Tell that to the sellers driving it down …and the buyers on the sidelines…
MGUY greatly undervalued.
FLORIDA BEAUTY FLORA, INC. AND AFFILIATES
COMBINED STATEMENTS OF OPERATIONS
For the Eleven Months and
Eighteen Days ended November 18, 2022
REVENUES $ 58,596,042
GROSS PROFIT 19,463,492
NET INCOME (LOSS) $ 356,470
Ha! I'm skeptical, too - that's why I was so pleasantly surprised!
I completely agree. Really sucks when a company doesn't put out the financials on time.
Sorry about sounding negative but I'm happy with the response.
I just wanted to hear all the positives come out.
Yep. Multiply that number by ~8.5 for full year revenues.
I get ~$48M in revenues for all of 2022.
Not only that, but NET INCOME (i.e. profits) were ~$1.5M. Multiply that for a full year and you get ~$13M in earnings. That's ~$.03 per share. Give a multiple to that number for a "fair value" share price. I get about $.45 per share!!
The revenue is only from Nov. 18, 2022 to the end of the year - " From the date of acquisition through December 31, 2022, MGUY, through the acquired FLORA companies had revenue of approximately $5,637,281." According to their March 7, 2023 posting.
Just a link to my post?
Thank you. It's a quiet board and I didn't want to fill it with info that appears negative, especially when I don't understand that information.
Don't worry about posting on-topic questions to board.
Others may be able to give you better answers than I can.
All I can say is that share dilution is almost always an issue with OTC tickers. And financing is a very common reason for "new" or "growing" companies that wish to get an OTC listing.
MGUY acquired FLORA through a reverse triangular merger with MGUY exchanging 10,000 shares of a new class of preferred stock and 350 million shares of common stock for 100% of the Flora companies. Upon the acquisition of Flora, Ronen Koubi, CEO and president of the Flora companies, became the CEO, president, and director of MGUY. CEO Ronen Koubi stated: "This transaction will enhance the ability for FLORA to competitive refrigerated transport and logistic company throughout the United States with the ability to transport and warehouse products in strategic locations to optimize and facilitate customer orders." Furthermore, Koubi says: "The company looks to grow its revenues from approximately $70 million in 2022 to $185 million by 2025 bringing significant value to its shareholders while increasing EBITDA from $3.6 million to $8.1 million during the same period."FLORA currently has approximately 230 trucks and 320 trailers under its management, as well as three main locations in Florida, Tennessee, and California. Florida is the bulk hub for FLORA with roughly 200,000 square feet of cold storage dedicated mostly to fresh cut flowers and produce, making it one of the largest in the Southeast region. Flora currently employs approximately 300 people in the United States and plans to double that number over the next few years. "While the merger into a public company is a tremendous first step, we look forward to becoming an industry leader trading on the NASDAQ," says Mr. Koubi. Mr. Koubi expects to achieve the projected revenue and profit growth through identified and targeted acquisitions, as well as creating new credit facilities to expand the fleet of trucks and warehouses. FLORA will also eliminate older trucks and trailers while refreshing its fleet with newer models and moving towards an asset-light model. Beyond a new fleet, Flora's information technology staff will focus on the addition of automation and technology. To achieve this objective, the company will integrate new IT and software capabilities both operationally and, in the fleet, bringing cost reducing algorithms that will modernize its operations which can be used with new acquisitions to simultaneously bring new fleets online throughout the United States that will be vertically integrated eliminating down times usually associated with business combinations." -
Looks to me like you turned over almost every stone.
I sure hope those financials are in line with the last press release.
I gotcha. It is a bit weird though, especially sinse I can't seem to find an 8K for the merger with MGUY.
REAC Group, Inc. Announces Director Changes
12/15/2022 | 05:20pm EDT
REAC Group, Inc. announced Ron Minsky was appointed as director of the Company and Ronen Koubi resigned his as director of the Company.
"Upon execution of the transaction, Ronen Koubi, president and CEO of the Flora companies, became the president, CEO, and director or Mogul Energy; and Steven Siegel, who previously held the same positions with Mogul, resigned."Mogul Energy, which trades as MGUY, acquired Flora through a reverse triangular merger, with MGUY exchanging 10,000 shares of a new class of preferred stock and 350 million shares of common stock for 100% of the Flora companies.
Ronen Koubi, was CEO of REAC at time of acquisition/or attempt there of/ with FLORA group
I am not saying that this is a scam. What I posted here is all that I could find. I reached out fishing for more info on this board and REAC* but I caught nothing.
So are you saying this is all just a scam?
Do you have any info on why or when the other deal fell apart?
Looks to me like it had to be the next day since that 8K is dated 12/14/22 and the announcement of the merger with MGUY was 12/16/22.
If you have any additional info, please share.
Agreed, it looked really good at first.
Sure hope we see some financials soon or at least confirmation of finalization of the merger.
where is the "change of control" document by Ronan Koubi since he bought the control block (preferred shares) from Steven Siegal on Oct 28, 2022?
last time WYPH tried to do the same thing and OTC markets put CE on the ticker. let's see if OTC catches it or not.
What was that? Another 20% drop? I am starting to fear that the acquisition may not go through - repeat of whatever happened with REAC and the Flora acquisition a month or so before MGUY announced the acquisition. Retail already sold off after the pop from the PR - why else so much heavy selling so late in the process? IMO
It is definitely concerning so YES.
Any body else nervous about the heavy volume on this drop?
Thank you for your insights.
yea Im grabbng more
Gut says we're getting close to a bottom.
I also picked up a few more shares below 12 >
With NO multiplier for revs to shares, the bare minimum value for MGUY should be around $.16 per share.
I am not trying to call any bluff - just looking for help understanding it
Those four little companies are transporting something other than flowers if they are bringing that kind of money - In My Opinion. I can't find financials on any of the four other than a reference to one of those companies expecting revenue of 1.5 million....
Got the $70M from MGUY PR.
As far as I know, no financials for MGUY have been filed with either the SEC or the OTC (Alternative Reporting Standard). I am waiting for some official filing in either place around the end of March.
But where is the 70 million from? The Flora group financials available don't seem to add up...am I missing something?
Reverse Merger Play with 7M Float and 40M O/S registered in Delaware
Clean Balance Sheet
UPDATED SHARE STRUCTURE INFO (From OTC Markets webpage)
http://www.stockscores.com/quickreport.asp?ticker=MGUY&rtype=small ------ with Dover Petroleum Corp (DVPC)