I have never seen a deal, even for financing that would take the stock down deliberately by 24%. I am voting no.
The agreement tries to say it is a good price because it is a premium to the 90 average price! But going back to the middle of May 1st (about 120 days), the average price has to be closer to .34 which would make this a 20% DISCOUNT. It is apparent to me that these fellas need a refresher course in basic math. No deal at all, would be better than this one. This deal should be avoided like a hot pile of dog p**p on the sidewalk.
Fire the screwballs who agreed to this! Their commitment is to shareholders. This deal screws shareholder up the you know what. It blatantly decreases the value of the company. Were they drugged? Threatened? I could have easily advised them for nothing how to bring this up to a dollar in two years. What the hell is going on there. Check the director's bank accounts. Maybe they have been paid off. Idiotic.
With a PE of 180 and forward PE of 54 the expecations on ERB are a little high right now, maybe a little too high. CONX is relatively a better value with positive cash flow (unlike ERB) and earnings, and a trailing PE about the same as ERB's forward one. Stick with the one with less hype because hype is like hot air.
Today from CNN: "It's even worse than I'd feared," Dr. Tom Frieden, director of the Centers for Disease Control and Prevention, said Wednesday of the Ebola outbreak rampaging through West Africa. "Every day this outbreak goes on, it increases the risk for another export to another country. "The sooner the world comes together to help Liberia and West Africans, the safer we will all be." Frieden spoke to CNN's Nima Elbagir in Monrovia, Liberia, where fear and anger over the largest Ebola outbreak on record has grown as health officials put up quarantines around some of the capital city's poorest areas.More than 2,600 people have been infected by Ebola in Liberia, Guinea, Sierra Leone and Nigeria since the outbreak began in December, according to the World Health Organization. Nearly 1,500 have died."
That means the number of fatalities from this outbreak which began roughly 8 months ago has about doubled in the last three weeks. Is it spreading faster the more people who get it? Also: ' Between July 28 and August 18, a total of 24 suspected cases of an unidentified hemorrhagic fever, including 13 deaths, have been identified, WHO said. Looks like Ebola crisis is not over.
I hope CONX perfects their test kit before it gets to my neighborhood! I also hope they can ramp up production of the drug that cured the 2 Americans.
Never understood the bio-tech mindset. Most of them are money pits. Agenus has about $650 million in losses over time and the operating losses are on the increase. Are you hoping to strike gold? You would have to come up with something extremely highly lucrative. Any rallies in the sector are 99% lottery tickets. I would not put that kind of money at that kind of risk. Good luck. Glad I got out a long time ago when it was over 5. Look at the Max chart. Looks like they aren't delivering to shareholders over the long term. How far can it drop? 0. I have seen these typses of companies that have hopes and operations up the kazoo and they never even come close to seeing the light of day regarding earnings. They live off people with money and stars in their eyes. This is JMO so do what you think is right for you. I steer clear from this stuff as I would rather own companies that are growing, with earnings, positive cash flow etc.. or actually have a great technology already and are at least in late development stage. They have been doing a lot better for me in general.
according to a recent blurb: Blackstone's been buying single family rentals, probably foreclosures, through Invitation Homes in Chicago? Just Chicago, Anywhere else? "Blackstone accounted for 18 percent of all single-family home sales in Oak Forest during 2013, IHS found. In one Oak Forest census tract, around Central Avenue and Victoria Drive, it was the buyer in 28 percent of all single-family home sales that year. Since 2012, Blackstone's entities have bought 86 homes in Oak Forest, including 57 in 2013 and 20 this year, said an Invitation Homes spokeswoman.IHS also found that Blackstone acquired 111 homes in Oak Lawn last year, accounting for 15.5 percent of all sales in the suburb and more than 20 percent in some census tracts there. In the Galewood section of the city's Austin neighborhood, Blackstone's 19 purchases were 22.4 percent of all home sales during the year. 'A MATTER OF SUPPLY AND VALUE'/
The locations where Blackstone bought “were basically a matter of supply and value,” the Invitation Homes spokeswoman said. “These are established areas where people want to live.” But last year is likely to be the peak for Blackstone's acquisitions here, as the firm has cut way back on purchases in 2014, Mr. Smith said. Big investors' multiple purchases “acted as a fill-in situation at a time when there were almost no transactions going on in our city,” said Adam Dotson, the community development director in Oak Forest.With 86 houses in Oak Forest, Blackstone owns about 1 percent of the suburb's estimated 8,600 housing units, Mr.Dotson said. “That's not a big enough share to worry about them” having too much control over the market, he said."
