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"WIN" files for chap 11 BK. Oh well I knew that could happen when you invest in the high risk loss or high reward plays. Walk
"WIN" I think there is good money to be made on this stock and just don't know if it might take a hit again today before it bounces upward. This is a real gamble, but sometimes the gamble pays off and sometimes it doesn't. I don't see the company going BK in the near future and the stock has been beat up so bad something will give in the next day or two one way or the other. Keep it on your radarm screen, because there should be some action and the buying side should tell the story soon enough. I took a position FRI as I posted and am playing it for a short term bounce upward of over the $2.00 range, but I consider it as a high stakes gamble play and I could lose the investment also. Walk
Wise: I am not in that one right now. Sold it a while back. Wish I was instead of FMDAY the way it is going. Looks like my hot streak is starting to come to an end for the time being. It also looks as though I am going to be in a holding pattern for several months to come on many of my plays that I have. I have a ton tied up and am not putting anymore in the market. When something reaches my sell point, then I will buy something else, but until then NADA. "Win" was my last buy for now. GLTY, Walk
I am really trying to roll the dice this week. I just picked up 10k shares of WIN at $1.55 and hope it ends up making me money down the road. It is really in a tail spin and this could backfire on me very quickly. Walk
Sorry It filled at .57 not .56. Walk
I just picked up anther 5k shares of FMDAY at .56 to hold with the rest of my now over priced shares. Long term hold for me on this play for sure. I am probably looking at several quarters before I see any real results in the PPS due to the delayed revs expected with new contracts. Oh well thats life in the market. The good part is that I will now take some time off on a daily bases and wait for all my positions to improve on all my stocks, if and when that happens. Have fun trading, because it is getting harder to make the money on a daily bases and I am not putting anymore $$$$ in the market right now period. GLTA, Walk
Well I took a bath on paper today with FMDAY. I was holding 20k shares for a long term play. I picked up another 5k today at .64 for a short time play. Looks like I will be holding the 20k for a while before I see any real results in a spike upward on that original position. Dang, Walk
Secure: I consider that I was lucky and nothing more. One of those gut feelings and not wanting to take a chance on the unknown in this market of today. With good profits sitting on the table for the taking, then is is probably good advice to take them when one can, because they may not be there tomorrow. Best regards, Walk
Another news release on KKD after the bell. Walk Big job cuts set at Krispy Kreme
February 08, 2005 17:29:04 (ET)
NEW YORK (MarketWatch) - Teetering doughnut chain Krispy Kreme will show 25 percent of its employees the door in an effort to save about $7.4 million a year, the company said Tuesday.
Krispy Kreme (KKD, Trade) shares were halted in after-hours trading. It closed the regular session flat at $7.94.
The job cuts are across the board, affecting people in corporate, mix plant, equipment manufacturing and distribution facilities. The company will take a cash charge of $600,000 in the first fiscal quarter.
Krispy Kreme also said it has given up its corporate plane, which will save $3 million but involve a cash charge of approximately $300,000. The company also warned it remains in serious financial peril, saying it is unable to borrow money.
"Cash from operations continues to be impacted adversely by previously disclosed unfavorable sales trends, and by the substantial costs and expenses associated with ongoing litigation, regulatory and restructuring matters," the company said in a press release.
Krispy Kreme currently has a waiver until March 25 to deliver financial statements or face default, but believes it will need additional credit by that time to fund its operations and required capital expenditures.
The company added: "There can be no assurance that the Company will be able to reach any agreement with the banks or that funding will be available when and in the amounts needed."
For late-breaking market news you can't afford to
day after the bell:
RE KKD: I guess I made the right choice in selling KKD when I did. This news hit the wire after the bell yesterday. I guess the theory of taking your profit off the table when you can, due to not knowing what tomorrow may bring in the market is just good sound advice. Walk
LOS ANGELES, Feb 8 (Reuters) - Struggling doughnut chain Krispy Kreme Doughnuts Inc. (KKD,Trade) said on Tuesday it is slashing 25 percent of its staff outside retail outlets and needs to secure new funding by the end of March.
