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Skullcandy, Inc. (SKUL) Message Board

meifud 552 posts  |  Last Activity: 2 hours 40 minutes ago Member since: Dec 1, 2008
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  • Reply to

    My eyes are bloodshot

    by ama0123456789 Jun 27, 2014 1:47 PM
    meifud meifud Jul 2, 2014 4:20 PM Flag

    and now you probably can't sleep thinking about how wrong you were and how much money you could have saved had you only sold

  • meifud meifud Jul 2, 2014 4:14 PM Flag

    well now r.n.beeg, we only sold the roth shares
    no tax issues with frequent trading in a roth account
    but still carry a boatload of elite in the regular account where taxes are an issue

    so, back to 4th quarter revenues...
    i've learned it's difficult to keep you pompom pumpers on topic, but were you happy with the revenues reported? is that what you expected? would you be happy if they dropped another 40% next quarter?

  • meifud meifud Jul 2, 2014 4:04 PM Flag

    i'm not questioning Hakim's judgement or the merits of this decision one bit
    all i said was that he and Carter had the numbers wrong, which seemed odd

    Hakim also was wrong when he said elite had NEVER missed an interest payment on the bonds
    well, initially they were making those payments but they were being made out of a special reserve fund set aside from proceeds the bonds themselves -- basically elite was paying interest on the bond with the bond.
    but there was a limit on how much they could draw on the reserve fund and, when they reached the limit, elite stopped paying both interest and principle for a time. elite has since restored the reserve fund as required by the trustee, and is now in a position to become current as a result of selling stock

    but, just as i agreed with Hakim closing out with Novel, i agree with resolving the njeda bond matter

  • the cheerleaders on this board are trying to defend the numbers with reference to milestones and payments and such, but NONE of it fully explains the big drop NOR does it begin to explain why the number were not much, much, much higher and in line with what so many on this board had predicted, e.g., $2 - 3.8 million instead of the puny $1 million reported, especially with the cfo claiming they introduced three new generics in 2014 and had strong, growing sales of existing products. well, where, the meat?

    here are the actual numbers which confirm revenues were DOWN over 30% year over year and down almost 40% sequentially...

    4th qtr last year -- $1,523k
    1st qtr this year -- $722k
    2nd qtr -- $1,159k
    3rd qtr -- $1,693k
    4th qtr this year -- $1,047k

  • Reply to

    NEW PATENTS AND GREAT EARNINGS ON THE WAY

    by rhallzng Jun 26, 2014 10:06 AM
    meifud meifud Jul 2, 2014 3:33 PM Flag

    no new patents, and the earnings were abysmal -- down sequentially and year over year even without the milestone and one-time payments
    and you pompom pumpers had everybody primed for, well, GREAT earnings
    you planning to keep pumping just the same or have you had enough of being wrong

  • meifud meifud Jul 2, 2014 3:01 PM Flag

    technically what he said was, "So even though the value was about $3 million, he was kind enough to give us back our original investment of $5 million and we’ll part ways which we did."
    elite's investment was $7 million, not $5 million

    as for whether they are making a profit on their operations -- absolutely, elite has been showing gross profit from operations but it still doesn't cover fixed costs or make any contribution to R&D

    sounds like Hakim wants as little distraction as possible from the generics, at least two of which he didn't even know the current status
    and with LPC funding it doesn't seem like the generics are needed at all unless there is a surprise amongst the unnamed ones -- but Hakim didn't even know why they remain unnamed, so it does not sound like they will be very important

  • meifud meifud Jul 2, 2014 2:42 PM Flag

    alright, but why so secretive about current manufacturing capacity, the expansion schedule, and the capacity after it is complete

  • meifud meifud Jul 2, 2014 12:29 PM Flag

    seems strange that the PEI would take such an unusual action supposedly to make treatment available to patients, and Northwest is still sitting at the green light

  • there must not be any patients being treated in Germany or else there would be news articles or something

    so what is going on? does Northwest not have manufacturing capacity to treat patients? then why not say it, and then let the world know when the facilities will be expanded and how many patients can be treated then?

    that would be the humanitarian things to do. similarly, for those who just dismiss all this by saying Northwest is still negotiating reimbursement rates, all i can say is you better hope Northwest is not letting people die while they dither with the government over how much profit they get to make

  • elite's investment was $7 million, so they did NOT actually make a profit on this money that was tied up for seven years except that they were carrying it on the books at a lower value

    Hakim said elite's initial investment gave them 9.8% of Novel -- but as of June 2007, elite still held a 49% interest in Novel even though it had not been keeping up its agreed upon share of funding for the joint partnership and already owed VGS Pharma $20 million which is what opened the door to BGS diluting elite's interest

  • sending out hate emails and phone calls was bad enough, but then going on facebook and twitter defaming this world famous cancer center and demanding they fire a particular VP was over the top, not to mention trying to plant stories with news outlets -- despicable, demeaning, puerile behavior that has contributed to the stock dropping and created serious problems between Northwest and their partner conducting the trials

