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Is anyone still here? Great PR today from WNDEF regarding the Windstar project and other valuations to follow. It seems I was not too far off in my projections from 2009 of Western Wind being worth 7.00 per share in book value once their projects are completed. Here's the news in case anyone is looking after this after the news fades away - Western Wind is not very closely followed and trades rather thin - for now.
Fair Market Valuation of the Windstar Project and Western Wind’s Equity Position
Western Wind Energy (USOTC:WNDEF)
Intraday Stock Chart
Today : Friday 25 February 2011
Western Wind Energy Corp. ("Western Wind") is pleased to announce that the first phase of the valuation process pursuant to the Substantial Issuer Bid process is completed. Western Wind under recommendation from one of its lenders, engaged the world renowned DAI Management Consultants, Inc., ("DAI") to perform a three-part valuation process of all of the Company's assets, both financial and physical. The first phase is a comprehensive valuation of the 120 MW Windstar Project located in Tehachapi, California as of the expected commercial operations date.
The total assets of the Windstar Project as of the expected Commercial Operation Date, are valued at US $481.8 million comprising the Project's fair market value of US $357.9 million, plus the potential cash grant of US $99 million plus a further US $25 million of fully funded working capital, debt coverage and performance bonding reserves.
Subtracted from this are expected liabilities totalling US $275 million, comprising senior debt facilities of US $205 million, the equity bridge loan of US $55 million and a vendor obligation of US $15 million.
DAI estimates that the value of Western Wind's net equity position in the Windstar Project as of the expected Commercial Operation Date is US $206.8 million. There are 56,248,958 shares issued and outstanding.
Management expects DAI to complete the balance of the valuation of the remaining assets of Western Wind Energy within the next four (4) weeks. Some of the assets remaining to be valuated are the 30 MW producing Mesa Asset, the 4.5 MW producing Windridge Asset, the 10.5 MW Kingman Project, the 80 MW Windswept Project, the 30 MW Yabacoa Solar Project, the 196 MW Snowflake Project and several other high priority development assets.
Jeff Ciachurski, CEO of Western Wind Energy states "we are pleased to have engaged the services of DAI. DAI is a world class energy valuation firm that is highly respected by government agencies, banks, utilities and independent power companies for their comprehensive understanding of the entire spectrum of the energy business."
The Western Wind Board of Directors, management team and staff are prohibited from participating and selling into any prospective share buy-back program.
About DAI Management Consultants, Inc.
Founded in 1987, DAI is a consulting firm specializing in valuation and risk management services for the power and energy infrastructure sectors. DAI provides a comprehensive suite of analytical services addressing the technical, regulatory, and economic issues that directly affect power and energy projects. Clients of DAI have included the United States Internal Revenue Service, major public and private utilities, financial institutions and independent power producers.
About Western Wind Energy Corp.
Western Wind is a mid-tier vertically integrated renewable energy production company that currently has by way of 100% direct ownership, over 500 wind turbines and 165 MW of net rated capacity in production or in construction, and a further 311 MW of priority expansion development assets in the States of California, Arizona and the Commonwealth of Puerto Rico. In addition the company has a 1,300 MW California Development Initiative.
Western Wind is in the business of owning and acquiring land sites, generation assets and technology for the production of electricity from wind and solar energy. Management of Western Wind includes individuals involved in the operations and ownership of utility scale wind energy facilities in California since 1981.
ON BEHALF OF THE BOARD OF DIRECTORS
"Signed"
Jeffrey J. Ciachurski Chief Executive Officer
Crunch the number and see what you come up with yourself. Read the early posts and see what others have paid outright to purchase completed projects. Even if Western Wind never sells any of their completed projects, they have every MW of energy they can produce for the next 20 years already under purchase agreement. I have been steadily accumulating at these levels, and I am confident that WNDEF is worth at least 7 bucks once properly valuated.
malc
XIN. Well, I was hoping for more of a spike here but hey, China is still repressed... These numbers are respectable and hold weight one would expect with the top shelf auditor and also trading on the most stringent and respected exchange in the world....
I'll be holding all my shares at least until a fair valuation of 10x P/E, and even at 3.00 its trading below a trailing P/E of 5 and 2011 looks like a minimum eps of 1.00.
I wouldn't be surprised to see much better, Q4 2010 eps of .28? That's awesome!
It would really be nice to see the days when a high growth stock like this trading on the NYSE would command a P/E of 15-20 minimum. Hell, all my shares of XIN are in my IRA account and I might just have to ride it out until the good days return, I got plenty of years left before retirement.
malc
XIN. Bought in again on Wednesday anticipating a better than expected Q4 and full year 2010, and the numbers are out...
http://finance.yahoo.com/news/Xinyuan-Real-Estate-Co-Ltd-prnews-3926951275.html?x=0&.v=1
Looking real good here to me people, let's see how the market likes these apples. Top 4 auditor, and probably still the most undervalued stock on the NYSE. Stills was right!
malc
WNDEF. Great news today guys, read this carefully if anyone is interested. It's one of my fav canadian plays and been a longtime holding that's about to start seeing some fair valuation IMO. It's been brewing a long time. I'll be scrambling to add more shares on this news ASAP.
Fair Market Valuation of the Windstar Project and Western Wind’s Equity Position
Western Wind Energy (USOTC:WNDEF)
Intraday Stock Chart
Today : Friday 25 February 2011
Western Wind Energy Corp. ("Western Wind") is pleased to announce that the first phase of the valuation process pursuant to the Substantial Issuer Bid process is completed. Western Wind under recommendation from one of its lenders, engaged the world renowned DAI Management Consultants, Inc., ("DAI") to perform a three-part valuation process of all of the Company's assets, both financial and physical. The first phase is a comprehensive valuation of the 120 MW Windstar Project located in Tehachapi, California as of the expected commercial operations date.
