More at $7.51 today.
To say im uncomfortable would be an understatement but some of my best buys came when I was uncomfortable. Hopefully this will be one too.
TUES is one, And SFY which Im taking a beating on.
They didn't even attempt to put a discount on its value....
In our opinion, calculation and application of a discount representing the perceived burdens of the legal obligation to acquire, maintain and retain the collection as an intact whole or the public knowledge of the collection’s previous failure to sell are considerations inappropriate to this assignment.
Given the magnitude of the Titanic collection, it is reasonable to accept that all the conditions implicit in the definition of Market Value may not exist at any particular time.
Furthermore, considering the unique nature of the Titanic collection, application of a discount is contrary to the definition of Market Value in that it implies undue stimulus to sell.
Even if a discount was determined to be applicable, insufficient market data exists to calculate it without arriving at a falsely accurate and misleading outcome.
$218, $189....whats the difference ?
They cant get $75 million for it.
28 posts | Last Activity: 17 hours ago
Member since: Jun 23, 2014
The stock tanked when they got done with it and when I found it, it was trading for about 1/3 of its book value and for less than its cash per share. (with no debt)
At the time, I had to open an account at the scam firm to buy the stock. It was $1.00 bid, $1.50 offer and you couldn't buy in between.
So I opened an account with the bucketshop firm, got them to sell me a few thousand shares at $1.125 and then went thru hell trying to transfer the shares out. I eventually got them out with multiple threats.
The company was nothing but a used car lot in florida. They bought reposed cars from auctions & sold them to the public. But they were not making any money because of their overhead.
The CEO ran into a deal on slot machines and would buy them for about $300 each and lease them out in South America for $100 per month.
They changed their name to Latin American Casinos, I bought a lot more stock and it ran to $5-6.
They made a decent amount of money one year excluding the cost of getting out of the car business where they took a big loss.
I sold most of my stock at big profits.
Later the CEO died and his wife inherited his stake. She sold to a scamster and the company has been a scam ever since.
The first scammer was some guy named Todd Sanders I think. The 2nd one was the convicted felon who is now in prison named Mark Roy Anderson. (Look him up) They both looted the company of all assets.
Calvert learned everything from Anderson and even hired his lacky who is still on the payroll. His name is Joey Provenzano and he has no skills other than learning from a disbarred laywer scamster.
The SEC investigated this company at my request but decided that Anderson was a much bigger fish so they went after him.
Calvert, has had control for 12 years now and has burnt millions, with no material revenues & no profit for 12 straight years.
He is a prolific liar and that's all he has done for the last 12 years.
They sell private placement shares at half of market.
He has no idea what he is doing or talking about.
This used to be a real company, 20 years ago and I made a lot of money from it.
It was took over by multiple scamsters about 15 years ago. They stripped it of all its assets & have been running scams on the public the entire time.
Dennis Calvert has not had a single profit in 48 consecutive quarters.
But please, buy all you want. Don't read the SEC filings. Just buy.
I cant & wont stop you. You will get an expensive education. I guarantee it.
They are long term investors. My guess is this will pass and the stock will go back up.
But, there are no guarantees in investing.
Well, Im feeling a whole lot of discomfort right about now.
My avg cost is $2.78.
Im also very uncomfortable with SFY which I own at much higher prices.
But, they say to buy when there is blood in the street and there seems to be a lot of it right now.
I have also been buying PBY.
The last 4 times the stock fell below $9 in the last 5 years, it went on to go much higher each time.
Im bullish because Gabelli has been buying for so long and owns so much and because they had a prior buyout offer and I think another buyout offer is a near certainty sometime in the future.
I haven't spent any time looking at the payables or receivables or margins.
I see a worst case buyout in the $12-13 range in a few years and $15-17 is possible if they get a competent CEO in here who fixes the company.
Hopefully, me and gabelli are not missing anything too important.
Per Fidelity time & sales, the largest block of the day was just 1000 shares. 9 times.
Despite total volume of 418k+.
Sure wish some Insiders would join me. And Gabelli needs to buy more too.