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(NASDAQ:GKNT) On Corporate Governance, Disclosure, and Transparency

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July 24, 2011 – Comments (0) | RELATED TICKERS: GKNT , AMZN , IBM

 

(NASDAQ:GKNT) - Money for Nothing ? [2.] On Corporate Governance, Disclosure, and Transparency.

The responsibility of the Geeknet Board of Directors, insiders, senior officers, and controllng shareholders is to maximize [non-insider and insider] shareholder value while implementing a superior corporate governance policy, including but not limited to full/public disclosure pursuant to SEC Rule 10b-5, State and Federal Securities statutes, etc. That being said, three questions for GKNT Senior Officers, Insiders, Board of Directors, and controlling shareholders:

1.  Why hasn't / isn't Geeknet providing any evidence of its iCade reviews successes as broken and covered here, here and here? Nothing. And why did Geeknet wait until June 27th to formally/publicly disclose the iCade when we broke it here on January 7th?  These continuing patterns simply convey a management devoid of vision, passion, confidence to their non-insider shareholders, stakeholders and public, in general.

2.   Why are the stats Geeknet is fully/publicly disclosing as of this writing, July 24, 2011 from November 2010? Legally and AS A MATTER OF RECORD all (NASDAQ:GKNT) shares purchased since November 2010 have been purchased in reliance upon said November 2010 representations.

About SourceForge

Statistics 42 Million Unique Visitors per Month
129 Million Page Views per Month
2.9 Million Downloads per Day
Source: Google Analytics, Server Logs - (Nov '10)

Source: Geeknet, July 24, 2011


About Slashdot

Statistics 7.8 Million Unique Visitors per Month
38.5 Million Page Views per Month
6 Thousand Comments per Day
Source: Google Analytics, Server Logs - (Nov '10)
Source: Geeknet, July 24, 2011

3. What is going on with SourceForge.net specifically, and the Geeknet Media Division, in general? What effect has slashing R&D played on appropriately monetizing Geeknet Media? [1.]

The bottom-line and at the end of the day (NASDAQ:GKNT) is still not profitable.  Kenneth Langone and his partners have been here now for, at least, one year, as of this writing. Q2 numbers ending June 30, 2011 to be reported August 3rd at 11:00 AM PT.

References:

[1.]  (March 25, 2011)  [Update2] Geeknet Media Division Amber Alert. GKNT President, CEO Media and GKNT Director (SVP SAY Media) [Abruptly] Announce Resignations

[2.] (January 16, 2011Money for Nothing. "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.

 

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