Tech Bull,
First, let me say that a joint venture between SGS Thomson and ISSM might have been a good fit providing ISSM had enough resources to fulfill their end of the deal. That means operating capital to produce diodes for SGS Thomson to process, package and market (or consume internally.) However, it is obvious ISSM is broke with few alternatives to raise capital. As a consequence, they have continued to dump shares on the market in spite of the stock price being very weak. (According to Nicole's last Q&A list, they sold 1 million shares to raise $250,000 in early April.) No operating capital means no product will be produced for testing or for sale, and of course, no joint venture with anyone. Situations that will give ISSM revenue but won't require them to use upfront capital to produce anything might work out. But, they still lack an enduser for their product.
Personally, I have lost confidence in the management of ISSM. I doubt that this company could ever succeed with this management team in spite of the promise of the product and the process. I think, the best thing that could happen for the current stockholders is for ISSM to sell the company; all of it, lock, stock and barrell, to a viable producer of GaS products. Obviously, the current team has bungled the job badly.
Btw, I sold half of my shares today for a substantial loss. Still wondering why I need the other half.
Regards,
Darrell |
