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"I think you have problems with Michael Fischer, not NowAuto"
True. But how much does Fischer pull the strings of Miller? I don't know. I am a shareholder of NWAU and hope that we can trust management projections. I found this dirt on Fischer and thought enough to bring it up for discussion over the 3 day weekend. No idea about this "watchdog111" guy (moniker created today), but I don't consider myself an "idiot" for bringing up a concern on a pinksheet stock I own.
NWAU-any comments on this?
From what I understand, Michael Fischer is Nowauto's founder and chief shareholder and the guy who hired Scott Miller....the Cossack Group, which paid Lebiz to pump NWAU stock, appears to be owned by Michael Fischer. I encourage you to check the registration of www.cossackgroup.com. The website is not functional, but the domain name is registered to Michael Fischer, 2339 N Hayden Rd, Scottsdale, AZ contact email goinkout@aol.com, administrative email goinkout@aol.com. I searched his email reference, GoInkout. Turns out it was an small office supply company based in Scottsdale, AZ. It appears GoInkOut was founded and run by NWAU's/Cossack's very own chief shareholder, Michael Fischer, operating @ the years 2001-2002.
As you can tell in the links, "googling" Mr Fischer's GoInkOut company yields many disturbing complaints...I didn't find any that shed GoInkOut in a positive light, besides maybe GoInkOut's own glowing business description. The Better Business Bureau of Arizona received numerous complaints against Fischer's operation. Today, GoInkOut is no longer, but it leaves a trail of debris in its wake (see links below). So this finding begs the question: is NWAU for real, days away from filing with the SEC and realized EPS of .30 this year? Or is NWAU just another scam pinksheet stock run by a shady character who stays in the backround? How much of a role does Fischer have? Maybe if they file with the SEC this month, we can see some numbers and all concerns will be alleviated...
GoInkOut business description:
http://internet.pr-archive.com/en/pr51641.htm
Registeration of GoInkOut website:
http://www.alexa.com/data/details?q=&p=ext_pk&amzn_id=fc-20&url=inkout.com
Some of the complaints:
http://72.14.207.104/search?q=cache:PSD1_z2mS_oJ:arizonabbb.org/for_media/news78.asp+inkout&hl=e....
http://69.93.248.132/seller3427.html
http://www.badbusinessbureau.com/reports/ripoff48065.htm
http://www.complaints.com/august2002/complaintoftheday.august24.13.htm
http://www.ripoffreport.com/reports/ripoff23242.htm
http://www.resellerratings.com/seller3427.html
http://www.ripoffreport.com/reports/ripoff13254.htm
http://www.complaints.com/january2003/complaintoftheday.january26.1.htm
http://www.gotapex.com/forums/archive/index.php/t-42986
From what I understand, Michael Fischer is Nowauto's founder and chief shareholder and the guy who hired Scott Miller....the Cossack Group, which paid Lebiz to pump NWAU stock, appears to be owned by Michael Fischer. I encourage you to check the registration of www.cossackgroup.com. The website is not functional, but the domain name is registered to Michael Fischer, 2339 N Hayden Rd, Scottsdale, AZ contact email goinkout@aol.com, administrative email goinkout@aol.com. I searched his email reference, GoInkout. Turns out it was an small office supply company based in Scottsdale, AZ. It appears GoInkOut was founded and run by NWAU's/Cossack's very own chief shareholder, Michael Fischer, operating @ the years 2001-2002.
As you can tell in the links, "googling" Mr Fischer's GoInkOut company yields many disturbing complaints...I didn't find any that shed GoInkOut in a positive light, besides maybe GoInkOut's own glowing business description. The Better Business Bureau of Arizona received numerous complaints against Fischer's operation. Today, GoInkOut is no longer, but it leaves a trail of debris in its wake (see links below). So this finding begs the question: is NWAU for real, days away from filing with the SEC and realized EPS of .30 this year? Or is NWAU just another scam pinksheet stock run by a shady character who stays in the backround? How much of a role does Fischer have? Maybe if they file with the SEC this month, we can see some numbers and all concerns will be alleviated...
