good point. someone could make a reasonably well-informed offer (well-informed in their view), but there's no way the BOD could exercise their fiduciary duty without good numbers. what a mess.
at this share price level and with all the damage done (both in substance and cosmetics), i've got to think that the company may be ripe for a takeover at a disappointingly low price. it's out of my league to understand how that could actually happen and i'm not familiar with what shareholder protection may be in place, but ... just saying.
I guess ADES shareholders should take anything they can get. but ... doubt if anyone buying on the basis of Zacks "article" could be considered an informed investor or a "strong hand".
i don't have an informed opinion about LAES market in North America, but to me the business is intuitively appealing. I can imagine the equipment fabrication part of ADES (BCSI, custom designer and fabricator of engineered emissions control technologies) being a beneficiary of LAES equipment manufacturing spending that might come with any Highview Powere LAES deals in North America.
Michael F. Price is the only big buyer in Q1. added 523k to bring total to 800k. he'll rattle the ADES wreck into repair mode. probably already has.
From gurufocus: "Michael F. Price is the 271st richest person in the world, according to Forbes. A renowned money manager, he learned finance as a $200-a-week research assistant under Max Heine. Mr. Price earned reputation for buying undervalued companies, and raising he. He has often tussled with management of companies held in his portfolios. He sold Heine Securities in 1996 to Franklin Resources for $670 million. Now, Price manages the private firm, MFP Investors, with $1.6 billion under management, much of it his own money."
pathetic that we're left to focus on a $2 million deal for this $266 million (recently $400 million plus) market cap company. (because there's not much other current info available)
Also, how does GE fit with ADES in the Highview Power Storage picture? (see below from March, 2014 PR):
General Electric Oil & Gas (NYSE: GE) has signed an exclusive global licensing deal with Highview Power Storage, a U.K. startup that makes utility-scale liquid air energy storage systems.
The agreement is just the beginning of an early demonstration phase, according to a GE spokesperson, and will explore the opportunity to integrate Highview’s LAES technology into GE’s natural gas peaker plants.
“Highview’s readily available LAES technology, with its ease of implementation and access to an operational pilot plant, makes it an ideal partner for GE Oil & Gas to provide fully integrated energy solutions to our customers,” Luca Maria Rossi, product management general manager for GE Oil & Gas’ Turbomachinery Solutions business, said in a statement.
ADES originally said that it has a representative on the Highview Power Storage board of directors. who is that? he or she could surely write an update concerning ADES and LAES for the ADES website. surely will be reflected in the annual report of the company ... 2014...2015...2016?
was 12.8 million shares. I think there is material for a Michael Lewis book in the ADES story. or is it just a boring story of ineptitude, neglect, malfeasance, ... ?
on the other hand, imagine what will happen with some actual good news about actual business.
with demonstration that corner has been turned. optimism drove share price above eight in 2011 -- price to sales ratio at that time was, as I recall was around seven. (now just over two.) at that time market cap was nearly $160 million and annual revenue rate about $22 million. a similar valuation now (based on price to sales) would imply a share price above nine.