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I see safety but not much upside for PIOE, by the way. All followers of the stock know what management has said about their earnings looking forward, so that expectation is in the price already.
If PIOE just goes along doing what it thinks it will, then why will the share price increase?
Since PIOE tends to report news only at earnings time, maybe some want in in July and therefore the ask can rise with some demand.
But mainly PIOE is an unknown in the world of trading.
I do want in, though, because of safety and trying to time a positive surprise. I'm hoping that it will happen in early August.
I've moved my bid up, but 10% off even looks hard to get at the moment. The plan is still to get completely back in by July 4.
10 cents is getting close. I'm a buyer under 13 and picked up shares, but I don't have much company. Malone's 8 cents is now reasonable to expect, but here's hoping it doesn't happen.
I'm certainly persuaded that your calm and upward assessment of the PIOE share price is most likely correct. That is why I am not hurrying to reenter except in the unlikely event of a shallow share price dip.
But then, all of a sudden: BOOM! PIOE announces major new acquisition and price triples. Or PIOE drops some news that it is applying to list on the NYSE. I consider these unlikely events as well, but perhaps more likely than a major deterioration of the share price.
Year-to-date low is around 10 cents, so at least we are not back there again.
First quarter: $0.85 Second quarter: $1.45 Flat as a gravestone.
Supply and demand for PIOE shares stays very balanced. There seems to be no effect by anticipation of earnings reports or news. This says to me that there is not enough money in from traders or speculators to make a difference. The larger money is able to do enough buying and selling to keep the share price locked in a range until real news (not anticipation) moves the price. Now by "larger money", it wouldn't take much since volumes are low, but something is causing the share price to not drift very much or for very long.
I had mostly stepped out during this "flat period" for that reason. And if the price dips to $1.21, I will be in automatically. A 17% dip seems to be too much to hope for, though, even in the "volatile" pink sheets.
I expect now that I will have to pay at least the $1.40 I sold for, to get back in around the 4th of July. I don't want to miss the bus to the next level at the next earnings report.
C'mon! Somebody get bored and sell me some!
While on vacation I had an order in for PIOE shares @1.21. It was never filled. I am risking missing the next big move up with some potential investment dollars, but I do still have some shares.
We have been flat since the Ides of March. What will be the Vehicle that will move us up from here? Or as another song says (no doubt referring to PIOE):
"Grab a hold of my super hand,
Take you to a never never land
Great Caesar's ghost, I'll be your Superman"
Do you think RCP4 will be PIOE-owned? Or is it possible that RCP would form an entity that is outside of PIOE and just owned by their principals?
Hello from Dublin, Ireland!
Not me selling this time. I'm done. Sad how 5k shares punches right through $1.46 bid level.
I couldn't resist $1.45 bid so I sold a few more to get my average proceeds up. But if there is a dip, my order is there to put me back in. And if there isn't a dip, I may re-enter by 4th of July or so anyway.
I don't know if my sentiments and resulting strategy are useful to the board. I know it doesn't shed any light on company actions. But it is a slow day in a slow week.
I’ll pick up some shares on a 17% decline. The good-til-cancelled order is in. Hard to decide these things, but I believe that is actually below where it is likely to go. Maybe I will be surprised and find the order filled someday.
With my luck, the stock will test its $1.85 high tomorrow morning! (OK, I win that way, too.)
That's me. And PIOE is so channel-bound that $1.25 might be low enough to replace some of the $1.40s I sold.
What I said was, "P10 had $7MM in revenue in the first quarter, but that didn't put any cash on the balance sheet." I read that the revenue was exceeded by expenses for an operating loss.
However, you are right. $2.911 million came from operations because the expenses of "amortization of intangibles" and "non-cash interest expense" did not use cash. Another $0.503 million came from investing activities and $0.721 million was spent on financing activities.
So cash did increase, but mostly because a great deal of their operating expense (causing the loss) did not involve cash.
Yes. $600 sent it skyrocketing!
Do you get the feeling RCP likes the stock in the pink sheets and range-bound at 1.40/1.45?
P10 had $7MM in revenue in the first quarter, but that didn't put any cash on the balance sheet. Increased expenses used that and more, resulting in a small loss. Will that pattern continue?
