Western Capital Resources, Inc. (WCRS)

[otterman]

Thats very sad. Was once a great company.

[AgInAustin]

WCRS filed an 8k notice of delisting. I have not been able to reach the company. In fact, John Quandahl, hung up on me when he answered the phone and I explained who I was (I had previously left him a voicemail).

If we can prove that there are 300 shareholders, they can be forced to not go dark or to come back from the dark like what was done with HRBR. Does anyone actually read this board any more?

My questions would be:
1) What assurances do minority shareholders have that they will be kept informed of the company progress and financials and treated with respect and not diluted?
2) will you continue with dividend and even increase the dividend due to the cost savings of not being reporting?
3) What valuation metrics will be used for the buyouts be offered?
4) Why not go pink limited. Only an annual report filed with OTC is needed?

[AgInAustin]

Another great quarter/year for $WCRS. 26% y/y growth in revenue and earnings. Acquisitions made in 2021 and already in 2022 that will grow earnings. PE ratio of 6.9. A buy and keep forever type of stock. Thinly traded. Company increased repurchasing of stock.

Another great quarter for $WCRS. 26% y/y growth in revenue and earnings. Acquisitions made in 2021 and already in 2022 that will grow earnings. PE ratio of 6.9. A buy and keep forever type of stock. Thinly traded. Company increased repurchasing of stock. https://t.co/433KS4MTVA

— FredZ (@AgInAustin1) March 31, 2022

[AgInAustin]

Some WCRS info from Cedar Creek's 2021 year end letter

https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/61f9cf7a3d4ef81723c5b357/1643761530528/Q4+2021+Results+for+Cedar+Creek+Partners.pdf
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Western Capital Resources (WCRS) is another stock we have owned numerous times over the years. For a few years, it not only traded at a discount to book value, but also near its net cash, all the while paying a decent dividend. Its retail division, which direct markets roses, plants, seeds, holiday gifts and restoration products, did very well during COVID. The stock is around $7.50 with 9.1 million shares outstanding. Trailing twelve
month earnings were $1.08 per share. Book value was $8.20 per share as of September 30, 2021. Net cash was $5.07 per share. The company repurchased shares at $7 during the third quarter of 2021.
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from:

$WCRS - insider buys. Earnings are seasonal so TTM is a good measure. TTM EPS=1.09 up 30% from previous 12 months.
$5.5 cash&investments/share.
Book value=$8.31
Stock at $7.85
Little debt
share reduction
Pays dividend (1.3%)
Good management
Undervalued stock!

— FredZ (@AgInAustin1) November 16, 2021

$WCRS - insider buys. Earnings are seasonal so TTM is a good measure. TTM EPS=1.09 up 30% from previous 12 months.
$5.5 cash&investments/share.
Book value=$8.31
Stock at $7.85
Little debt
share reduction
Pays dividend (1.3%)
Good management
Undervalued stock!
===========

Good value investment

[otterman]

LOL, yeah no kidding eh. Markets cant figure out the exchange either!

[Wildbilly]

Put it up for sale on the ask lol

[otterman]

Can't wait to see what they do with my 1 share!

[Renee]

It does have an air of 'sumthin rotten in Denmark', as Shakespeare would say.

[Churak]

I saw that. It appears that everyone with less than 5,000,001 shares pre split ends up with one more share post split than what they began with pre-split.

My bad.

Not sure what the purpose is other than of you have to divide by 5,000,0001 FIRST in the ration calc, you would end up with 1 share post split vs one MORE share than what you began with. Could be a tricky way to wipe out the common sheeple

[Renee]

E-ore (my friend, FWIW) gives his interpretation on the WCRS reverse schplitt on the Reverse Splits board:


http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125072952

e-ore Member Level Friday, 09/09/16 07:34:12 PM
Re: sidedraft post# 12822
Post #
12823
of 12829 Go
"If the reverse stock split is effected, then every 5,000,001 shares of our outstanding common stock will be combined into 5,000,000 shares of outstanding common stock. We will not, however, issue any fractional shares as a result of this reverse stock split. Instead, any resulting fractional shares will be rounded up to the nearest whole share of common stock. So for example, if you were a holder of 88.25 shares of common stock, then your post-split would be determined by multiplying your 88.25 shares by 5,000,000 (resulting in a product of 441,250,000), and then dividing that product by 5,000,0001 (resulting in a quotient of 88.2499824); and the resulting fractional share would be rounded up so that you would have 89 full shares after giving effect to the reverse stock split. Similarly, if you were a holder of 10,100 shares, then your post-split would be determined by multiplying your 10,100 shares by 5,000,000 (resulting in a product of 50,500,000,000), and then dividing that product by 5,000,0001 (resulting in a quotient of 10,099.998); and the resulting fractional share would be rounded up so that you would have 10,100 shares after giving effect to the reverse stock split.
The reverse stock split will affect all holders of our common stock uniformly and will not affect any stockholder’s percentage ownership interest in our Company in other than a nominal manner."

