Fred didn't sell his entire position. His comments I believe we're "tongue in cheek.". Too hard to get rid of the old dog you've fallen in love with.

Have a hunch Andy is hearing and feeling the frustration. He likes being private and not having to answer to shareholders or, spendIng the funds on full scope audits. However, I feel he appreciates the share owners commitment and loyalty and thus may be a little more forthcoming with Co information. We'll see.

My opinion only with nothingnto base it on. Do your own due diligence.

Agreed, Thunder. Hard to invest looking in the rear-view mirror. Just because something goes up in price doesn't mean you should like it more, or vice-versa. The purchase decision is based on whether you either gain current utility from the purchase or, expect to in the future.

Regardless of recent performance, I continue to believe UGSI is well managed and undervalued. The industry and competition didn't exactly tear things up in 2013. Take a look at our indusry leader (and potential suitor?) AEGN. Still a lot of headwinds out there until the economy and municipal finances turn around. Granted, I've thought this before but, we could be having an accumulation opportunity of a liftime for UGSI. Presently boring, but may still be beautiful!

Good buy Pipe, even if you paid .155. Looks like only 2k shares traded today at .15. Wish I could have been there with you. Had a 100k order in at .15 all week myself and then took it out yesterday. Sometimes when you show some interest below the bid, others buy in above you and let you provide the support beneath them.

Welcome to the Board, Thunder! Great insight, knowledge and perspective. I appreciate your time and input.

The Company is private (can't say anything) and now, so are the shareholders!

Noticed where Mark Smith is still listed as a "key executive" on the UGSI Yahoo profile. Someone PLEASE tell me this is terribly outdated.

I agree, Fred. These larger blocks have gone through the last couple days mostly on and below the bid so someone (NES?)is anxious. The increased volume (compared to the last month) has come out of nowhere. If anyone wishes to add to their position here or at lower levels, it appears you could get your chance.

My opinion only with absolutely nothing to base it on. due you own due diligence.

LinkedIn presence

http://www.linkedin.com/company/underground-solutions?_mSplash=1

Stock down early to almost .16 with a fair amount (comparatively speaking) of shares changing hands today. Market finished down and UGSI firmed at the close to finish unchanged. Had every opportunity to break support levels and didn't so could be an encouraging sign. Others could be lurking, waiting to buy in on weakness. interesting.

My opinion only and have nothing to base this on. Do your own due diligence..

NES will obviously need cash to remain current on debt payments and, to avoid bankruptcy. Their 40 mil UGSI shares will most likely be on the block soon in the form of a private placement. The entire block would probably fetch approx .16/share. Would it not behoove UGSI to buy this back even if it meant incurring $6.5 mil of bank debt? Hard to speculate when we have no clue regarding their financial position.

Q3 Shareholder Letter

November 7, 2013

Dear UGSI Shareholder,

The third quarter was a bit of a mixed bag for Underground Solutions. Revenue increased 7% over the same period in 2012, and is up slightly more than 15% year-to-date. Third quarter revenue declined in the infrastructure business, but was more than offset by revenue gains at UGSI ChemFeed (which reported three months of revenue in the third quarter of 2013 versus two months in 2012). As you will recall, UGSI ChemFeed was acquired from Siemens Industry, Inc. on August 1, 2012. Although third quarter infrastructure revenue declined, there was no decline in Fusible PVC™ pipe construction activity. We fused approximately the same amount of pipe (by weight) in the third quarter of 2013 as in the same period last year. In other words, the decline in third quarter revenue was more reflective of the timing of pipe shipments, not a decline in business activity.

