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WIth the volume being so large, I think its something more than just crappy earnings......i would nibble at 2cents if it gets there again.
Baghold. Looks like financing fell through and now we have to wait for Kendall to try to acquire a leasing company and go that route. Oh joy.
I assume there will be no financing deal in the near future?
Buy, sell or hold?
Crappy earnings.
one heckuva selloff first thang...
There's a .035 bid, think I'll wait a bit more.
SENS selling off on 10q filing
I'm banking this is why the law firm was hired, for this aspect:
Mergers and Acquisitions
With extensive experience in sophisticated, middle-market merger and acquisition transactions, we provide comprehensive counsel to clients completing domestic and international mergers ranging from $20 million to more than $2 billion. We also regularly represent buyers and sellers in corporate, international, transaction financing, real estate, environmental law and antitrust/Hart-Scott-Rodino clearance.
Private Capital
Our Private Capital attorneys advise venture capital, private equity and other growth and acquisition clients nationwide. We advise these clients in fund formation, capital raising, investments and acquisitions, and the management and occasional liquidation of portfolio companies.
=========
They also do bankruptcies, but since SENS' only debt that I know of is to Bob Kendall himself, I don't think he'd filed Chapter 11 to avoid paying himself.
Heck no. Still waiting on inevitable news whether bad or good (I'm betting on good) but something is without question in the works.
New (bigger) law firm hired, Kendall in an unusual "silent period."
Either they're being sued and shareholders are screwed (I don't think so) or the long awaited giant deal is about to be completed (I think so).
Here's the new law firm:
http://www.bakerlaw.com/locations/officeinfo.aspx?id=91
One more thing....quote from the CEO....
"I've personally raised billions of dollars for companies in my lifetime. There are very few people in the world who can honestly say that."
Yup, like playing blackjack IMO...
Only we have an 20, the dealer has a 6, and if we win it pays 5 or 10 to 1.
I like the odds a lot here.
Thanks. Sounds like more than 50% chance to make 5 fold plus.
sam
I'll offer a little imput that might help answer that question. The lending firm that took Kendall's former company public(IPO) undoubtedly came away from that venture with much confidence in his ability to run and grow a company. He sold LDI , I believe was the name ,for over 300,000,000. Recently the Pr's addressing this newly sought financing has moved from "looking at numerous options" to" we are in discussions with a SPECIFIC firm working hard to accomplish the goals of financing with more favorable terms for SENS than currently enjoyed" or maybe I should say I am paraphrasing the company comment. I inquired as to whether this "firm" could be the one that took the former company public? I was told , Hell no SENS is to small for that firm to even bother with but that the specific players in that firm rsponsible for the previous working relationship with Kendall had now formed their own firm and were the ones Sens is in discussions with. Now nothing was said to suggest they would get the deal done. However, the past experience and its success could bode well for this getting inked since the same ball players only with a different team where the ones involved in current discussions. FWIW
Thanks Rawnoc eom
A bank gave them $2.5 million before.
More likely a financing partner who would be part of the business plan, would get warrants at the minimum, and who are investing in CEO Robert Kendall more than anything due to his experience.
For a severe, unrelated example, if Bill Gates were the head of a penny stock, he could snap his fingers and get $1 billion financed at 8% interest within an hour probably, lol.
Robert Kendall is no Bill Gates...not by a long shot. But maybe he can command $20 million from the right people who also have two of their guys sit on the board of directors. I have seen almost profitable companies get financing in this fashion before where the only thing it really had was a credible CEO to back the loan and a public market for the stock to profit on its success. Most notably would be ABRX in 2001 which lead to immediate growth, huge profits, and monster share price jump from their financing on the basis of just the CEO's experience. ABRX collapsed years later for unrelated reasons after the CEO was no longer involved but that's another story.
Rawnoc,
I will play for the moment role of arch critic. What kind of lender would want to loan to this company? An example of who and why would be appreciated.
sam
There was a positive article about this business segment in the austin paper today...ITs Dell fastest growing business within Dell and profitable for Dell...of course Dell has inreaods as they oftern get the contracts to dispose of old PCs when they sell the new ones...and they get the use of the money for about 5 years before the pcs are absolute and need to be disposed of...but Dell was high on the growth potential for them and it mentioned other PC manu that were getting in on the business.
Nibbling at it traces back down to .05
As long as potentially riding it to NOTHING won't kill ya.
I think the odds are weighted HEAVILY towards success, far more than just about any other penny stock there is...
Damn, now I'm putting disclaimers on my disclaimers, lol
I believe ya bro!
I have been holding this a LONG time ;) little bit longer aint gonna kill me ;)Long term gains ... when I sell ....
Cheers!
H
Volatile SOB stock. No matter....waiting on the huge news.
CEO in a rare "silent period".... the risk is the news could be BAD, very BAD, but I'm banking on it being very GOOD.