GoInkOut business description:
http://internet.pr-archive.com/en/pr51641.htm
Registeration of GoInkOut website:
http://www.alexa.com/data/details?q=&p=ext_pk&amzn_id=fc-20&url=inkout.com
Some of the complaints:
http://72.14.207.104/search?q=cache:PSD1_z2mS_oJ:arizonabbb.org/for_media/news78.asp+inkout&hl=e....
http://69.93.248.132/seller3427.html
http://www.badbusinessbureau.com/reports/ripoff48065.htm
http://www.complaints.com/august2002/complaintoftheday.august24.13.htm
http://www.ripoffreport.com/reports/ripoff23242.htm
http://www.resellerratings.com/seller3427.html
http://www.ripoffreport.com/reports/ripoff13254.htm
http://www.complaints.com/january2003/complaintoftheday.january26.1.htm
http://www.gotapex.com/forums/archive/index.php/t-42986
I occasionally listen to Steve Crowley's radio show "American Scene" because BIPH's CEO is interviewed every few days. I noticed AOBO was added to his paid-sponsorship roster last month, and Crowley talks with their CEO (though a translater) now a few times a week. In addition to this, I noticed AOBO is currently showcased front and center on www.ceocast.com. This recent exposure, plus their announced AMEX intentions (and great fundamentals), is probably accounting for the increasing volume of late.
The website isn't owned by Navicom...www.autodealersgps.com is registered to Mark Muchnick, 3517 SW 98th St., Seattle WA 98126 email: markmuchnick@yahoo.com
Also compare CPTCQ's financing arrangements (bad) vs BIPH's (good). If Biophan's "deal" and equity investment with BSX gets delayed further, they at least have a financing agreement with SBI to fall back on...for $30 million with trenches between $2 and $4 per share. That sort of confidence in BIPH by a respected financier is encouraging and should put a cap in any potential decline in share price ($2, imo)...but, I agree with E-P, I think this "deal" is done, just not yet announced. Nearly 2 years of a joint developement agreement, all Weiner's comments of late, etc-no way it ain't gettin' done very, very "soon."
My 6 picks are:
CHAR.ob, EZEN.ob, HSPR.ob, JMIH.ob, NKBS, VPHM
GMAI is doing well today. Oppenheimer initiated coverage with a "buy" rating and a price target of $16. This is their first non-paid analyst coverage, I believe. Management made some positive comments about this current quarter, so I'm holding on to my shares....it is still pretty cheap in the $11's. Thanks to Hweb2 for mentioning this one a couple of months ago sub-$10.
Jun 24, 2005 (streetinsider com via COMTEX) -- Oppenheimer initiated coverage on Greg Manning Auctions Inc (Nasdaq: GMAI) with a Buy rating; $16.00 price target. According to the firm, GMAI is the largest stamp and coin auction house in the world. They believe stamps and coins represent an attractive but overlooked asset class.
NowAuto to Merge With Fully Reporting Bulletin Board Company and File for NASDAQ Small Cap Listing
PR Newswire - June 23, 2005 09:30
NowAuto Reaffirms Year Guidance to Reflect Improved Outlook for Existing Businesses
SCOTTSDALE, Ariz., June 23, 2005 /PRNewswire-FirstCall via COMTEX/ -- NowAuto (OTC: NWAU) announced today it has elected to merge into a fully reporting company because the management of NowAuto believes it is a more efficient means to become fully reporting and move from the Pink Sheets to increase shareholder value and enhance access to the capital markets. Once on the Bulletin Boards, NowAuto will then apply for NASDAQ Small Cap. The 2nd Quarter (ending June 30th) expects to be audited and filed as a fully reporting company with the SEC. More information about the merger will be announced before month end.
Business Outlook
Based on its improved outlook for the second half of 2005 for its existing businesses, NowAuto is reaffirming guidance for its fiscal year 2005 guidance as follows:
Fiscal Year 2005: New Guidance
Revenue: $25 million
Diluted net income per common share: $0.30-$0.33
This updated business outlook includes any contributions from the recently-announced Sunburst Car Company acquisition. The update also includes the recent growth and orders from wholly owned subsidiary Navicom GPS. The statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. These statements do not include the potential impact of the previously-announced transactions noted above, or any other mergers, acquisitions or business combinations that may be completed after the date of this release.
re: CTTY - Sounds like the CEO thinks CTTY is a good short, commenting on today's trading as "shocking," "totally unreasonable," and that there is "likely to be a pullback." LOL.
