Saturday, June 18, 2016 1:51:57 AM
On seeking alpha it was misspelled,(I'll leave it that way), but in the conference call they stated >>>
Ryan Oviatt
No. The actual purchasing has not started. We are still working with brokers and putting our agreements and contracts in place and dealing with our current block out period that we've been under. We haven't actually put that in place just yet.
I don't know how long that "period" will last and I am assuming that "blackout period" must have to do with them reporting earnings recently so I'll have to research that some more ...maybe here >>>>
https://www.sec.gov/divisions/marketreg/r10b18faq0504.htm
If you peruse that link above you will find that the company buying back stock is not as simple as ... say ... US buying stock in the open market.They are restricted by many rules.
.................
Another note about the buyback is that I could see them buying all the way up to multiple dollars per share, easily, over the next 12 months and in my opinion it isn't going to be long before we are over 2.00
One of the reasons they also stated in the conf. call specifically on this issue >>>
We recently announced the approval of our stock repurchase plan, which allows the company to repurchase up to $2 million worth of company’s stock over the next 12 months. We believe this buyback underscores our confidence in the strength of our balance sheet, our ability to create value for our shareholders, and the future prospects of the company. At recent market price levels, we believe our stock represents an excellent opportunity to buy at a significant discount and is a highly attractive investment.
AND the important part >>>
Additionally, as we have followed the correlation between our stock price and commodity prices over the past several months, we recognize the increased spread between the two, which we believe indicates a positive buying opportunity.
My theory has been for some time now that even though OIL prices have recovered substantially and will be ,in my opinion ,staying at or near the 50.00 level and churn higher as we go through the year ... the share price of PFIE has not recovered and there are numerous reasons that it should have, but no, JUGS, it doesn't include organic growth or dividends lol!
PFIE is still in many ways a start up company and therefore has to be treated as such.
Play the swings if they are meaningful but be careful because as I said months ago when this starts to move it can easily leave peeps in its dust.I know because I got dusted two years ago chasing it to 6.00
This time they are leaner and meaner with more cash on hand ...less expenses ... the revenues are gonna be a little choppy but it sounded like they are increasing their customer base ... ramping up on sales of their products for new uses and just overall sounds like the stage is set for recovery.
The market always prices stocks ahead ,,, into the future.... as we all know this one is lagging so I happen to agree with the company on the stock being an "excellent opportunity to buy at a significant discount"
Just my 2 cents ...
Seeking alpha Q4 2016 conf. call transcript >>>
http://seekingalpha.com/article/3982040-profire-energys-pfie-ceo-brenton-hatch-q4-2016-results-earnings-call-transcript?part=single
"Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing."
Recent PFIE News
- Form 8-K - Current report • Edgar (US Regulatory) • 08/07/2024 08:38:03 PM
- Profire Energy Reports Financial Results for Second Quarter 2024 • GlobeNewswire Inc. • 08/07/2024 08:10:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/07/2024 08:06:31 PM
- Profire Energy Sets Second Quarter 2024 Earnings Call for Thursday, August 8, 2024, at 8:30 a.m. ET • GlobeNewswire Inc. • 07/24/2024 05:23:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 08:47:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 08:42:30 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/14/2024 08:40:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:08:26 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 09:02:38 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/24/2024 08:36:58 PM
- Profire Energy Announces $2 Million Share Buyback Program • GlobeNewswire Inc. • 05/22/2024 09:10:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 08:45:43 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 08:11:50 PM
- Profire Energy Reports Financial Results for First Quarter 2024 • GlobeNewswire Inc. • 05/08/2024 08:10:00 PM
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