Teachers didn't get paid today. Sahashi's word really means nothing now. The man cannot be believed. After his October 12 fax asking teachers to be a bit more patient until the 19th for their pay, Sahashi has failed to live up to his word. Sadly, the only person who seems to know what is going with Nova an its pay is Sahashi and he is nowhere to be found.
The issuing of new equity warrants and the promise of cash that would at least pay salaries looks to be a pipe dream with Nova's share price closing at 30 yen today.
Teachers have been patient with Sahashi and his faxes, and have done their best to gut the situation out, but this is perhaps the last straw. All the teachers want is their pay. Sadly, the brutal truth is that Nova has nothing: no cash, empty promises, no plan to restructure the company, no Sahashi, and no goodwill. This needs to end now. Nova needs to be put out of its misery, stat. METI, where are you?
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