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ModusLink Global Solutions, Inc. Message Board

spook2b 169 posts  |  Last Activity: 19 hours ago Member since: Jul 4, 1999
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  • Ingalls & Snyder, which has a very large AVNR position, just filed their Q2 holdings report with the SEC. It's showing that they had 10,294,143 shares of AVNR stock as of 6/30/14. That compares to the 11,084,443 shares they reported for the 3/31 quarter. An institutional sale of 790K shares of AVNR might be a bit concerning, but remember that they've held those shares for a long time, and given the recent runup in AVNRs pps, prudent portfolio management would dictate that they lighten up on their position a bit - actually they only sold 7% of their holdings.

    Most institutional filings are still to come, looking forward to seeing the Baker Bros. filing since we know they upped their stake to 18,558,487 shares as opposed to the 5,790,139 shares listed on the NAZ site for Q1, so we'll get an "add" there of over 12.75M shares.

  • showing 42.5M shares repurchased @ average of $3.37. $32.5 available for future repurchases (I think that was $40.5M previously, so they may have done $8M this Q)

  • Reply to

    check the presentation

    by spook2b Jul 30, 2014 8:27 AM
    spook2b spook2b Jul 30, 2014 8:27 AM Flag

    227 new customers..

  • Showing 798 total customers vs 612 in Q1

  • search "An End To Our Relationship With Yahoo, A New Era For Equity Research" for the full details.

    SA, we'll sure miss you here at AVNR - NOT!!!!!!

  • For the period ended 7/15 MLNK had short interest of 7,021,998 shares, which is down about 4% from the figure we got 2 weeks ago of 7,320,933.

  • Reply to

    Short interest up slightly

    by e_shrink Jul 24, 2014 4:10 PM
    spook2b spook2b Jul 24, 2014 4:31 PM Flag

    e_shrink & gogh9, thanks for your efforts. I'd given up on trying to post the numbers...

  • So far the NAZ site is showing Q2 holdings reports for 8 institutions. To put that in perspective, they list 116 institutional holders for AVNR.

    There was one buy by a new institution - TFS CAPITAL LLC bought 165,384 shares.
    That more than made up for LMR PARTNERS LLP who sold out their 107,955-share position.

    The net so far looks 2b around 27K shares added, but it's still very early.

    As a benchmark for those following the institutional holdings reports at the NAZ site, I jotted down 104.881M shares in 'tute hands at the end of Q1. We'll see how that compares with the final tally for Q2 on or around Aug 14.

  • Reply to

    S8 for another 17.325 Million Shares...

    by oldbaldheadedfart Jul 22, 2014 5:59 PM
    spook2b spook2b Jul 23, 2014 2:22 PM Flag

    "One hand with a silver spoon washes the other."

    OBHF, talk about a mixed metaphor!!

    As to executive compensation & perks, I'm with you 1,000%

  • Reply to

    Poof! 95,000 shares at $5.22.

    by traderalph21 Jul 17, 2014 1:20 PM
    spook2b spook2b Jul 17, 2014 2:48 PM Flag

    There was a lot of activity just after 1:15. Here are the 2 biggest blocks:

    13:15:07 $ 5.22 45,868
    13:15:07 $ 5.22 46,729

    Possible that there was a swap of some kind.

    And, speaking of large blocks, the first Q2 institutional reports are starting to trickle out. We should have a final picture of Q2 'tute activity by mid-Aug.

  • Reply to

    MLNK files for up to $100M mixed shelf

    by spook2b Jul 7, 2014 9:23 AM
    spook2b spook2b Jul 11, 2014 1:52 PM Flag

    cpa, thanks very much for your perspective! Hoping for good news ahead.

  • The latest short interest report came out last night, and it appears that the jump in MLNK short selling may be leveling off. There were 7,320,933 MLNK shares sold short as of 6/30/2014. This compares to the 7,361,924 shares short as of the last report of 6/13/2014. As I've stated several times before, I believe that the large increase in short interest was due to the convertible note issue. MLNK short interest was reported at 590,118 on March 14, and popped up to 3,620,999 just 2 weeks later (after the convert offering). 2 weeks after that report, short interest increased to 5,135,414 shares. Here's a list for the year to date:

    06/30/2014 7,320,933
    06/13/2014 7,361,924
    05/30/2014 7,252,108
    05/15/2014 6,554,411
    04/30/2014 5,740,320
    04/15/2014 5,135,414
    03/31/2014 3,620,999
    03/14/2014 590,118
    02/28/2014 507,358
    02/14/2014 464,523
    01/31/2014 384,586
    01/15/2014 293,139

    Remember that there are less than 52M shares of MLNK outstanding, so the effect of 7.3M shares sold short is equivalent to a 14% dilution. Not to mention that MLNK trading volume is light enough that an increase in short selling of this amount likely put a great deal of pressure on the share price. Hopefully, this trend will now be reversed.

