no one knows what is going on. I tend to think if things were really bad, volume would be huge. These guys could never keep their mouths shut.
So as far as buying, why take the risk before tonight? Seriously, unless the price was like $4, why would you buy today?
"Less than $10mm is my guess. Plus, no guidance and nothing good about Avis. Low $5's tomorrow."
possible, but not probable in my mind. If this was the case, I would dump and not look back. There are thousands of better companies. In my mind, the only appeal would be waiting for a buyout or sell off of assets. I can't see why anyone would stick around. I can't see why they would bother with Roth conference or even having a CC for that matter.
Revenue could be anywhere. mjw thinks Jagid quit cause numbers were terrible. Could be. I don't discount anything with these guys. Based on announced sales, I can't see less than $8M
I'm thinking revenue on the order of $11M and cash flow break even (they typically get about $300K in tax loss carry forward sales to NJ in Q4). I think anything better than that and it is an upward surprise
Jagid said talks with Avis were over price and quantity. Maybe the BOD is willing to take a lower price and margin to get something done. Who knows? Tonight will be telling
Also looking to see if Ned is on the call or the Controller. If it was me, I'd have Ned out the door as soon as the 10K was complete.
I haven't voted for any of them or their compensation packages in years.
FYI - when you delete your posts it kind of sux as the replies get deleted to
starting with Monaco (possible conflict of interest) and Bernstein (too old)
Copperman is OK (he was on EDGR BOD)
the new guy needs a chance
The company needs an investor(s) on the BOD. Someone who will hold them accountable. A mini-Carl Icahn type. Someone who expects results and gets rid of those who don't perform
Many of these get graded by PCGS
U.S. Mint to resume selling platinum coins
1:10 p.m. CST, March 5, 2014
The U.S. Mint said it will resume selling its American Eagle platinum bullion coins on March 10, ending a four-year exit from the market, due to renewed interest from investors and dealers.
The U.S. Mint will offer the platinum bullion coins at a 4 percent premium over the spot price. Only 1-ounce coins will be sold, the Mint told authorized dealers in an email on Tuesday that was seen by Reuters.
Tom Jurkowsky, U.S. Mint's director of corporate communications, told Reuters the Mint notified its authorized purchasers about the platinum coin sales on Tuesday.
The Mint has built up an inventory ahead of the coins going on sale, the email said.
Michael Kramer, president of Manfra, Tordella & Brookes, a major U.S. coin wholesaler in New York, said dealers have already received significant advanced orders following Tuesday's notice.
"We have already sold 1,000 of them without even trying," he said.
The Mint stopped producing platinum bullion coins in 2008 as collectors and retail investors bought fewer coins after prices soared at the start of that year. Interest turned to gold coins as a safe-haven investment later that year at the height of the world economic crisis.
I disagree. they don't have the money to hire a CEO and pay $500K/yr. Go with the interim folks they have and stabilize the business so they are no longer bleeding cash and on the edge of forced BK from creditors
knowing their history though, I would not discount any scenario. It's probably good to be mentally prepared for the worst.
I will even go on to say that Jagid made false and misleading statements that will be fodder for shareholder lawsuits. He should be barred from being an officer in a public company
the company was banking on Avis. all the hiring they did was based on Avis
Botching that negates everything. A 2+ year non-compete was egregious for a technology company. That alone is a fireable offense. Letting Avis take 4999 units and then hold off on the 5000th unit for 9 months another egregious mistake. He even stated on CC's and in SEC docs that 5000 units were delivered in Dec 2012. Then he goes on and states that Avis is not doing anything nefarious. BS!! Strike 3.
All indications were that Q4 was acceptable (ie $11M+). Many deals were announced including $400K with USPS. Ehrman even said USPS was using Analytics (they 5000 vehicles). DoD had even progressed. New customers were announced. Europe appears strong.
But losing Avis is like going 4-4 in a baseball game and then striking out with the bases loaded, down by 1, with two outs in the ninth.
If Q4 was bad, Q1 was bad, and Avis was lost, why or why would they go to Roth Conference?
Avis is probably dead and Jagid staked his entire reputation on that. Maybe some board members wanted to sue.
Another poster suggested that Jagid wanted to buy Skybitz (we have that $60M shelf offering) and the BOD said no.
Other possibilities are the company is being approached for sale or sale of some assets and Jagid was in the way of that.
Whatever it was, Jagid did not do the job over his time. He destroyed wealth. He acted too timidly. He held the company back. He couldn't even give guidance. It was time for him to go and it is a good thing for shareholders. I just hope I don't read in some SEC doc that he is walking away with 1 years severance.
I don't see where they meet continued listing standards even without more losses
thing is, this could go to $8 before earnings and then crash all the way back down to $2 when they show a loss and out of cash and near BK
I choose not to play that game
Distributions that qualify as a return of capital are not dividends. A return of capital is a return of some or all of your investment in the stock of the company. A return of capital reduces the basis of your stock. For information on Basis of Assets, refer to Topic 703. A distribution generally qualifies as a return of capital if the corporation making the distribution does not have any accumulated or current year earnings and profits. Once the basis of your stock has been reduced to zero, any further non-dividend distribution is capital gain.
I disagree. Just nervous nellies are selling. Volume is light, almost negligible.
Short term pain for potential long term gain.