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Tuesday Morning Corporation Message Board

smaycs4 240 posts  |  Last Activity: 11 hours ago Member since: Oct 14, 2011
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  • Reply to

    What happens with the money?

    by jjsoong Jun 15, 2016 3:34 AM
    smaycs4 smaycs4 Jun 16, 2016 12:48 AM Flag

    The money will all find its way to shareholders over time. The spread represents the discount for those willing to hold an illiquid stock will waiting for the distributions.

    It doesn't sound like taxes will be a huge negative as they will value it at the midpoint of the bid/ask on the last day of trading.

    This opportunity to buy at a nice discount is available because much of Wall street cannot or will not hold illiquid stocks and its very possible that the value of this stock just disappears from our brokerage accounts when the stock stops trading. That's going to kill anyone who is judged on a "mark to market" basis. But its also a minor issue for the rest of us. I track my IRA on a daily basis and its going to take a huge hit in value shortly after 8/1 unless the brokerages just continue valuing it at the last trade and I cant see them doing that and then adjusting it downward with every distribution thereafter.

    It will be interesting. As someone who owns a number of CD at miniscule rates, FUR represents a very good opportunity to buy future cash flow at a discount in exchange for some uncertainty as to the actual distribution dates. And the concern over mark to market accounting for institution's.

  • smaycs4 smaycs4 Jun 15, 2016 7:20 AM Flag

    On rare occasions when stocks jump up or down a good deal and any NASDAQ dealer gets hurt, they go back & cancel the trades and blame it on some BS.

    A couple weeks ago I had one where a $4 stock fell to $3 which triggered a buy order which triggered me calling the company. A few minutes later, my trade and all trades too far below the market were cancelled, like they never happened. And the tape is fixed so the volume doesn't reflect those errant trades.

    The price increase on high volume is not alarming. the fact that it gave back most of the gains since then is.

    Cant imagine any material event that anyone had knowledge of that wouldn't require an immediate 8k.

    One of us should call the company and see if we can get anything out of them. I expected this to have been wound up and the $4 in my pocket a month or so ago.

  • Reply to

    New NAV $14.08 Per share. Down 10 cents

    by smaycs4 May 5, 2016 8:19 AM
    smaycs4 smaycs4 Jun 15, 2016 4:25 AM Flag

    Where did you get that ? My understanding was their previous NAV accounted for all cost of sales.

    Like when they sell something for say $45 million gross, that doesn't include commissions or closing costs but their NAV does.

  • Reply to

    WHY the rather mean drop?

    by tobydogno2 Jun 14, 2016 12:18 PM
    smaycs4 smaycs4 Jun 15, 2016 4:06 AM Flag

    I don't find it that unusual with a weak market and the run its had. A pause that refreshes hopefully.

    All stocks are pretty much subject to the overall market.

  • smaycs4 smaycs4 Jun 14, 2016 10:17 PM Flag

    The drop was as odd as the buying.

    I wonder if any trades got cancelled from Friday ?

  • That implies about 20% more upside with little downside.

  • When his delusional sales forecasts fail to materialize.

    Mark my words.

  • Take it.

    I continue to believe this stock is worthless. And their balance sheet and 14 year track record of losing money backs that belief up.

    And don't even get me started on the half dozen proven illegal stock touts that have pumped BLGO as well as another worthless scam stock that is ZERO now.

    Its like they didn't even attempt to create new monikers to cover up their past crimes.

  • Reminds me of a stock I was buried in way back when. It was trading around $1 but on very little volume and I called the president out of the blue. I just expressed my pain in holding the stock for so long.

    And while he knew they were in the middle of merger talks, he didn't tell me that. He just said, I think better times are ahead for the stock. Sure enough, 5-6 weeks later they announced a deal for $2.95 a share.

    That was about 15 years ago. I didn't buy more stock, and nobody else did. The deal came out of the blue.

    I knew the value was there but the stock went down and stayed down for a number of years before the deal.

