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Well, I have made a killing here. Is sure has taken a long time, but, yes, everything is legitimate and they have not diluted in years and years. I wish I had more to put into it years ago. I will still be a shareholder until someone tells me I can't be anymore...
I'll start with some of my favorite quotes from the presentation...
"There are 5,000 motorcycle and apparel dealers in the USA and 1,800
of them now stock Leatt products."
"Leatt has a 74% market share and our sales volume has increased year on year."
"All international patents were issued in the last quarter of 2011 and we are serious about the protection of our patents from infringement."
"In its short time in the chest protector market, Leatt already has 2.9% market share which is more than many established players."
"The Company has no long-term debt"
And, last, but not least...
"Our long-term goal is to list our common stock on a U.S. trading market such as NASDAQ or the NYSE and prior to such listing, we will adopt the corporate governance requirements of such trading market"
Also, the numbers are solid and consistent...all in all, a very solid presentation!
Here is Leatt's Shareholder Presentation for their recent meeting - from the Allen & Caron website.
it is a GREAT presentation, and mentions alot of interesting things!!! Great news.
Thoughts???
http://www.allencaron.com/Profiles/Investor/Investor.asp?BzID=1938&from=du&ID=59630&myID=13632&L=I&Validate=3&I=
I think the price goes up from here. All of the financial statements are "hinting" at 4Q '11, and 1Q '12 at when the financial plan is implemented.
And whatever they are "distributing" seem to be still selling pretty well across their real, tangible global distribution network.
All of us who have been here know there are just no shares being sold off right now, and anyone who wants a large number of shares will be challenged to get them at this price.
I just have a feeling that buying pressure is coming, and the share price will correct to a value more reflective of the company assets.
The Patents and all the other will just be the gravy on the top.
Here, on Facebook (anyone heard of it) -
http://www.facebook.com/pages/Leatt-Brace/138011489450
Leatt has almost 14,000 "likes" on FB - and many of them swear they are still walking from wearing this amazing device.
Man, every time I think about this stock, I just get more pissed.
at this point, I have no idea why there is zero interest in this stock, and I wish someone could/would explain it to me.
I can't wait til earnings come out, and we blow away last year's numbers - all profit, and the stock will....
not trade.
Again.
I don't think he wants anyone to actually buy the stock.
Just amazing.
I agree with all of this.
I have said this all along that this company is in a rare position where they do not have to care about their stock price - so they almost seem to separate themselves from the stock.
I am sure it all goes back to the SEC nonsense, and they are gunshy about saying anything.
The Leatt Brand is strong, though - really strong.
I keep reading how people Got "their Leatt" when they are talking about any neck brace - like if you order a soda at a restaurant you say "I'll have a coke", and no matter what they have, they bring you a soda.
And the new Leatts are really high quality.
Some good news is it is still a replacement item - they break and wear out after alot of use, but when they break (and save a neck), they make the riders feel like they are excited to replace them, and maybe even upgrade.
3Q numbers should be excellent - They should have alot of new product announcements?
http://www.dirtbikeworld.net/forum/showthread.php?p=1119693
Their Facebook site has over 10,000 friends, FFS.
The product has saved many lives and careers.
And yet no one buys or talks about their stock???
The Brand is amazing.
Am I the only one that sees the P/E ratio of like .3
Nothing bad here at all, but everybody is like....shhhhhhhhhh.....
???
Someone who likes to do DD should take a good look at LEAT
Sleeping giant.
Have you all seen the new website?
www.leatt-brace.com
They are still doing things right...
Just No Market Maker :(
Still here - still agree w/ you both. Still pecking away, but we must be the only ones, LOL.
Ryan Dungey being at the top of the sport doesn't hurt, either, although I think we are all about the new products and new sports at this point.
I'm also surprised there has not been more action from someone "anyone" to mandate either the testing standards, or braces themselves.
Same stuff, different year - lower PPS.
This is cool, too. This is a magazine article (dated today) from a Motorsports magazine in Dubai.
http://gulfpetrolheads.com/2010/05/14/hans-devices-%E2%80%93-brace-yourselves%E2%80%A6%E2%80%A6/
The article is well written in English, and details the histories of both the HANS device and the Leatt-Brace, and sings the praises of both.
