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Wonder whether this mornings price action is a reflection how well VTSS presentation at the Needham Conference went?!?
GLTA
Did I miss anything?!?
Thanks for this succinct review of the current state of affairs at this company. Though there are some unknowns as you mentioned I still believe in their story.
I do not currently hold a position but have had a sizable one not long ago but needed the money for other things.
I will consider investing again if the next quarterly holds up.
You earned a member mark with this :)
Cheers, Klaus
BRIG_88
I think it makes perfect sense though disappointing for any current shareholder. What I read out of this is the realization that they do not need to go to the capital market to finance their expansion plans anytime in the near to mid term future or even further. So what are the advantages to have shares listed at an expensive exchange? None - as there are only obligations with no feasible gain for the company. The only one really loosing big time (on a large scale) on this is the majority share holder and if he thinks he is better off building the company within its own confines that should tell you something. I think he really sees the expenses associated with being listed here in the US as a waste and being put to better use (w/r/t ROI) by accelerating paying for the land and pulling in the schedule for the next mill.
This could also mean (and that, of course, is pure speculation on my part, just like the above reasoning) that the technical difficulties have finally been mastered and therefore it is a guaranteed revenue/income stream with good margin to help with the expansion and pulling it in now that technical problems have been solved successfully (again speculation at this point) allows for further growth as it's not questionable anymore whether they would operate the new mill under difficulties, as it would make no sense to actually start that mill if the problems are still hampering the profits and you don't want to spend extra money while having to solve them in two locations at the same time.
All this makes sense to me and is consistent with some of the reasons listed in the PR. Is there a possibility that there is something "fishy" going on? Sure, there always is as long as we don't know the facts, but this makes far more sense to me for all we know about the CEO in charge as his main interest always was the healthy growth of the company and not the best interest of us shareholders.
This does not make it any more pleasant but is another spin on the event before us that has just as much merit as your speculations and we will have to see how the market reacts in the morning.
I have sold out a while ago for different reasons (needed the cash) as I still do believe in the company and was thinking about buying back in at these levels but now will hold off to see how the trading develops and what tools will be available.
Keep in mind that they still plan on reporting on an informal but audited (at least the yearly financials just like they do now) basis, nevertheless, on their web page.
Sorry for the lengthy comment...
Cheers
mimurray -
but you can burn MP3s on CDs to squeeze more music onto CDs and most CD players in cars these days support MP3 format natively
Massive buying since 2pm....
anyone having a clue what is going on?
NEP: Still on a trading halt with T1 status as of now - no change since yesterday
Quote: (link below)
Word from Alloy Steel’s CEO
On 05.21.10, In Investing, Long positions, by David Pinsen
In the comment thread of a previous post on Alloy Steel International (OTC BB: AYSI) I mentioned that I had reached out to the company to ask if they could clarify the situation regarding their expansion. They had previously talked about building a third and fourth mill at their headquarters in Western Australia and had said the third mill was mostly completed, and then there was no mention of mills #3 and #4 in this week’s 8-K announcing the company’s planned manufacturing facility in Indonesia. After trying to reach the CEO, Gene Kostecki, again by phone last night, I got this response from him via e-mail today:
Hello David,
It has been decided by the board to put a lid on future expansion news regarding new mills. Suffice it to say we will meet any demand that will come Alloy’s way. As this may become useful information for our weld overlay brothers around the world we have no intention of giving away any information to any potential competitor that may use this knowledge to potentially hurt the interests of this company or our shareholders.
I believe the shareholders ought to focus on our yearly results.
Gene
http://steamcatapult.com/2010/05/21/word-from-alloy-steels-ceo/
If the original information is correct then the 3rd mill should be nearing production stage by now and Indonesia is the 4th mill. Maybe management is refraining from commenting on status of 3rd mill after getting "burned" the last time when it took much longer to get mill #2 going and they'll just surprise us when the mill is online and producing. Originally it was stated somewhere that Gene had said there would be space for mills 3 and 4 on their Malaga site but I guess mill 3 occupied more space than anticipated and the site in Indonesia became available earlier so it makes more sense to build mill 4 there.
Since the property and equipment went up more than $500,000 in the last half year ($355,879 from e09/09 to e12/09 and $164,782 from e12/09 to e03/10) one should be fairly safe to assume the 3rmd mill is pretty much completed.
Since they build all components of their mill in-house there is still the possibility that the mill pieces are ready to be shipped to Indonesia instead of being deployed in Malaga but I doubt it.
