says, "Companies that trade on the OTCBB will require Cash/Cheque. "
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Never mind, the 29th was a Sunday, 10KSB due tomorrow.
Sheesh!
The 10K is due tomorrow
Not long to wait for the info.
Regards
Since the question always comes up around earnings
Deadlines:
They have until tomorrow at 5:30PM EDT to file the 10QSB (45 days after the end of 2Q).
They have until Wednesday at 5:30PM EDT to file an NT-10Q, if they don't make Tuesday's deadline for the 10QSB.
If they file the NT-10Q, that gives them 5 additional calendar days past the original due date. The 10QSB would then be due next Monday, August 20, at 5:30PM EDT.
Anyone quibble with that?
Regards
Good reason to remove China
from the corporate name. China just can't catch a break in the media, from tainted pet food to lead painted toys.
Latest China revelation:
http://news.yahoo.com/s/ap/20070813/ap_on_re_as/china_slavery;_ylt=Ain3BKc7XyX0gUxRbglMigubOrgF
Regards
Hey Lucy!
If you won't hazard a guess at 2nd quarter revenue, why should Salve.
Only DD and myself have stepped up.
I don't care if I get made a fool, and I don't think DD does either.
But, I respect DD putting it on the line (including posting his bids and order fills).
Tuesday is coming. I sure hope they don't 12b25 us. That's so 2006.
Regards
Interesting post from almost 1 year ago
http://investorshub.advfn.com/boards/read_msg.asp?message_id=12601751
Eagle's Florida facility, which is located on over 50 acres of land, will be the largest tile manufacturing plant in the world, according to Burlingame. The first plant structure scheduled to open in the fourth quarter of 2006 will measure 228,000 square feet and employ at least 200 people. The facility will feature four production lines capable of producing 160,000 squares of tile a month; enough to cover 60,000 homes per annum. "At the moment, Florida customers are waiting up to 10 months for their roof tile to be supplied," said Burlingame. "Eagle's goal is to relieve the backlog in the home building industry by supplying concrete tile roofing in a timely manner." Soon after the first Eagle plant opens in Florida, the company projects that the lead time will be reduced to no more than 30 days. "The average lead time will drop even further to two weeks by mid 2007," Burlingame said. He credits the cooperation of the city, county and other local construction officials in helping to accelerate the building process to get this manufacturing plant up and running quickly.
If they are indeed down to two weeks lead time, why would you pay for tiles to be shipped from China?
Buy USA!
No revenue guess Lucy?
I say losses will be greater in 2Q over 1Q; they've loaded up their executive office in anticipation of the STP growth.
Those guys don't work for free.
Losses will be higher, my guess.
Regards
So, let's get people on record
about what goes down next Tuesday.
I say revenue will come in around $300K, I think DD is on record predicting a little above $400K (100% rise from 1Q).
How about Lucy and RVD and Salve? .... Bueller?
I base my guess on flat booklight sales from 1Q, with fewer returns, no appreciable OBS tile sales or Simply Comfort/Sound Body sales.
Regards
The are an international company
I can't see why they wouldn't sell a quality foreign made product here in the US, if it made sense from a profit/loss view.
Certainly, it's what they propose to do with the Capstone/STP tool line.
Regards
"With 7,600 employees worldwide, the company manufactures products in more than two dozen countries and markets them in more than 100 countries."
That's a line speaking about Clorox. I imagine some of the products that they sell in the US are manufactured overseas.
Otherwise, why would they do a deal with CHDT, who intends to source their new product line in China?
Regards
FACT! It will be published for opposition on August 28, 2007
according to TARRs.
My guess, as has been discussed previously, is that simplycomfortrv.com, who sells a pillow under the trademark, Simply Comfort will object to Capstone's application.
My guess, since Howard says they won't be using "Simply Comfort" is that they will let it go at that, and the application will be abandoned at that point.
