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I just sold IBC "IBCIQ" at $4.02 and as fast as I pushed the button it sold. I took my $4,600 profit, due to I don't know what is going on behind these closed doors. This is just so out of the morm that the risk is just too high with the news that is out there at the present time. There is over 27 million shares traded so far today and almost all those shares are trading way above the PPS before they came out with the chapter 11 bad news Wed. Well back to school and learning something new within the trading circle of stocks that release very bad news one day and the PPS goes up the next 2 days in a row. Todays trading is even on a Friday. All I can say is WOW, Walk
Chuck: As many years as I have been trading I have never seen anything like what IBC or now IBCIQ is doing with the PPS yesterday and today. In anticipation of it being delisted and going on the pinks it went down last FRI to around $3.00 for not filing even after already getting an extention on time. I bought 5k shares due to I knew that part had already been figured in the PPS just in case. Well Wed they announce chapter 11 and it gets delisted also the same day from the Dow and taken off the Russell 400. Yesterday it was trading on the pinks and the PPS went up as far as $4.00. Today it is still trading around the range of $3.28 to $3.58. I just don't understand why the PPS is holding up with the delisting to the pinks and a chapter 11 hanging over their heads. I wanted to buy more and figured it would be another HLSH in the making, but that has not happened so far. Either there is some heavy insider knowledge of some kind or some very large money is trying to take over the company sort of like a Corp raider play. We are talking millions and millions of dollars on big blocks going through. Yesterday 11 million shares traded and today over 17 million already. All institutions and funds are required to sell once any company is delisted and on top of that files for chapter 11. This is one for the books and no one I know can figure out what is going on. Would like to get your or some other knowledgable trading persons take on this and if they have ever seen anything like this before. Best regards, Walk
Chuck: As many years as I have been trading I have never seen anything like what IBC or now IBCIQ is doing with the PPS yesterday and today. In anticipation of it being delisted and going on the pinks it went down last FRI to around $3.00 for not filing even after already getting an extention on time. I bought 5k shares due to I knew that part had already been figured in the PPS just in case. Well Wed they announce chapter 11 and it gets delisted also the same day from the Dow and taken off the Russell 400. Yesterday it was trading on the pinks and the PPS went up as far as $4.00. Today it is still trading around the range of $3.28 to $3.58. I just don't understand why the PPS is holding up with the delisting to the pinks and a chapter 11 hanging over their heads. I wanted to buy more and figured it would be another HLSH in the making, but that has not happened so far. Either there is some heavy insider knowledge of some kind or some very large money is trying to take over the company sort of like a Corp raider play. We are talking millions and millions of dollars on big blocks going through. Yesterday 11 million shares traded and today over 17 million already. All institutions and funds are required to sell once any company is delisted and on top of that files for chapter 11. This is one for the books and no one I know can figure out what is going on. Would like to get your or some other knowledgable trading persons take on this and if they have ever seen anything like this before. Best regards, Walk
Chuck: As many years as I have been trading I have never seen anything like what IBC or now IBCIQ is doing with the PPS yesterday and today. In anticipation of it being delisted and going on the pinks it went down last FRI to around $3.00 for not filing even after already getting an extention on time. I bought 5k shares due to I knew that part had already been figured in the PPS just in case. Well Wed they announce chapter 11 and it gets delisted also the same day from the Dow and taken off the Russell 400. Yesterday it was trading on the pinks and the PPS went up as far as $4.00. Today it is still trading around the range of $3.28 to $3.58. I just don't understand why the PPS is holding up with the delisting to the pinks and a chapter 11 hanging over their heads. I wanted to buy more and figured it would be another HLSH in the making, but that has not happened so far. Either there is some heavy insider knowledge of some kind or some very large money is trying to take over the company sort of like a Corp raider play. We are talking millions and millions of dollars on big blocks going through. Yesterday 11 million shares traded and today over 17 million already. All institutions and funds are required to sell once any company is delisted and on top of that files for chapter 11. This is one for the books and no one I know can figure out what is going on. Would like to get your or some other knowledgable trading persons take on this and if they have ever seen anything like this before. Best regards, Walk
I just found this on IBC? Try and figure this one out on IBC today. I am posting what transpired in todays trading and they are buying it in chuncks. I have not seen anything like this before. Filed for chap 11 and was delisted just yesterday and look at this. Walk
IBCIQ -- Interstate Bakeries Corp.
