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I inquired about the quarterly today and this is the respone I got back. Hopefully it's the 14th rather than the 20th...
Happy friday!
Thank you for your interest in Viking Systems.
As always, the company attempts to release public information regarding the company’s quarterly financial performance within the statutory deadlines provided by the SEC.
For the quarter ended June 30, the non extended filing date is August 14, 2012 and August 20, 2012 is the extended due date for filing the Form 10-Q for the quarter ended June 30, 2012.
Regards,
Robert Mathews
Executive Vice President and CFO
Viking Systems
ph. 508 366-3668 ext 8392
134 Flanders Road
Westborough, MA 01581
Sure be glad when this summer is over...
Whoa 50k buy! Let's see what that's about!
Didn't mean to create a mountain out of a molehill. And your right about the possibility of a customer buying shares but they would have limited insight into sales unless they were talking to other surgeons/hospitals. But then you'd expect way more buying and a lot less selling. I think there has been a growing short interest here ahead of possible reporting that isn't going to thrill the market.
I could be wrong but usually the price moves indicative to news and this can't seem to get any traction over the last quarter.
Quite the reactionary.
BTW, you're right about insider trading if they are executives employed by the company. Even some underlings might be covered. But lots of people are not covered by those rules.
In my mind I was referring to people working at any of the many distributorships selling the VKNG system who might know a thing or two about how their sales, and maybe some of the other distributorships, were going.
Here's another positive thought/possibility. Maybe a doctor using the system plucked down close to $4,000 after doing a few procedures. We're all hoping they become believers and start buying.
The only point I was making was maybe the buy wasn't made by a trader trying to make a quick buck. Maybe it was bought by someone with a little more first hand knowledge before the 10Q comes out.
In any event it was just a guess. Since I have no idea, it might just be a trader, or even you. It definitely wasn't me.
It was in reference to the possibility of someone with inside sales data buying shares today.
The PR firm wasn't doing anything for them, other than sending out the press releases to a mailing list after they came out. Janice Silverman appeared to be a solid addition, but I think the jury is still out on that...
Insider trading??? What could possibly be construed as insider trading from what was posted? 10Qs are public info and the suggestion of not getting news with an upside release of positive sales numbers in the 10Q is a worthwhile trade-off for waiting without any public news...
That could be construed as insider trading. I hope thats not the case.
Good point about the new marketing people. Maybe they canned the PR firm?
I always want to hear more news, but no news and more sales is a worthy trade-off.
You're right about hearing something this week. If they don't release the 10Q and remain consistent with the previous 3 years, I would view that as a bad sign.
Agreed on wishful thinking.
THe other thing that is odd is that they brought in a VP of Sales and new VP Mktg and going silent doesn't seem like a good plan for supposedly high level talent. I would guess it takes some time to develop a new plan, but not 9 months (they were hired in October 2011). Either they have something major coming, or they're milking the cow and should be let go because I am sure they came at a fairly high price tag. Maybe a re-tool coming as we head into the end of the year, and the silence isn't helping anything.
In either case, the quarterly report would be msot helpful and would be nice to see something tomorrow or Wednesday - good news or bad.
I hear ya about announcements. Very odd that the last release I saw was on May 17th. In the last year I'm not sure they missed one month w/o saying something, let alone more than 60 days.
The 2011 10Q came out on Aug 4th; in 2010 on the 5th, and in 2009 on the 7th. Let's hope they remain consistent and the news is a surprise to the upside.
That kind of wishful thinking though feels like the kiss of death.
Not reading anything into the trades - strictly looking at what is announced publicly. As you said, trading is not consistent and VKNG not well enough known to draw any conclusions. It would be nice to see the quartely released this week with positive info and time will tell.
VKNG is almost a "market secret". With so few trades, reading anything into them tells us very little. Today is another example. Only 4 trades, each were buys, but one was 22,400 shares.
I hope that's someone in the sales pipeline who knows a little about unit sales.
Oh I'm pretty sure they will.
If they continue with posting financials ahead of the due date as they have for the past year, we shuld be seeing the 10Q this week. If not, tough to say what's happened in Q2... It's very easy to speculate either way, so we'll just have to wait for the report.
Cool thanks for clearing that up. I do hope that distributors have made progress in selling process. This company has alot of potential
I think the systems sold question was based on this specific distributor doing the advertising, not the company in general... I think most of us posting here are aware of how many systems have been sold thus far and are looking to see an increase in those numbers with the coming financials for Q2.