There are so many magazine articles and reviews of this device it is crazy.
23,000 Google page updates in the last 24 hours for "leatt-Brace". The thing gets crazy press. Amazing.
What many hoped for: Dr. Leatt Steps Down!!
http://ih.advfn.com/p.php?pid=nmona&article=42786724&symbol=NO^LEAT
I wonder why Mr. MacDonald is not on their website under "Meet the Team".
Anyone know anything about the new CEO?
Be careful what you wish for with the SEC - If it is not on paper, it didn't happen, but if everybody goes and writes letters, they raise questions.
Just look at LEAT for an example - great company slaughtered long ago by an "investigation".
Otherwise, GO ZVTK!!
There is more hidden in this story, to be sure! Good find and post - I am assuming you have been watching the story closely.
The past history of this stock was riddled with messes like this, it seems - and this is still aftermath of the "SEC Investigation".
There will never be a true explanation of this - there are 3 sides to this story, too.
What I do know is that the stock has flatlined for years, now, while all this has been settled, and there have been substantial accounting changes within.
The share price can't go much lower, anyway, realistically.
The crappy thing has a market cap of 5 million and revenue of 10 mil plus - including paying taxes and profit.
a P/E of 0.5 can hardly be punished much more. Give it the P/E of any normal company (the product deserves this, does the management?) - but this is pretty ridiculous.
LEAT is pretty unique, though - so who knows?
"Saving lives every day - and yes, the stock tanked again."
This is all that matters.
:) Lackluster is a good word.
It is just amazing at this point - pretty unique I think.
You think the SEC still thinks they are spamming? lol.
GL to you too.
Also, FYI, here is an excellent article comparing the different options and companies making neck protection.
From Cycle News Mag - it is a very good read if interested.
http://www.cyclenews.com/articles/industry-news/2009/11/04/neck-protection-let-s-talk-about-it/full
Did anyone hear any more about Dungey's brace falling off at Atlanta? Seems like since he has been training with RC, and now since the "malfunction" - it will be interesting to see if he wears it next week (Anaheim I think).
Also, I had never seen this, but Davi M. seems pretty moved when he reflects on the brace and his crash in this short vid.
The fact that Leatt again won a lawsuit is big - isn't "prescedent" the most important aspect of Litigation ?
Thanks - and I agree that PPS is not what is important now.
The MM thing is interesting, though there is no telling a time frame, and as for urgency.......
Thanks again though.
And this 7 Page thread started 01/20 about...
"...PIMPING Your Leatt_Brace"
http://www.thumpertalk.com/forum/showthread.php?p=7530411
Another 6 Page thread (this month) of people lovin' on the Brace while organizing a Large Group Purchase.
http://www.advrider.com/forums/showthread.php?t=421543
I have seen this stuff for years
They have been busy, regardless.
Check this out.
http://www.planetminis.com/f71/where-get-leatt-brace-prescription-filled-108539.html
Dr. Prescribed Leatt-Brace?! in PA?!
I can and do find 5 good things like this for every 1 bad PR.
Do you guys mind reading more of these? I find them all the time - random Leatt stuff.
I never really post them here but I will if you want.
People like it.
Stock sux, though.
Let me know too if anyone wants to help mod - I got no skillz, and I really don't follow the market that much anymore.
And June '07 is 18 months, not 2 years, or 3 years...
I still disagree with the video timing wholeheartedly.
The helmet strap is optional I believe, and attaches to the chinstrap connections instead of drilling.
And the strap had always "floated" to allow max. Range of Movement - kinda like the "new" HANS.
This used to be able to be googled, but I can't find it now.
Here is the company site, mentioning the IP valuation report, but there will have to be some detective work done to find the actual report itself, I guess.
http://www.savantic.co.za/index_files/CaseStudies.htm
It is a good read if you can find it, I have read it several times for different info., but now I can't find it.
Its always something.
Some time ago, a company called "Savant Analytic" (or somethingf along those lines) did an IP valuation report for this company.
This company provides this service to a long list of companies and groups, and It's "quite detailed" report took like 8 months to complete.
