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Swisher Hygiene Inc. Message Board

iyel 6 posts  |  Last Activity: Aug 15, 2014 1:18 PM Member since: Dec 29, 1997
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  • Reply to

    12,000 shares

    by smashersok Aug 15, 2014 11:17 AM
    iyel iyel Aug 15, 2014 1:18 PM Flag

    Not that unusual. After the 1/10 reverse stock split this became a somewhat thinly traded common. If that seller wanted out and was willing to take whatever bid happened to be up on the board that is what will happen. You could see more of the same if more of those who owned the common pre-split decide that they have had enough and bail out. For the shareholders who owned this common when it really was $4.00 once upon a time they get it. The chances of them ever getting back their cost is slim. They may well move on.

  • Reply to

    Another step

    by pmdkia Jun 18, 2014 9:30 AM
    iyel iyel Aug 12, 2014 9:25 AM Flag

    Take away the asset impairment charge and that EBITDA doesn't look so great anymore. Their loss from continuing operations was over 15 million however they try to scrub it and they are still burning cash albeit less than previously. At the current burn rate they have until the have until the end of the year before they run out. It really is hard to be to overjoyed here.

  • Reply to

    Reverse Splits Are Kiss Of Death

    by docsavageinvestor Jun 10, 2014 11:48 PM
    iyel iyel Jun 11, 2014 10:32 AM Flag

    Messengers are not always popular. If you were one of the 80 or so small businesses who sold themselves to Swisher for mostly Swisher common in 2011 and 2012 you might agree with the content of the particular message. And it is 1/10 on the rss not the other way around.

  • iyel iyel Jun 10, 2014 1:42 PM Flag

    Well they didn't sell as the common dropped 97% from the former highs. If they think there is any any chance here of a turn-a-round they still sit on 35% of the common. Even though they are off the BOD they have plenty of clout behind the scenes. Oh I also believe that Wayne may actually control all of the 5 million since the last time I checked the filings it mentioned some if not all of Steves positions were being held as collateral for some other obligations. I don't know if that is still true. In any event if he owns or controls over a third here of the common it wouldn't take very much for him to once again have it all if he wanted to do a remake of what he did back in 2004 when he grabbed the then publicly traded Swisher on the cheap and took it private. Wayne H didn't get to become an icon by being nice.

  • iyel iyel Jun 10, 2014 12:16 PM Flag

    Absolutely ingenious way of putting it left. I am sure Wayne and Steve are up all night muttering to themselves about the misfortune that befell their once 50 million and now 5 million shares. 50 million shares worth three years ago over 500 million and now worth about 17.5 million. For the former Coolbrands shareholders like myself who inherited their Swisher shares and those who bought on the open market after November 2010 what you say is small comfort since in all likelihood they are never going to get back to break-even. Maybe those buying now might see a profit but with the company still losing money and still burning cash this could very very quickly be another one dollar common once again at which point we may start hearing about yet another reverse stock split. Swisher thus far has never shown it can make a buck both after the merger with Coolbrands and for the 6 years before back to when Wayne and Steve bought it the first time around and took it private.(in 2004) It always ran in the red and burned cash. That was the primary reason it merged with Coolbrands to begin with. Coolbrands was a shell corporation with 65 million in cash and a market listing. That saved Swisher at the time.

    By the way Wayne and Steve were given those 50 million shares by Coolbrands at the time of the merger. They paid zero out of pocket for them.

  • Reply to

    What is the Float?

    by yankdaskank Jun 3, 2014 10:30 AM

    Unfortunately the history of the reverse stock split proves to almost never be in the best interests of the pre-existing shareholders. As I had said previously I am a former Coolbrands shareholder and that one did just fine on the Non-Nasdaq. Swisher could have gone lever there cleaned up its operations(we hope) got the common back up over a buck and then looked for a relisting on Nasdaq. Our equity is preserved. Now with only a tenth the shares it will be far far more difficult to ever get back above water. If the common were trading at around 35 cents with no rss and suddenly operations were back on track that common could be a buck just like that. On the other hand if the common is $3.50 after a rss and operations are looking up do you really think that gets the common to say $10.00. Not a chance . Maybe 4 or 5 tops. The only ones who stand to ever do well here are the ones buying now. For them and maybe management who can always issue themselves new options etc to make up for the lost old options today becomes the first day of the new Swisher with 17..5 million shares outstanding. Sort of like an IPO. For them not us.

SWSH
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