DJ Catuity Jumps On Deal With CertifiChecks >CTTY
06/21/2005
Dow Jones News Services
(Copyright © 2005 Dow Jones & Company, Inc.)
By Michael Baron
NEW YORK (Dow Jones)--Shares of Catuity Inc. (CTTY) jumped 328% Tuesday on extremely heavy volume, after the Detroit developer of retail software inked a deal with CertifiChecks, a private provider of gift-certificate processing services.
The stock was recently up $13.30, or 328%, to $17.50 in afternoon action on volume of 7.12 million, compared to the issue's daily average of 20,700. At their peak for the session, the shares reached $22.58, more than double the previous high for the year of $9.10 on Nov. 18.
Financial terms weren't disclosed. The agreement is the first contract for Catuity's Advanced Loyalty System loyalty and gift card software. It calls for CertifiChecks to deploy Catuity's software as a turnkey hosted application to be sold to merchants and chain stores already using CertifiChecks paper-based products.
Deployment is expected early in the third quarter. CertifiChecks, which was founded in 1999, partners with more than 70,000 merchants across the U.S., including Army & Air Force Exchange Service and the Defense Commissary Agency.
John Racine, Catuity's chief executive, said the price action in the stock was "gratifying but shocking" and he was quick to downplay the increase, acknowledging the volume indicates a large amount of day-trading is going on and that there's likely to be a pullback before long.
"We caution investors that there is no single announcement we'll make to get us to profitability," he told Dow Jones. "This is going to be a gradual process."
He did add, however, that the contract is a revenue-sharing arrangement between the two companies, and that Catuity continues to work towards similar deals with roughly 400 prospective clients.
Racine, who was named CEO in September, said Catuity is still in the process of executing a turnaround plan. The company's fortunes changed, according to its Form 10-K filing for fiscal 2004 in March of that year, when Target Corp. (TGT) decided to discontinue use of smart cards and phase-out its participation in Visa's Smart Rewards program.
This, in turn, led to Visa ending the program, and prompted Catuity to switch its focus away from smart cards to point-of-sale software products.
Further evidencing the company's conservative tone during its restructuring, Racine noted that Catuity came to terms with CertifiChecks in April but waited to announce the deal until everything was in place for deployment.
"Nothing short of calamity will get in the way of us going live with this deal," he said. "This isn't about a quick jump in the stock price for us," adding later that Tuesday's jump was "totally unreasonable."
"I know that may deflate the shares a bit but there's just no justification for the level we're at now," Racine said.
Catuity is in the process of acquiring Loyalty Magic Property Ltd., an Australian firm, for $4.35 million, and the closing of this deal is part of the listing-compliance plan it filed with the Nasdaq in April after the exchange determined it was out of compliance with the rule requiring maintenance of shareholders' equity of at least $2.5 million. The company also hired Donohoe Advisory Associates LLC at that time to provide consulting service during this process.
CTTY up from $4 to $20 today-does this look like a good short to anyone?
MDF-
I too received a phone call (today) remindering me to vote my MDF shares prior to the annual meeting. I only have about 5k shares, so it would be a major stretch to call me a MDF "heavy-hitter." But it was definately strange to receive a phone call...
HWEB-are you still holding DCU? Earnings came in a little light last quarter and they haven't elaborated on the Whirlpool partnership since it was announced, so I am not surprised it backed off of the $3's. However, DCU is now down to $2.30....I'm thinking of adding a few more down here. What are your thoughts at this point? Thanks
MDF research report-
Morgan Joseph initiates coverage with a "buy" rating:
http://www.morganjoseph.com/mdf050614r.pdf
tbone58x-you may find this list helpful in finding RFID stocks:
http://www.rfidinvesting.com/RFID/StockLists/InvestingRFID.htm
new AMRE filing 5/23/05:
http://biz.yahoo.com/e/050523/amre.ob10qsb.html
"The Company's operations for the 1st Quarter of 2005 were primarily affected through its subsidiaries, Net2Auction, Inc., and Net2Auction Corporation, RoboServer Systems Corp., Self-Serve Technologies, Inc., and through its 40% ownership of 449 and WDHQ. As of March 31, 2005, the Company owned 51% of Net2Auction, Inc., which owns 100% of Net2Auction Corporation. Net2Auction, Inc. is publicly traded on the NQB Pink Sheets, under the symbol of NAUC. As of March 31, 2005, we owned approximately 47% of RoboServer, while Roboserver wholly owns Self-Serve Technologies. Roboserver is publicly traded on the NQB Pink Sheets under the symbol RBSY."
