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Totally agree with Xanadu- looks like there is going to be more accumulation and some fund selling [ some funds that are index based?] . Since accumulation is happening on the bid it may churn for awhile longer. I think we may get a bump when the company actually spells out it's new plan and announces what the future might hold . I'm holding a bunch on the theory that they will survive and maybe even gain a little market share.
That takes me back- Lost my proverbial butt on FNSR in like 98' [ found out how worthless a stoploss can be]. Bought Finisar for like $14.00 and it was trading at like $22.00, put a stop in at $12.90. Bad news on a Monday- blew past my stop loss opened for trading at like $6.00.
Good times were had by all.
From the 10Q
No financial expert on board
No code of ethics
Acknowledged conflicts of interest with shareholders
Non-Arm’s Length Transactions
http://www.sec.gov/Archives/edgar/data/1099963/000114420409007496/v139726_10k.htm
Well put!
Hmmm. Last call for Finisar? FNSR.
Used to be a reliable trader.
Nice! [ maybe take a little profit in the .40ish range?}
I posted an opinion on the ACLS [ghost town] board.
Gonna have to churn here for a bit- could have a nice push EOD. I think the company will finally come out with terrible numbers but will paint a decent picture going forward. Today I could see .50 but I already sold some earlier [.40's] and will hold the rest 'til .70-$1.00 range. Barring some crazy event.
Institutional ownership is over 60% and ACLS has a pretty low float- could get a spike anytime. At least they will not be filing BK soon . [IMO] Longer term they could actually be a survivor in the semi market and do quite well.
So they pay the debt and add like 50 million dollars to their coffers? I'll have to look a little closer but this is really terrific news.
Up 135% - - This stock rarely trades in pre-market- I think we may really go when the market opens at 9:30.
The info I sent was very compelling . You may have noticed recently that the SEC has really stepped up it's enforcement.
Do you know what transactions "at arms length" mean?
I do .
I'd take your overall call % anyday-!
Hopefully ACLS has legs!
Congrats to those who held- Wow!
Follow the money actually works sometimes.
Hope you held- check the news this morning
http://biz.yahoo.com/pz/090226/160405.html
Press Release Source: Axcelis Technologies, Inc.
Axcelis Technologies in Agreement to Sell Its Interest in Joint Venture SEN Corporation to Sumitomo Heavy Industries
Thursday February 26, 8:00 am ET
Axcelis to Use Proceeds to Meet Its Obligations Under Its 4.25% Convertible Senior Secured Subordinated Notes and Fund Operations
BEVERLY, Mass., Feb. 26, 2009 (GLOBE NEWSWIRE) -- Axcelis Technologies, Inc. (NasdaqGS:ACLS - News) today announced that it has entered into a Share Purchase Agreement in which Sumitomo Heavy Industries, Ltd. (``SHI') will purchase Axcelis' 50% interest in their joint venture, SEN Corporation, an SHI and Axcelis Company, (``SEN'), for Y13 billion, or approximately $133 million, in cash at current conversion rates. Axcelis and SHI each currently own 50% of SEN, a Japanese company that is licensed by Axcelis to manufacture and sell certain implant products in Japan.
ADVERTISEMENT
It is anticipated that the transaction between Axcelis and SHI will be completed on March 31, 2009. Axcelis will use a portion of the proceeds from the sale of its SEN interests to meet its obligations under its 4.25% Convertible Senior Secured Subordinated Notes, which were due in January. Pending the closing, the trustee for the notes has agreed to stand down on litigation filed in connection with Axcelis' default on the notes.
Mary Puma, Chairman and CEO of Axcelis, said: ``This transaction serves the best interests of Axcelis shareholders as it enables us to fulfill our senior debt obligations and gives us greater financial flexibility during this difficult economic climate and semiconductor industry downturn. Axcelis will continue to fully focus its efforts on tight cash and cost controls and on developing and selling innovative products like our Optima implanters and Integra dry strip tools, both of which have received strong customer reviews. With these products, Axcelis believes that we can compete and gain market share once demand for semiconductor equipment returns.'
