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Speed Commerce, Inc. Message Board

  • nip7890 nip7890 May 2, 2013 2:53 PM Flag

    Somebody wants 10,000 shares for $2.50

    Too bad mmmmshortsqueeze sold all of his already.

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    • Hello nip, I stumbled across MXWL while reading some of your prior posts. I sort of like what I see with it at least on the surface. In your opinion, will their restatements be of significance? I might just buy a small amount so I keep tabs on it and will add as comfort level increases. If you want to see some rather lackluster results, read decent guidance, and then listen to a veeerrrryyyy bullish cc, take a look at LOJN. I will be adding shares. Cheers and Thanks.

      • 1 Reply to uptabdowntab
      • Hey there - we have similar other id is your ally on BODY. If we get a decent earnings report and guidance after the bell, we could see shares gap up tomorrow.

        As far as MXWL, management made it clear at the beginning when the need for the restatement was disclosed that the issue was simply when some sales were booked and recognized as sales. If you read the SEC filings, they made it clear that the total amount of the sales would not change, simply the quarter in which they were ultimately booked - pushing them forward by some amount, depending on when they really should have been recognized. So, if anything, it would make sales/profit in prior quarters slightly lower and slightly higher in more recent quarters. They also indicated the amounts in question were on the order of $5 million to $6 million total - not a tremendous amount in the bigger scheme of things. Because of the press release this week regarding cooperation with DOJ, I am guessing that this is somehow related to international sales/office - maybe China. That's just my gut feel as other companies have had varying issues with their overseas offices this year - bribery, and now my guess is the way the sales/payments were set up here without cluing the company in.

        Anyhow, as you can see by the stock price this past week, based on the press release a few days ago, people are beginning to understand that the issue is coming to a close, they do have a new auditor and will likely catch up on their SEC filings shortly. It may still be a little turbulent, but I picked up some more shares earlier this week in the $5.80 range. I feel much more comfortable after the press release than when it was just below $5 a few weeks ago.

        Assuming the sales/earnings figures are not materially affected, there's no reason why the shares shouldn't go back to $10+ as they were before this issue came up.

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