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re: your example of RINO
"Here's a company that had to wait a year for the SEC to come around http://www.reuters.com/article/pressRelease/idUS204452+02-Oct-2008+PRN20081002
"
It isn't particularly reassuring after I pulled up the chart for RINO. Unfortuneately, after Oct. 2 "effective" date the pps basically got cut in half, more, actually.
RINO's story isn't too bad either in that they apparently make flue pollution control equipment for a much needed market in China. OTOH, other than making industrial equipment, there doesn't seem to be much else similarity to dpdw though.
The implication though is a drop due to a renewed deluge of shares available for selling on the open market.
I was previously impatient for dpdw regestration to become effective, now I'm not so sure if it is going to constitute a black cloud being lifted or a big dumpage of rain remaining in the thundercloud.
My impression of what has transpired with dpdw so far goes like this:
They saw a "bargain" oppurtunity to acquire flotec but there wasn't enough time to wait around a year or more for a "shelf registration" to become effective, which would have been safer. So they went ahead and tendered a bunch of new shares and are now paying a penalty waiting to the sec's stamp of approval. The pps has been battered in consideration of dumpage, maybe a lot of that is already built into the pps now, but there is still an unknown potencial residual dilution hit on the horizon after registration becomes effective.
That's my non-expert impression anyway, feel free to correct me if i'm wrong.
JP Morgan says has "plenty of capital"
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=OBR&date=20090129&id=9557927
At least they can't claim "poverty".
I don't understand why so much delay getting them declared "effective".
Seems to me that registering shares would be a pretty straight-forward and routine thing for a company.
I have been following the PR's (well somewhat) and everything seemed to be in order...
What is it that can cause such a hangup in the process?
Ok it probably means that can't trade online then.
For some reason. Scott related....
correction: zeroed out on hi and lo, bid and ask ok 32 x 37
first time they did it that way though. now it looks like a pink. hm
Got a little excited there for a second <g>
thanks
mosh just zeroed out on bid and ask on my scottrade.
Is something happening?
No relation.
OK Small Landscaping Company then.
Never mind I can get answers on my own.
GLTA
I got a little excited when I discovered this company through the press release while going through general financial news.
I previously read about the Indian guy who came up with a way to make "green" rubber" out of old tires. (de-vulcanize)
SO are there are two guys in India with the same last name working with rubber, but not related? One green rubber, the other.. something else, but rubber related?
How does one invest in "green" rubber? Is it possible yet? Does anyone know?
So this outfit MDOR just basically chips tires.
Your post documenting the ostensible major customer turning out to be what appears to be essentially a dinky hardware store, slated to be buying rubber chips way beyond their apparent ability to pay is significant. Gives me pause, anyway.
Looking at the machine, I would guess a 12 second cycle time.
Let's say they can skin 2 lbs of rubber off per cycle.
So that would be 10 lbs per minute per machine.
Times 8 machines = 80 lbs per minute.
80 X 60 = 4800 lbs / hour, approx. = 2 tons per hour
figure 40 tons per day for 20 hours of actual production per day.
40 tons X 300 days production per year = 12,000 tons per year
Per the septic tank guy article, it states about $400 per ton for the rubber chips.
Let's say they get near retail. 12,000 tons X $400 = $4,800,000 per year possible revenue.
That part sort of checks out...ballpark wise.
I agree though that the customer aspect of the story doesn't add up. Maybe they figure can move that much on consignment or something? I imagine they could just send truckfulls from the factory out to various client landscaping sites and dump it, perhaps? It certainly doesn't look like they would be able to pay up front.
Still, I'd rather invest in the green rubber chem process somehow. That would be the thing.
Asumming it hasn't been disproven or something.
Could the surface thing be devulcanization? Even if it didn't penetrate, seems like that would be enough to get rubber particles to stick back together which could then used to make new products.
Could someone just outline a thumbnail description of what is the issue with WEX? Or direct me to a post number where it is discussed?
