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Well, I'm sure when you see the 2nd quarters revenue and compare it to the first quarter, you could possibly refer to it that way, since the first quarter was only 5 grand. Or do you think Mr. Boux was talking about something else?
Makamai
Where did you come up with "explosive growth in the first quarter" - the company is in their second quarter already, the 10QSB that came out last month reported their first quarter income.
Makamai
Looks like we've got the technology to whup up some rather awesome compounds W6. Now we just need a contract or two to show that there are companies out there that have some needs that we can satisfy. The bigger the name, the better...
Makamai
Considering the lack of posters, I assume not much is happening with the company of late.
Makamai
At the end of the day, PERT raised their ask to $1000.39 - go figure!
Makamai
Picked up some more today. There won't be many more buying opportunities like this much longer IMHO.
Makamai
That's right OSS - but that's nothing compared with the demand Magnum will have for their future products and compounds. This environment is especially ripe for a company that can provide the finest rubber nuggets of grain sizes of < 0.250mm on a large scale that will reduce present manufacturing costs both in time and materials. The application of recycled rubber nuggets in the field of high-value elastomer products provides huge advantages as follows:
1. Excellent reductions in the cost of manufactured end use products through the substitution of rubber nuggets;
2. Providing “Green” company initiatives utilizing the recycled products in the manufacturing process helping to make companies more “environmentally friendly”;
3. Helping to eliminate a major hazard in regard to the pollution of the environment by reducing the used tire build-up in landfills and around the countryside.
4. These processes not only provide a new and expansive methodology for the recycling of rubber but do so at a cost as much as 40% below the present cost of producing thermoplastic elastomers (TPE’s).
So IMHO, the demand will always outweigh the supply, which will result in Magnum continually expanding their manufacturing operations globally, in order to try and keep up with the demand for their products. This can only mean great things for those investors who continue to be long.
Makamai
OSS, we'll be looking back at these bargin basement prices soon, only wishing we could have bought more.
Makamai
If shorts are taking this stock down, then they when they have to cover, the stock price will pop even higher.
Makamai
PP if their are insiders who are printing shares I'd certainly like to know about it and so would the SEC. Your accusations are so far removed from reality it's hysterical. You obviously haven't and of course wouldn't bother to look at the 10Q recently published which documents company assets in excess of 1.6 million. Obviously you have some personal ax to grind with management which is of no interest to me and most others who post on this board what so ever. I think we are all capable of making up our own minds by doing responsible DD whether this is a good investment or not.
Makamai
If the company makes money, then the shareholders will make money. Magnum is in the right place, with the right products at the right time. So your premise PP is fatally flawed. There is an old saying – “He who laughs last, laughs best” . So mark my words PP - all the longs will be laughing all the way to the bank with this company, leaving you bashers in the dust.
Makamai
Richie - no doubt the company has some revenue at the present time, however I doubt the company will have profits for a while down the road.
Makamai
Just to set the record straight, for every share sold, their is a share bought...I picked up some at .336 this Am. What a deal! And fsmith - IHub program is just a guesstimate by a computer whether a share is sold or bought - I wouldn't put much faith in it as a statistic.
Makamai
Bid has dropped to .33 or so - need some news of merit to kick this thing off.
There is an old saying "only time will tell", and I'm going to lock that in as my final answer.
Magnum could play a significant role in helping companies turn towards more productivity as stated in todays NR. And, "in the near future" we should see what the first industries will be to profit from it. ."The economic impact may generate tremendous savings for retread and compound manufacturers. Magnum looks to update the market on these value added products and developments in the near future."
Makamai
Agreed OSS, as they say, good things take time, great things take just a little longer. Been hanging around for over 4 years & I'm ready already...
Makamai
Maybe sooner than you think Richie...
As I said before Richie, those shares are restricted and subject to Rule 144, which means there is a 6 month waiting period, plus limited amount of shares can be sold in any 3 month period, etc., etc. If you think managment is going to sell at these levels, think again. The company knows what a gold mine they've got and are intending to build a company that could become a Fortune 1000 company in a few years, if it isn't bought out first. They've just got production started in a field where the demand far outweighs the supply. Considering the state of the economy, companies are looking to reduce production costs and Magnum has a product line that will do just that. I'm convinced management is in it for the long haul and only time will tell. GLTA
Makamai
The float hasn't changed Richie, and stock movement is based on the float, not the outstanding shares.