The total assets of the Windstar Project as of the expected Commercial Operation Date, are valued at US $481.8 million comprising the Project's fair market value of US $357.9 million, plus the potential cash grant of US $99 million plus a further US $25 million of fully funded working capital, debt coverage and performance bonding reserves.
Subtracted from this are expected liabilities totalling US $275 million, comprising senior debt facilities of US $205 million, the equity bridge loan of US $55 million and a vendor obligation of US $15 million.
DAI estimates that the value of Western Wind's net equity position in the Windstar Project as of the expected Commercial Operation Date is US $206.8 million. There are 56,248,958 shares issued and outstanding.
Management expects DAI to complete the balance of the valuation of the remaining assets of Western Wind Energy within the next four (4) weeks. Some of the assets remaining to be valuated are the 30 MW producing Mesa Asset, the 4.5 MW producing Windridge Asset, the 10.5 MW Kingman Project, the 80 MW Windswept Project, the 30 MW Yabacoa Solar Project, the 196 MW Snowflake Project and several other high priority development assets.
Jeff Ciachurski, CEO of Western Wind Energy states "we are pleased to have engaged the services of DAI. DAI is a world class energy valuation firm that is highly respected by government agencies, banks, utilities and independent power companies for their comprehensive understanding of the entire spectrum of the energy business."
The Western Wind Board of Directors, management team and staff are prohibited from participating and selling into any prospective share buy-back program.
About DAI Management Consultants, Inc.
Founded in 1987, DAI is a consulting firm specializing in valuation and risk management services for the power and energy infrastructure sectors. DAI provides a comprehensive suite of analytical services addressing the technical, regulatory, and economic issues that directly affect power and energy projects. Clients of DAI have included the United States Internal Revenue Service, major public and private utilities, financial institutions and independent power producers.
About Western Wind Energy Corp.
Western Wind is a mid-tier vertically integrated renewable energy production company that currently has by way of 100% direct ownership, over 500 wind turbines and 165 MW of net rated capacity in production or in construction, and a further 311 MW of priority expansion development assets in the States of California, Arizona and the Commonwealth of Puerto Rico. In addition the company has a 1,300 MW California Development Initiative.
Western Wind is in the business of owning and acquiring land sites, generation assets and technology for the production of electricity from wind and solar energy. Management of Western Wind includes individuals involved in the operations and ownership of utility scale wind energy facilities in California since 1981.
ON BEHALF OF THE BOARD OF DIRECTORS
"Signed"
Jeffrey J. Ciachurski Chief Executive Officer
The value of the Windstar project alone is worth the projected 7 dollars per share as I predicted back in late 2009. I got in back in 08 at .50 Backing out the costs of construction and financing, todays report values WNDEF's Windstar project alone to add 3.66 in book value alone. More valuations on the way.
malc
Awesome news Badboys, glad to see you are still around. I figured you were pretty much dead serious about the value of TDGI from all your posts. Forgot that you were laying low until 6 cents, so many posters say "I won't post again till..." and then, well, you know.
The volume in TDGI this brief week has been nothing short of specktacular! A massive increase in volume with significant spike in PPS is a true recipe for success IMO. Wash, rinse, repeat...
malc
OT. TDGI.
Ok crew, Harley and I have been beating you over the head with this non-China progressive stock but I can tell you in all honesty, its been my largest holding for over a year now. The company is barely over a year old as far as being public traded under the TDGI symbol - the official name is Hannover House and the CEO is the ex CEO of Nasdaq traded Hemdale. I was at the shareholders meeting myself in January 2011 and I can tell you guys from meeting mgmt in person and visiting the warehouse/offices facility that this is a real upcomer with drive and talented people behind it with connections.
I know for a fact that Eric Parkinson, CEO, is not any more happy than I about trading on the pinksheets but it is a necessary evil until the audits for the last 3 years can be signed off on and we can uplist - We discussed it in detail at the warehouse after the official meeting.
I know this sounds like I'm pumping and maybe I am, but I guarantee everyone I will not be selling ANY shares at these still very depressed levels IMO. Harleyman and I are more than willing to field any serious Q's from y'all - we have been in this since damn near the beginning and pretty much know everything there is to know in the realm of public knowledge.
TDGI closed at .063 today, highest pps ever. It did touch .06 intraday briefly last year on speculation that the movie Twelve directed by Joel Schumaker and starring 50 cent, Chase Crawford, and Emma Roberts would be a hit. Well, it was not, it flopped in the theater. However, the DVD release was on Dec 28th and subsequent sales have been stellar. Q1 2011 and EOY results for 2010 should be out soon. After a very trying 2010 I can afford to wait for uplist and official numbers - TDGI has been flying high without these as of late. More of this to come IMO now that we have broken all time highs and it appears that this time TDGI has some staying power. And check out the volume this week... Nothing short of amazing.
malc
It appears I picked a pretty good time to re-enter AXPW last week. Maybe this article by John Peterson in Seeking Alpha had something to do with the volume and price action.
