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Never saw the Ashton Kutcher connection before? Who knew, go figure :) a little pop culture/wall street action....
http://upstart.bizjournals.com/news/wire/2008/04/01/dude-wheres-my-investment.html
Got the letter, somehow got lost in the mail. Actually really liked it, nice personal touch. And shows that despite all the dozen or so companies they are looking at, they are serious about finding the ones with the good valuations. He's looking for potential, he also doesn't seem like the one to screw shareholders, he's taking his duty seriously. Either way, the right touch for a new CEO.
Interesting...the plot just got alot more intriguing on this one. Like the potential, like the players, like the things Eberwein is working on. Looks like Gottlieb might finally have one that pays off :)
cool, thanks for that, shareholder letter? strange, i didn't get it.
Hey, what's the letter you're referring to? Not appearing on my feed. I do agree though Jonathan Evans didn't build up all that experience with Crane Co. and with his pedigree to stay unemployed for long :)
More heavy volume today, let's see if CEO is buying again today.
Kind of unusual the sudden lack of pressure on the ask.
Continued very strong move up, almost half way there :)
Yeah. been a long road for us watching this fight play out, as close as Wall Street comes to a soap opera with all the players. I kind of feel like story is not close to done, more twists and turns than I've ever encountered.
I believe Rampart has to go public for that to happen and they postponed that in the last filing withdrawing registration statement. If they do go public then we will get our shares per this in the "The dividend will be payable and distributed to shareholders after the registration statement for Rampart is declared effective." We'll see, not holding out too much hope on that end.
I agree, perfect type of candidate, he'll get around to it, non-traditional thinker that he is :) I'm going to read through prospectus, see if there are any tidbits on HRG's way of thinking.
Prospectus. So HRG isn't averse to acquiring and going public :) Feel very comfortable, L2 or no L2.
http://www.sec.gov/Archives/edgar/data/1585064/000119312513350858/d588103ds1.htm
I really like that idea of the buyback, could they just use heavy cash position to accomplish this without monetizing data storage side? I know they had talked about using marketable securities to give dividend to shareholders last year, but maybe they will use for a buy back as well.
Going through more DD, have a hard time seeing much downside to the stock at the moment, got alot more upside. If you see any downside risk curious what you think that might be. Otherwise, to me at $1.08 it seems like as good a bet as any penny stock.
Another little tidbit from QBAK update:
The new board also voted to reimburse BKF Capital about $400,000 for costs relating to shareholders meetings and literature to prevent the former board from paying former CEO Lawrence Firestone a $1 million severance package.
BKF Asset Holdings, Inc. was formed on 1/26/12, just prior to the first proxy battle for Qualstar. Prior to that everything had been running through BKF Investment Group. It appears they structurally split the company into a continued asset management role and a holding company role perhaps.
https://delecorp.delaware.gov/tin/GINameSearch.jsp
Only 2 watching this stock now, I guess my DD lost 1 :)
Not same terminology as 10-K, but from the website. We know they plan to acquire companies, will that begin with QBAK or at least a portion of QBAK, power supply component?
BKF Capital Group, Inc. (BKF), founded in 1954, is a publicly traded company seeking entrepreneurial acquisition opportunities for our capital. BKF is looking to generate value opportunities where a creative approach to capital can create mutually beneficial results for not only our shareholders but for our acquired businesses and their management teams.
BKF is looking for acquisition targets that show growth characteristics at a reasonable valuation. We are seeking to purchase operating companies and/or controlling interests in such companies either through direct investment or acquisition. We believe that our seasoned team and our financial solutions can add and create value for our shareholders.
Criteria
BKF is currently seeking targets in both growth and defensible industries. We focus on targets with revenues greater than $2 million with a positive profitability trend. BKF understands the challenges growing companies face. We look for a focused management team with clear direction and a strong business plan. BKF recognizes that a growing company may be refining their product or services, systems, controls and management teams and BKF can be a partner in this process both with capital and expertise.
An article which still seems relevant from two years ago in light of what is happening. Obviously balance sheet numbers have changed however.
http://seekingalpha.com/article/247467-qualstar-a-merger-acquisition-target
Latest 10-Q from last week:
Total Assets - $545,109
Total Liabilities - $159,471
Net asset value per outstanding share - $.106
More on it's candidate which as of yet has not gotten as much attention, but should start to see Phase I results in the fall for it's treatment of major depressive disorders.
http://seekingalpha.com/article/1510342-the-neuralstem-you-dont-know
CUR has a couple years to reach that $5 mark for RONE to reap the rewards, will it make it? Will be watching especially the trial results this fall and then the Phase II for the ALS treatment. Should tell us alot.
