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Location Based Technologies, Inc. Message Board

new2xicor 2 posts  |  Last Activity: Apr 21, 2016 9:05 AM Member since: Mar 7, 2008
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    Embarrassing

    by juddy1 Apr 19, 2016 5:38 PM
    new2xicor new2xicor Apr 21, 2016 9:05 AM Flag

    Agree

  • Reply to

    Embarrassing

    by juddy1 Apr 19, 2016 5:38 PM
    new2xicor new2xicor Apr 20, 2016 1:57 PM Flag

    That business was always on borrowed time.
    No one who buys that business not even a man and his dog will pay more than one years sales and will not put op cash. Last year it generated $6.0 in profits on 39.3 million sales
    CAMP could not have got $25 million unless it carried paper, and a buyer does not want to payoff $25 million by giving up $6.0 million profits each year for four years and a few guys working for free or pennies. Would want long term purchase order commitments from DISH and Ergen would tell the buyer to go pound sand.
    It is only a wind down scenario now for years
    In 1999 CAMP paid $9.3 million for the business including inventory and tooling and assembly lines of about $6 million. Business bought for about $3 million or .25times annual revenues. In one year CAMP did over $100 million in sales and had no earn out ot pay the seller!.
    Egren has threatened to fire them often. The SAT Executives would not buy for $20 million unless CAMP carried paper or Ergen carried paper and committed to buy over $100 million of product in four years and when debt was paid they would get more salaries than their last four years where they barely made ends meat.
    Analysts who ever valued this business as part of CAMP for more than $25 million was not listening. Run the model analysts on wireless, value that segment and add $25 million for satellite for a price target. Value of stock should drop less than $1.00(25/36.5=.68 cents) at most for this wind down of a product that had way too long of a pretty good run for 17 years. Let it rest in peace.

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