Last month, Krispy Kreme averted defaulting on a $150 million credit facility after its lenders agreed to give it until March 25 to prepare its financial statements.
By the end of that period, Krispy Kreme said in a statement, it will need additional credit but said there can be no assurance that it will be able to reach an agreement with its banks or that it will be able to receive such funding.
The Winston-Salem, North Carolina company is in the process of restating its 2004 financials due to errors in the way it accounted for repurchases of franchises and therefore has been unable to file its most recent result with the U.S. Securities and Exchange Commission.
Krispy Kreme also said it is cutting 25 percent of the jobs in its corporate, mix plant, equipment manufacturing and distribution facilities to save $7.4 million a year.
It was not immediately clear how many employees would be affected by the move, which will result in a restructuring charge of $600,000 in the company's fiscal first quarter.
Krispy Kreme also said it recently sold a corporate airplane, a move that will save about $3 million a year. The company will take a first-quarter charge of $300,000, before taxes, for the sale.
© Copyright 2001 Reuters. Click Here for Limitations and Restrictions on Use.
Well E-trade placed the 90 day rule on me today for flipping stocks too fast according to the regs. Now I can take a few days off and wait for my money to return and won't be able to flip and buy as easy for the next 90 days. Man the rules are one sided in this market for sure. Walk
Secure: Thanks and I just sold KKD for $8.15 for a handsome profit. Not going to leave that much profit on the table with out taking it off. Too many things can happen in todays market to change the outcome. I will take the $3,320 for a 2 day play anytime I can get it and consider myself lucky. Best regards, Walk
Wish me luck on this one for sure. I picked up 4k shares of KKD at $7.32 and will have to see if I made the right choice or not. Panic has set in for the last several weeks, so it has to find a bottom and I hope it did today. Walk
Chuck: Our PPHM is starting to show some promise for a change. I held and almost sold at $1.00 last week, but was already down .10 on my position, so decided to risk a little more and changed my stop to .95. I thought last week the the mm's would try and steal them, because the pps was getting so close to my stop. At least now I am on the plus side of that one , but down on Fmday and some more at the present time. Oh well maybe they will all be green one day again. Gl, Walk
Is there a stock Doctor in the house?? I don't know about anyone else here, but my portfolio has been bleeding blood red for several weeks now. I make a few k here and there on my flippers, but the long term stocks keep on bleeding out, as to where they are in dire need of a transfusion of green blood very soon. Thanks to "Dsertrat" I made a couple of k on MSEP, but that is the only highlight for me this week period. I sure hope tomorrow and next week is not the same all over again, because I will need to re-fill my perscription for valium and double up the dose before I turn on the computer. Someone please tell me they have the same stock illness so as to where I don't feel alone with my very sick portfolio. W--a-----l------k
I now have 25k of FMDAY. Didn't think it would drop any further ,but when it did, then I added to my collection of shares. I sure hope they come out with good news that will be pop this baby over $1.25+ in the near future. BOL, Walk
Wise: I got the rest of my shares filled on Fmday at .78. I hope that is a good sign and it starts to gap up again, because I don't like the color red in my portfolio and there is plenty of that color there the last several weeks. Best regards, Walk
Starting to get the rest of my FMDAY shares from yesterdays order filled at .78. They gave me 1,919-100-100 and still owe me 4,881. I am hoping to get them filled before close. Once I get my 20k shares, then I want it to start slowly going upward. Walk
Thanks Wise, I sure hope so. I wished they had filled me, but am satisfied with the shares they gave me yesterday. I am also sitting on 7500 shares of PPHM at $1.10 and will have to wait on that one now, but have a stop in a $1.00 just in case. This market has no direction and I didn't like the way it started out for the first 5 days of 05 for the rest of my holdings. That is not normally a good sign for the year, but life and speculation must go on I guess. Best regards, Walk
Well they gave me 13k of FMDAY out of the 20k I placed this morning for .78 and it never went back down for the rest. Looks like it was hard for them to fill my order. I do think it was at the bottom at .77 , but then again I thought that before. JMO, Walk
Have an order in for 20k FMDAY at .78 and it is getting filled little by little. Seems to be support at .77. Will try and get my full order in before afternoon. Walk
Will this one have a dead cat bounce after the shareholders find out what happen today to their stock in this company???? The news came out after close. I am going to watch it fall tomorrow and see what happens. Got to be careful with this one for sure. Walk
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Related Quotes
Sym. Price Chg.
