the rise or fall of a few pennies does not mean scam or not. The company is still not making money, is almost out of cash, and has a ton of shares. Share count is almost up 10X from when spanspur first started pumping it. I hope you break even or even make some. Why someone would buy 200k shares of this is beyond me though. I wouldn't touch this before the next earnings report which will show how sales have fallen off and cash is dwindling. 1 year from now when Honda sales drop off, sales will be lower than today. Why invest in a company that is 100% certain to have lower revenue 1 year out? Just because they didn't go BK means things are great.
how can anyone know? Since these loans were sold at a premium to what you had previously said were false prices, it would make sense now to write up the value of the remaining non-medallion loans. Since NYC actual transfer prices are up from last quarter, there will also be a write up of NYC medallion loan values.
I may buy some shares here. Book value is certain to go up and we know they just sold stuff at a premium to book. Write ups will flow though as profit and dividend will be paid again.
maybe they write up loans and take a paper gain. I guess those paper gains they have been taking are justified, maybe conservative in fact.
they replaced a loan on the books with cash at a premium. For those a little slow, it shows that book value of loans is too low. Maybe they do another write up of assets and take a paper gain. Maybe this explains the interest from another company...someone wanted to buy their loans at a premium
company is now well capitalized.
which will allow them to write down non-performing medallion loans and still generate enough profit to have another 25c dividend. this explains the run-up on Friday. Not sure with the NYC medallion transfer prices if they will have to write down anything other than non-performing loans. no NYC mark to market losses
sold $100M of bank securities at a premium. So much for needing more money...
Also, NYC June transfers in. 5 foreclosures at $525K - $610K. 1 non-foreclosure at $600K and 1 at $575K. What was last qtr ($580K and $520K)? 1 corporate transfer at $545K (2 at 50%). So prices are UP and company is now well capitalized
12-24 months before gold peaked, there were numerous "we buy gold" signs everywhere on storefronts, radio, tv, newspapers. Now I am seeing "We Buy Cards" signs. People may not know the card market is hot, but it is just huge right now. Prices are up 10X from 5 years ago. People consider 70's and 80's cards like mini works of fine art and are willing to pay big money for them. Tens of thousands of dollars in fact.
Will use 725K coins and 450K cards
Last qtr avg coin ticket price was $14.63, down from $18+ in last year due to so many Moderns and the new discount. Modern count is down this qtr a little so will use $15 avg price
$15 X 725K = $10.875K
avg card price was $9.16 last qtr and has been over $9 for a while. Will continue with $9.16 price
$9.16 X 450K = $4.122K
$1M for other stuff like Expos, CCE, etc.
Total of $16M in revenue
GAAP EPS of 22c - 32c. Hard to guess due to tax rate and yearly bonuses. The key number is the amount of cash added.
I only invest in dividend plays now and I am up 20% YTD already. Utils have been the #1 sector this year and last year
I've rented from Enterprise for a 2 day trip, $25/day. 300 miles one way. $50 rental cost, 2 tank fill ups at $30 each, $190 in my pocket, no wear and tear on my car. Another guy in the office used his car and got a big ding in his windshield which the company did not cover. After that I said F that, I'm renting
those match the numbers I figured. At $20M annual revenue (take out the Honda revenue), stock is trading at 1X right now. Seems about right. 2X would be a max for a company in this situation or 70c
you are not factoring in the years of accumulated 8% interest in the share count plus the new $1M+ from Topsoe. so about 30M new shares or 50M outstanding.
I've rented cars on long trips for work. It actually comes out cheaper then using your car without the wear and tear, and you get refunded at the 55c/mi which more than covers the rental and gas. So you wind up getting paid to drive a rental
Looks good. Debt removed. Death spiral removed. Raised a small amount of money. Not sure the money raised keeps the listing but would assume yes