GLTA
Cheers,
Klaus
PS: I currently don't own any AYSI shares as I sold out last week needing money for my own new house
Post Unavailable
Additional Information
SIAF - It's about time :)
That is still a fallout from the stock options scandal. They had to re-state all their financial for several years back and could not do that in time so became delinquent in their filings hence de-listed.
But now they're back on the path to uplisting. All financials are filed correctly with the SEC, and they have cleaned up their act by focusing on their core business and minimizing cost and are on the verge to be profitable again (IMHO).
They cleared out/restructured a lot of their imminent debt and set up the share structure for a reverse split (but a good one where the A/S is scaled as well, so no more dilution) to get the share price where it needs to be for uplisting (and that reverse split option was approved in a special share holders mtg a little while ago but the company has not acted on it yet).
This should just be a matter of time to take off eventually.
Disclosure: Long and strong
And 3 huge block sales (2.5mio shares each)
This is the OTC:BB and market makers only show signals (500, 1000, 5000, etc. ) but not the actual order books like on the senior exchanges when you have L2 access. And they are under no obligation to show the best bids or offers but only what they deem best to get their trades done.
I really hate Pink Sheets!
so much manipulation. I had staggered but otherwise identical buy orders 50,000 each at 0.0025, 0.0027 and 0.0029 in at the same time place early this morning and they filled one at 0.0025 (therefore counted as sell and right after one at 0.0029 and rated as buy and follow it up with another sale at 0.0025 for 10,000 shares. Can anybody tell me why they would fill a buy order at 0.0025 if they could have done it at 0.0029?!?
gilead23 -
"First there is a $337k cash outflow for capital expenditures. That tells me its very likely or a near certainty the third mill is underway."
Agree with your interpretation except the amount I found was $352,272 and an respective increase in net Property and Equipment of $355,879 which to me means that all needed for the 3rd mill has already been paid for and is on the books.
I would also assume that the process of bringing the mill online will be somewhat smoother than the last time by profiting from the experience gained last time. Maybe we'll see revenue from that mill in the 3rd Q already :)
my mistake, you are right, should have checked instead of just relying on my memory (which seems to be failing ;). It's hard to tell looking back whether Yahoo has some delay in posting those filings as the date listed coincides with the filing date but could still have shown up a few days later every time. We should see it popping up soon then.
The 10Q never triggers an alert (unless you specify an alert like on Google, etc.).
I expect them to publish a PR reiterating the good results and giving somewhat more of an outlook similar to what they did after the 10K in December...
Analysis: Carrier Ethernet switch needs
Ron Wilson, Executive Editor - EDN
Thursday 11 February 2010 11:37
http://www.electronicsweekly.com/Articles/2010/02/11/47987/analysis-carrier-ethernet-switch-needs.htm
The explosion of interest in Carrier Ethernet (CE) seems to be at the front of everyone's mind these days.
In case you haven't been following the networking market lately, the basic story is this: Just as wireless service providers and conventional telephone service providers decided to evolve from their legacy switched networks and synchronous rings into Internet-compatible packet networks, they were slammed by a coincidence of three massive trends: the explosion of data traffic in cellular networks, the allure of delivering high-definition television via IP packets to homes, and the rumor of a huge shift toward cloud computing.
The result for both wireless backhaul networks and the wired infrastructure behind all those DSL and cable connections was the same. The providers want a packet-based network with enormous bandwidth—like Enterprise Ethernet—but with all the features these providers had from their legacy networks.
These services include awareness of the service needs of each individual flow through the switch, multicast capability, carrier-class reliability and management functions, and support for precise timing. And of course the carriers want the ability to provide guaranteed quality of service for difficult media types like voice and HD video.
The answer to all these desires, the industry claims, is CE.
The next question is how to implement CE in a way that can be both fast and cheap. Service providers are blowing right past 40-Gbit switches and asking for 100-Gbit capability, but they are severely capital constrained.
The obvious solution is to start with an existing fast enterprise switch and enhance it to provide the additional services. But this runs into problems. If your enterprise switch relies on NPUs, you can simply add to the NPU software, but you will almost certainly run out of processing power long before you get all the new features in, even at low wire speeds. If your switch uses a dedicated ASSP or ASIC, the flexibility won't be there.
Either way, you will have to add an another ASIC or, more likely, an FPGA or two to the design, running up the BOM (bill of materials) cost, the power, and the design time. And, as Vitesse Semiconductor Director of CE Technology Morteza Ghodrat is quick to point out, adding more packet-processing sites to the design means adding more DRAMs and CAMs. Either you put duplicate memory chips around each chip, or you attempt some sort of shared-memory pool with the obvious complications.