ULTEE Trade
News 1.3 -0.02
Ultimate Electronics to Restructure Operations Under Chapter 11
January 11, 2005 16:19:56 (ET)
DENVER, Jan 11, 2005 /PRNewswire-FirstCall via COMTEX/ -- Ultimate Electronics, Inc. (ULTEE, Trade) today announced that in order to provide it with the necessary time to complete an operational and financial restructuring, it has voluntarily filed to reorganize under Chapter 11 of the U.S. Bankruptcy Code. Concurrently, the Company announced that it has entered into a Stock Purchase Agreement with Mark Wattles Enterprises, LLC ("Wattles") to purchase 6.85 million shares of Company common stock for $4.4 million and a two-year Option Agreement with Wattles to purchase 1.85 million shares of Company common stock for $1.2 million. The Company announced that it has received a commitment for up to $113 million in debtor-in-possession from Wells Fargo Retail Finance and $5.6 million in debtor-in-possession financing from Wattles.
The Company said today's filing in U.S. Bankruptcy Court for the District of Delaware will allow it to continue business operations while the Company works with Mr. Wattles to formulate the restructuring plan. The post-petition financing, which is subject to Bankruptcy Court approval, is expected to provide the Company with funding to support its post-petition trade and employee obligations, as well as the Company's ongoing operating needs during the restructuring process.
In addition, in support of the transaction, the Company's founder and Chairman of the Board, William J. Pearse, has entered into a two-year Option Agreement to sell 1.8 million shares of Company common stock to Wattles with an exercise price of the lower of $.65 or the average closing stock price for the five-day period preceding the date of exercise and a Voting Agreement to allow Wattles to vote the shares that are subject to the option. Various Pearse family trusts have also entered into a Voting Agreement with respect to their shares of Company common stock to allow Wattles to vote their shares. Pursuant to the terms of the Stock Purchase Agreement, all of the Company's directors, including Mr. Pearse, have resigned from the Company's Board of Directors effective as of the closing of the transaction, which occurred earlier today, and Mark J. Wattles has been named the Chairman of the Board.
"After weighing all available alternatives, we believe this is the best solution for Ultimate to remain a viable business going forward," said Dave Workman, Ultimate Electronics' President and Chief Executive Officer. "We welcome the significant retail experience and resources that Mr. Wattles brings to our current situation. We look forward to working with him as we position the company for future profitability."
"As a retailer, I've always admired the Ultimate Electronics and Soundtrack chains," said Mark J. Wattles, the Company's new Chairman of the Board. "I'm excited to be part of this company's future and am committed to seeing it return to the growth company it was."
In conjunction with today's filing, the Company filed a variety of "first day motions" to support its employees, vendors, customers and other stakeholders; to obtain interim financing authority and maintain existing cash management programs; to retain legal, financial and other professionals; to support the company's reorganization case; and for other relief. The Company expects that during the restructuring process, vendors, suppliers and other business partners will be paid under normal terms for goods and services provided during the reorganization.
During this process, the Company expects to continue to provide the same high-quality goods and services as it has in the past. All stores are currently open and serving customers. In its first day motions, the Company has requested authority from the Bankruptcy Court to continue to honor its customer service policies, such as returns, exchanges, credits and layaway programs at each store location. Further, the Company has requested authority from the Bankruptcy Court to continue to pay employee wages and salaries, to offer the same medical, dental, life insurance, disability and other benefits and to accrue vacation time without interruption.
