Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Could see an intra-day climb but I think we'll see a similar decline tomorrow.
This was somewhat predictable. The run up the past few days had no basis in which it ran.
I'm a little concerned the action these past 3 days has been so wild. When I look at the company I work for, we do 7x more in revenue than them. Yet based on the current PPS of $5.80 they're valued at approx the same value as the company I work for. We're also in very similar industries. I'm playing it cautious and taking my profit here. I'll definitely get back in if I see it cool off and trade on fundamentals. P/E is at 50x!
Somebody is racking up some shares. Institutional buying? Hard to tell....
Looks like 90 day moving average around $4. Which I believe is how they calculate the offering price.
So $15 mill/ $4 = 3.75 mill shares offered. Approximately.
Waiting for this to come back down some before buying more. Nate mentioned they have not made a decision yet whether they'll be releasing a PR regarding the new placement.
P/E is at 45x. I'll be surprised if the pps maintains $5 the whole week.
Yea, my first thought was either inside buying or institution.
Wow. What's going on this morning...
Wow... that's disturbing.
No idea. Thought it might be for an acquisition until I read this....
USE OF PROCEEDS
We estimate that our net proceeds from the sale of shares of our common stock by us in this offering will be approximately $ million, after deducting underwriting discounts and commissions and estimated offering expenses payable by us. We will not receive any proceeds from the sale of shares of common stock by the selling stockholders if the underwriters exercise their over-allotment option. We expect to use the proceeds from this offering for expansion of our sales and service team to match the demand for our product in regions where recent legislation passed, requiring the use of our technology, and for other working capital purposes. We may also use a portion of the net proceeds to fund possible investments in, or acquisitions of, complementary businesses, solutions or technologies. We have no current agreements or commitments with respect to any investment or acquisition. In addition, the amount and timing of what we actually spend for these purposes may vary significantly and will depend on a number of factors, including our future revenue and cash generated by operations and the other factors described in “Risk Factors.” Accordingly, our management will have discretion and flexibility in applying the net proceeds of this offering. Pending any uses, as described above, we intend to invest the net proceeds in high quality, investment grade, short-term fixed income instruments which include corporate, financial institution, federal agency or U.S. government obligations.
I confirmed with Nate. They're looking to raise an additional $15 mill. Not sure if this is all at once or over a period of time.
Did you see the S-1 filing?
The bid/ask is so wide. Weird action here...
Action yesterday could have been related to the new EPA regulations Obama passed. More gas production.
Never mind, I got it....
http://www.sec.gov/Archives/edgar/data/1289636/000109690614000738/profireexh991.htm
Are you able to view the guidance numbers? The pdf doc. won't download for me.
Thanks.
Any guess on FY2015 numbers?
Looking forward to it. Predicting revenue guidance of $45-$50 mill next year.
I enjoy hearing your comments newmedman. I agree with 90% of what you have to say.
I'm sure we'll see some more covering in the last 10-15 minutes today.
Agreed. I've been adding to my position over the last month or so. I sat on the sidelines watching Flotek Industries (FTK) go from a $4 stock to $25. Kicked myself for not getting in and definitely don't want the same to happen with PFIE. The company has the long term potential to be a blockbuster.
I agree with the M&A. The Brazil distributor hasn't really materialized so lets hope we see something out of the Australia one.
.... I think the patented briefcase was a travel demo kit to display the BMS to customers. My company has something similar for our valves and actuators.
I'm curious to know how sales of the actuator are going. It's only been one month since they released it but, just curious.
Correction, its 90 days from 3/31.
Nate got back to me. It's 75 days from March 31st. I'd expect it not until Friday, June 13th.
I emailed Nate in IR to ask. He's pretty good at getting back to me fairly quick.
+300k volume today. Somebody picked up some shares.
Since they're now on the NASDAQ, does this mean we'll see accelerated filing during 2014? Earlier 10K and 10Q release dates relative to OTCBB?
Back in PFIE at 3.34. Sold out initially at 3.85 and was able to increase my position by 62% at the current PPS. I know this stock isn't as entertaining as the MJ's but this is more of a 2-5 yr hold. One of those companies you add to your portfolio and forget its there.
I have some beer money to continue playing around with those MJ stocks. They're pretty entertaining.
Already has one.
They updated the home page of the website... http://www.mcig.org/
Can't tell what that is?