Blackstone's acquisition side was “taking advantage of affordable price points,” Mr. Smith said. “They went to places where there is decent, cheap housing stock available and a demand for rentals.”
- probably smart -the housing market is still weak and rental market is strong
Check their financials - they have positive cash flow and earnings and over 5 million in current assets. No need to dilute. Also Ebola is not over. World is overcrowded, and outbreaks are harder to contain as you see since a few weeks ago fatalities have doubled to over 1400. The more people who get infected to it seems to get more difficult to control. Your misinformation is a disservice to readers of the board here. What are you trying to accomplish?
United States Patent 8,816,332
Forrest , et al. August 26, 2014
Organic photovoltaic cell incorporating electron conducting exciton blocking layers
The present disclosure relates to photosensitive optoelectronic devices including a compound blocking layer located between an acceptor material and a cathode, the compound blocking layer including: at least one electron conducting material, and at least one wide-gap electron conducting exciton blocking layer. For example, 3,4,9,10 perylenetetracarboxylic bisbenzimidazole (PTCBI) and 1,4,5,8-napthalene-tetracarboxylic-dianhydride (NTCDA) function as electron conducting and exciton blocking layers when interposed between the acceptor layer and cathode. Both materials serve as efficient electron conductors, leading to a fill factor as high as 0.70. By using an NTCDA/PTCBI compound blocking layer structure increased power conversion efficiency is achieved, compared to an analogous device using a conventional blocking layers shown to conduct electrons via damage-induced midgap states.
United States Patent 8,815,415
Tsai , et al. August 26, 2014
Blue emitter with high efficiency based on imidazo[1,2-f] phenanthridine iridium complexes
Imidazo[1,2-f]phenanthridine compounds are provided. The compounds have a twisted aryl moiety further substituted by alkyl having four or more atoms. The compounds may be used in organic light emitting devices, particularly as emissive dopants, providing devices with improved efficiency, stability, and manufacturing. In particular, the compounds provided herein may be used in blue devices having high efficiency.
United States Patent 8,815,411
Forrest , et al. August 26, 2014
Stable blue phosphorescent organic light emitting devices
Novel combination of materials and device architectures for organic light emitting devices is provided. An organic light emitting device, is provided, having an anode, a cathode, and an emissive layer disposed between the anode and the cathode. The emissive layer includes a host and a phosphorescent emissive dopant having a peak emissive wavelength less than 500 nm, and a radiative phosphorescent lifetime less than 1 microsecond. Preferably, the phosphorescent emissive dopant includes a ligand having a carbazole group.
