U.S. Markets close in 3 hrs 53 mins

Bovie Medical Corporation (BVX)

NYSE American - Nasdaq Real Time Price. Currency in USD
Add to watchlist
3.10-0.02 (-0.64%)
As of 12:06PM EDT. Market open.
People also watch
AOICASMPDEXTSTCRVP
  • S
    Stkpicker
    Stkpicker
    They have an FDA approved product that is on the market. It is unique and embraced by our MD channel checks. It can cost $100 million to get a product like this to market and the whole market cap is $90MM with $40 million in Revenue. No debt and $10MM in cash. Giddyup.
  • S
    Steve
    Steve
    This is a pleasant surprise, anyone know why we're up on huge volume?

    Bike, is this the result of you covering your shorts?

    TIA
  • B
    Bikerider79
    Bikerider79

    This honest and above-board management just filed a document with the SEC because “The Company discovered the sample proxy cards inadvertently failed to include an option to cast a vote “against” a director nominee.” Yeah, right, it was inadvertent. Of course, the original proxy cards went out a month ago, so many people have already voted without the option to vote “against” the wonderful Makrides, Gershon, Saron and the rest of these fine, honest and competent people. I guess if I had a job where performance didn’t matter and where I was being paid millions in salary and bonuses over the past few years (some of that money directly from shareholder dilutions), I would do whatever I could to hold on to that job, too.
    https://www.sec.gov/Archives/edgar/data/719135/000071913517000036/a2017bvxdefa14a_20178.htm

