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ModusLink Global Solutions, Inc. Message Board

spook2b 171 posts  |  Last Activity: Jul 11, 2014 1:52 PM Member since: Jul 4, 1999
  • 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

    Credit

    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.

  • Reply to

    Green!

    by reppeptgs Jun 30, 2014 3:48 PM
    spook2b spook2b Jun 30, 2014 4:25 PM Flag

    sarg, I just checked several other stocks, and I don't see the same pattern. So perhaps it is due to something else - keep the flask close at hand.

  • Reply to

    Green!

    by reppeptgs Jun 30, 2014 3:48 PM
    spook2b spook2b Jun 30, 2014 4:18 PM Flag

    And another:

    16:16 $ 5.6375 131,911

    Again, this has 2b end of quarter shuffling by the institutions.

  • Reply to

    Green!

    by reppeptgs Jun 30, 2014 3:48 PM
    spook2b spook2b Jun 30, 2014 4:16 PM Flag

    There goes a nice a/h block:

    16:13 $ 5.64 227,923

  • Reply to

    Green!

    by reppeptgs Jun 30, 2014 3:48 PM
    spook2b spook2b Jun 30, 2014 4:15 PM Flag

    Some big blocks at the close. I suspect end of quarter adjustments by institutions may have had something to do with it:

    16:00 $ 5.64 205,131
    16:00 $ 5.64 385,260
    16:00 $ 5.64 25,310
    16:00 $ 5.64 15,808

  • Reply to

    13G filing by Robert Mead

    by spook2b Jun 27, 2014 5:17 PM
    spook2b spook2b Jun 27, 2014 5:25 PM Flag

    Mead was with Silverleaf. I found a filing showing he has a position in PostRrock Energy Corp

  • This initial SEC filing shows he's got 10,083,463 of the ADRs or about 7.92% of shares outstanding.

  • spook2b spook2b Jun 27, 2014 4:24 PM Flag

    leo, google russell rebalance. Tonight's the night.

  • spook2b spook2b Jun 27, 2014 9:50 AM Flag

    Last Friday was the preliminary adjustment. They added SPPI, so I think that was part of the reason for the bump in a/h volume that day.

  • Reply to

    large after hours volume

    by spook2b Jun 20, 2014 4:54 PM
    spook2b spook2b Jun 27, 2014 9:36 AM Flag

    I've been away a lot lately, and pretty much forgot about the annual Russell reconstitution. It occurs after the close today, so expect some heavy after hours volume in several stocks. The preliminary list came out last Friday, and I suspect that that was part of the reason for the heavy a/h volume we noticed (along with a triple witch).

    Still long & strong AVNR!

  • Reply to

    Short interest up again.

    by traderalph21 Jun 24, 2014 7:56 PM
    spook2b spook2b Jun 24, 2014 11:18 PM Flag

    ralph posted the latest short interest numbers. I was out of town today and just got back. Looks as if they've added around 894K shares to the short position.

MLNK
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