riseNshine
8 years ago
April 14, 2016.
Since this positive statement made by burgess on April 14, 2016 2:00 PM ET. A concerted effort has been made to force down the share price. Days later paul increased debt by reporting a confession of judgement close to 3 million. The company stops reporting financials, The company stops holding conference calls after 9 years of doing so. Paul stops taking calls from shareholders. Paul continues to report the health of the company to select common and restricted shareholders.
It appears Paul is trying to strip the current investors from lattice before the full roll out of their new wireless platform for video visitation and CellMate mobile device. Investors, after waiting years for the product to be released are getting hosed.
If they are not going to screw investors, where is Paul now with the status of the company. Where are the financials? Why do they continue to issue shares at such a low share value if they are so close to profit?
Were shareholders misled on April 14, 2016?
riseNshine
8 years ago
Here's a quote from Paul Burgess on a Conference Call April 14, 2016 2:00 PM ET.
"Since we implemented our new sales and marketing strategy, we have been awarded a number of new contracts which we’ve begun implementing. Part of our key sales strategy is to increase the direct services portion of revenue to a level that brings the Company to profitability on recurring revenue alone, based on our current business model that requires Lattice to add an additional 2,700 inmates to our current platform. Based on revenue and gross margin projections, this brings the Company to EBITDA breakeven on recurring revenue alone. Adding in our technology revenue would bring the Company to profitability"
What went wrong? only direct service to 2,700 inmates needed?