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Cobra Electronics Corporation Message Board

smaycs4 289 posts  |  Last Activity: 15 hours ago Member since: Oct 14, 2011
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  • on MHCC at 53 cents. Current price 4 cents. That's a 92.4% loss.

    His first post on BLGO was june 18.2014. At .63. Current price 31 cents.

    So you lost over 50%-92% of your money during a period of rising stock prices.

    Paid Tout ?

  • smaycs4 smaycs4 May 16, 2015 7:16 AM Flag

    Its 2.0725 billion. My bad. That means todays 31 cents equals approx. a 99.752% discount to $5 per share presplit. And I sold shares above $5 presplit.

  • smaycs4 smaycs4 May 16, 2015 7:04 AM Flag

    2015 Unit Offering

    On January 15, 2015, we commenced a private securities offering of “units”, each Unit consisting of a convertible promissory note and “Series A” stock purchase warrant. The price and availability of the Units are set forth in a “pricing supplement” issued from time-to-time, and priced up to a 30% discount to the market price of the Company’s common stock. The Offering is subject to an over-allotment of 20%, or an additional $1,000,000 in Units, for an aggregate total of $6,000,000, and shall be known as the Company’s 2015 “Unit Offering.” The Company has the right to register the common shares underlying the notes and warrants (“Shares”) with the Securities and Exchange Commission, and the obligation to register the Shares in the event gross proceeds of $3,000,000 are raised in the Offering.

    Purchasers of the Units will receive a convertible promissory note bearing interest at the rate of 12% per annum on the amount invested. Any interest due will be paid quarterly in arrears in cash or shares of common stock. If paid by the issuance of common stock, interest is paid at a conversion price equal to the average closing price of the Company’s common stock over the 20 trading days prior to the interest payment due date. The principal amount of the note may be paid by the issuance of shares of common stock, or cash, upon maturity at the Company’s election. When paid in shares, the number of shares to be issued shall be calculated by dividing the principal amount invested by the Unit price, as it is established at the time of the original investment by the applicable Pricing Supplement. Notes may be converted at any time by the investor, at maturity by the Company, or by the Company prior to maturity, so long as all of the following conditions are met: (i) the Shares issued as payment are registered with the SEC, (ii) the Company’s common stock closes for ten consecutive trading days at or above three times the Unit price. Notes mature on June 1, 2018.

    In addition to the convertible promissory note, each investor will receive a “Series A Warrant” allowing for the purchase of the number of common shares equal to the investment amount divided by the Unit price, (e.g., one warrant share for each share of common stock which the investor is eligible to receive through conversion of his original convertible note) and, the warrant will have an exercise price as set forth in the pricing supplement. Each Series A Warrant expires June 1, 2020. The Company may “call” the Series A Warrant, requiring the investor to exercise the warrant within 30 days or forever lose the rights to do so, only if the following conditions have been met: (i) the underlying Shares are registered with the SEC, and (ii) the Company’s common stock closes for 10 consecutive trading days at or above two times the exercise price.

  • Revenue increased but its still immaterial.

    Share count continued its growth spiral 82.9 million now which after the 1 for 25 equals 2.725 billion shares presplit, I think, (im not a math wiz, don't sue me if my math is wrong)

    For years, This stock had the same number of shares outstanding without issuing a single share.

    I think it was in the 3.3 million range.

    They ONLY lost $786,188 for the quarter versus over a million last year.

    They are pretty much pulling out all stops to sell shares at a discount to market.

    They sell shares in subsidiaries and then convert them to confuse you. And now they are just flat out selling them at 70% of market and providing a 12% rate while they wait. Calvert is "sharing" with his partners in what i believe to be securities fraud. (The SEC apparently only calls it fraud when its not disclosed)

    Note 6. Conversion of Notes

    On March 26, 2014, we issued an aggregate 1,360,000 shares of our common stock, at a conversion price of $0.25, resulting in a fair value of $584,800, as payment for an aggregate $275,000 in principal and $65,000 of accrued and unpaid interest expense for three promissory notes (originally issued on June 8, 2010, October 28, 2013, and November 15, 2013). Our stock price on the date of issuance was $0.43 per share, resulting in an additional financing costs of $244,800 which was recorded as interest expense during the three-month period ended March 31, 2014.

