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Not only not enough stations or trucks..
Not enough articles...this niche is fading fast....
That new CONVERTIBLE financing went over well !
I think the market really likes the news....
This might explain our new 10 YEAR LOWS !
THE PRICE OF PARADISE JUST WENT DOWN !!!
You were warned...
Does anyone have any questions?
A NEW WEEK and a NEW LOW.
CLNE is obviously NOT paradise.
But it is close, if you are short !
ROTTEN TO THE CORE:
I saw this on Yahoo...thank Beeny.
Westport's Proposed Takeover Of Fuel Systems Solutions: 'Rotten To The Core'
Jan. 11, 2016 7:55 AM ET| About: Fuel Systems Solutions, Inc. (FSYS), Includes: WPRT
Disclosure: I am/we are long FSYS. (More...)
Summary
WPRT is capturing $63 million net cash from FSYS, with no money down.
WPRT will swap 38.5 million of their shares, to seal the deal.
FSYS' market cap, now equates to its cash holdings.
FSYS was buying back their own shares at $11, but will settle for just $3.50.
This proposed transaction is outrageous and a white knight could emerge.
Talk about sheer insanity. That's a gargantuan understatement when it comes to the caper Westport Innovations (NASDAQ:WPRT) is about to pull off. It is even more inconceivable when considering these guys have been burning through cash, have net debt of $24 million, and shareholder's equity of just $1.33, yet will be nabbing Fuel Systems Solutions (NASDAQ:FSYS), easier than taking candy from a baby.
The guys at FSYS are no babies either. They have been in business several decades, possess a pristine balance sheet, and tally annual sales of over $300 million. In fact, I have been promoting them for many years, because of their superior value metrics. FSYS has $63 million of cash, is EBITDA positive, and features a book value of $9.22.
They even have a stock buyback plan in effect, and have already bought back over 10% of their shares outstanding. The company's market value of $3.56, is just a few pennies more, than its cash value per share of $3.48. Can you believe that? It is a extremely rare occurrence when a enterprise has more cash, than its market value.
They were buying back their shares in 2015 in the open market, under their $25 million stock repurchase plan, at an average price of $11. Why on earth would they be content on selling those same shares today at $3.50? This adds up to nothing short, of lunacy.
Now, WPRT intends to print up 38.5 million shares and swap 2.129 Westport shares for every single FSYS share, to consummate the marriage. In the process, they will immediately capture $63 million of FSYS' cash hoard. They are essentially being paid to take over the company, suffering only "share dilution" as a consequence. A wonderful deal for WPRT shareholders, and the clear perception of a more than "woeful" transaction, for FSYS shareholders.
If anyone would have told me, that FSYS was going to be acquired, and just three months after the announcement their shares would be trading 50% lower, I would have thought they were absolutely out of touch with reality. Normally when a buyout occurs, the acquired company's shares go up, not down. Just last Thursday, the shares lost 25% of their value, on absolutely no news.
It appears I'm the one that is out of touch because due to this coming debacle my portfolio value has been sliced in half. To make matters worse, I am being forced out of my position due to margin calls. You see, when a stock falls below $4, the lending broker basically does not allow borrowing power on it.
There is no one to blame but myself. I simply had too much skin in the game because of the attraction and lust I possessed for this name. Its extreme bargain metrics looked just too good to be true, and guess what? Evidently they were not. I simply drank the Kool Aid and became too emotional and stubborn about this stock.
I am unclear why this proposed deal has not been revised, cancelled or subject to a new bidder (the cancellation penalty is a mere $5.5 million), especially considering the vote (by each board) to approve it, occurred when the shares of both companies were twice the price. In my opinion, that is a game changer. What was good three months ago, is definitely not good today, and please don't blame it all on the fall in oil prices.
This transaction seems dubious at best, and I am completely dumbfounded that WPRT hasn't even raised its payment ratio to at least a 2.50 exchange rate considering the tragic decimation of both these stocks. I am also puzzled why a white knight hasn't evolved with a sweeter offer such as T Boone Pickens' Clean Energy Fuels (NASDAQ:CLNE), the final public company of three, in the alternative fuel sector. Perhaps all three of these companies should combine forces?
I spoke with WPRT's investor relations manager and he relayed the voting materials will be out in mid Feb. and the deal will close just three days later. He said he is more than confident that FSYS shareholders will approve it. I am flabbergasted why shareholders would vote for something so outrageously unfair - most notably, activist hedge fund Becker Drapkin (FSYS' largest shareholder). Any way you slice it, this apple is rotten to the core.
ROTTEN TO THE CORE
Westport's Proposed Takeover Of Fuel Systems Solutions: 'Rotten To The Core'
Jan. 11, 2016 7:55 AM ET| About: Fuel Systems Solutions, Inc. (FSYS), Includes: WPRT
Disclosure: I am/we are long FSYS. (More...)
Summary
WPRT is capturing $63 million net cash from FSYS, with no money down.
WPRT will swap 38.5 million of their shares, to seal the deal.
FSYS' market cap, now equates to its cash holdings.