FACT! CHDT won't be using "Simply Comfort" trademark
Howard Ullman said so during the CC. The transcript has been excerpted on this board and is available on the SEC site.
The trademark process marches on
CHDT won't be using "Simply Comfort", however.
It will be published for opposition, simplycomfortrv.com will object, and CHDT won't oppose the objection, my guess. At that point, it will be abandoned from a USPTO point of view.
End of story. In the mean time, CHDT has a ready made excuse why 2nd quarter will show -0- Comfort product revenue.
Oh, by the way, unless CHDT can overcome the "Non-final action" on "Sound Body", they won't be selling any Comfort products under that mark either.
Sell the damn things under Capstone!
Howard said it was dead
"The Simply Comfort trademark was abandoned by our marketing team for a more appropriate trademark now called SOUND BODY. "
Gotta believe in the COB, right?
Here's what Howard said
according to the transcript filed with the SEC:
5.
Howard, what is the status of the Simply Comfort line of products from Capstone?
A: The Simply Comfort trademark was abandoned by our marketing team for a more appropriate trademark now called SOUND BODY. Introductions to retailers have begun, but it would be in appropriate to discuss buying decisions or retail placement at this time.
And here's a link to what was actually said:
http://bsd09.livedepot.net/SBSnO315994/3U9YKJ1/wYBlKbNBQdap0jzrVzKupDo7wd37
Oddly enough, the Simply Comfort trademark application HAS NOT been abandoned. As DD has noted, it is up for publication later this month for opposition.
The replacement 'Sound Body' trademark has already hit a snag, and it subject to Non-final action.
Sell the darn things under Capstone, and be done with it! Sheesh!
I did a whois
Some guy in Utah parked it, Troy Runnells. Simplycomfortrv.com has a fax machine # in Utah.
Slim evidence, but probably someone that has something to do with the company registered it for possible use.
Regards
Looks like you got your 60K DD
and then another 200K went at .014.
You must be getting close to Form 4 filing requirements by now.
:)
Regards
I don't see how a company of Clorox's size
could avoid Chinese made goods.
If they are indeed all Made In the USA, then hats off to them.
Dunno, though.
Regards
Sell the darn things under the Capstone brand
for Heaven's Sake!
If they wait until the trademark stuff gets settled, it'll be next year.
I believe Target has been selling the same kind of "MP3 pillow" for the last year.
http://www.target.com/gp/search.html/602-7045306-0511009?field-keywords=mp3+pillow&url=index%3Dt...
What are they waiting for?!
And no, I don't think they can sell a pillow under "Simply Comfort" in any state where simplycomfortrv.com does business.
Regards
I don't know, DD
I just don't buy the 'Competitors are Watching' reason for not talking about the STP products.
CHDT has an exclusive licensing agreement for these products, right?
So, the fear is that, who, ?Pennzoil? will license competing products if they catch wind of what STP is doing with Capstone?
I just don't buy it. I think they are still in initial development stages, and are still trying to raise enough $$$ to pull this whole deal off.
The catch 22 is they have to keep the stock price up to raise the $$$, to develop the products, to increase annual sales, to get the stock price up...
If they have hard details about the STP products, now would be a good time to tell the market about that.
Regards
DD, I was allowing for the MP3 Pillows
and some STP 4Q revenue.
If that proves not to be the case, I'll revise downward. Still, anything over $1.5M will be shown as a sequential annual revenue increase.
Losses will probably increase over last year, though.
Many unknowns to settle out here. Howard will have another chance to flesh out the STP details, listen carefully to what he has to say, or doesn't say.
There will be a CC after earnings release, right?
Other issues to drop: Status of the PP, coming increase in the A/S (can't see that one any other way).
Regards
Your numbers don't quite match with mine
I dug through the filings and got $2.1M for Capstone in 2005, and figured about $2.0 for Capstone products in 2006. Stable, slightly declining mature business.