    Lets say his buddies were able to sell their shares for 40 cents. that's $544k versus a cost of $275k. that's +98% for his "partners". Versus a declining stock price for everyone else.

    This company continues to engage in death spiral financing over and over again. its clever, I will give them that. I believe it to be criminal but thats just from 25 years of watching it over and over again.

    FEEL FREE to ignore me. One day these madoff types will be held accountable. where are you in the ponzi scheme ?

  • Reply to

    Dutch auction

    by danageorge21 May 13, 2015 3:06 PM
    smaycs4 smaycs4 May 16, 2015 1:46 AM Flag

    Our directors and executive officers are entitled to participate in the Offer on the same basis as all other shareholders. Mr. Becker has informed us that Becker Drapkin Management, L.P. intends to tender an amount of Shares during the Offer that will result in its percentage ownership of the Company following the Expiration Date of the Offer remaining substantially equivalent to its percentage ownership of the Company immediately preceding the Offer. Mr. Bogomolny and Mr. Domenik have informed the Company that they each intend to tender a portion of the Shares beneficially owned by them. Our remaining directors and executive officers have advised us that they do not currently intend to tender Shares in the Offer. The equity ownership of our directors, executive officers and affiliates who do not tender their Shares in the Offer will proportionately increase as a percentage of our outstanding common stock following the consummation of the Offer. See Section 11

  • Reply to

    Another continuance

    by smaycs4 May 15, 2015 6:53 PM
    smaycs4 smaycs4 May 15, 2015 7:24 PM Flag

    Its almost impossible for anyone to win a defamation case.

    But, you apparently believe in miracle odds. How many more years of losses before you realize that BLGO was a pipedream ?

    I can guarantee you one thing, Im not going to that courtroom.

    I don't even think I can legally fly. Or wont be able to in the near future. And you can bet I wont be driving out there.

  • Reply to

    Interesting Article

    by t2jaguar Apr 23, 2015 1:14 PM
    smaycs4 smaycs4 May 15, 2015 7:02 PM Flag

    Probably share paid touts. MHCC has tanked really bad as it seems obvious they only exist to sell shares to patsies.

    Same could & has been said about BLGO.

    I guess its just a matter of how risky they want to be in regards to hype.

    In all BLGOs years, they have issued dozens of PRs all sounding great but almost none of them required an 8k which means the news wasn't "material". Its just BS hype.

    How long can thing company maintain an over $20 million marketcap when they have nothing of value except a hype machine ?

    It would seem this would be an ideal terminal short. Theres just not enough volume for anyone to take a meaningful short position.

    I don't short but Id bet my right arm that the share price will be 50-90% lower within 5 years. probably sooner.
    (Adjusted for the next reverse split)

    13 years never profitable. no likelyhood of material revenue in the future.

  • I guess I wont be getting served by mail afterall.

    Calvert really needs to drop this senseless SLAP because If Im going to have to spend a few grand, Im going to go hog wild in exposing him.

    Best thing for BLGO is to let this die.

    Sunshine is not MY enemy. It IS BLGOs enemy as their 13 year history of massive losses proves.

  • Reply to

    Dutch auction

    by danageorge21 May 13, 2015 3:06 PM
    smaycs4 smaycs4 May 15, 2015 5:04 PM Flag

    Is Becker Drapkin going to tender ?

  • smaycs4 smaycs4 May 14, 2015 9:50 PM Flag

    Lyle didn't sell. In fact, he said he wouldn't sell for 3 years. But the new guys can sell right away.