If it's L2 still that relates here, may take a while to sort the mess out. Have only been waiting three years on this shell, what's a few more :( Got to be a long term player to consider it, but upside potential remains attractive.
http://dealbook.nytimes.com/2013/08/09/falcone-adds-defendants-in-effort-to-keep-lightsquared/
http://tmfassociates.com/blog/2013/07/22/no-longer-highly-confident/
People are stilling holding shares strong here. I wonder if there are any other options besides L2 for HRG to consider? Might be worth it to look a little more into what HRG is up to. Although, hard not to think original intention for this shell was L2.
From HRG 8-K:
Under the settlement, Mr. Falcone may continue to own and control the Company and serve as its Chief Executive Officer and Chairman of its board. The Company and its subsidiaries are not parties to the settlement and the duties and obligations described therein are the duties and obligations of the HCP Parties and not of the Company or its subsidiaries.
Shifts in latest 10-Q that I find interesting:
Addition of this language on Item 5 from previous 10-Q:
"It is the Company’s position that it is not an investment company required to be registered under the 40 Act."
BKF has publicly warned its shareholders and other investors that it is currently facing the risk of being deemed an investment company and subjected to related restrictions. BKF has also publicly warned its shareholders and other investors that were it to be deemed an investment company, it could face material adverse consequences if were not able to comply with the applicable regulatory requirements.
BKF needs to consummate an acquisition, merger or other business combination with a viable business entity such as Qualstar to avoid such material adverse consequences. For that reason, BKF has publicly announced that it is seeking to arrange an acquisition of a viable operating business having at least three years of operating history.
"The Company holds the shares of Qualstar for investment purposes and is currently considering its options. The Company is in the process of transferring its holdings of Qualstar shares into its wholly owned subsidiary BKF Asset Holdings, Inc."
Very interesting developments continue. Mr. Bronson is clearly a man on a mission and finally succeeding with his takeover of QBAK, curious what his next move will be. He has been very active with numerous companies since 2008. I know he had mentioned selling off the tape libraries part of the business and giving proceeds to shareholders, but does he have bigger plans?
At moment, a bunch of cash (~$6,000,000), sizable investment (~$3,000,000) in QBAK which they control, not alot in the way of liabilities. Does he view BKFG as solely an investment vehicle or more as a holding company? Not quite sure, but the coming months could make things alot clearer IMO.
Looking very good now, nice strong bid support, ask has gotten very thin. Definetly appears investor interest is rising here by the day. Come on $5 :)
bid creeping there is nice...getting some stronger bid support now and ask is thinning.
Yes sorry meant under the 5% which would mean he would have had to get rid of around 140,000 shares. Certainly could be that on the seller side, and the last number from the 10K filing is based on a Gottlieb's filing from January 2011 so it's possible he's been selling for a while to get there. Possible he is liquidating his position meaning if we are patient there may be another 160,000 that will hit this stock at some point. Definetly some ask pressure in the last week and a half.
Interesting filing from Gottlieb today. Maybe I'm missing something, but he did have 9.1% of the shares, but now is out. Something going on behind the scenes to get a hold of these shares, consolidate them?
I've been following this company for while, it's a database for outdoor advertising.
http://adstruc.com
As a person who works in the space, I always thought the ability to find placement online and outdoor through a simple online interface would be amazing. Combining digital outdoor with online and then video content would be, if they went in that direction it would be a game changer for what I do.
I assume they are not that far ahead yet, but love to dream and think about someone who puts it all together in the space.
Hey, do you know of any good resource on finding old stock prices, pre reverse-merger (i.e. Endeavour Acquisition Corp. with AAP)? I always wish they would show the price history on a ticker prior to reverse merger as well. Would seem logical, but haven't yet seen anywhere that does it.
Yeah, we will see. That's the game he's known for playing...come on next American Apparel...:)
These extra details are nice :) What I am seeing means less of a need for infusing with capital at equity's expense. Part of me thinks the SPAC owners will want to retain that greater than 50% ownership and therefore not issue too many additional shares. This was great to see;
Regular says Ledecky and Ironbound will be backing them up with more working capital when they are ready to buy their next company.
“I know reverse mergers do not have the best reputation these days with all the problems with the China companies but this is a real company with real growth and value,” Regular said.
Looks like there may be a little dumping going on here :) If the price is right, could be some nice pick-ups coming.
Best volume in a long time :) Getting some attention, $.50 looks like a pretty solid base, I don't see why $6 is out of the question. Just depends on what's happening on back-end right now. Alot of forward looking events. I expect will see Kitara's revenue numbers soon, and possible they are already lining up acquisition targets.
Yup, definetly with you there, that's my hope. We've both been patient enough :) All it takes is one success story for it to start a movement.
Time for SPAC comeback?
"Only three SPAC deals have been done this year according to this research. So it’s going to be interesting to see if hedgies are going to start make an investing comeback with them."
Attention starting to come in :) Nice read, thanks for sharing...like this in the comments section, can always dream.
Maybe Ledecky can get Google to buy his new SPAC?