Additional information on today's announcement is available on the Company's website at www.ultimatelectronics.com. Details regarding the filing can be found at www.deb.uscourts.gov or www.kccllc.net/ultimate.
Safe Harbor Statement
Certain statements made in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based upon management's current expectations and beliefs concerning future developments and their potential effects upon the Company. These forward-looking statements include statements regarding the Company's expectations concerning the bankruptcy process and the continuation of its day to day operations and payments to vendors and employees in the ordinary course. Actual results may differ materially from those included in the forward-looking statements due to a number of factors, including, but not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to obtain approval of the DIP facility; court approval of the Company's first day papers and other motions prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a Chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain trade credit, and shipments and terms with vendors and service providers for current orders; the Company's ability to maintain contracts that are critical to its operations; potential adverse developments with respect to the Company's liquidity or results of operations; the ability to fund and execute its business plan; the ability to attract, retain and compensate key executives and associates; the ability of the Company to attract and retain customers; and other risk factors identified in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2004, the Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 2004 and other filings with the Securities and Exchange Commission. There can be no assurance that future developments affecting the Company will be those anticipated by management. The Company disclaims any obligation to update or revise any of the forward-looking statements that are in this news release.
About Ultimate Electronics, Inc. (ULTEE, Trade)
Ultimate Electronics is a leading specialty retailer of home entertainment and consumer electronics products in 14 states. The Company operates 65 stores, including 54 stores in Arizona, Idaho, Illinois, Iowa, Kansas, Minnesota, Missouri, Nevada, New Mexico, Oklahoma, South Dakota, Texas and Utah under the trade name Ultimate Electronics(R) and 11 stores in Colorado under the trade name SoundTrack(R). In addition, the Company operates Fast Trak Inc., an independent electronics repair company and a wholly owned subsidiary of Ultimate Electronics.
Wise: Ride the Harley and wait for the funds to return on the 3 day rule. Have most of the rest all tied up. Had a good month in less than 30 minutes of trading this morning on that play. I sure wish I could find more of those with that kind of volume, buying presure and the PPS movement as to where I was able to double dip that quick. When I saw several million shares being traded in pre-market, I thought I would be in good shape for an in and out, but it surpassed my expectations in a matter of minutes on both trades. Best regards, Walk
Out at $2.92 for the second trade before it takes a downward mode. I will take the rest of the week off now, bcause they will hold my money for 3 days. Walk
Rolling the dice again at $2.80 and put another sell in at $2.99 and will hold the button to sell, if it starts to drop. It is in a frency trade mode right now. Walk
That was quick. Put a sell in at $2.99 and it already sold. Wish I could have one of those every week. Walk
I took a position in ASTM pre=market for a day play at $2.68. Walk
OT:SS: Did you get the e-mail with the pics of the deer I sent you this morning @ lycos.com? Walk
OT,SS: You give me way too much credit pertaining to trading. I have made and lost money in the market for many years now. I had enough wisdom and savy to guess the crash in Oct of 88 and saved a lot of money that I would have lost otherwise. I made a lot in the 90's and tried to guess the downfall again, due to I thought the bubble would burst. Well after sitting on the sidelines for 6 months and everyone that I knew was still making money in the market, I jumpped back in slowly. After several months of testing the waters some more, I thought maybe I was wrong this time. Something told me to stay out, but the gambler in me jumpped in with both feet. It cost me well over a half a mil, before I could stop the bleeding. I then went back to trading on my gut and the good basics of trading again, most of the time. I have been very lucky the last 4 years on most of my picks and others as to where there have been more gains by far than losses. I would have done even better, but human greed has stepped in the way several times. After trading for over 30 years, I still learn something almost every week. There aren't many things that surprize me anymore in the field of trading in stocks. We have to contend with crooked CEO's, MM's, cooked books,false PR's and still we call this game investing. To me it is pure and simple gambling no matter what stakes you play with. We try our best to get an edge up to make some money against the heavy odds of Wall Street. Unless you have an inside sourse of info, then we are last to receive it and do the best we can at that time. I have learned to go with the punches and not carry the stress I used to, whether I make money or lose some on any play. I also try not to live on the computer day in and day out trading stocks. The last several years has taught me to try and have some fun trading, because I know there will be good days and bad and that is the nature of the beast plain and simple. If you stay trading stocks, then it is no different than life itself. There will be peaks, plateau's, valley's and deep valley's to contend with. I try my best to stay within the area of the plateau's by using percentages in my favor that are available in life as well as trading to all of us. I am going to try and make 2005 a good year with the tools that I have and try and learn more along the way. GL and best regards, Walk
I want to wish everyone here a Happy New Year and may you trading skills reap mega profits in 2005.
