I am going to make a prediction that within the next two months, the company will be doing a secondary share offering of $3 million to $5 million worth of shares. I think this will be how they will get to the necessary level of shareholder equity. Zack has certainly come to the realization that he cannot simply keep injecting money. If he believes in the long-term, then he's going to have to sacrifice some portion of ownership to keep the company alive and meeting Nasdaq listing requirements.
I personally do not see the necessity for maintaining the listing from both a cost perspective as well as an operational one. Shares could go OTC until enough of a turnaround has taken place to justify uplisting back. Zack obviously has some reason against that.
In any case, I think that either a secondary offering is coming, or they are working on a buyout or equity sale maybe to Cap Gemini. I think these are the only things they could have said to Nasdaq to get them to allow the extension at this point. Do you have thoughts on other possible scenarios?
Bummer...should have bought some of each at Thanksgiving.
Both Swenson plays, gave indications to buy, but I didn't. I guess cheap oil/low float launched AIRT and now Biglari buying more of each.
If these guys were enriching themselves with ridiculous unjustified salaries like the bozos running FLL, I would be more inclined to agree with you. However, this management team is running a tight ship including their pay and are showing the proof of their efforts in the results. I give them a pass for not purchasing more. But again, I think we'll continue to see Shaunnessy and Sherlock buying with some regularity going forward.
No, I will not play the game possibly getting stuck.
I think over the next two weeks we're going to have much better/safer bouncers emerge.
I just came here to post as it hit my reports this morning.
My concern is that we're looking at another END.
On top of that the oil situation makes me think that worse is yet to come. I say it closes 2014 at sub-$1.00 - it's a trap now more than ever. Let's see CEO and CFO buy 100,000+ shares each first.
Sherlock purchases shares fairly regularly once or twice a year.
Shaunnessy has only been with the company two years, and he has purchased 5000 shares twice, last time being March this year. I suspect he'll buy some again between now and March coming up.
Also note, Shaunessy has options for 200,000 shares at 82 cents which are now all exercisable and vested - which I'm sure probably has some influence over his decision whether to additionally buy shares in the open market or not.
I looked at it last year around this time when insiders were buying and considered it, didn't buy, and then missed the January bounce. I saw the Form 4s yesterday, this morning as well as from Dec 1. However, my hesitation is the same as last year - the financials are pretty poor and I don't see the turnaround - the analyst estimates look like they are lost compared to what the company is posting. I see lots of debt and negative tangible book value.
if you have any questions that you want an official answer to, you can call Innisfree - their number is on the back page of Terence's pamphlet.
Correct, you only need vote FOR one slate on it's appropriate proxy and can throw away the other. Go to proxyvote website and use the id number from the gold proxy (on the right side in the rectangle box with the arrow pointing to it) and then it will pull up the correct voting slate.
20 cents/share vs. 9 cents/share
buy on any continued weakness or tax selling.
semi-annual dividend of 24 cents/share is coming in a few weeks.
I know how you feel ... I think the value-oriented guys are taking a disproportionate amount of the heat with the tax selling and the wild gyrations the market is going through this past week. Just trying to keep my head on straight and take advantage of the situation at the expense of folks who are just tossing their shares.
Good job...just voted mine on the website as well. I have two accounts with shares, so I'm expecting another, probably tomorrow.
I've decided that I'm going to jump in and take lots of shares this week and next week if tax sellers and crazy short sellers want to play games. Shares are now below cash value - what a joke!