Yes, indeed. It's nice to not have this compliance thing hanging over the head. Hope we'll hear the official word on this soon.
Looks like I just talking to myself, but I just realized the market's going to be open on Thanksgiving too. So, as long as the share price holds at $1.06 or above the next two days, we should be compliant for real. Let's go china steel!
Gosh darn it. We now need GSI to close at $1.06 on Wednesday and Friday to regain SEC compliance. I don't know about you, but I'm buying. If you're long, you should too. Thoughts? Comments?
As of last Friday, the average share price over the last 30 trading-day is $.98. If the stock holds at or above $1.05 for the rest of the week (excluding Thansgiving which is a holiday), then GSI will be in compliance again. Please no one sell below that threshold!!!
Here's the exact SEC requirement:
"The Company can regain compliance with the Pricing Standard if on the last trading day of any calendar month before January 19, 2014, which is six months after the date the Company received notice from the NYSE that it was not in compliance with the Pricing Standard (the “PS Cure Period”), it has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. "
I've noticed that too about Yahoo Finance in general. I think Fidelity may have more up to date stats on GSI. If nothing else, one can always take a look at GSI's SEC filings.
Looks like a good cautiously optimistic report. I for one would rather see higher profits on lower revenues rather than the other way around. The actual production is driven by demand in housing and auto, which is out of GSI's control, so the drop in revenue estimate is understandable. I believe that it'll pick up though, especially with the new production lines.
The thing is every steel company has debt. Case in point, Arcelor Mittal (MT) has $60B, Posco (PKX) and Nippon Steel (NSSMY) have $32B debt each - it's just the nature of the business. The trick is getting your sales and profit margins up, and that is something GSI is getting better at.
Agreed. Someone should do a side-by-side comparison of GSI with other companies in the steel industry. In my opinion, that would not only give the company more visibility but also highlight its value.
GSI just announced a new production line that will contribute upto 4.3 million metric tonnes (MMT) in additional output, which in my mind is huge! I mean huge! The last six month output reported in their last quarterly was around 2.5 MMT, so we're looking at a 86% jump in output (by the end of the year). This is a nice precursor to what'll hopefully be a good earnings tomorrow, and if nothing else, a great sign of things to come.
They are showing up on the pcaobus org (accounting oversight), which is:
List of Issuer Audit Clients of Non-U.S. Registered Firms in Jurisdictions where the PCAOB is Denied Access to Conduct Inspections by Jurisdiction and Firm
This list identifies the issuers that file with the SEC financial statements audited by a PCAOB-registered firm located in a jurisdiction where the PCAOB is currently prevented from conducting inspections, or located in Hong Kong, where the PCAOB may be prevented from inspecting a firm's audit work related to a company's operations in China. The information here is derived from annual reports on Form 2 filed with the PCAOB by registered public accounting firms in 2010 and 2011, which, in combination, encompass audit reports issued by the firms in the period from April 1, 2009 to March 31, 2011. Except where otherwise indicated, the firm identified in both its 2010 and 2011 Form 2 having issued an audit report for the issuer. Additional information, as well as a version of this list sortable by issuer, auditor, or jurisdiction is available under Related Information.
There also appears to be a company called "sinohub communications", that was last logged into this week:
Sinohub Communication Co., Ltd.
Sinohub Communication Co., Ltd. is a high-tech mobile phones and Tablet PC OEM/ODM service providers in China, specializing in the design, R&D, manufacturing and marketing. Sinohub Communication is committed to providing the high-class mobile phones and specially for rugged phone, rugged smartphone, Tablet PC and accessories for the global markets.
Sinohub Communication have a 150, ... [Click for details]
Business Type: Manufacturer, Trading Company, Other
Number of Employees: 51 ~ 200
Business Scope: Consumer Electronics, Electrical & Electronics, Health & Medicine, Industrial Equipment & Components, Security & Protection
Member Since: 2009
Last Sign In Date: Nov 06, 2013
So, looks like they may have gone into "startup" mode, as they are now listed under startup genome, as follows:
6/F, No. 5 Qiongyu Road, Central Area, Technology Park, Nanshan District,, Shenzhen, Guangdong 518057, CN
SinoHub, Inc. engages in electronic component sales, outsourced electronics product production and sales, and electronic component supply chain management (SCM) services in the People?s Republic of China and Hong Kong. Its electronic component sales include procurement-fulfillment and electronic component sales to manufacturers. The company?s SCM services include warehousing, delivery, and import/...
I don't see one. I think it's the same as this one, it's just not trading. No news from the company, which can only be bad news.
Upon googling a little bit, it sounds like they are hiring? Hope I'm correct:
They are currently "current" as they say. I'm guessing Q3 will be announced next month, in which case they should let us know a few weeks in advance. Note that the steel prices have been going up, and that's what really counts in this business apparently.
Looks like it. What might help is to have some analyst or expert compare GSI with some of its peers in the steel industry. That'd be one way of telling people how undervalued it it.