SadAboutFRPTManagers

What's Behind Force Protection's Significant Share Price Drop?

Manny,

I completely agree. There has been no MRAP battle units more tried and true than those manufactured by Force Protection. Those are just the facts. Notably, I'm not aware that BAE or Navistar have received the first foreign orders, which - in my opinion, potentially bodes well for FRPT, especially since the UK will be ordering MRAPs through 2010.

What's Behind Force Protection's Significant Share Price Drop?

To say FRPT's performance over the past 3 months has been a dissapointment is an understatement, especially where its former CEO issued a letter to shareholders (on its web site) in early December 2007 trying assuring investors that the Company was really okay, that its customer base was actually broader than it seemed, and that the company was quite financially sound. Since then the stock price has tanked - - - now down to below $1.50.

What is all the more frustrating is that since the former CEO's December letter to shareholders, Force Protection hasn't uttered another word to its shareholders. Instead, all shareholders glean is an occassional quote from Aldrich in a Bloomberg or Street.com article, which presents Force Protection in a very dim light - putting it mildly.

If for no other reason, Force Protection as miserably failed its shareholders, not simply because the share price has suffered dramatically, but because it has completely failed to properly manage its financial house and because it has - despite recently hiring an IR consultant - completely failed to communicate with shareholders to provide some meaningful explanations regarding the current status of DoD orders, explanations for not diminishing DoD orders, and the staus of Roxboro, Cheetah, JLTV prototype submission, sales/marketing efforts abroad, etc.

Indeed, while Aldrich is out publically issuing statements to Bloomberg reporters, the Company has not bothered to issue a simple statement merely indicating it will vigorously defend the pending (class action) shareholder lawsuits. Gee, how wonderful it has been that FRPT hired that IR consulting firm.

Still, the company has much potential upside value and far-reaching global opportunities, but at the moment management seems intent on leaving its head stuck in the sand leaving the distinct impression that the company is floundering and gasping its last breath.