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AndyG

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Reply with quote  #1 
Well, I listed to the Audio and have a few observations.

Joe Martinec's comment about CM was an understatement to say the least:

"significantly less than entirely trustworthy" 


Dan Bensimon's plan is to try to get some cash flow to fund the additional development of the Nucleo SW to beef up the internal controls aspect of the system.  This is what is lacking in the current version.  This would also be an attempt to address the 'stigma' attached to the current product and how inventory could easily be stolen. 

Bensimon says he has two letters of intent from potential customers. 


CM and family are currently residing in Auburn, AL, where more than one child attends school.  His wife has a teaching job there. 

Again, this is just what I took away from one listening session. 


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robertmbeard

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Reply with quote  #2 
And the main potential customer, as of the August 25 meeting, did not know that they were dealing with a company now in Chapter 11 bankruptcy.  When they find out, as Bensimon admits, the deal may fall through, or their valuation of the stigmatized software may collapse...  Chapter 7 liquidation is the most likely scenario, especially by the January deadline for Proofs of Claim, when Bensimon, Martinec, and other lawyers will have exhausted all remaining liquid assets of Bullion Direct (no remaining meat to pick off the carcass...). 

Since it has been 1 month after the August 25 meeting audio recording, I would think there should be some news update about this by now...
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