Great idea to bring up AXPW's relation to stop/start technology John, if you are still keeping up with this board.
http://seekingalpha.com/article/254498-just-one-sector-fuel-efficiency-pure-plays
malc
EMDY. Just bought a bunch more at .98 If people want to give them away at this level I will be happy to take some.
malc
EMDY. I totally agree HC, this is a quality investment and I will be adding at these bargain levels. Regarding GHII, I think it is likely to move up even without a PR, who knows if GHII will bother to do that, it seems they are well aware of the black cloud that has been following them around since like, forever now, and the numbers are quite impressive but I doubt that anyone believes them more than in the past. I held this for over 2 years before reluctantly letting it go last year but it went even lower. Their auditor, Crowe Horwath I believe, is pretty well respected, so I don't know what gives here. Perhaps they are a victim of their incredibly low P/E of now around 1 (huh?) and the market is skeptical of that alone, wondering something along the lines of "if it looks to good to be true..."
I will continue to watch on the sidelines for now but I also would not be surprised to see it bounce back to its previous level of trading around a P/E of 2, lol, which would be around 6 bucks. Actually, I don't know what I will do today, I may go ahead and get a little chunk for now, I've played it so long to my disadvantage this may be an opportunity to break even over the long haul...
I did take a position in XIN yesterday again awaiting Friday numbers. Wanted to get in before any run into earnings, if any.
The China bear market regarding real estate has really run all over this one and the problems in china real estate are in Tier 1 cities and Tier 2 is actually quite healthy with over 80% of properties being purchased by owner/occupants.
malc
EMDY. Article in seeking alpha about China diary industry. The author keys on RDBO, and I follow them as well. Impressive earnings last Q. Hopefully EMDY can put out equally impressive numbers next Q.
malc
http://seekingalpha.com/article/254058-chinese-dairy-market-looks-promising
ADXS.
I know this is very old news as of now but for me it is the singlemost convincing reason to invest in ADXS right now.
NORTH BRUNSWICK, N.J., Nov 24, 2010 (BUSINESS WIRE) -- Advaxis, Inc., (OTCBB: ADXS), the live, attenuated Listeria monocytogenes (Listeria) immunotherapy company, has begun dosing patients in its 110 patient clinical trial of ADXS11-001 for the treatment of cervix cancer in women for whom cytotoxic treatment has failed. This follows extensive review by the office of the Drugs Controller General of India, a blue ribbon commission of scientists convened to assess Advaxis clinical protocol, and a chemical and microbiological assessment of ADXS11-001 by the Indian Central Vaccine Research Laboratory at Kasuli. The initial patient is at the Dr. Kamakshi Memorial Hospital in Chennai.
The U.S. National Cancer Institute's Gynecologic Oncology Group has conducted 16 clinical trials in over 500 patients using various therapeutic regimens in this patient population and found the most effective regimen tested resulted in a median survival of approximately 6 months and a 1 year survival of 5%. By contrast, in a phase 1 study not designed to show efficacy, ADXS11-001 demonstrate a median survival of 347 days and a one year survival of 53%.
Because of the progressive and rapidly fatal nature of cervix cancer in women for whom cytotoxic treatment has failed, the design of this trial allows for a rapid appraisal of efficacy. Advaxis intends to report the effect of ADXS11-001 on survival versus these historical values in "real time", as the trial progresses, beginning in Summer, 2011.
That, and the fact that the share structure is not out of control, they are doing a great job of managing debt so far, the CEO's shares were valued long ago at .28 ...
OK, multiple reasons to be excited about ADXS at this point in time and I have been steadily accumulating at these levels when possible. I'm not done yet.
malc
P.S. I'd be down with changing up this board a little to reflect the fact that we target all kinds of progressive stocks. Not just China. China has and always will be a significant portion of my portfolio but I'm not putting all my eggs in any exclusive sector. Your thoughts on the matter Harley, hell, you do all the work practically.. I'm also fine where it is now, just suggesting maybe we can do all our DD sharing under one roof?
I know this is very old news as of now but for me it is the singlemost convincing reason to invest in ADXS right now.
NORTH BRUNSWICK, N.J., Nov 24, 2010 (BUSINESS WIRE) -- Advaxis, Inc., (OTCBB: ADXS), the live, attenuated Listeria monocytogenes (Listeria) immunotherapy company, has begun dosing patients in its 110 patient clinical trial of ADXS11-001 for the treatment of cervix cancer in women for whom cytotoxic treatment has failed. This follows extensive review by the office of the Drugs Controller General of India, a blue ribbon commission of scientists convened to assess Advaxis clinical protocol, and a chemical and microbiological assessment of ADXS11-001 by the Indian Central Vaccine Research Laboratory at Kasuli. The initial patient is at the Dr. Kamakshi Memorial Hospital in Chennai.
The U.S. National Cancer Institute's Gynecologic Oncology Group has conducted 16 clinical trials in over 500 patients using various therapeutic regimens in this patient population and found the most effective regimen tested resulted in a median survival of approximately 6 months and a 1 year survival of 5%. By contrast, in a phase 1 study not designed to show efficacy, ADXS11-001 demonstrate a median survival of 347 days and a one year survival of 53%.
Because of the progressive and rapidly fatal nature of cervix cancer in women for whom cytotoxic treatment has failed, the design of this trial allows for a rapid appraisal of efficacy. Advaxis intends to report the effect of ADXS11-001 on survival versus these historical values in "real time", as the trial progresses, beginning in Summer, 2011.
That, and the fact that the share structure is not out of control, they are doing a great job of managing debt so far, the CEO's shares were valued long ago at .28 ...
OK, multiple reasons to be excited about ADXS at this point in time and I have been steadily accumulating at these levels when possible. I'm not done yet.
malc
Yesterday was a very good day to get my starter position in CHRI.
In now for the long haul, looking forward to next earnings to see if they can hopefully put up another .01
I calculated my worst case scenarios of 2011 eps using all available info regarding past sales and a new diluted O/S of 159M and came up with bottom line .0265
I am hopeful that true 2011 eps will be rather .04-.06 considering the rapid growth.
