Glad to be of service and to combat all the plain wrong basher FUD right back from the Spacehab days when everyone said the company would go bankrupt then. I think basically Pickens had no real choice apart from borrowing a lot more debt to finance 1stDetect and perhaps dilute the stock. This way there's now great liquidity for anyone who wants to get out and a good multi-year chance with plenty of money for 1stDetect to flourish and it probably will. I would have liked ASO to have been retained but unfortunately its business was just not strong enough to support itself and fund 1stDetect so something had to give and I suspect LMT will make more full use of it.
p.s. found another great little stock/company in ENG. Above all its recent moving averages going back years and toying with its last recent resistance at 3.57. Easy 10-20% from here and it was only 4.04 days ago on less than a million volume. Ripe to move big maybe 4-5 in weeks/months.
Just creating diversionary strawman to CYA for being so wrong for so long. ULA is an artificial company LMT and BA cooked up to guarantee they both get EELV sales revenue regardless of whose rocket was used but LMT and BA are the real companies behind them and I mentioned that the constituent companies of ULA would do the actual buying, LMT and/or BA. I just bumped a 2005 post where you said LMT would not buy ASO so you have only been wrong about this for close to a decade now. It's obviously appealing to LMT as ASO is fundamentally profitable and it means that they can pursue more commercial contracts with Atlas V now without worrying about payload processing capacity restrictions.
donodoya1: 'I do see a glimmer of positive due to the sale of two MMS spectrometers.'
Shame you could not remember writing that post 18 months later !!!
I already answered you both now and last year when you answered the very same question and I sure as hell am not going to repost old links just because you are too senile to remember what I told you a year or so ago on this board. Look at the 10-Qs, 1stDetect revenue is placed under the Spactech division. Don't lie when you have already been told in the past about past revenue where I posted links to earnings PRs and when I tell you again where to find the information. Lazy Idiot.
Well I did not know the exact price or that is was it going to happen but I knew the book value of those facilities around $35m did not give their true value as they would cost around $100m to build new and accounting depreciation is not really relevant in this case as they still have the same functionality as if built new. So LMT met them in the middle at $61m. I also knew if they wanted to sell they would find an easy buyer, either LMT or BA who already use ASTC as their commercial payload facility of choice and I have just bumped threads on the ASTC board where I have said all this for many years past contradicting a NASA ex-employee of SPAB/ASTC mi2also who tried to BS us for years that no-one would be interested in buying. He lets his hate for his old company get in the way of facts and he has willfully misled ASTC shareholders about the true value of their company for over a decade when he really should know better if he was not so emotionally involved.
The cash gives 1stDetect about 10 years burn-rate to get successfully off the ground (it's a very lean outfit as I kept telling you guys in contrast to IMSC) and I suspect there are future orders in the pipeline with their OEM Rigaku which probably require money to do a manufacturing ramp now.
Some of them have regular sales plans and the buyback is supposed to account for this but it's not working in practice. There is not the trading volume to justify the millions in share options they dish out every quarter and the insiders sell on any stock surge killing any rallies. Good company but stock badly run for the outside shareholder. Also the Institutions have strange buying and selling patterns which again overpower any retail interest. Stock should not be down on a Nasdaq up day which is why I finally decided to say goodbye to this weird stock today as I give up trying to work it out.
There's nothing lucky about picking the right company with concrete assets and great IP. I picked a winner that I knew would deliver on either the space or spectrometer business both of which are unique in the world. When you said ASTC was worthless and that no-one was interested in it apart from the shareholders, how wrong was you ?
No, it's not buying ASTC but ASO, the space satellite processing subsidiary of ASTC with 2 large facilities on the West and East Coast. ASTC remains with about $60m in cash and the 1stDetect spectrometer business.
cucurbita_pepo, I think $4.59 implies a very successful attack on $4 and it is still continuing. I can pick companies with value and stock winners and you obviously can't and the only thing you own is a piece of this garbage stock.
'At least you agree that the govt will ensure the payload facilities will be bought by someone who would operate them as such which indicates their relative importance in the US rocket ecosystem on both coasts. I think SpaceX would be interested as it would both increase their throughput and advanced payload capability and the constituent parties of ULA, LMT and BA would work to prevent that and of course SSI would love to come out of the processing cold and get in on the act. I suspect they would be sold for well over $50m if push ever came to shove.'
Tell me I'm wrong again Jim. Notice constituent parties of ULA defined i.e. LMT and well over $50m price tag.
' FWIW anyway these assets would be of use to any large Space Company or US Govt itself. So Orbital, SpaceX, Lockheed Martin, Boeing and NASA itself.'
Tell me I am wrong again Jim.
Yes, why would they Jim ? Because it's a profitable lean business and they get guaranteed payload facilities regardless of rocket congestion volume. You have only been wrong about this for a decade now, good job misleading shareholders of this company for all these years.
You asked me the same question about a year back and I bothered to get all the PRs detailing the sales but I am not going to bother to repeat the exercise. Spacetech 1stdetect sales are detailed every quarter in the 10-Q/Ks.