Residential video telephony may be next big thing!


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The future with this type of thing is probably with Cisco Systems which is using big screens. Investing in Cisco and maybe Corning might very well be the best long-term way to go.

--Brant

I have the impression that I have not made myself clear to you.

You started by touting the OJO AND the stock when it was about 1.50/share. Now it is 13 cents/share and you no longer tout the stock. I respect your passion for the OJO, but it appears to be owned not by WGAT, except nominally, but by Cornell University. I'm sorry, but when it comes to investing I am absolutely ungiving. I will no longer comment on the OJO except its cost, but I will continue to comment on WGAT as long as you keep making these posts. I'll probably just refer to the stock price until WGAT is out of business and I'll still continue to comment on the fact that if you buy OJOs plus the service (one year at a time) that that could be as much as 800 dollars down the eventual drain. If this was worth a non-human damn, as opposed to the human you espouse, CISCO would have purchased the company some years ago. I'm sorry, yours is a gentle soul, but I live in the world of wolves. What is true, though, is the validity of your vision. The future is full of OJOs, but not your OJO. It is full of GIANT OJOs. WGAT will not be involved unless something really freaky happens.

--Brant

Edited by Brant Gaede
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I respect your passion for the OJO, but it appears to be owned not by WGAT, except nominally, but by Cornell University.

--Brant

Just to correct a misconception. WorldGate borrowed money from Cornell Capital Partners, LP not Cornell University.

The company is a public company owned primarily by its shareholders, the largest of which include the CEO who actually holds less shares than a private investor who has become a member of the WGAT Board of Directors.

Cornell is owed money and is primarily interested in getting its money back not in owning the company. Cornell has converted debentures to common shares and then sold the shares to redeem the money it loaned to WorldGate.

Typically companies repay their debts when they can out of revenue and private placements often by directors of the company once they become profitable. We expect such an action in the near future.

I use my Ojo daily and love it. I use it with no inclination to utilize my iMacs iSight or iChat which is at my fingertips but involves my computer. I prefer to use my telephone, my video telephone which stands near my computer but is distinct and its use does not interfere with use of the computer.

Reality will show.

galt

Edited by galtgulch
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  • 2 weeks later...

I did not attend the shareholders meeting last week at company headquarters but I have spoken with three fellow shareholders who did.

One tidbit is that a major telecommunications company did issue a letter of intent to purchase a large number of Ojos. As with all such letters of intent there are usually conditions upon which the exercise of the order depends and therefore there are reasons why they don't necessarily ever happen. Presumably this letter of intent has been put on hold or shelved for two years and we are not told the start date.

The mere fact that such a letter of intent was ever issued speaks to the value of the Ojo assuming that it is indeed appealing to a major player. Perhaps the day will come when such a large order does manifest itself. Just not yet.

At the official meeting it was said that there is indeed a risk of BK but off the record there were assurances that that will simply not happen. Too many involved will not allow it to happen. I find this comforting.

There is a new version of the Shadow Ojo in the works. A new version which contains the latest less expensive Da Vinci model of the Texas Instruments digital processing unit will be launched. It is not known just what features it will have.

A version which will have a split screen so that four callers can be seen on the screen at once, is in the works as well.

Additional shares numbering 200M was authorized. That will enable institutions to take positions once the company is profitable.

There are dozens of deals in the works around the world. There are orders of a small magnitude in as many as 67 or 68 countries around the world for the Ojo.

It is evident that management has finally realized that this will take longer to be successful than originally believed. Consequently there have been major cost cutting approaches put in place and being considered to cut expenses even further. Likewise we will not hear the kind of optimistic prognostications voiced in the early days. Instead there will be silence between quarterly statements of facts.

Best of all is that there is indeed officially a second follow up order from SNAP for Ojos!

galt

Edited by galtgulch
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The stock closed at 14 cents, up a penny. Is 200m shares 200 million? There are 52 million extant now.

--Brant

Brant,

I can't imagine that you are following this stock the way i am. For no discernible reason she closed up 23% today to close at 16 cents on volume far exceeding the daily average. No idea how come that happened.

At least one of us, us meaning an investor who is convinced that this will succeed and the Ojo will be widely owned in time, believes that British Telecomm is setting up a network which would automatically enable interoperability between video telephones!

We might have to wait until the middle of March to learn the 4th quarter revenue numbers. Who knows what will sustain the price of the stock in the meantime? May yet retest the low of 11 cents.

I understand that at the recent shareholder meeting we learned that there is a second order from SNAP. Also that a telecommunications company in of all places Pakistan is on the verge of ordering a large quantity of, you guessed it, Ojos.

Lots of deals in the works supposedly.

I do not consider Objectivism to be a lost cause and continue to recommend Atlas when the opportunity arises. Likewise I think the Ojo has great promise. In addition the Ron Paul campaign is exciting and just might capture the imagination of enough level headed voters to win the nomination and go on to win the election. Wouldn't that be a thrill!

galt

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  • 4 weeks later...

Dear friends it has been awhile since I have posted on this Ojo thing. Well tonight it came to my attention that Nokia has demonstrated two way voice and video between a PC operating Nokia software and the Ojo video telephone.