Bookings for the year increased by more than 20% on a group-wide basis. While the infrastructure business leads the way in bookings, UGSI ChemFeed has made a significant contribution to our year-over-year growth. Infrastructure bookings declined in the third quarter, but are ahead of last year’s pace through the first three quarters. Third quarter bookings in the Fusible PVC™ pipe business were adversely affected by delays in anticipated project awards and delayed bids on several large ($500,000 plus) projects. We are optimistic that most of those projects will move forward with bidding and award in the fourth quarter and we are well positioned to win them when they do proceed. In fact, so far in the fourth quarter we have booked several of the large projects originally included in our third quarter projections. Mobile Pipe’s third quarter bookings were slightly higher than last year and, with backlog up 28% over last year, Mobile is well positioned for the fourth quarter as our investment in sales and marketing, particularly directed towards the oil and gas industry, begins to bear fruit.

Although infrastructure revenue declined during the quarter, infrastructure backlog increased by over 40% versus the same point last year. That means the infrastructure business is set up well for a solid fourth quarter. The delay in booking projects originally forecasted for the third quarter will, however, mean that some anticipated revenue from those projects will be delayed into the first quarter of 2014. UGSI ChemFeed entered the fourth quarter with its highest backlog to date and is forecasting strong revenue growth in the fourth quarter of 2013.

I am particularly pleased to report that, for the second time in three years, a project using Fusible PVC™ pipe has been awarded the Project of the Year Award by Trenchless Technology Magazine. In 2010, the Project of the Year for Installation was awarded for a 5,365-foot, 24-inch Fusible PVC™ pipeline installed via horizontal directional drilling (HDD) beneath the Raritan River in New Jersey. This year, the Project of the Year for Rehabilitation was awarded to our long-time customer, Consolidated Mutual Water Company of suburban Denver, Colorado, for its innovative (but not groundbreaking!) pipe bursting program. Over the past four years, Consolidated Mutual has installed more than 123,000 feet of Fusible PVC™ pipe (6-inch and 8-inch) via pipe bursting. Long-time readers of this letter know that pipe bursting is the most physically demanding installation application for any type of pipe material. Our pipe has performed superbly throughout this multi-year replacement project. As utilities and municipalities search for ways to save money while still delivering first-class service to their customers, the example of Consolidated Mutual’s successful pipe bursting program using Fusible PVC™ pipe will yield future benefits to UGSI. You can see the full Trenchless Technology article announcing the award by clicking on the link below.

While not quite as significant as winning the Project of the Year Award for the second time, I am equally pleased to announce that Fusible PVC™ pipe has now been installed in all 50 states (not to mention a few territories and possessions)! We achieved this milestone in October when an installation of 2,280 feet of 8-inch Fusible PVC™ pipe was completed in Maine via pipe bursting.

Last, but certainly not least, we continued our international licensing activities in October when we hosted three representatives of our new Australian licensee for two weeks of intensive training in the fundamentals of Fusible PVC™ pipe. Among other activities, the trainees had the opportunity to observe preparations for several installations of Fusible PVC™ pipe at a project underway in Bradenton, Florida. The total project involves the installation via HDD of more than 28,000 feet of Fusible PVC™ pipe in sizes up to 20-inches for a reclaimed water project in Bradenton. I can report that our Australian guests were duly impressed by the quality of our products and the breadth of our technical and engineering capabilities.

As we enter the final quarter of the year, we continue to believe that we are well positioned to close out the year strongly across all of our businesses. Equally as important, if we are able to land the Fusible PVC™ pipe projects delayed from the third quarter, we should end the year with a very strong backlog going into 2014. We are, however, mindful that as the number of large-dollar project opportunities increases, our ability to accurately forecast quarterly results will correspondingly decrease. This is because large-dollar projects often experience unpredictable delays in bidding, award, and execution that do not similarly affect smaller projects. That will be a nice problem to have!

Thank you for your continued support.