FSYS was buying back their own shares at $11, but will settle for just $3.50.
This proposed transaction is outrageous and a white knight could emerge.
Talk about sheer insanity. That's a gargantuan understatement when it comes to the caper Westport Innovations (NASDAQ:WPRT) is about to pull off. It is even more inconceivable when considering these guys have been burning through cash, have net debt of $24 million, and shareholder's equity of just $1.33, yet will be nabbing Fuel Systems Solutions (NASDAQ:FSYS), easier than taking candy from a baby.
The guys at FSYS are no babies either. They have been in business several decades, possess a pristine balance sheet, and tally annual sales of over $300 million. In fact, I have been promoting them for many years, because of their superior value metrics. FSYS has $63 million of cash, is EBITDA positive, and features a book value of $9.22.
They even have a stock buyback plan in effect, and have already bought back over 10% of their shares outstanding. The company's market value of $3.56, is just a few pennies more, than its cash value per share of $3.48. Can you believe that? It is a extremely rare occurrence when a enterprise has more cash, than its market value.
They were buying back their shares in 2015 in the open market, under their $25 million stock repurchase plan, at an average price of $11. Why on earth would they be content on selling those same shares today at $3.50? This adds up to nothing short, of lunacy.
Now, WPRT intends to print up 38.5 million shares and swap 2.129 Westport shares for every single FSYS share, to consummate the marriage. In the process, they will immediately capture $63 million of FSYS' cash hoard. They are essentially being paid to take over the company, suffering only "share dilution" as a consequence. A wonderful deal for WPRT shareholders, and the clear perception of a more than "woeful" transaction, for FSYS shareholders.
If anyone would have told me, that FSYS was going to be acquired, and just three months after the announcement their shares would be trading 50% lower, I would have thought they were absolutely out of touch with reality. Normally when a buyout occurs, the acquired company's shares go up, not down. Just last Thursday, the shares lost 25% of their value, on absolutely no news.
It appears I'm the one that is out of touch because due to this coming debacle my portfolio value has been sliced in half. To make matters worse, I am being forced out of my position due to margin calls. You see, when a stock falls below $4, the lending broker basically does not allow borrowing power on it.
There is no one to blame but myself. I simply had too much skin in the game because of the attraction and lust I possessed for this name. Its extreme bargain metrics looked just too good to be true, and guess what? Evidently they were not. I simply drank the Kool Aid and became too emotional and stubborn about this stock.
I am unclear why this proposed deal has not been revised, cancelled or subject to a new bidder (the cancellation penalty is a mere $5.5 million), especially considering the vote (by each board) to approve it, occurred when the shares of both companies were twice the price. In my opinion, that is a game changer. What was good three months ago, is definitely not good today, and please don't blame it all on the fall in oil prices.
This transaction seems dubious at best, and I am completely dumbfounded that WPRT hasn't even raised its payment ratio to at least a 2.50 exchange rate considering the tragic decimation of both these stocks. I am also puzzled why a white knight hasn't evolved with a sweeter offer such as T Boone Pickens' Clean Energy Fuels (NASDAQ:CLNE), the final public company of three, in the alternative fuel sector. Perhaps all three of these companies should combine forces?
I spoke with WPRT's investor relations manager and he relayed the voting materials will be out in mid Feb. and the deal will close just three days later. He said he is more than confident that FSYS shareholders will approve it. I am flabbergasted why shareholders would vote for something so outrageously unfair - most notably, activist hedge fund Becker Drapkin (FSYS' largest shareholder). Any way you slice it, this apple is rotten to the core.
ME TOO. But no one LIKES to hear bad news.
There is lots of BAD NEWS coming for CLNE.
ME TOO. But no one LIKES to hear bad news.
There is lots of BAD NEWS coming for CLNE.
If you post on Yahoo Finance you can give "Thumbs UP" or "Thumbs DOWN".
I POST BECAUSE I CAN !
My apologies to Descartes.
It is all over, the Petroperu vote didn't matter, the share holder vote didn't matter, and all of your money is gone. Billions were squandered, and so much potential has vanished to the Cayman Islands.
Maybe they will go public again someday, and we can all play along. I hate it when an ATM goes away...
WPRT WON"T EXIT IN 2 YEARS !!
Let alone be around in 3. The company has never made a profit, and now with oil under $50...it is only a matter of time before DEMERS destroys the remaining value.
And they can't even walk away from the lousy FSYS deal, because they can't afford to pay the $5.5 million break-up fee!!!
WHY HAS WPRT FALLEN FROM $40 to $1.50?
If 2016 is to be great because near-zero emission vehicles are coming, why are WPRT and FSYS at all-time lows and going Bankrupt in 2016?
It must be because NGV's are such a great business.
WPRT couldn't make a profit when oil was $100 !
Their business model doesn't work, regardless of the price of oil.
This is why WPRT has gone from $40 to $1.50. Smart investors realize there isn't a real (legit) business there.
OUCH !!! I BET THAT HURTS !!!