This conceivably could be the long awaited key or turning point we have all been waiting for which might lead to increased sales of the Ojo.

Here is the link:

The stock of the creator of the Ojo, WGAT, is selling at between 15 and 21 cents a share and I believe it closed on Friday at 17 cents a share.

Might be last chance to get in at bargain sub basement price. But I am just joking. The company is in serious danger of going belly up with virtually no cash on hand, only known orders from SNAP with no firm confirmation of a second order beyond the first which was for 10,000 phones now probably delivered to deaf community, no orders of any size from all the other "deals" and still in debt to Cornell Capital with risk of further dilution of shares, and little hope of additional financing. Risks of sinking abound. High risk. Danger. Hard hat area. Radiation danger. Well I don't know about that.

There, did I scare you away? Gold is about to reach new highs and break through resistance at $900. Why would anyone want to buy stock in the highly competitive telecommunications industry in an impudent startup which has virtually no money on hand, has cut workforce to the bone and there are two more months before the release of its 4th quarter revenue results?

We do know that the Ojo is WiMax compatible as well but no assurance that Motorola or Sprint or anyone else involved in the Wimax phenomenon worldwide is going to involve our little Ojo either.

So to answer your question, yes the Ojo can operate with Wimax, which is to say wirelessly, but that Ojo with the Wimax antennae is not yet on the market. Likewise the existing Ojo can communicate with PC or laptop which has the appropriate Nokia software on board.

While I have your attention consider listening to the John Stossel interviews with Ron Paul, a strict Constitutionalist, at:

whoisronpaul.name

www.ojophone.com

galt

Edited by galtgulch
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  • 1 month later...

I am prompted to bring your attention to the fact that although the ojo service was actually suspended for some unfathomable reason about a month ago that the ojo service has been brought back to life today.

During the downtime the stock dwindled down to below 5 cents with anemic volume. Those with audacity took advantage of this buying opportunity to load up. A friend of mine now has 800,000 shares and is optimistic! I have been content to hold my much smaller stake. Today the stock rose 74% to 12 cents a share on volume of over 1.3 million shares. No announcement from WorldGate but the 4th Quarter revenue report is due shortly.

I have rebooted my Ojo and was able to make video calls of unimaginably high quality video and audio quality to friends who live across the country. The future looks bright again.

Regarding the Ron Paul campaign I am sure the major media has misinformed you that McCain has become the presumptive winner with enough virtual delegates to clinch the nomination. But you should be aware that Ron Paul supporters are diligently continuing the endeavor to pass the torch as they have reason to believe he would be a better president who would address the root causes of the misguided foreign policies of interventionism which have led to the attacks on our country. He would also work to use the executive powers to restore the Constitutional limitations of government which have been ignored by politicians for decades. By bringing home troops from overseas enough savings would be realized to eliminate the Federal Income Tax with no need to replace it.

You may want to review his stands on various issues at www.ronpaul2008.com because Ron Paul might just be the Republican Party nominee.

He has particular appeal to seniors, youth, taxpayers, small business owners, homeschoolers, gun owners, waitresses and waiters, owners of small farms, non violent crime prisoners of the drug war, business owners who labor under Sarbanes Oxley and other regulations, etc.

Ron Paul is a man of integrity recently re elected to Congress for the eleventh term who has never voted for tax increases nor for programs not authorized by the Constitution. That is often enough to impress undecided voters that he is the kind of man they want to represent them at the highest level of government at a time when the country is off course and needs a man like him who knows the Constitution shows the proper way to go.

While I have your attention consider listening to the John Stossel interviews with Ron Paul, a strict Constitutionalist, at:

whoisronpaul.name

There is still hope and here is a musical hope anthem for the Ron Paul campaign:

http://www.youtube.com/watch?v=01kcqKd2Tag

SNAP issued an email to its customers today that the ojo service is back on at last:

www.snapvrs.com

www.ojophone.com

galt

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Here is a link to official data regarding VRS usage and payments to the VRS suppliers.

VRS means video relay service

notice SNAP listed as one of the providers in the last column

SNAP uses the Ojo and is continuing to distribute Ojos to its subscribers

NECA link>> http://www.neca.org/media/0208Januarydat...

So this stock remains in existence despite all predictions that it was defunct and on the verge of bankruptcy.

A release of 4th Q numbers due any day.

Regarding the other seemingly hopeless endeavor, the Ron Paul campaign, I received a phone call last night, late, from a fellow who identified himself as the state coordinator of the Ron Paul campaign. He asked if I were willing to become district coordinator and to call those on the donor list he would email to me. Keep in mind that this is happening in every state and every district in the country!

As I have some experience with lost causes, I figured I might as well add restoration of a Constitutional Republic to the list.

As a consequence you now have the opportunity to see your distant loved ones by buying and using an Ojo at each end for just $9.95 a month, thanks to WGAT, and you might just have the opportunity to vote for a less than ideal but better than all the rest candidate in the person of a newly re elected ten term Republican Congressman, Ron Paul, who has never voted for a tax increase nor for a program not authorized by the Constitution, in November!