OT: SS you have mail, Walk
SS: I am glad you made some money on Pars today. I remember you are an animal lover also, so I tried to paste a pic of my new pet deer, but the pic wouldn't take on this site. She is one of the gentlest creatures that God ever created. Her species dates back over 1500 million years ago. She will only get 16in high and weigh only 20 lb full grown. She looks just like a white tail deer, but very miniture in size. I bought her a couple of months ago and the wife and I are in love with this little creature. She has her own fenced in area around the pool and comes in to visit around twice a week for a couple of hours. If we let her in anymore than that she would want to move in the house, so we have to limit her time. I remember having seen your e-mail somewhere along the way, but don't know how long ago it was, otherwise I would have sent you a pic of her. Take care and best regards, Walk
SS: Sold the other 10k shares of Pars today for $1.60 and bought them back at $1.42. It has been good to me the last several days and hope it was for you also. Walk
SS: I sold 10k Pars which was 50% at $1.42 and holding the other 10k to see what happens this afternoon and tomorrow. If it holds up fairly well, then will Hold the $1.15 position in hopes of seeing $1.50 to $1.75 by the first 2 weeks of Jan. Had too much invested to not take profits on at least the $1.18 position. GL, Walk
SS: Nice run on PARS this morning, up .25 from when I posted yesterday. GL, Walk
SS: Re; Pars, I took the other 50% position at $1.18. It is a spec play for me, but I think there is way too much volume for it to stay at this low PPS for very long. JMO, GL Walk.
I am taking a position in PARS this morning at 1.15 and am going to see what it does the next couple of weeks. It should move upward, but still hard to tell yet. Walk
SS: Very good post my friend and back at you. Walk
MERRY CHRISTMAS to all and I hope everyone enjoys the holidays. Walk
I picked up 10k shares of DYTK this morning for .5650 on a spec play. I don't expect it to move right away, but the company does seem to be moving forward with business and not concerned about the delisting. They were delisted, due to an insider selling some shares in 03 without the proper papper work going to the sec. Here is the latest news out on the company and situation. Keep it on your radar. This is not a buy post, but to keep an eye on it in the future. Walk
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DynTek`s Securities Expected to Trade on NASD OTC
December 16, 2004 17:15:00 (ET)
IRVINE, Calif., Dec 16, 2004 /PRNewswire-FirstCall via COMTEX/ -- DynTek, Inc. (DYTK, Trade)(DYTK, Trade)(DYTK, Trade), a leading provider of professional technology services and IT security solutions, today announced that it has decided to voluntarily delist its securities from the Nasdaq SmallCap Market and to move to the NASD OTC Bulletin Board. The Company arrived at this decision subsequent to receipt of a deficiency letter from the Staff of the Nasdaq Stock Market, which stated that the Staff believes the Company did not comply with shareholder approval requirements in Marketplace Rule 4350(i)(1)(D)(i) with respect to certain sales of the Company's securities in 2003, including sales of the Company's shares by a former major shareholder over which the Company had no control.
