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Pro-Dex Inc. Message Board

hokieincanecountry 42 posts  |  Last Activity: Oct 21, 2014 11:48 AM Member since: Jul 21, 1999
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  • Reply to

    Ordered to pay $5 million to old CEO?

    by kc_granite Oct 20, 2014 2:10 PM
    hokieincanecountry hokieincanecountry Oct 21, 2014 11:48 AM Flag

    So, why would the insurance carrier, where the total of the arbitration award plus interest and attorney fees is within the limits of the policy, deny that there is coverage?

    Sentiment: Hold

  • Reply to

    No Recent Forms 4

    by hokieincanecountry Oct 7, 2014 10:45 AM
    hokieincanecountry hokieincanecountry Oct 7, 2014 2:25 PM Flag

    Yes, I see the Form 4 filed late this morning. Apparently, there is no restriction currently for Swenson to continue to add to holdings.

    Sentiment: Buy

  • hokieincanecountry by hokieincanecountry Oct 7, 2014 10:45 AM Flag

    Swenson has not filed a Form 4 since Oct. 2 when he reported acquiring 2,400 shares on Oct. 1. It could be that Swenson is now in a black out period, as he probably now has some insider knowledge of fiscal Q2 performance for AIRT. Most CEO's would receive some indication of estimated revenues and/or profitability by division by the second or third work day of the new quarter.

    Sentiment: Buy

  • hokieincanecountry by hokieincanecountry Oct 6, 2014 1:41 PM Flag

    It's interesting to note that just about a year ago, this stock was trading for less than $10.00 per share.

    Sentiment: Buy

  • The trailing twelve months (ttm) earnings have now been corrected to $1.36 (from $1.25). Even at the current valuation, the P/E ratio for BDL is low (at 14.8) compared to most restaurant stocks. Last year BDL earned only $0.12 in fiscal Q4; this should be easy to exceed this year.

    BDL could be a valuable holding for a large restaurant group (such as BLMN, EAT, BH, BJRI, etc.), as it is a proven concept, is profitable, is expandable, and is appealing to the customer. Restaurant groups are now looking to grow via acquisitions (of other chains). The BDL concept could be grown to over 800 units worldwide.

    Sentiment: Buy

  • Reply to

    Question Number 1 For Peter Wortel

    by hokieincanecountry Sep 12, 2014 6:22 AM
    hokieincanecountry hokieincanecountry Sep 25, 2014 10:08 AM Flag

    Peter Wortel, I have included my five questions posted below (as using the AER "Contact Us" button apparently does not work). See my prior email reporting my numerous attempts in this regard. You can provide answers to my five detailed questions in this venue, as I am sure that many readers of this message board also want to hear your answers.

    Sentiment: Hold

  • Reply to

    Swenson Price Paid On Friday, Sept 12

    by hokieincanecountry Sep 14, 2014 10:02 AM
    hokieincanecountry hokieincanecountry Sep 24, 2014 4:16 PM Flag

    Per the Form 4 filed today (Sep 24), Swenson paid as high as $13.22 for some shares acquired yesterday (Sep 23). He's now at 600,191 shares owned.

    Sentiment: Buy

  • Reply to

    New High At $17.00

    by hokieincanecountry Sep 8, 2014 3:42 PM
    hokieincanecountry hokieincanecountry Sep 22, 2014 4:15 PM Flag

    chol... Another new high of $18.91 at 3:54 PM near close today. Do you think that groovy... ever went long?

    This stock is still not that expensive (based on P/E ratios or Price-To-Book ratios) compared to other restaurant stocks; it may be that the value is finally being recognized. On the other hand, I noticed that for most of last week there was a big buy order (started as nearly 10,000 shares at a bid of $16.99); the buyer picked off shares a hundred at a time, but by Friday, the buyer raised the bid to 7,400 at $17.01 per share. So this is unusual. It could be a fund or a major holder adding; it could be a merger or deal coming. I added 2,000 at $17.00 per share.

    If my last name were Flanigan, I would have done a "buy out" when the stock was $12 to $14. BDL should easily exceed last year's earnings for fiscal Q4.

    Sentiment: Buy

  • hokieincanecountry by hokieincanecountry Sep 16, 2014 8:03 AM Flag

    The line of credit with Bank Of America was amended to increase the limit to $9 million, but it goes back down to the original limit of $7 million at the end of this year. Very strange!!