Anyway, applying a very meager 5x P/E to .0265 gives us a pps of .1325 and this is why I considered .05 to be a very attractive entry indeed.
malc
Yesterday was a very good day to get my starter position in CHRI.
In now for the long haul, looking forward to next earnings to see if they can hopefully put up another .01
I calculated my worst case scenarios of 2011 eps using all available info regarding past sales and a new diluted O/S of 159M and came up with bottom line .0265
I am hopeful that true 2011 eps will be rather .04-.06 considering the rapid growth.
Anyway, applying a very meager 5x P/E to .0265 gives us a pps of .1325 and this is why I considered .05 to be a very attractive entry indeed.
malc
Ok, a Q for you other followers... WTF was CJJD thinking hiring Frazer Frost after all the scandal they were implicated in last year? Does mgmt live in the sticks of Mongolia? How could they not know this, and that they are practically inviting a short attack if their shareprice rises significantly?
The selloff on the Q was way overdone, they put out decent numbers and are expanding according to business plan so I can only attribute such a large drop in PPS to the hiring of Frazer Frost - I'm sure that triggered some serious red flags for some.
malc
Thats exactly right.
malc.
Frazer Frost.
Sorry guys, I got your name wrong. Perhaps "selective" memory syndrome lol... anyway here's a couple of old selective links for you since I'm apparently looking back into the chum bucket of bait of the shorts, and just to be on the defensive side of the future against those hack attacks by people with too much money and not enough scruples IMO... !
If you are already familiar enough with the Frazer Frost syndrome don't bother to open these links, if not, proceed with discretion...
http://china.fixyou.co.uk/2010/12/troubled-frazer-frost.html
And until the smoke clears between the bulls breath and the muddy waters Frazer is straight in the line of fire in market opinion, surely, and I never really realized it because I have not followed those other big board stocks involved seriously. Nonetheless, until exonerated, its all out there right out front for the world to see, and cast a serious doubt.
http://breakoutperformance.blogspot.com/2010/11/farce-of-small-us-auditors-in-china.html
Just answering my own damn Q's - bottom line is CJJD really could have chosen a more proper, for the time, auditor. Muddy Waters is the devil here IMO, and not neccesarilly Frazer but who knows? The real muddy waters would strike them down like a copperhead beside the creek.
malc.
ADXS. For anyone who might be interested in why Harley and I own a nice chuck of this one in our portfolios start with todays news. Pretty much sums up how I feel regarding their phase II cancer immunotherapy drugs.
malc
Mentor Capital Adds Advaxis with Trojan Horse Cancer Vaccine to Cancer Immunotherapy Index
SAN DIEGO, Feb 15, 2011 (BUSINESS WIRE) -- Mentor Capital, Inc. (OTC Markets:MNTR) reports that Advaxis, Inc. (OTCBB:ADXS) has been added as the newest member of the Mentor Capital Cancer Immunotherapy Index. As with all Index companies, a portion of Advaxis shares will be purchased and included in the Mentor Capital portfolio for tracking. Cancer Immunotherapy Index creator and Mentor Capital CEO Chester Billingsley notes that only the historic Advaxis involvement in infectious disease and allergic syndromes delayed the earlier inclusion of Advaxis into Mentor's cancer-only focused Index.
"The beauty of the Advaxis approach is that they can tag various cancer markers like Her-2 or PSA to small, common, everyday bacteria that the human body is very used to attacking. The bacteria is weakened by a factor of 10,000 and easily defeated and engulfed. This directly introduces the attached cancer antigens inside the immune system cells. That Trojan Horse approach simultaneously activates all aspects of the immune system and points it at the cancer cells that carry the marker," explains Billingsley. Following this approach, Advaxis reports it has nine distinct cancer fighting constructs in various stages of development covering cervical, breast, head & neck, and prostate cancers.
Mentor Capital created the Cancer Immunotherapy Index in July 2009. The company and its shareholders aim to provide socially responsible funding for these and other leading edge cancer therapy and development companies. The best nonprofit and university breakthroughs must be developed and tested by these exact same firms before they can be released into medical use. Advaxis Chairman/CEO Thomas A. Moore comments, "The Mentor Index has long been a prestigious cross section of the top immunotherapy companies. We at Advaxis are delighted to be part of this closely watched group of truly innovative biotech firms."
The Mentor Capital Cancer Immunotherapy Index companies include: Dendreon (NASDAQ:DNDN), Immunocellular Therapuetics, Ltd. (OTCBB:IMUC), Oncothyreon (NASDAQ:ONTY), Agenus (NASDAQ:AGEN), Biovest International (OTC Markets:BVTI), Celldex Therapeutics (NASDAQ:CLDX), Northwest Biotherapeutics (OTCBB:NWBO), Provectus Pharmaceuticals, Inc. (OTCBB:PVCT), CEL -- SCI Corp. (AMEX:CVM), Generex Biotechnology (NASDAQ:GNBT) as a proxy for its wholly owned immunotherapeutic subsidiary, Antigen Express, and Advaxis, Inc
And also this one:
Advaxis Included in the Mentor Capital Cancer Immunotherapy Index
NORTH BRUNSWICK, N.J., Feb 15, 2011 (BUSINESS WIRE) -- Advaxis, Inc., (OTCBB: ADXS), the live, attenuated Listeria monocytogenes (Lm) vaccine company, has been included in the Mentor Capital Cancer Immunotherapy Index (the "Index"), an index of companies judged noteworthy by Mentor Capital that are predominantly involved in the cancer immunotherapy sector.
