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CSP Inc. Message Board

  • cookieabcd cookieabcd Jan 7, 2010 4:39 PM Flag

    Tender Offer ?

    what are you guys smoking?
    A tender offer implies offering a higher stock price for tendered shares.
    This company will never, never buy shares at higher than market prices !
    In fact, they past buy-back record indicates they only come into the market to SUPPORT the stock price, not
    to move the price higher.
    What don't you get ?
    Look at the 1OK - they stopped their buy-back last April, and now you want
    them to have a tender offer ?
    The ONLY way the stock will move higher is thru a cash dividend , and if you read
    the 10K they have absolutely no intention of paying a cash dividend.
    They would rather get 1/2 % yields on their cash.
    The ONLY way to shake these sleepy guys up is to have Mr. Hall & Mr. Siperstein link horns
    and take the necessary steps to move this stock.
    Judging from what both of these guys have NOT done over the past years, any help from them is remote.

    Together they own around 19/20 % of the stock --- yet they sit back and watch this stock flounder year after year. They are just fine being comfortably numb.
    Just look at a 5 yr .& 2yr. chart.
    Look this stock sells for a significant discount to their CASH LEVELS --
    Have you ever seen this before from a company with no long-term debt ?
    Am I frustrated - you bet.
    Selling for cash would put the stock price at $6.00 - far cry from where it is today.
    Will someone from the BOD please for once take steps that are beneficial to shareholders not management
    who don't own any significant amount of shares.
    BOD - you have fiduciary responsibilities to increase shareholders' value.
    Enough is enough.
    Frustrated shareholder

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    • good riddance.
      CSPI again, has no long-term debt.
      Capital lease obligation : $48,000 is nothing - hell, my car cost me
      more than that.
      Other long term liabilities : $320,000 is like a small pimple.
      CSPI HAS $19,000,000 IN CASH, sir.
      And you want to argue over small amounts of money : less than $400,000 is very silly.
      CSPI sells for a discount to cash : 25 % --- THAT'S THE BOTTOM LINE.
      Am I cheerleading : hell no !
      I want them to use that cash in the best interest of shareholders and give us a $2M cash dividend.
      They are just hoarding money .
      You just don't get it.
      It's shareholders' money NOT management.
      WAKE UP.


      I think I will pass. I can see this is just a waste of time. It doesn't matter how logical a response I provide, you will come up with some senseless comment altering the original point.

      I wish you success in your investing.

      I don't give a crap about a piece of junk , such as EDCI.
      This is a CSPI message board - lest you forget.
      Let me try again if you can't read very well :
      What long-term note payable ?
      lease -your nuts .lease is roughly $54,000 - hardly long-term debt.
      Explain yourself, which you can't.
      note : as far as EDCI , ANY COMPANY [?] that does not have home website on Yahoo,
      I ignore.
      Plus they are in [supposedly] liquidation and the stock price is still below cash !
      It's crap.
      How much money are you down on CSPI and how many years have you owned it ?
      You were a owner way back when it was over $7/sh, lest you forget.

    • The poster is an idiot. Personally, I was replying earlier with a correct response to someone else and was lambasted about metrics to which I was not refering. It is obviously someone with little investment experience and unable to put things in perspective and has not seen other undervalued stocks. The ability to understand and interperate balance sheet concepts is lacking.

      I think the name has been around for sometime. I guess I would too be somewhat desperate and anxious if I held this company that long unable to tell the difference from the high margin business that CSPI finished and very low margin business.

      In any case, it looks like things are looking better for CSPI. Unfortunately, the poster is not interested in any intellegent conversation rather than pumping the stock. I almost never use ignore but this was the perfect application. I am not sure why you are wasting your time. Thanks for your comments.

    • CSPI's capital lease is as much a long term debt as EDCI's rebate payable. You failed to read the 8-k indicating EDCI paid off all of their long term debt. You stated in error that the company has not home page and play semantic games that CSPI has no long term debt and EDCI does. EDCI has a much higher percentage of cash and investments than CSPI. That was the point of the original post and no amount of your inane comments changes the fact that it is a valid comparison.

      Not only are you quick to belittle others, you make conclusive statements that have no basis in fact, like EDCI has no website. I don't quite understand the attacks especially when you seem to have useful content to add. If anyone disagrees with you, you immediately fly into attack mode. What purpose does that serve?

    • what are you talking about ?
      you talk in generalities and not specifics ?
      what long-term bond ? amount ?
      what note payable ? -amount ?
      lease - your nuts. lease is for roughly $54,000.

    • Is a bond payable long term debt? Yes.
      Is a long term note payable long term debt? Yes.
      Is a capital lease long term debt? Yes.

      No matter what you call them they are long term. The difference is semantics.

    • you are wrong again.
      EDCI has long term debt and CSPI has no long-term debt -- PERIOD.
      Again, what don't you understand ?
      Semantics are played by you, sir.
      AAPL has no long term debt either , but they are
      not selling below cash.
      You are in grievous error !
      Plus, CSPI and AAPL finance all their operations internally, they never go to the markets to finance their daily activities.
      Poor try.
      READ and WEEP

    • "can anyone show me ANY company selling 35 % below cash
      with no long -term debt ?
      IF you can --- which you won't--- I will then
      stop posting."

      "shhhhhhhh - don't wake BCINVESTOR up.
      yep --- EDCL has long- term Debt.
      NICE TRY.
      what don't you get ?"

      Semantics aside what do you call the capital lease obligation on CSPI's balance sheet and the off balance sheet operating lease obligation? Capital lease obligations are lumped into long term debt on more than one balance sheet. And what about SPE's, are they not functionally long term debt? If your goal is to play stupid semantic games have at it. If you are going to consider the facts and circumstances EDCI is situated the same as CSPI with very little long term debt and boatloads of cash and investments. Only EDCI has even more cash compared to CSPI when measured against market capitalization.

      You are awful quick to toss out accusations that often are blatantly wrong or based solely on your suspect opinions.

      "NOTE : EDCI doesn't even have a web site. "

      Here is the company's website:

    • "shhhhhhhh - don't wake BCINVESTOR up.
      yep --- EDCL has long- term Debt.
      NICE TRY.
      what don't you get ?"

      See the 12/23/09 8-k

      Item 1.02

      Termination of a Material Definitive Agreement

      On December 23, 2009, Entertainment Distribution Company, LLC (“EDC”) pre-paid in full all remaining balances outstanding related to its Senior Secured Credit Facility with Wachovia Bank, National Association and ING Capital, LLC as lenders (the “Lenders”) and Wachovia as administrative agent (the “Agent”). Commensurate with the final payoff of $7.1 million, EDC terminated all existing lending facilities with the Lenders and the Agent. EDC’s debt after the aforementioned payoff will be $2.3 million, comprised of 5 annual payments of 325,000 € , consisting of unsecured amounts due Universal Music Group (“UMG”) related to rebate payments owed as part of the supply agreements between EDC’s German subsidiaries and UMG. EDCI Holdings, Inc, the holding company for Entertainment Distribution Company, Inc., the majority shareholder of EDC, does not guarantee any of EDC’s debt.

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