As part of the transaction, at the closing Axcelis and SEN will enter into cross licenses that will allow the two companies to continue to use certain patents and technical information owned by the other to make and sell ion implant systems on a worldwide, royalty-free, perpetual basis. Axcelis' license to SEN would not include patents, licenses, or technical information developed by Axcelis for the Optima HD, Optima XE, or any non-implant products. The transaction will terminate all existing agreements among Axcelis, SHI and SEN relating to the SEN joint venture.
More information can be found in the Form 8-K that Axcelis will file with the Securities and Exchange Commission at http://www.sec.gov.
About Axcelis Technologies, Inc.
Axcelis Technologies, Inc., headquartered in Beverly, Massachusetts, provides innovative, high-productivity solutions for the semiconductor industry. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation and cleaning systems. The company's Internet address is: http://www.axcelis.com.
NEEEEEEEEEEEEEEEEEEEEEEEEEWWWWWWWWWWWWWWWSSSSSSSSSSSSSSSSSS
I wonder who Spartan Consultants are? The ones based out of Michigan State University?
Who do you suppose Spartan Consultants are? Do you think they were paid in shares? Is there a reference to them in any of MDOR's filings?
I'm guessing they have close ties with the company- but hopefully it will be answered shortly.
I'll post some "whois" info soon.
Still in here?
Still in here?
Still in here?
Wow! They even paid Ledbed to promote this.
My firm Lebed Biz LLC has been compensated by a third-party (Spartan Consultants) $20,000 cash for a one-month MDOR investor relations contract. Never invest into a stock we discuss unless you can afford to lose your entire investment. For our full disclaimer go to: www.lebed.biz/disclaimer.htm
Jonathan Lebed
Lebed.biz
Staff
Classic post!
"Chad Curtis emailed me the NSS info"
"He occasionally sends me information that is already public to inform the rest of you guys on."
Good stuff! Thaks for sharing!
80k on the bid at .18 .
I'm really scratching my head on this one. I bought more today also. This has to come to a close soon, I would think.
BTW Great pic in your profile!
Sterling now a 10% owner- over 60% is now owned by institutions. How can they be so [dumb] confident,? pick a word.
Actually- another 13G UPDATED- financing or buyout looks more likely .
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6163003
This stock trades like Friday night poker group with the neighbors. Money changes hands with no clear winner- except if you can get someone's friend [the patsy] to play one night.
The 10k even makes mention of the fact that the stock trades so thinly that a prospective investor should not read anything into the current pps.
I didn't know about the compensated /fake/anaylst until you mentioned earlier. That's an enormous red flag!
Can't wait for the next PR. I'm sure it'll be a wonder to behold.
This is what I referenced in regards to the strange trading pattern here,
http://www.bradenton.com/news/local/story/1205350.html
I also noticed that a couple known compensated posters were posting here. [before ihub asked for disclosure].
I believe there may still be posters here that should disclose- but that is my opinion. I'll let the SEC sort this out .
The big block bid is now at .18 [unfortunately].
Yep, I already sent them [SEC] a nice packet of info.
We shall see what we shall see.
It's really just a non event- the s&p changed out a lot of symbols/companies. ACLS's stock price is so low it had to be taken off but so did many others.
Right now we just need some refinance or buyout news. Being listed in an indice is the least of ACLS's trouble.
http://www2.standardandpoors.com/portal/site/sp/en/us/page.category/indices/2,3,1,0,0,0,0,0,0,0,0,0,0,0,0,0.html?lid=us_fo_overview_indices
On a positive note- really big volume at the close sometimes proceeds news or an event. I'm ready!
ACLS is being replaced on the small cap 600
s&p
Not really a price moving news item.
Schwab news alert just went off- can't find any news though.
FCSX could be a bouncer- little bad news suprise after market and a conference call Wed.9:00am
Holy Crap! 250K at the close?
Another filing for sure- maybe even some news!!?
here comes the 50k @ .21 big block close.
50k bid at .20 ask at .22
Everyday, they fill the bid for someone/some groups.
Anything is possible here. Right now, I think they are negotiating with other financiers.
They just got done retooling and upgrading .
