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CPI Aerostructures Inc. Message Board

cpa38 12 posts  |  Last Activity: Aug 12, 2014 1:35 PM Member since: Mar 17, 2000
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  • From the mouth of the CFO in the last conference call:

    " ... we are in the middle of updating our strategic plan and finalizing our budget for fiscal '15. So we will be releasing guidance for fiscal '15 in the summer".

    I suspect Kevin S. Cavanah has practiced a little "Selective Disclosure" allowing friends and family in on the fact that FY '15 numbers aren't going to be as strong as anticipated. Isn't that how the thieves in Corporate America always act? Let their favorite analysts, shareholders know the news before it gets released to the bag-holding public shareholders.

    Investors know the market is rigged, which is why we have plunging participation in the stock market. And we can't rid ourselves of our rigged markets because we have a weak SEC, who sit on their tails and allow the Kevin Cavanah's of the world to cheat and steal from the investing public.

    If there are MTRX FY '15 estimates floating around out there, known by some, but not by all, then this company needs to get off it's thieving tail and get this information released to everyone.

  • When this sorry piece of garbage reports again? I need a good laugh.

  • Reply to


    by cpa38 Jul 28, 2014 1:46 PM
    cpa38 cpa38 Jul 28, 2014 11:56 PM Flag

    If there is any out of the ordinary impact on the operating results of WSCI from this NHTSA recall, then it's obvious that Michael traded on insider information. And when it gets announced, I'm not going to waste any time in requesting of the SEC that they give WSCI and Michael a call to discuss Michael's sale of WSCI stock. It really p*sses me off that WSCI has remained quiet about this recall. There's no excuse for not disclosing it to shareholders in the latest quarterly results and 10-Q filing. None.

    I spent time late today delving further into this NHTSA recall situation. It may not be as bad as I initially thought. One document indicates Polaris believes 873 units are in question, but likely only 1 to 1.5% of those units will be found to need repair. That's only 8 to 14 or so repairs. Still, there's the expense associated with contacting all 873 owners, transporting units into dealer shops, inspecting units. And there's liability there if they fail to catch a bad unit, it seizes up, and someone dies. And who knows what impact this has on the WSCI relationship with Polaris.

    Ben needs to get off his sorry tail and start talking with shareholders about this so we can know the impact. And that communication needs to happen now. He's already three months late. This is sorry mgt of a public company.

  • See the latest filing from this clown? ... Form 4 signaling insider sale, or maybe buy, who knows. Couple issues here.

    1. If he sold shares, was Michael trading on inside information? Absolutely, if he knows ANYTHING about future charges to earnings that arise from the May product recall, information that has not yet been disclosed to shareholders. If that's the case, Michael needs to have the SEC knock on his door.

    2. The man can't file a simple Form 4? Did he sell, or did he buy? If you look at the filing, section 4 clearly indicates "A" for acquired shares. HOWEVER, if you look at the share count of his holdings after each transaction, it tells the opposite story. The shares held are declining, not increasing. Seems we have a confusing, conflicting mess with Michael's filing. Michael didn't fill out the form properly, and thus there's no way of knowing what he did. Seriously, do we need a director who can't fill out a simple form? Michael, er, maybe you should find another board to serve on?

  • cpa38 cpa38 Jul 28, 2014 11:22 AM Flag

    Recall was announced in early May. WSCI was fingered in the NHTSA submission at that point. So, there's NO WAY, in early May, that WSCI mgt can argue they were not aware of a potential liability associated with the recall. Yet, on June 25th this disclosure is in footnote 4 of the 10-Q:

    "The Company is exposed to a number of asserted and unasserted claims encountered in the ordinary course of business. Although the outcome of any such claim cannot be predicted, management believes that there are no pending legal proceedings or claims against or involving the Company for which the outcome is likely to have a material adverse effect upon its financial position or results of operations."

    So help me God, if there is a liability, and it turns out to be material, I will be up in the SEC's face to throw the book at WSCI mgt and its CPA firm. Bank on it.

  • cpa38 cpa38 Jul 23, 2014 3:11 PM Flag

    It's extremely disconcerting that WSCI did not address this issue in conjunction with the late June earnings release. If the recall was in early May, the issue had to have been front and center in the March/April timeframe. There has been ample time for WSCI to determine a provision for expenses associated with the recall. And expenses associated with recalls aren't accrued into the appropriate accounting period, but are immediately recognized at the point they can be even remotely estimated. I would have to believe that WSCI knew in May whether they would have any liability, and could reasonably estimate that liability. So, they had an obligation to book it in conjunction with the results released in June. If not then, then certainly they should have announced it by now. Extremely disconcerting.

    Beyond the raw dollars though, of greater importance is ... how will this impact WSCI's future relationship with PII?

  • cpa38 cpa38 Jul 23, 2014 1:44 PM Flag

    Jeff, Google this: Victory Crankcase Recall. Read.

    The recall was on May 2nd, over two months ago. One article I read indicates that it involved almost 900 motorcycles. More importantly, PII was blaming "the crankcase vendor" for poor QC. Was this WSCI? If so, implications?

  • cpa38 by cpa38 Jun 20, 2014 11:16 AM Flag

    ... this piece of junk down to $6.75, where it belongs.

  • I give up. Looked for 15 minutes. Could not find the news sending our jewel up over 7% on heavy volume. What is it that I can not find today with MTRX?

  • Reply to

    Earnings have been released

    by cpa38 Jun 9, 2014 10:29 AM
    cpa38 cpa38 Jun 9, 2014 3:38 PM Flag

    Only today? Son, don't insult me.

    I am a perpetual, continual, never-ending, investor grouch. There are only a few well-run, public companies that would put me in any other form of disposition. And WSCI sure as #^*& isn't one of those well-run companies.

    When I triple my investment, I will smile. So, until $15 a share, I will be a continual pain in the #$%$ when speaking of this P*S company and its P*S mgt.

    We need better disclosure. We need earnings conference calls. We need for the stock moves to stop happening weeks in advance of confirming news.


  • ... to friends and family of a few insiders, who are now chasing the stock higher.

    Loving how we know what earnings will be ... weeks before they are released. Honest to God, where's the SEC on this travesty? Look no further than WSCI as a poster child on the fact that America's Security Markets are rigged, trading on insider information is rampant, and the only way to make money is the illegal way. God Bless America.

  • Reply to

    any bellyachers still here??????

    by wayne21044 Jun 5, 2014 12:03 PM
    cpa38 cpa38 Jun 6, 2014 9:45 AM Flag

    Yes, I'm still here. I will never stop complaining, until I sell and move on. That won't happen until this lousy P*S trades above $15.

    There isn't enough disclosure here.
    The CEO is an idiot.
    The CFO is a moron.
    This company S*CKS.

    That should be good for a move over $10.

11.04Aug 27 4:03 PMEDT

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