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ENGlobal Corp. Message Board

selllowtome 235 posts  |  Last Activity: Apr 1, 2014 8:20 AM Member since: Apr 16, 2010
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  • selllowtome by selllowtome Apr 1, 2014 8:20 AM Flag

    Back in December co. announced that it was "evaluating carrying value of certain of its businesses". Was this reflected in year-end financials, is it still something to look forward to, or was the evaluation completed without any impact?

  • selllowtome selllowtome Mar 31, 2014 11:10 PM Flag

    Are you thinking that the co. still needs to raise capital to support its core business, in addition to its announced plans to "raise funds outside the United States" for its new medical co?

    In any case, how could the result of discussions with certain parties concerning PESI's efforts to raise capital affect its 2013 audited financial statements?

  • Reply to

    News!!!! Kid going to OTC trading!

    by motoroilandmore Mar 28, 2014 5:35 PM
    selllowtome selllowtome Mar 29, 2014 10:20 AM Flag

    Agree except will keep second foot in the air until (is NT-10K in offing??) co. reports 4Q13 results and gives some color on 1Q and prospects for the rest of the year. co.'s NYSE listing was cooked as of 3/20 when closed at $0.69. And people smart enough to know that sold off the following 3 days before switch to OTC became official 3/25 AMC. Other smart people lined up at the trough the past 3 days in recognition of the possible need for some institutions to unload as a result of the delisting.

    Two points of note from 8K: First, why did the co. lead off 3rd paragraph with "The Company’s shareholders remain owners of the Company"? Why would anyone think otherwise? Was this a way for the company to reassure shareholders or foreshadow a possible time in the not too distant future when they are not [owners of the co.]?

    Second, I'm not a big fan of R/S and so, on one hand, am thankful that co. was forced to switch over to the OTCQB instead of doing one. The OTCQB is a better fit for where the co. is at this juncture. However, the 8K notes that the Co. had an approved business plan to fix the $50M market cap and equity deficiency, which could only mean that the Co. had/has a plan to increase s/h equity. I'm fearful that this plan would result in serious s/h dilution and that it may (in the future) be coordinated with a plan to regain status on a listed exchange in conjunction with a R/S. Hopefully, co. would hold off on implementing any such plan until it shows very tangible proof of improvement in its operating performance.

    Sentiment: Hold

  • selllowtome selllowtome Mar 27, 2014 10:13 PM Flag

    Feel your pain. For some reason management felt it necessary to play to traders and release during open market. I wonder why the urgency.

  • selllowtome by selllowtome Mar 23, 2014 5:01 PM Flag

    There is a typo in the second line and second column of the second table under Item 5 of Part II of the FY13 10-K. The number should be 1.32, not 1.62. The fact that the company didn't repurchase any shares at this high of a price shouldn't change much. MMAB is still pretty reasonably priced where it's at right now.

  • on December 23rd, range was $230M-$270M; yesterday's announcement tightens to $240M-$260M

  • Reply to

    Online Orders

    by selllowtome Feb 24, 2014 8:53 AM
    selllowtome selllowtome Feb 26, 2014 11:40 AM Flag


  • selllowtome by selllowtome Feb 24, 2014 8:53 AM Flag

    At least one brokerage is restricting online order placements. Curious to know why.

  • selllowtome selllowtome Feb 24, 2014 8:48 AM Flag

    15 cents (US-annual)?? that would be more than a 5-fold increase from latest quarter. Where is that going to come from?

  • Reply to

    compliance plan ANYONE??

    by selllowtome Feb 16, 2014 7:50 PM
    selllowtome selllowtome Feb 22, 2014 11:59 AM Flag

    No. I can't bring myself to sell at a market cap. of only $13M. Not a retail guy, but the brands, including Sassy, have to be worth more than that. I just wish that I had done better DD way back and picked up Crown Crafts instead of KID.

    Sentiment: Hold

  • Reply to

    "...while minimizing dilution to our shareholders"

    by nip7890 Feb 21, 2014 1:25 PM
    selllowtome selllowtome Feb 22, 2014 11:21 AM Flag

    Unfortunately, the set-up for dilution has been there ever since the R/S when the company made the decision to maintain its pre-split quantity of authorized shares, which at the time I questioned as to the need for capital.

    At that point I wasn't even thinking about a possible "positive use" for supporting a new subsidiary based on its medical isotope technology. I was more concerned about the perception of the company continuing to need capital to support a continuation of poor operating performance even after performing the R/S as a way to stave off being delisted. My thinking was that if the company was still concerned about its future operating performance, then perhaps it should not do the R/S and just have its listing switched to another exchange that would b more appropriate for a company facing reduced growth and/or profitability. If at the time, the company had said that an important aspect of maintaining its listing and share capital was to support a new subsidiary, then I wouldn't have objected.

