Since you are anonymous, I’m going to assume since you throw those financial terms around with the greatest of ease that you have a grasp of valution, but are just misguided. Book Value is going to be a moving target… and since they’ll be burning cash if they don’t get a better revenue generating plan together, that number will continue to sink.

Anyway, good luck with your new found bargain. I hope you get your shares transferred and shipped to you, so you can wallpaper your bathroom with what will eventually be worthless certificates unless they come up with some better strategic planning.

Bottom line – WPTE’s founders made a nice chunk of change after the IPO, as evidenced by the steady stream of Form 4′s in the $16-$20 range after the IPO – clearly demonstrates where the money was to be made in this deal. The insiders didn’t do anything wrong – that’s what you are SUPPOSED to do as an insider after an IPO. It was an exciting, up-and-coming product at that time, even though the fundamentals were shaky. But now WPTE is an aging, one-trick pony.

Good luck with your “value” at $0.85/share vs. $1.40 book.

I understand that no public company will EVER do it, but my point was that the noble thing to do here would be to wind up operations when current obligations expire and distribute the company’s net assets to shareholders, given the liquid nature of those assets and the fact that those assets represent a significant premium to the current share price. The company has one product that has decreasing demand yet increasing production costs, and they are selling that product for less and less each time they are forced to find a new distributor for it.

Instead, they will continue to burn through cash until there is none left, effectively screwing the shareholders out of the small consolation that they would receive if WPTE did the “right” thing. Unfortunately, the outfit is too small for a “Shareholder Value” advocate to jump on board and start pushing the issue.

Regarding revenues – From WPTE’s latest 10-Q…”Revenues decreased by $2.2 million, primarily as a result of a decrease in domestic television license fees, which is due to lower per episode license fees under the GSN agreement in effect during the 2008 period, as compared to the Travel Channel agreement which was in effect during the 2007 period.”

Do you think that FSN is paying MORE than GSN did? I can’t find the terms of the FSN deal, but it’s doubtful. And if FSN was paying more than GSN, don’t you think WPTE would publicize that effect as some hope for good news?

Oh yeah, but let’s not forget those sponsorship revenues…I’m sure the deal with Blue Diamond Almonds will make a HUGE difference.

Q3 2008 revenues are projected in the range of $2.2-$2.6 million, compared to $4.4 million for Q3 2007. Sounds like a decrease to me.

“liquidate and pay off the shareholders before the cash is gone too.” Do you know how the market works, son?

A reverse split doesn’t work here, I don’t think. Total market cap may be lowered and stock may not fit parameters of institutional buyers, thus reducing the liquidity of the stock. And now with less shares outstanding, the volatility goes up. Stock is now marginable and short sellers are all over it since company can’t control its admin expenses. Revenues are not falling, company’s only been publicly trading for 5 yrs. Good news is no LT debt, book value is $1.40, which makes the stock a good value here.

I’m surprise at u, Al, I know u are a financial expert too.

Seems like the company has significant liquid assets/investments – liquidate and pay off the shareholders before the cash is gone too.

They would be smart to do the reverse split to maintain their listing b/c if they go by way of pink sheets… it makes raising capital even harder in an already constrained environment.

I’d take my odds at the 2/5 NL table vs. buying stock in WPTE At its core, that is the issue Their potential/current shareholders don’t like their odds

AA out

still, the future is as the future does … in the present tense, it’s gotta be a bit of a slap in the face to have NASDAQ say, hey, when it comes to American businesses, we’re not so sure you’re worthy of our agate.