At the Alladin i met one of the research & development guys from Progressive gaming,showing dealers how to deal a new game..Conversation switched to Shufflemaster & Vendingdata...This new holdem game has 30 placements in vegas so far,all coming with Shufflemaster shufflers..
I asked about vendingdata tripling in price in a few months...He OUTRIGHT told me vendingdata was a JOKE in the industry & would be nonexistant in the next year..I asked if they would be bought out,his reply was nothing to buy out..Then he went on to say,don't you know they have no more money......(name witheld due to request)
Do you realize that all shuffling machines after a while tend to not work as well as they used to. Now the ace shuffler machines THEY BREAK DOWN ALSO - HELLO!! I've had friends and still have many in the industry and Vendingdata will be around.
If you want to short this stock fine, if you want to bash this stock and come up with silly reasons like call the floor manager??? I also have 3 friends who are casino supervisors/pit supervisors and they personally like the vendingdata machine because its quick in shuffling. Yes, they have some complaints about them also (Example the cards get jammed every now and then). This happens with all machines (EVEN FROM YOUR CUTE LITTLE SHUFFLERMASTER which I owned stock in until recently) and usually its because the cards should be changed and they don't slide through as easily.
Guys Vendingdata's machines are going to be around, if you don't want to believe they can't make it, that's fine. However, I'll be smiling in the long run.
Lampe and Triage seem to have remarkably cold feet about the $5 million loan deal considering the 3,000,000 deep-in-the-money warrants they receive if they go through with it. Don't you think they're sending a signal?
Stop asking tough questions..
Let me get mine answered first..They seem to be ignoring the one as to why don't they fix/put new the poker one shuffler at Fitzgeralds..It was/is one of the first test sites & it breaks down multiple times per hour...Now why wouldn't you fix it if you could...Is VNX poker one junk in 4-6 months?
It is clear that the company intends to improve. The high-frequency RFID chip addressable market is estimated to be $30 million per year. How about the DeckSetter and the ChipWasher?
Past income statements are indeed history, but the most recent balance sheet is where the company's future begins. The balance sheet looks so weak to me that the current market capitalization of over $50 million seems excessive to me. Mr. Newburg says that the company will be successful, but if he is correct, are the current common shareholders likely enough to make it through the current liquidity difficulties to that successful future to justify the current market capitalization? Lampe and Triage seem to have remarkably cold feet about the $5 million loan deal considering the 3,000,000 deep-in-the-money warrants they receive if they go through with it. Don't you think they're sending a signal?
Call Larry Childress Floor Supervisor at Las Vegas Fitzgeralds for
Ask him about the Poker One shuffler he works on every 5 minutes..Ask him about the Ace shuffler sitting in the floor that's gonna replace it...
Ask him about the other 50 shufflers they have & how they compare to the ONE poker one they have(used to have)
Wonder why VNX won't/can't fix it?
You want a reason to buy VNX ?----from the last finacial statement about 10 paragraphs down you will find this. Maybe this will help explain what we have been talking about. The company is not only in a turn around but it also has many new and exciting products coming to market. Try to keep the present and the future different than the past. The past with VNX has been horrible. A new day is dawning.
�Two quarters ago, we began the process to transition VendingData� into a commercially viable Company. In early October 2005, a highly experienced senior management team formally joined the effort to complete the repositioning of this Company. As we have stated on a number of occasions, the VendingData� story is a fourth quarter 2005 and even more so, first quarter 2006 event. We are set to meet that timing goal and expect to witness a positive revenue breakout at that time,� commented Mark Newburg, president and CEO of VendingData. �During the quarter we achieved dramatic improvements in product quality, process and procedure.
We introduced a consistent upgrade cycle for our shuffler line and have already received approval within two months on PokerOne� version 3, which is the version representing the standard that this company wants to reflect in all products going forward. RandomPlus�, the second-generation multi-deck shuffler, was resubmitted to GLI and Nevada Gaming during the third quarter, reflecting hardware enhancements and software upgrades, and it too was awarded the gaming approvals during the first several days of the fourth quarter. In recent weeks, we have expanded our product offering and dramatically increased our addressable market with three unique and original new products; the ChipWasher, DeckSetter� and High Frequency RFID casino chips. Finally, we took the opportunity to clear the decks and wrote-down all obsolete inventory and restated the 2004 financials. It is our expectation that as our overall company reputation for quality begins to emerge, in combination with all the initiatives we have set in motion during the quarter, the result will yield a significant increase in sales and enhanced profitability during the fourth quarter 2005 and beyond.�
Who knows---someday VNX may buy SHFL just for
Myself, of course.
It's posts making a case for owning VNX that interest me. They give me new information to investigate and digest. By posting responses, I hope to elicit posts that better and better explain the case for owning VNX. I'm not having much luck beyond hearing about the magical capabilities of the new management.
Of what relevance is price per share alone in deciding whether a short sale is worthwhile? Say there were a 1-for-10 reverse split. Would such a paper-shuffling exercise actually change your opinion?
I looked for the bleakest AGI 10-K that I could find.
In my opinion, it's the one for the year ending 06/30/2000 ( http://www.sec.gov/Archives/edgar/data/2491/000095014800002040/v65925e10-k.txt ).
The number of AGI shares outstanding on 09/01/2000 was 10,253,296. Yahoo historical prices for AGI ( http://finance.yahoo.com/q/hp?s=AGI&a=08&b=15&c=2000&d=10&e=15&f=2000&g=d ) show that the market liked the 10-K, which was filed on 09/28/2000. Before seeing the next 10-Q, which was filed on 11/13/2000, AGI's price reached $6.47 on 10/17/2000, which puts a market capitalization of 10,253,296 x $6.47 = $66,338,825.12 on the entire company.
On the bottom of page 31 of the 10-K, the Liquidity and Capital Resources section ends with, "Management believes that cash flow from operating activities, cash and cash
equivalents held and the $80.0 million Revolving Credit Facility, as limited by
the borrowing base, will provide the Company with sufficient capital resources
and liquidity. At June 30, 2000, the Company had no material commitments for
capital expenditures." This is better than what we find on page 12 of VNX's most recent 10-Q ( http://www.sec.gov/Archives/edgar/data/1004673/000114420405035305/v029205_10qsb.
htm#LIQUIDITY ): "Accordingly, no assurances can be given that we will successfully obtain liquidity sources necessary to fund our operations in the upcoming year."
AGI had total assets of $351 million on 06/30/2000. When the market had this as the most recent information, the highest market cap reached was $66 million. That's a market cap of 19% of total assets. VNX had total assets of $12,739,905 on 09/30/2005. The VNX market cap is over $50 million at $3 per share. That's a market cap of 380%+ of total assets.
The AGI current ratio on 06/30/2000 was about 3.6. The VNX current ratio on 09/30/2005 was about 1.7.
The most astonishing fact is that the market cap of AGI after the release of the 06/30/2000 financial statements was not that much higher, at its highest, than the current VNX market cap!