Sincerely,
Andy Seidel
Chairman and Chief Executive Officer

Trenchless Technology Project of the Year Award Link: http://www.trenchlessonline.com/index/webapp-stories-action/id.2668/

Good read from the website if you haven't already seen it. Someone may have even already posted. If so, my apologies.

http://trenchless-australasia.com/news/iplex_partners_with_underground_solutions/082949/

Q3

Believe we may see a contraction in revenue growth, margins and order backlog in Q3. My primary assumtion is the ever-increasing entitlement spending on the federal, state and local levels is crowding out investments in infrastructure. If the 80's trickle-down economics was [supposedly] a failure, current trickle-up economics is proving to be an even larger one. JMK may have been spot on when he said "in the long run, we are all dead." Hope not.

Good buy, Fred.............I think/hope/pray

Don't believe we have the capital to bid on the Siemens business. Too much, too soon to finance internally. Doubt if we have an available credit facility currently available to us either.

Email me sometime. Would like to talk...louky220@yahoo.com. Will be out of the country all next week.

Great find, Fred! That being the case would it not behoove UGSI to make NES an offer to buy back the UGSI shares they hold rather than have NES dump them on the market? NES could obviously use the cash and you would think UGSI would like them back at a somewhat below-market price. A "win-win" in my opinion.

Please be advised Sewer Dog will most likely think this is again, "BS."

That is a lot of shares (overhang) Fred, especially when considering the avg daily volume. However, I don't believe it will impede our positive momentum. Even at .30, 200k shares represents only a $60k investment. We are breaking out of a trading range for a reason. Like I stated previously, if you want a block of shares, you better be prepared to pay above current market.
_______________________________________________________________
I have a position in this company. Please invest after careful evaluation and, at your own risk.

From an industry trade journal.............

UGSI revamps Siemens chemfeed business as sales rise

Published 8th August 2013

A dramatic turnaround in the chemfeed business acquired from Siemens last year enabled Underground Solutions to boost first-half revenues by 21%, whilst accumulating a record backlog going into the third quarter.

“The UGSI ChemFeed team has done an outstanding job of dramatically improving the on-time delivery and quality of the group’s products and is quickly rebuilding the trust of the group’s independent sales channels,” wrote CEO Andy Seidel in a letter to shareholders late last week.

Average quarterly sales for UGSI ChemFeed in each of the first two quarters of 2013 were more than double those recorded in Q4 2012, and that has helped smooth out some of the seasonality inherent in UGSI’s construction-driven infrastructure businesses.

The company is also expanding geographically, signing a new licencing agreement with a leading pipe supplier covering the Australian market at the end of Q2, and initiating similar negotiations in India and South Korea.

_____________________________________________________________

I have a position in this company. Please invest after careful evaluation and, at your own risk. Be further advised that according to Sewer Dog, this may be "BS."

May not be any current demand for shares but certainly doesn't appear to be an over abundance of supply either. This is why the shares traded between .20 to .35 a couple weeks ago, and then a similar pattern yesterday. 45k shs traded up to a close of .25, up from a previous close of .205. To me, this is important since it would indicate that, if you currently want shares in quantity, you have to be willing to pay above current market for them.

Please note I hold a position in this company. Do your own due diligence prior to investing.

H2odan

Please don't give up the ghost just yet. This is not a sinking ship. If you must, just put the shares under your pillow and forget about them. Do not sell! We are a pink sheet and consequently unloved, undiscovered and under-appreciated. Give it a another year or so. If you must sell, let me know. I may currently be interested in buying a block at .20.

Try to hang on. Patience will be rewarded.

Sewer Dog........"BS"......REALLY????

No apology necessary. You have been put on ignore. I don't have time for you. Go do your chores!