Also saw this (blackstone related): From GLobestdotcom: "LONDON—Blackstone Group LP is said to be in negotiations to back a Hong Kong-based distressed fund started by a former global head of Goldman Sachs Group Inc. Special Situations Group. Bloomberg News says the fund, Arkkan Capital Management Ltd., started by GS alum Jason Brown, will concentrate on Asian opportunities with the flexibility to invest globally. Bloomberg said the information came from multiple sources who asked not to be identified. It would be the second time Blackstone backs an Asia-based hedge fund since the 2008 global financial crisis. Arkkan is said to be enlisting support from the world’s largest manager of alternative investments to help attract other big institutional investors. Blackstone’s backing of Hong Kong-based Senrigan Capital Group Ltd. allowed it to grow assets to more than $1 billion in less than two years"
According to Dealcurrysotcom:"Blackstone is likely to pick up close to 50% stake in Embassy Services Private Limited for INR 4,000 Mn as the duo prepare to list their real estate portfolios through the REIT structure. Formed in 2000, Embassy Services Pvt. Ltd operates as the property management arm of @Embassy_Property Private Limited and oversees office and residential project being developed by Embassy. Embassy has prepared a portfolio of commercial assets in Bangalore, Chennai and Pune to list ther REIT. With SEBI requiring at least 80% of the properties in the SPV should be complete and rent-generating, the partners have four projects ready for lising; Embassy Golf Links, Manyata Tech Park and Embassy Tech Village in Bangalore and Embassy Tech Zone in Pune.The SPV plans to hike the rentals from INR 8 Bn from 24 million sq. ft of space to INR 10 Bn.
Embassy and Blackstone have a joint portfolio of over 16 million square feet of office space in Bangalore and Pune housing tenants like Microsoft, IBM and Goldman Sachs and with this REIT is likely to have a value of $2 Bn on the stock exchanges when it puts up for listing in 2015. In 2012, Blackstone paid $200 Mn for a 50% stake in three office assets managed and owned by Embassy and mainly located in Bangalore. -LiveMint"
I bought more today. Thanks - good board here. Also great stock to own long term (cashed out of my FTR, took profit to buy BX because I think BX has better dividends and better growth long term though a little more volatile - I see bigger gains and almost no downside at this point).
During the meeting at PepsiCo China R&D center in Shanghai, Management was informed that PepsiCo China and Tingyi are ready to launch The Answer® in the very near future. Moreover, PepsiCo R&D presented some new products developed specifically for The Answer® program. The head of R&D said that PepsiCo is “extremely grateful and appreciative for the immense patience IDC has exhibited” and that Tingyi’s Chairman is “ready to move.”
Management also had high-level meetings with The Coca-Cola Company, Nestlé, and Huiyuan (the largest privately-owned juice company in China), all of which have led to follow-up discussions.
The Company also established a strategic co-packing and product development alliance with Doehler China, a German based co-packer with a strong China presence and customer base. Doehler China is engineering its BIB fillers to run The Answer®, and has agreed to conduct joint sales calls with IDC to promote The Answer® with its customers throughout China.
I have watched stocks for a long time,and have improved greatly in my returns over time. Average last 5 years is 29%, and my 1 year return is also 29%. I wondered why BX has fallen recently and I believe, aside from adjustments for dividends, it is probably profit taking. BX has almost doubled in a year. But it doubled for good reasons and the higher prices are justified. Yes I read the 10-Q. I think we will see strong support very soon and will be basing around the 50MDA if we get there. There could be an interested buyer trying to shake out loose hands, but I doubt it. BX is too liquid. I bought 500 shares yesterday. I think it could drop a little in the short term, but could turn around at any time. Interest rates are not much a concern to me with the 10 year at 2.3 (when I checked a day or 2 ago). If the Fed raises rates mid 2015, I expect they will still remain relatively at historic lows. Private equity environment is improving. BX could easily double again in the next 2 years. Even if it takes 3, there is also the 4% dividend to chew on in the meantime. Who the hell would sell it, unless they were in dire need of cash or had a better place to park their money for 2 years, but the latter is not very likely at least in the Financial sector.
I have a little over 17600 and was thinking of putting in an order to buy 2400 shares FIG. Do you think that will be a relatively safe place to park this for a while 24 months for example? thanks , J - have nothing in the financial sector and this looked similar but a little more interesting to me than BX. I am only hesitant because stock seems to be drifting and recently fell below 200 mda but is still above 50 mda which is rising and this has acted as general support on the last two dips.
But all their publicity about sub prime involvement and 'no skin in the game' article for example, could they not turn into another Lehman brothers?