Always thought that the % of shorts for this company was exceedingly high and was hoping for good news
which to date has never been forthcoming that would result in a "short squeeze". Now as a long, I am the one that is being "squeezed" with bad news on the legal front and previously with mediocre revenues and CC.
Now, where do we from here with respect to stock price? business and revenues?
Still struggle for profitability?
What about the pending lawsuit September? If Mitek wins what then? But it appears that their case may be weakened and if they lose what then? What is sig of the "Russian factor"?
Finally, it appears that Mr Strange's departure may have been hastened by fact that the company was spending 1M a quarter on legal fees for a lawsuit about infringement of patents. Was this suit his idea or was he responsible for giving management advice and encouraging them to proceed with suit against USAA?
Was he the scapegoat or the actual motivator for this suit? Does the company have someone to move technology forward? How big of a loss will he be in this area?
Obviously, lots of questions now and I fear that I will not be happy with most of the answers.
again, the question is how was royal able to outbid majors or companies with more resources for this acreage? with apparently positive seismic data, why was rampart not able to get funding or a partner on what you might consider a "no brainer"; therefore, i would like to know what sophisticated oil analysts or investors really think about the value of the royal acreage. Will they be lining up to replace rampart, or waiting to "low ball" royal for the property or hoping that royal cannot make expenses to maintain the property.
We royal optimists will now see what the oil realists value this land.
when the only "partner" in your project has less cash than i have in my wallet now and a stock price less than a nickle, there is obviously no faith in your acreage and potential! Are the results of the seismic study enough to interest more stable companies to partner with royal? Have we long royal shareholders put more value in that study than others might? Is there a "white knight" out there to rescue us in a reasonable time frame?
Royal should not give Rampart an additional year to drill and end this relationship.
The problem is now the game of "chicken" begins with stable companies with more resources available to them. Their timeframe does not necessarily correspond with that of royal's. Royal may not have the resources to hold onto this acreage and be forced to dilute shares to raise cash. In meantime the "family-centric management" of the company continues to draw salaries, bonuses? which benefit themselves and not the shareholders. If the land is "partnered" the drilling timetable again could be delayed and not benefit royal as the partner just holds the acreage, especially if they have other land to develop.
One question that has always bothered me, how did a company like royal with very little resources obtain the rights to this property? Where were the other bidders?
In summary, I am a very long and frustrated royal investor. I am not saavy with respect to oil producing properties and what experts in the oil business might truly value this Alaskan acreage. If Rampart was the only company interested in Royal before the seismic data, will be there be others now interested, esp if royal can dump rampart? But it seems that Royal may not be holding the cards now and others will probably determine the future value of this company. We can expect those to extract a considerable "pound of flesh" and the very "rosy" projections dampened considerably. Who will blink first?? The owner of the acreage ( royal) or those that might salvage this project.
management stresses growth, "sweeping consumer trends" all kinds of flowery projections on number of banks, number of users, number of products and mitek's numbers
increase incrementally and seemingly do not reflect all that optimism. Despite thousands of banks and millions of transactions, revenues move forward at snail's pace; can we ever expect a "breakthrough" or exponential growth and consequently some stimulus to stock appreciation? Management constantly congratulating and rewarding themselves for a "job well done" but the shareholders are not benefiting.
To top it all, CC seems rigged with those asking questions because i requested as "private investor" to be included but of course CC terminated before any private investor spoke..
As of now, it seems that mitek will continue to lag the general market and only hope is positive result in USAA suit and if legal expenses which are incredible are rewarded.
I am asking a question and do not want to be critisized for being naive or uninformed
recent announcements by apple that with "new" touch ID that they will have security necessary to make
e-commerce and mobile payments safer and therefore more acceptable to masses; also they have 1 billion users with itunes and apps. The question: do any of the Mitek patents prevail when Apple and even Walmart start promoting and using these mobile payments and other uses?
keep up the verbal warfare based on each of your own agendas and i guess the rest of investors and posters will just have to wait to find out who was the most accurate.
Just wish that the board and management team of this company was more balanced and impartial rather than being so heavily influenced by the Hosmers. Oh well, guess I knew that when bought the stock.......