August 2, 2013
Dear UGSI Shareholder,
Underground Solutions rebounded strongly from a relatively slow first quarter to finish the first half of 2013 with a 21% increase in revenue over the same period in 2012, and a record backlog heading into the third quarter. The UGSI ChemFeed business, acquired from Siemens late last summer, made a significant contribution to our first-half results.
Cold and unpredictable weather in much of the country that persisted into early April adversely impacted first quarter infrastructure (Fusible PVC™ pipe and Mobile Pipe) revenue as construction projects were deferred, resulting in delayed pipe shipments. Similarly, our Canadian licensee reported lower sales of Fusible PVC™ pipe due to weather conditions throughout much of Canada. As a result, first quarter revenue in the infrastructure business declined by approximately 30% from the unusually robust results in the first quarter of 2012. Including UGSI ChemFeed results, first quarter revenue was about even with last year. First quarter infrastructure bookings were also down from the year earlier period, but increased by more than 15% for UGSI overall (including UGSI ChemFeed results).
Despite the slow start, the infrastructure business ended March well positioned for a strong second quarter. That is exactly what happened as infrastructure revenue recovered to near 2012 levels for the first half and total revenue increased by 21%. Moreover, infrastructure group bookings for the second quarter increased by 20% to help build a record quarter-end backlog, positioning the group for another strong quarter. Including UGSI ChemFeed, total second quarter bookings increased by 35%.
The performance of UGSI ChemFeed offset some of the seasonality of our construction-driven infrastructure businesses. Average quarterly sales for UGSI ChemFeed through the first two quarters of 2013 were more than double those recorded in the fourth quarter of 2012, the first full quarter of UGSI’s ownership of the business. The UGSI ChemFeed team has done an outstanding job of dramatically improving the on-time delivery and quality of the group’s products and is quickly rebuilding the trust of the group’s independent sales channels. This solid business foundation will provide a reliable base from which we expect to expand our product offerings.
The housing recovery appears to be making a positive contribution to the Fusible PVC™ pipe business in select markets. For example, in Florida we booked almost 100 projects in the first half, including a single multi-million dollar project. During the same period in 2012, we booked about 50 projects in the same region. If, as we believe, the underlying factor in this upswing is housing it would be a welcome change from the last five years. As we have stated previously, our business is not dependent on real estate development, but a housing “tailwind” could prove very beneficial.
2 | P a g e
Similarly, we see undergrounding of utilities as another significant growth opportunity. We booked a million dollar-plus power cable conduit project in the second quarter, which we believe will establish a model for future conduit opportunities now that we have reclaimed the rights to this market in the U.S., which had been licensed to a conduit manufacturer.
Mobile Pipe has a strong order backlog and continues to benefit from the growth in the oil and gas industry. Our investment in sales and marketing for Mobile Pipe, initiated in late 2012 and accelerated during the first quarter, is already beginning to bear fruit. For instance, Mobile Pipe hosted an open house in March attended by more than 75 utility personnel and design engineers.
Finally, we also expanded on the international front. At the end of the second quarter we signed a new license agreement with a leading pipe supplier covering the Australian market. We also opened negotiations towards establishing licensees in both India and South Korea, and we renewed the very successful licensing arrangement with our Canadian licensee for a second five-year term.
Though we would have much preferred a mild winter and an early start to the construction season, as we experienced in 2012, we are very pleased with our robust recovery in the second quarter and the positive contribution made by our UGSI ChemFeed unit. More importantly, record backlogs across all of our businesses bode well for a solid third quarter and second half.
Thank you for your continued support.
Sincerely,
Andy Seidel
Chairman and Chief Executive Officer

Fred--I totally agree...........Q1 was lackluster followed by strong orders/backlog in Q2. Can't agree with your .17 pps prediction though. Still hope you are right because I would welcome some additional shares at that level!

Even though Q1 lackluster, it still doesn't explain why the Q1 letter was delayed. Andy has been consistent in regular quarterly reporting even if he had to report disappointing results. He has always been open in this regard. This is why I think it (the delay)had to be something more material than that.

This is obviously a speculative investment. Please evaluate accordingly and invest at your own risk.

Don't have a clue why Q1 was delayed other than speculate like many of us already have on this board. Most likely reason in my opinion, would be that it had something to do with being in the middle of a discussion concerning either a big order, business combination, audit issue........you name the possiible event. Much easier for Andy to go into the appropriate detail when the time is right. This is the main advantage of being private.