They sold a number of systems and have many sales reps in many parts of US, Europe, and now Asia. Cant wait till 3d is the new norm in the industry.
But have they sold a system?
Florida Surgical Systems ad:
http://www.flasurgical.net/viking-systems
Aug 3, 2011 8-K Results of Operations and Financial Condition, Summary - Full Filing at EDGAR Online(224kb)
Aug 3, 2011 10-Q
Hopefully they are on the same timeline this year and we'll hear something positive this week.
Indeed. Its easy to have integrity on the upswings. Its how you conduct yourself through the downswings that shows true character.
It's too bad that they don't even realize that bad news is more digestable than no news.
You and me both my friend. I have divested most of my position. Only holding enough for a minor interest now. The future may be good but the present sure isnt.
If history is an indicator, they should release some news next week. Their lack of pro-active excitement leaves me not looking forward to it.
The silence is pretty deafening...
No news cannot be a good sign. Being wrong would be a good thing.
The trading activity has surprised me the most. Some days being dominated by "sells"; other days by "buys"; no activity on some days too.
If we could survey distributors for their sentiment about their own pipeline and unit sales we would have the answers before Vkng releases the info.
I am troubled too by Vkng's lack of sales specifics. They have been so proactive in the past by releasing them. Any change raises a red flag.
The equity offering is likely and it would be good to be at a higher share price, but we're not. I know I'm not close enough to the industry and company to have any accurate information as to how much ground they are making in the market. At present, the stock market is saying not much, but they are a small company that has struggled in the past, which isn't helping them get much attention.
At this point, I'm going to ride it our through the end of the year at least as I still think they have something. We'll have to wait for the quarterly and any other news...
Maybe it has been delayed by the holiday or perhaps they are in some type of quiet period as they do another equity offering. If they are raising capital again it's a shame they couldn't have performed in a way that would have merited a higher share price. This one could be half the price of the last one with Clinton Group unless there are some significant sales to report.
I would have to agree about Q2 being suspect as they have been pretty prompt in announcing quarterly results about a week after quarter close and we have nothing yet. I can understand them waiting until after the holiday, but no news this morning does not appear to be good. If they haven't provided any guidance by the end of the week, I would say something is up and probably not in a good way.
Time will tell...
About how many more do you think it will take to start the propellers? That bid price of .1501 is ugly. I wonder what it is trying to say about the recently ended 2nd quarter? It could be hinting at some bad numbers or simply showing the disappointment that the usual quarterly sales update has not been issued yet.
More testimonials like the Keck Medical Center video should help propel equipment sales and the stock price.
Viking Systems technology in action at Keck Medical Center of the University of Southern California:
http://news.usc.edu/#!/article/36505/usc-surgeon-explores-3-d-visualization/
Every trade was a "buy" today.
Not many trades, but I don't think I ever saw a day like that.
The sell action for the past couple of trading days has been pretty strong. I wonder if some of the distributors had previously bought stock and are now dumping them because of inside info they have? If not them, I wonder who is behind all of the "selling"?
3 seperate 100 share bids to keep this off the floor. Anybody know who is putting those in?
Great news having big money (3,657,168 shares) come on board.
As far as your question, are you saying the board of directors has changed since Feb 15, 2012?
These are the people at DAFNA Capital Management, LLC.
Has one of these people been added to the board? (VKNG's list of board members follows.)
MANAGING MEMBERS
Nathan Fischel, M.D., CFA
Fariba F. Ghodsian, Ph.D., MBA
PROFESSIONAL TEAM
Xun Lin, CFA, MS, CPA
John Scola
David Fischel, CPA, CFA, CAIA, MBA
Identification of Viking Systems Directors and Executive Officers
As of February 15, 2012, the current directors and executive officers of Viking who will serve until the next annual meeting of shareholders or until their successors are elected or appointed and qualified, are set forth below:
Name Age Position
John “Jed” Kennedy 54 President, Chief Executive Officer and Director
William C. Bopp 68 Chairman of the Board of Directors
Joseph A. De Perio 33 Director
Hooks K. Johnston 74 Director
Amy S. Paul 60 Director
William Tumber 77 Director; Chairman of the Audit Committee and Chairman of the Compensation Committee
Robert Mathews 48 Executive Vice President and Chief Financial Officer
i dont get what you are asking??? isnt this the husband and wife MD's who bought in a .25 cents and then actually got a seat on the board??
or am i confused
Top Institutional Holders
Holder ... DAFNA Capital Management, LLC
Shares ... 3,657,168
% Out .... 5.04
Value* ... 731,433
Reported . Mar 31, 2012
Did anyone happen to notice this when it happened?
http://finance.yahoo.com/q/mh?s=VKNG+Major+Holders
Follow The Money
Me too.