Presumably there is some kind of dispute...over what again?
thanks
I wonder if part of the settlement or award could include stipulating that jpm as (outgoing) trustee could call for some king of general shareholder meeting / vote to relax the rules for trusteeship such that more viable candidates would become elgible for replacement trustee.
Viable in the sense that they otherwise would be competent and so forth except that currently they can't meet the net worth requirement, which, seems a bit excessive, and in retrospect doesn't seem to have been of much value in its original intent to safeguard the trust.
I daresay there seems to be some buying interest today.
Rather significant considering the general down market day today.
NOBL big 3 bailout play
I remember when this stock was $16-$18 around a year ago.
As recently as 3 monthes ago was in the $5-$6 range.
Noble International (NOBL) produces production laser welded parts for vehicle manufactures.
I used to work in the same industrial park as their headquarters and they have a nice big modern factory facility there as well as several other subsidiaries according to co. info.
I also know a little bit about laser welding and it is superior to conventional spot welding and wire welding in that it does not require flux, wire feed nor inert gas nor expensive spot weld guns with their associate cap replacement and mechanical maintence. There is a significant barrior to entry to this business and they have a lot of specialized expertise and prior capital investment in state-of-the art equipment. They don't sell to just the big three although that is a large part of their business
They were doing pretty good until:
1. Auto sales of all makes collapsed in the economic downturn. Nobody is buying vehicles right now, even Japanses vehicles.
2. They got hit by the credit crunch just when they needed it the most.
3. Fear that the big three will go completely out of business.
I think that this will turn arounf pretty quickly since:
1. The fed is opumping money and credit like crazy into the system to help consumers get and pay for loans - notablby inclusing auto loans. May people and firms can't put off buying cars or fleets indefinately. Sales will likely improve, maybe not to previous levels but enough to get the pipeline for established suppliers like nobl flowing again.
2. fed & Gov are easing and providing all kinds of credit and encouragement which will help Noble's creditors give them some needed slack.
3. The big three will most likely get their bailout. = NOBL will still have their major customers.
4. NOBL announced they are successfully cutting costs and scaling back where they can. IMO this type of operation is inherently scalable up or down as required.
I just took a microscopic position in this stock. Thought I'd pass along my reasoning. Could be interesting to see what happens.
BTW stock looks like it is already moving today....
Oh. Right. thanks
I heard it somewhere and then did some rooting around and seem to recall reading it somewhere that was failrly official, but forgot where I read it. Guess I was tired. I've put a lot of hours in trying to figure out this overall market and it has been very tiring. I used to lose a lot of sleep over my investments. Now that I've lost a lot of money, I guess there is no point in worrying anymore. It already happned. See, a bright side to everything <g>
In the 10Q is pretty significant.
Only thing is, that would subtract X dollars from a settlement amount. I guess depends how it is valued.
I think that I also recall that midway was producing _something_ - slightly impure gas, but that is typical for deep wells - actually not as bad as many. Some of them have a very high CO2 content, midway does not. Just a little HS and merc which can be easily filtered out with standard technology.
So, theoretically, we would get an income stream back, asset value of trust goes up, then, what, we still need to recover lost income...
Just trying to get a renewed sense of what is possible/feasible settlement/award wise.
Obviously, this is pretty much all conjecture.
What happened to the rumor(?) that pxd offered to give midway back? I think it was more than a rumor, wasn't it?
So. If pxd gives midway back what would that leave in regard to remaining settlement dollars?
I imagine a cash settlement would result in a cash distribution to unit holders, but if the trust received property, then that would result in being reflected in the unit price, right?
Or would the cash portion, or part of it be retained for drilling/re-drilling ?
I wish this would hit before the general stock market recovers too much. A lot of good bargains out there...
