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Hmm, very interesting. I'll admit that when I got annoyed that no one was buying at .006, I decided to break through (you're welcome), and then bought more at .007 on Thursday. Then, for CHBO, volume seemed to pick up; now the ask is .009 and the bid is .006. It seems to have happened fast.
Isn't what's different this time the fact that Wang confirmed that of 3/23/09 there were 40-41 million shares outstanding? You know, at least shareholders now have a CLUE. All things considered, that's really not a lot of shares.
Thanks Soapy. The "oversold" condition shouldn't take much longer to achieve since there are only 4.4 million shares in the float, right?
Hey, if you have time, could look at the chart on CHBO? Pretty please?
;)
OK, OK, you are a very good moderator and I get it. I'm holding a bunch of ugly shares at .40, but have bravely been adding whenever I have some spare change.
Crossed above the upper Bollinger Band on Friday, so that's good from a technical standpoint, right? That, along with the bullish indications Siaubas mentioned, maybe it's about to go KABOOM.
We shall see. On 4/10/08, this closed at .55; two years ago $14.00!
An excerpt from the 10Q: "Thus, we have undertaken EFFORTS TO DEVELOP MARKET RECOGNITION FOR OUR STOCK. As of March 23, 2009, we had approximately 1,500 stockholders and our market capitalization was approximately $0.2 million."
I will look forward to those "efforts." Even if the possibility of further dilution is keeping shareholders away, the market cap seems extremely low.
Book value, based on their last quarter ending 12/31/08, is about $3.85/share.
(Shareholder equity of $339,244 divided by 88 million shares outstanding = $3.85)
This company was until recently listed on the NYSE (former ticker was JRT), having been given the boot because of its low market cap and under $1 share price. This poor stock closed at .35 today. While this company has suffered with many others due to the real estate crisis/credit crunch (and Ernst & Young gave it a "going concern" qualification), there is still so much VALUE here, and if anyone can turn this company around, these guys can. Insiders hold a significant number of shares and they plan to issue dividends again at some point if their new strategy is successful.
Risky yes, but based on the management team and strategic plans, I believe they're gonna do it. Tiny float makes for some violent moves, but I really don't think we'll be looking at .35 for too long.
Would love to have someone serve as moderator and fix up the Ibox. Any volunteers?
Geez, 10,000 shares will cost ya $70. Why not MODERATOR UP and buy a few at the ask? I'm counting on Wang, no matter how depressing he makes things sound, to turn this around in a BIG way.
Did you notice that the 6's didn't last very long?
;)
Wow, it's nice to see a penny again...it's been a while.
duplicate
You meant to say sales of $3.546 BILLION...?
Yes, it really DID happen...could it mean that all the .0001's are now gone?
Etrade doesn't show a bid either. I hope .0002 sticks because it looks so pretty.
We're hallucinating I think.
(lol)
Just look at the report dates, from the date of the filing of the Petition right up to 4/7/09 (wasn't that yesterday?)...seems pretty current to me.
I suppose the site could just be playing tricks on me.
(lol)
Yet AFTER the petition was filed, some increased their positions and a few opened NEW positions (Dreyfus, Oppenheimer...)
http://www.mffais.com/cem.html
When all the riff-raff become bored and move on because they didn't make their money in a day or two, and all the games are over, then this will move onward and upward and with commitment. This Chapter 11 is still new...
imvho.
;)
Here is the analysts' page from Yahoo Finance on CEMJQ.PK. Target price $14.00? Also, my account is showing a Thomson-Reuters rating of "hold." The company had $3.55 billion in revenue in the last FY...market cap is now at $10.7 million.
http://finance.yahoo.com/q/ao?s=CEMJQ.PK
Do you mean the Forms 4 and 3?
Something's happening at the ZVUE...
I do believe it's true.
There are some funds that opened NEW positions or increased their positions AFTER the company filed its Petition on 3/18/09, including Oppenheimer Opportunity Fund, Dreyfus Midcap Index Fund, Mainstay Map Fund....hmmm.
http://www.mffais.com/cem.html
I agree also! And I think most of them have their own agendas too. I just thought his comments may have had some impact on today's selling (not that the market was in a great mood anyway).
On the bright side, these bozo analysts often create great buying opportunities for the dissenters!
