I've the picture of this inept management
throwing money at their debt problem like
drunken sailors in a whorehouse, but without
result. Maybe they should sell something!!
Sadly, i just bought some shares, hoping for a
pop after today's report.
Why, goodness sakes, you're entirely welcome! I don't play the big ones, i like the little guys like rme, who have hit about 8 in a row, entered this yr @about 700boe and will exit around 3000boe--a jr that can do that will see its stock rise--and you can take mommy's word for that! Mommy's gonna fire up the Nash and drive up to Alberta and look at their new battery and get drunk~!
Tell your mommy oil prices may tumble a bit in renewed peacetime hopes. Yesterday, several big oils were downgraded, including Conoco Phillips.
Tell your mommy I don't need more oil & gas. 25% of all assets is sufficient diversification exposure. No matter, thank your mommy for me.
Mommy likes jr oil/gas co's-but ones with production and decent financials. Mommy likes canadian jr's--believes they're better values. Mommy recommends rme.v and gny.to---Mommy says"do you think oil/gas will get cheaper? Do you want to depend on offshore oil in unstable countries? Do you think canadian $$ will get stronger in comparision to u.s. $$? Mommy has researched these co's herself. Mommy recommends stockhouse as a site to start your dd, if you're not familiar with canadian stocks.
Listening to a dog named Snowball? You are in serious trouble! Unfortunately, I listened too and added significantly. Another lesson learned .... can't rely on insiders who tell you "at $2.25 our stock is being given away."
What enticed me to follow your lead, and again
buy WORK was your prior record on WORK.
For many months, yours had been the only words
of caution and skepticism on WORK at a time
when i was 100% concentrated on margin. When
your call was vindicated in spades, you
became my E F Hutton. "When Snowball talks, I Listen".
<<According to a recent ownership filing,... >>
During the CC, Tom Sr. stated that he personally holds more than 400,000 shares. The most recent SEC ownership filing referencing Tom Sr's shares that I could find was dated 06-18-01 and shows 1,525,216 shares representing 11.78%. No mention was made as to how he acquired those shares. A prior filing dated 4/12/99 shows 1,430,559 shares. It's my understanding that shares shown in SEC filings have to represent actual, fully owned shares - not options that might or might not be eventually exercised.
There's a world of difference between 400,000 and 1.5 million, though both numbers are a lot more than my WORK holdings.
I did find the cc disappointing, despite the upbeat tone Tom Sr maintained. First, regarding his large quantity $8 cost basis shares he proclaimed (to let shareholders know he was 'alligned'), I could not confirm his claim to be true, which is why I am asking if anyone has a better link than the recent SEC filing I read. (And I don't count shares bought with money borrowed from your own company that you haven't paid back.)
"can't imagine why it costs millions to get a NO from a potential lender" ...... The CFO indicated on the CC that 'accounting costs' were allocated and some of the expenditures were put into Goodwill. I guess this means they allocated part of their officer and G&A salaries to the charge-off, making the operating profit beat by a penny?
Re: this mb? Tom Sr only needs read the Martha Stewart mb to have an appreciation of the tame kindness of this board. Martha never publicly complains and they've fried her in her own kitchen.
"savvy bottom fisher"...lately, only a perception.
I will remain long awaiting the resolution. I certainly got my cost basis down and quantity up enough to truly enjoy a "100% pop." In the meantime, 'snowtracks' $1.40 best be too low.
<<According to a recent ownership filing, Tom acquired 324,545 shares with unsecured borrowed funds from the company (don't think he paid back or plans to?) and 1,150,630 shares are exercisable but have yet to be exercised (as he is 'underwater'), leaving very few shares he bought with his own money? Could someone on this mb provide a link showing exactly how many shares Tom Sr owns with "his OWN money"?>>
I was told quite a few years ago that Tom Sr. started off with his own small printing company in New York (Philadelphia?), built it up to the point that it was bought out by a larger company and he became a senior executive in the acquiring firm. Work is the offspring/survivor/mutation of that firm. I suspect, though I have no way to confirm, that he is telling the truth and has a significant share position.
Of course, in the spirit of full disclosure, he could always tell us the details face to face at the upcoming meeting....
Did you pick up on his snide comment about 'chat' boards?