RB4 was disastrous, and led MCZ to incur a minimum of three million in restructuring which we all know will be higher. Plus it forced them to raise money in a secondary, and increase debt and interest payments for the forseeable future. They definitely lost bigtime on RB 4.
....if you account for the past two quarters earnings, factored against the restructuring charges and cash they raised in the secondary. They actually lost money on this event. Unbelievable.
...MCZ is a joke.
Pleeeze, I'm not allowed to comment on poor results? Sorry, but sometimes you gotta look at reality. I am stating truth, and I'm not real happy about it. There aint no flip side to this coin.
a8bil, I'm not assuming the death of the gaming industry. Gaming will flourish in new ways. Legacy peripherals, in particular the the commoditized types MCZ specializes in such as headsets and gaming mice and flight sticks are destined to have a profitless future. MCZ has shown during these past few years that it doesnt have the vision or ability to break into new sectors. MCZ is a company for legacy gaming on xbox's and playstations and large personal computers. It has not found a profitable route away from this shrinking market, all imo.
could be anything. Some WAGS...
Delay in Earnings release due to some sort of Funkiness (as mentoined by others)
Health Issue With CEO
Bank Default Issue
Big Contract Announcement
Weak? It was way less than weak....it was completely meaningless. I know SA makes its money by having longs pump and shorts wack, so you always have to read knowing theirs some (or lots of) bias.....but still, you can get good info and ideas out of some 'articles'.
But geeze, how do the editors allow such a silly and insignificant piece like this get published. A hit piece saying NAII's press release about some patent was actually done a few weeks after the patent was issued? OMG.
Woodward and Bernstein they ain't.
a8bil, RB 4 is for the most part a one time event. Look at all their legacy product. The sales trajctories of these mainstay products (headsets, mice, etc) over the last several years continue do go down, along with their margins, as competition has increased dramatically (particularly in headsets), and their universe of users is shrinking. MCZ is a legacy business in a legacy market. Streamlining certainly helps, but it will not make they viable, imo.
hope, when I said 'due to funkiness', I meant due to accounting issues that they found as they prepared the 10q. Anyway, I've seen stocks halted for all the issues I mentioned.
Cost cutting might have brought them up to .02/share for the quarter, imo. I mean they were basically break even for the quarter once you ex out the one time $1.2 million dollar gain due to 'change in fair value of warrant liabilities'.
re: " What you should worry about is why is getting as much support as he's getting"
Sanders is getting support because Hillary is perceived to have virtually no integrity by a large portion of the public, even a significant percent of Democrats. Meanwhile, Bernie, while his promises may not lead to anything, is perceived to be uncorruptible, forthright, and has integrity up the wazoo. He says what he believes while she schemes.
what a great move. My shares are all in the black now....averaged down a ton, and have sold most now. Hope to get another shot at some real cheapies, but I doubt it. Amazing move.
..really not just the quarter, lots of positives for the future. Perhaps we are finally seeing that inflection point in SCKT's business.
And great job southacres!!!!
And hello lfish.
I have never understood the interest in this one, at least at anything over the low ones. Its in an very competitive business, which it seems to me, in the long run, cant do well. Management has been able to put together the occasional big quarter, making for some great trades. But while smart management can at times take advantage of some market inefficiencies to make good money on a random quarter or two...then the competitive nature of cell phone sales overwhelm them, and for the most part this leads to a money losing entity.
What I really dont get, is the huge up moves that this makes when it sports a solid quarter. I mean everyone knows it cant last, right? Yet, this one keeps on getting bid up. And itll probably move up higher the it is right now since an outlier good qtr is probably out there somewhere in the future.
I see there are some very smart investors who have made wads of cash on this one, and in the trading game that is what makes you right, and I admit I've been very wrong before. Just dont understand the interest, nor the volume.
And who was buying at the open at $1.49?
I have no position, and therefore shouldnt really be badmouthing IFON....and I wont continue to do so. Again, overall, I'm the one who's been wrong for the most part on IFON.
1. I dont think todays events were planned...noone, not the company nor the Stock Exchange wants to halt trading for an extended period intraday. Now maybe there was a discussion between execs and board members for a long time regarding some issues, but it seems like something happened to at minimum accelerate events.
2. I dont know why they announced the promotions into CEO, CFO and Chief Consul so quickly, except to make this crazy transition a bit less anxious for shareholders, and allay some the concerns that the company was in a state of disarray. I agree that it makes more sense to appoint her in to an interim position, but perhaps she refused to accept any title with interim in front, and they had no other options.
3. I dont think the two million shares is pertinent. After all, it only totals what, two or three percent of the shares outstanding. That sounds insignificant to me.
I am often wrong, and could be on everything I wrote above. We do know that more info will be out tomorrow.
uptab, its not always as easy as you make it out to be, at least for the individual investor. But first, I'm not claiming MCZ will go to zero.
Shorting is not necessarily so easy. For instance, when I checked a few weeks back with TDAmeriturd when MCZ was in the very high twenties, there were no shares available at TDAmeriturd to short MCZ. (I'm not saying I would have shorted, I was thinking just looking at the situation).
Now you can't short in retirement accounts, so for me that leaves out at Fidelity.
I believe Interactive Brokers had shares available to short of MCZ back when it approached .30, but not that many. And I dont like to short when not many shares are available b/c the broker can call in the stock at any time....they can force you to cover your short up or down w/o your approval at any time if they dont have the required shares on a given day.
Right now Ameriturd has zero shares of MCZ available for shorting.
It was like RB4 wasn't a big event for her. Sure, you have to look ahead and and be excited about your new product lines going forward.....mice and sticks and headsets and all that, but this quarter was all about rb4. And she glossed over it, like it wasnt her problem. And even then, the margin deficiency wasnt so much MCZ's fault as it was events beyond their control. Like Guitar Hero discounting. The CFO couldnt figure out that Guitar Hero might discount their products in the xmas season???
There's just more to it than that. I mean Guitar Hero was no surprise...they even stated in prior calls that they felt Guitar Hero would help them b/c they had a relatively small marketing budget while GH would help the entire category by getting the news out to everyone that the musical sector was alive again. And then they were surprised that GH were very competitive? C'mon.
Maybe, their product wasnt all that great......it had very mixed reviews to say the least, their own pricing strategy failed, they had product reliablility problems....yada yada yada. And the CFO should take some responsibility for their strategies and selling points...it wasnt just Darren.
Karen should have spent more time reviewing what exactly went wrong with RB4.
The decision to not use the ATM was a poor one. She could have been selling shares at .42 just weeks back, and own that cash now when the stock is in the twenties, at a time MCZ needs cash for restructuring, debt repayment, and operations.
Karen seems good to me at managing the balance sheet and income statement. She sure doesnt sound like a closer to me, based on her less than inspiring conference call, a few months back. She also doesnt seem like a good salesman....but again, thats just based on her personality from the conf call.
I guess we shall see whether she can sell product over the next year plus. Problem is the product probably isnt too good since it hasnt sold well in a while.