GMOS down to .72 x .73. Motorcycle dealership. High debt, but a value play with aggressive growth. I think otcbargains likes it?
10Q out. Looks like .02 vs .02 diluted EPS with revs of 10.2M vs 3.8M. Need a boost in EPS in the remaining quarters to meet '05 guidance.
dickmilde-I saw it posted on the BIPH RB board:
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=BIPH&read=52671
OT:
NEW YORK - Legendary hedge fund operator and confrontational television commentator James Cramer has been getting publicity from news that he's working on a juicy Wall Street story: his own biography. But the real dirt might be elsewhere.
In a soon to be released tell-all tale, former Cramer & Company employee Nicholas Maier accuses TheStreet.com's co-founder of using CNBC anchors and his own television appearances to promote stocks that he would promptly sell, making a quick gain on the upswing.
In Trading With the Enemy, to be published this month by Harper Business, Maier alleges that CNBC anchors Maria Bartiromo and David Faber were used like pawns to talk up stocks that Cramer's hedge fund had purchased. He did this by giving them heads-up on analysts' upgrades and downgrades in particular stocks.
Writes Maier: "We were the first firm most brokerage houses told such news [of upgrades and downgrades], and Jim decided to use this early-call status to help the reporters, who all wanted to break a story."
Maier goes on to explain that after the stocks were touted on television, Cramer would promptly dump the firm's position: "No sooner would Maria be thanking us for the help than we'd be getting a payback--a quick hit thanks to our friends at CNBC."
In one case, recalls Maier, Faber called Cramer and immediately Cramer demanded that the firm buy a hundred thousand shares of MCI Group (nasdaq: MCIT - news - people). "There will be news!" said Cramer's colleague to the broker at Goldman Sachs, who also purchased shares. No more than an hour later, Faber went on the air with news that telecommunications giant MCI was rumored to be an acquisition target. Maier admits he does not know what Faber actually told Cramer during their conversation and writes, "Reporters often called us, asking if we could confirm a rumor in the marketplace."
Cramer's own television appearances also were used to intentionally sway the markets in his favor, Maier writes. For example, while Cramer was on CNBC promoting "a great investment for the long term," Maier writes that Cramer's firm was making quick gains: "Our real strategy, however, was all about taking profits now. Back at the office, we were supposed to dump stocks after a quick half-point gain. On TV, Jim would tout a stock we owned, but if it moved up, we would sell."
"Jim would do the opposite of what he was saying on television," Maier told Forbes. Cramer did this behind the scenes too, says Maier. "He would hear rumors, pass them on and then do the opposite," adds the author, who insists that he has the trading documents to back up his claims. Maier worked under Cramer between 1994 and 1998.
Why put himself on the line? Not for a hefty book advance: "Mine is trivial compared with Jim's $1.5 million," says Maier. "My goal is to show people how Wall Street really works. It left a very bad taste in my mouth."
IPII earnings look great:
Imperial Announces 2005 First Quarter Results, Eighth Consecutive Profitable Quarter, And Opening of New Building Materials Distribution Facility
PR Newswire - May 13, 2005 09:43
POMPANO BEACH, Fla., May 13, 2005 /PRNewswire-FirstCall via COMTEX/ -- Imperial Industries, Inc. (Nasdaq: IPII) announced today the results of operations for the quarter ended March 31, 2005.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050330/FLW029LOGO )
The Company generated net income of $831,000, or $.33 per diluted share, in the first quarter of 2005, compared to net income of $362,000, or $.15 per diluted share for the same period in 2004, a 120% increase in per share earnings. Net sales in the first three months of 2005 were $16,592,000, an increase of 39.2% over net sales of $11,923,000 for the same period in 2004. The increase in sales was primarily attributable to continuing strong industry construction demand for Company products. Higher sales volume and greater operating efficiencies produced the improved first quarter results in 2005.
