above, feel that any attempts to silence the bashers simply increases their dedication to destroy the company, and maybe more importantly to the bashers, the man behind the company. The bashers over on LieHub are hard-core ! Nothing short of legal action will stop them. The best defense against them is to ignore them. They will not go away, but at least they will be forced to engage themselves, and by doing so, anyone visiting the LieHub site will see how no one pays any attention to them, i.e. rendering them ineffective.
Mr. CEO… you may want to rethink your efforts at creating controversy to promote your company. You may want to think about simply responding to investors questions in a straightforward manor, and with sincerity for the current losses they are experiencing under your leadership of the company. The truth will never let you down ! Sometimes taking responsibility for the truth is difficult, but earns you respect and loyalty like nothing else. This was a post about missed opportunities… have you seen any lately?