I've known of his involvement in Bush 41's administration for awhile, but this is the first time I think I've heard him mention it in a CC.
He sounds younger than he is.
Questions could have been filtered, or more probably, folks who called-in were being told that the company couldn't answer certain questions for legal reasons, and those callers hung up.
That could explain the long delay between the last management comment about the quarter and the start of the questions.
The results of an FA would probably come in handy when suing Geo for tortious interference (thanks, bitesr, for that nice legal term).
Making fun of Fong's stammer is so 4th grade!
Thanks, bitesr. I didn't see your post over the weekend, but was thinking about the damages caused by the extra dilution, so I'm glad to see that someone like yourself, with actual experience in the law, sees this "tortious interference" (good legal term, BTW) as real.
This is my analysis of last Friday's CT ORDER filing, showing that it was about one of Dennis Bracy's exit letters from August, 2012.
I've been thinking about the 10-Q, and the loss LLEN had to take on the Ironridge deal due to the Geo hit piece.
Assuming LLEN starts trading again, could they sue Geo on the grounds that the hit piece, rather than just resulting in a lower share price and a delay of a TDR listing, actually caused LLEN and its shareholders financial harm in the form of increasing dilution via a "protection plan" that was triggered because of the hit piece?
What if Ironridge colluded with Geo (I don't believe that happened, but am just throwing it into the mix)?
The first two are the CT Order and 10-Q that were filed last Friday and discussed over the weekend.
Today's filing is an amendment to the 10-Q that activates the XBRL (eXtensible Business Reporting Language) tables, which allows the report to be dynamically searched and analyzed.
None of the data in the 10-Q filed last Friday was changed.
I see this lately with a lot of smaller companies. The 10-Q (or 10-K) is filed, then a day or two later, they activate the XBRL tables and file the amendment.
No, we're saying we understand why they only made $0.03 EPS, and how it was a product of a potentially dilutive deal with Ironridge that was triggered into large dilution via the Geo hit piece, which has been, IMO, refuted by the company.
As I wrote last Friday or Saturday, I hope that management learns from this, and doesn't do any more deals that have a dilutive "protection" feature that can be exploited.
So LLEN's $0.03 EPS is important enough for you to comment about them on a Yahoo message board, but not important enough for you to read the reason for the drop in EPS, despite the fact that you were directed to the EXACT sections of the 10-Q?
Like the coal numbers as well.
I think the report explained a few things a little better, and they'll have to keep improving it in order to close potential openings for vultures like Geo.
I also liked Robinson's rather forthright comments.
I hope to spend more time on the report over the rest of the weekend.
Obviously, that wasn't the plan.
The Geo hit piece caused the price drop that fueled the increase in the number of shares that resulted in what will now be a massive overpayment for the coal to be resold, turning what should have been a profitable deal into a loss.
Hopefully, they'll learn their lesson and never try anything this "clever" again.
Don't use Lee's first name. The yahoo filters appear to flag it as some kind of obscenity and auto-delete the post.
The latest filing from LLEN is a letter, dated today, from the SEC that appears to be a ruling on whether or not some statements in exhibit 4 of the 8-K announcing Dennis Bracy's departure as a board member (in Aug, 2012) could be redacted.
The SEC ruled that they could not.
Why it took over a year to get an answer on this I do not know.
Here's the statement that had the redaction:
"[CEO Lee] resists scheduling face-to-face Board meetings. He typically schedules conference calls with only a day or two’s notice, provides scant background materials, and then insists that the Board support his proposals after minimal discussion. [redacted on advice of counsel]"
I have a free RSS Feed Add-on to my Firefox browser that picks up any new filings for LLEN (and some other stocks) on the SEC's EDGAR site.
When a new report is filed, I get a little scrolling message at the bottom of my browser window.
Sometimes, like today, it pops up right away. Other times it takes up to half an hour to appear.
Lately, however, it sometimes displays filings from months ago. Not sure if it's a problem with the add-on, or some updating on the EDGAR site that the add-on is picking up.
The add-on is called RSS Ticker and I have version 14.
LLEN filed a NT 10-Q, saying that the filing will be late due to the fact that so much info is required.
It's now supposed to be filed within the next five days (that's the standard extension).
They have to file the 10-Q, but they don't have to file a PR announcing it or even have a CC.
My guess is that while they're under a trading halt, they'll want to file the 10-Q to remain filing-compliant, but won't hold a CC because there will be too many questions they can't answer until things are worked out with NASDAQ.
At about 10AM today, some program decided it was time to sell coal stocks. Compare the charts for ACI, ANR and BTU, and you'll see roughly the same pattern for the day.
FWIW, I set an order at the open to sell a few hundred shares at $4.61, and of course, it never executed.
I do think that trading is a bit rigged. Yesterday, I set an order to sell 700 shares of another stock at $4.35. A few minutes later, 91 shares of that order traded at $4.35, but because the quantity was under 100, it didn't show as the high of the day.
Today, I set another order to sell the remaining 609 shares at the same price, and 600 shares executed when an order hit my ask, but nine shares remained, and despite the fact that some shares traded at $4.37 a few minutes later, those 9 shares are still sitting as part of an open order.
For some reason, I thought that market makers were supposed to make sure that things like that didn't happen, but with ECNs, I think those odd lot orders get bypassed if the entire quantity isn't filled the first time, or if you don't dump the shares into the bid.
I'm pretty sure it's due on Dec 10 (Tuesday), so happy the see that the company is planning to file on that date.