In addition, the Company opened a new distribution facility in St. Augustine, Florida in May 2005 in a continuing effort to increase market share in the Company's rapidly growing trade area. The Company now has eleven building materials distribution facilities and is evaluating the establishment of other distribution facilities in selected markets within the Southeastern United States.
S. Daniel Ponce, Imperial's Chairman of the Board, stated, "The 2005 first quarter results reflect the continued high level of demand for our products in the construction industry and the eighth consecutive profitable quarter for the Company. The Company has completed the installation of the equipment for the plant modernization project for its Winter Springs, Florida (Greater Orlando Area) manufacturing facility, which is expected to impact operating efficiencies by the end of the second quarter. We also believe the new St. Augustine distribution facility will become an important addition to the Company. We remain committed to profitable growth and are evaluating other strategic measures to enhance shareholder value."
NKBS - I listened to the CC as well. They gave a breakdown of EPS going forward: .10 in Q2, .01 in Q3, and .36 (!) in Q4. All these quarter to quarter earnings variations could cause some turbulence (or good trading opportunities), but it looks like a great buy at these levels if guidance pans out. I snagged a few more shares during today's late-session down-draft.
Jacobs was just re-married last month, so I believe it is the EX-Mother-In-Law. This seperates Gerry from the selling even further.
Under $2 = under SBI's final financing trenches. I doubt this will go lower than a few cents of $2, especially after that last pr. Thank God its Friday.
Its really beyond belief what Carwell has been telling people. A month or 2 ago, when I had him on the phone, he was so reassurring that the decline in pps from $6 to $2.50 did not reflect what was going on behind the scenes at CPTC. He said the company had NEVER been in BETTER shape and they were JUST about to announce several SALES in the VERY near term. I almost doubled my position after hearing his optimism, but fortunately I didn't. Wow-are there words to describe this guy?
KTCC breaking out. Finally something nice happening to my portfolio.
NKBS-I just bought some for my mother and brother's account. I rarely buy them stocks, but in this situation, NKBS seems like a "no-brainer" at the $3 level with their guidance and balance sheet. A friend of mine uses their subsidary CrystalTech to host his network of sports-related websites and really likes their services. Hoping NKBS gets back on the radar after the May earnings.
Hweb-I grabbed a few a $3.05. Hoping the low-float fanatics take KTCC for a ride today.
KTCC-$2.20. Pretty good earnings after the bell (.09 vs .01). Guiding for .08 - .12 next quarter. Low float so it may see some action tomorrow. Any thoughts?
Key Tronic Corporation Announces Third Quarter Results
Thursday April 28, 4:01 pm ET
Year-over-Year Quarterly Revenue Up 33% and Over Six-fold Increase in Earnings
SPOKANE, Wash.--(BUSINESS WIRE)--April 28, 2005--Key Tronic Corporation (Nasdaq:KTCC - News), a provider of electronic manufacturing services (EMS), today announced its results for the quarter ended April 2, 2005.
For the third quarter of fiscal 2005, Key Tronic reported total revenue of $49.7 million, up 33% from $37.3 million for the third quarter of fiscal 2004. For the first nine months of fiscal 2005, total revenue was $149.7 million, up 43% from $104.5 million in the same period of fiscal 2004.
Net income for the third quarter of fiscal 2005 was $852,000 or $0.09 per share, up 661% from $112,000 or $0.01 per share for the third quarter of fiscal 2004, and up 74% from $490,000 or $0.05 per share for the previous quarter. For the first nine months of fiscal 2005, net income was $1.6 million or $0.16 per share, up from a net loss of $155,000 or ($0.02) per share for the same period of fiscal 2004.
"We are pleased with our improved operating efficiencies and earnings in the third quarter," said Jack Oehlke, President and Chief Executive Officer. "Our year-over-year growth continues to be primarily driven by increased production on programs for established customers involving specialty printer accessories and components, and gaming technology. In the third quarter, we began production on a new consumer product for an existing customer and expect to start a medical technology program for a new customer in the fourth quarter. We also recently won business from a new customer for hospital equipment, which is expected to get underway in the first half of fiscal 2006."
