Yup, this is the same guy that wrote this article on Oct 22, 2013
One's Heating Up, the Other's Cooling Off (MITK, RCON)
me thinks you should find out if the .05, 05, 07 and .03 are non-GAAP or GAAP. gotta straighten this thing out and start getting precise. :)
Oops, there was a Freudian, it was supposed to be freeholder
How many times did he purchase on open market?
How many times did he purchase options and sell on the same day?
"but that in no way reflects any lack of commitment to the Company because the personal position I have in this company is as one of its largest freeloaders and that will continue" :)
arnold, decent post, starting to use some data. however, Zaire is around 2%
However, your correct about North America having some of the lower grade stuff.
Gold, I assume you mean $6M, and, if they include ID checker your probably pretty close. However, will they "make any money?" like Mr. Wonderful asks.
One of my previous posts...................
ekretiree01 • May 12, 2015 10:45 AM Remove
I found the peg ratio for Mitek to be -4.19. It is a company that's losing money and then "grows" to lose less money, but is still losing money.
Year Earning Revenue
2010 -.04 5.1M
2011 -.01 10.2M
2012 -.31 9.1M
2013 -.26 14.8M
2014 -.17 19.2M Less
yes, I am very curious to see the balance sheet and whether or not the acquisition costs/ earning and new salaries from ID checker will be reported now or next qtr.
The USAA / Mitek lawsuits (settled) provided some limited insight into Mitek's pricing structure. One of Mitek's claims was USAA disclosure of pricing. It can be found in the public court documents. Attached shows some of the data.
Pricing (according to USAA)
Tier 1: 12 mo mva 0-5M transactions incr fee $54,600
Tier 2: 12 mo mva 5M - 10M transaction - incr fee $49,140
Tier 3: 12 mo mva 10M to 15M transactions - incr fee $47,145
I am a little confused about the recent bond purchase. Last year I read the Covenants of the FIFTH SUPPLEMENTAL INDENTURE Dated as of November 27, 2012. after open market purchase of secondary bonds.
ARTICLE 3 REDEMPTION Section 3.01 - 3.06 covers
Section 3.02 Optional Redemption.
(a) At any time prior to December 1, 2015, the Company may redeem the Notes, in whole but not in part, upon.......etc, etc.
(b) Prior to December 1, 2015, the Company may on any one or more occasions redeem up to 35% of the original aggregate principal amount of the Notes (calculated after giving effect to any issuance of Additional Notes) with the Net Cash Proceeds of one or more Equity Offerings at a redemption price equal to 109.75% of the aggregate principal amount thereof, etc, etc,
(c) Except pursuant to clause (a) or (b) of this Section 3.02 or pursuant to Section 3.04, the Notes shall not be redeemable at the Company’s option prior to December 1, 2015.
(d) On and after December 1, 2015, the Company may redeem the Notes, in whole or in part, upon not less than 30 nor more than 60 days’ written notice, etc, etc,
Year Percentage 2015 104.875%
2016 and thereafter 100.000%
(e) Any redemption pursuant to this Section 3.02 shall be made pursuant to the provisions of Sections 3.01 through 3.06 of the Base Indenture, as amended hereby.
(f) Any redemption notice in connection with this Section 3.02 may, at the Company’s discretion, be subject to one or more conditions precedent, including completion of an Equity Offering or other corporate transaction.
(g) The Company or its Affiliates may acquire Notes by means other than a redemption, whether by tender offer, open market purchases, negotiated transactions or otherwise, in accordance with applicable securities laws, so long as such acquisition does not otherwise violate the terms of this Indenture.
DID THEY VIOLATE INDENTURE TERMS?
Copper, I did what you said and came to the conclusion that your statements are based on relatively recent activity with limited volume. Overall, the history shows that TC more than likely received a fair price based on the volume purchased.
"Future interest savings from this repurchase to the December 2015 call date will be approximately $0.8 million, representing a net average purchase price of 1.024% of par compared to the call price of 1.04875% of par, with future interest savings to the December 2017 maturity date of $8.2 million."
IMO, this is a shameless form of piggybacking. Maybe next time they will send an email referencing Alibaba's "smile to pay".
"they indicated that they intended to respond to the notice within 10 business days of receipt."
That brings up an interesting point. They indicated 10 business days, 802.02 requires 10 days for Domestic and 802.03 indicates 30 days for Non-U.S. Companies.
Are they technically Canadian or U.S. Company. I thought they were a Canadian company?
Any odds on whether or not TC will reply
802.03 Continued Listing
Evaluation and Follow-up Procedures for Non-U.S. Companies
Within 30 business days after receipt of the letter, the company must contact the Exchange to confirm receipt of notification, discuss any possible financial data of which the Exchange may be unaware, and indicate whether or not it plans to present a Plan; otherwise, suspension and delisting procedures will commence. If the company submits a Plan, it must identify specific semi - annual milestones against which the Exchange will evaluate the company's progress.
But, what about my 1/2 Million Dollar balloon mortgage coming due. :)
I understand the balance sheet situation, was just speculating on TC's course of action(s). Obviously, they (should) have a plan B, C, etc. because the price of metals does not look good for the next year or so..........
And, they should explain their plan to the SEC within the next 30 days. Hopefully, it is not "we'll wait for the price of Moly and Copper to increase".
Remember, I AM long on this stock and just averaged down.