I cannot deny that I am skeptical of the DSIT backlog, but who knows, maybe it will actually turn into revenue one day...
I was lucky enough to acquire the exact position that I help previously for a substantial discount. Maybe one day I will be able to recoup the loses I received here previously. LOL
2) TAT Tech (TATT)
Net Cash Position: $27.98 million
Market Cap: $59.6 million
Net Cash to Market Cap: 46.9%
so we have an outside chance that the loan can get all the assets of acorn
if acfn can"t get it together
TAT Technologies Ltd., together with its subsidiaries, provides various products and services to the commercial and military aerospace, and defense industries worldwide.
Thanks for the info. This was to secure the loan from Leap Tide.
From Q2 Report.
The loan has a one-year term, is secured by all the assets of the company and bears an interest rate of 10% per annum. In addition, Leap Tide will receive 850,000 shares of common stock immediately and will be entitled to receive 179,167 shares of common stock per month until maturity or repayment of the loan. The use of proceeds is for working capital and $480,000 is allocated to reduce GridSense's outstanding debt with Square 1 Bank. Jan Loeb, General Partner of Leap Tide Capital Partners III will join the boards of Acorn Energy and DSIT. Mr. Loeb is the President of Leap Tide Capital Management, Inc., an investment management firm and a Director of TAT Technologies Ltd. and Gyrotron Technology Inc.
On August 13th, there was a purchase by the director of 850,000 shares.
100% agree. Even last May I had a very positive attitude that the company was making the right moves in reducing cost overhead. We do need to see some positive moves in upper management to display publicly their confidence in the direction of this company. Even more so with the market corrections that are going on at the moment.
At .17 per share, insiders should be buying if the potential business is not complete "pie in the sky". The fact that NO ONE is buying makes the "potential" that Moore talks about just wishful thinking. IN the past this stock moved upward on the confidence of insider buying. That seems completely dried up and shows how little faith the insiders have in Moore's words.
Look on the bright side. At least it stayed flat today when DOW lost 3% (540 points). Only thing that I had that didn't go down. Seriously I feel your pain. 77% losses with this puppy. Nothing to do but be like Major T.J Kong in Dr. Strangelove. Ride this sucker with a big ... smile
Anyone have an opinion on the newest board member from Leap Tide Cap? Do you think a money manager is positive for us? Do you think it's the first step in a takeover move? Any other thoughts.
All assets of the company are secured by the debt they are taking -how do they plan on paying down that debt? even if they do how to the plan on getting capital after that. either way you end up in same position-.
John did thank the Oppenheimer questioner for "believing" in the company. At this point it should be pointed out to John that NO ONE "believes" in this company. Those of us too dense to have sold a long time ago, don't believe, we just cross our fingers and HOPE that "ONE DAY" something that John presents as opportunity actually comes true. In my case possibly watching too much Disney in childhood caused this unreasonable hopefulness ( and I have to admit, there is almost no hope left in me).
I agree. Same old words from John. Every company is in a great market with wonderful potential and revenue will be coming in the next few quarters. Always an excuse why it hasn't happen yet. The one thing that stays the same besides no revenue is they are always hiring good people and adding folks to the BOD. How many people are on the board? They are a total waste of money. Plus, with the current state of Acorn why would anyone remotely qualified join one of their companies unless they are paid a huge salary.Until we see contracts Acorn will only burn cash. Acorn is an example of a company that exists to pay the executives and the BOD at the expense of the shareholders. I wonder why the Maxim analysis didn't ask a question after the call? They have been shamelessly pumping Acorn for years?