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Do they have the list of Vietnamese customs brokers as well? The only definitive destination of their products, that I found in Florida, informed me differently. They never made payments to Mekonza, but their names were just on the paperwork of some of the larger orders.
I see recent imports hit port in New Jersey, now. Check where the import is supposed to go, on the recent bill of lading. Their destination is still a residence in a neighborhood, though. Is he running the import company from their home? Is it legal to run an international import company out of a residence?
Very suspicious to me. I would expect an importer that nails down millions in revenues, while recording low profit margins, would have more to show for it. Lots of oddities. I used to think the same thing, that the company was completely honest, but strange things kept stacking up. Have any new addresses been verified? I live in Cali, so I drove up to addresses they had listed before, only to find office space for rent. I was very upset, as I was actually trying to prove them to be authentic.
Beautiful day in the land of MINE, here. Anybody expecting a gap over .019 and run to .02, before somebody tries to bring it down? I think shorts and bulls are going to be fighting over holding/breaking that .02 mark.
It's just them using it consistently as their main revenue source, that concerns me. They have played the same cards since 1 year ago. I hope you are right. Still haven't seen any significant revenue growth from anything else. I always check back here, hoping they got the mess sorted, but never end up buying. I also like to warn people about the customs broker thing, because I had to do a TON of digging to find it.
The seafood is a load of BS. Customs broker only. The MJ edibles sounds great, but MJ in California still has to be non profit. So how are they going to make their money? As to the shareholder divy - did they give you a 50% dividend, then? This was at a 2 B O/S a year ago. If the sex pills help, that would be great. Also look for more progress in CO, if anything. Oh, and just watch to make sure they aren't dumping more shares. They really need to start showing the shareholders some ROI, from higher net profits in their Q's, rather than just more share dividends, that dilute your value even more. Just be careful.
Be careful here folks:
I researched the hell out of these guys a while back and found they are a customs broker (I called the people in FL that received product from them), not an importer/exporter. That is why their margins are ridiculously low. If they were an exporter, then they should have made a ton of money last year, when shrimp jumped through the roof. Not so, though.
I am curious if anybody knows if they still own Valley Organics. They might be a saving grace. They just got a license and program through ITNS, for point of sale transactions for MJ.
Like I said, be careful, though. If they were really doing that amazingly, then why have they had to dilute about 1B shares over the last year? I hope things look better, because I will definitely be on board with some other solid revenues, but they still need to cut sling load on the customs broker sham before I would feel that comfortable on holding.
I figured a close of .0137-.0139, so this is excellent. Have a bit more free for tomorrow, as well. Hopefully there isn't much disappointment if news doesn't drop.
I wouldn't worry about the fluffy words, substantial is very subjective. Still, the fact that they pulled a higher profit margin with such a harsh decline last year is impressive.
I completely agree. This is why I used a 10% profit margin for the reserve. The company stated increased profits even with the gold decline last year, though. They already are at depth, and still mining. They also opened mills so they can process their own ore and others', thus cutting more costs and adding to their bottom line. So...going with the average in the area is okay with me here, but I still usually don't add their in ground reserves to assets. Another reason I went with a 10% margin on the conservative estimate.
Remember - rapid smaller share block buys pushes through fake walls/ concealed 10k shorting asks better than large share blocks.
L2 is making me dizzy with MM's scrambling all over the place.
Where are you getting your numbers? Cost of extraction should be closer to $750 per oz in Ecuador.
Looks like float L/D is imminent, if people hold their shares.. I know many people must be bailing now, though. Taking profits on the way up, as is expected. Especially after such a long pain in the ass churn it had. Hopefully get some good news and see this gap and run.
Look at that L2. Nice try on the walk down, I suppose. I think we may get the cover into close again. MM's have so few shares!
That is VERY conservative, if everything is above board. On proven in ground assets, I know most people like to use a 50% factor instead of 10%. Here on the pinks / it being overseas, though, makes it somewhat risky.
Whoops, nice catch. Let me fix that. Lol.
Even taking 10% asset calculation (I honestly must decline from ever adding full reserves to asset value) with changes in bold:
Positive Equity : $6.8 M + $86 M = $92.8M
Revenue: $2.5 M 1st Q, Approximately $12 M annual (accounting for increase in operations, while subtracting gold fluctuations in market for a very conservative number)
12+92.8 = 104.8 M
104.8 M/ 527M O/S = .1988 Intrinsic
.1988 x PE ratio (4) = .7952 per share
Not necessarily, due to operating cost fluctuations in recovering all of those assets, and the changes in gold valuations. Also possibility of political changes (with it being overseas). If you want, you could probably add about 10% comfortably.
Whoever is selling 1 M share blocks off on the bid, and stacking the ask every 2 hours - stagger the damn blocks higher up the ask, instead of being a dumbass, please. Learn to trade a little smoother and everybody makes more money.
This is true, but it has not been long since their last update. Key hopes - increase in mill operations and increase in proven reserves. Ongoing mining operations don't need to see too much expansion in the 2nd Q, with the drop in gold prices. I would rather they held off on spending extra money on that until gold looks more stable, or trends back to $1350 per oz. Even confirmation that revenues and profits are sustaining will probably be enough, though. Financials down here can be fudged, which is the main factor I don't always trade on them, but it is still good to do most of a fundamental analysis, IMO. I like the numbers to add up somewhere.