It is a mystery to me. PIOE had $4MM in tangible assets before acquiring RCP. It still has $4MM in tangible assets. (Debt issuance costs and deferred taxes not being counted as "tangible" here.)
So how did a consolidation of the RCP and PIOE books result in no new tangible assets? Does RCP have no cash, A/R, etc. to consolidate into PIOE? Somehow what RCP has doesn't show.
PIOE took on a huge debt so an accounting entry could have been entered to offset the debt by huge negative equity. But that would no be right, because PIOE acquired RCP by taking on debt far above RCP's book value, so the difference is termed "goodwill". It happens every day, I guess.
When the earnings start coming in, I suppose the debt will reduce, as you say. But will PIOE actually show more tangible assets such as cash, or will they just reduce the goodwill? Maybe that doesn't matter because PIOE is not near a fire sale.
I just fundamentally don't understand a basis for whatever the share price might be. It is above my comprehension on how such things as price-earnings ratios, book value, etc. tend to work.
The market is not justifying its price on book value, except at a high multiple. The justification must be on future earnings expectations. This is certainly not unusual in the stock market.
I don't believe PIOE is under any pressure as a going concern since the debt arrangement is probably all with insiders and there is no outside pressure of that kind.
My problem is that I don't have any idea why the price is where it is at since RCP's decisions may be able to either push more capital into PIOE or leave PIOE without much profit to show. Will this fluctuate wildly? I doubt it because there is probably an agreed-to formula.
It doesn't take much volume to move the share price, yet it doesn't move very much. So I think most investors believe the structure is a solid platform. That is why I am just searching for a dip and not in a hurry.
I would be shocked if we go below $1. But also very surprised to hit $2 unless there is major news.
Looks like I pushed it into $1.31 with just a few thousand shares in a market order Friday, and with a volume at 500 this morning it is staying put. Sorry.
Now that I am a seller looking to get back in at a lower price, please take note of where I am coming from. However, I do have a substantial investment remaining in PIOE.
The recent balance sheet gives us a book value per share of 17 cents. If you take the extreme view that the goodwill and other intangible assets should not be counted, then you could say book value per share is negative $1.74.
Investopedia concisely says, "The amount the acquiring company pays for the target company over the target’s book value usually accounts for the value of the target’s goodwill." And, "Because the components that make up goodwill have subjective values, there is a substantial risk that a company could overvalue goodwill in an acquisition."
Now, the assets representing the goodwill could have appreciated way beyond their book value in PIOE's case, but I have no idea how to judge that. The other intangibles may turn out to have great value as well.
But these intangibles together account for 94% of all assets. Are the intellectual properties valued in the intangible assets at a high value?
The liabilities are 14 times the size of the tangible assets. So, if the intangible assets suffer impairment much at all, the equity will be wiped out.
This is not the structure I was hoping for. It seems that the lenders' sizable positions may not allow for much equity growth.
However, the intangibles could be rock solid if the book values are out of whack compared to present market value. The good reputation of the ownership helps me to believe that this is so.
But goodwill as listed on the balance sheet is not cash, receivables, inventory, or real estate at a tested value, is it? It is intangible.
If everything was rock solid, book value per share was 17 cents on March 31, 2018.
Pardon the late day hiccup. Yup, I "hit the bid" to finish my round of selling. I managed to pull about 16k shares out this week at an average of $1.37. About 3 cents under my target. I realized a good profit from the ACPW and pre-PIOE shares that I had.
Half my market order got $1.405. But, surprise! The bottom fell out to $1.31 on the other half. Nobody was hiding in Level II with any conditional buy orders, evidently.
I am still holding newer shares and will be looking for a bargain here if that should happen. Meanwhile, what is left could be said to have "negative cost"-- free shares, in other words.
Good company!
I'd like to buy more just like you, but the volume is so low that we still have to pay 18 cents for any appreciable amount. Whatever the low was today doesn't stand for much, but maybe I can pick up a few from those standing near the exits.
Good to see the price firming up again in the 1.40+ range. I've got some funds now, though, in case we have a dip.
I agree, too, that the NOL rules are complicated, from what I could dig up.
The good news, to me, is that PIOE has talked about future acquisition routes in their stated goal to maximize shareholder value. If their NOL situation would make that impossible, then they have been intentionally misleading us.