If you want to join in the fun, its not too late. Become a precinct leader, more than one per precinct is allowed, at www.ronpaul2008.com

There will be a march on Washington D.C. June 21st and no doubt a showing at the Republican nominating convention in Minneapolis in September 1 to 4.

galt

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A release of 4th Q numbers due any day.

Regarding the other seemingly hopeless endeavor, the Ron Paul campaign, I received a phone call last night, late, from a fellow who identified himself as the state coordinator of the Ron Paul campaign. He asked if I were willing to become district coordinator and to call those on the donor list he would email to me. Keep in mind that this is happening in every state and every district in the country!

As I have some experience with lost causes, I figured I might as well add restoration of a Constitutional Republic to the list.

As a consequence you now have the opportunity to see your distant loved ones by buying and using an Ojo at each end for just $9.95 a month, thanks to WGAT, and you might just have the opportunity to vote for a less than ideal but better than all the rest candidate in the person of a newly re elected ten term Republican Congressman, Ron Paul, who has never voted for a tax increase nor for a program not authorized by the Constitution, in November!

Buy an Ojo! See your distant loved ones! Vote for Ron Paul delegates!

galt

First of all let me report that the Ojo service has been restored. For some reason probably having to do with a dispute between WGAT and SNAP the Ojo service had been turned off for over one month. This was disillusioning for Ojo owners and investors. The fact Ojo service is back on is reassuring. In the interim the stock price per share had plummeted to below ten cents. Some hardy holders of the stock not being able to believe that the end was in sight or that bankruptcy was how this story would end took advantage of the buying opportunity to add to their stake. I know one gentleman who bought 250,000 shares at seven cents and another who now owns in excess of 800,000 shares.

Since the Ojo service is now restored the stock price has risen from about five cents to eighteen cents. I spoke with one fellow to find out what gives these investors reason to be so hopeful of ultimate success and profitability in the future. Evidently it was revealed that there had been a deal, a contract, with AT&T for the purchase of 200,000 Ojo phones which was suspended but not canceled.

The implication of restoration of the Ojo service is that the company has resolved the dispute with SNAP. WGAT has also rewarded Ojo owners to make up for the loss of service by not requiring the monthly service fee through the end of May. This would also apply to new purchasers of the Ojo. Normal fee is $9.95 per month for UNLIMITED VIDEO CALL worldwide over broadband internet. Just plug in the Ojo into your router and a power source and it works! Using an Ethernet extender cable you can use the Ojo off any socket in your house as well. I know for I have done it.

On another topic. The Republican party has become aware, which in itself is a small wonder, that grassroots Ron Paul supporters are engaged in an endeavor to elect delegates to the nominating convention. They have infiltrated the official www.ronpaul2008.com and unofficial www.dailypaul.com message boards to eavesdrop on our doings. It is too late in many states where Ron Paul supporters have managed to get a significant percentage of the delegates by following the rules.

I report this because the prospect of either Hillary or Obama or McCain (http://tinyurl.com/3xydpd) should cause a cold sweat among Objectivists. The Libertarian Party will offer a good candidate as they have eight men and one woman vying for the nomination but if Ron Paul becomes the nominee of the Republican Party he will get the bulk of the Libertarian votes, otherwise an LP presidential candidate will do better than usual but will still be flattened by the major party steamroller. You see why it is so urgent that Ron Paul get the nomination. If any of you are registered as Republicans contact the Ron Paul grassroots organization in your state to see if you can help. Go to www.ronpaul2008.com and become a precinct leader which will put you in touch with the activities and activists.

galt

Edited by galtgulch
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Buy an Ojo! See your distant loved ones! Vote for Ron Paul delegates!

galt

I found a website where the two models of the Ojophone are available, pricebreak:

http://tinyurl.com/2gjsvf

The video service is back on and the quality of the picture and sound is superb! The service fee is waived until the end of May and then will be just $9.95 for UNLIMITED VIDEO CALLS WORLDWIDE...

Closing pps $0.15 on Friday.

galt

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  • 5 weeks later...

TREVOSE, Pa., Apr 21, 2008 (BUSINESS WIRE) -- WorldGate Communications, Inc. (WGAT), a leading provider of personal video phones, today announced it has scheduled a conference call on Tuesday April 22, 2008 at 8:30 AM Eastern time to discuss the status of the Company and its Ojo video phone and 2007 year end financial results. The conference call telephone number is 800-909-5202. The conference ID is 3655411. A replay of the conference call will be available for one week after the call on the WorldGate website at www.ojophone.com.

The Ojo video telephone is still the best video telephone on the market.

I will endeavor to keep you all informed of any enlightening information which might be revealed on the CC tomorrow.

I do not recommend that anyone here invest in this company. The risks are spelled out on the recent 10-K available under Other SEC documents at the Corporate section of the menu on www.ojophone.com

I do encourage anyone with loved ones who live at a distance to explore the Ojo product. When I travel I bring my Ojo with me. I can simply plug it into a router and I can make my video calls to friends from anywhere in the world. This product is a wonderful way to see the friends and loved ones who are at a distance or in other countries. Especially worth having as the price of gas makes travel and visits more expensive.

galt

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