Com (1 Cent)
Primary Venue: Pink Sheets
Best Bid: 3.45 (2500 shares)
Best Ask: 3.50 (100000 shares) *
Date/Time of Last Inside Change: 16:29 * Quoted on the Pink Sheets
Want real-time level two quotes in this security?
TRADE DATA Last Sale: 3.45
Change: +1.35
Percent Change: +64.29
Tick: Down
Daily High: 3.60 Daily Low: 0
Opening Price: 2.10 Volume: 11,431,200
Annual High: 0
Annual Low: 0
Dividend: 0.000 Earnings/Share: 0.00
Previous Close: 2.10 P/E ratio: N/A
Yield: 0.00
Beta Coefficient: 0.00
Last Trade Date/Time: 15:59
Trade data is delayed at least 15 minutes. Best Bid and Ask reflect prices between 8:00am and 4:00pm EST, after these hours the best Bid and Ask at 4:15pm is shown.
IBC filed for chapter 11 this morning. Well took a chance and sometimes you get bit in the butt. It could recover, but will take some time to do so. GL, Walk
Bought IBC at $3.23 this morning and just sold at $3.59 and am going to wait for another big drop to jump in again. Panic is setting in and it can be a good time to take advantage of the situation, but at the same time it is a very high risk play and the bottom could drop at any time. Gambeling, Walk
Just wanted to bring to your attention a possible MOMO play. I consider it a very high risk, but possibly rewarding at the same time. I made a very good profit off this just a short time ago with the problems they are having with finance wise. Symbol is " IBC " which is Interstate Bakeries Corp on the NYSE. They make twinkies, Wonder bread, Marrita Bread and more. This could go on the pinks or even a possible BK lurking in the future. I have played many of these companies with major problems and have been rewarded greatly on 90% of them, but have also been burt by a few in the past. Here is the last news which made it tumble and I expect it to possibly move even further down on some panic until news of their situation surfaces one way or the other. They have until the 26th to show their cards or may become delisted or worse. This was a $16.88 pps and now has dropped to an all time low of $3.47 as of yesterday. Be very careful with this play, because it is only for the investors that could make a lot or be willing to lose a lot overnight. September 13, 2004 11:18:00 (ET)
CHICAGO (CBS.MW) -- Shares of Interstate Bakeries were battered again Monday, losing nearly 11 percent after the company said that its bankers would continue to extend credit to the company -- but under some stiff new conditions including a higher interest rate.
Late Friday, Interstate (IBC, Trade) said that under an amendment to its revolving credit facility, is bank group would let it continue borrowing while it addresses the various issues that delayed the filing of its Fiscal 2004 Form 10-K with the Securities and Exchange Commission.
Under the amendment, the maker of Twinkies and Wonder Bread will have up to $255 million of availability on the revolving credit facility. But the amendment provides for a 0.5 percent permanent increase in it rate -- and Interstate will have to cough up the interest every month.
In addition, Interstate will have to deliver its fiscal 2004 financial statements and audit opinion by Sept. 26 and provide both a weekly cash-flow forecast and calculations showing compliance with the financial covenants under the facility.
If it fails to meet those conditions without waivers before the 26th or if it can't make a deal to for borrowing availability after that date, it "will have to seek alternative financing."
In that case, the company warned, "there can be no assurance that IBC would be able to obtain alternative financing under such circumstances and, if alternative financing is not available, the company will need to consider alternative courses of action that are typically considered by companies in similar circumstances."
Interstate was down 57 cents to $4.74, the latest phase of a pummeling that began in late August when the company said it would delay the filing of its fiscal 2004 numbers. In March, it was trading at $17; it scraped bottom at $4.50 on August 31
slides after new debt warning
September 13, 2004 10:21:51 (ET)
LOS ANGELES, Sept 13 (Reuters) - Shares of Interstate Bakeries Corp. (IBC,Trade) slid more than 12 percent on Monday after the company warned for the second time that it may be forced to seek "alternative courses of action" if it cannot meet new obligations to its creditors.
