somewhat of a legal question here, and I know you guys arent lawyers but its something that i think needs brought up. For the people still waiting to hear about the shares deal, what happens if they somehow do pull off a miracle and ship devices before the end of September, but prior to offering you shares or doing anything to move that forward?
If they ship them and you accept it prior to getting shares, is that technically the conculsion of the original contract you signed (which included nothing about share offerings)? Couldnt they then just not offer shares and claim the original contractual obligations were met? I understand that offering shares in a company is something that takes months worth of time, but their lack of transparency in this endevour makes me think they are just trying to bide their time. They could at least be releasing a road map, timeline, companies they are working with for audits, etc.
I'm not holding out for the shares, but i know there are people who are and this could be another way alpha sticks it to their customers.
well, that's unclear.
As you indicate, I'm not a lawyer, but I think it can be seen both ways. two lawyers on opposite sides of the table could argue either side, I think.
they have made the promise to offer shares, so could someone push it? I suppose.
How much would it cost to litigate that and is it worth it? what will the shares be worth? next to nothing is my guess, although I don't know and we won't until, and if, Alpha puts out the value of the company. normally this would be SOP when issuing a prospectus, but I personally think Mubasher is a moron that is too clever by half and simply doesn't realize he's not as smart or clever as he thinks he is, so he will try to get by without offering solid information and leave himself enough wiggle room to screw people even if they do receive stock.
I also think this is unlikely to even get that far. I wouldn't assume it will be case and therefore base a decision on what may be if some best case scenario unfolds and this miraculously works out. Base your decision on the facts you have now.
What we do know is that this team looks shaky. Inside people have been jumping off the ship instead of onto it. If they thought the company was worth staying with, I think they'd have stayed with it. They had much more to gain than any of us and bailed while distancing themselves as much as possible.
Ask yourself if you would buy shares in this company, as that's the real question to ask. I know I wouldn't on a dare.
IMO, they're outgunned in their market talent-wise, their launch is in the toilet, their miners are losers before they ship, their name is trashed in the marketplace, GAW and KNC have left them in the dust. the bleeding will continue with respect to refunds to people via credit cards or the court system and the legal bills will start to pile up with no new source of revenue to offset any of it. So, I think they're dead already, but maybe just don't know it.
They're accountants, and I'd love to see the cash flow statement right now, accounting for some of this and projecting out 6 months or so. it's gotten pretty quiet over there and I have no doubt they've run their scenarios and I doubt it's looking particularly good. From a valuation perspective I think their value as a business is likely falling like a rock as we speak.
people are better off, IMO, in pulling out all the stops to get their money back now. that fight looks easier to me than litigating stock options, even if you have to take it to the court system to get your refund.
so, if there are people holding out for shares, they might want to rethink that. Just my opinion, of course.