Though at present, otoh, seem to be more everyday <g>
Actually I'm rethinking my suggestion as well. Current perusing moly articles indicate that moly could bounce back pretty soon and with greater vigor than other base metals.
The news item today is the Chinese stimulus package. Only thing really still up as the general market swoons again is the chinese steels. So they appear to be benefiting right away and what do they use a lot of = moly.
I believe china has a lot of their own moly but nevertheless they will be absorbing moly - so, no oversupply due to china now.
There's a lot of O&g pipeline needing to be made for ongoing projects here and there in the world (notably chinese).
So, the main thing is for gpxm to weather the storm. Maybe they need to keep running to have to generate some cash flow regardless, i don't know. If it was feasible for them to shut down for a while to conserve cash it probably wouldn't have to be for long.
re:"pxd has offered to give ba39 back
That's great news. How long has that been out? (first i heard of it...surprised there hasn't been more unit buying by now)
Encouraging. Definately constitutes a loud settlement noise.
Actually kind of interesting. Puts mosh in a bit of a strange position though. If we say it is worth $1.2 billion or whatever, they can say, hey we're all squared up now...
Unfortuneately, it needs to be repaired/probably redrilled and mosh has no money for that.
Oh, wait. If woodside stays on as ptr, then they would redrill, since it would be in their interest to do so. After that mosh collects a decent share of income, right? cause now have 50% back?
not looking too bad so far...
How much would it cost to mothball the mine for a couple of months?
Obviously there is a temporary oversupply of moly in the market right now. That is because the end users are hesitating to buy. That probably due to fear of global recession and the snowball effect of expecatation of lower prices in the future.
Better yet maybe they could contact other moly producers to temporarely reduce production - pull a mini-OPEC style strategy.
Unless the fall in spot price of moly can be stopped and reversed, everybody is just going to wait out buying until the last minute and use whatever reserves they have stored up. Now, when the price of moly starts back up, they'll all probably start buying like crazy. I expect something similar to happen to the price of oil, soon, too. (overreaction)
I just read through about 500 posts. The one about them needing to increase production to make up for lower moly price doesn't make too much sense unless there is an economy of scale involved. I don't think there is until they work through the lower grades to get at the higher grades. Otherwise, they are just flooding more moly into the current oversupplied market.
PPS is already tanked (I still have some .46 shares in my IRA account. They'll probably still be there 5 years from now, so I'm a long term "investor" in GPXM anyway <g>) Furlough everybody for a set time with the understanding they will come back. Hire a night watchman or whatever skeleton maintenance crew. Now they wouldn't need to sell any more shares or otherwise raise cash because they wouldn't hardly be spending any.
How long does it take for moly ore to finally end up as actual moly metal on the market? Use that figure to set the time period...
"per curiam". law & legal definition
http://definitions.uslegal.com/p/per-curiam/
Per curiam refers to a decision handed down by the court as a whole, without identifying any particular judge as the author. It is the opinion of the court as a single body. Most decisions on the merits by the Supreme Court and other appellate courts in the U.S. are signed by individual justices. Even when such signed opinions are unanimous, they are not termed "per curiam." Per curiam decisions usually deal with issues the court views as relatively non-controversial.
I definately like that. <g>
My legal term ignorance is showing:
Is "Affirm" by CoA good or bad for MOSH?
Would "affirm" that mean they affirm the lower court's decision?
Or do we want "Dismiss" or "Deny"?
Such that they dismiss or deny PXD's appeal?
Initial signals positive from Gulf after Gustav passes
http://www.chron.com/disp/story.mpl/hotstories/5977180.html
The power of positive thinking.
See - the chant worked. <g>
also Apologies to ron - my little "tongue-twister" was meant to be posted as a general message to lighten things up a little bit. not as a reply...
MISS MOSH MISS MOSH MISS MOSH
The power of positive thinking. Here's a chant to ward away the hurricane. Okay everybody, altogether now. Say it six times, real fast, out loud. MISS MOSH
C'mon. Annunciate. Oh well.
