If I were short, I could understand the logic of not covering. A short has a 0 - 2% chance of doubling their money in 12 weeks or losing a maximum of 9% in 12 weeks.
I bought more shares last week at 3.685.
I'm surprised there is any left as I've been eaten lots of it for the last year-plus on several different stocks.
What I like about these recent orders is it has proved to me that this can be a $50mil business in a few years and a $100mil business in a few more after that.
Easy to find, modernround all one word with a dot com at the end. I was impressed, a lot of thought and planning has gone into this. It appears they want to do it "Right" from the very start. Also neat to see that VirTra has developed custom scenarios and features for this consumer oriented experience. Also reassuring to see these sights will be offering training classes for all.
If this does hit, buckle up.
inveforsale, Why get so excited? It is not worth it. Simply sell your shares and move on to some other stock. Lots of good ones out there without the baggage. Your posts do not pass the smell test, I believe you have hidden motives and are either a short (nothing wrong with that) or a bash-n-buy guy or maybe something else.
I continue to post here because I own INVE shares and believe they will soon (a year or less) be worth much more than the current price.
So, my advice for you....if you are short, simply tell us. If so, you are smarter than me. If you are long and actually believe what you post, then you should sell and move on.
As always Hopeful, great posts and thought process and info. Very helpful. I think the CFO and CEO are smart people. I also think that they believe there is no difference between a 40 cent stock price and an 80 cent stock price or between 60mil shares and 90mil shares......and they just might be correct in the long run. I believe they want Mad Catz to be a $500mil revenue company with a rock solid balance sheet and very good profitability and once they get there they know all will be forgiven and the shareholders will be happy.
All that said, it would be refreshing and helpful for the CEO/CFO to state clearly what "success" looks like in 1 year, 3 years, 5 years.
I called in and listened live. My impression/feeling (and I like that you used that word since it is also one that I would use) was that the dividend will remain "as is" for at least a year and that they will use the available .53 to support it. Based on what I heard, I would guess that after 1 year it is more likely the dividend will increase than be reduced. Several times Penn mentioned it has become a buyers market and the climate was improving for their business.
All that said, when the questions started, it became apparent that the big boys from the big brokerages were looking for more negative stuff than positive. Penn answered everything great but it just felt like these guys were looking for any reason to sell.
I really do love this stock.....and I added a bunch today.
So b_fr_nk, help me out.....exactly why are you still here? You and your clients have sold all your shares, you hate the company management, you despise the ATM, RB4 is a one-shot/one quarter wonder, and your EPS estimate is only a couple three cents.
...yet you post like crazy and continue to spin. Why?
Should be out Friday morning before the open.
They are consistent and always announce 45 days after Q1, Q2, Q3......and 90 days after Q4.
It is also very easy to get his direct phone number. Simply call the company and ask to speak to him. About 6 - 9 months ago I posted his direct phone number on this message board.....so if you dig back you can probably find it that way. I didn't write it down so I would have to call the company to get it....and I don't care that much.
A what? I think extremejim was the one who said "never take investment advice from anyone that has a job."
My day today.....Breakfast, dropped off kids at school, walked the dog, drove around to check on a couple of my apartment buildings, Lunch, a couple hour bird hunt (shot 2) with my dog, catch up on stocks, Supper ahead......
If the stock price was $14 and dividend was 38cents/quarter then I might agree with you. But relative to a $7 stock price (far below NAV) and 28cent div (can cover forever with this sort of performance) they did spectacularly well. The very slight decline in NAV is far better than anyone had hoped.
Just for fun, think about this.....at 40 cents, every valuation metric (PS, PE, EV/EBITDA) for the company is lower than it was at 75cents EVEN IF YOU ASSUMED an additional 60mil shares! And IF YOU ASSUME A PILE OF ADDITIONAL SHARES, then you also need to realize the balance sheet suddenly has a big net surplus of cash.
I do not believe the company has sold even 1 additional share since earnings. The entire trading volume over those 3 days is far less than even 3 million!
Point is, assume the worst (about +15mil shares over the next year based on the restrictions in the ATM) and at the end of THIS FY, company will be debt free and have about $15million in excess cash. At a 40 cent stock price, PS will be 0.18, PE will be in the 4 to 10 range, EV/EBITDA will be sub-5.
Bashers can keep pounding but trading volume is about nothing so no one is benefitting from any of this. The stock is a tremendous buy and one way or another it is going to go up. Think about the 900k shorted shares, even if every one covered, their total gain was likely LESS THAN $200,000....peanuts. Let the stock go to zero and they gained a total of maybe $500,000....walnuts. Not even possible for them to get to cashews.
All the money to be made on MCZ is to the upside and it will run. Micro said it best a week or two when he said something like "it never plays out exactly like we all expect.".....but it will play out.
Cheers and feeling good again.