"To prepare for growth in coming periods, we are adding to our printed circuit board capacity in China and Mexico, and plan to expand our capacity in Mexico by buying the building adjacent to our existing facility in Juarez during the fourth quarter of fiscal 2005. We also are investing in our worldwide printed circuit board operations to ensure compliance with new environmental regulations impacting our industry. The EMS industry continues to grow and we are well-positioned to capitalize on the opportunities ahead."
In the fourth quarter of fiscal 2005, the Company expects revenue to increase 5% to 10% from the third quarter and earnings to be in the range of $0.08 to $0.12 per share.
Key Tronic will host a conference call today to discuss its financial results at 2:00 PM Pacific (5:00 PM Eastern). A broadcast of the conference call will be available at www.keytronic.com under "Investor Relations" or by calling 800-218-0204 or +1 303-262-2211. A 48-hour replay will be available by calling 800-405-2236 or +1 303-590-3000 (Reservation No. 11027377). A replay will also be available on the Company's Web site.
Fountain Powerboats started trading on the AMEX today under ticker "FPB." They were "FPWR" on the NASDAQ Small Cap and continued to meet all the necessary requirements. Why, then, would they desire a switch from the NSC to the AMEX? If anything, it seems a step down in prestige, no?
Fountain Powerboats Begins Trading on the American Stock Exchange
Thursday April 14, 8:00 am ET
WASHINGTON, NC--(MARKET WIRE)--Apr 14, 2005 -- Fountain Powerboats, Inc. (FPB - News), a subsidiary of Fountain Powerboat Industries, Inc. and leading manufacturer of high performance sport boats, fish boats and express cruisers, announced that its common stock has begun trading today, Thursday, April 14, 2005, at the open of market, under the symbol "FPB" on the American Stock Exchange ("Amex"). Fountain Powerboats was previously trading on the NASDAQ-SCM, under the symbol (NasdaqSC:FPWR - News).
"We are pleased to announce the listing of our common stock on the American Stock Exchange," said Fountain Powerboats CEO Reggie M. Fountain, Jr. "We firmly believe this listing will broaden our reach to capital markets, improve shareholder liquidity, increase our overall visibility in the financial community, and enable a wider range of investors to participate in the next phase of growth of our company."
Application to the American Stock Exchange has been approved for Fountain Powerboat Industries, Inc. This approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards.
TGIS-1-time charge will create a loss next quarter.
Thomas Group Announces Subleases of Excess Office Space
Business Wire - April 14, 2005 09:55
IRVING, Texas, Apr 14, 2005 (BUSINESS WIRE) -- Thomas Group, Inc. (OTCBB:TGIS) today announced that it has agreed to subleases involving two of its offices, covering the remaining lease period of offices in Detroit and Reston, Va.
"Subleasing excess office space reinforces our commitment to maintaining a low fixed cost base," said Jim Taylor, CEO. "We estimate these subleases will result in a one-time, non-cash charge of approximately $600,000 under generally accepted accounting principles (GAAP). Although this charge will turn an otherwise profitable first quarter into a loss, we believe it was the proper long-term decision for us to make. Despite the removal of previous subtenants in both offices during the first quarter, we have obtained new subtenants at current market rate. We are focused on generating cash for the company and value for our shareholders, and keeping our excess office capacity subleased aligns with both of these goals."
THK follow-up. Finally got a response from the CEO regarding guidance. Since I am posting his response to me word-for-word, I'd prefer it NOT be re-posted on the RB or THK board...thanks. It's reassuring to see guidance hasn't changed for '05 as I feared.
Josh,
Sorry for the delayed reaction, I have had a lot going on recently both at work and personally. While THK obviously has a lot of moving parts at this point in its development, I still believe that $0.20-$0.25 EPS for 2005 is a reasonable
estimate.
Gerry Jacobs
cyberbub-what is MW plan for "other IPO's in the pipeline?" How will these benefit holders of BIPH stock? Seems, if anything, NaturalNano etc will devert much of management's attention away from Biophan and onto other projects...anyone know what the plan is? Thanks.
THK-the fact that there was no reiteration of the previous .22-.25 guidance concerns me a bit. I'll try to contact the CEO on this matter and see if things have changed. If no, that would mean EPS should show nice increases in the quarters to come...
linuspop/kerouact
HURC looks good but the backlog is down 25% y/y, as per their last earnings pr.
