Been going for a couple of days according to theotc.today. Convertibles out the wazoo. Continual pumping. And the suckers think they've found the Holy Grail. Unbelievable!
Actually, they do have clents other than INOL which, after delving into those clents, only shines more unfavorable light on Cemtrex's choosing BP&A as its accounting firm. Do a search of Gvura Corp and Asset Solutions. They seem to have been set up as shells with which scam companies can merge. Here's a good starting point:
"When a company is held by a small number of parties with large positions this is not a scam situation."
In fact, it often is. Many times scam companies either hold a majority of the common shares or hold preferred shares that give them controlling interest. Institutions and mutual funds hold only a little over 1% of Cemtrex's oustanding common shares. Aron and Saagar Govil hold approximately 65% of the voting equity. That's no problem if they are working in the best interests of shareholders, but your assumption that the company can't be a scam because insiders hold controlling interest is simply false.
Hearthstone was profitable. Dourney is working on Cosi's poor performers, salvaging the ones he can while probably closing most; and the growth strategy has begun. I wouldn't have touched Cosi before he became CEO, but he proved he could build and grow a successful franchise. I think the same business plan can make Cosi a success.
Good news today, and it will probably lead to further development in South America. Dourney is bringing the strategy he used to make Hearthstone a successful franchise to the entire company. The turnaround is going very well. I have no problem with increasing his salary.
Yahoo reposted 3rd qtr #'s on Feb 13. Someone on SI posted them as 4th qtr #'s. I checked Yahoo and didn't catch the mistake myself. Bottom line. Another blah qtr. It may be impossible to dump my position because of liquidity, but I'll move on if I get the chance. I don't even care to listen to Jankowski's spin tomorrow. It's getting old.
Well, I said Jankowski would have to bring in close to $2.8M to make me a believer again, and he delivered $2.785M. I guess I wait to see if he can show a profit next quarter.
I'm holding for the 4th qtr numbers. I think they will tell the tale, and I don't expect it to be anything other than more of the same. Jankowski says numbers will beat 4th qtr 2014 and show year over year growth. As little as $2.1M will accomplish that but isn't going to impress anyone. They have to bring in over $2.5M or that's the final straw for me, and the only way Jankowski makes me a believer again is to post close to 3rd qtr's $2.8M. Another month and I'll know if I've wasted years on this stock.
I stayed in because Jankowski was talking home runs. He struck out with batteries; now he's talking personal care again. That's just singles, and that isn't going to make this a big company. I've got close to 200K shares, and I'll start liquidating after the first of the year.