I wonder why no trades today?
Im interested to see whats coming...
So few trades ... big sell blocks ... such a low price ... no pre-quarterly PR touting end-user sales ... it can all shake my confidence.
You may be right.
Wow. Someone is using those 100share buys to really pull a fast one on investors.
PPS hits 16 cents on aprox 50K shares and then a 100share lifts it up almost 20%. Too funny.. but very scary aswell.
My guess is an equity offering is coming and this time the price will be below 20 cents. I could be wrong and they could sell enough units to eliminate the need for more cash, but price action and amount of news from the company seem to say otherwise.
I think its been happening for a while, but with bid support receding its just becoming harder to hide.
There were a few big sells today. I wonder why they chose to dump those shares now?
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(Click on link below to view videos on NBC, Fox, Australia News, & More.)
http://www.vikingsystems.com/video/default.html
Viking Systems, Inc. (VKNG.OB) is a publicly owned designer, manufacturer and marketer of high-performance laparoscopic vision systems. The Company's flagship product is the 3Di Vision System, an advanced three-dimensional (3D) vision system used by surgeons for minimally invasive surgery (MIS). For the first time, surgeons are now offered 3D visualization, voice-activated access to clinical information and complete freedom of movement during MIS. These features enable surgeons to perform complex MIS procedures more confidently, allowing more patients to realize the benefits of minimally invasive techniques.
Viking also manufactures advanced two-dimensional (2D) vision systems for targeted configurations and channels, as well as 2D cameras and components, sold through strategic partner and OEM programs.
The Company is currently developing a portfolio of targeted technologies and services that serve the current and emerging needs of the minimally invasive surgical network. Viking's mission is to deliver visualization, integrated information and control solutions to the surgical team, enhancing their performance in MIS and complex surgical procedures.
Share Structure Per 10-K filed 22 Feb 2010:
Authorized Shares (AS) = 400,000,000 Shares
Outstanding Shares (OS) = 57,989,090 Shares (as of 10/04/2010)
Restricted Shares = 36,033,138 Shares
Float = 9,323,627 Shares
http://www.intuitivesurgical.com/
http://agreements.realdealdocs.com/License-Agreement/EXCLUSIVE-LICENSE-AGREEMENT-2117080/
(Click on link above for full read.)
http://www.intuitivesurgical.com/index.aspx
http://www.viddler.com/explore/intusurg/videos/35/2.559
Intuitive Surgical, Inc. trades on the NASDAQ at over $293.00+ per share under the ticker of ISRG:
http://finance.yahoo.com/q/pr?s=ISRG
http://www.bostonscientific.com/
Boston Scientific Corporation trades on the NYSE at over $5.00+ per share under the ticker of BSX:
http://finance.yahoo.com/q/pr?s=BSX
Viking Systems and Boston Scientific Extend Supply Contract Through May 2012
http://finance.yahoo.com/news/Viking-Systems-and-Boston-pz-4035167801.html?x=0&.v=1
Medtronic trades on the NYSE at over $34.00+ per share under the ticker of MDT:
http://finance.yahoo.com/q/pr?s=MDT
http://www.richardwolfusa.com/
-As of December 31, 2008, we believe more than 100 of our proprietary visualization systems were in service worldwide. Moreover, we have sold more than 1,300 2D digital cameras to ODM/OEM partners, including Boston Scientific Corporation (“Boston Scientific”) and Medtronic, Inc. (“Medtronic”). Our ODM products are jointly designed with our partners to meet their exact specifications for their particular market.
-The ODM/OEM business has provided us with a recurring source of revenue and has been a source of growth. We are the strategic visualization supplier and partner for several leading procedure-specific medical device manufacturers such as B. Braun, Richard Wolf, Boston Scientific, Medtronic and Biomet, Inc. We have sold over four thousand 2D digital cameras, accessories and unique visualization solutions to our ODM/OEM partners, and in 2007 and 2008 ODM/OEM sales accounted for approximately $5,235,000 and $5,137,000 in revenue, respectively.