I find that to be extremely unlikely.
Yes. I'm still a seller at $1.43. But I expect to get back in later on. I will regret missing the next leg up if that should happen. There is such big money involved here that someone may not be letting the price slide by very much. Up or flat seems to be the pattern so far. I believe we are most likely in a flat zone for awhile, but it will hurt if I am wrong.
RCP Advisors had to remain under the 50% threshold or there would be a "change of ownership" of PIOE, the "loss corporation". So, at the acquisition, they announced: "RCP Advisors has received 44,171,233 newly issued shares of P10 (representing approximately 49% of P10 outstanding shares), alongside cash and seller notes."
If PIOE issues more shares (which RCP would not get), then RCP's percentage would retreat further below 50%.
What I don't know is whether a new shareholder of new PIOE stock would somehow be reckoned to be combined with the RCP block of shares. I doubt it, because how then could PIOE acquire anything? However, there might be a way, under that circumstance, by having RCP acquire something. RCP would still then be at 49%.
I also don't know if the "change of ownership" measurement would expire after a certain number of tax years.
Not even an opinion. Just a guess.
Today's low exiters have exited and I have the best ask again. Very impressive indeed!
Chemist, I am glad PIOE is not a very scary stock when it dips.
I'm a seller at $1.38 but a buyer at $1.15. Looks like I'm a holder for the near future.
Agreed. But if you ever fly SW Airlines, there are a lot of folks hanging around positions A-1.32 to A-1.35, if you know what I mean. But you are correct that the exit doors are closed at the moment.
$1.31 bid might buy a lot of shares this morning. They are lining up at the exits.
Then $82k was offered. I stand corrected.
If that big $1.35 ask was in NITE, it is probably still there hidden behind the $1.34 in NITE that has the best ask now. If I remember right, it was about $60k being offered. Above my league, for sure.
I may be waiting a few weeks to get my price. I think my analysis has resonated with a few. I may be a buyer again sooner than anticipated.
Whoops! Someone wants out at $1.35 in a big way. Not Me. Big opportunity if you are buying.
My $1.38 may be the opening ask this morning. We will see soon.
Since I am a bit negative on prospects at the moment, I have asks in all below $1.43 down to $1.38. I am just hoping to sell at the bid levels of the trading range prior to the report. If you want to go that high, they are there.
The account where I have PIOE is "aggressive trading" in my case. I use it for some speculative "fun" (except it isn't always "fun").
If PIOE is in a phase where more are leaving than coming in, then the price will subside for awhile. There are reasons why I think this is so:
1. The company doesn't seem to leak info causing rises on rumors
2. They seem to hold most news until they report
3. The next quarter doesn't end until June 30
4. The pink sheets are populated by traders who may be getting a bit bored with PIOE
So, it is tempting to me at least to get out for awhile and then re-enter later this spring.
Upside: I may get more shares than I have now for the same money
Downside: I may miss a rumor or news that sends the shares flying (or such as some big investor acquiring shares).
If this were my low risk portfolio, I might just hold through the summer. That is usually a pretty good solution for a "safe" investment.
But it's my "fun" money. You know, buy at 6 bits and sell for a sawbuck.
We are in a typical post-report dip, I suppose. It wasn't severe and appears that recovery to the old $1.40/$1.45 bid/ask won't be hard.
But the report yesterday short-circuited my hopes for some buying speculation that a late-May report would produce surprising news. I was wanting to ride the price up. But instead now we are post-news and have the "normal" condition of hoping for, at any time, some breathtakingly grand announcement out of the blue.
Ding. Ground floor. Going up!
Looks like a dip is about to begin.
Did someone hit your bid 16.2k shares for $1.40? I don't see a big bid like that right now.
It certainly has dried up lately.
I think that is weird. People bail out before news because they are afraid of what it may say. Or they try to get in ahead of what they think will be a happy surprise.
But in this case, the news is delayed. So everyone is probably already in place according to what each one believes will happen. Maybe that explains the lack of activity.
I am glad the share price is holding up to around the 18-cent aircraft maintenance contract compensation level rather than drifting too far down in fear that a potentially bad earnings report is causing the delay.