•Cash at March 31, 2016 was $1.6 million, compared with $3.0 million at December 31, 2015.
so they burned $1.4M over 3 months. I don't know the exact to the penny numbers and if there was rounding so I rounded up to $1.5M over 3 months == $500K/month. Technically using rounded numbers it is $467K/month
spanspur and beendown should attend. both have large stakes. You guys should talk to Kanis and see if he is lucid. also talk to the CEO/CFO etc. what would it cost you? $1K-$2K? If you have more than $50K in this, it would be worth it.
on a good note, cash burn is down. Seems to be at a rate 1/2 of what it was just a few months back. If what they say is true, and some of that was due to severance, then cash burn will be less than $1M/qtr. Interest payments of $400K/qtr seem high. I wonder if Kanis gets cash or stock for his 8% note.
for all we know, Kanis is insane or just filthy rich that is does not matter. Maybe he did that deal and Bell did his deal so they wouldn't be sued or would have a strong defense in a lawsuit.
The August loan looks like the imminent BK event
sigh, the Honda $22M in revenue is going away. No one is paying 1X revenue when revenue is going away. I have stated this now 5X and you keep putting out egregious numbers like $1.80. Try 50c for a buyout. What? That's $9M + $12M for current debt + $800K tax settlement and equates to 1X sales without Honda
Not a terrible quarter. Sales are declining and Honda makes up 57% of sales. Honda sales will start to diminish mid next year.
Cash is down to $1.6M but they got $2.5M in April which should be enough until August. They now have a negative shareholder equity of $900K and need a positive equity of $2.5 in order to not be delisted. So at a bare minimum assuming constant cash burn, they need to raise $5M by August to keep nasdaq listing. they also have a loan of about $4M with FGI due in August. That could be the BK event of a creditor forcing BK
Also owe $900K to CA in a tax dispute and accrued $100K towards that.
So in order to keep afloat for 2 years and pay off FGI and state of CA and have enough cash, they really need $15M. That implies 60M new shares. Current shareholder wind up with 20% stake
RVM did not have a GOING CONCERN. the price of silver and copper collapsed so fast they could not get out from under it. They also had a mine collapse and went from things will be re-opened to we are selling the company in 6 months.
I don't think I was the only one who got caught in oil going from $70 to $30 and silver going from $30 to $14 and copper going from $3.50 to $2.
Why don't you use your billy id? We all know you get bent over here and in WG but weren't man enough to admit it. I lost on RVM. I did buy more when it tanked and made some when they sold out at a higher price, but still lost. It was a low 5 figure loss. I was still up last year over all. That's all that matters. I don't win on every trade, no one does. I beat the market and increased my wealth enough that I decided to retire at the end of the year. How you doin?
seriously, stop being a little whinny beyotch. There are many ways to value an asset. Get over it. they will continue to write it down 1% a month while they write up their other assets 1% a month. That is the reality. Deal with it. Medallions now make up only 48% of their assets. It will decrease 1% a month for the long foreseeable future, long after you are dead
took profits of $3700 in 2 days. Easy money. Say what you want, I make money on this company every time I trade it. The short timeframe from announcement to ex-div day cost me money. I think that was a mistake. Should have made ex-div day the end of month
There are a few blue chip stocks that are down that need looking into such as AAPL and DIS
whatever pricing and promotion program they came up with is working as PCGS 2016 modern coin certs are exceeding NGC certs by a 2.5:1 margin. So if previously NGC had 70% of the Modern market now PCGS has 70% of the Modern market
Ironically NGC certs did not go down. PCGS certs just jumped. So NGC maintains their revenue while PCGS just jumps up.
This is all while Miles Standish, formerly of PCGS, jumped ship in September 2015 for NGC. He ran the PCGS Modern segment. So was he holding them back? I've heard he's a nice guy but what's the deal here? Why was this not done before?