That brings Ghodrat to his preferred solution: the three MAC (media-access controller) and switch chips Vitesse is announcing today. He argues that for both architectural and efficiency reasons, it is far better to recognize that all the CE services are related, and that they should be handled from a single architecture rather than distributed across multiple chips.
The new devices are the VSC7460 Jaguar CE Switch, the VSC7462 LynX CE Switch, and the VSC7364 CE-MaX-24 MAC/Switch. As you would expect from the preceding comments, the chips are ASSPs designed to bring the full range of CE functions to high-speed Ethernet switches.
Accordingly, each chip has a service-aware classifier that can manage up to 4k services, each with its own QoS treatment, DE marking, color, policing, OAM (operations, administration, and management), performance monitoring, and timing support via IEEE 1588v2.
The chips provide advanced QoS and MEF (Metro Ethernet Forum) policing based on a shared 32-Mbit buffer. In addition, there are statistics counters, Ethernet OAM for all 4k services, and support for 802.1ag, 802.3, Y.1731, and MEF-16 performance assurances.
The chips differ in CPU and I/O complements. The Jaguar has two 10G XAUI and two 10G VAUI ports on one side and 24 multifunction SGMII/SerDes/100Base-FX ports on the other. The LynX has just half as many of each. Both felines include a 400 MHz MIPS24KEc processor core.
The CE-MaX chip, intended operate in conjunction with an ASIC or FPGA, uses two XAUI ports and a host interface to attach to the other chip, and provides the full 24 SGMIIs plus two more XAUI ports downstream. The CE-MaX does not have an on-chip CPU. All three chips will be in 27x27-mm HSBGA packages, and all are scheduled to sample in the second quarter.
By Ron Wilson, Executive Editor - EDN
That made me smile as well. Article doesn't really add any new info and is written a bit sloppy but it's one more outlet touting our baby....
Cheers
Steel maker ready to bring new mills into production <News>
http://www.stockhouse.com/Community-News/2010/Feb/9/Steel-maker-ready-to-bring-new-mills-into-producti
2/9/2010 1:47:26 PM | Allan Jackson
116 Reads
Mining and construction industry could use new super alloy
Alloy Steel International (OTC:BB: AYSI, Stock Forum) shares were up 3% on Tuesday, days after the company reported first quarter earnings. The company is readying two new mills to produce its super strong Arcoplate steel.
The company is located in Perth, Western Australia. Last week it reported its fiscal first quarter earnings(ended in December) increased by 214% from a same quarterly loss of $960,000 in 2008 to a whooping pre-tax profit of $2,240,000 during the same quarter in 2009.
The 17.35 million share company reported in previous announcements that its two Australian plants are operating at capacity. However, in a September 8th,2009 announcement, CEO Mr Gene Kostecki indicated that the company has planned two new larger capacity production mills to substantially increase production during the first half of 2010. For guidance over the next three quarters of this fiscal year, AYSI believes that the first quarter concluded Dec 31,2009, was below what expectations for the next three quarters because of the Christmas Holiday downtime. So it seems to be in order to speculate that if the company’s pretax profits for each quarter are the same or greater, it will earn approximately $9 million US pre-tax profit for the year ending September 2010. That's over 50 cents a share. Of note is that the company has previously charged the expenses of opening an Arcoplate plate plant (August 2009) to profits resulting from operations (See Announcement 1/12/2010).
Earnings through September 2010, as two new Arcoplate plants are built and commissioned could be impacted, until those expenses to profits are added in. However, assuming that over the course of the following fiscal year, October 2010 to September 2011, Alloy Steel will have two new Arcoplate plants fully commissioned and operating at full capacity, plus their current two plants, pre- tax earnings of more than a dollar a share are very possible. That would amount to a 100% earnings growth. Arcoplate has a global market, and its growth rate could be sustained for the next few years minimum.
New super alloy Arcoplate was developed to solve problems in mining and construction equipment caused by abrasion, friction and wear, which lead to repeat maintenance and part replacement. The costs are obvious: repairmen, mechanics, materials, and down time of critically important heavy equipment. Mining and construction company operating officers know that they must find ways to continually increase production and decrease expenditures or production costs. Alloy Steel’s believes that Arcoplate is the answer.
