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I look forward to the conference call tomorrow (Tuesday) at 4:30 EDT.
It should be very interesting and very important given the present state of things with Sigma and with the global economy.
I hope there will be good participation on the call by Sigma shareholders. Among the questions I hope are addressed are the following:
1. In the letter to shareholders on August 15, 2019, John Rice stated
“...commercial orders are now on the horizon for Q3 2019 with a clear line of sight to breakeven point by early 2020.”
What is the company’s present expectation now that we are at the end of Q1 2020?
2. How many RTEs were there? How many are still in phase 2 ?
How many expired without resulting in ongoing business for Sigma?
3. Is PR3D imbedded in the MCP Control System or simply offered as an option to Materialise’s customers?
I intend to be on the call, but each caller may well be limited as to the number of questions. I hope others will step up with these and other questions.
Best wishes to all during these difficult times. Stay well and stay safe.
I agree. Sigma’s timing turns out to be fortuitous.
As a Dukie, I congratulate you on your astuteness in changing your vote.
But, I would be remiss if I didn’t close with GTHCGTH !
Yes, I had an email which forwarded the proxy and enabled me to vote online.
If you did not receive an email, I think you will soon receive the proxy materials by mail.
I have voted “yes” on both proposals. We need to get airborne.
For what it is worth, I agree with Ted and will be voting “yes.”
I think you either support the company’s management or get out and look for some other investment with which you are more comfortable. If you continue to hold stock in Sigma, it does not make sense to tie management’s hands.
I think you misunderstand the deal with Materialize. PR3D is to be integrated with Materialize’s software and sold jointly. It is not a question of purchasing a set number of units.
The increase in authorized shares would make them available for merger or acquisition purposes or for investment by a OEM or other major partner.
This could be of major benefit to Sigma and its shareholders. Obviously, all this is unknown and uncertain today. But, if you are betting on Sigma and it’s future, it seems to me you should follow through by giving them every chance to execute and enhance value.
Granted, there have been many disappointments and questionable decisions in the past. But, if you are not inclined to follow the path and support management, you should probably sell your stake and move on.
I haven’t cast my vote yet, but I am inclined to hold on to my shares, support management and hope they use the shares to great advantage.
Maybe you should then retract your crass and denigrating posts about John Rice and Mark Ruport.
Did Ameritrade post the earnings report for Sigma?
What’s driving the price and the volume today? Volume is already about 4% of the outstanding shares
Surprisingly low volume today.
Thought that both more would want out and more would want in
Yes, you are correct. But this is not yet reflected by some of the online quotes. It will be adjusted.
Charlie, divide the number of warrants you had yesterday by 10.
Multiple the $4.00 strike price by 10.
If you had 1,000 warrants yesterday, you now have 100. And the strike price to convert to 1 share of common prior to expiration in February 2022 is now $40.00.
Thank you
Have the warrants been repriced yet?
There have apparently been a couple small transactions today at 0.50 and 0.52.
Schwab has not yet adjusted bid and asked for SGLBW.
Seems to me the bid and asked should be 10 times what is shown in order to reflect the reverse split.
I would think they would have greater control with posted questions than they would with the uncertainty of what someone may say on a phone question.
Written questions are generally easier for anyone taking questions
Maybe we will gain further insight at the webinar Wednesday when Mark presents his overview at the LD Micro Virtual Investor Conference.
The temporary (?) reduction in the number of outstanding shares may present one positive situation.
If Sigma does in fact realize some significant sales, it is not out of the question that they could,not only break even, but actually turn a profit of $1-2 M for the fiscal year.
With only a 1.4 M shares outstanding, it is then conceivable the earnings per share could be $1.00 +.
Earnings of $1.00 or more per share would be much more impressive than 0.10 pre split and could well attract the attention of institutional investors and result in a multiple of at least 30-40 times earnings which would then translate to a price per share of $30-40 or more. In fact, with such a breakout in an emerging market, the PE multiple could for a time be priced much higher.
This is dependent of course on 2 big “ifs” - (1) generating sales to turn a profit and (2) keeping the outstanding shares at 1.4 M. If the number of shares increase significantly causing the earnings per share to be a correspondingly smaller number, the PE ratio is apt to be less dramatic.
The most alarming thing to me about this most recent reverse split is that management had ample time, as others have pointed out, to comply with listing requirements.
The fact that Ruport, Rice and the board chose to effect a reverse split now seemingly indicates that no significant sales, or other events that might raise the pps, are imminent.