    The stock was FLD.July 10, 2001, Plymouth, Michigan and Ball Ground, Georgia--Broder Bros.,
    Co., the nation's largest wholesaler of imprintable sportswear, and Full Line
    Distributors, Inc. (AMEX: FLD), a wholesale manufacturer and distributor of
    decorable sportswear, today announced they have entered into a definitive merger
    agreement. Under the terms of the agreement, a subsidiary of Broder Bros. will
    promptly commence a cash tender offer for all of the issued and outstanding
    shares of common stock of Full Line Distributors at a price of $2.95 per share

  • 72 year old director,MCWILLIAMS THOMAS F, bought 4000 at 9.72 today. He previously bought 10,000 at $11.25 on 4/7/11.

    FUR also announced today that the previously reported lease being held in escrow by its venture which owns 701 Seventh Avenue (a/k/a 20 Times Square) in Times Square, New York for retail space that includes part of the ground floor fronting Seventh Avenue, the entire 2nd, 3rd and 4th floors as well as part of the superstructure sign is fully executed and has been released from escrow. The lease is with Cirque Theatrical, L.L.C. for a venture between Cirque du Soleil and National Football League Properties. The lease terms are consistent with those utilized to determine Winthrop’s most recent liquidation value for the asset

  • inventory still seems to be lean & mean.

    I recently bought some marked down stuff at walmart so I compared it to what TUES had.

    A cat bed from walmart, regular $12.88, I paid $5.00 with a free package of cat nip. TUES had a more luxurious one for $14.99.

    Hand towel, I bought a single hand towel for $1.50 in an odd purple color. the cheapest tues had was $5.99.
    Finally I got a foam bath mat for $3.50. TUES didnt have anything similar.

  • Reply to

    Must be good beer

    by tobydogno2 Jun 3, 2016 10:22 AM
    smaycs4 smaycs4 Jun 4, 2016 10:15 AM Flag

    What firm. They sure are keeping it a secret.

  • And it needs to be put on the block.

    Would it fetch $13.50-15 from a synergistic buyer ?

  • Common Stock, stated value $0.05 per share 06/01/2016 P (1) 1,051 A $ 415.1 (2)
    Common Stock, stated value $0.05 per share 06/02/2016 P (1) 273 A $ 419.17 (4)

    4. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $416.85 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote (4).

  • Reply to

    Must be good beer

    by tobydogno2 Jun 3, 2016 10:22 AM
    smaycs4 smaycs4 Jun 3, 2016 4:49 PM Flag

    The stock has massively outperformed the market for the 1, 2 and 5 year periods. The 10 year, not so much.

    The bottom line is the deal was a good one. And Instead of $13.10, I think we'd be at $7-7.50 right now if it wasn't for the reverse split.

    But maybe Blake insisted on it not being under $5.

  • smaycs4 smaycs4 Jun 3, 2016 9:58 AM Flag

    These guys are worried about their ongoing business. Plus, the money is saving us some interest while they wait. I have no problem with them waiting for the IRS response.

    The ongoing business is worth a lot more than the Jamul dividend. That's what we need to focus on.

    And you can always sell some shares if you require cash now.

    The interest isn't going to mgmt., its going to the entire company. And the interest cant be material at 1% or whatever. But if it saves us from paying 6-8% on borrowings its worth more.

  • I wont get the distribution on those shares. Oh well.

    Pleased that we finally have some liquidity here at a nice profit.

    Its been a long wait.

    I think the stock could continue higher. I hope so.

  • Full of hatred. But the fact remains that only one of us owns or purports to own a pinksheeter with 14 consecutive years of GOING CONCERN CLAUSES.

    Well, I actually own some of it too but am immaterial amount.

    Im fairly certain pinksheeters are shortable. Not for people like you of course but for professional investors like myself. But, no worries. I don't short, my account is not even set up to short.

    The only thing you have to fear is the reality that this company will never ever have material revenues let alone turn a profit. Its only been 14 years. I know, you have to give them at least 25 years for material revenue right ?

    Where can I buy the odor no more cat liter additive ? I hear its the next big thing. High tech and all.

TUES
7.02+0.03(+0.43%)Jun 30 4:00 PMEDT