There must be some reason that is not clear to me why it was better to close mmWave rather than regroup and move forward and continue its operation. Can you please explain?<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:of... />
mmWave was insolvent and not savable.
*** WHY? IT WAS GENERATING NEARLY $20 MIL IN REV. SEEMS LIKE A VIABLE COMPANY TO ME. MANY COMPANIES WITH A LOT LESS SURVIVE JUST FINE.
COULD IT BE THAT YOU JUST DON'T WANT TO BE IN IT BECAUSE, AS YOU STATED, YOU DON'T UNDERSTAND IT?
According to the Jan. 2007 press release, mmWave was responsible for over $20 million revenue in 2006. If the <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:sm... />Vancouver expansion costs are excluded from mmWave profit/loss calculations would this $20 million of revenue been considered profitable?
I cannot comment on this question/statement as I was not involved with the company at that time.
*** YOU MAY NOT WANT TO COMMENT ON IT, BUT DOESN'T CHANGE, THE $20 MIL IN REV. WAS THERE. IT IS NOT PHATHOMABLE THAT A MEAR DELAY ELIMINATED ALL THE VALUE OF MMWAVE.
Why would WLSA sell the company for a meager $5mil for a company expected to earn $1M a year. (5x is less then half the market avg.)
The sale price is actually $7Million CAD which is 7x the net income.
** EVEN 7X IS A POOR OFFER AND YOU KNOW IT JOHN. THE AVERAGE IS MORE IN THE 10-15X RANGE.
LOOK AT IT FROM A P.E. RATIO. WLSA MAKES $1 MILLION INCOME / BY THE OUTSTANDING SHARES = OVER 3 CENTS A SHARE EARNINGS.
YOU YOURSELF IN 2005 STATED 10X P.E. IS LOW. SO WLSA SHOULD BE SOLD FOR AT LEAST 30 CENTS A SHARE. EVEN A FRIEND DISCOUNT OF 20-25 CENTS AT A MINIMUM. SALE PRICE OF $8-10 MIL US AND NO LESS
12 CENTS / SHARE IS UNEXCEPTABLE.
Simmond, the fact you posted this deal right after the conf. call shows you know this was in the works and you should not have been talking this company down. You took over this company when the stock was trading at 18 cents a share, but took an offer of 10-12 cent on a sale.?
We know your history Simmonds. You have pumped up many a company in your time and its not right you take Wlsa out at the knees and then sell it low. Where was the pump up? OH THAT IS RIGHT, you pump it up when you already own shares, if you want to buy you beat it down and get them cheap. At least that is how it appears.
