that's it. One win from an anonymous transportation company. Why do we employ Liolios? Seriously. Can't they just fire Liolios and save that money?
yet they hired about 6-8 new employees.
an interesting observation is that NGC has no Asian office and PCGS now has two.
NGC does have a Swiss and German Euro office while PCGS has just the Paris office. I wonder what the volumes out of Europe are.
Professional Coin Grading Service Shanghai Office Will Open July 20, 2013
- June 14, 2013
PCGS will open its Shanghai, China grading center on July 20, 2013.
(Shanghai, China) - In a historic event that has the potential to significantly expand the already rapidly-growing coin collecting market in China, "Professional Coin Grading Service, Collectors Universe (Shanghai), Ltd. (上海品吉伟仕商务服务有限公司)" will officially open on July 20, 2013.
"The opening of the PCGS Shanghai grading center and our strategic partnership with Shanghai Quanping Collectables Co. Ltd. are the beginnings of an important new era for all collectors and dealers in China," said Mr. Don Willis, President of PCGS, a division of Collectors Universe, Inc. (NASDAQ: CLCT).
After the July 20, 2013 opening in Shanghai, PCGS will accept submissions in mainland China through its partner, Shanghai Quanping Collectables Co. Ltd.
"The coin collecting community in mainland China now will be able to easily use the services of the world's leading coin grading service. Coins that are certified and housed in the PCGS Gold Shield holder are guaranteed to be authentic and properly graded. Collectors and dealers know that the PCGS certification helps maximize the value and the liquidity of their coins," Mr. Willis emphasized.
Modern Chinese coins dated after 1979 and vintage Chinese coins from the late 1700s to the mid 20th century locally available in mainland China will be accepted for examination by PCGS experts in Shanghai.
Coins must be submitted through Shanghai Quanping Collectables Co. Ltd., the official and exclusive agency handling coin submissions on behalf of PCGS in mainland China.
this is their year end quarter and typically with the audit, it is not until end of August. Some years has been the first week in September. Last year was Aug 30.
not all expenses are cash related. Last qtr was GAAP 29c and they added $1.2M to cash. Stock options are a GAAP expense but don't cost the company cash. They in fact add to cash as employees exercise options. Depreciation and amortization of capex expenses are also non-cash. So the company buys a piece equipment and deducts only a portion of the cost over the expected life of the equipment each quarter.
So if using last qtrs numbers (29c GAAP and added $1.2M to cash (12c)), the company is cash flow neutral at 17c GAAP.
$13M revenue and 25c GAAP, $600K added to cash
last year's qtr was $11.7M rev and 31c GAAP (half of the GAAP profits were due to a non-cash, $1.3M (16c) one time tax thing)
The open positions were for Analytics front and back end, Account Managers and some other technical spots in Texas (AI). Didn't seem like ZIP integration positions.
In the latest Avis presentations, all they want to talk about is ZIP. It dominates their presentation and discussions. Hard to believe that the ZIP system does not log fuel readings. How could they ever verify if people were filling up or not?
split adjusted, SLW bought in at $7.50. At the time they bought in, the Troy mine was barely operating and was losing money on every ounce mined. SLW bought in for the Rock Creek mine potential. Rock Creek was not even as far along as it is now. RVM might be better off to just shut the Troy mine, lay off all the miners and just go after Rock Creek. They could sell all the Troy mining equipment and add to their cash pile. The stock would probably go up in that scenario.
new position now added that was not there before. Hiring is on fire at IDSY. Expenses will be up about 10%. What gives?