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Forbes Article: This is about an investment firm and where they make their investments. Along with MDXG (which is not directly mentioned in the article but linked to Steve Gorlin), I happen to invest in another company mentioned in the article and that's how I found it.
http://www.forbes.com/sites/genemarcial/2012/07/20/an-inside-look-into-spotting-and-nurturing-potentially-super-stock-achievers/2/
Forbes Article: This is about an investment firm and where they make their investments and VHC has been a great success for them.
http://www.forbes.com/sites/genemarcial/2012/07/20/an-inside-look-into-spotting-and-nurturing-potentially-super-stock-achievers/2/
There has been a great run up over the past month. I am hopeful profit taking is all it is, however, I'm a little concerned that today's announced counter suit was perceived as a sign of weakness and a qualifier going into earnings. We will know on Tuesday, for sure.
Fighting back right before the earnings release...
http://finance.yahoo.com/news/mitek-systems-sues-usaa-defamation-110000666.html
The big guys are next!
Today's Pre-market
I don't usually think too much about Pre-market moves, as exampled by last nights .40+ drop, but this morning ipACFN is indicating +2.50. I can't find any news so is it a mistrade or did something leak before earnings?
You don't "have to" read anything. You also don't "have to" watch the pps climb.
Scam? They have real patents, real products, real clients and real revenues. They don't set the pps, the market does. They are not a PR pump firm, in fact, they rarely make PR announcements. There is no doubt the pps got ahead of itself but the USAA lawsuit blindsided EVERYONE. As of the 10-Q submitted on Feb 10, 2012, MITK states it was unaware of any legal issues:
"ITEM 1. LEGAL PROCEEDINGS.
We are not aware of any legal proceedings or claims that we believe may have, individually or in the aggregate, a material adverse effect on our business, financial condition, operating results, cash flow or liquidity."
All investors are disappointed with the revenue miss and I am particularly disappointed with the lack of clarity going forward. If you listened to the conference call this was something all the analysts hit on and never got a solid answer. This coupled with the revenue miss is why the stock got hammered, in my opinion.
The bottom line is they have patented technology that continues to be adopted and implemented. It is apparent the industry is accepting this but the cycle time to implement and collect revenues is longer than most, if not all, expected. If you believe in underlying business model and future growth, you will see this as a buying opportunity. This is why most investors bought into the company to begin with. If you believe the fundamental business has changed from why you invested, then sell.
Markman ruling out. Up 3+ in pre-market.
You beat me to the post! This whole thing appeared fishy since USAA wasn't looking for monetary benefits on the patents. If they invented the product they would be going after the money as well, right?
MITK up 8% in premarket.
Thanks for the link. The initial blurb I saw seemed odd. This certainly clarifies.
Apparently there is a rumor that USAA is challenging MITK's patents. That's all I found so far. No idea how legit it is.
I understand. I bought in based on all those positives, but the European situation is still at large for them and if you don't collect on what you sold it's hard to stay afloat. I hope they do. I think they can make a real impact worldwide.
Delay on the 10-K...this is getting ugly. I've been following this company for close to two years now and unfortunately the news keeps getting worse. GLTA.
Inside Buying in March:
Mar 23, 2012 CLOUSER CHRISTOPHER E
Director
5,638 Direct Purchase at $8.90 - $8.91 per share. 50,0002
Mar 22, 2012 RIMER RICHARD S
Director
4,400 Direct Purchase at $8.76 - $8.8 per share. 39,0002
Mar 21, 2012 MOORE JOHN A
Officer
4,000 Direct Purchase at $8.88 - $8.95 per share. 36,0002
Mar 19, 2012 MALLARD HEATHER
Officer
1,000 Direct Purchase at $8.99 per share. 8,990
Source: Yahoo Finance
Inside Buying in March:
Mar 23, 2012 CLOUSER CHRISTOPHER E
Director
5,638 Direct Purchase at $8.90 - $8.91 per share. 50,0002
Mar 22, 2012 RIMER RICHARD S
Director
4,400 Direct Purchase at $8.76 - $8.8 per share. 39,0002
Mar 21, 2012 MOORE JOHN A
Officer
4,000 Direct Purchase at $8.88 - $8.95 per share. 36,0002
Mar 19, 2012 MALLARD HEATHER
Officer
1,000 Direct Purchase at $8.99 per share. 8,990
Two things to look at first: Accounts Receivable and Debt/Equity If those are still increasing, watch out. Getting delisted from the NASDAQ will be the least of their worries.
Interview with CEO John Moore
http://microcapclub.com/2012/03/micro-cap-club-interview-with-john-moore-ceo-of-acorn-energy-acfn/
Earnings Tomorrow, CC Friday
Acorn Energy, Inc. (NASDAQ: ACFN - News) today announced that John A. Moore, Chairman of the Board and CEO of Acorn Energy, will host an investor call on Friday, March 16, 2012 at 11am ET to discuss its fourth quarter 2011 results and developments. The Company will release financial results for the fourth quarter the afternoon of Thursday, March 15, after the market closes
Just tremendous growth potential for this company.
Fidelity is now promoting MobileDeposit ad part of it's banking options! Keep 'em coming.
I do like the fact that banks are now promoting these products. I remember when Chase first started with the newlyweds depositing their wedding checks while in the honeymoon suite (whether or not that's what they should have been doing is irrelevant) and they just released the add with Drew Brees doing mobile transfer to his neighbor after his son broke one of the neighbors windows. Now Schwab is promoting it. Who's next? Fidelity, BAC, Citi? Well, they better be, or they will start losing customers.
This technology, as was stated in the conference call, is driving itself through those that implement it. If a bank doesn't have it they will lose customers. How many other products out there do you know of like that?