Not for the faint of heart. SENS is either going to .50 or 0, no inbetween....gambling money only but HUGE news is coming out for sure and soon. IMO very good news, but I certainly can be wrong.
tick, tock, tick, tock.... bring on whatever it is, Bob Kendall!! :)
DAMMIT :)
Come on Raw ... its goin the wrong way ;)
Holdin on like a bitin sow!
H
Do I see a gap at about .05?
Maybe this is why it doesn't fly..possible that it is trying to close the gap?
DealMaker
Rawnoc These excellent posts you are putting up on IHUH discussing this company has me wanting to quadruple my position. However I have a good one and really think its Kendall's turn to act. He will IMO but tomorrow wouldn't be soom enough. Again thanks for all the hard work at getting your DD together...MWC
SENS - potential 40 bagger?
; )
Sounds good Raw- thanks to you and MMC for some excellent dd.
SENS....connect the dots.
1) CEO negotiating financing to do a carbon copy of LDIC's business plan.
2) LDIC he founded, ran on the Nasdaq, and sold for $325 million.
3) SENS current market cap.... $7 million.
Any other questions?
Raw
For a 50 cent share price....
Using a 25 PE ratio we would need 2c/EPS -- or 1/2 a cent per quarter or $500,000
Last Quarter's 10Q:
--CEO has been quoted as stating that upon financing growth will be in the hundreds of percent within 1-2 quarters
--from filing: "The Company is now in specific discussions with a capital source and strategic partner"
--sales last Q were $1 million and break-even operations
--therefore sales should break $3 mil, gross margins about 40% on those extra sales or an extra $800k in gross profit, and I'm giving $300,000 for a 75% increase in SG&A leaving $500,000 in operating income conservatively.
CEO, Bob Kendall has never diluted a share, takes no salary, no stock options, and therefore has no incentive to hype the stock. Previous experience was as founder and chairman of LDI inc. (LDIC on the NASDAQ) until a $325 million buyout.
Risks...
-IF financing fails forcing Bob to look for a new financing deal
-If Bob quits, passes away, or falls ill
-Very little liquidity and stock very volatile (in part due to a cult-like following of Bob's holding large positions for years)
-If financing ends highly dilutive, against Bob's own interests
This is purely my opinion.
Mention on University of Pennsylvania website:
Buyers of Surplus and Used Computer Equipment
While we primarily encourage users on-campus to donate systems through CCP and other channels, we're also posting information about buyers of surplus and used computer equipment. Below is contact information regarding one such buyer we've had contact with.
Regency Technologies (based in OH)
Dana Boland
(440) 248-3991 (ext. 211)
References: Ed Erdman (King's College - 570-208-5928); Melanie Wood (Bowling Green)
Relevant Information:
- specialize in asset management and disposal on the university level
- activities include pick-up, packaging, freight, data erasure (DOD 5220.22-M compliant)
- zero landfill policy
http://www.upenn.edu/computing/provider/recycle.html
This is not a new contract but interesting nonetheless:
"The recycle center has just entered into a contract with Regency Technologies to have major businesses donate their computer equipment to us and have it processed and re-distributed by Regency Technologies. We are looking to partner with the City of Cleveland on a similar project."
http://www.goodwill-cleveland.org/recycle.html
Either way, something HUGE is boiling IMO...
It's it the much needed financing with some big name or could it be Chapter 11?
The debt SENS owes is to Kendall himself.
I'm betting on the former.
Just talked to Kendall.
He immediately said this is a time where he can't say a word about anything right now. Then he said "...but hopefully soon...errr, nope, I really can't say even that" it sounded like he was going to say something positive about hearing something soon but stopped himself.
I asked him if they're hiring and surely that is a question he can answer because I could be a non-shareholder looking for work. He said they might be in certain specialized fields, what was I interested in? Told him just asking in general to get information thinking this couldn't possibly be a hush-hush question and he said he really can't even comment on that.
I asked him if he could talk after the earnings report about what's in the report and he said that would be okay.
I thanked him for his time and told him I understood perfectly if he can't say a word about anything and hung up.
My overall impression, FWIW, is he was biting his lip very hard, nearly slipped it out something. When I asked about the hiring question there was a mild sigh and pause unsure how to handle that question whereas prior when I asked it he said quite quickly they weren't hiring. This time I got the impression that I caught him off guard and he wanted to avoid answering it.
Well I won't post on this f--ing board again..LOL. comment on the financing and some one sells 100 shares and takes this down 10%. Hope they have some free commission trades...MWC
I spoke with Kendall. The" quiet as a mouse" regarding what he was willing to say about the financing leads me to believe coming back from family vacation makes this THE priority to address and that its being handled intellingently but ever so frigging slowly. I don't think I have posted here that I completely agree with Rawnoc's assessment of Hess and Lipson's exit from the BOD. To paraphrase..the financing partner needed (demanded)a couple of seats as part of the loan . I think Lipson has for something been ready to refocus on his private practice oblications were spreading his interests to thin. I concluded that from a concersation I had with him when I got ahold of him at his law office...MWC
Kendall just got back in town yesterday. I haven't called him yet.
any word on whether we'll hear news? financing?
