PNCH up 10% today !
Yes, that’s right… the recovery continues. Today’s closing PPS of .0044 is getting real close to last Friday’s closing price of .0049. Looks like the stock will FULLY recover from the news on Friday.
A special note here… apparently there has been some more bizarre actions by Mr. Collins today by creating another Facebook page for PunchTV, and also changing the PunchTV website by removing any and all references about Steve Samblis, and IC Punch Media, Inc. Here is a statement Mr. Samblis posted on the OFFICIAL Facebook page:
“A NOTE TO OUR FANS… This is the only Official fan page for Punch TV. Recently in a continuation of ridiculous misguided actions a certain individual created a copy cat page of Punch TV. IC Punch Media, Inc. owns Punch TV and all of the assets of Punch TV and has since July of 2012.“
These actions by Mr. Collins appear to be harmful to the overall well being of the company. Mr. Collins, in a statement posted on the PunchTV website states:
“As a senior officer of the company, and Chairman of the Board, it is my duty to do everything within my power to protect the integrity of our company and our investors.”
Well… Mr. Collins actions regarding his disagreement with Mr. Samblis are certainly NOT protecting the integrity of the company. Mr. Collins should have taken actions in a court of law if he thought there were breaches of contracts, NOT publically caused embarrassment and distress on the company and/or shareholders. Maybe Mr. Collins has valid claims, maybe he doesn’t… but clearly his recent actions appear selfish and shortsighted, and clearly are designed to benefit only himself.
It’s a fair question to ask… given the recent actions by Mr. Collins… WHO would you want running the company, Mr. Samblis, or Mr. Collins? There likely is not enough information to intelligently answer this question yet, however based on the actions of the two men so far, we think the answer is clear… Mr. Samblis. Its a shame it has come to this, but it wouldn’t be the first time merged companies have these types of difficulties, and it certainly won’t be the last.
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