Yahoo Article: Poll: Nationwide marijuana legalization inevitable
DENVER (AP) -- Nationwide marijuana legalization seems inevitable to three-fourths of Americans, whether they support it or not, according to a new poll out Wednesday.
The Pew Research Center survey on the nation's shifting attitudes about drug policy also showed increased support for moving away from mandatory sentences for non-violent drug offenders.
The telephone survey found that 75 percent of respondents — including majorities of both supporters and opponents of legal marijuana— think that the sale and use of pot eventually will be legal nationwide. It was the first time that question had been asked.
Some 39 percent of respondents said pot should be legal for personal adult use. Forty-four percent of those surveyed said it should be legal only for medicinal use. Just 16 percent said it should not be legal at all.
The responses come as two states have legalized recreational marijuana, with more than 20 states and Washington, D.C., allowing some medical use of the drug.
"It's just a matter of time before it's in more states," said Steve Pratley of Denver, a 51-year-old pipefitter who voted for legalization in Colorado in 2012.
Pratley, who did not participate in the Pew survey, agreed with 76 percent of respondents who said people who use small amounts of marijuana shouldn't go to jail.
"If marijuana isn't legalized, it fills up the jails, and that's just stupid," Pratley said.
Legalization opponents, however, drew a distinction between making pot legal for all and thinking that pot users belong in jail.
"It's an illegal drug, period. I don't see it spreading," said Laura Sanchez, a 55-year-old retiree in Denver who voted against legalization. She agreed that pot smokers don't belong in jail, but she disagreed with legalization.
"I've seen no proof that it's good for anybody," said Sanchez, who also did not participate in the survey.
The poll suggested that despite shifting attitudes on legalization, the public remains concerned about drug abuse, with 32 percent of those surveyed calling it a crisis and 55 percent of respondents viewing it as a serious national problem.
And a narrow majority, 54 percent, said marijuana legalization would lead to more underage people trying it.
As for mandatory minimum sentences, public attitudes have been shifting for years.
In 2001, the survey was about evenly divided on whether it was a good thing or bad thing for states to move away from mandatory minimum sentences for non-violent drug offenders. In 2014, poll respondents favored the move by a nearly 2-to-1 margin, or 63 percent to 32 percent. The other 5 percent either didn't respond or said they didn't know.
Public officials are well aware of the public's shifting attitudes on drug penalties.
Just last month, U.S. Attorney General Eric Holder testified in support of proposed sentence reductions for some non-violent drug traffickers in an effort to reserve the "the harshest penalties for the most serious drug offenders."
"Certain types of cases result in too many Americans going to prison for too long, and at times for no truly good public safety reason," Holder said last month at the U.S. Sentencing Commission.
Drug legalization activists said the Pew results come as no surprise.
"We see a growing bipartisan recognition that mandatory minimums went too far and did more harm than good," said Ethan Nadelmann, head of the New York-based Drug Policy Alliance, which opposes criminal penalties for non-violent drug users.
Marijuana legalization opponents saw signs of hope in the survey, too.
Kevin Sabet, co-founder of Smart Approaches to Marijuana, which opposes pot legalization, pointed to the fact that 63 percent said it would bother them if people used marijuana openly in their neighborhood.
"Saying that we don't want people to serve prison time for marijuana is very different from saying I want a pot shop in my neighborhood selling cookies and candies and putting coupons in the paper," Sabet said.
The poll of 1,821 adults was conducted Feb. 14-23. The survey had a margin of error of plus or minus 2.6 percentage points.
___
Kristen Wyatt can be reached at http://www.twitter.com/APkristenwyatt
1 month chart shows a double bottom reversal coming if we break 90.
1 mth chart is showing a double bottom. If this breaks 90 we could see it break well past a dollar.
Shorts were covering at the close. No sellers to be matched which made it pop.
Based on what info...?
I don't know any companies that have done an R/S prior to uplisting. Why would you? Reduces the PPS and EPS. Not necessarily a good thing.
mCig Twitter post 4 hrs ago:
mCig, Inc.™ ?@mCigs 4h
Dr. Khary Bryan, Patrick Lucey, and Mark Linkhorst are on their way to @Oaksterdam for an @CNBC interview with @Janewells
Great news!
SA Author Twitter post yesterday:
Charles Moscoe ?@charlesmoscoe 19h
@Invest420 @JasonShubnell I've been in contact with the CEO Paul Rosenberg and he is formulating a formal response which will be posted.