Makamai
You got to remember OSS, that anyone who owned stock in the MAGR days won't break even until the stock price goes considerably higher than it is now and therefore most likely have a lot more at stake for the amount of shares they own. They have also gone thru a reverse split as well. So you might cut them a little slack as far as patience goes since they've been duped before, they are ever more cautious going forward.
The company has made great progress, as you said, but they've only just begun to get their game plan put into action. Richie stated that sometimes "tomorrow never comes", however I'm just a littl more optimistic than that.
Makamai
As you might imagine Richie - everything is dependant upon financing, and getting rid of that "E". So until that happens there isn't much to talk about from SRI standpoint.
Also, just how long do you think it takes to put a plant together. You have to crawl before you walk my friend. Once things get off the ground, the sky is the limit. And I think tomorrows trading will begin to tell the tail - as markets are closed today for Presidents Day.
Makamai
Richie - I don't think anyone is pleased that the price is where it's at, however considering the state of the economy and how many giants have fallen of late, that fact that we are where we are can be attributed to progress of the company in getting production started. Now with some financing we should be off to the races. Yes - I am optimistic, as I see that what was great potential a year ago, has now become a reality. I'm looking forward to the next few weeks to see what has been hinted at in previous NRs unfold. I'm confident it will...GLTA as well.
Makamai
Hey Richie - of course Chad wants the best price for investors, because he wants the best price for the shraes he owns as well. Keep in mind, that when he took over the shell, he paid 500K, and only received preferred shares which were only good for voting rights. He received no common shares as would normally be the case. So he has waited until the company has started generating revenue before getting his just deserves. And the best is yet to come with SRI onboard, which will reap big rewards in the way of revenue as things develop. How else is he going to divulge the information other than through filings. That's certainly not a news worthy event. Make a big deal out of it if you want to, however I feel that within the next month we'll begin to see just how valuable Chad's time and energy are to the company, as Magmum leaps into the forefront of green technology and begins to expand into a major manufacturer with a multitude of product lines, plants and new processes.
Makamai
Well said DSH - and keep in mind that Chad's shares are restricted and fall under Rule 144, meaning they can't be sold for 6 months, and then there are other restrictions such as volume and $ value. So the float hasn't changed much, only the outstanding shares and if the company suceeds in obtaining the financing you mentioned, and JVs come to pass as hinted at in recent NRs, the share price will grow dramatically from present levels to the delight of all shareholders.
Makamai
Richie - the 10QSB was due out (the FIRST time) by today. So this is the first extension for it. The auditors were working frantically to get the 10K annual report out which they did, but obviously need a little more time to get out the first quarters report. No problem from my standpoint.
Makamai
Looks like we'll have to wait a few more days for the 10QSB - they filed a NT10-Q notice of late filing requesting an extension today.
Makamai
Lets hope we have some investors out there that are just waiting for the opportunity to pounce on the stock once the e disappears either tomorrow or Tuesday. I'd say we've held up rather nicely in the meantime.
Makamai
Do you really expect the Officers of the company, auditors, etc., to work for free? The company is maintaining a policy of minimal dilution and have done better than most at maintaining that to date.
I liked this part: Furthermore, the Company intends to provide modified sources of recycled rubber products, reconstituted rubber derivatives, and high quality rubber powders to various distributors and manufacturers. This will be accomplished through wholly owned and joint venture facilities that may be fabricated or acquired as the market allows. The Company intends on establishing technical facilities, either coincident with or separate from its production facilities, for purposes of research and development activities. It may also enter into strategic alliances with educational institutions and/or research firms to advance its market research and develop innovative products and solutions associated with its core recycling business. This is the real meat that will separate Magnum from its competition.
Makamai
Good point OSS, the biggest thing Magnum has going for it is the future ability to decrease the % of virgin rubber that is required in manufacturing rubber based products, and this could lead to complete elimination of the virgin rubber component as SRI tweeks its patents with further lab work.
