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Pro-Dex Inc. Message Board

reversesplit 17 posts  |  Last Activity: Sep 12, 2014 3:35 PM Member since: Apr 19, 2001
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  • Reply to

    Is Capelli out at CYAN

    by algae_monkey Sep 3, 2014 12:47 PM
    reversesplit reversesplit Sep 12, 2014 3:35 PM Flag

    Loss of efficacy.

  • Reply to

    Is Capelli out at CYAN

    by algae_monkey Sep 3, 2014 12:47 PM
    reversesplit reversesplit Sep 5, 2014 1:55 PM Flag

    You don't understand, Alex. I already have the product that I suspect contains very little, if any astaxanthin.

  • Reply to

    Is Capelli out at CYAN

    by algae_monkey Sep 3, 2014 12:47 PM
    reversesplit reversesplit Sep 4, 2014 1:10 PM Flag

    Just my opinion, but he probably has more integrity than all the "junk brand" Nature Made folks that are now on board at the company. Does anyone know where I can get a sample of Astaxanthin tested for content?

  • Reply to

    Sigh! Another level of management

    by wright.tom64 Aug 18, 2014 9:16 AM
    reversesplit reversesplit Aug 18, 2014 2:26 PM Flag

    Well Bailey can't seem to do his job, so he obviously needs help, but I don't see this as such a great fit...A produce manager as COO of a dietary supplement company? It looks like just more overhead for less talent, and based on recent history...less results...poor shareholder communications...poor inventory control...mediocre sales growth...etc.,etc. I wish the chairman of the board had a clue, but anyone with money can buy stock.

  • Reply to

    Sticking with Cyanotech

    by wright.tom64 Jun 27, 2014 9:30 AM
    reversesplit reversesplit Aug 15, 2014 11:00 AM Flag

    Right. They have nearly $5 million in inventory, and they can't meet demand? If that's true, then they've overstated inventory the way it got them in trouble a few years back. Don't forget, Bailey was hired by Rosenthal (head of the auditing committee during the inventory overvaluation issue), who left with Robertson (who was involved in contractor corruption in California) with his tail between his legs. Just my opinion, but I haven't seen any improvement in the management of this company (with the exception of Jacobson's short reign) in the last 20 years.

  • reversesplit by reversesplit Aug 14, 2014 11:51 AM Flag

    How do you incur legal fees of $1.5 million in the quarter. That's $500,000 per month. At say $500/hour, that's 1000 hours per month or about 33 hours a day. I think someone at Cyanotech needs to review the legal billing statements. This amount of fees is ridiculous. I think that if they had an attorney on the board that Bailey would have been advised not to get into a #$%$ contest with Valensa. They were a customer. What was the point?

    I just see more and more lies about the company's prospects...just like the claims a year ago that the legal matters were without merit. Maybe if Bailey could tell the truth he'd be willing to return calls from shareholders. He's clearly overstayed his welcome and should be let go. He's accomplished nothing except depleting the company's coffers and incurring debt for a nonexistent extraction plant (not even a mention of that failure in the press release).

  • Reply to

    Acquisition

    by fred_jdc Jul 10, 2014 4:35 AM
    reversesplit reversesplit Jul 14, 2014 5:09 PM Flag

    Nip,
    What are you blathering about?

  • Reply to

    Acquisition

    by fred_jdc Jul 10, 2014 4:35 AM
    reversesplit reversesplit Jul 14, 2014 1:19 PM Flag

    Highly paid and highly qualified CEO's shouldn't be making "silly errors." Mr. Horwitz ought to be reading what he's signing. Very embarrassing!

  • Reply to

    Acquisition

    by fred_jdc Jul 10, 2014 4:35 AM
    reversesplit reversesplit Jul 11, 2014 10:07 AM Flag

    Do you think that would explain how Comarco, Inc. came to be (accidently?) printed above the signature line of the 8-K?

  • Reply to

    Strange company, Stranger investors

    by reversesplit Jul 10, 2014 4:39 PM
    reversesplit reversesplit Jul 11, 2014 9:40 AM Flag

    Thanks for the insight. If what you say is accurate, it looks like this one is another stinker investment by Elkhorn Partners like their investment in Comarco. If I were one of Elkhorn's limited partners, I'd be concern about their research manager, Mr. Cadwallader.

  • Reply to

    Acquisition

    by fred_jdc Jul 10, 2014 4:35 AM
    reversesplit reversesplit Jul 10, 2014 4:51 PM Flag

    Apparently Mr. Horwitz reads this board and has quickly acknowledged/corrected his error. While I couldn't find any relationship between the company or Mr. Horwitz and Comarco, I think it's very interesting that Comarco recently lost is largest (only) customer and is now nearly worthless.

  • I just did a little research on the company. Management (mostly very long term) and board members own very little if any stock in the company. The company just shut down and un-utilized 23,000 square foot manufacturing facility claiming they'll save $2 million a year. The board paid the CEO a $35,000 bonus for accomplishing this after they requested he look into it (I would think that would be his job without asking).

    Elkhorn, which I believe is a limited partnership type investment fund out of Nebraska, owns 25% and appears to still be buying. I looked into a few of Elkhorn's other smaller company holdings, and it wasn't pretty.

    I could see this as a possible turn around situation, but considering the longevity of current management and the lack of any substantial ownership by most of the insiders, I just don't get a very good feeling about this one.

    Does anyone have any thoughts? Please correct me if I'm off base on this money loser.

    Regards,
    RS

  • Reply to

    Acquisition

    by fred_jdc Jul 10, 2014 4:35 AM
    reversesplit reversesplit Jul 10, 2014 10:45 AM Flag

    The 8-K doesn't seem to be describing Comarco. Comarco is not a machine shop, nor a proprietorship. I have no clue as to why Comarco, Inc is written above Horwitz's signature.

  • reversesplit by reversesplit Jul 3, 2014 11:35 AM Flag

    Hey Nip! Why don't you disclose your relationship to the members of the Board of Directors? You seem to know as much about investing as Nick Swenson knows about de-icing airplanes. I purchased my allocation of shares in the rights offering to prevent being diluted by Swenson's scheme, but I would have much preferred to hold my existing position in undiluted shares. Paying out 8% to raise equity is pure waste. Thanks for helping expose these issues.
    Regards,
    RS

  • Reply to

    NEW MANAGEMENT AND DIRECTORS

    by azucarmorena17 Jun 20, 2014 12:40 PM
    reversesplit reversesplit Jun 26, 2014 9:25 PM Flag

    Hey, Nip's back (or is that Nick)! The only one in the world who thinks the rights offering was a good deal for shareholders. Hey, we only paid out $125,000 to raise $1.5 million. That's only 8% for the money raised...not such a bad deal! If the company didn't have $2.8 million in cash & investments, it would need that money, right? Plus, it only diluted the stock by 25%! I'm so proud of the new Board of Directors.

  • Reply to

    On the old Fedex commercial, the guy used to say

    by alexalekhine Jun 18, 2014 11:24 AM
    reversesplit reversesplit Jun 26, 2014 6:09 PM Flag

    It takes extra time to manipulate the financials.

  • Reply to

    Mayflower Capital Partners

    by jennfrc2007 Jun 20, 2014 1:54 PM
    reversesplit reversesplit Jun 25, 2014 9:50 AM Flag

    It looks like Swenson & Groveland are out. I wonder what Nick is doing with the money.

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