Sentiment: Strong Buy
now that rampart is going to seek independent analysis or in medicine a "second opinion" on their
seismic results and then some sort of "third opinion" what can we expect to be the timeframe for these
evaluations to be completed and announced? Also, will there be any projections about actual potential of the property in terms like barrels,etc?
If results confirm last weeks announcement, will the stock be able to hold gains?
has there really been a sig dilution as mentioned on board?
Sentiment: Strong Buy
Did rampart select the best acres for drilling? Are the other acres owned only by royal in proximity to those just investigated with seismic report or near other oil/gas properties?
Just keep them in the bank or reach out to a major for development and study?
Sentiment: Strong Buy
It has been over a week since rampart reported that they would release results in a few days. Are we concerned that those results were less than expected? why the delay?
If they were as expected or better, what type of response would you expect share price of royal?
does a seismic report merely indicate the existence of oil and gas areas or does it predict the amount of oil and gas one would expect?
sales for april were great and only hope in the future that revenues increase accordingly since 600K more feet sold with only 30,000 increase in revenues- once gain more credibility which seems to be occurring a small increase in price of product seems indicated'
winter slow down affected last quarter flat report on revenues but anticipate great next 6 months
only concern are these short term agreements with LP; Barrier has spent many years establishing product identity and now gaining traction; there should be some way to insure long term agreement with LP so that the "rug not pulled out" and all their work handed over to larger company with more resources for larger scale manufacturing across the country; would be happy if they could be in driver's seat with agreement that they could hand off to another company and get royalties rather than in position after all these years and on verge of great success of not reaping benefits
Sentiment: Strong Buy
It appears that last quarter was flat and that may be a positive sign with the terrible winter having sig impact on the requirements for ibtgf's product; hopefully the increase in march which probably reflects some of those delays due to weather will be matched by a good april and a great next 2 quarters
hopefully there will be royalties from overseas but i dont expect much traction in that market at this time because of heavy construction with stone, mud and brick instead of wood and lax fire requirements at this time. With the fires around san diego one can only imagine that the dry west should be fertile territory for building with flame retardant products as well as the southeast. If the company cannot manufacture and distribute because of its small size and expenses for distribution, maybe partners will come forward in these areas and our company gets a royalty stream
i expect large increases in next 2 quarters indicating company and products gaining credibility; anything less would be disheartening
Sentiment: Strong Buy
well, despite all kinds of "rosy" projections from 4.8-5.4M on this board over the past weeks, the company surprised no one with today"s earnings. Many small cap stocks drift upward in anticipation of earnings but mitk remained flat all week, again surprising no one. I do not care how wants to read the results, i find it disappointing to say the least that with 2000+ financial institutions that the company cannot generate more than 4.5M revenues.
I will listen to CC to see how management spins this one. High percentage increases in banks and
incremental increase in revenues ( ignoring the %)
I cannot wait to see how the reward themselves for a job "well done" while stockholders literally "take it in the shorts"
Despite the market going up these days, Mitek's stock continues to drift downward. Do you really believe that (1) this in stock manipulation and the downward pressure totally the result of the short sellers or,
(2) that the projections of greater than 5M and better numbers projected by many on this board will not
be attained and there is negative news ahead whether it be revenues/profits or something else and that this news is available to a select few.
If it be the latter case, I will definitely feel betrayed by management and demand an investigation because of "insider information" and if it the former and numbers are OK and news OK, I will feel that someday us longs will prevail and "squeeze the shorts". After seeing the stock action in this stock, I may have a rather jaundiced view .
first of all, I am long and down slight amount in Mitek; i want to believe some of the "rosy" projections of earnings and revenues for this quarter bandied around on this board, but over the years I have noted that most small cap stocks start to move up or down several days before news released to general public because i would assume leaks to smaller groups of investors. So i am hoping to see some upward movement next few days or instead it there is downward trend, I fear that news is leaked and will not be as good as all longs on this board are hoping for
despite claims of a multitude of financial institutions now using Mitek revenues increase incrementally rather than that exponential jump that all us longs hope one day willd defy projections, the legal expenses way out proportion to revenues continue and thus the stock drfits down.
