I'm posting very little, especially with yahoo changes. I figure these bypass (legacy) boards won't remain forever.
I had a very small position in IFON going into earnings.....I posted a long while back about repositioning IFON proceeds elsewhere. I will probably keep my position because it is again small.
I'm not optimistic on IFON....on the thought of re-making themselves again. IFON is in a dog-eat-dog business, was not able to break into the U.S. market effectively with its verykool brand, and seems unable, in general, to drive sales in its traditional markets with its verykool brand any longer. The app market opportunity seems somewhat pie-in-the-sky stuff as far as monetizing. Finally, Ram seems to have stuck his foot in his mouth on multiple occasions over the last year+.
Right now, I think there are better places to have my money working. I wish I could be more optimistic but I just don't see the game-plan here now.
I know this company is not well-regulated but someone is selling a handful of shares at the close each day to work the price down. The price was at .23 moments before the close today, for example, and the bid was above .19....with the ask at .23. Then a trade down to .1856 comes through of smaller size than what is being bid above .19.......the .19+ shares passed over. This is occurring routinely and represents activity not within the bounds of normal trading activity (the bid and ask)......how does this happen and who is behind it?
I still see at least another big leg to this advancement prior to the dividend. Of course, the dividend is a payout of net assets and will reduce book value/share......and the stock price will drop once the dividend is locked in after the 19th. However, the amount of the price increase thus far off a very weak 2.45 closing price when this was announced is pretty tepid if one goes back and looks at the impact of a 1.10 special dividend announcement on the price of MSN back in spring of 2010. The price close was 2.27 on MSN when the divi was announced and the price crested at 4.78 just before the dividend was locked in for shareholders holding out for the dividend. I think STLY will absorb selling and still move higher before this dividend plays out.
Micro, you are right about the comment about 2nd half of year. Statements taken together do suggest that the current quarter is showing good progress.
Without argument, it sure is looking and feeling better here than a couple of weeks back.
BTW, the article does use the expression "pleased to return capital" and this seems to explicitly denote tax treatment as ROC or return of capital, but I was involved in a similar situation with MSN back in 2010 and the IRS contended with MSN for a long time on its tax treatment of a special cash dividend. For those with shares in a taxable account, it is an issue worthwhile to clarify in advance of the ex-dividend date.
I wonder how this dividend will be classified in a taxable account.....return of capital (not taxable, with cost basis adjusted down by dividend amount), capital gain, or ordinary dividend (taxable, with cost basis raised by amount of dividend). It can be classified as one of these or a combination of these. Most special dividends (defined by relative size of dividend to share price) paid by small companies that don't ordinarily pay dividends at all are not treated as ordinary dividends. My guess is that this dividend will be treated as a return of capital. I guess I'll have to call the company to get an answer on this.....Hopeful
I've thought about this Micro. Note, you said that Prillaman all but explicitly states a profit "THIS" quarter. He actually said "the NEXT few quarters." Technically speaking, the next few quarters would exclude "this" present quarter. However, he could be referring to the next few quarters to yet be reported which would then include "this" current quarter. It would be a great point for clarification since the statement is made via a public press release. We are left to interpret the meaning of "next" it seems to me.
Wendy, never mind. When I typed the words Golden Star Resources, the drop down allowed me to pick the Canadian symbol nomenclature correctly and I could view the purchase. Thanks for this information. There's little more confidence-building for outside shareholders than to see insiders showing confidence by investing their own money, IMO.
I've been unable to find these purchase you speak of.....and the revelation of how they are participating in the recent share offering. I'm not being negative or even questioning the truth of your comments. I have a lot of shares here now, just purchased following the financing deal announcements and the steep price decline....so your statements would be welcome news. However, again, I've been unable to find this information at the website you mention. In another post the evening, more recent than your post to which I'm replying here, you state there's another insider purchase and that one needs to input GSC since it is the canadian symbol???? GSC is a symbol for a Goldman Sachs affiliate and that's what comes up at insidertracking.
It would be more helpful if you provided an exact link to this site where you see these purchases and share exactly the steps you yourself took to locate this information. Put us at your computer if you will because I'd really like to see this for myself. Thanks very much.
sorry for typos....did not proof.
Second paragraph should have started....I don't think using SGMA
Second line of second paragraph should read .......as though SGMA
Also, I stated KTCC and SGMA project a ramp in revenues.....Let me clarify....KTCC does not project ramp for next quarter to be reported but does project ramp for long haul. SGMA simply stated its revenues are expected to rise for the next fiscal year, indicating it's already started.
I agree with you Micro. I agree with you on KTCC. However, I'm holding SGMA again from the 5.70 mark and added pretty aggressively "after" the earnings report at 5.65 where someone was dumping after reading that report very differently than I did apparently. That dumping ended abruptly too.
