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Good find. Let's bombard PK with all our concerns. The problem is like he's gonna answer those...
No CC. Only one way presentation is coming on May 18-19.
Foozen if you're telling truth I admire your faith and action. With God's help you (and all who holds) will be rewarded eventually.
He admitted he was lied by management about dilution.
Nobody said restoring trust would be easy. Killing it? Yes. I really hope PK learns from all his blunders, from all his unfulfilled promises and blatant lies. Otherwise soon people won't even beleive his 10-Qs.
Hahaha, unbelievable! People are so fed up with PRs that they afraid every PR means more dilution and dump their shares. That's what you get Patrick for lying to shareholders.
Thank you for you posts, kezzek. You're always interesting to read.
I don't want to argue about debt-liability classification, but just ask yourself if you were a shareholder which part would you worry more about: $400K debt (per se) or $7M Accrued expenses? And would you be able to call the company debt free if they paid off 400K debt while carrying that amount of accrued expenses on their BS? I wouldn't.
Accrued expenses and any liabilities are classified as debt. But, yeah, I should have netted them against assets. Still the company is MILES away from being "debt free". Many miles.
Patrick should pay off (even with shares) high interest generating liabilities ASAP as interest expense is soaring. For less than a year unpaid interest went up whopping $263,994 comparing to April 30, 2009 quarter. Overall IE was whopping $906,888 (740% increase comparing to the same period year ago) for 9 months! That's unacceptable.
"And also, at this point I think it would take more than just the company projecting earnings to get the market to react strongly."
Of course, it's only "show me money" approach now. Enough is enough.
"Company is very near debt free with very low overhead."
It can't be. Unless under "debt" you mean only Long term debt and unless Mexcor transferred couple millions dollars it simply is not possible. On 01/31/10 company had $7,069,431 current liabilities and $400,000 LTD. Since they could decrease debt with shares only it would take ~543M shares @1.3 cents to pay off current liabilities and ~30M shares to pay down LTD.
P/E ratio doesn't work with penny stocks. It's all about potential. IF DA shows two consecutive quarter growth with no dilution, IF PK launches Rheingold, IF Dr. Dre decides he wants to own his own alcoholic drink nobody will wait for P/E to be 15. As when it's 15 - it's no longer .012 per share.
I don't buy it. He's founder and CEO for Christ's sake. He can reward himself with as many shares as he wants and whenever he wants. Stock plunging to .01 did not preclude him from awarding himself with 1M ($20K) Bonus: "1,000,000 (aggregate value $20,000) was awarded by the Board of Directors as a stock bonus for his accomplishments in the creation and launch of one of our premier brands." Can you imagine if he brings the stock up to at least .10 he will dub himself "The Truth, The One, The Only" and issue himself 100M shares for "his accomplishments".
Any Olifant sighting, westcoastdaddy00? Investing123 reports it is available in 1.75L volume. Thanks.
Yep, I'm with you PKG on this one. PK gets credit for signing up Mexcor, but he can not simply sit on his butt and wait for monthly fee income to flow into company. I hope there is natural sense of competition between him and his former employees that are on Mexcor's books now. All recent PRs I attribute to them working hard on domestic expansion. We haven't heard any news on international sales since that Israel update quite some time ago. We haven't heard about any new launches. And all that now totally in PKs hands. Would be really nice if PK stepped up and had something to brag about in front of his ex-employees.
:) Dude, any stock can go lower, any stock can go higher. People should make their own DD. But for you griff100, just to make friends with you, I'll give valuable piece of advise: DO NOT BUY. IT CAN GO to $0 :)
Disagree. Last 3 PRs were all positive. Stock broke support on MMs selling of previously issued shares as a result of toxic financing. Whoever thinks it's going to $0 should dump all their shares now to avoid total loss. Whoever believes and has funds available - should buy.
1.75 Olifant is a compelling value at $22.99. In this economy it becomes big player.
Post merger, the already public company becomes an entirely new operating entity and changes its name and business operations to that of the privately-held company.
The two biggest advantages of a reverse merger versus the traditional are IPO time and cost.
"As I see it, the problem with that scenario is that Mexcor would likely end up owning most of the merged company with DA's current shareholders having a much smaller share of a much bigger value."
Fixed it for ya ;)
I know it's probably laughable to talk buyout when you're at 1.2 cents, but I just though about the situation where DA's business becomes quite a big play in Mexcor's profits and since agreement is for 15 years Mexcor, unwilling to lose that, takes DA private or public (reverse acquisition). I know it is possible. But it's possible only if model works, sales grow and new brads developed.
IMO it's Optimus Capital Partners.