Mentor Capital states that the Index is calculated and presented based upon a theoretical $1,000 investment in each CI Index company starting at the time of Index formation on July 10, 2009 with mathematical adjustments for the addition of new companies.
On Advaxis' inclusion into the Index, Mentor Capital Chairman/CEO and Founder Chester Billingsley said, "We have watched Advaxis Incorporated with positive anticipation over the last eighteen months as it increased its focus toward cancer therapy so that we could bring them into our Cancer Immunotherapy Index. As a scientist, I'm excited about including them as a strong new addition. Dr. Yvonne Paterson of the University of Pennsylvania has developed a promising immunotherapeutic platform and technology that lends itself to delivering immune triggers against a number of cancer antigens. As a natural result, Advaxis has, and we believe will continue to add, multiple drugs in clinic and collaborations with governments and leading institutions. The inherent ability to deliver against multiple cancer lines, the strong reported tumor defeating response, and the unique technology are similar to the advantages that delivered such a strong portfolio return for Mentor Capital from Dendreon (Nasdaq: DNDN) and Immuno Cellular Therapeutics (OTCBB: IMUC)."
The annualized Index return, since inception in 2009 has been 48%.
"This inclusion into the Mentor Capital Cancer Immunotherapy Index is a significant step forward for the Company," said Chairman/CEO Thomas A. Moore. "We welcome the added visibility this will bring to our strong science and broad based clinical programs."
About The Mentor Capital Immunotherapy Index
The Cancer Immunotherapy Index is an index of initially ten (10) companies known by Mentor Capital and judged to be substantially and predominantly involved in the cancer immunotherapy sector. A company that is not yet large enough or a company that is already larger but involved in mostly other things will not be included in the CI Index. Companies that grow, become more specialized in cancer immunotherapy or become better known to Mentor Capital may be added to the Index over time. For more information about the Index, please visit: http://www.mentorcapital.com/Cancer_Immunotherapy_Index.html.
About Advaxis, Inc.
Advaxis is a biotechnology company developing proprietary, live but attenuated Listeria monocytogenes (Listeria) vaccines that deliver engineered tumor antigens, which stimulate multiple, simultaneous immunological mechanisms to fight cancer. Our platform technology was developed by The University of Pennsylvania. Today, the Company has nine (9) distinct, cancer-fighting constructs in various stages of development, directly and through strategic collaborations with such recognized sites of excellence as the City of Hope, the Roswell Park Cancer Institute, the National Cancer Institute, the University of Pittsburgh, Cancer Research -- UK, the University of British Columbia and the Department of Homeland Security. Please visit the Company's portals: advaxis.com | facebook | twitter | LinkedIn
CJJD. Well, the market surely didnt like the Q. Personally, I think it way overreacted but the market is a nervous as a cat inna pit bull ring at the moment. I will be loading back up between now and the next Q, but I will readily admit, my biggest dissapointment had nothing to do with the numbers, they were fine, and if you carefully read the 10-Q there is expansion going on quite rapidly and they are executing the business plan. The thing to really NOT like about CJJD right now is that they hired Frazier and Frost to do their accounting. I posted awhile back in the auditor post I put out that CJJD was one of the stocks in our index in bad need of an auditor upgrade. Now F&F very well may be an upgrade but the market doesn't see them as such at the moment. For a big board stock to hire F&F is like inviting a hit piece short attack. Not that I agree with that, I clearly don't, and I have read Harley defend F&F before somewhere else so maybe he can chime in here on why the market frowns on them because I don't know why, I only know that I have seen others' criticism.
I have a retiree who has done very well in the markets over his lifetime call me RE: CJJD today because it is one of the stocks he follows me on. He uses me as his advisor for his "gambling" account as he puts it which BTW is about 4x my IRA lol....
In his main account he owns 36k of GM @ 33.00 (IPO)
50K of GE and 225K of Ford. Those are the ones he has told me about, I'm sure he owns a couple other blue chips for the long hold. Anyway, in the gambling account he has followed me on:
255K of TDGI @ .04
10K of GU @ 4.84
10K of IRE @ 1.61
So, today he calls me and says "Idiots!" CJJD missed analyst estimates by 2 cents and the market is dropping out! Insane, he says, the next Q is going to make up for it and then some. Great cash position, great use of cash last Q and expanding into HK and also now with liquor sales. "I bought 5k @ 3.90 today and I'm buying 5K more if it goes back down there again..."
This is just RL's perspective on today's CJJD action. I didn't point out to him the F&F danger of short attacks IMO and I will when I talk to him next just for full disclosure on my part. I believe in telling it how you see it, the good and the bad.
I will be following RL on this one, I promise. Just going to have to load up before the next Q which RL said should be in about a month because this last Q was late. I'm going to have to look into that so as to be prepared for whenever it is.
I'd love to see Frazier and Frost exonerated in the meantime. I hope mgmt knew the whole story and current distrust around them before they hired them. I was hoping for a Top 4 upgrade.
I remember seeing that F&F was auditor of something that tanked and they were implicated but I can't remember who that was. Appreciate any info on F&F and past situations from anyone who has more knowledge here than I.
malc
CJJD. On first review of the 10-Q, and I'm just on page 36 but will resume tommorrow, I tend to agree with the "not too impressive but not too shabby either" first response...