All this despite Rice’s expectation last fall that sales would soon materialize from the RTE and that there was a clear path to break even early in 2020.
I expect there may be a letter to shareholders prior to the proposed vote on March 27 to increase the number of authorized shares.
If management does reach out to their shareholders prior to March 27, I hope they will issue an update on (a) the “path to break even,” (b)
the current status of all the RTE that were entered into, and (c) the status of discussions/negotiations with Materialize. There are obviously other questions, but I think these 3 are paramount and that it is incumbent on Ruport and Rice to provide an updated status report.
The 3 reverse splits now result in 1-2000.
10,000 shares of Sigma common held prior to March 17, 2016 are now converted to 5 shares.
If the average price of Sigma common acquired prior to March 17, 2016 was 10 cents a share ($0.10), the common would now have to rise to $200 per share for a holder of those shares to break even.
Brutal !
I’m sorry, Charlie, but I think you have it backwards.
The price per share of common tomorrow after the 1-10 split will be around $6.00.
If you could exercise your warrants at .40 and receive a share of common worth $6.00, that would give you an immediate profit of $5.60 on each warrant.
That could be nice, but it doesn’t work that way.
You’ll have an exercise price of $40.00 in 2022 and one tenth of the number of warrants you previously had.
Outlook, I think your perspective makes sense. Hope you prove correct.
Imperial Capital is an important conference for investors. Sigma may find it beneficial to provide even more guidance than they did on the webinar. We’ll see.
Sigma said they were one of three gold sponsors at the Military AM Summit in Tampa on Wednesday and Thursday this week.
A future share price of $20 with the present 22.5 M shares means a market cap of $450 M.
A future share price of $20 with 125 M authorized shares would require a market cap of $2.5 billion.
I don’t see how you can even envision a pps of $10 in the next 10-15 months if there are 125 M shares authorized. That would require a market cap of $1.25 billion. And, as I pointed out in my previous message, that would effectively devalue each of your present shares to about $2.00.
If, as you say, Sigma’s shares are $7 to $10 in the next 10-15 months and the authorized shares are increased as presently proposed in the S-3, the value of your present holdings will be reduced by more than 80% which effectively gives each of your present shares a future value in the range of $1.50 to $2.00. Even at a future $20 pps each of your present shares would effectively have a value of about $4.00.
There are certainly a lot of unanswered questions, but your present scenario makes some sense.
It is just unfathomable to think that John Rice and the board would devise and actually execute a plan that would effectively result in dilution of more than 80% for existing shareholders and any others that might invest in Sigma in the coming days (prior to actual increase in the number of authorized shares).
And, to take such unconscionable action for the sake of the $2.1 M they raised in the Purchase Agreement of January 27. How can you “sell out” your present shareholders for such a minimal return.
There are so many things that don’t initially seem to add up. As Silver stared earlier, how would Sigma management expect to have an option to raise the 120 M shares by a reverse split when there are presently only 22.5 M shares authorized. And, does management actually think they can obtain a favorable vote from present shareholders to increase the authorized shares from 22.5 M to 121 M when it devalues the present shareholders by more than 80%.
Hopefully tomorrow’s webinar will help shed light.
So, are you willing to accept the issuance of more than 120 million shares which would then result in dilution of more than 80% in your present holdings ?
Yes, Sigma was prominently mentioned. Very good exposure in a well respected publication in the investment community.
Charlie, shelf the takeover hope. Sigma’s future is as an independent provider of quality assurance for AM
As Outlook and others have opined, a buyout is not the goal. A merger, while not necessary, is more apt.
If you are anxious to cash in, you can always sell your shares when the price increases significantly, as many of us think it will. You don’t need to hope for a buyout. The potential will be much greater if you simply wait for the share price to reflect Sigma’s increasing value.
Thank you, Silver. Your input is greatly appreciated.
If I recall correctly, a couple years ago you projected Sigma’s market cap to be in the 250-300 M range.
Where do you now see the market cap being in 2 years? Five years?
And, thanks again for all your insightful contributions to the dialogue on this board.
When (what year) to you project Sigma will reach $100?
You told this board on more than one occasion you were out of this stock. So, why do you care and why do you continue to post this drivel?
Well then - goodbye. Better luck with your next venture.
You told this board you dumped all your SGLB a couple weeks ago. Which is it? Your credibility is really in question
NNW has been engaged by Sigma’s PR firm to enhance awareness in the company. They are simply doing their job. I appreciate what they are doing. Don’t know why you have such a negative fixation on NNW when you presumably are no longer a stockholder in Sigma. Move on !