I found on CBAI board that OCP were selling CBAI's stock through NITE and NITE is our main seller for quite some time if you noticed.
Funny, without dilution w'd be dead, but if PK secured somehow financing when we were 100M O/S we'd be at .10 now even with 15K quarter.
Great news. As far as I remember this is first 3-week streak without dilution since JV. Keep it going!
Guys, I really think it's not an issue whether it drops to .01 or goes up to 0.2 unless you're penny day/swing trader. Now the most important thing is execution of a new model. OWR was seen in couple of supermarkets in Cali, looks like OV is joining it soon. And it's far more important in the bigger picture as DKAM's PS will only react positively on real $$$ (10qs) now, not on PRs.
Guys any thoughts on this presentation? Will there be something new announced or it's just a regular BS what the company is about and how stock is undervalued, like the one PK posted when it was .10
Personally I hope PK outlines something definitive, like international expansion plan and/or Rheingold launch.
Thank you. That's encouraging. Hope to hear from you soon on Olifant find :)
It's old one :(
I agree partially. In all fairness all the shares he sold he used to pay off either long term debt or current operational expenses. If he raised cash that would have been a valid claim. But he didn't. Let's remember PK is the largest shareholder and he's not an enemy to himself. He maybe lazy, but he didn't run company into the ground on purpose.
But, yeah, it will be interesting to see how well PK does compared to his employees that are on the Mexcor's books now. International sales would be huge bonus for DKAM's financials. I'm willing to give him 2 quarters to show me some money.
I hate to be reminded about this atrocious past of DKAM since I am heavily (for my means) invested in this company. Therefore I prefer to look ahead and try to see what they can come up with to pull us out of this madness?
The "shitloads" and content of recent PRs gives me hope. Like I said IMO they need to push heavily the products they get the maximum from since there is so much uncertainty with BAB, Dr. Dre. And these products Olifant and Aguila tequila. From PRs it's clear they push Olifant and OWR which is great. Would also prefer to see some news on Aguila tequila and TV.
Promising financials and reintroduction of Rheingold could finally bring us some upward momentum and maybe show us some fives (0.05)... Is it too much to dream about?
Yeah, we all would like to know what's going on. And it's not Kid Rock's responsibility to explain it to us. Looks like it is nobody's responsibility.
99% PK is to blame here. Probably DA had to do something that required $$$ and $$$ was something they haven't seen in a year or so. So PK decided to modify agreement. Anyway, he should have at least kept shareholders updated. BAB went from DKAM's saviors to just some product they assisted to launch. Another addition to PK's busts :(
westcoastdaddy00, any update on OWR and OV in Cali? Thank you.
And they probably should be. They hold 100% distribution rights for Olifant in NA. They don't pay any per case royalty which is a burden for cash strapped company. Now DA needs to reintroduce Rheingold and let Heineken to distribute it.
Hey, no change for 2 weeks!? That's a bomb! :) j/k When there is no change for at least 6 months we could say dilution is over. Still, very encouraging, though I expect us to hover in the 400M range by the end of the year. Accrued expenses and liabilities won't be paid with cash IMO.
Joe I think you misunderstood me. I just want confirmation from our Cali friends that OWR and OV are on the shelves. Like I said before that's my new buying/adding point. I have no reason to be doubtful about Mexcor's execution, but I prefer physical proof for this one.
It's Olifant but that's GREAT news regardless! :) Thank you!
Now, can anybody confirm OWR and Olifant is in Lucky and SaveMart stores?? Anybody?
"Oh well, at least there is no Mr. Rheingold to say anything negative. " - and no Mr. Olifant ;)
haha good one Lee
Totally! Since price of the drink is based on the brand of vodka I find it totally to make sense to push Olifant into bars. Imagine you order 2 red-bull vodka cocktails on GGV -> $15x2=$30 or you order 2 red-bull vodkas on OV -> $10x2=$20. And since I find little difference in terms of quality between two - it would be huge for Olifant sales.
"Well you sure can't sell it if it isn't out there,...in the past they would have all kinds of great ideas, but never got the product out there....they all seemed to be pumps."
And that's precisely, my friend, why I am excited about Mexcor deal. They can deliver!
James should know. The tall, broad-shouldered CEO of Indianapolis-based 21st Amendment Inc. has built an 18-store kingdom selling spirits to everyone from lint-pocketed college students to Riedel-toting executives.
The company, which began with a lone location on Michigan Road in 1971, now is one of central Indiana's biggest liquor chains. The national liquor trade publication Market Watch, which recently named 21st Amendment its retailer of the year, estimates each store rings up annual sales between $1.5 million and $4 million.