Makamai
That seems like a plausable candidate alright. Also, your theory that a possible future JV with a company that can color the buffings could be spot on as well. Don't work too hard (lol)
Makamai
Aloha Richie - If the white buffings are coming from tires, then you would think they must be coloring them. W6 was asking you if you knew or would care to guess who the customer might be since the NR said it was a "well known retail supplier from West Canada"...
Makamai
I agree that there have been a lot of promises by management, they certainly know how to talk the talk, now do they know how to walk the walk? I for one am counting on it, but you never know until it happens!
Makamai
Check out the monthly share volume report by MM below - Magnum has 8 active MMs, with NITE the most active.
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=MDORE&SortBy=volume&Month=1-1-2009&IMAGE1.x=19&IMAGE1.y=9
Richie, from what I understand, the audit delay is the result of new SEC rules & regulations after the fall apart in the market. Guy Madooff who scammed everyone, Fannie Mae and Freddie Mac, etc., added fodder to the fire so to speak. Magnum is going back and looking at all that's happened in the past so the company is totally in complaince. Remember, they have one of the top auditing firms in the country doing it, but I'm sure that Magnum isn't their only client. IMHO, better to get it done now than later.
Makamai
I've been waiting for the "truckload of buyers" for a long time... However it would appear that the company is getting close to a PR campaign that should be quite effective. Just need to complete the audit and proceed upward from there, assisted by NRs and PR.
Makamai
Art - it's interesting that the bid suddenly jumped up to .46 on so little volume - go figure...
Makamai
Basically by the time the stock price reaches a bid price of 5 bucks, the company should qualify in one of the other required areas as well. There are already more than 4 MMs, but additional requirement item 4420(b) requires only 3.
Here's a NASDAQ qualification requirement summary which gives various options the company can use to apply:
Major stock exchanges like the Nasdaq are exclusive clubs - their reputations rest on the companies they trade. As such, the Nasdaq won't allow just any company to be traded on their exchanges. They only want the cream of the crop - companies with a solid history and top-notch management behind them.
The Nasdaq has three sets of listing requirements. The company must meet at least one of the three requirement sets, as well as the main rules for all companies.
Listing Requirements for All Companies Rule 4420
Each company must have a minimum of 1.1 million publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company. The minimum bid price of the stock upon listing must be at least $5. Each listing firm is also required to follow Nasdaq Corporate Governance rules 4350, 4351 and 4360. Companies must also have at least 400 shareholders. A shareholder is defined by Nasdaq as a holder of over 100 shares.
Requirement Rule 4420 (a)
The company must have a minimum shareholder equity of $15 million. The operating income from either the last fiscal year, or two of the last three years, must total a minimum of $1 million. The company must have a minimum of three market makers that will provide liquidity to the trading of their stock. The market value of the publicly-held shares upon trading must be worth at least $8 million.
Requirement Rule 4420 (b)
The company must have a minimum shareholder equity of $30 million. The market value of the shares traded must be at least $18 million upon listing. The company also has to have a minimum operating history of two years. It is also required to have three market makers. What can be seen here is that if a company did not earn enough to meet the operating income minimum, they need to have greater shareholder equity and a larger market value.
Requirement Rule 4420 (c)
Under this requirement companies must have at least $75 million in total assets, total revenue, or listed securities. Listed securities as defined by the Nasdaq are securities listed on either a Nasdaq or another national exchange. The market value of the shares upon listing must be worth at least $20 million. They are also required to add an additional market maker for a total of four market makers.
A company has three ways to get listed on the Nasdaq depending on the underlying fundamentals of the company. If a company does not meet certain criteria such as the operating income minimum, it has to make it up with larger minimum amounts in another area like revenue. This helps to improve the quality of companies listed on the exchange.
It doesn't end there: after a company gets listed on the market, it must maintain certain standards to continue trading. Failure to meet the specifications set out by the stock exchange will result in its delisting. Falling below the minimum required share price, or market capitalization, is one of the major factors triggering a delisting. Again, the exact details of delisting depend on the exchange.