    Sentiment: Buy

  • hokieincanecountry by hokieincanecountry Sep 14, 2014 10:02 AM Flag

    Swenson filed another Form 4 on Friday, Sept 12 reporting 4,500 shares acquired (also on Sept 12) at $12.27 to $12.96 per share. It's good to see him pay up to $12.96 for the stock. I added another 2,000 shares on Sept 8 through Sept 11 at $11.53 to $12.04 per share.

    Sentiment: Buy

  • hokieincanecountry by hokieincanecountry Sep 12, 2014 6:47 AM Flag

    AER distributed an Information Memorandum to existing shareholders to explain the ILFC deal, but did not distribute a copy of the Share Purchase Agreement. Will AER send me a copy of the Share Purchase Agreement?

    Sentiment: Hold

  • hokieincanecountry by hokieincanecountry Sep 12, 2014 6:45 AM Flag

    Did AER carry out its fiduciary duties to existing AER shareholders in negotiating the Share Purchase Agreement with AIG? The closing price of AER on November 22, 2013 (before the rumors of a deal started to leak out, and the stock began its rise) was $20.71 per share. If a price collar top of $25 per share had been negotiated, I compute that AER would have issued only 52,359,800 shares (rather than the actual of 97,560,976) based on the closing price of $46.59 on May 14, 2014 (the date of closing). Note that with a $25 top-of-collar, the AER stock would have probably traded higher on the date of closing due to the market recognition of the substantially lower dilution to existing shareholders. The actual dilution to existing AER shareholders was probably within the range of 25% to 35% in the absence of a $25 top-of-collar.

    Sentiment: Hold

  • hokieincanecountry by hokieincanecountry Sep 12, 2014 6:26 AM Flag

    Who was the financial advisor (investment bank) for AER? Did the financial advisor ever recommend that a price collar be included in the deal?

    Sentiment: Hold

  • hokieincanecountry by hokieincanecountry Sep 12, 2014 6:24 AM Flag

    Did AER ever seek to include a price collar on the AER stock price in the Share Purchase Agreement with AIG? If not, why not?

    Sentiment: Hold

  • hokieincanecountry by hokieincanecountry Sep 12, 2014 6:22 AM Flag

    Under what provision(s) does the Share Purchase Agreement (with AIG) result in an adjusted number of shares being issued.

    Sentiment: Hold

  • Reply to

    Waha Capital Deal

    by hokieincanecountry Sep 3, 2014 6:43 AM
    hokieincanecountry hokieincanecountry Sep 12, 2014 6:13 AM Flag

    Peter Wortel, I used the "Contact Us" button on the AER website as you suggested, but the same thing happened as in numerous tries last January; after entering all requested data and my message, upon clicking on the send message button, the response was: "Invalid Data GET"

    So it appears that the only way to communicate with you is by using this website. I will ask my questions here, and request that you give answers.

    Sentiment: Hold

  • hokieincanecountry by hokieincanecountry Sep 8, 2014 3:42 PM Flag

    We made a new all-time high today at $17.00 per share.

    Sentiment: Buy

  • Reply to

    Waha Capital Deal

    by hokieincanecountry Sep 3, 2014 6:43 AM
    hokieincanecountry hokieincanecountry Sep 7, 2014 10:17 AM Flag

    Peter Wortel, did you receive my email string sent last Thursday? Please advise!!

    Sentiment: Hold

  • Reply to

    Waha Capital Deal

    by hokieincanecountry Sep 3, 2014 6:43 AM
    hokieincanecountry hokieincanecountry Sep 4, 2014 11:27 AM Flag

    OK Peter. Check your email inbox again and look at emails that your system may have dumped (e.g. mine). I sent you five minutes ago the email string (4 emails) with my questions going back to January 13, 2014.

    Sentiment: Hold

  • Reply to

    Waha Capital Deal

    by hokieincanecountry Sep 3, 2014 6:43 AM
    hokieincanecountry hokieincanecountry Sep 3, 2014 3:48 PM Flag

    airlease... I do not know if the AER financial adviser even suggested the inclusion of a price collar in the ILFC deal, or if AER tried to negotiate one, because Peter Wortel has still not responded to any of my three emails (in Jan, Feb and Aug) to answer any of my questions. The way I saw it, AIG had seen its potential deal with the Chinese fall apart for almost a year, with deadline after deadline missed. In my opinion, AIG was not in a strong bargaining position, and Bob Benmosche had promised to his Board and shareholders that he would dispose of ILFC promptly. As we learned more recently, he was also dying. The other option was a public offering. AER's offer was a better price (even with the AER stock in the $20's) than the Chinese had offered.

    In my opinion, "not the smartest guys on the block." I will rank the Waha Captial people somewhat smarter.

    Sentiment: Hold

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