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11536691

[Churak]

It seems to moi that they are eliminating anyone with less than 5,000,001 shares. If you have less than 5,000,001 shares, you will end up with one share.

IMHO.

This, notwithstanding, the narrative in the filing.

[sidedraft]

It appears that I was dead wrong.

Thanks to e-ore:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125072952

[Renee]

Velly intellesting theory....hmmmmmmm. Somethin is definitely wrong with that ratio.

[sidedraft]

Conspiracy theory time...

Using the data from OTC:

WCRSD Security Details 
 Share Structure 
 	Market Value1 	Not Available 
 	Authorized Shares 	100,000,000 	a/o Sep 09, 2016 
 	Outstanding Shares 	9,497,860 	a/o Sep 09, 2016 
 	-Restricted 	Not Available 
 	-Unrestricted 	Not Available 
 	Held at DTC 	Not Available 
 	Float 	2,002,221 	a/o Sep 09, 2016 
 	Par Value 	Not Available 
 Transfer Agent(s) 
 Corporate Stock Transfer, Inc. 
 Shareholders 
 Shareholders of Record 	308 	a/o Sep 09, 2016

There can only be one holder of 5,000,001 shares or more.
What if the split will give that holder of 5,000,001 or more shares, 5,000,000 shares after split.
And the other 307 shareholders get just ONE share, after the split?

[Renee]

No kidding....what was the point. Scratchin my head (SMH) on that ratio.

[sidedraft]

What could be the purpose in reducing the O/S by 0.000000002%?

[Renee]

WCRS: Reverse split: The actual ratio for this reverse split is 5,000,000 for 5,000,001. Fractional shares will be rounded up to the next whole share.

Personal note: that ratio is perplexing.

http://otce.finra.org/DLSymbolNameChanges

[undtrdr]

Hello?? $7 today? Anybody home?? Check the revs we @ Nasdaq numbers

[undtrdr]

If this latest acquisition is finalized near the beginning of July as the stated intent in the latest 8K, at the rate we are acquiring it won't be long before we'll have to scroll down this page to see it all ;)
Western Capital Resources - Holdings

[undtrdr]

Wow the acquisition's keep rolling in and these ...yes THESE additions expand the horizon & diversify even more adding very different existing business's to our holdings here.
Slated to close first part of July so this 8K is just announcing the agreement watch for 8K that seals the deal
https://www.sec.gov/Archives/edgar/data/1363958/000161577415001425/s101294_8k.htm
2 of the 3 entities are well established, top shelf, specialty online retail business's

Van Dyke's Restorers - The source for all your renovation and restoration needs
http://www.vandykes.com/default.aspx

Park Seed - Superior Germination Guaranteed
http://parkseed.com/
and this appears to be another for wholesale
http://www.parkwholesale.com/

Digging a little deeper these websites already rank incredibly high @ Alexa and on both, the rankings are on the rise.
vandyckes.com: Global Rank - 118481 US Rank - 26950!
http://www.alexa.com/siteinfo/http%3A%2F%2Fwww.vandykes.com
parkseed.com: Global Rank - 42486 US Rank - 11076!
http://www.alexa.com/siteinfo/http%3A%2F%2Fparkseed.com

The 3rd entity appears to be real estate holdings based in South Carolina related to the growing production and possibly some IP for the seed & flower, shrub etc business.
No telling what is in store on that part but how do you spell 'ASSETS'?
http://www.bloomberg.com/profiles/companies/0631279D:US-j&p-park-acquisitions-inc

Don't know what year this was posted but J&P Park Acquisitions had an estimated annual revenue of $11.8 Milly Wow just wow and 200 employees
http://listings.findthecompany.com/l/9014068/J-And-P-Park-Acquisitions-Inc-in-Greenwood-SC

From the last 10K & 10Q the pps here is no where near where it ought to be BEFORE they added another flock of Cricket locations just a month ago
https://www.cricketwireless.com/

I honestly can't for the life of me figure out why no one ever slaps the ask here .... spooky LOL

[otterman]

That is pretty tight. I dont recall anything about going private, but theyre certainly well on their way to NASDAQ.