They have a decent service business and on paper their book value was like 250m- or like $2.00/shr
170m in inventory= [priced on their books during better times]
Seems like the liquidation with selling some assets to Sumitomo would be best .
Good post from yahoo board paints the negative very well.
The recent institutional buying seems to point to a planned liquidation of sorts. I'm still gonna ride this barrel over the falls and see what happens
From Yahoo
The company defaulted on its bond on Jan 15. They are currently in their cure period. I've done a lot of diligence here and what I can tell you is that while the company appears to have a book value of $250m the number is far over valued. I believe the company is headed to liquidation or bankruptcy. It appears that management prefers liquidation since their various employment contracts remain intact. The only asset they have that they might be able to sell is their service business. Unfortunately, the service business is dropping and will continue to do so at an alarming rate. There might be a buyer for the service business but at much less than 1x sales. Perhaps 20%-40% of sales. Additionally, they have about $170 million worth of inventory on the books. However, this inventory is only worth about .05 cents to .10 cents on the dollar since much of it is specific to their tools. Their Japanese JV is on the books for approximately $130M but in reality the value to a potential buyer is probably 0. Firstly, it is my understanding that Sumitomo has the right of first refusal to buy Axcelis' interest in the JV (this will scare away any real buyer) but more importantly a 51% vote of the JV board is required to liberate any of the $150m in cash the JV currently has. Axcelis only controls 50% of the JV board. It is also uncertain what happens to the JV even in bankruptcy. I guess they could petition the Japanese courts in an attempt to break up the JV and get their share of the cash; but in reality this is probably a 3-5 year process and I doubt their would be any cash left in the JV at the end of this process. The JV is operating independently and running its own R&D program ($$).The sales territory of the JV is limited to Japan and right now the sales look like they will be almost nothing in 2009. Perhaps Sumitomo could offer to buy the half of the JV they don't already own but I think they will likely wait until the company is in bankruptcy to consider that option (after all who else would want it). Lastly, their building in on the books at $50m but we all know the story with real estate today. In addition to the weak real estate market the company runs highly noxious materials through their implanters (arsene and phosphene) which means that any potential buyer will want to do a deep dive on the environmental issues surrounding the building. The sale of the building could take years. A comprehensive restructuring appears to be required but in reality the company cannot afford the restructuring charges that could run as high as $30m-$40m depending on the number of employees laid off and the outstanding overseas leases,etc. (I would guess about 50% of the employees need to go to bring the cost structure in line with sales). Of course the current management team and board need to be replaced before any intelligent investor would consider putting a penny into the company. The management and the board have a long history of ignoring the best interests of the shareholders (check out what happened with the elections of board members last year). In summary, depending on what price you paid for your shares you might do OK if they liquidate the company (depending on the price they get for the service business)but I doubt it. If I were the bond holder I would A)bring in a new management team and extend the debt for another 12 months to give the new management team time to restructure the company (in exchange for security) with no guarantee a new management team could be successful or B) push this thing into bankruptcy ASAP while there are still some assets on the books and hope for the best. I would personally choose option B (if I were the bondholder) if the board did not immediately change management
87k on the bid? Why can't the accumulators buy on the ask?
Still holding and wondering.
I knew you'd have the answer.
What do you think about those shares issued for Febuary?
Seems like an awful lot of consulting for such limited revenue.
I wonder how they arrive at the cost?
Love to have your thoughts!
I'm sure surfguy noticed that the 10Q is unaudited.....
interesting stuff.
MAGNUM D’OR RESOURCES, INC. AND SUBSIDIARY
Quarterly Report for the period Ended December 31, 2008
(Unaudited)
MAGNUM D'OR RESOURCES, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
MAGNUM D'OR RESOURCES, INC.AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
MAGNUM D'OR RESOURCES, INC.AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Magnum d’Or Resources Inc. and Subsidiary
Notes to the Condensed Consolidated Financial Statements
December 31, 2008
(Unaudited)
Magnum d’Or Resources Inc. and Subsidiary
Notes to the Condensed Consolidated Financial Statements
December 31, 2008
(Unaudited)
and so on .....