Arcoplate is the destructively innovative brainchild of a mechanical/design engineer and a materials chemist. The Arcoplate production mill continues to lead the world in continuous cast fused alloy cladding. It is the only process in the world capable of producing a bi-metallic fused super alloy wear plate in a single pass in a thickness over 20mm (just more than3/4 of an inch) in a single contentious casting operation. Alloy's other main advantage with thicker super alloy material is that it makes it possible to compete with other thick wear resistant steels and castings, some of which may be up to 6 inches or 150mm thick.
A construction or mining outfit can use Arcoplate to obtain three to ten times the wear, plus a lower materials manufacturing cost by using Alloy Steels 3/4 inch or 20 mm material. Arcoplate is significantly cheaper and can also boost productivity by lessening production down timefor repairs or change liners in heavy construction or mining equipment.
Results from the recent Rocky Mountain Master Mechanics Conference in South Dakota on Dec 12th, showed that Arcoplate lasted 3 to 10 times longer than The Standard Materials Competition (see announcement 1/26/2010).
1. An Arcoplate lined shovel bucket lasted in excess of eight million tons. A heavy steel lined shovel bucket lasted for only one million tons before needing replacement or requiring welding.
2. Mining dumb truck bodies using Arcoplate to line the tail area lasted in excess of 30,000 hours. Dump trucks with a standard lining on the tail area required major repairs after 3,000 hours.
3. A D11 Bull Dozer with a normal wear weld facing overlay needed the blade reworked after only 22,000 hours. In the same mining location, an Arcoplate lined bulldozer blade lasted for 45,000 hours, and was expected to continue for another 45,000 more for a total of 90,000 hours.
BHP Billiton recently inked a 5 million dollar contract with Alloy Steel, and over the next five years could has the option to increase that amount ten times.
Disclosure: Allan C.Jackson III and his family own less than 5000 shares of AYSI as of 2/14/2010.
ABOUT THE AUTHOR
Allan Jackson
And now they keep lowering bid/ask with my higher limit buy order still not filled. I hate the games they play (wouldn't mind if they filled me at the lower prices, though :)
Stop competing with me ;)
And yes, it's imperative to get off the pinks as those MMs keep playing games (my limit order any shares is significantly higher as what they reflect currently on the ask and I'm still not getting filled)
I've been doing that for the last half year already (friends, some colleagues) and some of them bought positions already :)
A quick calculation results in ~$14.5mio of revenue (6.75mio downloads at avg $2.14 selling price) for last business year for iPhone/iTouch games alone which should be revenue with a much better likelihood to be collected. Don't know how much iTunes store charges as percentage of sales, though?!?
Cheers
I sold 100,000
I'm all out now - good luck to everyone still holding!!!
Finally!
http://ih.advfn.com/p.php?pid=nmona&article=39960779&symbol=VTSS
Vitesse Announces Agreement to Restructure Debt
Date : 10/19/2009 @ 5:54PM
Source : Business Wire
Stock : Vitesse Semiconductor Corporation (VTSS)
Quote : 0.355 0.005 (1.43%) @ 4:59PM
Vitesse Announces Agreement to Restructure Debt
Vitesse Semiconductor Corporation (Pink Sheets: VTSS), a leading provider of advanced integrated circuit solutions for Carrier and Enterprise networks, announced today that it has entered into debt restructuring agreements with its major creditors. Under one of these agreements, the holders of more than 96.7% of the Company’s 1.5% Convertible Subordinated Debentures (2024 Debentures) will exchange their 2024 Debentures for a combination of cash, equity securities, and secured convertible debentures. In addition, Vitesse reached a separate agreement with the holder of the Company’s $30 million senior secured loan to amend the terms of the loan to facilitate the debt restructuring.
To complete the agreements with the holders of the 2024 Debentures, Vitesse expects to:
* Pay approximately $6.4 million as cash consideration to the holders of 2024 Debentures that participate in the exchange and approximately $3.6 million in cash to satisfy its obligations to those holders of 2024 Debentures that are not participating in the debt restructuring transaction.
* Issue approximately $50 million in aggregate principal amount of new convertible secured debentures. These new convertible secured debentures would have a five-year term, an 8.0% annual interest rate, and a conversion price of $0.225 per share. The indebtedness under these new convertible secured debentures would be secured by a second-priority security interest in substantially all of Vitesse’s assets.
