Well it's now been a few weeks, and we still do not even have dates for the roadshow.
Is this another piece of Chandratillake vapourware, another example of him shooting his mouth off and delivering nothing (like the infamous "very close to break even" comment to Sir Martin Sorrell in Jan 2008)?
Because you can be sure of one thing: this roadshow, if it happens, is Blinkx management's last chance to save their sorry asses. Online video is exploding and Blinkx simply isn't growing as fast as the sector. Competition is all over the place - Babelgum, Joost, Hulu to name only a few - so what does Blinkx management do? Waste seven months tilting at windmills with Miva. And now they risk a PR firestorm for buying assets from Zango, reviled as a spyware/adware merchant. From where I'm standing it looks as though Blinkx management has lost the plot BIGTIME, and we've had no indication or news to indicate otherwise.
The share price is weak and trending weaker, there's no press, no news, no buzz. The company seems to be entirely moribund. And unless that situation changes - and very quickly - shareholders will be asking themselves what happened to the promise this company once exhibited.
If there is no improvement in the company's share price and newsflow after the roadshow (if it happens), I'll be writing to the company's major shareholders asking for their support to remove Chandratillake at the next AGM and replace him with a new CEO who can either focus obsessively on delivering shareholder value or else put the company up for sale to the highest bidder (will they listen to a small, disgruntled shareholder? No - but it will plant a seed...). There is no shortage of parties who would/should be interested in buying Blinkx - News Corp, MS, Google, Yahoo to name a few. Indeed, it is one of the curious features of the current situation that there have been no takeover approaches (yet) with the Blinkx share price at its current laughable levels.
Still, we can live in hope, eh?
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