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I imagine they may. It's a complex process to go through to get everything in line in order to make the filing, especially when there's probably not a well-defined process in place to get it done.
They waited until the last minute because they have 15 days from the filing date of the NT to file the 10-K. If they hadn't waited until today, the 15-day clock would have started earlier.
As I suspected, from the NT:
PART III – NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 20-F, 11-K, 10-Q, N-SAR, or the transition report or portion thereof could not be file within the prescribed period.
The Company was unable to compile the necessary financial information required to prepare a complete filing. Thus, the Company would be unable to file the periodic report in a timely manner without unreasonable effort or expense. The Company expects to file within the extension period.
I'm disappointed that they need an extension but not surprised. With seven subsidiaries, it's quite an exercise to get them consolidated, especially for a company of their size. Hopefully next year's 10-K will be on time if they concentrate more thoroughly on the process of getting it done. I feel as though the delays are solely logistical, and while missing the filing due date is disappointing, it is somewhat understandable, considering the activity they have had in the past year.
I also expect an acquisition, and if the smart tank trial goes well and the Fortune 500 company commits to a number of units, the revenue from that agreement should be very substantial.
If the company can do those things, there is no question that the share price would take care of itself.
It could - I hope you're right. I have no knowledge of the magnitude of their prospective contracts.
I think $30 to $40 million over the forecast would be difficult to achieve without an acquisition - I'd be happy with $70 to $80 million.
I totally agree with you.
That's kind of what I expected. I can just imagine how it is over there right now, as I know for the $700 million company for which I work and am the final reviewer of the financial statements for the 10-K and 10-Q filings, filing day is somewhat nerve-wracking even for us, and we have the process down cold. I empathize with them, and am sure they are working feverishly to get it done.
Hi Moneyman,
This process is no different than last year. They were fully audited last year as per the opinion in last year's 10-K. If they can't make the filing on a timely basis, as they did not last year when they filed on April 15, it likely means they are not well enough organized in an accounting sense to be able to do so, as I suggested in my post last night. This is not uncommon for a company of this size, especially one with many subsidiaries, but it is an issue that needs to be addressed as they go forward if they don't make a timely filing today. The CFO seems as though he is experienced, and he needs to elevate the timeliness of filings on his priority list if the filing is not made today.
The 10-K is due today, and they must file a form for an extension if they do not file it by the close of business with the SEC.
Let us pray.
Peter,
I totally agree with you. If a company needs an extension, it can be for a number of reasons. The company's auditor, although a regional firm, is highly competent, and the only reason I could see for a delay would be that the company has a number of subsidiaries that must be consolidated, and the failure of any one of them to submit their results on a timely basis can prevent that from happening and the financial statements being available for the auditor in time to get the audit completed. This can happen much more easily than might be thought, as there is often reliance on outside consultants to compile the statements in the absence of in-house accountants, and the competence of those firms can vary greatly. I am hopeful that they have devoted the appropriate level of attention to the process and that we will get a filing tomorrow.
I think it's important to the company's credibility that they file the 10-K tomorrow on a timely basis. If they don't, I would consider it to be a disappointment.
If anyone thinks that this company's technology is only worth $2.32 per share ($8.35 closing price less the $6.03 of cash on the books), they must be smoking dope. I'll be buying more at this level tomorrow morning.
I'm in at $8.84, paying $2.81 above the cash per share on the books for the company's incredibly advanced technology. That is absolute highway robbery, of which I am happy to be guilty.
It's beginning to feel again like it's now generating the kind of interest that it got when it ran up to $2.00.
I haven't gotten into crypto at all. I don't mind investing in things I don't fully understand, but I don't even understand the value proposition of crypto. I do understand the value proposition of NNDM, which I will be buying tomorrow morning. Listening to their Q4 conference call was extremely exciting for me today. It's not for everyone, but for those who can see the future, the value is absolutely there.
I'll have to take a look at that. It's hard to believe there is a company with a more advanced technology than this one (not that I'm any expert), but that would definitely be intriguing if AONE seems similar. I also really like DM.
She's accumulating because at this level a buyer is paying $2.73 above the cash on the books per share for the company's massive store of technology which is going to revolutionize manufacturing in a number of industries. I will be happy to pay that price tomorrow morning for a substantial number of shares.
I'm hoping so - that's why I bought in at $23.79 - the price just intuitively seemed too low.
Nice work! It seems as though it could become a realistic scenario. It's as reasonable and plausible a forecast as any I've seen put forward.
Please read the company's press release that was issued this morning. If one believes in its management and its ability to execute the plan set forth there, then one buys or holds, as I am. If one does not, as you apparently do not, then one does not buy or sells. Our disparity in viewpoints and actions is what makes the stock market function.
If this EVER goes down to $.10 I will have a fair amount of money waiting for it. The market cap would then be less than one-third of 2020 revenues, and it would be absolutely insane not to sell every other holding I have to buy more of it.
If we hit $90M in revenue instead of the forecasted $60.5M, it will easily surpass $2.
Let's hope that's a good sign!
Crawfors is a moderator on the company's Ambassadors site - maybe he could suggest it to them.
I like the strategy - even if it were only $.001 per share it would theoretically force everyone to account for all the shares that are out there and only cost the company $129K.
Your last sentence is just asinine based on any publicly-available information.
It needs to be filed by March 31 if it is to be filed timely.
To all of those who are thinking of selling: Assuming the outstanding shares are 129 million, at the current $.77 share price, the company's market cap is $99.3 million. That makes the forward market cap/sales ratio 1.64 based on the forecasted very achievable 2021 revenues of $60.5 million. If you can find another rapidly-growing company that is soon to be profitable anywhere on any exchange with a lower ratio, please tell me, and we should both sell our holdings here and put it into that company. Otherwise, our capital is best invested here.
I'll take the over.
They have until March 31 to file. The $700 million company for which I work always files on the day prior to the due date. If they miss filing the 10-K on or before its due date, that will be a serious problem. I believe they know that.
I'm truly sorry you're leaving. As Harrison Ford said to his tormentors as John Book in Witness, "You're making a mistake."
As one of my old bosses used to say, let's think about this. At Wallet Investor's forecasted price of $389.93 in five years with 129 million shares outstanding, the company would be worth $50.3 billion. Anyone who thinks this company is EVER going to be worth $50.3 billion must be smoking dope.
Considering that it's not yet profitable but may turn the corner doing the $60.5 million revenue forecasted in 2021 with hopefully increasing margins, ascribing an enterprise value of three times revenue, just to pick a not unreasonable number, would give it a share price of slightly over $1.40.
Then the investor has to make a decision about growth rates, discounted future income streams related to forecasted revenue from the various lines of business, etc. to arrive at what he/she believes to be a share price reflective of the enterprise value. If it's above the then current share price, he/she buys. If it's below that, he/she sells.
This isn't an OTC company - it trades on the OTC. It doesn't care about the OTC games. It just cares about developing its business, and has a visionary CEO who knows how to do that. This is not and never has been a pink sheet play - if it were I wouldn't have invested in it. My time frame is three to five years, and I am confident that it will not be trading anywhere near this low level at that point. I may be getting old, but either I or my kids can wait for the company to develop the business and significantly increase the value of my holdings.
Are you some kind of idiot?
I'm sure he's pretty happy with that decision - I'm asserting that it would be a bad decision to short it at this level.
If he's stupid enough to short this stock he certainly will end up at the low point on his curve.