is an activist investor to come in and shake up the BOD. What would it take to get Boone Pickens to take on this project (other than a miracle)? Seems like something like this would be right up his alley. Someone like him could drop $20 mill and get back 10x that.
Jumpin Johessifit, That is just what is needed! First thing, if we were so lucky, is to put Pinto Bean Hill back into his area of expertise, counting and recording items used. Gasfrac will get "played" by one or more of the brokerages that had anal-ists on the line for the CC. There is absolutely NO reason to buy, as a matter of fact they can drive the stock lower - at will. The only threat to their logic (plan) is if a large O & G decides to use Gasfrac. Otherwise, why would any sane person invest in the company, at present, Gasfrac is still losing money and is selling off equipment. At present the best that can be said, is that they hope, and I repeat hope, to snag a couple of "marginal" players in the O & G area!!! Absolutely NO dynamics from the BOD or Pinto Bean!
Maybe you could share with us- exactly- what you propose an 'activist' investor could do to bend the curve here, and how- exactly- that would benefit the long term shareholders.
And what do you mean by dropping $20 million and getting 10X back?
Are you kidding? Boone would add a couple experienced people to the BOD, bring in a new CEO, get contracts signed with some of his other investments. Apple popped 5% after Icahn sent out ONE tweet that he had taken a position, imagine what it would do for a company the size of GFS. He would get back 10x his money EASILY. Would probably run to $5 just on the news, then by the time he got done putting the right players in place we'd all be able to retire. If only, if only. Instead we'll just get bled to death by the least dynamic CEO/BOD that has ever been assembled. Jim Hill must think it's illegal to put out more than four press releases in a year. The BOD is too busy passing out options amongst themselves. And I imagine the sales dept sitting in a room with one telephone on the table, all of them staring at it and waiting for it to ring.
Carl Icahn is currently involved in a battle with Michael Dell. In this morning's news, Icahn revealed an investment of about $1 billion in Apple. Nothing the size of Gasfrac is even on his radar.
I once owned stock in a company that Icahn took interest in. It was a storied biotech called ImClone Systems. Icahn had been a friend of the founder/CEO, Sam Waksal, who served a 7-year sentence for insider trading. Sam Waksal was a friend of Martha Stewart and she went to prison for lying to investigators. Icahn not only invested in the company but he took control. He cleaned it up and took the share price from 30-something until he sold it to Eli Lilly and Company for $72. Because of Carl Icahn, I made good money on that investment. ImClone's drug, called Erbitux, now sells over $1 billion/year.