Thanks. I hope he is right. The footnotes should include specifics on this. We all know they have been growing sales at a tremendous clip, now they just have to collect.
No mention of AR? How are they reporting revenue when they've hard such a hard time collecting it? My advice, be sure to check the footnotes in the annual report.
MiMedx to present at the 14th Annual Needham Growth Conference
Here's the link from the conference presentation...
http://wsw.com/webcast/needham49/mdxg.ob/
They are very positive about the applications of their products...total market is approx $9Billion. Approval (and reimbursement) for CollaFix in the states is what we are all waiting for as the Amnio lines are poised to explode already.
According to the PR, the value of the new DSIT deal is over $12 mil. Take a look at this statement from the CEO in the September letter to shareholders: "In 2010, DSIT had sales of $11.5 million and pre-tax profits of $1.6 million – representing the second year of profitable 24% annual revenue growth.". Zacks recently projected DSIT would have FY2011 revs of 11.2mil and FY2012 of 12.55mil!
Insightful article:
http://www.finextra.com/news/fullstory.aspx?newsitemid=23187
Here's a great piece from Fox Business:
http://www.foxbusiness.com/personal-finance/2011/11/21/money-in-flash-literally-rivals-race-to-adopt-remote-deposit/#ixzz1f2fv0G8R
It actually gives timelines for when some of the big institutions will be online with MobileDeposit; something that wasn't done on the quarterly cc. This is the key to all the signings since this is where the revenue growth will come.
My opinion is MITK missed their number due to the low number of signees to go online in the past 6 months. That said, all these signees should come online in the near future (as indicated by this article). Furthermore, all banks and other financial companies will all need to implement some form of mobile deposit to prevent losing customers, even if for some reason, they don't want to make their deposit system more efficient and drive down their cost/transaction. Mitek is, from all accounts, 12-24 months ahead of the competition. They will be the company of choice.
For all the technologies I've missed getting in on early, I'm glad I'm on this boat already.
This is on Mitek's website:
Nov 4, 2011, 4:13pm
Wells Fargo CEO Mobile Deposit Service Makes Banking Easier for Commercial and Corporate Customers
Wells Fargo & Company (NYSE: WFC) said today it has launched the CEO Mobile® Deposit service, designed specifically for commercial and corporate banking customers.
Steve Ellis, executive vice president and head of Wholesale Services at Wells Fargo. (Photo: Business Wire)
The CEO Mobile Deposit service is accessible by downloading the CEO Mobile iPhone App at the iTunes store. The new service allows customers to capture check and money order images and deposit funds, using an iPhone (3GS and above), to their Wells Fargo commercial and corporate bank accounts anywhere, anytime.
“Back in 2007, we were the first bank to offer mobile services for commercial and corporate customers,” said Steve Ellis, executive vice president and head of Wholesale Services at Wells Fargo. “And we continue to innovate and work with our customers to design and build new services that make their lives easier.”
Once check or money order images have been captured, they are available immediately through the customer’s reporting and image search tools on the Commercial Electronic Office® (CEO®) portal. Users can enter optional location information to make it easier to identify deposits. They can also take action on returned items faster, because the electronically deposited items clear faster than traditional deposits. The CEO Mobile Deposit service is available at no additional cost to customers already using the Desktop Deposit® service; however, mobile carriers may charge a fee to access the service.
The CEO Mobile Deposit service improves cash flow by expediting deposits, taking advantage of an extended Wells Fargo deposit deadline of 7 p.m. Pacific Time / 10 p.m. Eastern Time. The CEO Mobile Deposit service offers the same security, quality, and dependability customers receive from Wells Fargo and its CEO portal, which earned the “Best Corporate/Institutional Internet Bank in North America” award from Global Finance magazine on November 3. Earlier this year, Global Finance named Wells Fargo as Best in Mobile Banking in North America for 2011 among corporate/institutional banks.
About the CEO portal and the CEO Mobile service
The CEO portal offers Wells Fargo commercial and corporate customers single sign-on access to more than 80 online banking applications and reports. The CEO Mobile service is an extension of select portal services, giving customers the ability to access accounts and make important decisions when they’re on the move. Customers can use the CEO Mobile service to initiate and approve payments, receive alerts about critical transactions or items that need attention, review account balances and transactions, manage commercial card expense reporting, review and reset rates for expiring term loans, administer and reset passwords — and now, to deposit checks and money orders on the go.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50058364&lang=en
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I don't get it either. No news and a steady drop, but a huge reversal this morning with large volume increase (already at half the 3mo avg). I'm looking forward to after hours on Monday.
Not good. Another offering, huge ARs and intimate connection to Italian problems.
Looking forward to the releasee on Monday. I am curious about the recent price decline ahead of the report. I am also hoping there is an update from the SunTrust conference today, but I'm sure it will be restricted with earnings out in a couple days.
Agreed.
Yes, but unfortunately Coke is not using Cereplast.
Always good when a company pre-announces to the upside and raises guidance, don't you think?
The commercializing of the algae was also new to me, and of course I was very pleased to hear about it. It would be great if we got an official PR about it as I have not heard it directly from the company. If I have missed something could someone please post it or add a link?
I am eagerly awaiting the quarterly report and more importantly the conference call to see what Mr. Scheer has to say.
I am sure they will address the cash-flow and algae products during the earnings conference call, which at this point I assume will be mid-February (please let me know if anyone knows otherwise). The bottom line is this projected growth is more than impressive. CERP could pass 2010 revs in 2011 Q1 alone.
The agreements keep on coming! I am interested to see what kind of revenues will be generated as the last two announcements don't give any true projections.