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Nope I don't and that's exactly the point. It's the, "Hey interested partners wanting to buy us out, if you think you are going to buy me for less than $120M I got a Preferred Share surprise for you."
Either you are right or I am right. But if I am wrong, some people are going to jail.
OT - Lowfloat
So you are basically an Adam Sandler type goat, huh? I'll try not to wiz any footballs your way and chip any horns...
No, it doesn't matter about the "divest of everything part." You can be a criminal and own a bank in the USA. The mob does it all the time. And I only assume that offshore banks are cheaper never having been in a position to personally buy a bank. Maybe Monday though after lunch...
Anguila...supposedily.
I make one dangerous assumption. That the Preferred 3's will never be exercised and never will pay a dividend to the holders. SO I back them out of the equation and that leaves us with some $10M in Preferred Debt. That puts our P/B ratio at about .45. That's ridiculous.
And probably more expensive.
Boooo...back to pasture with you and your bad jokes. I'm the only washed up comedian around here.
It's evil short people who are not buying.
I have to disagree with you on that WarEagle. I've said it like 3 times, its all about eps, which I admit is difficult to compute without NI given. But assuming that all of their EBITDA is not eaten up in taxes (I believe their taxes are under than 30% effectively), their eps is growing faster than their O/S is on a percentage basis.
Provide verifiable proof of your statement please.
"remember also new contract coming soon"
I never saw that 60M restricted in the pinksheets release that I can remember. I just get that number when I speak to the TA.
But as OldTeck pointed out with Rock Concrete, I am slipping a bit. Way too much info from PBLS and my real world job cluttering my brain lately...
That's a question for a banker. I'm too young to remember a time when banks were defaulting.
I know my wonderful, lovingly loyal bank loves to slap a nice long 10 day hold on any check like that I deposit, even if I have more than that on deposit with them.
I believe that the FDIC insures single accounts up to either $100k or $250k. You might want to check into opening several accounts if your MMA has more than that in it.
No...they have a long history of using restricted shares for acquisitions. Then, they PR'd the increase in the A/S a while ago to be able to use Preferred Shares for acquisitions. Since then, that is what they have done. They used a convertible preferred, similar to the preferred 3's for the condo deal, if I remember correctly.
Yep, they do it all the time. They make use try to read between the lines and the Ron will blast message board posters for their endless speculating while he talks and talks and talks about everything and anything to whatever message board poster calls him...go figure.
Wait a minute, stop the presses...you believe what a company promises? "plus the company has promised no dilution during the storm season"
You drinking early today or something? ;)
Because we focus primarily on the pps and rightfully so for the most part.
Some positive. But traditionally, there is a bigger negative correlation between the stock market and the bond market (like gold and the stock market) that typically overwhelms that in the short term.
But you know Lake, everything is so backwards right now, who knows. I just know that I lost half of Chevy Chase's loan products today (Stated Income, No Ratio, Alt-A loans). Now they just have what everyone else has...great rates on full doc loans...
Wow, where have I been?
You know, I was so focused on the coal/limestone, KOMEX, O'Riley stuff that it completely slipped by me.
I thought we were all still just speculating, but with Southern Crushing and Rock Concrete, this definitely takes it away from the realm of speculation. We are in the concrete biz.
I don't think the restricted share information is updated with the TA. Court docs put the number much, much higher than the 60M restricted the TA will tell you they have.
Boooo!
Just trying to help you help others connect the dots...you know, get folks to think a little bit more about some of the positive developments as opposed to just all the griping...
Common misconception. Mortgage rates have a much higher correlation the price of mortgage backed bonds than they do to the Fed Funds rate. If the bond prices go up, mortgage rates go down. Problem is that the Fed lowering the rate helps the stock market more than the bond market in the short term.
We do sit at the top of the Org Chart.
Supposedly.
Oldteck...
Sorry for the silly question but what leads you to believe that cement is a PBLS product?
Ren
The Fed funds rate doesn't help lenders. It's not a matter of rates its a matter of demand for mortgage backed securities. If no one buys their bonds, they become insolvent.
Rates are still historically low. No, this rate cut wasn't to help the home buyers or lenders. It was to help the Jim Cramer's of the world not lose so much in the big board correction that is needed IMO.
Asus, Lake, Mthead...you guys see my post #50294 on the PBLS board. I'm not wanting it to be a pump or bash board. I only mod because I don't want to see people get taken advantage of, believe it or not.
As for PBLS, I probably qualify as a bag holder, but I haven't given up on it yet. Thankfully, I have made a few smart trades to work my way close to even so I don't have the exposure that some do. Best thing is that if it ever does pop, and I think they will run it at some point, most of my "core shares" are in that 15% cap gains category. I will definitely be selling into any run...just like I did in SPZI.
As to SPZI, the chart seems so indecisive. I haven't bought back in for the next run but have some money in my account to do so. Doesn't lagging volume speak to a pull back in the pps? Seems like the momo is gone for right now...