Guess it would have worked better before the open bar. <g>
ok - tomorrow then is "motion to compel"
Oh. So it would be, first a motion to compell them to turn over docs by next month, then, next month they actually turn them over (or else).
this court stuff sure is a long drawn out process.
Looks like hurricane is going to miss MOSH
http://blog.wired.com/wiredscience/2008/08/hurricane-gusta.html
However, it could "shut in" production/gathering/shipping area - somewhat likely.
If that happens, nat gas would likely spike (i wouldn't be surprised to around $12 again).
That would mean mosh properties (reserves) would become more valuable.
this is the day, isn't it?
for discovery i mean...
Hurricane Gustav could provide a little "excitement". Apparently good chance may hit GOM producing region(s).
Whatever it does it won't effect outcome of our case since case is based on past deeds (as has been covered here in previous discussion).
However, crude is evidently upticking in anticipation. Nat gas will likely be upticking as well. hm. I may putter around with some of my other o&g related holdings, I don't know...
In any event if one plans on doing any significant driving around labor day, might be a good time to fill up as retail gasoline prices will probably be following suit real soon...
Just for fun I am going to speculate that if (which is to say, when) 9-28 disc goes through it will be pretty clear that PXD's mandamus attack on the judge isn't going to succeed and we will probably get another event/milestone driven surge up. I'm thinking to .45 (based on +.03 step magnitude of last two upward spikes of 6-6- and 7-7 ).
Interesting reading indeed. Thanks for posting.
Since JPM is one of the parties being sued by unitholders, how is it that using trust monies (property) to fund their own legal defense, does not constitute a further ongoing breach of fiduciary duties? Even though jpm's employee MU basically arranged the loan from (jpm) to the trust, that money is the property of the trust, indeed it presumably would need to be paid back out of trust income, otherwise it would represent a partial monetarization/pre-liquidation of trust assets. Spending the cash on jpm's legal fees does not benefit the trust but instead solely benefits MU/jpm. Shouldn't jpm use their own money for things that only benefit them? Looks a lot like commingling to me.
"
G. Duty to Segregate Trust Assets and Not to Commingle
1. The common law duty.
A trustee is under a duty to the beneficiary to
keep the trust property separate from his
individual property, and so far as it is reasonable
that he should do so, to keep it separate from
other property not subject to the trust and to see
that the property is designated as property of the
trust, Restatement (Second) of Trusts, supra, Sec.
179; Bogert, supra, Sec. 596-612; Scott, supra,
Sec. 179.
"
are are one... (??)
i don't get it
One remaining factor might be how the prospects for our sitting judge's reelection look if things drag on that long.
The main thing would be that a potencial new judge presumably wouldn't be as familiar with the complexities of the case.
Since I've been continuously holding a more or less modest position in MOSH since Dec., the issue isn't whether to hold but rather how much to hold. How much risk to assign to this aspect in trying to envision how things could play out under either scenerio.
Duly Noted.
Thanks for the information on ihubs politics boards. Just checked it out. I suspected they existed but never looked for them before.
My sense of irony just kicked in considering a large picture of a candidate just seems to have rotated in on the (presumably paid) ihub (politically oriented) ad to the right of your admonition. <g>
I will attempt to repost the nonpolitical portion of my message here. Although the issue of the judge's reelection is relevant to MOSH there is a political component that may be hard to avoid since her party affiliation may be a factor in her chances for reelection depending upon which party sweeps into national office and so forth. Obviously we want to avoid the danger of escalation off-topic into what we used to call verbal "flame wars".
Hopefully you will also be quick on the trigger with the other two of the big three "never talk about in an unfamiliar bar" topics: Politics, Religion and Sports.
Thanks and Keep Up the Good Work. <g>
re: Eugene Island 330 and self-renewing oil supplies
I think I may have posted something similar last year. How neat would it be if some of the capped wells showed signs of refilling after they were put back on line. They're in the same geographical region I think.
