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American Capital Agency Corp. Message Board

pc4me58 25 posts  |  Last Activity: Apr 3, 2014 9:05 PM Member since: May 20, 2008
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  • Reply to

    I assume that this is dilutive. COuld it be?

    by pc4me58 Apr 3, 2014 7:17 PM
    pc4me58 pc4me58 Apr 3, 2014 9:05 PM Flag

    that's not how it works. If they issue shares above book value, then it's accretive. Book value for existing shareholders increases. If they issue shares below book value that is dilutive and cause existing shareholders to suffer. Back before May 2013 when the bond market imploded and took this entire sector down, no managment would have ever considered selling new shares at a discount to book value.

  • Book Value at year end 2013 was $15.27. Would management actually issue new shares below BV?

  • Reply to

    excerpts from Citron

    by pc4me58 Mar 26, 2014 3:17 PM
    pc4me58 pc4me58 Mar 27, 2014 5:12 PM Flag

    Look at my above post and see my comments on China Media Express. That is all true. Shorts sellers are always painted as pariahs. If you read the report it links to specific instances where managment outright lied. It is unbelievable that the SEC hasn't sanctioned these guys. But then it is the SEC.

  • pc4me58 pc4me58 Mar 27, 2014 2:41 PM Flag

    Nice to see you reply to yourself. First with a market cap of $725mm I wouldn't call this a micro cap. It was not long ago and will be again before too long. Do you ever wonder why management did not participate in the equity raise in Feb 2013 at 15 cents? Or in the equity raise in May 2013 at 24 cents? Or the Sept 2013 raise at 54 cents? And in Feb of this year ANdy Marsh bragged about the balance sheet and the fact they "see no need for cash to fund the present business plan" and then one week later sold $22mm in stock at a 15% discount to the market price? Managment has created the perverbial DILUTING machine

  • pc4me58 pc4me58 Mar 27, 2014 1:47 PM Flag

    theres a difference between gambling and investing. Only a fool would considering investing in this fraud given the management's track record. Gambling is a different story. Personally I find Vegas far more interesting. Having rolled the dice on this pig a few times and made money I think I'll head to Vegas.

  • Reply to


    by newsflashed2u Mar 26, 2014 8:03 AM
    pc4me58 pc4me58 Mar 27, 2014 10:03 AM Flag

    But they make it up on volume

  • Reply to

    Oversold......ready to go higher?

    by abouttomakemoneygoinglong Mar 27, 2014 9:47 AM
    pc4me58 pc4me58 Mar 27, 2014 9:54 AM Flag

    from your moth to God's ears. I want this puppy to surge so I can short the snot out of it.
    CITRON baby!!!

  • Excerpt:
    In the last 15 months, the company has had equity-raises at $1.15, $0.15, $0.24, $0.54, $3.00, and $5.74 per share.

    And of the warrants associated with these equity raises?

    When converted to common shares, they will have a further diluting effect on a company that has lost money for 15 years. Any new profits will be watered down by the escalating share count.

    The pattern is unmistakable: management exchanges PLUG shares to attract capital in order to keep the company afloat; and in the process, dilutes the capital structure of Plug Power ("the company") owned by the existing shareholders. This is partly why Plug Power has a negative book value per share.

    The preferred shares [listed above in 2.3 a.b.c,] could be held in reserve for future equity raises (for deals pitched to more professional investors) so that the game of PLUG and dilution continues apace.

    The equity raises are pyramided on the expectation that a further rise in the share price - and a thundering herd of true-believers - will support the stock. But one wonders if those who go unquestioningly along with this herd will discover later they skirted with dangerous or even fatal financial consequences.

  • Reply to

    excerpts from Citron

    by pc4me58 Mar 26, 2014 3:17 PM
    pc4me58 pc4me58 Mar 26, 2014 4:42 PM Flag

    Do a google search on China Media Express. Unfortunately I was an investor. Forbes declared it their top pick in small cap Chinese stocks in whatever year that was. Hank Greenberg (formely head of AIG) has an investment unit (Star something) that had invested $40 in a private placement. Lots loved this company. I invested. Citron pronounced this company a fraud. It took a while for them to prove it and for the entire situation to play out. I lost plenty. You may not like it, but Citron has been right many many times. Do some homework, or don't. I don't care. BUt this pig smells real bad.