-Although competition exists for aspects of our visualization product line, we believe that no single company offers a complete and independent 3D visualization and information solution specifically directed at complex minimally invasive procedures. In addition, we are not aware of any other true 3D PHD that has been cleared for marketing in surgical applications by the FDA.
-A separate high end segment of the visualization technology market is fully immersive 3D-vision-enabled robotics, in particular Intuitive Surgical’s daVinci System, which generally sells for up to $1,500,000 per system and requires disposables that cost the hospital up to an estimated $1,500 to $3,000 per procedure. We do not compete in this segment. Although the robotic technologies provided by companies such as Intuitive Surgical, Inc., with its proprietary da Vinci system, incorporate 3D vision capabilities into their systems, our products are not in direct competition with these products. Rather, our strategy is to offer standalone 3D vision capability at a base price of $100,000 to $150,000.
VKNG News
http://www.vikingsystems.com/overview/news/default.html
VKNG Management
http://www.vikingsystems.com/overview/people/executive-management/default.html
William C. Bopp
Mr. William C. Bopp was appointed Chief Executive Officer of Viking Systems, Inc. effective January 4, 2008. Prior to joining Viking, Mr. Bopp was a private investor. Previously he was with ALARIS Medical Systems, Inc., a developer, manufacturer and marketer of infusion devices and related disposable products, where he had been senior vice president and chief financial officer. Mr. Bopp joined ALARIS in March 1999, as vice president and chief financial officer. He was elected to the position of senior vice president and chief financial officer in November 1999. ALARIS was acquired for approximately $2.0 billion by Cardinal Health, Inc. in July 2004, and Mr. Bopp assisted for an additional year with the integration of ALARIS into Cardinal Health before retiring in 2005. Mr. Bopp was formerly executive vice president and chief financial officer of C.R. Bard, Inc. Since 1980, he held positions of increasing responsibility with Bard, currently a $2.0 billion developer, manufacturer and marketer of health care products. From 1995 through 1998, he also served as a member of the Board of Directors of Bard and a member of the Finance Committee of the Board. Mr. Bopp is a graduate of Harvard College, Cambridge, MA, and completed his MBA, Finance, from the Harvard Business School.
John “Jed” Kennedy
Mr. Kennedy is the president and chief operating officer of Viking Systems. Mr. Kennedy joined Vista Medical in January 1997 as vice president of research and development. He was appointed vice president/general manager of Westborough operations in January 2000 before being appointed executive vice president and COO in December 2000. Prior to joining Vista, Mr. Kennedy held various positions in manufacturing, quality engineering and product development at Smith & Nephew Endoscopy from 1984 through January 1997. From 1996 through January 1997 he was the group director of product development responsible for managing all divisional product development activities. From 1993 through 1996, Mr. Kennedy was director, research and development responsible for the management of four technology product development groups. Prior to 1984, he held various engineering positions at Honeywell’s Electro-Optics and Avionics divisions. Mr. Kennedy received a B.S. in Manufacturing Engineering from Boston University in 1979.
Robert Mathews
Prior to joining the Viking Systems’ team as the Chief Financial Officer, he was senior vice president and chief financial officer at Cardinal Health’s Clinical Technologies and Services (CTS) segment, where he was responsible for the Global Finance function across all of CTS businesses. At its formation, CTS had annual revenues of approximately $2.5 billion and approximately 8,000 employees. Before joining Cardinal Health, Mr. Mathews was with Alaris Medical Systems. Mr. Mathews, then vice president of finance, chief accounting officer, and executive committee member, was responsible for developing, implementing and managing the operational and financial strategy of Alaris. During his tenure, Mathews helped lead a successful and comprehensive strategy that would result in significant shareholder value improvement, and ultimately the successful sale of Alaris to Cardinal Health for $2 billion in an all cash transaction. Mr. Mathews, who began his career at PriceWaterhouse, earned his Bachelor of Science degree from San Diego State University where he majored in business administration with an emphasis in accounting.
Viking Systems, Inc.
134 Flanders Road
Westborough, MA 01581
Phone: 508-366-8882
Fax: 508-366-8858
Web Site: http://www.vikingsystems.com
VKNG Transfer Agent
Fidelity Transfer Company
1800 South West Temple
Suite 301
Salt Lake City, UT 84115
801-466-7208
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