  • Reply to

    MLNK files for up to $100M mixed shelf

    by spook2b Jul 7, 2014 9:23 AM
    spook2b spook2b Jul 10, 2014 9:39 PM Flag

    cpa, I've seen an SEC interpretation of the NOL rule (Section 382, I believe) which states something to the effect that if a large holder increases their holdings (I seem to remember by 50%), that would be considered a "change of control" and would affect their ability to utilize the NOLs. It occurs to me that IF the company issues more common shares under this filing, then the percentage of Steel Partners ownership stake in MLNK would actually decrease (theoretically enabling them to purchase more shares without exceeding whatever the guideline is).

    Not sure if that is part of the plan here. The stock's price reaction to this latest shelf filing is very tame compared to the previous one, which makes me wonder.

    I believe the next earnings report is due on or about Sep 9, at which point we might be able to gauge the impact of the loss of some business on the bottom line. I guess it's possible that management might act on an acquisition before that time as fedele suggests. I did find this clip in combing through their S-3 filing with the SEC (page3) :

    Use of Proceeds
    Unless otherwise indicated in any applicable prospectus supplement, the net proceeds from any sale of securities by us will be used for general corporate purposes, which may include potential acquisitions and other strategic business opportunities. No material acquisitions are probable at this time. If we decide to use the net proceeds from a particular offering of securities for a specific purpose other than as set forth above, we will describe that in the related prospectus supplement.

    The phrase "No material acquisitions are probable at this time." seems to indicate that they aren't in the process of anything at present, but it's hard to get a read on how long "this time" might last.

  • Reply to

    Mud on Billabong

    by zoom_bee Jul 9, 2014 4:44 PM
    spook2b spook2b Jul 10, 2014 9:17 PM Flag

    chrysipp, check the bottom of the report where it says:

    #The Avg. Daily rate is an average of the last week’s production or the average after the well was put back into production.

    So I don't think you can do a straightforward calculation of the BOEP/D from the figures we have.

  • After the close. Not sure if I'll be around to provide them, but I'm sure someone will.

    Today's drop in the overall market is a concern.

  • On July 7, 2014, ModusLink Global Solutions, Inc. (the "Company") filed a registration statement on Form S-3 covering the potential sale, from time to time, of up to $100.0 million of securities, including common stock, preferred stock, senior and subordinated debt securities, and warrants to purchase any of the other securities that can be sold pursuant to the prospectus contained in the registration statement. The Company believes that the registration statement provides quick access to capital markets when needed and greater financial flexibility to the Company and the Borrowers and may enhance their ability to consummate one or several larger and/or more attractive acquisitions and should provide our clients and/or potential clients with greater confidence in the Company's and the Borrowers' liquidity.
    So it looks as if we may be seeing a deal of some kind at some point in the future...

  • Reply to

    breakout alert

    by spook2b Jul 2, 2014 12:19 PM
    spook2b spook2b Jul 2, 2014 11:12 PM Flag

    OBHF, back on June 10, the point & figure chart posted a "triple top breakout" with a preliminary price objective of $10.25 as jn_kelly alerted us to at the time. P&F charts don't give much of a feel for timing, but I just might consider selling some of the shares I bought @ 45 - 50 cents (almost 6 years ago now!) if it breaks $10 - the thought of a 20-bagger is tempting.

  • spook2b by spook2b Jul 2, 2014 12:19 PM Flag

    From the NAZ consultant site:

    BREAKOUT WATCH for possible breakout above 5.79, no resistance in area just above.
    Type: Continuation breakout from Single resistance. Target: 6.46

  • 09:55:34 $ 3.86 265,049
    10:58:27 $ 3.90 50,000

    Yesterday's volume was impressive, probably due to the FBR comments. Follow-through today would be even more impressive. You get the feeling that something might be going on with the new credit line and setting the announcement of quarterly results right after the quarter ended.

  • Reply to


    by wc7645 Jun 30, 2014 4:26 PM
    spook2b spook2b Jun 30, 2014 7:22 PM Flag

    From the filing (page 66)

    6.11 Use of Proceeds. Use the proceeds of the Credit Extensions for general corporate purposes not in contravention of any Law or of any Loan Document including, without limitation, working capital, acquisitions and dividends and stock repurchases to the extent permitted hereunder.

4.15Aug 27 4:00 PMEDT

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