Who cares what a know-nothing thinks when the CEO has purchased 112,000 shares on the open market. Do you think she knows more than he does?
108% of JCP shares owned by institutions, meaning they also bought shortsellers' shares - this is a rocketship waiting to blast off - just look at what GMCR did in AH tonight with only 30% short! RSI was 22 at EOD yesterday. THIS IS A NO-BRAINER.
and he lives there. That Headquarters was sold to GSO Blackstone. Even if his contract had been extended, he would not have been working for Velti PLC. He would have been working for Blackstone GSO. They obviously wanted to bring their own guy in. That's why it doesn't even make sense that some people here are making negative comments about his resignation. He was designed to leave upon the sale closing.
I have never seen so many uninformed people on a message board. These guys were scheduled to step down upon completion of the sale. Also Mari Baker is not needed as COO. I was CEO of a $30 million company without a CFO or a COO. They are totally unnecessary for a company this size. This company is cutting costs to the bone. That is what is necessary for a turn-around or a sale. It is a very good sign that they are keeping to their plan.
It is much cheaper now. I don't think Blackstone or Insiders ever thought that this would be priced at only $5 million here. It is unbelievably cheap - Blackstone could never have picked this up for this price back in early October.
It is obvious that you have some sort of learning disability and can't comprehend what you read. You should have someone read what I wrote and explain it to you.
What is your point? Most companies that have much smaller growth trade at 1 to 2 times total company sales. This is trading at a market cap of only $5 million. Do you understand how cheap it is here?
Ed, if they buy this out and take it private, you'll probably make 7 times your money IMO. That would mean you could then move your money somewhere else where you expect it to triple, so there would be no difference from sitting here except you would also pick up a tax loss for what you lost here. Anyway, if Blackstone buys it, you'll have no choice, because insiders are holding around 10 million shares and will control the decision, and the price that the final shares are sold at.
I've been told that Blackstone is buying and I think it's true.. Think about it - one year ago in October of 2012, this company was over $1 billion market cap. Now Blackstone GSO has assumed about $50 million in loans and put in less than $10 million of cash (plus guarantee up to $25 million of debtor in possession financing that they get back) for about 60% of the company. They can now average in around 20 cents a share and buy the rest of the company for less than $20 million (I'm assuming that long term holders, and large holders like me and the insiders won't let their shares go for less than 35-40 cents or 6 to 7 times what it is at today) . That means they buy a Billion dollar company for less than 80 million. They'll re-name it, take it private for a couple years and bring it back out in an IPO for $2 Billion and make 25 times their money (and remember that $50 million of that $80 million wasn't even Blackstone's - it was HSBC's!). Yep, I think it's Blackstone buying the rest here.
They have cash on hand of $5-7 million after the sale. Plus there is a payment of $5.2 million due on 12/31/13 (one day from now) from Starcapital. Plus they have $6 million net on receivables by 01/31/14. Plus, $10 million in tax benefits. Plus they have another $15.9 million due from Starcapital in 2014. Plus they paid over $22 million for China business and can sell minority interest for around $10 million if they need additional cash (probably to a company like Renn Renn).
According to their last filing, Western European revenues were down -18.4% YOY, while Asia/Africa revenues were up 31.5% YOY. The growth is in what is left in Velti PLC.
If you Google the first 5 words in the quote you'll get the article from March 2013. Even if you take away the $54 million in mobile revenue that goes away with this sale, and reduce the remaining revenue by half, you are still left with a $100 million company.
They can't buy until after the bankruptcy is complete and they release some financial information that puts shareholders on a somewhat even keel with management's info.
If they bought shares here the SEC would swoop in. Insiders can not take advantage of a situation they created and have more information on than others do. The CEO is holding over 4 million shares. So is his buddy. All they need to do is get the price up - and they will.
This was taken from an article when Velti introduced their Media Services: "Velti took in $270 million in revenue in 2012, an increase of 43 percent from fiscal 2011. Of that, mobile advertising revenue was $54.3 million. The remainder came from Velti's various marketing services." There is much more to Velti Plc than the Mobile Marketing Business Unit (MMBU)
Do you not understand that this company did not go bankrupt? There are NO creditors to have demands on remaining assets. Shareholders own 100% of what remains of the company. Blackstone owns the US assets plus UK plus India. Blackstone took over the $58 million in loans obligation.