CHDT reported $1.5M for all of 2006, right, not $2.0M?
I don't model much if any SDI revenue. I think the focus is off that, and onto Capstone.
I guess at $2.0M for yearly CHDT revenue, mostly all Capstone booklights.
STP is the wild card here, and the Simply Comfort/Sound Body products. I think OBS is another No Show this year.
After the report on the 14th, I'll fine tune my numbers.
Regards
I would guess
it's pretty flat between 1, 2, and 3, with 4 being the big quarter.
1 might be the lowest, only because of returns from the 4th.
I see about $300K for 2nd, which I think 1st would have been without 4th's returns.
Regards
Lucy, check your L2 provider agreement
I don't believe you are allowed to redistribute that proprietary data stream.
I know what a stickler you are for legal stuff like that.
Regards
Current valuation
Figure 600M shares outstanding (fully diluted, it's more than that with preferred conversion) x .016/share = $9.6M
That's about 6 times last year's sales, and 4 or 5 times this year's (my guesstimate of $2M) sales. P/E will be negative, my guess.
2Q earnings will be out in 11 days. Let's update when we get newer numbers.
Regards
Don't count on a September PR re: STP
unless you want to be disappointed. Howard's take on pre-announcing anything to do with the STP product line:
Howard, can you explain why we haven’t seen any recent Capstone updates?
A: Our policy is not to put out releases or information that is non-specific. During the past eight months we have fully developed our Comfort line and are looking to finish our first two phases of STP products by October. It is our policy that while products are under development we will not publicly discuss them because we don’t want to tip our hat to our competitors. Once we have placed the products we will then announce these milestones as well as put the items on our websites.
For example we have been given the URL www.stptools.com but we will not launch that site until we are unveiling our STP line at the October 30th Appex International Hardware Show.
So I hope you will understand and appreciate our silence over the past six months. We have exciting new products and technologies that require us to be silent if we want to be first to market.
Regards
"The transcript is edited quite a bit, like Howard's response to the question about whether they need to get approval from STP for any items they would wind up selling"
I agree, DD, I got that impression too. I don't think the transcript is verbatim.
Regards
Actually we do know that there weren't any significant
changes in results from the same period last year.
It's a part of the 12b-25:
----
(3)
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof: ¨ Yes x No
----
Count on -0- revenue.
Regards
Can I ask?
What's the point of filing a transcript that is not verbatim what transpired in the call?
That's a bit unseemly in my mind.
Regards
NT-10K
As expected. No significant change in results.
I think that means no revenue yet for this company; status quo.
Regards
Howard's Dilemma
With the PP, O/S could expand close to 600M (if it manages to sell out). Howard needs about 13~14M shares to maintain absolute voting control (50+% of 600M).
He has a bunch of non-voting preferred shares (which have a nice liquidation preference value) that he could convert to cover the difference, but the A/S won't allow that.
He has a couple of loans out to CHDT that could be repaid in stock instead of cash, but again, the A/S won't allow much of that (should the PP sell out).
Conclusion: Howard wants the A/S increased, so he could convert some of his preferred to maintain absolute voting control, or take a chunk of shares as repayment for his loans.
Watch for it.
Regards
Updated Float Estimate
We should get firm numbers when they file 2Q earnings in about two weeks, but here is an update from the DEF 14C they filed in May:
O/S: There were 564,865,869 shares of Common Stock outstanding on May 10, 2007
Number held by Officers and Directors: 321,736,120
Of the Officers and Directors, they included Lamadrid's 6,990,000 shares. Since he is no longer a director, those shares are considered part of the float.
Number held by the Fishers (Bart and Margaret: 30,480,185 + 43,925,000 = 74,405,185
So total held by Officers and Directors and the Fishers minus Lamadrid's holdings = 321,736,120 + 74,405,185 - 6,990,000 = 389,151,305
Making the float back in May 564,865,869 - 389,151,305 = 175,714,564
When they register the latest PP shares, that figure will be pushed over 200M, if the PP sells out. That'll make the float roughly 1/3 of the A/S, with 2/3 held by officers, directors, and insiders. They'll be about out of A/S at that point.