  • meifud meifud Jul 1, 2014 11:16 PM Flag

    carter said the part of the drop could be explained by the payment
    that didn't explain all of it

    AND it did not even begin to explain why revenues did not double as you had said, let alone go up 250% as gordonhootch had said -- both of your estimates were for this year's 4th versus last year's 4th

    he said they came out with three new drugs and that they had strong growth from those already out, so why no big increase in revenues with or without payments from epic

    you guys are just flat wrong because all you read are press releases and all you hear is managment putting the best spin they can on whatever has happened

    you should think about the boy who cried wolf, and stop trying to pump when there is nothing pumpworthy...

  • meifud meifud Jul 1, 2014 7:13 PM Flag

    hey, i never said Hakim wasn't doing a good job -- even though he and carter don't seem to remember how much elite actually put into novel or how much ownership interest they had at the start -- all found in elite's SEC filings

    and let me remind YOU that i took abuse for years from this board for pointing out the going concern situation which the pompom pumpers insisted was a lie. and, btw, the going concern has not been there since 2002, and i was the ONLY one here who noticed it was gone from the first filing after Hakim arrived last year

    as for the balance sheet being strong -- hooray, sell enough shares and you too can have a cash balance. just don't credit revenues from generics for achieving it

  • meifud meifud Jul 1, 2014 6:27 PM Flag

    and that is NOT enough to account for the difference
    but beside that fact, carter said sales of existing products increased and that they came out with new drugs during 2014 -- do you not see a disconnect?

    regardless, there was clearly an expectation for a BIG percentage increases in revenues, not a BIG drop, and that is why the stock did not go up when earnings were announced -- the earnings report was NOT good, it was very disappointing

  • instead of dropping to just $1 million
    well, i think it was and here is what he posted...

    "gordonhoochie • Jun 17, 2014 9:25 AM
    Earnings up another 150%?
    I am guessing we see at least another 150% increase in earnings over last years quarter report similar to the the past 10Q filing. Elites generic pipeline is strong and ever growing with the Mikah products coming on board via Epic."

  • meifud meifud Jul 1, 2014 4:26 PM Flag

    will you please, please, please start reading some posts other than your own?

    the milestone payment was NOT big enough to explain the difference in revenues

    besides which, the expectation was for a BIG percentage increases in revenues, not a BIG drop that required explanation but if you think that is something to crow about, have at it

    everybody keeps saying my numbers are wrong but they are not, and THAT is why the stock is not in the .50's and higher today which was the consensus on this board

    as for the comparison to FY 2011 -- some of us are just tired of hearing all the hootin and hollerin about how the annual revenues were so, so, so great and the biggest in company history when, in FACT they were only about seven lousy percent higher than FY 2011

    you think 7% growth in three years is something to crow about, have at it

  • Reply to

    $96,000,000 Loss?

    by slapthatpig Jul 1, 2014 3:53 PM
    meifud meifud Jul 1, 2014 4:19 PM Flag

    ha, ha, ha, ha, ha, except that all you cheerleaders said it was real money when it showed up as a gain when the stock had gone down

    and, because that loss represents the difference between the current price and the price on the derivatives it means someone is getting a boatload of stock that they will dump on the market and make a killing. he, he, he, he

  • Reply to

    WHO THE #$%$ IS SELLING AND WHY?

    by jim_morison12345 Jul 1, 2014 2:55 PM
    meifud meifud Jul 1, 2014 4:04 PM Flag

    try reading some messages other than your own

    there was nothing new on the conference call even though a large number of cheerleader on this board kept suggesting Hakim had a surprise up his sleeve -- there was nothing new

    and 4th qtr revenues shocked on the downside, dropping 40% from the 3rd qtr when so many on this board kept saying they would be twice what was reported or $2 million instead of $1 million

    company says they are experiencing strong demand for current drugs, but the numbers don't support that

    everything is fine in the long run, but this board was full of folks talking up elite's generic drug business so now the stock has to pay the price of their hyping something that never was important in the first place

  • meifud meifud Jul 1, 2014 4:00 PM Flag

    royalty payment was not big enough to explain the difference in revenues

    besides which, the expectation was for a BIG percentage increases in revenues, not a BIG drop that required explanation

    everybody keeps saying my numbers are wrong but they are not, and THAT is why the stock is not in the .50's and higher today which was the consensus on this board

  • it was good to know that the abuse resistant line is on track, but all of that had been announced before

    as for the 4th qtr revenues dropping 40% from the 3rd qtr when so many expected they would be twice what was reported, there was no explanation
    company says they are experiencing strong demand for current drugs, but the numbers don't support that

    everything is fine in the long run, but this board was full of folks talking up elite's generic drug business so now the stock has to pay the price of their hyping something that never was important in the first place

SKUL
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