they just hope to sell the company for a few bucks as long as there are revenues left - the company is a complete trainwreck and you are down 80% and still think they invented the holy grail
might be - everyone is short already - but I will add to my short when others might want to cover today
Actually the magnitude of the revenue miss should disturb even die hard investors here and the conference call does nothing so far to reassure anyone that things might get better going forward with revenues for both soft- and hardware forecasted to remain very weak near term.
up $2 already - nice one
Revenue recognition delayed and will be delayed further leading to a huge revenue miss. Service revenues continue to go down. Hardware revenues poor.
With revenues still going down big time the company will have problems to stay meaningful. Sell.
They are taking the current (artificially inflated) market valuation of Tack Fiori and the shares that will be issued to them at a 15% discount in exchange for the FL mobile stake and arrive at the valuation. But this is just a sham as Tack Fiori is actually an empty shell. There is an article out on SA explaining the deal in detail.
I just shorted the shares around $6 actually - Tack Fiori has a small loss making clothing business and is basically an empty shell. The transaction is actually a reverse merger.
the whole transaction looks like another scam
SFC seeks disqualification orders against former chairman and executive directors of TACK FIORI
The Securities and Futures Commission (SFC) has commenced proceedings to disqualify four former directors of Tack Fat Group International Limited (Tack Fat or the Company), now known as TACK FIORI (00928.HK) 0.000 (0.000%) .
They are the Company’s former chairman and executive director Mr Kwok Wing, and former executive directors Mr Norman Ho Yik Kin, Ms Michelle Kwok Choi Ha and Mr Lam Yick Sing.
The first hearing of the petition was heard in the Court of First Instance today. The SFC alleges that:
1. The Company proposed to acquire a 40% interest in a timber company in Cambodia, shortly before the Company was placed into provisional liquidation, falsely announcing that the vendor was an independent third party when in fact the transaction was a sham involving an undisclosed connected party.
They try to but obviously things don't go too well given the latest stock price developments. Might be just tax selling but who knows. At least Vertex Capital averaged down on its holdings of ENTR - upped stake to 10%
Great news for investors but would short the shares here. Retailers obviously don't want to risk being out of stock on new IPhone items and ordered big time but this will lead to poor orders starting next quarter.
indeed there's a brand new article out on seekingalpha this morning shining some light on the SHERF story. Must read.
would firmly expect the shares to turn red this morning
CUBA is a simple fund which is ultimately bound to its net asset value over time. It's holdings look mostly conservative and most of them are actually not really Cuba related.
FUGI doesn't even exist - Yahoo profile adress and phone number do not work.
SHERF in fact is a very real $700 mln company despite acting in the heavily pressured energy and mining sector.
The companys Oil and Gas segment is involved in the exploration and development of oil and gas properties in Cuba, Spain, Pakistan, and the United Kingdom. Its Power segment constructs and operates electricity generating plants that provide electricity in Cuba; and owns an electricity generating plant in Madagascar. As of December 31, 2013, this segments power generation facilities located in Cuba had a total capacity of 356 megawatts. It operates primarily in Canada, Cuba, Madagascar, Europe, and Asia. Sherritt International Corporation was incorporated in 1995 and is headquartered in Toronto, Canada.