Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Good solid progress.
It's good to know that Lee is more interested in getting new business than in issuing PRs.
ORCA: why would you say that the CEO, the company's largest shareholder, has no interest in the share price? It is precisely because of his wish and need to increase that price that I have faith in his sincere efforts to grow his company's profits.
My hope is that Lee finally understands not to keep over-promising and under- delivering, and will in future issue PRs only when something concrete has actually happened. I'm still optimistic for the medium to long term.
The most optimistic view is that Ecobank has already issued the LC, and Lee went to New York to complete the deal.
He might be carrying an elephant gun.
It seems from Marty's email that we can expect some news next week.
The way I see it:
1. Lee is totally focused on getting the big contract. When he does he will have the cash to:
2. Hire a kick-ass CEO to take care of all the things he can't be bothered with.
I have always found Marty to be prompt, polite and professional.
Where's that info from?
There seems to be some support at this level. It isn't great but maybe it isn't the end of the world.
We're all just waiting for news, on Niger truck contract, other African business, removal of the yield sign. Not much SP progress can be expected meanwhile.
Ref share buyback: as at end 2014 the company had $163,000 in cash on their balance sheet, meager enough for their day to day business, certainly too little for a significant share buyback program.
Quote from CFO at the CC of August 19. 2015:
"We have provided our Securiities Attorney with financials for 2013,2014 and the first six months of 2015. Additionally, all questionnaires have been completed along with Director bios and submitted to the attorney. They will review and request any additional clarification, then prepare the documents to the OTC marketplace for review and removal of the yield sign."
Going well I'd say.
ORCA: you are right to wait it out, it was an excellent CC: good news from several African countries, core business steady, solid progress on removing the yield sign, evidence that the new CFO is doing a good job. What's not to like?
Yes I knew it was theirs not yours.
GT: nice Freudian slip in the PR you quote:
...these projects.....are in final negations...
GT: for me, a turning point was the LC for $500k from Mali for housing-project construction equipment that was shipped out at the end of July- a piece of real, solid business in Africa that could lead to more.
All good news on the CC. I feel VERY encouraged. Congo, Niger, Nigeria, Mali, Senegal...Lee is putting in a great effort. Be patient!
Seems they have revised declared 1Q net profit down by about $50k, but no explanation.
Lee is an honest and energetic man who is aiming very high. If the biggest deal doesn't come off (and it may still) it will in fact be due to circumstances beyond his control. There's no need for conspiracy theories here.
Born, ref military contract I believe the last reference was in the PR of April 22, 2015:
"The potential order pipeline in Africa is approximately $415 million and consists of the Niger trucking deal, a Niger Military project and a solar project in Senegal. ECOBank is in discussions with the World Bank regarding the funding of the Niger Military project. The government of Senegal has funds in place to move forward. Decisions pertaining to the military equipment project are six to 12 months away and decisions pertaining to the solar project are 12 to 18 months away."
Born, for those not familiar, here is a link to the IMF report of April 2015 on Sub-Saharan Africa. It's a long, dense document but gives powerful evidence for the enormous economic opportunities to be had in the region in the coming decades. AMMX has a great chance to be in on the ground floor, and so do we.
https://www.imf.org/external/pubs/ft/reo/2015/afr/eng/pdf/sreo0415.pdf
Born: I don't have PM either. I agree, no point in worrying about things over which we have no control.
Born, I don't share your worries about the economy. Though obviously there are plenty of problems and risks around, the collapse of the U.S. dollar in the manner predicted by Stansberry is not on the cards, and he is not a reliable commentator.
To focus only on AMMX, I am very deeply committed myself. I have met Lee and visited his Chico facility. Everything about him and his company rings true, and there is a slow but steady build up of African business that will pay off handsomely in due course.
Of course this is only my opinion, and everyone has to make his/her own mind up.
For what it's worth, I doubt that today's activity in AMMX shares was prompted by the company's good or bad IR.
orca: so you are not actually a major shareholder?
Born: am I right in thinking that this is their first confirmed shipment to Africa? If so it is the best news for years.
orca: YOU CHANGE YOUR MIND ON A DAILY BASIS. Is that appropriate for someone who is a moderator on this board?
Biglued: Please keep going with the details of your conversation with Lee. It's valuable information for all of us, and much appreciated.
Sorry I mean biglued.
GT: looking forward to your update.
Born: I wouldn't worry about that, it would just mean that some shares were transferred from someone who didn't believe in the company to someone who did.
At this share price AMMX is a conservative investment: P/E ratio of about 10 despite average net profit growth of 74% per annum since 2011. Downside risk: negligible (ignoring short-term fluctuations). Upside potential: thrilling, which is why I am heavily invested in this company.
Thanks MM. He has been running a small family business for 30+ years. I believe that the company is about to expand a lot, and when it does I expect that he will start to devote time and money to investor relations, audited accounts, and other trappings of big companies. Until then I most value his services as an entrepreneur and traveling salesman.
I assume that Lee is the majority shareholder. As such his sole purpose is to build up the company's business and long- term profits. Short-term fluctuations in share price are unimportant.
Born: you are quite right, all is looking very good. We needn't worry about today's low-price sales - people have their own reasons for having to sell cheap.
Some are looking for silver. I am looking for paper.
I have a ton of cash in AMMX, but not for long: by the end of the year it will have grown to ten tons.
Why is AMMX a great investment?
AMMX P/E ratio: 13
S and P 500 P/E ratio: 20
AMMX annual net profit growth since 2011: 60% plus
S and P annual return since 2011: 20%
So AMMX is heavily undervalued by the market based on current business only. Once the yield sign is removed and the first Niger payment is received, expect a rapid increase in SP, to at least ten times today's level.