If you just look at the numbers underlying though they really do reflect an expansive business plan and I see lots of positives -
I don't think its ground breaking enough to make the market respond too drastically tommorrow but
6.8M cash on hand end of quarter, 7M cash spent thru 3Q's on expansions (and into Hong Kong market) and then they bought 100% of a pharmacy out at premium which specializes in providing an online drugstore. Hmmm, that and in december 2010 it seems they are approved to sell liquor as well which I interpret to mean alcohol infused traditional medicines, such as my best friend Lau makes for me with ginseng and ginger roots in the bottle of "tonic". As they say with all things, the devil is in the detail and I will continue to get back after it tommorrow when I have some time -
First impression is that it is another accumulate and hold at these levels but once again I'm an investor first and a trader secondly, I doubt it gets a spike but who knows in this market..
And I have little doubt 90% of people even bother to look past the basic numbers to see in the first place. What they do not see is the business plan, and this ,
Property and equipment as of December 31, 2010 and March 31, 2010 consisted of the following:
December 31,
2010
(unaudited) March 31,
2010
Leasehold improvements $ 3,449,263 $ 2,588,627
Office equipment and furniture 763,568 379,668
Motor vehicles 229,803 162,665
Total 4,442,634 3,130,960
Less: Accumulated depreciation (2,413,522 ) (1,944,668 )
Construction-in-progress 1,034,038 -
Property and equipment, net $ 3,063,150 $ 1,186,292
Construction in progress included two store locations that the Company purchased during the fourth quarter of 2010. The stores are currently under remodeling and are not in operation. No depreciation is provided for construction in progress until such time as the assets are completed and placed into service.
Looks like the devil is always in the details.
Nevermind BoC - Just went to the OTC site to get instant link to a Nasdaq company filing no problem lol.... Yahoo is a yahoo on more than one level... Going in for a look now, will let you know
malc
I agree completely oliver, but Harleyman and I resigned ourselves from this board over a month ago merely because after repeated attempts by both of us to contact Sancon's IR for just some simple clarification, our pleas fell on deaf ears.
Plain poor form by management there, and even poorer form to allow this to go to trial in the first place. Just pay the little 144K and move on, jeez. The totally alienated their US shareholder base with that move, and this is after they actually sent us shareholders a nice personal letter in the US mail for chrissakes in october 09. I'm not saying get out by any means, just explaining why some of us longs decided we had enough. Sancon's silence regarding this trivial matter is perplexing.
malc
CJJD. Ok, cmon and hit us with the A/H Q as promised Friday and yesterday as well. I'm more than ready to see some TPI style love from the market!
Congrats on the nice spike for TPI Big on China, like I said the other day, way undervalued. My old notes on it said "anything under 3 is a freakin steal" and it appears I was right but I really can't go celebrating because I never got in! Unfortunately, I cannot afford to buy everything I would like to own!
malc
ADXS is a bioplay that Harley and I are very keen on for the future. Hopefully phase II results are as promising as phase I was. Still a couple of years away from FDA approval but at .13 the price is surely right. They have just as much promise as ZLCS in my opinion but not nearly the market love - Not Yet.
This is a serious development stage company based in the US who partners with City of Hope and U. of Pitt and others in research. Phase II trials are going on as I type. The founder of the company is a former U. on Pennsylvania professor. Anyone who likes upcoming bio plays definetly needs to give this a serious look. Pretty good info at www.advaxis.com and on the ADXS board here on Ihub.
malc
Been following TPI for over a year now. Not invested there but I am in WKBT and HFGB. TPI is another one which is badly undervalued IMO.
malc
It was a most beautiful day in conway arkansas, we got eight inches of perfect white powdery snow, too bad no hills to go sledding but it was a perfect day to stay home with the kids.
If I wasnt a walking gorilla I would attach videos of staying home with the wild monkeys, aka kids age 7 and 4, like other folks do on you tube and such and then just imbed it into a post.
Next day. The eight inches of snow got driven over and crushed into a two inch thick layer of ice, which was a real bitch to drive on this morning, had to pick up some crew and also pick up materials, took me two hours instead of twenty minutes. Such is life in the south, we have one snowplow.
This world is not about money primarily to me, its way more about relationsips. Although both are important to facilitate each other...
malc
Harley, you and I have been the tag team duo in this never ending battle between us bulls vs. the bears for quite some time now.
Like I've said many times before, I'm seeing the setup of winter 08 all over again in this corner of our little space. Spring 09 made me some nice little coin, but that was after I bit, then kissed, then loaded the bullets and pulled the trigger first.
To paraphrase Buffet, "Buy when there is blood in the streets"
I don't think anything could sum up our current situation any better than that here in small cap China. I loaded heavy the last time the market was in this kind of panic and I'm doing it again now. If one doesn't have the stones for this kind of investment strategy then buy municipal bonds and such like my father, also named pappy by the grandkids though, and be happy with your 5% returns. You cannot have it both ways. Either you take calculated gambles or you settle for the safe protection and slow growth of overall wealth.
That said I've loaded more GU and CSGJ this week at these levels. Not that they wont go down even more, but I'm not of the "target the absolute bottom" type investor as I focus more on "where will this stock be in a year?" kind of investor.
I focus on up and comers and the badly beaten... glutton for punishment I guess lol...
And for anyone reading this post keep an eye on TDGI tommorrow and next week, good things are brewing IMO and it could break at any given moment. I know its the kind of stock that is pumped on Ihub and frowned upon as one of those kind of stocks but if I wasn't at the shareholders meeting myself and didn't buy into after finding it here in Arkansas first, irregardless of Ihub, I would be quite skeptical of it. I have a nice chunk and I am comfortable in this US growth position at this point.
malc
I had been looking thru everything for 2 days and watching the action on the sidelines before I posted anything last night.
There are a ton of unknowns at this point but I'm going with the strength and track record of mgmt primarily on this one. When the merger is finalized and Power3 has its "birth" so to speak things are bound to get real interesting.
