In the lastest SEC filing this afternoon, it was disclosed that Red Mtn Cap Ptrns sold 917,150 shares the last few days leaving them with 5,284,982 shares. Hopefully they called the company and offered the stock to them. If they did and the co refused to buy any, then that is like throwing money away since it is selling below tangible book value by a lot. The last buys were announced between May and Aug of 2012 from prices of 3.38 to 4.41 for 2,0 94,121 shares. A huge loss taken here by them. Hopefully their sales now at these reduced prices are just as bad as the purchases. Will be interesting at what price they continue to "puke" out shares and if they try to eliminate the position by year end. They also went below 5% on another in Nov, RDNT and the stock has cratered since the sales which might indicate they are selling the bal of that position also. If they are trying to sell the balance of the position, I have to assume that some person/group bids them for the entire position before yr end.
At some point down here making new lows well below cash and tangible book, it seems only a matter of time that activists circle this dog. It seems to be worth more dead than alive based on the present stock price. Obviously the business is doing terrible or there would be some action to buy shares by insiders, company or people doing business with them. Sounds like just a matter of time before this is shut down and liquidated if the "Strategic Alternative" search that has been discussed previously doesn't come up with something positive.
He sounded and looked like a very nice person but highly suggest someone takes an hour to have a lesson on how to tie his ties. Looked like a clerk not a CEO. Sounds petty posting but these things are important in the circles he travels in.
Totally don't understand an employment agreement for Mr. Bazet where he gets automatic 3% raises annually no matter how the company progresses. Why would anyone support such a thing? Also I noticed that his seemingly large base compensation was $597,000 last yr along with bonuses and stock awards and misc compensation bringing it up to $898,988? Not a big surprise that he has a very small share position excluding options in a company he has been connected with for over a decade. Any fund holder or large holder that supports this type of compensation with these results is very strange to me. The stock hit my radar as a potential investment but this just threw me for a loop. Not a big surprise there is a staggered board election so the mngt can't be easily removed. Comments appreciated. Thanks in advance.
There no doubt will be "dead cat bounces" for extremely agile professional traders but my advice for all is to avoid any stock with such horrible funadamentals and especially when people are paid to tout and large holders expensing large amount to promote the purchase with slick looking publications and many news releases of sometimes dubious news. You will be much happier and usually financially better off reading a good book. From someone with experience of hindsight in many cruddy deals and finally analyzing why I lost.
The shares outstanding according to the last 10-Q were 97,450,000 not that amount previously posted, still a huge amount for a stock with less than $21,000 in stockholder equity before the recent announcement.
Suggest before even thinking of speculation a small amount, one should read the available quarterly financial statement. No current revenues at all and there are currently 672,690,000 shares outstanding with total shareholder equity of $20,681 with a last qtr loss of $270,879. If this supposed $2 million is actually received, then the book value of the stock would be still miniscule. Do the math. Just noticed I was touted this same stock in January when it was 1.28, that would have meant a loss of about 39% while the main stock market has been very strong. They seem to have a lot of money being spent touting with fancy looking publications. Only people making money are the touts, publishers of these shoddy recommendations and possibly market makers. I looked and the last two recommendation I rec'd like this were UAPC on 6/15/12 which was 1.15 and now .0277 and MAXE on 11/15/12 which was .99 and now .0584. One should get the point. Supposed some will buy this type of absolute crud and then complain and march on Wall St because of their stupidity.
Seems to be a different type of stockholder when stocks reach $5 and above, guess there are restrictions in owning lower priced companies by some groups. Fine with me, makes it easier for bottom feeders searching value situations. Let them dump them for all I care.
Price is $16.75 cash. Whoever printed that article in Japan got the buyer correct was was off base on the price. So much for following rumors. $60 to 70 billion yen does not translate $584,000,000. Sounds like there is going to be a lot of disappointed people. Good thing the founder only controls 18% of the stock since this doesn't cancel out the thought of a higher bidder. Wishful thinking of course.
I got an email the other day saying my BJ's Restaurant card was no longer good since I hadn't used it in their time frame. Haven't heard anything so stupid. There is absolutely no cost in keeping these alive and their use encourages loyal customers. So I haven't had the opportunity recently? So what. This is like saying, "WE DON"T WANT YOUR BUSINESS" and I took it accordingly and chose to not go there last night after my wife said would like to go out to dinner. Fire the person in charge of this decision.