Is ECTE about to make a move upward ? Chart is saying a strong possibility
Around April 13th is their EMA approval decision target date. The chart is slowly turning bullish and with the catalyst traders starting to jump in it should start a move north soon. The key level to watch as a bullish trigger is 3.31 (the 50 DMA):
m32 it's all under their filings. The SEC inquired on a few things back in NOV and LIWA put out their correspondense in January. Frankly, I check the filings all the time and didn't even see the SEC generated letter til recently. I may have missed it. Just go on the SEC website and find this.
One day wonder again! I'll keep trading this until AS can put some more of these aces on the table and take the pot. He's almost 5 months removed from his last announced deal. These delays on announcements can't keep the momentum that long. See ya back in low 4's Seletti.
The SEC also took notice on how awkwardly quiet this company has been: In their letter back in NOV to LIWA regarding the shutdown for 10 days:
We note you attribute the decline in sales volumes of CCA and copper wire products during the period ended September 30, 2013 to “the temporary suspension of production for about 10 days as a result of drawing machine relocation from the old plant to a new factory on the 30-acre site, to better streamline all wire production, and create space for new product and test equipment in the old factory.” Since we assume the relocation was scheduled and known for some time, it appears to us it was a known event, likely to impact your results of operations, which should have been disclosed and discussed in prior exchange act filings. Please revise future filings to disclose and discuss known events and/or trends that may impact your results of operations on a timely basis.
You can see what LIWA came up with as their answer to this but all I'm saying is this company is staying quiet for a reason and ZHU will make his offer at $6.50 IMO
I concur with everything you've said but the liquidity in a name like this is tough to draw in fresh money. Are they having a CC? This management needs to stir up some interest or even some insider purchases when the window opens IMO. Hopefully we can get som sort of intrinsic value # from co. ASAP!
el, I think if you have a number of investors on the call asking question(s) that are legitimate topics that daphne/zhu need to address is very warranted. They've taken individual investor questions before and I'm sure they'll take anyting they can get now. Having ZERO questions on the call like in November is just SAD!
ski44, great questions and I see it's your first post here. "See you on the sell block" is my thinking too. I'd recommend anyone who reads/posts on this board to simply get on the call and ask a question (don't fear they won't bite)! But my quess is we'll have ZERO questions like the last time and it will be biz as usual and Daphne will be off the hook. Zhu is a dud of a chairman/founder/CEO or whatever title he desires. He may have 13 million shares but we all know that's all meaningless unless he begins to think seriously about a shareholder friendly plan for which the stock will rise and he can begin to unwind that positon or just go private!
They don't care because they have ZERO skin in the game. Insiders are useless with this name they haven't felt the need to purchase any stock for 3 plus years...
huntw3, did you even listen to CC? You say Q1 sales should be "~1.3 million"? Pay attention they've already showed you that Jan there was about 1050 doses and Feb 1200, I'm guessing Mar will be about 1400. Add that together thats 3650 in sales at $150 or $547,500 plus maybe about $200K in grant. The 5-6 million figure they gave for year is clearly back end loaded if they hit numbers.
Clearly not a bad product,they're simply looking to enhance the product. Happens all the time. You can't dismiss the data. Chinese $, CE Mark approval, FDA trial, European roll out, Chinese initiating the steps to be taken to get approval in that market. Lots of catalysts. Also a clean up of the ivory tower!
hopster, I'm chill. Too much NOW? I've been in this for 2 plus years and still have a $5 stock. Can't be more chill than that. Zhu is against the stakeholder. It's strange considering he's the largest one.
$6.50 MBO by Zhu, that's your upside. There's no reason to be a publicly traded company anymore, management has refused to do anything that a "normal" managment team would do to help the stakeholders. They've continually used excuses and have failed at creating value thus the only alternative is for Zhu to just go away and go private.
The grant of the CE Mark will undoubtedly lift the shares of ECTE. Current market cap is about $55mil fully diluted. We should see north of a $100 million market cap once we get this nod from the europeans. Even more important is the Chinese money coming in from MTIA via agreement signed. March 10th is cutoff and I suspect will see that $ come in and then be able to transfer the technology to the Chinese for them to begin the work on Gen 2. With a shareholder friendly largest shareholder now on the Board I'm sure we'll start to see a cleansing in the ivory tower.
Zhu clearly is looking for a MBO at a very depressed price. I'm guessing $6-$6.50. I believe we're at $1.42 in diluted EPS through Q3. Need $.52 to meet 2012 results. I'm sure we'll be lower and will be just another reason for Zhu to move forward with the MBO. Not sure of traction on the new CCA product, they've been pretty quiet on that front. I'm guessing summertime will get the offer.
They blew out their 10 million shares right from the get go and took the free warrants. That's their game was in another name that they did the same thing too. Stupidly that stock hit over 5 and they got out below 3. Hopefully we get the same move now that they're almost gone. Management was fooled by them, "Family Friendly Institution", yea right!