That, and I really couldn't see much downside potential at this level so I feel that the risk/reward scenario is pretty high.
malc
OK gang. I'm in today 5K at .155
After as much DD as can be done at this juncture I decided to go ahead and pull the trigger.
If nothing else it's due for a major technical bounce on the announcement of a successful merger with Seawind.
malc
Uhhh, yeah....
Ok, Seawind International (private) has how many shares in issuance? How many shares out of the 200M A/S prior to merger as noted in 8-K does Power3 anticipate issuing to Seawind?
That, and more importantly for valuation sake, what are the tangible assets of Seawind? I'm sure some of you have guesses and some links would be even better. From what I've read it all hinges upon the review of the audited 2010 financials, which I hope shareholders will get a look at if the deal follows through, and I was looking for some of the data on Seawind RE: assets, earnings and share structure if anyone has already found this out.
malc
Thanks alot. Makes sense that things have been on hold until PSPW and Seawind finalize their merger, and I missed the buying occuring in increments, that makes more sense to me instead of ponying up all that cash for a yet unproven renewable energy venture, no matter who is onboard PSPW mgmt. And yes, I was quite stricken by the agreed PPS to purchase shares of PSPW, soon to be Power3, and at the exchange rate between the euro and US dollar that will still be around $10/share. I did note a bonus clause in the 10-Q that if Bangkok exercises all options available to them they will recieve approx. a 15% discount on those shares but still, substantial deal for PSPW.
Moving on then, I noticed from the 8-K filing on Feb 2 PSPW intends to increase A/S from approx 40.1M to 200M just prior to the merger with Seawind. Seawind will get equal shares as Rudana, so I'm a bit confused where they are coming up with the number of 200M to increase the A/S to. Rudana owns approx 70% of PSPW with 27.7M shares. I could see increasing the A/S 200M to allow for future acquisitions or to raise capital for projects, or will Seawind recieve more than 27.7M shares? Can someone clarify on this aspect of the merger for me? Again, TIA
malc
Item 1.01 Entry into a Material Definitive Agreement.
On January 24, 2011, Prime Sun Power Inc. (“PSP”) entered into a Term Sheet (the “Term Sheet”) with Seawind International Ltd., (“Seawind” and together with PSP, the “Parties”). Subject to the terms and conditions set forth in the Term Sheet, PSP shall acquire Seawind (such transaction is referred to herein as the “Acquisition”). The target closing date for the Acquisition is February 25, 2011. The Parties have agreed that after the closing of the Acquisition, PSP will change its name to “3Power Energy Group Inc.” Following the closing of the Acquisition, 3Power Energy Group Inc. expects to shift its executive offices to Plymouth and London, United Kingdom.
For purposes of consummating the Acquisition, PSP shall increase its authorized share capital to 200,000,000 shares prior to issuing shares in exchange for the interests of Seawind. Rudana Investment Group AG (“Rudana”), the majority shareholder of PSP, shall, prior to the closing of the Acquisition, contribute into the new PSP structure certain Hydro power projects described in the Term Sheet. At the closing of the Acquisition, Seawind shall tender all of the issued and outstanding shares of Seawind to PSP, and PSP shall issue to the owners of Seawind shares equal in amount to the number of shares owned by Rudana.
The Parties have agreed to utilize their best efforts to facilitate initial financing and fund-raising by 3Power Energy Group Inc., up to the amount of Fifty Million U.S. Dollars ($50,000,000). The proceeds of such financing shall be allocated by 3Power Energy Group Inc. among solar, hydro and wind projects.
Following the closing of the Acquisition, the Board of Directors of 3Power Energy Group Inc. shall consist of five directors, with two Directors to be nominated by each of Rudana and Seawind, and a fifth director to be nominated by Rudana subject to acceptance by Seawind.
PSP and Seawind will use commercially reasonable efforts to complete a mutually agreeable definitive Acquisition agreement containing customary representations, warranties, covenants and ancillary agreements as soon as reasonably possible. Rudana and the Seawind principals also intend to enter into a shareholders agreement. The closing of the Acquisition will also be subject to completion of satisfactory legal due diligence and completion of the 2010 audit of the Seawind financial statements.
Just discovered this potential diamond in the rough a few days ago and trying desperately to catch up on my DD here. This is not exactly the easiest stock to get a grip on at the current moment.
Q for the board who have much more knowledge than me. How much stake in Bangkok Solar Power did PSPW acquire if any? I read the definitive agreements outlined but was anything finalized? And was Bangkok Solar swapping shares into PSPW for the equivalent of around 6.00 Euro or was PSPW supposed to buy into their company at that price?
Sorry I'm not better informed, there is alot of info regarding this complex situation to digest. TIA
malc
Back in today.
malc
A truckload of firewood sold in Dallas does quite well in my experience if hauling it down from Arkansas and finding a parking lot where they are willing to take 200 cash to let you set up shop and sell it out of there in my experience.
Pittsburgh people are the most hard scrabble, hard working and honest people you will find in the world.
Not knocking Green Bay, I'm glad we have a worthy adversary in the superbowl after taking out Seattle and Arizona, who brought a much better game than I expected but then again they got our boy Wisenhunt, in the last 2 attempts to beat the Steelers in the game of the only games to be remembered.
I'm going all out here and the superbowl food fare is well is preped for tommorrow, marinating a brisket all day today from the organic cow we killed December 2nd and let it hang for 20 days, I got alot of Steeler fans from all over arkansas coming over tommorrow and they are going to be once again treated to a feast of epic lure.