Regards
Could you make a case why
this stock deserves 4 to 5 times sales as a valuation?
CHDT is mostly Capstone, which was bought for about 1x sales last year.
Why should Capstone/CHDT, with increased overhead, now be worth 4 or 5 times that?
STP? We have nothing to go on to value that business. Maybe at the end of the year, we'll have some kind of idea, but I don't see that business as providing much in the way of margin. They've outsourced everything: License payments for the brand, hired another company to do the development and manufacture sourcing, hiring rep firms to do the sales end of things. I don't see CHDT's take as being very large, margin wise.
A penny a share would probably be symbolic support, but from a sales standpoint, CHDT is overvalued here.
Regards
It's the 10K that's due
on Monday. They have a history of filing 12b-25s, so I expect that to happen. That would give them until August 14th to file the 10K.
NT-10K on Monday, my guess (could come as late as Tuesday, 5:30PM EDT).
Regards
July Short Interest
Up 233%. As of 7/10/07 trade date. Still pretty insignificant. Short positions for the last year:
Shorts Pct. Avg. Vol. DTC Trade date
17,445 100.00 10,808,752 1.00 07/11/06
24,772 42.00 9,849,021 1.00 08/10/06
1,202 (95.15) 4,046,339 1.00 09/12/06
61,511 5,017.39 2,980,894 1.00 10/10/06
75,325 22.46 2,081,088 1.00 11/10/06
8,405 (88.84) 2,016,398 1.00 12/12/06
18,409 119.02 1,028,695 1.00 01/09/07
28,552 55.10 1,915,276 1.00 02/12/07
43,271 51.55 1,180,376 1.00 03/12/07
45,207 4.47 1,128,010 1.00 04/10/07
3,457 (92.35) 1,444,623 1.00 05/10/07
8,868 156.52 520,349 1.00 06/12/07
29,528 232.97 542,363 1.00 07/10/07
Well, since it's 'non-final'
There's a chance everything will get resolved and they'll get their trademarks. Maybe the action necessary is trivial.
I thought it was funny that Howard said they'd abandoned the Simply Comfort, when TARR shows it Approved for Publication for opposition.
What a waste of lawyer time.
Regards
How big is the warehouse there?
Unless I heard wrong, Mr. Ullman mentioned warehouse space at the new location.
We had earlier been discussing whether CHDT would be drop shipping the STP products. I'm trying to get an idea how big their new space is.
Other interesting tidbit from yesterday's CC: The abandonment (just as it was going out for publication) of 'Simply Comfort'. I think they knew they'd get heat from that pillow website and their Simply Comfort pillow.
From reading uspto yesterday, their two new trademark applications (Pathway Lights and Sound Body) have hit snags; they're already subject to 'non-final action'. I'm guessing the terms might be too generic.
Next up for CHDT: earnings. With no mention of tile sales, I have to assume there were none. I make 2Q revenue around $300K; their Father's Day promotion got fumbled a bit. Revenue for 6 months: around $500K.
In the mean time: the PP. The CC didn't really help matters. I can't see the PP selling out with prices at these levels.
That implies a bit of a cash crunch, unless they really didn't need that $500K.
More loans from Mr. Ullman, or lowered/restructured PP offering?
News of A/S increase comes sooner than later, my guess. By earnings announcement or before.
Regards
Latest Trademark filing
http://tarr.uspto.gov/servlet/tarr?regser=serial&entry=77214456
Simply Comfort still shows as Live, as of 7/20/07
All Capstone trademark filings:
http://tess2.uspto.gov/bin/showfield?f=toc&state=7esf21.1.1&p_search=searchss&p_L=50&...
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