The stock price so far this week is telling us the Q1/Q2 state-of-the-company report may not be all that great. Stay tuned. We should know more by Monday.

Appears we have either hit a brick wall or, have a case of the summer doldrums. In any event, we should have a combination Q1/Q2 shareholder letter in a couple days.

Agreed, doesn't mean anything from a volume standpoint however, someone wants shares even if there is no supply. More and more beginning to think this is linked to the delay in the shareholder letter and means something material will be announced

$0.35......sweet!! Even if only on a volume of 18K, we'll take it.

Doubt it. Most likely candidate IMO would be AEGN . Also, AEGN is very familiar with our UGSI.

Agreed. Can't wait! The days in the teens should be history?

Key will be finding a seller @ 0.18 or less. I will be happy to fill the buy side.

Surprisingly, there seems to a a reduction in supply of shares available, even at these higher levels. If this is not a temporary aberation, we're headed further north.

Pls exercise caution and due diligence before investing.

<< Once the shareholder letter comes out, I will bet, shortly after, or earlier, stock will trend down. We all know how this stock acts! I think $0.155 will be my opportunity to add to my position (have order in to buy 20k, all or none gtc). All the speculation about something happening will eventually turn out to be absolutely nothing...10 + years and holding--why no pressure on Andy and the board to do SOMETHING!! Why?>>

Fred--I think something is indeed brewing and the $0.155 days for UGSI are most likely, never to be seen again. Think about it. The periodic Q1 shareholder communique is delayed. We are then told 60+ days after the end of the quarter that the Q1 and Q2 letters will be combined and disseminated later in July. To me, this means there is another acquisition or deal in the making. If there is such an event and judging from the firming of price lately, it is being interpreted as a positive.

This is only conjecture. Please perform your own extensive and independent due diligence on this company.

.155.............really? Don't hold your breath. I'll be very surprised if you see .19. Good luck though.

Why do you think below .20, Fred? The bid was at .20 all last week with a lot of demand (open orders) there. Believe that is our new base and " normal. ". Granted, I don't know where the .25 came from. Someone wanted a block of shares without piddling around. My guess is we will see some backing and filling between .205 and .23 before we can head higher. Ergo, i will be shocked if we trade below .20, and feel we will end the year between .27-.30. Just my opinion. I have absolutely nothing to base this on.

Private companies involve substantial risk. Perform your own substantial due diligence prior to investing.

You may also want to research AEGN also as a way to participate in the aging infrastructure. Probably the leader in the industry. Please be advised I own these shares and expect to continue to accumulate. Exercise comprehensive due diligence prior to investing.

Check out article below!!

http://www.cnbc.com/id/100813305

UGSI PPS firming, NES PPS declining and a delayed shareholder letter. Hmmm. Could 1+1+1 possibly equal three?

<<no yours is definetly broken, you said we would have an update in 50 hours, that was 2 weeks ago.>>

Yes, I was definitely wrong on that one. I had a hunch and obviously was off by a couple weeks. Now we have to wait until July for the official Q1/Q2 status report.

The .15 PPS days are over in my opinion. Support should now be at the .17-.18 level.

Mine too!

Pipeliner--thank you for taking the time to share your thoughts, insights and industry perspective. I appreciate your input.

Andy likes being private for a reason and I feel we have to respect that. We knew this going in. No one forced us to buy shares. I continue to believe we will eventually be rewarded and is why I continue to accumulate on dips.

I'm puzzled by the silence as well. The team may be putting the final pieces of another acquisition in place that either begin just prior to, or right after the end of Q1. Not much help I realize, but it's my only conjecture at this point.

Better not. Was thinking through the end of 2013, especially since I boosted your offer to .20 on the upside. I do like your 10k stipulation on the volume though.