The maker of Hostess Twinkies and Wonder bread in a statement issued late Friday said its lenders have allowed additional borrowing on its revolving credit line but the facility requires the company to file its 2004 financial statements by Sept. 26.
Interstate Bakeries has delayed filing its annual report twice because of uncertainty over its upcoming financial results and whether it will be in compliance with certain debt covenants during its fiscal year 2005.
The company first warned it may have to consider alternatives for its business on Aug. 30, when it also said its auditors' report may raise questions about its ability to continue as a going concern.
Kansas City, Missouri-based Interstate Bakeries has been hurt by decreased demand for bread and pastries due to the popularity of low-carbohydrate diets.
In addition, the U.S. Securities and Exchange Commission launched an accounting probe into the company in July, looking into how it set workers' compensation and other reserves.
If the company is unable to meet the Sept. 26 deadline and other requirements, or obtain a waiver from its banks, Interstate said it would have to seek alternative financing, which it could not guarantee.
"If alternative financing is not available, the company will need to consider alternative courses of action that are typically considered by companies in similar circumstances," Interstate said in Friday's statement.
Analysts have raised the possibility that one of those alternatives could include Chapter 11 bankruptcy.
Interstate Bakeries also on Friday said it hired investment banking firm Miller Buckfire Lewis Ying & Co. to help evaluate strategic alternatives and in talks with its bank group.
Interstate Bakeries spokesman Mark Dirkes said crisis management firm Alvarez & Marsal, which the company said last month it hired to assist in its turnaround, is still working with the company.
Interstate shares were down 57 cents, or 10.7 percent at $4.74 in morning trade Monday on the New York Stock Exchange, where it was among the biggest losers on a percentage basis. The stock, which has lost nearly 70 percent of its value this year, hit a session low of $4.55.
Alverez and Marsal are the ones that turned around HLSH and many others to rebound back from the dead. They are experts at obtaining finacing for companies with major problems and working with bond holders, but if the situation is not viable, then they could reccomend BK, so be careful with your choice on this play if you take the high risk spec of making money. Good Luck, Walk
Hey guys and gals: I have been very busy with the weather problems that we had had in Fl lately. I had an order in for 10k shares of FMDAY at .89 and I just saw it got filled. I feel it will be a solid play in the near future for me again. Have not had much time to trade and doesn't look like I will for several weeks to come. Hope you all are doing well and making some money. Take care and best regards, Walk
Secure: Thanks, I didn't want to take the chance of losing over a $6,400 profit on a one day play that was in hand. I have no idea where that company will end up on the PPS in the near future. I would be willing to bet that it will survive on a long term hold, but right now I have been taking what is on the table on most short plays and banking it. I am still holding a ton of HLSH for the future and that in itself is a big enough gamble. I am now waiting on the sidelines and hoping to pick up some bargins this Friday, due to just before the holidays the norm is the PPS on a lot of good companies will drop some. If it happens, then I will take advantage of the situation and if not, then nothing lost. Best regards, Walk
Chuck: I know exactly what you mean and fully understand. I could have written that to you a while back, but decided to believe in what I made a choice to stay with after I did my DD first. Just like yesterday, I had no idea what price I would pay for IBC, so I had to watch every second and I had to follow the market trend and was lucky that there became a frenzy of selling late morning and then a frenzy of heavy buying in afternoon and made the choice to stay with the play until 3:55, then sold. I missed getting the low by .04 and the high by .04 which is rare, so I consider that part " very lucky". I would pull every little bit of information first that I could and then go to every chat room avalible and read as much as possible. Even then I didn't know until watching the PPS action what I would do for sure. I fully understand how crooked the market really is, but it is the best game in town to increase your earnings, but at the same time lose in minutes what it took to make in a month or more. Pushing that button is one of the hardest things anyone can do, because the fact is the money is real and it is your money on the line and we have no control of what the price of the PPS will do for sure. Every one gets gun shy and that is just a fact of playing this game. The truth is we all are gamblers otherwise we would buy a stock and sit on it for the long haul and ride the ups and downs like our parents were taught to do. That was the norm and they usually would make a good return in the long run. That was yesterday and most of us know that the market has changed 180% due to the