bob, I have no doubt that the cro-oked CEO is more interested in taking over the company on the cheap rather than making every effort to make it successful and increase shareholder value. In fact, any effort to increase the shareholder value will work against his objective. Accordingly, his presentations regarding performance and outlook will be at best neutral rather than a positive and assertive approach. I think there will be a subsequent buyout/merger proposal with a new configuration but whatever is offered has to be better than equivalent of $3.00 + to even have a chance for consideration.
montecher, the last two issues have been bought at $2.40 per share by the CEO who owns another company. He has been taking progressively larger stake in the company and redirected its mission to become an expanding and diversified company which also prompted the change in the name of the company and its symbol. OINK's accumulating cash and the new capital injections will be used to expand the company through acquisitions involving what he calls high growth companies but I think these measures will eventually involve his other company. So I expect more share issues and some type of a merger/buyout combining the two companies. On a longer term basis there is also the possibility of the company going private and delist from NASDAQ.
Just a kid having fun. Ignore his childish antics.
pahad, where were the institutional big boys when OINK traded into $2.30s? It went up with no trace of them. The current trading behavior is either as I have stated or we are awaiting yet another share issue.
Buford, obviously that was the intention of the CEO with his preliminary offer. He may try again with a much better deal to accomplish the same objective. But I see a cash offer or some variation of it still a possibility. The NYSE listing with great prestige argument does not hold up as much as it had in past. The capital and exchange markets are changing in China with greater possibility of more U.S. listed firms going private and eventually relist in HK/China.
I can't argue with your expansion view and it would actually be good from an economic perspective. But I am looking at trading behavior and see something else. If we are talking expansion and they keep buying shares at $2.40 with accumulating cash and positive earnings then we should not be trading below $2.00 even after today's news. I have no doubt that we shall see over $2.40s prices but not until the CEO is done doing what he is planning. Going private is still a possibility. ABAC buying his other company is another. That way he will merge his company into ABAC. There are still other possibilities. We should think in these terms.
This sucker from which I was only expecting meager profits may now pay hefty returns. I added 39,000 shares from $1.20s down to $1.13. Now I like to see it Nibbled up or spike with Nimble trading.
That is the normal pattern but it is trading differently this time. That is why I did not sell all my shares when it went above $3.00. I felt it was worth the risk to hold back more shares this time around. We shall see if I am right, but if I am wrong I can still take out nice profits for the remaining shares.
I think the CEO and his company will have a take over either through a merger or a buyout. That is the plan and that is why it is trading at this level with a lid on the price. I think it will happen before the end of the year.
Better? It can always be better but I think the earnings was very good. It is trading below cash value because of the cro-oked CEO and the unresolved buyout potential. That is one and the only reason.
I tend to agree with you. Now we know the meaning of "preliminary" :) It better be well over $3.00.
Cash !30 Million as of June. Trading below cash per share value while showing nice consecutive positive quarterly earnings. A jewel yet to be discovered and appreciated at the current market price range.
I have added shares too steves, and feel the same about the prospects including increased dividend or even a stock repurchase program. Too many positives compared to where we were when trading was halted and far greater prospects in the near future.
I sold another 5000 shares at $3.02 and I don't like the way it was trading today. I will unload most of my shares tomorrow.
Volume was up and large blocks were offered for sale. I think it will go down more tomorrow. I have bought back shares incrementally as it been dropping from $1.20s down to $1.13. It would be nice if we see low $1.00 or even below $1.00 tomorrow. This is a very unattractive stock with low potential for going over $2.00 but at around $1.00 it would an attractive stock to accumulate a significant position.