Klingle has 100% control. Paying a premium to buy out everyone else makes no sense.
Indeed, he can sell his control stake to someone else at a premium if he wanted.
Our best bet is to wait for him to die and hope the company is sold then. But even then, why wouldn't his widow just sell her control stake at a premium and leave the rest of us where we are ?
NAV or book value isn't really relevant. LOAN is trading on its dividend.
I get about $2.51 per share diluted at the end of the 3rd quarter.
Using $13.883 million divided by 5527 diluted shares.
It might be slightly less because the share count may not reflect the entire offering.
I guess Im more qualified to be their IR firm than the firms they are paying. lol
(LOAN) announced today that its board of directors declared a $0.08 quarterly dividend instead of the $0.07 quarterly dividend that was previously declared. The dividend will be paid to all shareholders of record on January 10, 2015 with pay date on January 15, 2015.
The board has not changed the $0.07 quarterly dividend that is set for April of 2015
Kicking myself for not buying more below $2.50. Was thinking it might test $2.
If we presume they will go to 8 cents, its still a 9.17% yield at $3.49.
Nice to see this stock attracting yield buyers.
Analyst Wilkes Graham commented, "The Board announced a voluntary liquidation in April 2014 which was approved by shareholders on August 5, 2014 allowing for a 2-year liquidation period. The company's detailed asset-level disclosures provide for a solid basis from which to estimate future liquidation proceeds. We arrive at a Liquidation NAV of $21.03 compared to the company's recent estimate of $18.35. The most critical asset in our NAV is 20 Times Square, the company's $1B hotel/retail development in NYC. In this report, we lay out in detail the assumptions in our Liquidation NAV model and note that the longer FUR waits to sell its interests in assets in which we ascribe NAV upside, the greater the potential returns for shareholders along the way. Further, management, led by Michael Ashner of previous liquidations lore, could sell the company at any point, thereby accelerating returns."
This is from the same guy that most of us wanted gone way back when.
Not sure how it all went down but its nice to see.
Book value is up to 75.3 cents (I think) And future imprved profitability is very likely. "We look forward to continued improvements in the operational results going forward.”
Seems to me the stock should be trading for at least book value. Possibly $1+.
Type messageThe FACTS are solidly on my side. TRUTH is on my side.
GAAP losses of over $64 million.
Nuway oil & gas=Belly up.
Nuway Medical=Belly up
Beep for free=Belly up.
This chain may well be worth more in bankruptcy than it is alive in full because they could walk away from bad leases in bankruptcy.
Absolute best case scenario would seem to be 50 cents.
And another thing, when you change CFOs just before possibly bankruptcy its usually because the old guy doesn't want the bankruptcy on his watch.
The idiot that paid up after hours is probably going to lose money here.
I was looking at both this one and CACH at around $1 thinking that one of them might be a several bagger and the other went belly up. Looks like both may be going belly up.
Any financing would be HIGHLY dilutive but still possible.
HLF is a scam company and they donate to UCLA. UCLA had to get on them regarding their representations.
Vemma says their product was endorsed by the Phoenix Suns because Vemma paid to be the official energy drink. The Suns have said they don't endorse the product whatsoever.
This company has had effectively zero revenue for over 12 years and heavy losses despite dozens of promising sounding press releases.
The end result is that 99% of outsiders who buy this stock will lose money. Just like 99% who bought 5 years ago or 10 years ago have.
Since you put so much faith in the university, why don't you get someone on the phone who actually has something to do with it and ask him what it really means ?
Don't ask the company who to call, call the university. The company will point you to a paid tout who lies for money.
he wants more here than a buyback at $10. Although that might add to the price the company is eventually sold at.
A buyback isn't a priority here. Id rather them sell it at $12-13. Fixing it will take longer but they might sell it later on for $15-17.
I knew that $21.80 call would make me wrong. It went down, so why didn't I sell it all ?
At the time, I really thought it was going higher.
Have plenty of dry powder and everything Ive bought lately has just continued lots lower. (Excluding TUES)
I might just sell out of my stocks over the next 5-10 years and give up this game.
But rates are so darn low. Do I buy a 5 year CD at 2.25% ?
I didn't expect much here. You don't have a gangbuster quarter after your president quits...or is ousted.
That said, we haven't seen any insider buying. (Gabelli is not an insider but that might change)
(Filing like an insider does not make one an insider)
I don't know how much lower it will go. Much depends on the market and last time, I sure didn't expect to buy at $3.06 but I did. I think.
I stand by my prior comments. They either sell it or fix it and sell it for more. Either way, we win.
I read something below where dan was talking about gabelli manipulating it. That's just a load of hogwash.
A near 20% holder in plain daylight ? Sounds like the conspiracy thoughts of snot nosed kid.
You never know what you might find on the bargain isle during tax loss selling. Picking the exact bottom is often impossible.
Gabelli is not going to sit on his hands & let nothing happen here.