SourceForge (LNUX) - Entire Company Parties in Chicago as LNUX Closes Near Liquidation Value
SourceForge CEO flies entire Company to Chicago Q3 September 25 for their tenth Anniversary
Patty Morris (CFO): "... Q3 (ending September 30th) sales and marketing expense will increase by $1.5-$1.7M..." (Chicago Party?)
"...Our whole company is at an offsite meeting today and tomorrow. We'll have some very interesting things to share with you in the near future!.." 2:13 PM Sep 24th from web
RT @thinkgeek: In true form, we're closing out stay in Chicago with a tower o' cake (incl. brain): (not Charm City) 9:23 AM Sep 25th from HootSuite..." Source: Twitter SourceForge .
While SourceForge parties with the shareholder assets to whom the Officers, Directors, and employees legally report to, this is the Management Team and the Board of Directors whom have negligently allowed SourceForge (NASDAQ:LNUX) to close near its liquidation value today (see Table I.)
SourceForge reports Q3 ending September 30 on November 4th after the closing bell at 5:00 PM ET after reporting increasing losses for Q2 ending June 30th.
/s/chaosUnplugged, Non-Insider Shareholder Value Activist
(Currently ranked #1 +201.64% on Motley Fool with Red Hat pick made 11/08)
Table I. LNUX Liquidation Value
Shares outstanding 60,000,000
*LNUX Liquidation Value $0.92** based on Stock Close $1.30 2009-October-16
**Note: This valuation is based on a value of $1,034,986 for ThinkGeek.com. ThinkGeek is currently at an annual run rate of ~$40M in revenues with impressive growth. If ThinkGeek were sold for only $24,000,000 which is absurd LNUX's liquidation value would be $1.30 or exactly what it closed at today, October 16, 2009...not to mention what ThinkGeek (NASDAQ:G33K) would be worth with an obvious IPO. Obvious to everyone except SourceForge management and its Board of Directors. It is obvious what needs to be done.
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