    The verdict on PESI's operational performance is still out, and a possible loss in its most recent quarter and uncertain near-term prospects likely weigh on sentiment and are reflected in the stock price being much closer to its TBV of $3 vs. BV or $7. But the fact of the matter is that the stock did not tank following the R/S, and the approximate trade volume-weighted average price since the R/S is only about 10 cents lower than Friday's close.

    As far as the impending dilution, short of an absolutely disastrous quarterly report and outlook, the recent, [relative] share price resiliency would seem to offer some hope that any newly issued shares could be sold in the $2.75-$3.25 range and certainly not test the sub-$2.50 level seen last summer. Of course that would likely cause the price to drop from where it is now, but presumably any capital raise would be accompanied by details about the bright prospects for the subsidiary and would lessen the impact.

    Sentiment: Hold

  • Go to the Otay Water (government) site and select committee packet after searching on rosarito january 28.

    Nice complement to Percoco's recent SA article. Notes that many things are underway that have the potential to move markets sooner rather than later -- especially if CWCO will be forking over another $17M in May and expects to achieve "financial close" on the project by year end. Still amazed that this 100+-employee company is taking on such a large, complex project on its own. Must be constantly answering phone calls from potential equity partners.

  • Reply to

    Share Dilution

    by selllowtome Nov 26, 2013 9:02 AM
    selllowtome selllowtome Feb 17, 2014 1:35 PM Flag

    Despite improving business prospects and recent desal project win from American Water, share price will continue to fall as those able to purchase shares at significant discount to recent trading prices cash in their shares. Share price should stabilize at book value in the $0.20 to $0.25 range.

  • selllowtome by selllowtome Feb 16, 2014 7:50 PM Flag

    How will company's intent to "actively monitor the closing price of its common stock" fix anything? Isn't it about three years too late for that to be of any benefit? What reasonable expectation could s/h possibly have for the price to start heading north anytime in the foreseeable future? 4Q13 and 1Q14 appear to be burdened by charges, and the management ranks continue to roil. This coupled with lousy prospects for the industry (e.g., Mothercare's shares took a 30% hit from its 4Q profit warning last month) doesn't seem to add up to any source of optimism.

    Also not sure what KID's compliance plan in response to its latest delisting notice could be. The 6-month cure period for this one almost exactly coincides with the final 6 months of the 18-month cure period for its previous notice, which was attributed to failing to maintain $50M in market cap and total s/h equity. Especially since neither of these appear to be getting repaired, I doubt that the company will be able to just throw out a reverse split as a cure.

    Book value currently sits at just over a buck, but with a negative tangible BV. Does Company have value to anyone? Are only places for hope in CEO's purchase of shares at prices upwards of $1.50 and recent addition of Loeb to Board with last reported holdings approximately the same as other largest shareholder (about 9% each)?

    Hate to be negative, but not seeing many bright spots at present.

  • Reply to


    by bigmoneyruss2 Feb 6, 2014 2:48 PM
    selllowtome selllowtome Feb 16, 2014 7:18 PM Flag

    Apparently not yet. Although those tracking the closing price would know that the $0.70 close on February 10th sealed KID's fate for receiving the notice and was presumably factored into the trading ranges the rest of the week, which took it down as low as $0.60. We shall see . . .

  • Reply to

    Rosarito Desalination Plant update

    by tdm2626 Feb 14, 2014 2:58 PM
    selllowtome selllowtome Feb 15, 2014 2:47 PM Flag

    Nice complement to Percoco's recent SA article. Notes that many things are underway that have the potential to move markets sooner rather than later -- especially if CWCO will be forking over another $17M in May and expects to achieve "financial close" on the project by year end. Still amazed that this 100+-employee company is taking on such a large, complex project on its own. Must be constantly answering phone calls from potential equity partners.

  • Reply to

    Share Dilution

    by selllowtome Nov 26, 2013 9:02 AM
    selllowtome selllowtome Feb 12, 2014 9:59 AM Flag

    Of course, one "good" thing about dilution is that it also makes losses look smaller.

  • Reply to


    by selllowtome Jan 13, 2014 8:09 AM
    selllowtome selllowtome Feb 2, 2014 5:14 PM Flag

    Now I'm fearing a delisting notice. Need some insiders to pick up some shares soon.

  • Reply to

    What is going on with NEWT?

    by jimgggg Jan 24, 2014 11:19 AM
    selllowtome selllowtome Feb 2, 2014 4:47 PM Flag

    To date company has shown shown consistent, if not earth-shattering, growth over the past several years without any bad surprises. This coupled with recent director buys in the $2.60 - $3 range (and the absence of sells by directors or CEO) may be part of the explanation.

    Sentiment: Hold

  • selllowtome by selllowtome Jan 31, 2014 8:41 AM Flag

    Really possible that increased holdings from 3,500 to more than 7M at year end?? Seeing lots of BlackRock adds last quarter. Doesn't seem to add up. Insights anyone??

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