After the USAA and other lawsuits settled, what can we expect if:
(1) Judgments in favor of Mitek- predictions for stock price immediate and longer term and revenues
(2) Judgements against Mitek- predictions for stock price immediate and longer term and revenues
( company seems to be functioning at marginal level currently how will a negative ruling impact
interested in the pumpers and naysayers comments regarding those 2 questions
stock price continues to plummet, possible explanations
(1) Besides losing major bank, some are aware that others are not satisfied with product and may also be dumping
(2) Some aware revenues next quarter below expectations
(3) Some aware after studying legal issues that Mitek has sig probablility of losing lawsuits
The reason I say "some aware" because I am not aware of any sig adverse PR ( in fact the opposite the company continues to put out info which may be deemed positive by some and "meaningless by others) and yet the stock continues to dramatically drop to 52 week low; I have been long and optimistic for quite some time but although the general market is weak at present the decline in Mitek seems out of proportion with the market and available info.
In addition, it is time that management starts acting in the interest of shareholders rather than using this company as a private bank taking bonuses in options/shares without performance and then selling those shares to enhance their individual bank accounts at expense of the shareholders. If they were truly interested in the shareholders they would reconsider timing of sales not to coincide with quarterly reports and thereby
negating a weekly positive or neutral report; just could imagine what would imagine if their selling came after poor news, a "perfect storm".
it is hard to remain optimistic with this stock action
for a company with grandiose ideas and uses of technology, nothing has ever come to fruition; why the increase in activity with incremental uptick in price?
Let me first say that I am very long in this stock and have become quite disenchanted with behavior over the past several months with drops once price reached 7 secondary to an offering priced 2 dollars below current market price and drops at other times thought to be related to management selling shares for unexplained reasons or a potential investigation started by a law firm.
with the general markets increasing, stocks thought to be of lesser value have seen sig stock price escalation while mitek's price wallows and does not have any upward momentum.
I am tired of an entire board of "pumpers" writing each day about this bank or that credit union of so many users and the stock stagnates and seemingly cannot generate increased revenues or profits to move the price forward; I wish they would stop writing all this nonsense because it apparently doesn't mean a thing.
secondly, it seems that Wall Street does not believe or is tired of the "Mitek Story" and want proof that all this
hype is going to result in profit or it will continue to ignore the stock.
in summary, stop the storyline and report on something positive; if there is nothing to report then we all have been "hoodwinked" by the pumpers and management into believing the story which turns out to be fantasy.
For now, I continue to hold and hope that this turns out to be some type of reality story instead of that fantasy.
some recent action in stock price and volume; anything going on that would cause this?
is the company a "dead" company with no prospects or as mr. fleming had hoped in past, there was possibility of using pad kit for testing of variety conditions; anything happening here or with use of pad for hemmroids?
1700 banks have access to Mitk technology, skyrocketing usage, new programs all sounds great and yet revenues creeping upward at snails pace; it appears it is rather easy to sign up banks or sell a product when you are virtually giving it away. Why is it so hard to get traction in this arena where supposedly banks are profiting and closing branches? Where is the more dramatic or even exponential growth in revenues that so many on this board predicted ( 4.8, 5.0, 5.6 etc).? How do we expect the share price to move forward when revenues are increasing so slowly ( I prefer to look at the actual number of 4.5M rather than the 35%)?
With all the wild projections of revenues for the quarter on this board, the stock price drifted downward from 7 because of legal investigation, a weak general market and maybe today's report was not a surprise to some.
yet management would increase their compensation or options for shares based on performance?
35% increase in revenues? Why not tie those option requests with the share price so that all of us longs can benefit together and maybe there won't be the surprises that knocked the stock price down in the past.
No mention of TISA, Kofax for legal reasons? Maybe ongoing negotiations between parties to settle these disputes and possible patent infringements to Mitk's advantage. That would be nice. USAA and othe suits 500K or higher is certainly a big chunk of revenues and can only hope this is settled in favor of Mitk and includes legal costs.
in sumary, still holding a rather long position but certainly not as euphoric as some and only moving forward with cautious optimism.