Actually they are paying to get rid of that Strongbox development obligations. So what does this say about their valuation of the product ?
they have resturctured the business since then and current expenses are just a fraction of the former run rate - but that doesn't mean that CRDS will show a profit in 2014. There might be some small positive cash flow but no chance for real profits.
The termination announcement is very negative as it just shows one more time how worthless the Strongbox product really is.
yeah - perhaps you might want to give him additional kudos for supporting his insider sale with some bogus pr about a tiny little order
guess the guy is looking to exit both its holdings and his job :-)
actually each and every analyst on the call was negative about the company's report and guidance - even worse management on the call sometimes had no real answers to problems which have been persisting for several quarters now. The ongoing execution issues are evidenced in the weak Q1 and FY14 eps guidance.
the company should be sold but I guess the CEO won't agree
I don't think the CEO's larger than life personality will ever allow him to sell the company - in his mind Tibco is still going to be the next SAP or Oracle
their so called "future products" like Spotfire are actually underperforming the legacy business - analysts pretty unhappy on the call. Q guidance below consensus and full year 2014 EPS guidance of "up high single to low double digits" also is below current analysts estimates.
in my view the company is completely worthless - moreover the ongoing notes conversion will bring the share price back below $1 which will make another reverse split necessary soon.
nothing was filed last night - Honig's tiny investment (140k shares) was filed on 11/27 with the SEC - and according to SEC documents he also holds 60k in the $3.4 mln convertible note which is now convertible at $0.20. It is all in the filings or why do you think the stock has tanked 50% on red hot Bitcoin news ?
old news and guess: Barry holds 60k in notes entitling him to cash in on 300k additional cheap shares at $0.20
my example shows a mistake
sales proceeds would be $750k and the gain would be $650k but it remains the same on a percentage basis
actually there's no need to cover as the shorted shares will be delivered from the note conversion - so there won't be any short squeeze
no - the Bitcoin acquisition will prevent the share price from going that low but frankly I don't know when this will settle. The conference call tomorrow might bring some new information.
clearly this is what happened today - noteholders hedging their gains by shorting the shares - nobody would resist a 700% gain I guess
actually the share price is under pressure from the note investors hedging their $0.20 shares against the current stock market price. By shorting the shares today they lock in their giant gains - they will later convert the notes and close out their short position by delivering the converted $0.20 shares. As there are 17,000,000 shares to be converted the share price should remain under pressure for some time.
I hold $ 100,000 in WPCS notes convertible into 500,000 new shares at $0.20 - so to lock in my gains I short 500,000 shares of WPCS on the Nasdaq stock exchange at about $1.70 for a $1.50 gain PER SHARE for total sales proceeds of $7.5 mln and a gain of $6.5 mln on my original investment of $1 mln.
That's what I call printing money.
The reduction of the note conversion price diluted shareholders by 95% so today's haircut does not look all that bad given what really happened.
which calculates to $30,000 per month - the company is a joke
stock not acting too well here - will remain short - stop buy at day highs
actually the article is cleverly written by suggesting RSOL will switch to the Solar City business model by partnering with a strong financing partner very soon and then drawing some valuation conclusions from this assumption. While I don't think this will happen the article will give the stock a boost today. Looking to cover my remaining short here.
yes - the assets belonged to two college graduates which agreed to sell them to the newly founded company