[undtrdr]

Check out the float # here crazy low no wonder it hardly trades
a/o May 19 Float 206 620
http://www.otcmarkets.com/stock/WCRS/profile
is this # decreasing as time goes? In your experience do you think this company is about to go private?

I thought I remembered when they R/S they stated intent to eventually up list to the Naz

In other news 8K yesterday more acquisitions this past month

After giving effect to this acquisition, PQH Wireless now owns and operates approximately 110 Cricket cellular retail stores in 15 states

http://biz.yahoo.com/e/150601/wcrs8-k.html

[undtrdr]

Western Capital Resources, Inc.: Leads amongst peers with strong fundamentals
Capital Cube Analysis from Yahoo Finance News

[undtrdr]

I guess they want all the shares for themselves?? There sure aren't many available an entire 12 500 000 A/S and about half of that O/S
http://www.otcmarkets.com/stock/WCRS/profile

[otterman]

Ive had my shares since the URON days, have so few that I rarely even look at it. I think it was about 6 months ago when I noticed the inability to find the company. Ive never seen anything like this in all my time in the markets. I wonder if the company even knows? Yes all looks good as far as the stock being listed in my account holdings, except that I cant get a quote by typing in the symbol, have to use the holdings links.

[undtrdr]

hmmm that is interesting and it is most definitely obscure and off the radar .. how long have you had your shares? I have not attempted to buy since before the reverse split but on my brokerage account it shows everything fine ..company name and my position
It sure has held up well and as of today I am green again ..I think I will stick around the outlook for pps increase looks like a certainty this year looking forward to seeing the Q

[otterman]

I think some has to do with the available visibility of the stock. If I type in the symbol (or the company name for that matter) into several sites, including my brokerage, it cannot find the company. Not sure why. I have a few shares from a spinoff or something (dont recall how I got them), and the only way I can get a quote is to enter a sell order. Strange. Here's one site, try searching for it.

http://www.theglobeandmail.com/globe-investor/

[undtrdr]

Sure quiet around here for a stock that went up 53% on one $5000 transaction lol ... so much upside only 6 Mil floating shares and sitting here silently UNDERVALUED at a current market cap of $20 Mil has not caught up to growing revs/assets/recent acquisition -..maybe this will be more liquid when it gets to the Naz
$WCRS

[undtrdr]

Nice to see some ask slapping here the past couple of sessions .. selling on the bid dried up long ago ...looking forward to the next 10Q will definitely propel this severely undervalued, sleeper very rapidly on very few floating shares and no dilution in sight
I predict a Form 3/4 Insider Acquisition beforehand
$WCRS

[wiman]

Checkout the combined (after merger) financials: http://secfilings.com/searchresultswide.aspx?link=1&filingid=10357206

Combined assets-35 million, Combined liabilities-16 million, Shareholder equity-19 million, Net income per common share-.53

This company is worth way more than $3.30 per share.

[wiman]

Will the uplisting be announced this week?

[UserAlias1]

$WCRS has $3,071,565 in cash.

[otterman]

Someone should become mod and update the iBox. I have few shares from a dividend but can neither buy nor sell this issue.

[ATCrunch]

Wcrs undervalued

[wiman]

10Q looks great, net income $0.19 per share.
http://www.secinfo.com/d12TC3.n2213.htm#1stPage

[UserAlias1]

$WCRS going to keep moving higher!

[Renee]

WCRS one for 20 reverse split:

http://www.otcbb.com/asp/dailylist_detail.asp?d=06/23/2014&mkt_ctg=NON-OTCBB

[wiman]

WCRS looking to uplist.

[ATCrunch]

starts its move

[UserAlias1]

$WCRS 5-year chart has HUGE UPSIDE

[UserAlias1]

$WCRS could be a possible BUYOUT too.

[UserAlias1]

They will keep growing too. GO $WCRS

[UserAlias1]

$WCRS financials look GREAT. Lots of cash on hand.

[UserAlias1]

$WCRS is a strong buy.

[UserAlias1]

More profits coming for $WCRS. Looking great!

[UserAlias1]

$WCRS only has 60m oustanding shares too!

[UserAlias1]

$WCRS is-a-HIDDEN-GEM. HUGE upside. only $11m/MktCap.

[UserAlias1]

Agreed. $.03/EPS on .185/share-is-outstanding-Only 6x/PE-with-more-growth-coming. GO $WCRS

[UserAlias1]

YES $WCRS wll. Their-10q-says-it-all. GREAT-numbers, GREAT-business-plan, TONS-OF-UPSIDE.

[UserAlias1]

$WCRS is worth $.44 fair value. LOTS of upside for WCRS.