There may be a PUSH, but there is no PULL.
NGV's sales are dropping, rate of growth in every phase of NGV's is slowing, including fuels sales.
The magic is gone. Gasoline and diesel are much cheaper.
This is a Vancouver PUMP & DUMP. You can even Google the term.
This company is as legit as BREE-X.
BTW : WPRT is down 90+%; Oil is not. Lame, but nice try.
WPRT and FSYS are both going to zero.
Since their phones are going to voicemail, I am guessing that the merger is off, and / or institutionals are dumping.
There is nothing left for the shareholders.
$0.00
What are the assets worth after liabilities and debts are covered?
Less than $0.00? Common shareholders will get nothing, the shares are worthless.
TOILET PAPER.....
The best use of your BPZ shares in 2016!!!
Just cause of that comment, I'll continue to hold..
Boy, that will sure show me who's boss !!!
"Why is this board so quiet? Am I missing something?"
Yes, you have missed the boat. Unless you are and insider or a short, this is a stock for losers.
BEND OVER !
Dec. 28
To our Stockholders:
Each of the boards of directors of Westport Innovations Inc. (?Westport?) and Fuel Systems Solutions, Inc. (?Fuel Systems?) has unanimously approved a strategic transaction for the combination of Westport and Fuel Systems, as described below (the ?merger?). Fuel Systems is sending you this proxy statement/prospectus to invite you to attend a special meeting of Fuel Systems stockholders being held to vote on the merger and to ask you to vote at the special meeting in favor of adopting the agreement and plan of merger.
The Merger
Westport and Fuel Systems entered into an agreement and plan of merger on September 1, 2015 (the ?merger agreement?) pursuant to which, subject to Fuel Systems and Westport stockholder approval and certain other customary closing conditions, Fuel Systems and Westport will combine their businesses through the merger of Whitehorse Merger Sub Inc. (?Merger Sub?) a newly formed, wholly owned subsidiary of Westport with Fuel Systems, with Fuel Systems thereupon becoming a wholly owned subsidiary of Westport.
UP ON 400K SHARES LOL
Yes, everyone is scrambling to get into the one bagholder lifeboat, but it is way to late. MHR is sunk, insiders are the only survivors.
Brenda is propagating FALSE HOPE !
S-3 : CAN YOU SAY DILUTION? !!!
So you have given up on WPRT going up except in bumps?
The 3 year DOWN trend supports this thesis... $40 DOWN to $2.00 is quite the free-fall.
If my business success / survival was as linked to growth as this one is then I would not be tell the world that my growth had slowed either.
No with gasoline and diesel prices making conversion economics less attractive I think the entire niche is in trouble, and many won't survive 2016.
25% DILUTION
Major note due
Losing critical bids (like Miami-Dade), are all major downside catalysts.
DEAD CAT BOUNCE; HEAD FAKE; BEAR TRAP; FOOL's RALLY
theguy110 Monday, 12/21/15 11:12:28 AM
Re: None
Post #
2119
of 2122 Go
this stock will run huge they have a billion in asssets the bankrupctcy was a fraud there is value here..
FALSE HOPE !
There is plenty of time for you to AVERAGE DOWN at these levels...
DEEEEEEP in the Money !!
Shorts must be DEEP in the MONEY !
Longs?....NOT SO MUCH !
More Short Covering? LOL
A New Week..A New 10 YEAR LOW !
Covered a little this am, but I will let some options ride...just in case there is big downside news...
That's FUNNY !!!
Do you do STAND-UP?
DON'T TRUST people spreading FALSE HOPE.
These are the same posters who told you this was a GREAT INVESTMENT, and to TRUST GARY, and that THEY CAN EXECUTE.
MHRCQ MANAGEMENT's interest are now directly opposed to the shareholders'.
FALSE HOPE !
Don't believe the posters who are pumping residual value to common shareholders... There is and will be NONE.
2016 will be great fun...
Oil stays UNDER $50.00/bbl, conversion economics extend beyond 5 years and ROI's go negative...
The $150 million Note comes due
The ATM raises only $50-70 million and DILUTES the existing shareholders by 20-25%
We win Miami-Dade which gives us relevance, but loses money.
We LOSE Miami-Dade which proves we are no longer relevant, but we don't lose as much money,, so that we linger on life support a little longer.
NO, "VTEC" did NOT make it into the budget.
Cruiser Said: "Just looked at their filings. Evans and his cronies dumped 70,000 shares Monday. A day before filing bankruptcy..??? Didn't Martha Stewart get jail time for something similar..??"
Yes, insiders DUMPED just AFTER pumping the stock with the positive press release !
No, Martha Stewart did NOT go to prison for insider trading, that earns you a slap on the wrist. Martha went to Federal Prison for perjury related to a Federal investigation of insider trading. If she had just said maybe I did, she would have easily walked.
Everyone needs to familiarize themselves with BPZ, BPZRQ.
NYSE E & P company, delisted, Chpt. 11; CEO looted the valuable assets.
SHAREHOLDERS left holding the BAG. The same will happen here.