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gnulaw (54.17)

(NASDAQ:GKNT) A Geek Tragedy.

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December 27, 2011 – Comments (6) | RELATED TICKERS: GKNT , BBY , AMZN

(NASDAQ:GKNT) A Geek Tragedy.

Yesterday, December 26th, TUAW released an article across the internet including twitter entitled "New iPhone? Try these must-have free apps".

One of the Apps featured (and available on iTunes) is Zite "...Zite is a free personalized magazine for your iPad that automatically learns what you like and gets smarter every time you use it. Zite delivers all the great news, articles, blogs, and videos you want – and helps you discover new stuff that you'll love..."

On November 16, 2010 Geeknet essentially announced the same product with its own recommendation engine  "...A Recommendation Engine That Tailors News to Individuals..." and was also was also covered here [7.] on Motley Fool on November 20, 2010.  So, what happened to Feedery? The same thing that happened to Slashdot, SourceForge, Linux.com, Ohloh, Geek.com...[1,2,3,4,5,6,7,8,9,10].

Geeknet...the face of shareholder value destruction...the eternal Harvard Case Study...first at much but no clue how to monetize anything...while giving away Linux.com and sold Geek.com and ohloh.net at losses in less than one year after their respective acquisitions and gave multimillion dollar bonuses to employees begging them to work at GKNT and not based on performance ($ v. passion) and as we have said repeatedly Geeknet is committed to profitable growth[2.]...really.

Perhaps one of ThinkGeek's founders put is best in his [public] tweet:

(@Fraize)
10/1/10 5:52 PM I adore going back in time, reading GKNT stock watcher's "predictions" and laughing at how totally absurdly wrong they were. © 2010, 2011 Twitter



References: (Note: All below references include all comments associated with the below blogs)

1.  (Nov 15, 2011(NASDAQ:GKNT) Q3 Ending Sep 30: Fellini Satyricon meets Barbarians at the Gate.

2.  (Aug 05, 2011) Geeknet (NASDAQ:GKNT) Q2 Conference Call For Period Ending 30 June 2011

3.  (Aug 02, 2011)  Geeknet (GKNT) - Q2 Ending June 30 Out Wed Aug 3. Langone Must Deliver Profitability(.)

4.  (July 24, 2011) [UPDATE1] (NASDAQ:GKNT) Money For Nothing? On a Visionary and Passionate Management Team and Corporate Culture


5.  (Jan 16, 2011) "Gee Whiz Beav, I'm feeling really swell about 2011". "That's great Wally, here's a $2 million bonus!". GKNT Shares Tumble as Non-insider Shareholders Have Many Questions.


6.  (Jan 08, 2011) Geeknet GKNT still not public with Geek.com divestiture to Ziff-Davis (1/2/11) GKNT Board of Directors Awarded $499,775.44* in Bonuses (1/3/11) not based on performance / GKNT earnings.


7.  (Nov 20, 2010) [Update1] Geeknet's GKNT Feedery.com - A Recommendation Engine That Tailors News To Individuals - Is it real or is it Fossfor.us?


8.  (Oct 16, 2010)  [Update2] Geeknet (GKNT) Announces Sale of Ohloh.net to Black Duck Software. What's Next for SourceForge.net and Slashdot.org?

9.  (Oct 02, 2010)   [Update3] Geeknet Disrupt - 9/30 GKNT 52/133 Week High: In Perspective - 31 Months Ago 13D Hedge Fund Shareholder Put Pressure On Geeknet (GKNT) Board Demanding to Unlock Value.

10. (Apr 23, 2010)  Is SourceForge nka Geeknet (LNUX) About to Blow it a Second* (Third) Time in its Ten Year History? aka What happened to Slashdot?

6 Comments – Post Your Own

#1) On December 27, 2011 at 1:51 PM, gnulaw (54.17) wrote:

>>One of the Apps featured (and available on iTunes) is Zite

Zite is owned by Turner Broadcasting System, Inc. GKNTs Feedery.com had, at least, a one-year lead on Zite. An Internet life-time. And did nothing...only issued a press-release. This could represent a great ThinkGeek invented-here T-Shirt

I killed myself developing a killer iPhone App at Geeknet but all I got was this lousy t-shirt

FTW meh...

 

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#2) On December 28, 2011 at 11:21 AM, gnulaw (54.17) wrote:

>>References: (Note: All below references include all comments associated with the below blogs)

 

(May 12, 2011) [Update1] Did Geeknet Directors Plunder Geeknet as Geeknet reported Q4 2010 and Q1 2011 Continuing Losses?

(Apr 08, 2011) Post Traumatic Grasso Syndrome? Langone Awards $345,000 to Recently Elected GKNT Directors Exercisable in 30 Days at $0.

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#3) On January 06, 2012 at 7:50 PM, gnulaw (54.17) wrote:

AS A MATTER OF RECORD GKNT Board [1] awards insiders 30,628 shares at $0.00/share representing $539,972 based on Jan 3 (transaction date) closing price of $17.63 [2] amidst continuing lossed and during the Company's closed trading window. GKNT Board of Directors waited until closing bell on a Friday (January 6th) [3] to file.

[1]. investors . geek . net / directors . cfm

[2]. finance . yahoo . com / q / hp?s=GKNT+Historical+Prices

[3]. nasdaq . com / symbol / gknt / sec-filings 

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#4) On January 13, 2012 at 5:21 PM, gnulaw (54.17) wrote:

Geek.net The Picture of Dorian Gray.

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#5) On February 11, 2012 at 11:17 AM, gnulaw (54.17) wrote:

(NASDAQ:GKNT) Chief Revenue Officer     abruptly resigns    six days before releasing q4 ending December 31 2011 numbers .

Q4 numbers to be released on Valentine's Day 2012*. On Valentine's Day 2008 Hedge Fund Manager sent demand letter to GKNT Board of Directors to unlock value  when stock closed at $1.78 (pre 1:10 reverse split) or $17.80 adjusted. Stock closed at 17.68 Friday February 10th 2012. Do the math...

* What's the significance? 1:27/3:15 

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#6) On February 13, 2012 at 8:51 PM, gnulaw (54.17) wrote:

Q4 ending December 31, 2011 tomorrow, Valentines Day. See above post re: Chief Revenue Officer's abrupt departure six days before tomorrow's conference call and here Point 2 main blog and (Comments 2-6) breaks down estimated q4 numbers. Remember short interest as of January 31st is 210,624 with 12.1 days to cover.

Also, of significance are Thinkgeek's alliances with Star Wars, Star Trek, Minecraft,  Dr. Who, Portal 2, in addition,  to its Electronic Guitar T-shirt alliance with Old Navy Q4 2011, 433,816 Twitter followers, 252,343 Facebook followers and 53M monthly unique visitors...

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