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
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.
Thats possible, but I've seen lots of tender offers by management that occurred while they were still in place, and the offer was brought to the board. Who knows. Only good thing is the CFO is still there, so that may mean that there were no problems with accounting funkiness.
have to say I'm kind of impressed by the lack of selling. I it opens up and only one big seller with maybe 3/4 hundred thousand shares, and the rest small stuff. Not that it means anything other than I'm pessimistic.
Is anyone buying here?
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.
..do they still make that .08 to .12/share that most think is in the bag (at least till yesterday)? And if they do hit those numbers, how high will this shoot up? At this point, I would imagine any large move towards .50 or more and many holders would luv to lighten or more.
What would a .06/share quarter mean? To me it probably means that RB 4 kinda failed, and other than a blip to help the March qtr, she's done. And then, imo, there really wouldnt be much reason to hold onto MCZ so long as the price wasnt ridiculously low....sell in the .20's or hold out to see if you get .30 - .40 on some Oculus hype.
A good quarter, and there's a good chance at getting out at a decent price. A bad quarter, and whats left is a poor performing company with a declining balance sheet, in one of the poorest performing industry groups (gaming peripherals) out there, with a management group in complete disarray.
...just four more hours till the show.
You could be right Micro. I really don't know the sector or players that might be interested well enuf, only that peripheral sales have been declining for years (in the sector and at MCZ). For me, I don't like investing in companies solely for the possibility that its value will attract an acquirer...unless it has some sort of amazing balance sheet.
....Bernie is a good man, and I agree 'he's honest and believes firmly in what believes.' Of course the same words could be said for Donald Rumsfeld, but his firm beliefs had disastrous consequences....perhaps like Bernie's would as well.
I think, over the years with dramatic competition in this sector, MCZ products (headsets as an example) have become commoditized, where only a few of the top top brands has any pricing ability. At the same time, competition and customer tastes has forced many to offer more and more skus of similar offerings, increasing costs....in categories that require large unit sales to reach profitability. MCZ's problem is it is living in a flat demand curve environment. I thought RB4 could change things for a short while at least. We'll see.
Just as many shares being bought and sold. But when many people say 'there are far more sellers', it really means that the transactions are taking place at the bid, while 'more buyers than sellers', means that transactions are taking place at the ask...imo.
...MCZ is a joke.
....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.
...they'd be in a much better position going forward if they just raised that cash in the ATM when MCZ was trading in the .40's. It would have helped them in their restructuring, debt payments, and interest rates....and perhaps help them stave off the unmentionable. They couldnt even figure that out.
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.
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.
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.
jazz, all the new executives are promotions from within. There's no new blood from the outside. Darren is gone, but do you have confidence in this current group?
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.
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.