It was pretty exhaustive, and it delved into the protective gear industry, the moto and auto racing industry, the target market, and placed a substantial value onto the research and potential profitability of the IP.
At the time, they had no real accurate comparison - HANS was successful, but they only predicted like 5-10% possible penetration with autos.
The Moto indusrty had no standard, and they seemed to look at it objectively, as well.
They mentioned the multi billion dollar industries that this device targets, and came up with (I think I remember) 120 Million$ after 5 years.
Like I said, this was just for the IP, and the potential of the product.
And if I had to guess at numbers at this point, I would say they were closer to being right than wrong.
I will try to find the thing again and post.
I don't think the PR is good. I think it is the same status quo - livin in a courtroom nonsense.
In such a litiguous society, this Leatt team sure fits in.
I hope they don't pick lawyers like they do PR guys.
So these guys are hoarding all of the technology rights they can of this AMAZING discovery?
This is good stuff.
Fullerenes and CNT's will change the world as we know it.
You will have to forgive my excitement at this entry point also.
GLA.
Guest was announced using the brace June, 2006
http://74.125.47.132/search?q=cache:RQdDuNriUAIJ:www.mmsport.com.au/download.php%3Ffid%3D68+michael+guest+leatt+brace&hl=en&ct=clnk&cd=1&gl=us
Placing the video at the earliest June, 2007.
You are right, it is a long time if that is the case, but like I said, it just popped up alot of places yesterday (AOL video, Truvideo, etc.)
I get frustrated just thinking about it
This PR from Feb, 2008 spelled it out, I guess, but geez.
February 5, 2008
CAPE TOWN, South Africa - Leatt Corporation (Gray Market: LEAT.), a Nevada, USA Corporation headquartered in Cape Town, South Africa, and the developer of the Leatt-Brace®, a Neck Brace System designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck), today announced that it has initiated a program to aggressively protect its intellectual property (IP) worldwide.
Dr. Leatt, the founder and Chief Executive Officer of Leatt said: "Leatt has spent considerable time and resources to produce an innovative neck brace technology that has been proven in the field. The company has patent coverage and other registered IP rights around the globe. Central to our corporate strategy is to aggressively take legal action against any violators of our IP, regardless of where they may be.
If they truly protected their IP, it is worth millions (has been valued as such).
The Brand now is worth millions.
The worldwide distribution network is worth millions.
Then there's the revenues/sales - more millions.
Debt Free.
I could go on and on, but it is not a normal situation, to say the least.
Not if Guest has been wearing the device for 12 months at vid filming - I can find when they announce he started, but it is way more recent than that.
I have seen so many videos on this device - I used to watch the Google hits number grow - by the thousands, then the hundred thousands - figuring exposure was a good thing.
I am not sure how I would have missed this vid, and also with the number of MOTO riders with it on in the clip, it seems recent there, too.
I don't know anymore - I know they are still selling though - just have a look around any relevant forum, and still - "Got my Leatt today" threads are still prevalent.
Anyways, at least they have news today:
Yay news........
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=leat
ARLINGTON, VA, Jan 23, 2009 (MARKET WIRE via COMTEX) -- Leatt Corporation, a Nevada corporation (PINKSHEETS: LEAT)("Company"), announced today that the Company has been named as one of twelve defendants in a 2008 lawsuit filed in Superior Court of the State of California (Los Angeles County). The plaintiff is alleging breach of warranty and product liability claims against the Company. The Company believes that the lawsuit is without merit and the Company will vigorously defend against this lawsuit. Company's insurer has appointed legal counsel to defend the lawsuit.
wow do i feel better now
Wow, and if you snoop on that site (real quick), you'll see another video with the creators of the HANS, and it shows one of their "new ideas"
Leatt will probably be suing Hans over this "new idea" - I have seen it before on the MOTO-R about a year ago.
(the one in the HANS "shop" is obviously a prototype)
This just gets ridiculouser and ridiculouser.
Almost forgot to post this, too.
It is new, I think:
http://publish.vx.roo.com/tendigital/portal/?channel=RPM&clipid=1427_rpm_brace_300407_seg&format=flash&bitrate=300
I hope that works - if not search leatt.