teck side of information provided now, which comes in both good and bad and which one needs to filter first as much as possible. We are dealing everyday with "crooked" CEO's, Market Makers, Borkerage houses, pump artist, bashers, and anyone that has the ability to steal your money. The odds are stacked against us more than most even understand or realize. We are on the low side of the information chain and that is a dangerous place to be. The SEC is a joke and can't even come close to guarding the hen house to protect the honest investors of today, period. It is all about billions and billions of dollars and when that happens you will be betting against a stacked deck and hope you are lucky enough to get a little peice of the pot. If you try and get greedy, they will show you that they have the upper hand and start taking your money until you fold with a loss. A good investor will pick a company with solid revs, honest mangagement and a good product or service and park their money for the long haul to try and make 10% or higher each year. We are gamblers and as such must realize that in order to make money we have to take the risk of losing some to make some on every play. I made my original money starting and building several business's, because I could contol the outcome. Same with my purchase of real estate investments, because they were under my control and no crook could alter my plan. Here in the market, I have no control except how much to lose before folding or how much profit to take and play it safe when lucky. I would tell you when I made a good play it was luck and you would say " no Walk, you made that play yourself and stuck with it. The honest truth is Chuck it is more luck than anything else when you make money trading the way we are doing here. You did your DD on those plays you made, right? and were just unlucky which will make anyone gun shy to push the button. I hope the next play or two brings you luck, because that is the only advice I can give you to be able to push that button with confidence that you made the right choice and end up with a peice of the pot. I could go on and on, but have traveled your same road many times and know where you are and where you need to be. This game of gambling in the market that we do is not much different than life itself. In real life you will travel on level ground, peaks, valleys and deep valleys at different times. At the present time in the market you are in a valley and the only way to get out, is to take a chance and climb until you reach the ground with some winners and then hope the next play will take you towards the peak. I wish you the best of luck on your next play, because in this game to try and make money we all will need it. Best Regards, Walk
Chuck: Thanks, I was hoping someone else here took advantage of that run on IBC also, but can't blame them for not taking the risk. 6k+ is not a bad days work and I am very happy with the end results. Best regards, Walk
I just sold my 10k shares of IBC for .64 profit, because I didn't want to pass up on a sure thing. It will probably go higher, but there is just too much risk to take the chance. Walk
I bought IBC this morning at $4.54 and it seems to be heading north now. I have a buy in on FMDAY at .79 but it hasn't filled yet. Walk
Secure: My personal opinion is IBC will not go BK and will bounce back strong with some help from Marshal and Alvarez with the financing getting new life. This is one hugh company and the PPS could have dropped due to being an over reaction. I am sitting on the sidelines waiting to buy 10k shares. I would have made the gamble today, but with the holidays coming up and the trend is that most PPS's drop some, I was trying to get every edge I can take advantage of. There may be some more panic tomorrow with holders that did not see what happened today and sell in the morning. I know the company has some big debt, but at the same time is still generating millions daily. I will know more as time goes along. I worried about a de-listing which could take the PPS down even lower for a period of time. This is what happened to SONS and then KABOOM it went back up several dollars with-in a week. The PPS of IBC went up in AH so that tells me that something is up and it may not be as bad as some think. It was just to much to digest in a short period of time for me today to jump in without doing the proper DD. GL, Walk
More news IBC: Walk NEW YORK, Aug 30 (Reuters) - Interstate Bakeries Corp. (IBC.N: Quote, Profile, Research) , maker of Wonder bread and Hostess Twinkies, said on Monday its auditors' report may raise questions about its ability to continue as a going concern, sending its shares tumbling more than 42 percent.
The company said in a statement its annual report would again be delayed because of uncertainty over whether it will be in compliance with certain debt covenants during fiscal 2005; uncertainty over its upcoming financial results; data entry and training deficiencies in its new financial reporting systems.
As a result, it said, there was a possibility the report of its independent auditors with respect to its fiscal 2004 financial statements might contain a paragraph that there may be substantial doubt about its ability to continue as a going concern.
