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Poseidon Concepts Corp. Message Board

  • hopo1938 hopo1938 Feb 5, 2013 10:46 AM Flag

    Wait for next financial report

    I would suggest that any investor interested in this company, or with a major loss, simply WAIT until the next financial report. It appears few, if anyone, knows what is going on. If you have a loss and did not use it for tax purposes in 2012, or if you are simply a speculator, at least wait to see what the
    company states publicly. It was obvious that few in the company were aware of the disastrous internal
    operations, as the head of U S operations resigned after making a large insider buy. I personally have a large loss in this company and am just waiting to see what they tell us. no sense selling at this point in the year even if I have offsetting gains, which I do. Will be interesting, so to speak, to see what happens next, publicly. The only thing that really "corks" me is that their website is hyping reasons
    for investors to purchase their stock. i think that those statements should be deleted or they should add the reasons not to buy the stock. My opinion.

    Sentiment: Hold

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    • I have a customer that sells necessary products to a competitor of Poseidon. He said that Poseidon is overpriced on fracking solutions and has lost most of the new business they used to get. He said stay away.

      Sentiment: Sell

    • I agree with the strategy. I got in at current levels and still see the main issue with the stock price being the lack of clarity as to earnings, collections and the dividend. If the collections issue can be resolved, this company's market cap is near its accounts receivable (which is ludicrous and certainly worth trying to make a buck on).

      Sentiment: Buy

      • 1 Reply to longrun8282
      • I don't feel that you get a , let's say, transparent answer when you contact the company, so I stopped doing so a while back. Assume they should be reporting mid Feb unless their internal problems require they request a delay in order that they have some idea if what they are disclosing is accurate. Better to get an accurate report than a timely one as far as i am concerned. Its just a hold for me and a wait and see. Miracles do happen. Even the commenter who got in at current levels should take a wait and see attitude, in my opinion. Like I mentioned, this company could be in any financial situation; hopefully, it will improve. Better yet, get reabsorbed into the former parent, which itself was purchased. At last then someone in their
        office would realize that they are not collecting the monies due them. In my opinion, that is a pretty amazing situation for a public company. A corner store is run better.

        Sentiment: Hold

    • mmiller2162@gmail.com mmiller2162 Feb 5, 2013 11:39 AM Flag

      HOPO,
      Could not agree more. I entered this stock at around $15. So really have nothing to lose by holding on. This company still has a viable product and service. The administrators just need to get their act together. Do you know when their next earning report will be out? I figure I will hold out till the end of 1st QTR. before I make a decision. I seriously doubt I will ever see $15 again.
      mmiller2162

      Sentiment: Hold

 
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