Steelers win by one point. Its going to be one hella battle.
malc
AGVO. I must be smoking the pipe to try and figure out what is going on with this attempt to uplist straight to the NasdaqGM when they have barely traded at all on the pinks. That, and the fact that it is another R/M when that is damn near tantamount to playing russian roulette considering the current market sentiment towards listing in the US via this method. That said, the whole space is inna funk right now no matter how you came public or who was behind it. Take MY for example, a perfectly good company with KPMG auditing brought public via IPO in September. Just a very unfortunate time to go public IMO, bad luck for them so to say, but I think the next 10Q solves that. The backlog order for their turbines is insane at this point. Every unit for the next 2 years is already pre-sold.
I will try to contact AGVO next week and ask them in person my multitude of questions and go from there, but I don't expect to get any answers or contact at all but no harm in trying...
CCCFF. Ok, the wife basically forced me to clean up my desk in preparation for tommorrows superbowl party, but I really think she just used that as an excuse to get me to tidy up what has been bugging her for years now. So I'm going thru the googol of notes on stocks and I find one on this company, which is a producer of cultivated ginseng in Canada financed by HK and subsequently sells most of their product in China. I didn't buy then as they were sub penny and pretty deep in debt and also putting out negative numbers. But here I stumble upon and do some more DD 2 years later and it seems they have paid down a substantial amount of debt, have cash on hand, a positive eps of .01 last Q and the stock is trading for .04
Now being an organic farmer in the past I know a little about farming ginseng. I used to live in the mountains on our own organic farm and knew a ginseng farmer who did quite well with his little venture. Anyway, it has definetly peaked my interest again and I guess something good came of cleaning up a bit.
DC Dude, I think this play is right up your alley. I emailed their IR today with a couple of Q's I had and I'll get back to the board if I get a response. If any of you guys would like to give it a look as well I would appreciate it and here's the link to their latest filing.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7580163
And here is one of the things from the report that I copied and pasted over to IR and asked for clarification about. Ginseng, once planted, takes a minimum of 3 years to harvest and for better quality roots you wait much longer. They mention several times in the filing that they have not started any new farms for a few years, and I'm assuming that they aren't wishing themselves out of business and replanting the farms they have already cultivated in preparation for another harvest 5 years or so later. That's how the wild ginseng hunters do it around here in the mountains of arkansas, you harvest mature roots in september/october AFTER you carefully harvest the seeds to replace in the area after you dig up the small plants and roots and now they GPS the area to come back years later. Again, I'm assuming these references mean that they are satisfied with the acreage they already have devoted to ginseng production, being as these are very costly upfront expenses that have hampered any visible earnings in the past. Still, I didn't see any mention of ensuring raw ginseng production for the future and this might implicate that they intend to just harvest what is already in production and pack up shop.
Chai-Na-Ta Corp. is one of the world’s largest suppliers of North American ginseng and is headquartered in Richmond, British Columbia, Canada, with farming operations in Ontario. The Company completed the termination of its farming operations in British Columbia in 2009 after the last ginseng crops were harvested in 2008. The Company continues to maintain and harvest its ginseng crops in Ontario but has not planted ginseng crops since 2008 and currently has no plans to plant additional crops. The Company’s wholly owned subsidiary in Hong Kong is responsible for the marketing and distribution of its products in China, Hong Kong and Southeast Asia. The Company also sells graded root and ginseng-based value-added products in Canada
This is also mentioned once again in the end of the filing with no further clarification.
OUTLOOK
In the short-term, the Company will focus its attention on its farming operations to maximize the yield and quality of roots while it continues to maintain and harvest ginseng crops in Ontario. The Company decided not to plant new crops in Ontario in 2009 and 2010 and currently has no plans to plant ginseng in the future.
ADDITIONAL INFORMATION
Additional information with respect to the Company is available on the SEDAR website at www.sedar.com
Just sharing what I was getting into today besides superbowl prep to ensure the Steelers show up. Don't have any illusions of grandeur here either, just a hardcore value hunter. And lesson number one as such is - If something is really cheap then there is probably a reason for that.
malc
OT: HERE WE GO STEELERS, China's number one favorite US football team !!! Here's the link:
http:/chinastocksreboundsmashmouthwithsteelersvictory.com//
malc
Thanks for the detailed info Mike. I also was in a few years back if you remember and rode it from sub .50 to around 1.50 and got out on news of dilution.
Been watching it ever since but not nearly as closely as yourself. I'm a Uniontown PA native and will visit the facility in person next summer when we come to visit my family there. I'll be looking to establish another position in my IRA next week and wait it out. My biggest concern was that new technology might somehow crush lead batteries for good but keeping up with Peterson and crew has me pretty much convinced that lead batteries arent going anywhere, and the increased performance and lifespan with AXPW's technology should find wide market appeal when they finally get the finished products available to a wide range of uses from conventional cars, to hybrid cars, to fully electric vehicles and of course, wind and solar power energy storage needs.
Keep us posted,
malc
Mike - I'm still sitting on the sidelines here watching closely to see if their batteries will ever find market acceptance. Do you know what drove yesterday's spike in volume and price? I havent been able to find anything that could have caused this sudden interest....
Thanks, malc
Agreed. Its just been unfairly suffering along with the whole sector in general. Accumulation time IMO if you are a believer in the "buy when you hear the cannons, sell when you hear the choir" philosophy.
A great move by CPQQ, and I really like it as well here at 1.35
With the upgrade in auditor it is back on the radar to stay and I will be trying to free up some funds from somewhere to take a starter position, problem is, in the current way depressed china market it's like Peter robbing Paul to trim one or more depressed positions to add another.
Regardless, I really like the company and have for sometime now, and I don't think a return to the 4 dollar levels is unreasonable even with a modest market correction.
malc