A shareholder vote takes a minimum of 3 months to occur and is no guarantee of success. It is also costly. You have to file SEC docs, get shareholder lists, print and mail proxy materials, get a proxy solicitor. Costs of $100K+ for a company this size.
Basically a waste of time and money.
Do you realize that suppliers can force a BK? It may not be up to the company. If CDTI is not paying suppliers (AP is up), a supplier can petition for a BK filing.
$10M in debt, credit lines near being maxed out, declining sales, increased costs. Doesn't sound like things are great
If the company was possibly up for sale, wouldn't any new hire potentially be laid off? If they are in need of cash, couldn't they cut back by laying off? they are already cutting back travel, shipping, etc. People are next
Last I read before putting him on ignore he said he sold for a large loss. Why does he keep posting?
no, can only dilute by 1/3 of outstanding shares in any one year. So take share count on Jan 1, and divided by 3 and that is number of shares they can sell that year. Can't do more than 20% of outstanding at a time as any more requires a shareholder vote. so they will do 2 offerings of less than 20% each and less than 33% combined.
figure on 20M outstanding shares by year end. I remember not too long ago this was like 7M outstandng. You can thus see why they have had to reverse split 2X already
Yet can only sell 5M shares based on Shelf Offering covenants. Desperately needs to raise share price temporarily to sell shares.
Watch out for paid promoters
has didBox been dropped? Taken off one slide that details the products. Still mentioned on another. Maybe have been eliminated. Makes sense. Different hardware
both are liars. Newbies need to avoid them and make their own informed decisions
and that doesn't say much. At least a leading company DID make and offer and IS buying RVM. RVM stock could thus see appreciation once converted if metals go higher. CDTI could go BK in 3 months. That is a fact. Even an analyst on CC asked about near term financing. Company has GOING CONCERN
funny just last year these P&D's were talking BILLION dollar valuation. Now they talk maybe $100M. The stock is fairly valued because without desperation financing, the company goes BK in 3 months.
not a good sign. Still have revenue for Q2 too high, almost $12.5M. Can't see how they get there. This quarter is half over and they didn't say anything that would get us that high.
This new VMS SaaS model is not working out. Fire Norm before his shares vest
Jagid got a failing grade as CEO. Ehrman a D-.
Lots of FUD and outright lies on this board. So what is the company worth? Let's do a bottom up assessment.
They have $10M in debt which would need to be paid off. Anyone buying the company would probably need to spend $20M just to take their testing to completion. So that's $30M off the top
They have patents. tons of patents. Not a single licensed patent. No patent revenue. Obviously, the patents might be worth something. Potentially a lot. It would take them another $5M just to get someone to value all their patents, search who is in violation and start legal proceedings. The market is large and licenses could be large as well. Violators would fight them vigorously and legal fights could take years and another $10M. If $1B of PGMs is used every year and their products reduce usage by 80%, potential savings are huge. Royalties are typically 3% - 5%, so $30M-$50M/year
The rest of the company is worthless. dozens and dozens of companies sell filters and such. The only value is potentially a patent license of $30M-$50M/year.
Companies are sold on based on sales multiples. So figure 1X which is somewhat generous as they don't really have any patent sales, just potential. so a sale of $30M-$50M. Offset that from the $30M off the top to pay off debt and finish testing. You get a value of $ZERO - $20M. The company is worth $30M now.
I'm saying the company is fairly valued now. Hence, the constant need to raise funds and a GOING CONCERN