Now, the company trades on the pink sheets, rather than the OTCBB. Interestingly, the only thing that we have heard from the company since this summer, came in late September. They said the following in a late filing notice for their 10Q:
The Company anticipates reporting a net loss of undetermined amount for the quarter ended July 31, 2011, as compared to net income of $115,000 in the comparable period of 2010.
Generally, when companies make NT 10Q filings, it is because they will be a just few days late in making a filing. This has happened in the past with SEYE, but, generally, they got the filing out within a week or so. Now, it is approaching 4 months. In that amount of time, they would need to make ANOTHER quarterly filing! Without giving shareholders the information that they need to deduce the value of the company, how can one comfortably allocate capital in the direction of the company? Is management trying to suppress the stock price in an effort to take the company private? There are a lot of questions to be asked here.
Stuff like this gives me very little incentive to own the stock. It seems to me that if shareholders would step up to the plate and exercise their rights, that the owners of the company (and likely, the stock price) would be a lot better off. Interestingly enough, the company always touts how many consecutive quarters it has been profitable. With the streak snapped, that may have bruised some egos. That certainly seemed to be the case when they lost the Bebe license agreement. However, this is no excuse for not letting the owners of the business know the operating performance of their company.
Disclosure/Disclaimer: I have no financial position or interest in any regard, to any of the entities mentioned. This is not advice of any kind. Always do a ton of your own research before contemplating doing anything that I say, do, write, or so much as think about.