The filing with the U.S. Securities and Exchange Commission was due to be released earlier this month. But it had been postponed until last Friday due to delays in finalizing its 2004 audited statements stemming from a previously announced investigation into the way it set workers' compensation reserves and other reserves.
If the forthcoming report with the company's audited financials contains a "going concern" paragraph, or if Interstate Bakeries fails to file its fiscal 2004 report by Sept. 26, the company said it may not be able to borrow under its senior secured credit facility.
The company said in its statement that if it does not have appropriate agreements with lenders to avoid such circumstances, it would need to consider alternatives.
Interstate Bakeries, based in Kansas City, Missouri, has been hurt by decreased demand for bread and pastries due to the popularity of low-carbohydrate diets, and questions about how it accounted for workers' compensation.
The company said in the statement it has hired crisis management firm Alvarez & Marsal for assistance.
"The company continues to be in financial difficulty as it has been for many months now," said Credit Suisse First Boston analyst David Nelson. "There is some possibility IBC could have to enter Chapter 11. We continue to believe that neither IBC's lenders nor their unions want to own baking plants, but that possibility exists."
Interstate Bakeries spokesman Mark Dirkes told Reuters later on Monday: "I'm not aware of any plans in place for filing for bankruptcy protection."
Dirkes said two possible alternatives for the company included getting an agreement from lenders waiving or modifying the covenants and some kind of refinancing. "Those are two that have been used in the past by us," he said.
The company said in its statement it is in discussions with the agent bank under its senior secured credit facility and that it would discuss issues and potential responses with holders of its recently issued senior subordinated convertible notes.
Interstate Bakeries' shares ended down 42.28 percent, or $3.34, at $4.56 on Monday on the New York Stock Exchange. (Additional reporting by Michael Kahn in San Francisco and Emily Kaiser in Chicago)
Some DD on IBC. Walk Interstate Bakeries Corporation Defers Filing 2004 10-K
2004 Aug 30 8:34 AM
Interstate Bakeries Corporation announced that due to the convergence of a number of recently identified interrelated circumstances, it had not on August 27, 2004, filed its Form 10-K for its fiscal year ended May 29, 2004 with the Securities and Exchange Commission. The Company said it is seeking to resolve these matters promptly and will defer filing its fiscal 2004 Form 10-K until it has done so. Filing will occur when the officers who must make the certification required by the Sarbanes Oxley Act in connection with such filing are in a position to do so. The Company said that the delay in filing its Form 10-K arose out of initial data entry and training deficiencies in the Company's newly implemented financial reporting systems, installed June 1, 2004; uncertainty regarding anticipated Fiscal 2005 first quarter results, in part due to delayed information availability resulting from such deficiencies which has made it difficult to analyze the impact of negative sales trends during the first quarter of Fiscal 2005; resulting uncertainty as to whether the Company may not be in compliance with covenants in its senior secured credit facility agreement during Fiscal 2005; and the possibility, therefore, that the report of its independent auditors with respect to the Company's Fiscal 2004 financial statements might contain a paragraph to the effect that there may be substantial doubt about the Company's ability to continue as a going concern.
Interstate Bakeries Corporation Announces Closing of its Bakery in Buffalo
2004 Aug 23 7:51 PM
Interstate Bakeries Corporation announced that it plans to close its bakery in Buffalo, New York. The closing, scheduled for October 23, 2004, will affect approximately 200 employees. This production will be transferred to other IBC bakeries, including facilities in Akron, OH, Biddeford, ME, Jamaica, NY, and Philadelphia, PA.
Interstate Bakeries Corporation Announces Agreement to Issue Senior Subordinated Convertible Notes
2004 Aug 12 8:36 AM
Interstate Bakeries Corporation announced that it has entered into definitive agreements with qualified institutional buyers for the private placement of $100 million aggregate principal amount of its 6.0% senior subordinated convertible notes due 2014. Purchasers have an option to purchase in the aggregate up to $20 million in additional securities for a period of 60 days following the closing. The sale of the notes is expected to close later today. The notes will be senior subordinated obligations of the Company, guaranteed on a senior subordinated basis by certain wholly owned domestic subsidiaries, and will be convertible at the option of the holder under certain circumstances into shares of the Company's common stock at an initial conversion rate of 98.9854 shares per $1,000 principal amount of notes (an initial conversion price of $10.1025 per share), subject to adjustment. The notes will pay interest semi-annually in arrears at an annual rate of 6.0%. The notes will mature on August 15, 2014, and may not be redeemed by the Company prior to August 15, 2011. Holders of the notes may require the Company to repurchase all or any portion of the notes for cash or, at the Company's option subject to certain conditions, in common stock or a combination thereof, on August 15, 2011 and upon a fundamental change.
