The most amazing thing.....You can buy 1% of the company today for roughly $180,000! Simply incredible. Those who don't take advantage are simply being silly. Those selling are even worse. No one made any money on the drop, only a few hundred thou shares were shorted. Bye for now.
an Uptabdowntab T-shirt!
opportunity for anyone to buy shares of MCZ at a really good price. Sure, I wish it was $1.50 and rising right now, but it isn't. It is 25 cents and likely to be 25+/-5 cents for the next couple weeks. But the neat thing is there are actually shares available to buy so one can acquire 1% of the company for $180,000.
Given the circumstances, I like what they are targeting with the restructure. During the cc, Karen basically said Darren had sized the company for much higher revenue and even Darren admitted the same on prior calls saying they needed to get above $300mil to be viable. So, cutting 37% makes sense to me and it will save over $5mil per what Karen just said. To axe your CEO and BOD guys and 37% of your headcount and have it only cost $3mil in Q4 severance is pretty shrewd if you ask me. A bargain.
Then during the call, Karen implied there was likely a couple million more in low hanging fruit so it would seem to me they are likely to save themselves at least $7.5mil in FY17. This is 10 cents/share..
Some might have wanted some sort of spectacular new vision or change of direction but I think given Mad Catz situation that would not be wise. They have the products, they have viable revenue, they have relationships, etc. There is a lot to work with and if they can optimize what they have they will be nicely profitable in FY17 and we will all be much happier later this calendar year.
Then, maybe a year or so from now, many more opportunities will be available.
So, I'm content to add a few more shares, then forget about it for 9 months or so. Cheers all.
So sell your shares and move on. Why get so worked up. Maybe micro will lend you a chill pill since he isn't taking them.
Take a chill pill....or 20 of them. Relax man, sun still shining and birds are chirping.
True....but they are doing it coming off a huge revenue quarter that was bottom line profitable. They did it before it was too late.....which is a good thing.
gives every shareholder the chance to make some money over the next few years. Clean it up, Optimize operations, Maximize profit, and then either grow it or sell it. Amen.
Dude, he was under contract. Was asked to leave and agreed. Total hit for him and the others and 37% of all employees is only $3mil in Q4. Not much of a severance package, about nothing really. Had they fired him for cause, they would have spent 3X that in court.
If you read my post yesterday, I had my order 1 cent above the ask! You need to follow along closer.
Had an order sitting there to buy 100,000 at .235.....it filled a whole 400 shares so far! Share price is stupid.