Ren
Problem with mining lime in Florida is that it is very easy to impact our water supply I think. After all, our entire water supply comes from a giant limestone sponse we call an aquifer...
I don't really know though except that as I watched some of the limestone quarries in Central Florida dig deeper, a lot of local lakes went dry...of course, population growth will do that too. Orlando is currently trying to divert some of the water sources for the St. John's river right now, much in the same way S. FL diverted the Kissimmee decades ago. I'm not very excited about it.
Ren
Agree. I don't like the Fed's move today. There's only one way to heal 10 years of bad financing decisions...you just have to let it correct itself. But again, I'm a "the government that governs best, governs least" kind of guy...
Note to the Board...
I have been just as guilty for doing it as anyone else, probably more so. From this point forward I would appreciate it if...
If you have something that is good to say, bring evidence, not a rumor, provide a link, put your info where your mouth is. If you can't post it because "you're not suppsoed to say who told you so" then I say that you are manipulating the board and probably doing something illegal. I won't have you taking advantage of my friends here so either stop, or go away. Don't post it if you can't verify it....rumor, PR coming, this family is involved etc etc. No offense if you are new and don't understand our position, but most of us have heard it all before, for years. We've watched one new alias after another come on board and claim "special relationship with inside information." We just don't believe you unless you can verify it.
Besides, you that are bringing "good news" are actually working against the company. Don't steal away from any potential good impact a solid, verifiable PR can do.
If you having something bad to say, and we've all heard you say it before, please don't post it. We heard you the first time. We realize the problems. We see the delays. We understand the lack of transparency and all the issues. We see the increase in the O/S. If you post something you have said a lot before, it probably will be deleted as spam because that's what it is.
Personal attacks on other posters and specific people at the company are TOU in my opinion. Attack what is said or done. Don't attack the person, even as much as you or I might want to. If it's a personal attack, it will be deleted. Don't agree with me? Get me removed as Mod.
This isn't a "pump board." This also isn't a place where you have free license to bash for the sake of "airing opinions." This board is supposed to be a place where people exchange information and opinions tied to information. Do you want to add value to this board? Shut up and spend some time getting some real information that you can share.
Otherwise, don't post here. Good or bad.
Responses to this post will be deleted as OT-. Send me a PM. Let's move on...
Ren
No time scale because it's India. They might say 2 years but they know it would take 20. They're trying to avoid "soon" statements...;)
Just got back in town and to a computer...lot's of deletions I see. I'm gone for basically a day and the kids wreck the house or something?
Anyway, the 50M shares were there one day but not the day before. I don't know how the TA updates the O/S but I assume that it's daily. If that is the case, there is no way they dumped them on the open market as we didn't see enough volume.
Besides, I stand by one of the last posts I worte. If they have increased the O/S 3x but have seen EBITDA up 7x, that is a good exchange in my opinion.
Florida is off 41% year over year right now. It, along with California saw the most investor "pump." I'm watching prices at the beach in N. FL start to level off from the decline, but SW FL was/is particularly bad...
BTW Interest Only loans aren't crazy IMO. Either are Option ARMs, or ARMs. What's crazy is using them to buy a house you can't really afford. What's crazy is the abuse of those loans to make un-wise financial decisions. Because of the way my income works, an Interest Only loan makes more sense than an amortizing one. I get large chunks of cash in commissions maybe 4-6 times a year. When it comes, I try to knock 10-20% off the balance of my house. If you do the math, I come out ahead each year in paying my house down.
Sorry mods that I just talk about Real Estate, it's the only value I feel I can bring to the board. After my call will CFC, it's obvious I don't know much about stock picking. I wish I could put up "good picks" but I'm mostly here to learn. But I seem to be doing just fine in RE...lots of "value buys" out there right now...
Ren
One of the things I like that Robert Kiyosaki says is "Work to learn, don't work to earn." Never was a truer statement when it came to producing wealth and not income.
Whirl,
You should try to do what I do...act like you know what you are talking about...;)
Thanks for taking the time Shiz and the same to Fmi.
That's why I don't think the Pinksheets tiered system will work that well in helping a pink sheet stock become properly valued. Everyone sees the attorney sign off and say "these numbers are legit." No one cares.
And the key there is the word "broker." Typical fees for me is between 10-15% on raw land. Usually 10% for small parcels and higher for larger ones that are more difficult to place a buyer in...
Either way, this was only a $1.5 to $2M deal. ;)
Its not fair, but it is truth.
The market demands audited financials...absolutely true. PBLS needs to produce.
The market has no idea how dangerous and easy it is to manipulate GAAP...absolutely true. Sadly, most people just buy what their friends/family/broker tell them to buy without question/without thinking/without really knowing. Watch all the sheep run off the cliff in the big markets as proof of my point...good companies with good earning that are undervalued will see a decline in the pps as the entire market/sector moves down.
Most are scared to make their own decisions. Most think "financial education" requires an MBA. I like the Good Will Hunting approach...go get a library card and learn how to study.
Anyway, I agree with you irish on the need for AF's. But you see my point I hope.
At least they didn't gap us up on the open...