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Hey Secure my friend how are you doing? I am sorry this is a short post, but am trying to get info on that one I posted about to see what kind of trouble they really have in store for the PPS. "IBC" Walk
Correction on that post, sorry, Interstate Bakeries. Walk
Hey Guys: I don't have the full scoop on this one, but if Alverez and Marsal were brought in to turn this company around then I am interested. They have turned the last 2 around to make me big money so I am going to do some DD on " Interstate Batteries" IBC on NYSE. The PPS could get hit harder or could start moving up some depending on what is happening to the filing for 04. Could be a real money maker so do some DD and see what is going on. The PPS was
$16.88 in March and still $10.00 the first of August and dropped today down to the $4's. This is the team that made me a ton on HLSH when it crashed and they do have a history of turning bad situations around in companies that need their help. Just a heads up to anyone that wants to put this one on the radar screen. Here is the news of them being brought in, Good Luck, Walk DJ CORRECT: Interstate Bakeries Hires Alvarez & Marsal
08/30/2004
Dow Jones News Services
(Copyright © 2004 Dow Jones & Company, Inc.)
Interstate Bakeries Corp. (IBC) hired Alvarez & Marsal to assist in resolving the issues surrounding the delay in filing its fiscal 2004 report to regulators.
MDGN: I wish I had found this one earlier with the spike it has made already. From .1580 to .42 on news. Walk
Chuck: Thanks, but was very lucky on that one and that is the truth. I just got home and that monkey is still going up higher. Less than 9 trading days ago it had dropped to $2.94 and is now $5.42. That is scary, because it is on the pink sheets. I was sure it had to drop and didn't want to get caught in the middle, due to it being on the pinks. With labor day coming up I just don't know when the profit takers will sell and the PPS drops enough for a re-entry point. Sure wish I could get a comfortable feel of this market as a whole, but I just don't have one. Best regards, Walk PS: If FMDAY drops to .69 I will be back in.
Re-Sons: Yesterday I sold my position in Sons at $5.10 for a very nice profit. I don't think it will continue to go forward without some news at this time. I expect the PPS to start dropping soon. I am hoping it will drop to another re-entry level so I can buy again. Walk
Good morning back to you Chuck: Walk
SONS just reported as required and there will be a CC on Monday at 8:00am. Well looks like I got very lucky buying at a high risk gamble on this one when it went pink last FRI. They are applying for NAZ listing again as I type this. Should be a good stock to own for some time to come now. Looks like I will do better with this one than I would have with FMDAY by a large margin. I consider this a very lucky move on my part. Walk
I knew as soon as I sold FMDAY it would go up. Out smarted myself on that play, dang. Walk
Cute Joke: 08/18/04 04:45 pm
Msg: 334970 of 334973
Jack decided to go skiing with his buddy, Bob.
They loaded up Jack's mini van and headed north. After driving for a few
hours, they got caught in a terrible blizzard. They pulled into a nearby
farm and asked the attractive lady who answered the door if they could
spend the night.
"I realize it's terrible weather out there and I have this huge house all
to myself, but I'm recently widowed," she explained. "I'm afraid the
neighbors will talk if I let you stay in my house."
"Don't worry," Jack said. "We'll be happy to sleep in the barn. And if
the weather breaks, we'll be gone at first light." The lady agreed, and
the two men found their way to the barn and settled in for the night.
Come morning, the weather had cleared, and they got on their way. They
enjoyed a great weekend of skiing.
About nine months later, Jack got an unexpected letter from an attorney.
It took him a few minutes to figure it out, but he finally determined that
it was from the attorney of that attractive widow he had met on the ski
weekend.