* Issue approximately 173 million shares of common stock along with approximately 771,000 shares of a new Series B Preferred Stock that will be convertible into common stock on a 100:1 basis and that will have a dividend preference relative to the common stock. The Series B Preferred Stock and the convertible secured debentures include restrictions on conversion that prohibit a holder of these securities from converting them if it would result in the holder beneficially owning more than 9.9% of Vitesse’s outstanding stock.
Assuming the full conversion of the Series B Preferred Stock into common stock, Vitesse’s outstanding shares would increase from approximately 231 million to approximately 481 million shares. The Company does not currently have a sufficient amount of common stock authorized to permit the conversion of the new convertible debentures into common stock.
The Company plans to seek shareholder approval of an increase in the authorized shares of common stock to permit the full conversion of the convertible secured debentures. If Vitesse has not obtained shareholder approval on or prior to February 15, 2010, Vitesse will pay the debenture holders on February 16, 2010, an additional monthly payment equal to 1.0% of the outstanding principal amount of the new convertible debentures, and Vitesse will be required to pay the additional amount each month until it has obtained shareholder approval. If Vitesse has not obtained shareholder approval prior to February 15, 2011, the holders will have the option to convert the notes for cash as further described in the new Indenture.
Amendment to the Senior Secured Loan Terms
In connection with the restructuring of the 2024 Debentures, the Company will make at least a $5.0 million partial repayment of Vitesse’s senior secured loan. Beginning on October 16, 2009, the effective rate on this loan will be 8.5% per annum in cash, plus 2.0% payment-in-kind interest, plus an additional 0.3% payment-in-kind interest for every $1 million below $15 million of the senior term loan under the Loan Agreement that is not paid down by the Company.
Closing Conditions and Extended Forbearance
The restructuring is subject to a number of closing conditions, including certain regulatory approvals. Vitesse currently expects the restructuring transaction to close prior to November 16, 2009. In connection with the restructuring agreements, Vitesse entered into a forbearance agreement with the holders of the 2024 Debentures pursuant to which the forbearing holders of the 2024 Debentures have agreed to not pursue any remedies with respect to events of default under the 2024 Debentures during the period from October 16, 2009 until the termination of the restructuring agreements. Vitesse has agreed as part of this forbearance arrangement to enter into an amendment to the Indenture governing the 2024 Debentures pursuant to which Vitesse agreed to add subsidiary guarantees and to provide the 2024 Debentures with a second priority security interest in substantially all of Vitesse’s assets. Additionally, Vitesse has agreed to pay additional interest on the 2024 Debentures, which will be deemed waived in whole or in part depending on when and if the restructuring transaction closes. The Company’s Current Report on Form 8-K that the Company is filing today provides additional information about the terms of the debt restructuring agreements.
Debt Restructuring Process
In November 2008, Vitesse’s Board of Directors formed a Strategic Development Committee (SDC) for the purpose of exploring strategic alternatives to refinance the 2024 Debentures. This contemplated debt restructuring follows a thorough process undertaken by the Company, working in conjunction with the SDC, to review possible alternatives, which included discussions with numerous potential strategic and financial investors as well as the holders of the 2024 Debentures. The Company’s Current Report on Form 8-K that the Company is filing today provides additional information about the process related to this debt restructuring.
Management expects that this debt restructuring will enable a smooth resolution in the near-term of the issues relating to the Company’s debt. Management believes that the removal of the financial risk posed by the repurchase rights of the holders of the Company’s 2024 Debentures and the resulting stronger balance sheet will also reinforce confidence in the Company’s future by its stakeholders, including its employees, customers, and vendors.
The contemplated debt restructuring would only be available to, and any new securities would be offered only to, existing holders of the 2024 Debentures, all of which are accredited investors or persons other than U.S. persons, in a transaction that is exempt from the registration requirements of the Securities Act of 1933 (the Securities Act). Any new securities issued in connection with the proposed debt restructuring have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.
This announcement does not constitute an offer to sell, or the solicitation of an offer to purchase, any securities. The contemplated transaction, or any other transaction, including any other restructuring proposal, if made, will be made pursuant to definitive documentation to be provided to eligible holders.
About Vitesse
Vitesse designs, develops, and markets a diverse portfolio of high-performance, cost-competitive semiconductor solutions for Carrier and Enterprise networks worldwide. Engineering excellence and dedicated customer service distinguish Vitesse as an industry leader in Gigabit Ethernet, Ethernet-over-SONET, Optical Transport, and other applications. Additional company and product information is available at www.vitesse.com.
Vitesse is a registered trademark in the United States and/or other jurisdictions of Vitesse Semiconductor Corporation. All other trademarks or registered trademarks mentioned herein are the property of their respective holders.
