$0.30
0.04 (+11.67%)
Single Touch Systems Inc. (NASDAQOTCBB:SITO.OB)
CAPS Rating:
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This stock is dead as soon as original investors are allowed to sell this summer. No revenue to support price. Cannot exist without raising substantial amount of cash.
Founder Tony Macaluso cannot afford to insert cash to protect his majority position.
What do you know about the the original investors having to wait until this summer to sell? How do you know whether Tony can afford to put in extra cash? Curious - because I am an original investor and just sold some of it last week. Do you expect the price to go up any when the "original investors" are allowed to sell?
Original investors think they can get out as of July 24, 2009. There may be a little more legal wrangling before they are able to sell.
If you are an original investor, I do not know how you sold. Everyone else is tied up.
Tony Macaluso is going through an expensive California divorce. He also has some very large losses on expensive for sale real estate in Rancho Santa Fe. His ability to raise cash is greatly diminished.
Since Sito stock is really worthless, he can no longer borrow against it.
How do you know so much about Tony and the company? Is your information available online somewhere? When the original investors begin to sell - do you feel the stock will go up? The company, patents, and concept seem sound to me. Why - with all of the top companies SITO is involved with - monsters like Wal-mart and AT&T - wouldn't they have a great chance of turning things around in a hurry?