He dropped in on his friend Bob and asked, "Bob, do you remember that
good-looking widow from the farm we stayed at on our ski holiday up North?"
"Yes, I do." said Bob
"Did you happen to get up in the middle of the night, go up to the house
and pay her a visit?"
"Yes," Bob said, a little embarrassed about being found out. "I have to
admit that I did."
"And did you happen to use my name instead of telling her your name?"
Bob's face turned red and he said, "Yeah, sorry, buddy. I'm afraid I did."
"Why do you ask?
"She just died and left me everything."
From another board: Walk
I didn't post that I bought SONS on Fri, because I thought it was a bad move after I did, due to it going on the pinks that day. I didn't want anyone else to buy, because the chances were not good to make a quick profit with it just going to the pink sheets, due to not filing after a warning from the SEC. In at $3.20 and low and behold it is $3.92 today. Go figure. All weekend I was sure it would drop into the $2's, because all institutions have to sell when a company get's delisted for not reporting on time and after their warning that they will get delisted on a certain date. Millions of shares went through, but someone was buying around $3.25 everytime a block would go through. The NAZ being up several day's in a row helped also. I don't care how good anyone is as a stock trader, there is no way to understand what will happen next for no rime or reason. I lose $4,680.00 playing CNXT 3 different times in 3 weeks, all the way down starting at $2.26 - $1.94 -$1.63 when I thought it was another bottom each time and ended up selling at a stop loss and then it rebounds back to the $1.58 from $1.37. I buy FMDAY at .68 when the charts show it at a bottom and 2 green days in a row and it doesn't move up but .02 both days and back around the purchase price. I sold today with no loss, because Wall Street is not impressed with the company I guess, but watch it move up tomorrow with some news or soon after. Every time I feel I have my system figured out and get on a good roll, then for no reason that I can pinpoint with valid up to date information, one wheel falls off one of my plays to take some of my banked profits away. I am still holding my HLSH and am very bullish on that one for the future, but the rest of my day or weekly plays keeps me stumped and makes me realize I don't know crap about the market as a whole and never really will. Walk
Chuck: Very true. Glad that your parents and sister did not get the damage that many in Polk county received. They also had a lot of rain and even more yesterday and today. I have seen what a storm like that can do and mother nature can destroy almost anything that mankind can build even with the new codes in effect after Andrew hit Homestead and destroyed everything in it's path. I also feel for those people that got caught in it's path and their personal losses of many kinds. Take care and best regards, Walk
SS: We had no real problem here, just some rain. Charley hit south of me and went across the state and exited Daytona beach area. Did a lot of damage in those areas due to mostly wind. The biggest damaged areas was where it entered the FL coast line. Well I have lived here all my life and dodged another bullet so to speak. Not many people realize what a storm like that can really do if it hits you around the eye with catagory 4 or 5 wind and the surge effect of the water it brings with it on the southeast side of the storm due to they all travel counter clockwise with their spin. Now it looks like another one will be in the gulf next week. No surprize here, this is the season for these storms and something we all have to live with if you are somewhere near the water. Most people seem to have their own weather related problems of some sort depending on where they live. Thanks for the concern. Regards, Walk
The charts showed time to buy FMDAY, so I did. Will see if they were right. In at .68 Looking for .15 to .20 upside. Put a stop at .63 if they are wrong. Walk
KNOCK-KNOCK who's there? " Walk" well I guess you are the only one here, so close the door and turn out the lights when you leave.
