Both correct Water management is low low margin and labor intensive plus the idea of a breakthrough in bactericide is a stretch. Bringing several companies assets together that r defunct on the cheap is ok but depends on the frac market period. If it rebounds life is good if not just rots and rusts. 4 million would by ALOT of pumps and irrigation pipe. Frac tanks going for 3500.
Communication needed. I heard first that they wanted an exit from the water business but that seemed to be focused primarily on hauling. Now they are buying into water management - scaling/bacteria, etc. Not sure how the margins stack up against other segments. My understanding that water had low margins but I'm sure it depends on the exact operations. The next two quarters will be interesting - for better or worse. Hard to believe this could keep falling but the last year or two has shown anything is possible.
I guess the market didn't like the purchase and lack of guidance on what kind of revenue might be achieved. They spent 4mm but what is the return on investment?
Got some shares. Surely Cross River has a plan for shareholder value. They are sitting on a huge paper loss. Now that Richard is on the BOD, he has insider info and with him approving the purchase, things must be okay. Look for a huge buy once the window is open. Wouldn't be surprised to see him double down.. Question then will be exit strategy. Either buyout or secondary in a few years if the price recovers.
Tried to buy on the dip to .27 but market markers took it down on 1000 shares and brought it back up.. Amazing a company's value can be cut by 40% by a few thousand shares. There was a large bidder of 200K at .36
There will be no M&A. The last one in Tioga did not turn out well. As to volume those that could get out did. Those that r in it now can't find buyers and r hunkered down for the long haul on a high risk speculation with high return. It's all about keeping expenses low enough and keeping market share which is difficult with there current structure. Looks like .35 next support.
was so anemic that I thought it was halted. Glad that cold weather is here and we are getting into their core seasons. Adding to this in the low-mid .50s. Will be interesting to see how their M&A hunt goes and what kinds of complementary services they can add that are counter-seasonal. Also like the fact that they are expanding in Eagle Ford. Will be interesting to see if they become more involved in Permian and Delaware but appears from the last call that this region may be less profitable thus far. Like their balance sheet and continued leverage reduction to around 1X. Should be an interesting year......
Guessing stock price will settle in this narrow range for the next 4 months..frac heating down 40% from last year, law suite on Heating on fly still out there and factored in. Just hanging on will be a major goal because all these 'Mom and Pops' don't have the admin costs of a public co and have been thru this before. 1$ share in spring unlikely.
It will move in one direction...INTO THE TOILET where ALL these WORTHLESS silver/gold PIG FARMS belong!! ALL OF THEM!!!!!
More insider buying today. about 10K but at least not selling. The nice part is the director has a 100K option only if the shares are above 1.79. This is where we will be in the spring.
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From Cross River 13D Filing. note last paragraph. Looks good for the new year
he Shares held by the Reporting Persons were acquired for investment purposes in the ordinary course of the Reporting Persons' investment activities because they believe the Shares represent an attractive investment opportunity.
On November 19, 2015, the Reporting Persons agreed to purchase 3,583,000 Shares pursuant to the terms of a privately-negotiated agreement between the Reporting Persons and other shareholders of the Issuer. As a result of the transaction, the Reporting Persons are currently the largest shareholders of the Issuer.
The Reporting Persons believe that the Shares are significantly undervalued. As of the date of this filing, the Issuer's shares are down approximately 68% in 2015, while the Market Vectors Oil Services ETF (OIH) is down approximately 13% over the same period of time. The Reporting Persons believe that the decline in the stock price of the Shares is related to (i) the depressed energy sector, (ii) underperformance of microcap stocks versus large cap stocks, and (iii) significant insider selling from the former Chairman and CEO of the Issuer.
The Reporting Persons believe that the Issuer's management has done an admirable job in navigating the weak oil environment. During the trailing 12-month period (ending 3 rd quarter 2015), revenues have declined approximately 9.4%, while EBITDA (proxy for cash flow) has increased 11%.
In the future, the Reporting Persons plan to provide their input and provide the board of directors and management of the Issuer with advice on (i) merger and acquisition opportunities, (ii) additions to the Issuer's board of directors, (iii) the hiring of senior management, (iv) executive compensation, and (v) other proposals to maximize shareholder value on a per Share basis.
Today, might be Herman's last day in ENSV.. We'll see by the SEC filing later
Once they are gone, the selling pressure will be gone. I predict we shall be over 1.00 by mid January
Good news, Hermann and his wife are almost out of ENSV. They owned 14mm shares now Hermann owns 0.00 and his wife is down to 3mm. Cross River bought a big chunk at .49 cents and is now up to 8mm shares. They also bought 1mm of Hermann's shares at 1.38 about a year ago. The 3.5 was half of Herman's wife holdings and went to Cross River .. It is now going from the sellers hands to the buyers. This is will be much much higher in the future ie 1 year. I would look for them to pressure management to enhance shareholder value once Herman's wife has sold the rest.
But like the 1mm share at 1.00 and then this 1.5mm sell at .50cents, someone bought them. ie a hedge fund. I expect they will pressure management to increase shareholder value.
Did not know that. He really has given up on this. Your correct .36 may come sooner than later. As long as management can milk it the hell with value.
Actually Hermann sold 1mm shares recently at .50 cents. The faster he gets out of this company the better. Of course his wife owns 6.5 mm but hasn't sold any. Management didn't talk about shareholder value at all. I'm thinking we head to .36 cents.