"DynTek continues to believe that the Company acted in compliance with the Nasdaq shareholder approval requirements in the Marketplace Rule," stated Steve Ross, DynTek's chief executive officer. "However, the Staff has indicated that it does not agree with the Company's position, and we believe that the ongoing costs, distractions and uncertainties of a lengthy process to maintain the SmallCap listing are not warranted at this time. Such uncertainty does not benefit our shareholders, especially at a time when we are making significant progress on many business fronts. We feel that our stakeholders would be better served by channeling our resources into efforts that will accelerate the profitable growth of our company."
"With respect to such growth, we are tracking ahead of our $20 million revenue target for the current quarter ending December 31, 2004," Ross continued. "This would represent a 104% increase over the Company's revenues of $9.8 million from the same quarter last year, and a 43% increase in revenues from our most recent quarter ended September 30, 2004. We believe that the Company is on track to reach our previously announced targets of $100 million in revenues and profitability for calendar 2005. There should be no significant diminution in liquidity on the OTC Bulletin Board or a reduction in access to information by shareholders. We will continue to focus on building our business, meeting our targets, and perhaps later seek listing on the American Stock Exchange or Nasdaq National Market System, rather than going through a lengthy, expensive and uncertain process to maintain the SmallCap listing at this time."
DynTek's common stock, Series A Preferred Stock and Class A Warrants are expected to trade under the symbol DYTK on the OTC Bulletin Board, effective on or about December 20, 2004.
About DynTek
DynTek is a leading provider of professional technology services to government, education and mid-market commercial customers in the largest IT markets nationwide. The company provides solutions that address the critical business needs of organizations today, such as IT security, voice and data convergence (VOIP), enterprise access and technology management. Our practice areas incorporate an approach and methodology derived from more than 18 years of experience in the assessment, design, implementation, management and support of technology solutions. For more information, visit www.dyntek.com.
IRVINE, Calif., Dec 17, 2004 /PRNewswire-FirstCall via COMTEX/ -- DynTek, Inc. (DYTK, Trade)(DYTK, Trade)(DYTK, Trade), a leading provider of professional technology services and IT security solutions, today announced that it anticipates exceeding $20 million in revenues for the current quarter ending December 31, 2004, which would represent more than twice the revenues the company reported from the same period in the prior year.
"We are particularly pleased with the growth of our commercial business in the Western Region, which has been fueled by the recent acquisitions of Redrock Communications and Integration Technologies," said Steve Ross, DynTek's chief executive officer. "This new business, together with organic growth in other regions from state and local government clients, will enable the company to exceed $20 million in revenues for the current quarter ending December 31, 2004. This represents a 104% increase over the company's revenues of $9.8 million from the same quarter last year, and a 43% increase in revenues from our most recent quarter ended September 30, 2004."
"Based on these results and additional cross-selling synergies we are starting to see from our recent acquisitions, we believe the company is on track to meet its previously announced goal of $100 million in revenue and profitability in calendar 2005," Ross continued. "The December quarter has historically been a lower performing quarter, and we are pleased with results that indicate we are on track to exceed our targets."
Major commercial business wins in the Western Region thus far in December include the following:
* A Fortune 500 wireless communications provider selected DynTek to
provide several hundred thousand dollars in security solutions.
* Two major utilities selected DynTek to provide a broad range of
security solutions valued at more than one quarter million dollars.
* A leading supplier of defense electronics systems awarded DynTek a
$300,000 contract for advanced network infrastructure, voice-over-IP
technologies and professional services.
* A landmark casino in Las Vegas, Nevada, awarded DynTek a hundred
thousand dollar contract for advanced network infrastructure and
professional services.
"DynTek has extensive expertise in the primary segments that are driving IT demand -- voice-over-IP, security and access," continued Ross, "and we continue to win significant business in these segments -- particularly in the Western Region. We are also starting to benefit from the positive impact of providing additional, multi-disciplinary services for existing clients in other areas of the country. As we continue to provide successful solutions for our customers, we believe that positive financial trends will continue, and shareholder value will increase