CO. wrote off TFEL,seems like they have made poor moves,3 million plus a year to devel op,,,OLED and stirling engine relying on ROYAL APPLIANCE.......filed annual report today but IMO not one which will send this DOG up!!!!!!!!
I have a different take on the company's latest earnings report. GAI is cashflow positive, and cut expenses to slightly increase profits in spite of a decrease in revenues. The cash burn rate from their OLED business is low(0.5 M/qtr)and easily absorbed at this point. They have a solid appliance and floor care business, are a low cost contract manufacturer(China), and are likely to resume profit growth as the economy improves. They are realistically cutting their losses by selling TFEL, and their high tech initiatives(OLED and heat engine) are relatively low risk/high return projects.
Selling at less than cash, with negligible debt, GAI is a Benjamin Graham type investment, with a high margin of safety, and the potential to be a multibagger for the patient investor.
I hope you are correct ....... will the Lite array acquisition ever make money??or is it a 10 million dollar plus burn,I hope Shams are not scams as they own 70 percent of shares,OLED who knows?My problem with the company and I am a stock holder is their disclosures are behind like given June earnings now?Iknow I do not have to own it but give me cash value and someone else can have my shares.!!!!!!!!!!!!!!!!!!!Management are largest sharehoders ..Do they want to push stock into institutions at a higher price or self -serve themselves and burn cash deceptively.We will find out by 2005.Who got the 500,000 for possible acquisition expense that never went through?Who gets the R&D money,what did they pay for the Stirling engine rights.....why not a share buyback at these prices? these pr share buyback if