I don't using SGMA at just above 6 effectively makes your point as to the cheapness of KTCC.....as thought SGMA is being treated better, relatively speaking. KTCC is indeed as cheap as you say here in the mid 7s....but SGMA is cheaper in the 6s not only in the obvious way (meaning 6s are lower than 7s) but also on a relative basis. KTCC has a P/S of .17 and a P/B of .77 where SGMA has a P/S of .10 and a P/B of .43. Both are comparable as to the percentage of book that is tangible.
As with KTCC, SGMA is projecting a ramp in revenues....and the latest SGMA report, just 3 days after KTCC sounded bullish all the way around, IMO. SGMA reported its annual results on 7/29/16 and its first quarter ended on 7/31/16. This tells me the CEO basically knows the outcome of the first quarter already....and he sounded bullish. The results will come out by Sept. 15. So, IMO, SGMA should be significantly higher that where it is. Right now, SGMA at 6ish is cheaper than KTCC at 7.50.....and they are both dirt cheap.
I did. I highly recommend listening to the archived call. I don't see a particular catalyst from today.....but this stock has a chance to be a mega winner, IMO. There were 6 or so analysts questioning management. In a nutshell, CNAT is focused like a laser beam on the NASH C market for those with MELD scores between 15 and 20.....transplant candidates. There were so many points on the call that implied the strength of emricasan....for instance, the only trial participants to drop out have come from the placebo group....not a single treatment candidate quit. IMO, that says loudly that emricasan was helping.
The desired endpoint for approval is proof that emricasan extends life in this setting. Management obviously feels so strong about emricasan in this setting that it responded to a question about partnering with someone that it would not seek a partner for the application to extend life of transplant candidates with NASH C. It said it would consider partnering for applications concerning fibrosis later. However, as to strategy going forward right now, CNAT is clearly swinging for the fence to become the first to market to service an unmet market for those with NASH C facing transplant. It acknowledged that it will need financing to get there but it's clear that they feel so strong about emricasan for the subject application that they don't want to share the potential fruit of success with a partner.....and they clearly must believe that financing will be achieved easily given the prospects.
Again, you need to listen to the call and share your thoughts. It would take a much more extensive post to cover all that came out of the Q and A. IMO, we are holding a major lottery stock here. However, it's only a good analogy in the sense of how big the payoff might be. The chances of winning the CNAT lottery are much higher here, IMO.
I loaded up on PCTI at average of 4.50, buying steadily on the prolonged down days. I sold a bit over half at 5.09 and higher over the past week or two, not wanting to place a big bet on earnings. However, I'm glad for the remaining position. Although non-gaap numbers exclude a couple of big items leading to a big gaap loss, the core earnings look solid and outlook sounds strong. I'm happy with PCTI....JMO.
Thanks for your helpful comments. Your perspective is beneficial. I also can understand your sense of frustration. I concur that it seems the recent news was mismanaged. The good thing remains for us that when you peel back the onion, gold prices are the driver and this pause for GSS will likely be just that.... a pause. Given that gold continues its trend up, it's probable that once the GSS engine revs again, the stock could regain some ground pretty fast, making the present discussion a quickly fading memory. All the best and IMO,
I just bought GSS "BECAUSE" of the recent financing deals. I'm a retired accounting professor and retired CPA. I can tell you the balance sheet showed without a doubt that there WAS NOT ample time to wait on the share price to rise. I'm amazed they were able to defer it as long as they did. The current ratio had gotten under .4 and the book value is significantly negative.....however, these equity deals will change all that. GSS need to raise money a while back; I think they did really well to keep things going so that they could get the much better price that they did.
It takes money to make money. Gold is going up and appears to be on the front end of what could be an extended bull run, IMO. Currencies of the world are in the toilet and the U.S. Fed doesn't know what to do; economic data of late is all over the place....monetary games are starting to collapse. Yes, IMO, gold is just starting its rise.
So, IMO, this is the time for GSS to assure its future. Had it been financially healthy, it wouldn't have needed financing at all.....but GSS was desperate per the balance sheet detail; there was no way to stay afloat, much less take advantage of the early raging bull in gold. Now it can do both.....stay afloat and go forward fast. That's why I was buying this past week.
Worrying over the CC is majoring on the minors, IMO.
I can see your mom training you as a child....
Mom, what's that......She says "odd that"
Mom, what's for supper.....She says "odd that"
Mom can I go out and play.....She says "odd that"
Some face stunted growth in this world....you grew up with a stunted vocabulary.
IMO, we just need one more strong quarter in September. Borg's share count will have to be depleted so much by the next report that he becomes a non-factor for the first time since this all started back last November. The CEO hasn't sold a share of his proposed filing from early June. So, I rationally conclude we need one more good report.....if we get it, this thing will finally head up where it belongs, IMO.