  • Reply to

    excerpts from Citron

    by pc4me58 Mar 26, 2014 3:17 PM
    pc4me58 pc4me58 Mar 26, 2014 4:29 PM Flag

    You're not so bright are you? From their march 13th release. Revenues for the yr just ended was $26.6mm or an increase of a whopping 1.9%. Units shipped in the 4th quarer were 279 or down 46% from the same period a year earlier. For the entire year they shipped 918 units or down 34% from the prior year. They exist purely due to the tax credits for renewable energy given to those that buy their products. The tax credits will be phased out in 2016. Bookings and revenue are very different numbers. Management has in the past made projections about future sales and has never lived up to them. Read the report and you'll see. I am not affiliated with Citron in any way shape or form. And I have been on the other side of their research before and lost money. Do your work and spare yourself the losses. Personally I hope thiss pig rallies hard and although its hard to borrow, I will short with both hands. I sold at 3:50 yesterday and wished I had gotten off a short. Good luck.

  • Reply to

    excerpts from Citron

    by pc4me58 Mar 26, 2014 3:17 PM
    pc4me58 pc4me58 Mar 26, 2014 4:12 PM Flag

    you're in denial. Andrew Leff has been so right on so many fraudulant stocks. Look at PLUG. Management has NEVER come close to the guidance they've given.

  • Reply to

    excerpts from Citron

    by pc4me58 Mar 26, 2014 3:17 PM
    pc4me58 pc4me58 Mar 26, 2014 3:24 PM Flag

    TWST: Turning to the other side of your financials, can you comment on the strength of your balance sheet at this point, and are there any areas that you are working to improve right now?

    Mr. Marsh: The balance sheet's been the best it's been since I've been with the company. As of at our announcement in mid-January, after raising $30 million, we have $46 million on the balance sheet. We will use about $10 million in operating cash this year, and we will leave this year profitable, and so we see no need for cash to fund the present business plan.

  • Citron Research believes that management’s lack of honesty or conviction about the future of
    their company was most evident last year. While operating under a going concern from their
    auditor, the company did a capital raise at .15 cents ...with a .15 cent warrant! Guess how
    many shares management bought? Below is a table of the capital raises of company during
    2013. Management did not participate in ANY of these capital raises. Management’s only
    participation was to take some stock in lieu of salary from a preexisting agreement while the
    company was on a trajectory to bankruptcy.

    It should be noted that the equity raises above all had warrant coverage, which made the deals even sweeter for the investors ... yet management was noticeably absent. In contrast to Elon Musk, who committed nearly his whole life saving into his Tesla investment when they were just starting out, management of Plug Power wouldn’t even buy the stock at .15 cents just one year ago.

  • For anyone, longs or shorts, to not have read Citron's report. Easy to find with a search. Make up your own mind. But if you've read it and understand who Citron is…… well you can make up your own mind

  • pc4me58 pc4me58 Mar 26, 2014 12:03 PM Flag

    Citron Research

  • pc4me58 pc4me58 Mar 26, 2014 12:02 PM Flag

    Citron Research

  • pc4me58 pc4me58 Mar 26, 2014 12:01 PM Flag

    Citron research

  • Reply to

    hoping to buy more at 7 bucks

    by pluginvestor222 Mar 26, 2014 9:25 AM
    pc4me58 pc4me58 Mar 26, 2014 9:28 AM Flag

    hold on. You'll get plenty of chances to buy this lower and lower and lower. Please. For heavens sake do a google search and read Citron's report.

  • pc4me58 by pc4me58 Mar 25, 2014 4:48 PM Flag

    I've traded this a few times and made money. Not until today's run-up did I actually take the time to read the Citron Piece. I strongly suggests doing nothing until one does read this piece. I've been on the other side of a few of Citron's research reports and have hated them. I will never be on the other side again. I'm not going to short this afternoon. Maybe not tomorrow either. But soon.

  • result in litigtion for years to come. Regardless of whether theres a deal or not. I suspect there will be plenty of short covering that will lead to losses. Wait until we find insiders were selling into this. Haha.

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