    Document
    www.sec.gov
  • L
    LOUIE
    LOUIE
    Huge volume today,lot of buying
  • B
    Bikerider79
    Bikerider79
    Deathwatch?
    First, they will get approval to double the number of outstanding shares to 75,000 at the annual meeting. (This is a foregone conclusion.)
    They will then immediately or almost immediately file a Shelf Reg with the SEC to be allowed to offer the shares.
    My predictions: If they know Q3 will be a disaster – as it may well be – they will hold the offering before the earnings release, probably in early October. They are burning cash, and the only way these geniuses have been able to fund the business (and their exorbitant salaries) is through dilutions. Because shares will probably be under $2 by then, the offering will go out for maybe $1.50 a share, knocking the share price down to near or under $1. They will simultaneously hold a reverse split (probably 1:10) in the hopes of avoiding being delisted. This will knock the value of shares even lower while making the stock easier to short (vicious cycle, anyone?).
    Bottom line: By the end of the year, the value of a share to current shareholders will probably be the equivalent of 50-75 cents. If they’re still burning cash, they will be out of options at this point.
  • B
    Bikerider79
    Bikerider79
    Shareholders about to get it up the wazoo, big time. From the proxy statement:
    AN AMENDMENT TO THE COMPANY'S CERTIFICATE OF INCORPORATION TO INCREASE THE AUTHORIZED NUMBER OF SHARES OF THE COMPANY'S COMMON STOCK, HAVING A PAR VALUE OF $.001 PER SHARE ("COMMON STOCK"), FROM FORTY MILLION (40,000,000) SHARES TO SEVENTY-FIVE MILLION (75,000,000) SHARES OF COMMON STOCK.
    Share price will under $1 when this happens -- but I’m sure they’re already planning a reverse split to destroy shareholders even more. And look at those bonuses paid to this genius management! Wow!!!
    The have no shame.
  • B
    Bikerider79
    Bikerider79
    Revenue can be gamed – if management doesn’t care about what it means to the bottom line. The widening net loss is worrisome, but cash burn is more worrisome. Last year, Gerhson and the CFO said Bovie would be cash-flow neutral by the end of 2016 and cash-flow positive in 2017. A lie? Or just incompetence? Like almost everything else they have forecast and projected, from hospital approvals to channel partners to no need for further dilutions, they are not to be trusted. No wonder there is no interest in this stock. They are burning cash when they said they would be generating cash, and this is a destructive management that doesn’t have a clue.
  • B
    Buster
    Buster
    LOL. Theyre trying another presentation! They have nothing to present, except how to burn cash.
    Imageheckyeahreactiongifs
  • B
    Bikerider79
    Bikerider79
    This company and especially its management has always been a little fishy and shifty. For a long time, the CEO has been pitching the investment thesis to naïve and unquestioning shareholders that jplasma is a high-margin, high-profit product. Yet in Q2, revenue in that segment was higher and still the Y-over-Y net loss widened, even wider than analysts estimate. Obviously, something is wrong. It was apparent in the Hologic debacle that Hologic was signaling that jplasma is not a financially viable product. It looks like that is apparent with Q2 earnings. Unless there is a complete management shakeup, the stock will probably be under $1 by the end of the year. It may already be too late.
  • B
    Bob
    Bob
    A good acquisition target for the JPlasma technology?
  • B
    Bikerider79
    Bikerider79
    Revenue was higher although the net loss widened and was worse than analysts’ estimates (sure, nothing to worry about there.) Cash burn continues, down from $14.5M in Q4, $11.5M in Q1, and now at $10.2M after Q2 (I thought they were supposed to be cash flow neutral? Well, so much for that). No mention of sales channel partner (Gershie promised one by July. Well, so much for that, too.) Also, international sales down 29%, so why did these geniuses invest in Bovie Bulgaria? OEM down more than estimated (exactly as I said it would be.) The whole initial strategy of getting jplasma into hospitals, which would have been lucrative, seems to have been largely disbanded. They’re going nowhere. But give yourself a raise, Gershie!
  • S
    Stkpicker
    Stkpicker
    Good traction in plasma and that is the future. Lots of new products coming to market. This company is worth significantly more than its market value. Should be $6 in a year.
  • B
    Bikerider79
    Bikerider79
    So, Gershie, where's your promised channel partner? Earnings in a week. Tick...tick...tick
  • B
    Bikerider79
    Bikerider79
    Gershon on March 10: “We do expect that we will have a sales channel partner in place for J-Plasma, for GYN based on the conversation to-date the interest level seems high and we think that we’ll likely have a sales channel partner in place … I think it’s pretty safe to say if we have one in place it will probably occur within two to four months from now probably a safe range.”
    He had no sales channel partners then, he has none now. Just another tall tale from the pipsqueak carnival huckster, like all the others.
  • B
    Bikerider79
    Bikerider79
    Under $2, as I predicted. BVX shares are now lower than when Gershon was named CEO in December 2013, but it’s even a sadder story for shareholders. Gershon has slashed shareholder equity by almost 50 percent, doubling the number of outstanding shares from about 17 million to more than 30 million. To justify this catastrophic dilution, Bovie revenue would have had to double, which, needless to say, never will happen. Outside of paying salaries, bonuses and other compensation, where really did that money go? Meanwhile, the jplasma launch was more than a failure, it was a debacle. The overpaid Geshon and McCarthy continue to destroy the company, and even more shamefully, the past incompetent management team of Makrides, Saron and Citronowicz remain on the payroll and pull down lavish salaries and benefits considering the size and lack of performance of the company. Question for shareholders: When does incompetence rise to the level of criminality? When does giving information that you as a corporate executive should know is patently false become fraud?
  • B
    Bikerider79
    Bikerider79
    Gershon’s “guidance” is so implausible it borders on fraudulent. He is predicting “60% to 80% year-over-year” growth in advanced energy (jPlasma), yet jplasma sales have declined sharply from $1.4M in Q3-2016 to $970,000 in Q4-2017 to a shockingly low $607,000 in Q12017. (This number is even less than Q2-2016!) He also admits that OEM revenue will decline 25% to 35% year-over-year, which means -- considering this incompetent nonentity’s track record -- the decline will be even more. His overall revenue “guidance” of a gain of 5-10 percent year-over-year is a fairytale. Maybe he’s assuming that the scratch-off lottery ticket he bought will pay off and that’s part of the “guidance”? Actually, buying lottery tickets has a better chance of paying off than Bovie stock. Can someone tell me how this inept pipsqueak carnival huckster and his Chief Noncommercialization Officer are allowed to keep their jobs? If they’re waiting for the stock to dip below $1, they won’t have to wait too much longer.
  • B
    Bikerider79
    Bikerider79
    Anyone who held on after the Hologic deal blew up so fast was crazy, but the signs of the destruction of this once promising company have been going on for years. In the past, Gershon would chirp about jPlasma “metrics” such as hospital approvals, generators sold, generators in use, handpieces sold, etc., etc. All these metrics indicate if a product is selling -- or not selling. Not surprisingly, this inept CEO doesn’t even bother with any metrics or data or numbers anymore, an indication jplasma is a failure. He has very little stake in BVX stock, so why should he care about the stock price. He and his “management team” can’t get bonuses by hitting performance targets, but they got bonuses for successful dilutions -- in effect stealing money from shareholders and putting it in their pockets. The fact that no one has gotten fired indicates the Board knows nothing can save this company, so they’ll just all go down with the ship -- collecting hefty paychecks until it finally sinks.
  • B
    Bikerider79
    Bikerider79
    Earnings are an unmitigated disaster. JPlasma sales fell 37% sequentially, and have fallen for 2 straight quarters. Yet, the pipsqueak carnival huckster on March 9, when the 1st quarter was 75% over and he knew how the quarter would look, said “We expect sequential growth quarter-over-quarter and that includes Q1.” Which means, either a) Bovie didn’t sell a single jplasma product from March 10-31; b) people returned jplasma products from March 10-31; c) Gershon is delusional; d) Gershon was lying. Now you know why they did they dilution. They are running out of money. This scam has been going on for more than 10 years now. Tomorrow, the stock crashes. It is all over for Jplasma, it is probably all over for Bovie.
  • B
    Bikerider79
    Bikerider79
    As predicted, the stock is cratering. The “guidance” fraud is the same transparent trick Gershon pulled after the Hologic deal blew up, when he ordered a press release “confirming” an outlook that was false. And on March 9, this incompetent nonentity actually said sequential revenue in Q1 would be higher, when he had to know that was false. As for the conference call, Gershon made sure to hog all the time with inanities so there would be less time for questions, which he knew he couldn’t answer. And where was the chief noncommercial officer on the call? He usually likes to chime in with alternative-facts, but I didn’t hear him at all. Maybe he was planning the next dilution, when Bovie is at 10 cents a share.
  • P
    PAco
    PAco
    136,000 shares short. 23,200,000 float? No place to go but up!