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gnulaw (51.43)

SourceForge (LNUX) Website Promoting Jon Sobel as Current Group President Media as Shares Continue to Slide below 50-100-200 MA

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October 28, 2009 – Comments (6) | RELATED TICKERS: IBM , BBY , GKNT

SourceForge CEO Scott Kauffman is now incurring alleged SEC Rule 10b-5 violations (causation, reliance) with its latest main website theme "Unscrambling the Puzzle of Digital Marketing on the Modern Web". As of today, October 28th, the Company states: 

Per Web.SourceForge.com: An interactive discussion with three prominent thinkers about the modern web, peer production and user generated content. Jon Sobel, SourceForge, Inc., President, Media Business. Jon Sobel leads SourceForge, Inc.'s network of Internet properties. He previously served as Senior Vice President of Strategy and Business Development for CBS Interactive Media and as an executive officer of Yahoo! Inc., where he was General Counsel and Board Secretary...

Jon Sobel has not been with SourceForge since September 25th, eight days after this panel was held in New York, which I covered on this thread October 4th yet SourceForge is still maintaining Jon Sobel is the President of their Media business.

Equally troubling is Ross Turk's sarcastic outburst of laughter (2:48/5:11) as he interrupts Jon Sobel about how much the Open Source projects on SourceForge.net dislike advertising i.e. SourceForge.net's means of monetizing the site...increasing shareholder value. Source: New Advertising Video, SourceForge.net

This Company is completely out of control where [some] of its Board of Directors and most if its  Management team simply need to immediately be reigned in by FINRA, class action litigation, and dismissed for cause.

6 Comments – Post Your Own

#1) On October 28, 2009 at 7:53 PM, gnulaw (51.43) wrote:

Jon Sobel is General Counsel for Tesla Motors.

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#2) On October 28, 2009 at 9:34 PM, fmahnke (95.54) wrote:

I bought Lnux today at 1,20 as it seems to have cash, potential and insider buying,  Do you recommend selling ???

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#3) On October 29, 2009 at 6:07 PM, gnulaw (51.43) wrote:

No. Given you own it the best I can do is to suggest holding it. If I wanted to purchase LNUX shares I would probably acquire 50% of the amount I desired now and 50% after their Nov 4th earnings release. If it is disastrous you would, at least, have those dollars available or be in a position to purchase more at a considerably lower price. The fact the current CEO is non-insider shareholder hostile, in addition to the above, these are smoking guns one simply must take into account. This Company has superior assets but the management team is very weak. The CEO has no credibility which explains why SourceForge lost at least two analysts following them this past year. They are down to two (http://finance.yahoo.com/q/ae?s=LNUX)

 

Scott Kauffman has never managed a publicly-held Company and it is painfully obvious. Stay tuned to this thread and SourceForge News (http://www.topix.com/com/sourceforge) .

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#4) On November 01, 2009 at 12:35 PM, gnulaw (51.43) wrote:

SourceForge (LNUX) continues to blow through its 50-100-200 day MA. Earnings conference call is in three days, November 4th, after the closing bell...

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#5) On November 26, 2009 at 10:11 AM, gnulaw (51.43) wrote:

Note: chaosUnplugged successfully forces Geeknet to change their website copy on Jon Sobel from 

Jon Sobel, SourceForge, Inc., President, Media Business  to

 

Geeknet, Inc., Former President, Media Business. Source: http://geek.net/nycpanel/ 

 

 

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#6) On December 24, 2009 at 10:22 AM, gnulaw (51.43) wrote:

>>Equally troubling is Ross Turk's sarcastic outburst of laughter (2:48/5:11) as he interrupts Jon Sobel about how much the Open Source projects on SourceForge.net dislike advertising i.e. SourceForge.net's means of monetizing the site...increasing shareholder value. Source: New Advertising Video, SourceForge.net.   

 

It appears Ross Turk was informed of his layoff the same day this post was submitted to Motley Fool. Ref/ http://caps.fool.com/Blogs/ViewPost.aspx?bpid=316469&t=01005232244381733972 

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