Recalculation of PPS estimates working with equity instead of just assets (assets-liabilities for those who don't know), and adding the numbers into your equation would be more like:
Positive Equity : $6.8 M
Revenue: $2.5 M 1st Q, Approximately $12 M annual (accounting for increase in operations, while subtracting gold fluctuations in market for a very conservative number)
12+6.8 = 18.8 M
18.8 M / 527 M O/S = .0356 Intrinsic
.0356 x PE ratio (4) = .1424 per share
This is only using positive equity with conservative estimates on increase of revenues from expansion of operations in terms of mills and mining. I really believe the annual revenues may touch closer to $14 M, if growth continues.
You are working off the net profit numbers for one quarter, my good man. Revenues for the 1st Q 2014 were 2.5 M alone. Their annualized revenue from 2013 was over $8 M.
If this acts likes yesterday's price action, then my initial estimation of settling just under .014 could be wrong, and we could close at .0156 today. Looks great, though.
I don't doubt it. That is why the MM's can't walk it down enough to get the shares they need. Forces them to cover higher, and figure out how to cover losses taken. Have you seen the naked short numbers on this beast? They make up a ridiculous percentage.
I don't think any of the other MM's have shares to give up, so they are probably struggling to maintain liquidity here. Instead of pushing the price up, though, they can only short sell shares, so they try to keep pressure down. They most likely have a large naked short position that needs filled, and since this stock has been running strongly up for so long, they are assuming it will drop any time now so they can fill their positions. So they short the hell out of it. Small share block buys seems to be working, when the walls aren't real. Kills the short game fast.
Anybody else seeing the L2's? Looks like MM's are begging for shares, but nobody has any to sell! The correct news would shoot this through the roof. They don't seem to be into ever publishing something without substance, so I would bet any news now would be good news. One thing that has to be taken into account, that may have a small negative impact, is the mild drop in gold prices in the second quarter. The volatility has been rather high, as well, so it also depends on how much they are able to sell their product for, on the date they are selling. Over $100 per oz difference than the 1st Q high can change a few numbers around. The increased mill operations should provide steady revenues to compensate for the fluctuation, but we shall see. If they announce that they were able to prove more of the 1.2 M oz possible reserve, instead of just the 684,000, then this goes even higher. In any way you value this one, though, the current prices are still very understated.
I wouldn't mind it coming out sooner, but it isn't very typical of the company to post news after market close. I was just saying I think it to be a better possibility that it drops tomorrow, if they are going to publish one this week. It can still happen at any time, and I would love for it to come sooner, but I don't think it very probable that it comes today.
This movement is still on very low volume, compared to what MINE trades with on news. If something comes out, and volume floods, .03 would't be a hard target.
When there are short weeks from holidays, I see more news drop on Wednesdays instead of Tuesdays (if there is any ready to report) the week after. Also, the company is pretty steady with news, and with mining and mill operations picking up for the season, it seems a sensible time.
Watch for some MM's to cover shorts at close again. ASCM looks pretty damn desperate. I think tomorrow would be a better possibility of news than today. Hopefully we hear something soon!
Just how many shares is ASCM going to buy? He has been soaking up lots of shares, even at these higher levels.
Looks like this stock is finally going to be able to breathe and move. Good to finally see those shares were delivered to JMJ. It explains heavy shorting action on the stock for so long. Usually note holders will short the hell out of a stock on the week or two leading up to the conversion date, just so they can be entitled to more shares at a lower conversion price. Then they just dump the rest. The cycle should be finally completed, though. The shares were dumped rather quickly.
As for the Series B - it isn't bad, as long as management are decent people.
They do entitle the holders to absolute control of the company. They also entitle noteholders to priority on dividends and assets/value in the event of liquidation. The current conversion price is set at .02, so they don't benefit a whole lot by trying to convert them at all. As long as the management team is good, and appreciative of shareholders, though, these shares are not immediately harmful. Potential to be later maybe, but not bad now.
Key to fighting short sellers and wash traders - I have found the number of transactions seems to impact the price more. Using multiple small share blocks on buys instead of large chunks, pushes the price more than just large share blocks. Real walls still need to be torn down, but fake walls and concealed 10k asks get kicked up faster using this method. Just something I have observed. If shorts try manipulation down, we can do the opposite. :)
Prices too low for liquidity. Needs to be higher to convince people to part with anything. Doing great folks! Watch for a short attack. Might get one from low volume mover, but hit the ask with multiple small share blocks, and it kills their drive down!
Looking great here.. Setting beautifully for preparation of news drop.
Give the chart players a minute to catch up, folks.
Market cap is only 300k shy of the equity, finally! Now, we must catch up with what the current revenues/profits add to it.
I called the close yesterday. I also predicted a gap above .013 this morning up to .015, and settling just under .014, without news. News puts us up over .02 easy. I hope I am wrong in a good way and we jump up to .02 as everybody hopes w/o news, but small steady, consistent inclines are still good enough for me. Just don't want everybody to set exorbitant expectations and be disappointed with a small gain, when in fact, it is still a great movement for the stock. Especially considering how many days this has stayed positive over the past couple weeks.
Perfect close for the day, imo. Set for gap over .013 in the am, with a leg up to .015, then consolidation under .014 again. If news hits, .02 pretty easily.
Lots of loading here. Hitting the ask with multiple small share blocks moves the 10k bids easier than large blocks all at once. Some large chunk share sales getting eaten up, though. Maybe ASCM has been fed enough to cover some losses, and they will stop the suppression action.
HFT's look to definitely be here. Rearranging bid and ask groups to fill those positive trades into the algorithm. Looks like a good set for a steady push this afternoon. Maybe close .0125.