;)
Some analyst at Calyon Securities assigned a "sell" rating to FITB this morning...probably part of the problem today.
http://www.businesspundit.com/calyon-securities-mike-mayo-says-us-loan-losses-could-exceed-depression/
Webcast Alert: Patriot Scientific Corporation Shareholder Call
Apr 6, 2009 07:45:00 (ET)
CARLSBAD, Calif., April 6, 2009 /PRNewswire-FirstCall via COMTEX/ -- Patriot Scientific Corporation (PTSC, Trade ) announces the following Webcast:
What: Patriot Scientific Corporation FY09Q3 Shareholder Call
When: April 14, 2009 @ 4:30 p.m. EST
Where:
http://www.videonewswire.com/event.asp?id=57493
How: Live over the Internet -- Simply log on to the web at the address above.
Contact: Angela Hartley, Investor Relations at Patriot Scientific Corporation, 760 547 2700 x102
To listen to the live webcast, please go to this website approximately fifteen minutes prior to the start of the call to register, download and install any necessary audio software. If you are unable to participate during the live webcast, the call will be archived on the Investor page of the Patriot website http://www.ptsc.com/ for thirty days.
To participate in the conference call by telephone, please call 800-860-2442 (toll free in the U.S.) or 412-858-4600 (toll call outside the U.S.) and request the "Patriot Scientific" conference call.
Headquartered in Carlsbad, California, Patriot Scientific Corporation provides data sharing and secure data solutions for a connected world. Patriot Scientific has recently embarked on an aggressive business expansion initiative complementing its recent acquisition of data sharing software provider, Crossflo Systems Inc. Patriot is evaluating full M&A and minority investments in early-stage technology companies in the data sharing software and secure networking technology sectors. These investments are funded with revenues generated, in a large part, from the continuing successful Moore Microprocessor Patent(TM) Portfolio licensing partnership with The TPL Group. Patriot Scientific's integrated core intelligence solution addresses the critical data/information sharing needs of the healthcare industry, the Department of Homeland Security, the Department of Justice, and federal, state, and local public safety and law enforcement agencies. For more information on Patriot Scientific Corporation, visit: www.ptsc.com .
SOURCE Patriot Scientific Corporation
lol. Your post was perfectly fine. It was MY post that I wanted deleted. Sorry.
lol. Your post was perfectly fine. It was MY post that I wanted deleted. Sorry.
Would the moderator please delete this post...thanks
Fleetwood Enterprises, Inc. Announces Court Orders; Receives Approval for up to $80 Million in Debtor-in-Possession Financing
3:50 PM ET 4/3/09 | PR Newswire
Fleetwood Enterprises, Inc. (OTC Bulletin Board: FLTWE) ("Fleetwood"), a leading producer of recreational vehicles and manufactured homes, today reported that the U.S. Bankruptcy Court has approved orders that the company requested to support the continued operation of its motor home and manufactured housing businesses.
On April 1, 2009, Fleetwood received authorization through an interim order to obtain up to $80 million in Debtor-in-Possession ("DIP") financing to supplement the company's working capital needs, including a $65 million sub-limit for Letters of Credit that the company had in place prior to its Chapter 11 filing. The Court authorized the DIP financing as senior secured super-priority post-petition extensions of credit from its lenders, led by Bank of America, N.A. as agent. An additional hearing will be held on April 21, 2009, regarding a final order on the company's DIP financing.
Fleetwood also announced that its requests to pay pre-petition dealer and retailer sales incentives and warranty service claims for Fleetwood motor homes and manufactured homes were approved. Under Chapter 11, the company is permitted to continue to pay for approved post-petition warranty service that is performed on Fleetwood motor homes and manufactured homes and to pay for sales incentives earned on or after March 10, 2009, in the ordinary course of business.
Additional requests made since the company voluntarily filed for Chapter 11 on March 10, 2009, have also been approved. The orders, entered by Judge Meredith A. Jury of the Central District of California in Riverside, include:
View data
-- Authorization for Fleetwood to access its pre-existing cash management
systems and its cash collateral.
-- Approval to pay outstanding pre-petition employee expenses and
workers' compensation claims.
-- Authorization to pay certain common carriers and other vendors for
pre-petition amounts outstanding. The company has submitted a motion
requesting permission to pay certain additional vendor claims, which has
not yet been heard by the Court.
-- Authorization for Fleetwood to access its pre-existing cash management systems and its cash collateral. -- Approval to pay outstanding pre-petition employee expenses and workers' compensation claims. -- Authorization to pay certain common carriers and other vendors for pre-petition amounts outstanding. The company has submitted a motion requesting permission to pay certain additional vendor claims, which has not yet been heard by the Court.
Copies of the entered orders are available electronically at www.kccllc.net/fleetwood.
Founded in 1950, Fleetwood Enterprises, Inc. and its various subsidiaries produce, distribute, and service recreational vehicles and manufactured housing. The company is dedicated to providing high-quality, innovative products that offer exceptional value to customers. Fleetwood continues to employ more than 3,000 people in 15 plants located in 10 states. Fleetwood's products are primarily marketed through extensive dealer networks throughout the United States and Canada. The company is headquartered in Riverside, Calif.