Safe Harbor Statement:
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding Vitesse’s plans, intentions and expectations. Such statements include without limitation, statements regarding Vitesse’s proposed restructuring transaction and the impact on the Company and its shareholders from such transaction. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Vitesse cannot assure that it will be successful in completing the contemplated transaction or any other restructuring proposal, on the terms outlined in this press release or otherwise. A more extensive discussion of the risk factors that could impact these areas and Vitesse’s overall business and financial performance can be found in Vitesse’s reports filed with the Securities and Exchange Commission. The risks included above are not exhaustive. Vitesse expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Vitesse’s expectations or any change in events, conditions or circumstances on which any such statement is based.
I guess "TMSTOCKS" beat me to it. Today Vitesse issued a press release with regard to this matter (see previous post)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=42102603
Do you have any more info on the potential BK filing because of bond puts due 9/30? This is being discussed at the Yahoo message boards with quite some passion. I only became aware of this via a Google alert. Sure hope this does not follow that path as at least short term this would not bode well and I don't have enough info yet as to how the true value of the company stands though I believe they have a good business going forward and will be profitable next year. But if bond holders find a way to potentially cheat shareholders out of our rights, who knows.
Good luck and still holding
I guess that depends who is being used as broker when placing a trade. I've put in buy orders above ask that did not show up on L2 (and no, they were not AON but regular limit order for the day).
Oh well....
On OTC:BB you never get the same transparency as on the main exchanges. Only time you get very little market maker influence is on high volume days.
This is a little out of their typical trading pattern between quarterly reports. Wonder what's behind that. Not that I mind, but why when I just had decided to double down my position for $0.26 beginning of this week which never happened, of course, as the price eventually took off without retracting to about $0.26 that I had expected based on previous patterns sometime the next few weeks (but maybe, we still get there anyway)
Cheers
What are you guys all talking about? You don't seriously think that any one seller would have any influence on what any of the licensed market makers post on the board as bid and ask on the OTC:BB (on any of the big markets, yes as they have to reflect real time what's on the books, but not on the OTC:BB or worse, the Pink Sheets). Market makers have full freedom to post bid and ask at whatever level they see fit, their goal is to make money on the transactions and the more the better. Whatever that translates into in their strategies, who knows (although I sure would like to).
Cheers
So did I so you were the other buyer :)
Maybe that will be the location of one of the two new mills. They must have been planning for this for a bit as there is no way they could pull this off until early 2010 (only 6-8 months from now) if they hadn't made plans already and know how to make them happen (permits, material delivery times, etc.)
What, you mean I have to wait 'til next year for a big payoff??? That's so not me
That's good to hear. Lets hope they stick to it as a first step (reporting, I mean). That would end the speculation how profitable the recent deal really was and what might transpire in the future. Well, the year is already coming to an end, so hopefully we'll see a 10Q in November already!
Meanwhile it's good to see that a lot of product is on the shelves as an indication (hopefully) that both sides did well.
Just curious as to what the plans of this management really are as transparency is non-existent here with no reporting obligation anymore. They cited financial reasons for not filing back then but now should have the money to catch up and get back onto the OTC:BB. How is the ownership structured here? Could not find much insider holdings which always suck as there is not much incentive for the CEO and other insiders to do something for the PS.
just hoping that they do have the best interest of all of us in mind and that we will some fruit from the recent contract. But without visibility this is highly speculative.
Cheers
PS: I made good money in the first run on AYSI as well but bought back into it a little too early, hence the avg down but worked out well now and is now by far my biggest position
See my latest post for the reason to buy Friday afternoon. I started the buying spree this afternoon it seems and at the end someone else jumped in and finished it off with another (what I assume) 50,000 share trade in two chunks.
BTW, am very grateful that you pointed me to AYSI a long time ago. Stuck with it and averaged down heavily as I disagreed with your assessment of the company and what a great reward it was now!
Wouldn't mind if the same would happen here as I've taken a loss so far during the first dip this year.
Cheers
I must have given somebody some ideas as the 39,000 and 11,000 happened after I bought 50,000 in smaller trades all afternoon slowly taking out the 0.078 ask. I even put in a 10,000 order for 0.10 for a few minutes (no AON) to see whether market makers would actually show the bid but to no avail and the order did not get filled. Go figure.
And no particular reason as to Friday afternoon. Was just in the mood to take a bit of a risk while chugging along at work.
Cheers!