I have been so damn frustrated with this (and busy) that I missed this from the article you found:
ROBIN HOOD DOCTOR FOUND GUILTY
"A Robin Hood-style doctor, who defrauded medical aids of
over R90 000 to help patients who battled to pay levies, has
been found guilty of unprofessional conduct by the Health
Professions Council."
"The sentence was suspended for five years."
"When Leatt bought his Eerste River practice, he inherited the
fraudulent billing system. He discovered the system after six
months and stopped it. However, when his waiting room
cleared, he felt forced to return to the old system to regain old patients so he could repay his large practice bankloan.
The HPCSA's Kantha Padayachee said that the theory of
stealing from the rich to give to the poor could not be
condoned. However Van Niekerk said in sentencing that the
committee considered Leatt's co-operation with the police and
consistently guilty plea. He had shown 'extraordinary remorse'
and had repaid the full amount to the medical aids and his
R30 000 court fine."
This is Good News. At least it gives a potential excuse to lose focus.
I agree that Leatt has been in over his head from the beginning, I have been watching for way too long.
I agree too, that W. Buffett would love to find this company and buy it for this amazing product and market.
The brace works and everybody has one or wants one, and everybody in that friggin industry knows a "Leatt"
like they know a Coke or an Imac.
WTF
Someone here will come out smelling like a rose.
I am still long since seemingly forever ago mid '06 - but I had to stop looking at the crap they are spewing.
They are being forced to grow UP really fast, though, and Doc Leatt (apparently) needs a clear head.
Sorry for the rant.
But know I'm here with you, and it has been ridiculous for a while.
The "Leatt Brace" is insanely undervalued here.
Another 5 Star magazine review and a rule change from the UCI:
"These days it seems everywhere you look people are wearing the Leatt neck brace. A product that has taken the market by storm. Riders who don't have one, want one. Until recently there have been no competitors. The truth is, we should all be wearing one. In this issue we have already discussed the importance of protecting your knees. Now it's time to look at the neck and spine.
"We believe in them and hope you do too!"
http://easterndirt.com/10/pages/leatt.html
...And this is from CyclingNews.com
http://www.cyclingnews.com/tech.php?id=/tech/2008/news/10-24
"The UCI, the governing body for competitive cycling, has made some interesting changes to the rules for the 2009 season and beyond ...
Other notable additions to the new rulebook include a strong recommendation from the UCI that riders wear "protection for the nape of the neck and the cervical vertebrae", suggesting that we should soon expect to see the Leatt Brace and other such protective devices being worn by the downhill racers."
"The fact that people are full of greed, fear, or folly is predictable. The sequence is not predictable."
Warren Buffett
Two things all:
1) I updated some of the stuff in the Ibox - I am not the best at it, but I'll make an effort.
2) A reminder from the May Press Release - fom newly appointed Jeff Guzy:
"The audit is part of the Company's effort to enhance the scope and frequency of publicly available information, as well as to meet the requirements for quotation of the Company's common stock on a national securities exchange or quotation system."
Baby steps?
Definitely a start, and way more info than they have given in months.
In looking at the new website, 2 PR's in 2 days, and the explanations given (so far), at least they seem to be getting their ducks in a row.
They certainly still have a lot to say.
Boy, wouldn't an actual Bid/Ask be nice though....
12.1 million in profit for last year - amazing.
And it sure dosen't look like they're diluting, LOL.
As far as the amount of common stock that insiders hold, this number has been one that I have seen consistently, and I have never seen it differently...
"Shares issued to founders - 25,050,000"
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=leat
I have been long this stock (believe it or not) since May of 2006, and I have read all the reports they have issued.
They hold 25 mil out of 110 mil outstanding, and it has been constant.
Good stuff main - I still watch this company alot, but.....
Still long as well, of course, though recent attempts at buying have not gone well - E-trade probably laughs when i put the orders in.
As I have said all along though - it is just a ridiculous situation.
15 million $ market cap for a profitable global company with all this going on?
Still unbelieveable - which is the main problem at this point.....aside from the silence.