Sold at $3.84 and waiting to see what happens tomorrow on SONSE. Walk
Dang is SONSE coming back strong now. Walk
Only pick up 2k shares at $3.15 on SONSE due to not knowing what it would due after pre market. Wish I had more now. Still too early to know what will happen tomorrow though. Walk
SONSE will be on the pink sheets Friday after delisting. Might be a good buy if it drops enough for a good entry point. Walk
SS: RE- AMHI otcbb " They have increased their revs by 30% over last year at same time. They expect to increase revs again this next 1/4 and this should be their strongest 1/4 to date. They seem to be doing business in Texas and Louisana. Picked by stock prowler.com GL, Walk
American HealthChoice, Inc. (OTC BB: AMHI)
2221 Justin Road, Suite 119-154
Flower Mound, TX 75028
Phone: (972) 538-0122
Shares Outstanding: 107.3 million
Public Float: 29.2 million
Market Capitalization: $2.9 million
Closing Price Friday: 2.7 cents
For the month of August 2004, Stockprowler.com has a very unusual speculation to present to its readers... a penny stock that has substantial and growing revenues! American HealthChoice, Inc. provides medical, physical therapy and chiropractic services through primary care medical clinics and chiropractic clinics. AMHI owns and operates 13 clinics in Texas and Louisiana. On July 21 American HealthChoice, Inc. announced revenues for the three month period ended June 30, 2004 were $2,546,000 compared to $1,960,000 in the same period in 2003. Dr. J.W. Stucki, CEO of AMHI stated, "We are very pleased with fiscal year 2004 revenues to date. The last two quarters have been substantially stronger than the same quarters in fiscal year 2003. These current quarter to previous year quarter increases, which are largely driven by our new Affiliated-Revenue program, should continue in our quarter numbers ending September 30, 2004, which historically is the strongest quarter of the fiscal year."
AMHI earlier announced that it had completed the issuance of 20,475,000 shares of its common stock to retire its obligations under a convertible debenture dated August 25, 2000, thereby causing the release of a first lien against the company's accounts receivable. According to Dr. Stucki, "The final conversion of this debt into equity is a positive step for AMHI shareholders. The Company now has the ability to better utilize a very significant asset as an integral part of its corporate finance structure. With revenues increasing and net receivables of approximately $6,000,000, we are no longer restricted to equity funding to finance growth and meet working capital requirements."
In June 2003, the AMHI initiated its Affiliated-Revenue Program to increase patient billings through arrangements with established clinics owned and/or operated by individual doctors. Under this program, AMHI directs patients to these clinics using its established network of patient referral sources comprised of independent marketers and other professionals. The company reports patient billings as revenue and the treating doctor's fee as an expense with payment at the time of collection. The primary financial benefit is additional operating income without new fixed costs such as employee salaries or office rent. The arrangement is equally attractive to the treating doctor because of the increased number of patients and the resulting increased income. To date AMHI has focused on clinics located in and around large Texas cities where there exists no AMHI owned clinics within a 30-minute travel time for prospective patients.
As of June 15, 2004, AMHI has arrangements with fifteen clinics, including two in Austin, two in the Dallas area, and six in the Houston area. According to Dr. J.W. Stucki, CEO of AMHI, "We anticipate adding three to four additional clinics to our Affiliated-Revenue program each quarter. This new source of patient billings will be responsible for a much larger percentage of American HealthChoice's revenue and operating income in the future."
Looks like an undiscovered gem to us! We like the fact that insiders own 72% of the outstanding shares... with the CEO holding 45%. That kind of confidence combined with growing revenues and an innovative "Affiliated-Revenue Program" with non-AMHI clinics says a lot about a company that restructured and is coming back from a Chp. 11 bankruptcy. Place your bets. We believe the train will be leaving the station shortly on this one!
Stockprowler does not receive compensation from companies we profile or from third parties... we never have and never will. We use our own money when we buy stocks, and even though we usually take a position in a stock before we profile a company, our purchases are small relative to the public float so that the effect on the stock price when we buy or sell is minimal. Please read our full disclaimer.
Also, contrary to a commonly held belief, Stockprowler does not have access to insider information, nor do we want to because trading on insider information is illegal! All information contained in our reports is available in the public record... and any written or verbal communication with company CEOs/IR people strictly adheres to this rule. Readers are urged to read the company SEC filings and do their own due diligence before investing in this or any other stock.
Good Trading... Stockprowler
Sold my CNXT for a nice profit on another down day and will try and buy back around $1.50 or lower if it drops back that far again. I thought it was around the bottom when I bought at $1.49 on WED. Walk
For those on the board that didn't read my post to SS about this site and I am adding another one also. ( WWW. stockconsultants. com ) and ( WWW. americanbulls .com. Check them out and see what you think. Sometimes they give you an idea of some of the trends that are transpiring on stocks you may have. GL, Walk