"The company ended the period with a backlog of $9.6 million, down 25 percent from $12.7 million a year earlier."
Maybe people are anticipating slower growth going forward?
More decliners than advancers on the OTC so far today, despite an otherwise broad market rally.
http://finance.yahoo.com/advances
OT: Well, that didn't last long. Freetrade is closing up shop, renaming itself "Ameritrade Izone" and charging $5 commissions. Still cheap, but it ain't free. Oh well.
CNVT-very interesting situation. News just out-last trade .41. Someone mentioned this one a few weeks back...
CVF Technologies Corporation Public Holding - BIOREM Inc. Announces Record 2004 Results
PR Newswire - March 23, 2005 14:33
WILLIAMSVILLE, N.Y., March 23, 2005 /PRNewswire-FirstCall via COMTEX/ -- CVF Technologies Corporation (OTC Bulletin Board: CNVT) holding BIOREM Inc. (approximately 33% owned by CVF, CVF's ownership position is currently valued at $9.5 million (US) or $0.69 (US) per CVF share) has set new records in 2004, with sales up 15% to $9,934,000 (CDN) and net earnings of $972,000 (CDN) up 20% over 2003 before tax loss carry forward adjustments.
"I am pleased with the solid earnings that we have achieved for the third consecutive year," said Brian Herner, BIOREM President and CEO. "2004 was a transition year for the company, during which management successfully prepared BIOREM to become public. It was a period of expansion and growth and the Company's strongest sales year to date with $11.3 million (CDN) of new bookings recorded."
"Although BIOREM Technologies Inc. was still a private company at the end of 2004, the year end results are being released at this time to provide shareholders with full disclosure of the operations." said Herner. For 2004, the financial results of parent company, BIOREM Inc., (formerly Ontario Capital Opportunities Inc.) (OCO), have been reported separately. Financial results for BIOREM Inc. will be presented on a consolidated basis starting in 2005.
On Jan 17, 2005, the transaction with BIOREM Technologies Inc. closed and BIOREM Inc. became a public company
For the twelve months ended December 31, 2004:
BIOREM Technologies Inc
---------------------------------------------------------------------
($000's)CDN
Sales $9,934
Earnings before interest, taxes, depreciation & amortization $1,797
Income tax $381
Net earnings $972
---------------------------------------------------------------------
Net earnings per share
Basic $0.67
Diluted $0.16
Net earnings for the year represent pro forma earnings of $0.10 (CDN) per share based on 10,143,493 shares outstanding after completion of the Qualifying Transaction of the Capital Pool Company on January 17, 2005.
Recent Accomplishments by BIOREM are:
* In 2004, the Company expanded its sales activities in Western United
States, started an industrial business unit and initiated marketing
development for International sales. "The combination of strong bookings
growth and a stronger balance sheet going forward puts the Company in a
position to continue to support market expansion in the rapidly growing
sector of odor control and air pollution abatement," said Herner.
* Orders for ten odor control systems were received from the Western
United States.
* An order was received for the advanced SYNERGY(TM) system in the paint
industry. This will replace a thermal treatment unit providing a
reduction in energy cost and green house gas emissions.
* Initial orders were received for Saudi Arabia and China. These two
regions have extensive plans for the expansion of odor control in their
municipal systems and in most cases have elected to use state of the art
technologies such as that supplied by BIOREM.
* New share capitalization in the amount of $3 million (CDN), before
expenses, was brought into the Company in 2004 through the issuance of
common shares to two new equity fund investors in Canada and the United
States. "The restructured balance sheet as a result of new investment
provided the Company with a more diverse, well capitalized shareholder
base in preparation for the going public transaction," said Herner. An
additional $2 million (CDN) was raised when the company became public in
January 2005. The company is now debt free with approximately $5 (CDN)
million in cash.
I wrote IR an email, asking if there was any negative news causing the pps decline, and asked when the heck we'd start hearing of SALES. Left my email and phone #, and, when I got home today, had a message on my answering machine from James Carswell. He said he knew of no justification for this stock slide, said that things at the company had never been better and the future never looked brighter, and added that sales would be announced in the "very near future," once they became fact. Let's hope so...