BUSINESS PROFILE:
"Regency Technologies specializes in the buying, selling, and trading of information technology equipment (primarily computer equipment). The primary focus of our business revolves around acquiring unneeded, older computer equipment and reselling that equipment to certain consumers on a global basis.
When a company or institution determines its equipment is at the end of a technology life cycle, it will typically go through a "refresh" process. During a typical refresh process, a company will replace an average of one third of all of its user-based technology assets (primarily computers). The typical lifespan for most of these assets is about three years. Therefore, most major corporations and institutions are refreshing one third of their IT population every year. These assets include PC's (CPU's and laptops), Servers, Monitors, Printers, Networking Equipment (routers, hubs, bridges, and other peripheral computer equipment), as well as other equipment (Midrange up to Mainframe Assets).
The asset recovery group of a company, along with its IT department, typically works to remove or dispose of the older technology assets while the new assets are being rolled out. This process often emphasizes rolling out the new equipment and tends to ignore the action plan for disposing of the old equipment. This typically results in the complete write off of the old equipment and a slow and cumbersome removal of the old equipment.
Regency Technologies seeks to fulfill a company's need to systematically and efficiently dispose of its old equipment. We use traditional sales models as well as Internet based research to identify prospects that are likely candidates for our services. We have four full time employees concentrating on sourcing equipment via asset recovery programs as well as selling equipment to wholesalers, exporters, importers and maintenance companies. We have one inside sales person who is responsible for selling equipment to retail accounts and have one inside sales person who is responsible for the sale of parts only. We expect our marketing staff to continue to expand and assist in our growth.
The Company hopes to offer a leasing option using the skills of its management team, which has extensive experience in financial services and leasing of equipment. The leasing industry generates in excess of $200 billion per year in new lease revenue and is characterized by attractive growth prospects. It is a mega-industry with many participants and no truly dominant player."
Making some adjustments to the IBOX to make it shorter-looking which is a style I personally prefer. More links, less wording, so that one can find things quicker and easier.
I'll be making some posts on this board for the purpose of providing links to them in the IBOX.
quite impressive
doesn't history always repeat itself ???
fingers crossed ...
GLTA, mith
A little SENS history....
===========
Friday, May 3, 1996...
Price closes at .0625 on 23,000 in volume:
http://tinyurl.com/b3jlx
===========
Monday, May 6, 1996....
SENS closes at .5312 on 13 million shares in volume:
http://tinyurl.com/dlfu7
===========
Tuesday, May 7, 1996....
SENS opens at .7187 and trades over 16 million shares in volume:
http://tinyurl.com/de66f
Thanks Rawnoc.
sam
We need volume. That will come with news. Hoepfully we'll hear something soon.
OT: MCDG is beyond my comprehension.
It "looks good" but mostly because I have no idea what they're talking about, lol
RAWNOC/OT:
Here is a new story that looks kind of up your alley. I would like your thoughts on MCDG.
sam
>> Raw, so what has changed since five years ago? >>
Where do we start?
We all know Mr. Kendall built LDI Corporation from scratch to a $325 million buyout.
A pattern repeating?
Kendall and Sentex acquired Regency Technologies which is SENS's current and only operating subsidiary.
They had over $1 million in sales last quarter and nearly broke even and continue to grow.
From the 2001 10k:
"NOTE 3. ACQUISITION OF REGENCY TECHNOLOGIES, LTD.
In July 2001, the stockholders of Sentex Sensing Technology, Inc. and the members of Regency Technologies, Ltd. (an Ohio limited liability company) approved a merger whereby Regency Technologies, Ltd. became a wholly-owned subsidiary of Sentex Sensing Technology, Inc., through the issuance of 1,250,000 shares of Sentex common stock in exchange for 100% of the member interest in Regency Technology, Ltd.
In the transaction, accounted for as a purchase, the Company issued 1,250,000 common shares, previously held in treasury at a cost of $.035 per share, for an aggregate purchase price of $31,250, approximating a fair market value of $.025 per share."
Not bad for $31,250 in stock. Regency at the time had NO sales. Kendall built a total POS nothing (many of us spend more on a new car then Regency was paid for) to a $4 million in sales company (not bad) that is seeking financing to expand the successful (almost profitable) business model and hopefully offer a leasing option - which is what LDI Corporation did which Kendall and others built from scratch to be on the biggest leasers of technology in the country. He takes NO salary, NO options, no compensation whatsoever, loaned the company $6.3 million, and owns half of it, much of it he paid 7.6 cents a share. The only way he makes any money for working is if he makes SENS succeed and something BIG happens to the stock price.
Raw, so what has changed since five years ago?
http://www.siliconinvestor.com/subject.aspx?subjectid=4122
Nice volume coming in this am..MWC
I am watching ...
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