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Cray Inc. Message Board

equitiesresearchdotcom 4 posts  |  Last Activity: May 27, 2015 9:40 AM Member since: Aug 24, 2012
  • Reply to

    TITN MANAGEMENT

    by bobacequ May 25, 2015 11:39 PM
    equitiesresearchdotcom equitiesresearchdotcom May 27, 2015 9:40 AM Flag

    What is TITAN really? Nothing more than the Used Equipment and Parts. Why is Used Equipment and Parts company have $300 million mkt cap?
    They don't own property.
    They are on hook for taxes, insurance and maintenance of land they don't own.
    Auditing and Attorney Fees to stay public.
    Management makes a fortune,
    Salesman Make a Commission.
    2500 employees get paid.
    New Inventory is all borrowed and they pay interest on it.
    They owe WFC $150 big ones.
    They owe money (debt) against their inventory.

    A January 2008 IPO raising approx $60 million.

    A Spring 2011 Underwriting approx $60 million.

    A Spring 2012 $150 million Indenture.

    Management (& Family) Outside Entities make all the money:
    on leasing property to TITN.
    sales commissions
    underwriting fees
    mgmt sold stock annually
    having expenses, maintenance and fees on their outside entities properties paid by TITAN.
    Brother-in-law generating millions of dollars worth of construction fees (questionable if its even needed).

    Sentiment: Strong Sell

  • equitiesresearchdotcom equitiesresearchdotcom May 15, 2015 4:59 PM Flag

    Not bad. The Cow is not quite dry yet. That's $10,000 a week for next 33 months. If Titan didn't borrow the $150 million unsecured note in 2012 they would have ZERO CASH. They spend the money like they don't have to pay it back. The Chairman bragged recently that they average about $1.3 million in cash per location. What he failed to mention was that it is all borrowed monies that need to be paid back. Reality is that they don't even have enough cash to repay that $150 million note.

  • equitiesresearchdotcom by equitiesresearchdotcom May 12, 2015 1:26 PM Flag

    My tuesday morning blog post is now available for details.

    Sentiment: Strong Sell

  • from press release " Net loss attributable to common stockholders for fiscal 2015 was $31.6 million, or $1.51 per diluted share, compared to net income attributable to common stockholders of $8.7 million, or $0.41 per diluted share, for the prior year."

    Sentiment: Strong Sell

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