Additional information about the company's reorganization may be found online in the news section of www.fleetwood.com or www.kccllc.net/fleetwood.
Contact: Rivian Bell or Sydney Rosencranz
The Abernathy MacGregor Group
rlb@abmac.com, spr@abmac.com
(213) 630-6550; (888) 477-4319 (24/7)
I think the Bollinger Bands are tight, so doesn't that mean that something BIG is about to go down?
(lol...I stared at the chart for a long time to figure that out)
;)
That's so interesting if true. Thor Industries reported on 3/9/09: "Cash, cash equivalents and investments on January 31, 2009 were $310.1 million, up from $234.3 million last year and the company continues to have zero debt."
They've got money!
lol...Don't forget to say thank you to the twitchy sellers.
;)
Volume way up...wonder how high it will go this time around.
I agree that it was terribly negative and quite whiny and full of excuses (almost laughable). The company is "flawed" here, there and everywhere, and they have "inexperienced" personnel and China could turn on them, and nothing good may ever happen. It will be interesting to see what kind of efforts they will make to "develop recognition for our stock."
Wang is supposedly a smart and successful guy. To me, it sounds like he either thinks this company is doomed forever or is deliberately trying to keep the share price down and/or wants existing shareholders to sell.
There, now doesn't that feel good? You've bravely made your way from the dark side into the sunshine and light.
I hope you were able to pick up all the shares you wanted!
;)
Here's one. It does happen. The bottom line is that no one yet knows how existing shareholders will be treated, and the company has incentive to be kind to the commoners because of the substantial insider holdings.
http://news.findlaw.com/prnewswire/20080227/27feb20080843.html
In addition to those buys at .09 in 2009, in July of 2008 the CEO, CFO, directors, their legal counsel, Treasurer, and other officers bought thousands of shares ranging from $1.90 to $2.50. And it seems to me there was plenty of time in 2008 and 2009 for them to dump some of their shares prior to the Chapter 11 filing…but not one of them sold a single share...
7/11/08 Plowman Boyd R Chief Financial Officer Purchase 20,000 2.27 – 2.27 50,100 $45.4 K
7/10/08 Larkin Lyle Noble Officer and Treasurer Purchase 2,500 2.10 – 2.10 17,250 $5.3 K
Hagan James Michael Director Purchase 5,000 2.13 – 2.14 17,719 $10.7 K
Montford John T Director Purchase 5,000 2.21 – 2.22 12,833 $11.1 K
7/9/08 Mcgill Leonard J General Counsel Purchase 2,500 2.11 – 2.11 3,250 $5.3 K
7/8/08 Doti James Louis Director Purchase 2,000 2.38 – 2.38 16,219 $4.8 K
7/7/08 Smith Elden L Chief Executive Officer Purchase 65,000 1.95 – 1.95 200,000 $127.0 K
Pitcher Thomas B Director Purchase 5,000 1.99 – 1.99 15,319 $10.0 K
7/2/08 Shearin Michael B Officer Purchase 30,000 2.50 – 2.50 30,000 $75.0 K
Eskritt Paul C Officer Purchase 24,000 1.90 – 2.50 24,000 $54.1 K
Agreed, and Kathy (whoever she is) says sometimes they're canceled and sometimes they're not. Well that's really nothing new, is it? Until their Plan of Reorganization is submitted and approved by the Judge, or until Fleetwood announces that existing shareholders will be wiped out, then no one knows, so until then, shareholders remain shareholders. I think it's interesting that no insiders (except for BOA) have sold any of their shares, at least not yet. A lot of crazy things could happen between now and Fleetwood's final "emergence" from Chapter 11...there's plenty of time.
Wow...OK, thanks.
Is that why we see .21 and .25 cents only in premarket and after hours? Because the regular MMs are not in the building?
(lol). It looks like he's made lots of money; in fact, according to my brokerage account, Landau and Glazer are INSTITUTIONS with high turnover investment styles. It would be nice to see a few new insider buys at these prices though.
;)
Well, you ain't gettin' mine for .0041! Not even close.
Why not become a proud member of the buy-at-the-ask society? Show some support for Pete's sake. I hope you get ZERO shares.
(He was so cheap that instead of giving her flowers, he gave her seeds).
;)
Response to my email from a nice person at the FDIC:
"The holding company is not impacted by the closure of Omni National Bank. Omni Financial Services is under the Federal Reserve, while Omni National Bank was regulated by the Office of the Comptroller of the Currency."