Interesting stuff.
btw. Thanks for the critter advice. Good Advice.
OT: thanks. that could be a problem though.
The only known way to defeat them is to dress up a giant firecracker like a female tazmanian devil to lure him out.
Actually it might not be. Don't they make more of a slavering, gutteral slobbering sound? Plus no evidence of a mini-tornado-like dust cloud.
I'll check the shovels for bite marks just in case. <g>
i guess we better cool it . trading is about to start soon....
Geez When you put it that way, it doesn't really sound very appetizing at all. <g>
But, since we're on the subject of forest creatures, and seeing as you're an avid outdoors sportsman, I have a question for you. What kind of animal makes a sound like this:
"Grrr....whoop whoop"
I went into my garage yesterday and it startled (ok, scared) the heck out of me (for a second).
Apparantly, some work I had been doing with the roof last year and didn't quite finish, allowed a space big enough for something to get in and proceed to take up residence. Like any _normal_ person I have a lot of stuff stacked around so I can't see what it is or where it is.
I thought about going in with a shotgun but then I remembered that old cartoon piece with Elmer Fudd and the fly, so it will probably be heavy gloves and a broom to start with.
This is basically the thumb area of Mich, my lot borders a woods.
There is always a short medium pitched growl followed by two whoops increasing in pitch whenever I go back there. It's a little unnerving.
I decided that it would be more productive to come back in and watch every tick of MOSH. Unfortunely it's not ticking much lately so I may be forced to actually do some outdoor chores although I believe rain is forcast for tomorrow so I still have my hopes up. <g>
Wolverine or Chupikabra?
I guess will find out eventually one way or the other, just wondered what your take on it might be.
oil took quite the little dip today.
It's still going to be at historical high prices but the psychology may stall our recovery in pps here. Even if oil goes down significantly, confirming the presence of any oil or gas reserves is going to send the value of this up by multiples. There are a lot of risk factors to global oil supply, so even if there is some temporary moderation in demand, the overal trend remains up.
I don't know. All it will take is probably one pr to re-ignite buying interest. otoh, nothing much is probably going to happen with the co. until next year. So, more holding of dead money so as not to miss the big sudden event in the future. One gets a few of these in their portfolio and you really begin to start getting annoyed with them after a while, month after month.
Theoretically, one shouldn't care much about the pps if one is convinced that of the future potencial, however these dips in pps create an annoying fluctuation in one's account balance ( i have the adr's) which dodn't even trade for days at a time. That, along with the typically wide spread makes it hard to buy back in later, so one is also reluctant to dump.
You beat me to the punch posting .006 that is the narrowest spread i've ever seen on mosh...
bids are stacked pretty hugely. only big resistamce block on the ask is waiting up there a mere skip and a hop at .45. Interesting <g>
So, is this a buying oppurtunity or what?
arrogant bunch of snoots <g>
yes, you're right. I guess I shouldn't have been concerned about that.
OK. The evidence of past wrongdoing exists on its own, regardless of the present state of all the physical pipes and stuff.
hurricane season has started...
Is there such a thing as hurricane insurance for o&g rigs?
Seems like mosh should buy some, at least for this season.
It's somewhat unlikely, but another Katrina could really gum up the works for us, couldn't it?
Now, katrina was unforeseen, but now that it is known what can happen under contemporary climate conditions, it would seem only prudent for the trustee to protect the assets under their care by seeking insurance against a repeat of hurricane damage.
Also we could establish an "insurance value" which could support our contention that the assets have significant value.
Actually, come to think of it, wouldn't really need to insure the full $1.2b, but, I would think, at least for possible repair costs if was hit by another hurricane.
I'm a little concerned that the defendants delays could arise from the longshot hope that maybe hurricane could wipe out their problems. Insurance, such as it might be available, would remove that possible incentive.