Just spoke with Schwab agent. I was told that I do not have to do anything and it is in process. He said to keep checking this afternoon or Monday for the share and cash distribution. Looks like they are still sorting through it all.
Out of curiosity I asked about the open short positions. I was told that the borrowed shares would most likely be called back at the closing price. Maybe that is part of the delay too.
Best of luck to all longs!
FWIW - I plan on holding my SZMK shares based on the growth of the online business. It was the only part growing and they were able to keep that portion intact and have 60 mill in the bank. Nice job!
Let's see what SZMK can do now!!
I was pleasantly surprised with Bami on the CC. He announced a very organized 6 pronged approach to the turnaround.
Some highlights from CC:
> felt the bottom had been reached in 2011 and should grow from here - focusing on reducing the break-even level through the end of 2011
> used 18 million in cash for Q2 less than projected
> 3-12% growth in sequential Revenues expected for Q3
> Gross margins expected in Q3 of 34-36%
> 8-14% reduction in Operating Expenses (42-45 mill range) for Q3
> continued reduction in operating expenses through year end with 2012 Operating expenses to be under 40 mill per quarter with growing revenues.
> Cash balance at end of Q3 should be 30-40 mill if not higher depending on additional licensing agreements
> building in Shanghai on the market - deal expected to be signed by year end on lease back.
> new products launching in Q3 - Q1 of 2012 already products showing interest from Tier1
** They seem excited about the turnaround and eager to see it take place.
I don't see the price going much lower! JMHO
*** Per Bami we have seen the bottom in 2011.
I agree. That is what I was trying to state by posting that information. It time to turn upward or at least in the near future. Downtrend has lasted long enough this is a long enough base for a significant rise.
I haven't checked on the outstanding shares but that is a valid point about the number of shares during the share price increase.
If you go back and look at TRID's chart:
> 06/93 broke below $2 rose above $5 in 03/95 (21 months duration)
> 06/98 broke below $2 rose above $5 in 02/00 (20 months duration)
> 11/00 broke below $2 rose above $5 in 10/03 (35 months duration)
> 10/08 broke below $2 rose above $5 in ????? (30 months duration thus far)
I would note that the longer base from 2000 - 2003 allowed for the highest rise in PPS to over $30 in 3/06.
How much longer before we push higher and how much higher??
Not much longer in my opinion.
Time is on the longs side now.
Just think about that return to above $5 - thats worth waiting on even if it takes another year - which it shouldn't.
Time will tell.
before buyers step in and it stabilizes??
I really would have thought right around the 1.70 mark but because of the close I am not sure now.
Looking for a bounce tomorrow on some volume and I will feel much better.
There were a lot of buyers on the 3 million share day. Obviously a lot of those new holders are still holding on to the stock. If it doesn't bounce soon in my opinion it could head straight back to 1.40 or 1.50. Not what I want. Honestly if it could pick up in volume to the upside it might just feed on itself and rise quickly. There seemed to be good support around $2 where that should be resistance now.
This sure is not acting like a pump and dump (more like accumulation). There seems to be support and continued buying on pullbacks. It also appears that it is being watched by many because as soon as it starts pushing higher the volume starts increasing. If we could get any follow through on a spike up then we could push the next leg up.
What was your take on the annual report today? Do you see any change of direction coming for the stock price?
Just curious what the long time holders are anticipating over the next several months.
Amazing how everyone else knows something about this big news.
What I see today is someone supporting the stock. They wait on it to fall back and buy. When the little bit of selling that is going on stops - we will have to wait and see if they are aggressive enough to bid it up and start buying at the market. Then again they could get their fill and stop buying letting the stock then settle back.
I guess I will just have to wait and see on the news thing unless someone wants to let the cat out of the bag!!
from - Pechala's Reports-- ? They show under the summary section of Yahoo Finance for LPTH
Just curious - they give a 2 week outlook and a 12 month outlook.
If you have read it can you please summarize for us??
Thanks in advance - still long and awaiting the next leg up.
Care to share what your target is to get out pre earnings? I am thinking right at .60 there is a ton of resistance. Any thoughts?
my retirement account won't allow me to hold an unlisted stock. I hate it because I really feel like they still have a chance for a turnaround.
Best of luck to you all!
It was .28 they stole 8% today. How can they get away with this??????????
I am furious!! I can't even remember what time it was when it traded at .28 today.