You used to go to Mariano's huh? When? I don't think you've ever had anything good to say about Mariano's or Roundys, so why would you have shopped there a lot?
Well, I'm sort of kidding... I know this company has real problems, and perhaps no real mines. But I was surprised that nobody is in their Seattle office to answer the phone.
I just tried to call the L&L Energy office at 206-264-8065, but the mailbox is full. Does anyone know why? I just wanted to ask them when the earnings report will be released. Their earnings reports always show a profit. I wonder how big it will be this quarter. Does anybody have a better phone number?
Also an opportunity to get a new chief design woman... maybe one that can increase sales this time.
Kabani & Co has audited the company's financial statements for the past several years. There have always been unqualified opinions. It seems kind of fishy to me that LLEN would have trouble collecting receivables just because their former CEO is now in a prison cell. Maybe there's more to it than that.
Does anyone think that maybe there might have been some errors in the financial statements that Kabani & Co didn't find in their audits? I hope that's not the case because they are CPAs and they should have been able to tie out all the bank balances, verify receivables, existence of mines, etc. If Kabani overlooked something that was wrong, they might be sued by angry investors who lost money. If LLEN doesn't really have any money, Kabani might have some.
Not a sermon, just a thought.
By the way, my sentiment is now "Sell". I sold this stock at .55 (huge loss) shortly after trading resumed. Lesson learned.
Thank you so much for your thoughtful reply. I will be looking for a filing by the end of next month. It will be interesting to see if LLEN gets an unqualified opinion this year after all the negative publicity with Mr. Lee. I hope the board of directors hires a new CEO soon.
Does anyone know if/when the new LLEN management team will be releasing earnings? If earnings are really good, maybe the stock will go up. I'm worried that maybe with Lee away, it might be delaying the report. I know they have a CFO, but Lee was a CPA and might have usually signed off first. The website for LLEN doesn't indicate a release date yet.
Oh yes, you're right. Details are a little fuzzy now, but wasn't PUDA bought out for $12/share a long time ago in similar circumstances? ...oh. wait.. was that ever finalized?
No, I own 4000 shares in my brokerage account. Average cost was about 5.00/share or so. So I have a fairly large loss. At this point, I'd like to wash my hands of this bad investment, but I'm long by choice. ie, can't sell it unless someone wants to somehow buy them in a private transaction.
I have some LLEN stock that I'd like to unload. Its worth a great deal to me as a tax loss at this point. So if any other longs would like to buy my 4000 shares in a private transaction, please send me a message. Does $1.00/share sound fair? Technically, I'm long, which makes me a rarity on this board now, since everyone else flew the coop.
Hooray for some good results! 1 penny beat! SEM is undervalued at the current levels, and its a BUY! Its also a good place to go for Rehab, which is a growing business as the population ages.
Oh, Hi Nuevom11.
Quite a bit of your information is factually incorrect. Here are the facts:
1) VLO has earned over the past 4 quarters: 1.82+1.18+.85+.57=4.42/share.
2) There weren't any "obvious items" that came out of those numbers. Those were simply the company's EPS. Valero didn't report "adjusted EPS" like some companies do.
3) Assuming 4th quarter earnings of 1.70/share (average of the range they provided today), the trailing 4 quarters' earnings are 4.30/share. Thats a P/E ratio of 12, not 17-18 as you stated
4) Valero last traded around $28/share on Nov 2, 2012. It has generally moved higher since then. That was 2 days after Valero reported a drop in earnings for 3Q2012, and a loss on their Ethanol segment (which has since returned to profitability.) That was also before Valero unlocked value by spinning off CST Brands. Interesting that as of Nov 2, 2012, the trailing 4 quarters' EPS at that time was only 2.04. So the argument that the stock price has doubled while earnings has dropped is factually incorrect because earnings have actually more than doubled.
I wouldn't be shorting this now. If anything, Valero has more room to run.