    The $9.57 is just a figure used to value LACO against the new company. No guarantee it will ever trade there. But it might trade higher. Hard to say.

  • Handy & Harman Ltd. Extends Tender Offer for Shares of JPS Industries, Inc. Until May 29, 2015, Due to Continuing Discussions with the Company

  • smaycs4 smaycs4 May 12, 2015 12:14 PM Flag

    I actually bought it when it was Repossession Auction and watched them transform to Latin American Casinos. Then the founder died and so did the CFO. The founders widow sold out to a scammer named Todd Sanders who sucked as much as he could, then handed the reins over to Convicted Felon Mark Roy Anderson.

    But the last 13 years of continued losses have all been at the hands of Calvert. And Joey P who used to be Andersons right hand man. Since Calvert & Anderson seem to be in the same line of work, he kept on Joey P all these years. I guess because he had a familiarity with how scamsters operate.

    13 consecutive years of losses. No reasonable likelihood of EVER having any material revenues let alone profit.

    And don't forget the reverse split.

    Interestingly. REPO was brought public by a bucketshop brokerage firm. Years later, it had about a $3 book value with about $1.60 per share in cash and no debt. That's when I bought in. At $1.125 per share.

    The founder wasn't a scammer and he went years without issuing a single share.

    Now, it appears they carry around stock certificates & pay for everything with shares.

    Because they can be printed for neearly free.

    Don't forget about the reverse split 1 for 25.

    For years, REPO & LACI had just 3.1 or 3.3 million shares outstanding and they didn't give them away like they had no value.

    Stock had a nice run to $6+ when they got into leasing out slot machines in 3rd world countries.

  • Reply to

    $1.1582 book. cash per share

    by smaycs4 Apr 3, 2015 5:35 AM
    smaycs4 smaycs4 May 11, 2015 6:02 PM Flag

    They have more at risk than we do. And a good reverse merger could triple the stock price.

    In the meantime, we wait.

  • Reply to

    ROULEAU buys 5000 at $13.50 on 5/5/15

    by smaycs4 May 10, 2015 2:11 PM
    smaycs4 smaycs4 May 11, 2015 1:59 PM Flag

    Its a stock message board. Some people might think insider buys & sells have some value.

  • They have about $1.55 per share in cash but other liabilities.

    Much depends on the NYC property and I don't know how to value it.

    Planning to hold onto my FUR for however long it takes. Hopefully we can get some more cash out of it in the next few quarters.

  • May 5, 2015 ROULEAU R MICHAEL
    5,000 Indirect Purchase at $13.50 per share. 67,500

  • Reply to

    comp sales were nearly 11% in January

    by smaycs4 May 3, 2015 1:49 PM
    smaycs4 smaycs4 May 8, 2015 9:52 PM Flag

    1 post | Last Activity: May 4, 2015 6:19 PM
    Member since: May 4, 2015

  • chaines1443
    298 posts | Last Activity: 6 hours ago
    Member since: Oct 1, 2014

  • smaycs4 smaycs4 May 7, 2015 10:50 PM Flag

    Best case on Jamul will probably be $2.30 per share 3 years from now. But, I wouldn't be surprised to see him sell it to a buddy for $1.25 per share or something.

    Yes. The note is for $60 million. The terms of the note are, it doesn’t accrue any interest until the casino opens. Once the casino opens, it carries of 4.25% cash pay coupon. But the principal essentially is not doing payable until at the end of seven years. So when you look at that, once the casino opens and, of course, we think very highly that it will be successful. I think it’s basically a financial buyer who is going to buy it. And it’s just really a question of present value of, what is the buyer want anywhere from 10% coupon to a 20% coupon. If you ran the numbers at about a 15% coupon, I think it comes out around $32 million or $33 million.

  • Hopefully, NAV increase a bit.

4.280.00(0.00%)Oct 8 3:58 PMEDT