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Special Diversified Opportunities Inc. Message Board

reversesplit 23 posts  |  Last Activity: Jul 14, 2014 5:09 PM Member since: Apr 19, 2001
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  • 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.

  • Reply to

    SWENSON rights refusal

    by sawmade7 Jun 11, 2014 9:40 AM
    reversesplit reversesplit Jun 13, 2014 11:59 AM Flag

    I believe we were hurt by the rights offering in general. It was severely dilutive at a time when funds were not needed, and as the stock was issued at such a low price it was even more so, however, by Swenson's gang not honoring the stand-by commitment the offering was less dilutive than it could have been.

    It does bring up the issue of integrity though. Swenson was well aware of the tax implications when he conceived of the rights offering as they were disclosed (however nebulous) prior to the offering. As he had prior knowledge of the poor quarterly financial performance that was to be announced shortly after the close of the offering, he had an out (tax implications) to avoid having to purchase the additional shares in a "dead money" investment. To me, this reeks of insider trading (in a convoluted way).
    Regards,
    RS

  • reversesplit by reversesplit Jun 6, 2014 10:49 AM Flag

    I saw a huge buy order yesterday for 150,000 shares at $4.14 of which 30,000 were purchased. Swenson's sitting on a huge pile of cash he controls (pirated in my opinion) from Pro-dex (PDEX) when he successfully won a proxy battle there. He may be trying to use that cash hoard to buy shares in SODI. I wouldn't trust him after what he pulled in their recent rights offering.

  • It's obvious to me why the Swenson gang didn't honor their stand-by agreement. They knew the quarter would suck, and it would be dead money. They could buy more when the stock price dropped below the rights price.

    Hey NIP! Can you tell me which IRS rule precluded the Swenson gang from buying more shares?

    Regards,
    RS

  • reversesplit by reversesplit Jun 6, 2014 10:17 AM Flag

    Does anyone know if Valensa is still doing the astaxanthin refining for Cyanotech?

  • Reply to

    Closing Of Rights Deal

    by hokieincanecountry May 1, 2014 6:06 PM
    reversesplit reversesplit May 25, 2014 2:07 PM Flag

    Nip,
    Once again, you simply resort to name calling without saying anything of substance. The company's canned response was to say AO and Farnam didn't honor the stand-by commitment because of tax reasons. I would like to know "what" tax reasons. Do you really have any idea?
    Regards,
    RS

  • Reply to

    Closing Of Rights Deal

    by hokieincanecountry May 1, 2014 6:06 PM
    reversesplit reversesplit May 20, 2014 10:52 AM Flag

    What happened NIP? Did Swenson instruct you to back off on your defense of his reneging on his stand-by agreement? Since Swenson dishonored his commitment, and he knew about the company's latest financial performance, could we consider his action "insider trading?"
    Regards,
    RS

  • Reply to

    Closing Of Rights Deal

    by hokieincanecountry May 1, 2014 6:06 PM
    reversesplit reversesplit May 13, 2014 3:36 PM Flag

    Since you're the expert NIP, maybe you can explain it to me. If the company knew the tax implications of the stand-by agreement (as they should have), why was the agreement ever conceived? Why weren't other shareholders given the opportunity to purchase the unsubscribed shares as is normally done in rights offerings?

  • Reply to

    Closing Of Rights Deal

    by hokieincanecountry May 1, 2014 6:06 PM
    reversesplit reversesplit May 12, 2014 5:48 PM Flag

    Not much of an answer when you consider that Swenson controls the BOD and the company. What's with you posters that get off by throwing anonymous insults.

  • Reply to

    Closing Of Rights Deal

    by hokieincanecountry May 1, 2014 6:06 PM
    reversesplit reversesplit May 12, 2014 4:34 PM Flag

    It strikes me as odd that Swenson would renege on the standby agreement. Maybe we'll get some answers during the conference call.

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