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Taking it private may not even be an option for them in spite of any wishes to the contrary by the company. I don't think they'll go broke (unless DoD falls out of grace for political reasons) and I don't think their share price will appreciate as long as DoD remains their primary revenue stream. I think it's pretty much dead money but I'll continue to hold. I bought mine a long time ago when it was even cheaper than it is today. That's how long ago it's been! <G>
Pat
Perhaps a poorly chosen word on my part … "content" may be a better word than "happy". It just doesn't "feel" like the goals/priorities of the company and shareholders are in sync. Would they prefer that things improve? Of course. For the shareholders' sake? Probably not as high on their list of reasons as we'd hope it to be. I don't believe they are "anti"-shareholder. I just don't believe they think about us as much as perhaps they should as a public company. Insiders aren't rushing to buy additional shares for the same reason that few others are. That's understandable to me. All investors like to see share price appreciation in return for their risk. Insiders can see that this hasn't been the case as well as we can.
I've suspected for some time that they would prefer to take it private so that they could dispose of the additional administrative burdens associated with being a public company. Do they reluctantly remain public due to some esoteric legal or regulatory issues involving DoD/Federal contracting? Is there a small business contracting advantage to being public vs private due to the nature of their work? I don't know.
We'll see what happens. As to a fair price to take it private? I don't have a clue. I don't have to be made happy. I'd settle for a feeling of "contentment". <G>
Pat
Don't forget that DoD is very happy with them. Unless they have a colossal failure of some sort their "sugar daddy" is pretty reliable. For their continued survival they need to keep their eye only on that ball. If DoD ever runs into funding issues beyond their control, MKRS would be forced to walk the plank with them. Their ventures to diversify their revenue stream have not been particularly productive in spite of years of effort. They know with certainty who keeps them alive. Hint: it's not the "pesky" shareholders who are at ground level at best on the MKRS totem pole. We all wish that wasn't true but sadly it has been for years. I'm afraid they're a one trick pony and it may always be that way.
Pat
As long as the agreement has been finalized and we still can't divulge the client, I'm content. We should be able to hold these prices or lower for another several years.
Pat
I'm still one who believes that Meany is delighted with the way things are going. He's happy. The family is happy. Management is happy. The employees are happy. DoD is happy. Everyone for whom he cares about is happy. How could it be better for those whose interests he considers important?
Pat
Should be good for about a 10% nick if things remain unchanged this morning.
Pat
"How can this “scam” be still around? Why hasn’t the accusers reported it? Things that make you go hmmm."
Because only two people follow it?
(Groundhog Day!)
Good point. There must be half-dozens of folks! My bad.
Pat
"Scam as some have said? Why haven’t they reported it? Hmmmm...."
Because only two people follow it?
Pat
Sad but true, velcro.
Pat
Finally, they've reached a deal after lengthy negotiations. It looks like they didn't get the deal they were after all of these years. The PR says they got " a cashless acquisition of worldwide rights for a family of single engine Turbo-Prop industrial aircraft." They must have been after a deal that would pay NEIK to take this company off of someone's hands. As it is, they're just getting it for free. <G> No wonder negotiations are taking so long. NEIK was driving a hard bargain!
This is their standard empty PR statement that we've seen so many times before. First, the deal "enables" them to get a cashless acquisition. It doesn't say they actually agreed to a cashless acquisition. It merely "enables" them to get a cashless acquisition. Read the PR carefully … As further stated, they are "working with that company to secure the approval of this agreement". That means they don't yet have it so negotiations continue. Second, every sentence following that wordplay talks about what they intend to do in the future. "Northstar is planning an international expansion …"; "Northstar plans to leverage its new aircraft design features to become a leader …"; "we can now focus on working with the overseas company to eventually reach the stage whereby Northstar will be manufacturing the Aircraft."
There's not one hint that they are beginning the execution of these lofty goals. This is a list of things that they'd LIKE to do if they could just finalize some kind of agreement with somebody. It sounds rosy until you read what they've actually said. In summary, they will continue negotiating while dreaming of what they'll do if it ever materializes. Yeah, right. I've got "plans" to be the world's largest philanthropist myself. If I could just get my hands on a whole bunch of money ….
This ought to give them another couple of years worth of existence with this dream.
"…. hope ol Nolan doing something in the background"
He is. He's plotting how to get your money that he hasn't quite gotten all of yet. <G>
Pat
I wouldn't do that to a friend if I'm thinking what you're thinking! <G>
Pat
I think it's already safe enough to predict another split in another 12 months. JNUG is good to trade for a couple of days at best. Holding longer than that is rolling the dice.
Pat
Thanks, molee.
Pat
What's the scheduled date for the split again?
Pat
"Normally" a company would tout successes in pilot projects. They can provide great PR opportunities. There are two possibilities going on here …. 1) there aren't notable successes to report, or 2) the pilots are going well but management just has no interest at all in keeping anyone informed. I suppose the third possible option is that they are failing. I'll give them the benefit of the doubt and say that this is the least probable scenario.
Who knows what's going on with these guys? That's the problem for anyone with an interest in this company. It's a shame really but they're doing precisely what they want to do. I continue to believe that their apparent lack of interest in investors and the share price is not an oversight on their part. I think their managerial behavior is in concert with their plans.
Pat
MKRS may be thinking along those same lines which might be why they want to accomplish their goal of taking it private prior to Zeff having extra time on his hands after a TSRI resolution.
Who knows …
Pat
Zeff is in for a "burning" like the rest of us are going to get, IMHO. Maybe he's still in for eventual tax write-off reasons.
Pat
He's been giving estimated dates on the conclusion of negotiations for years. They're always just around the corner. You don't need to contact him. Just understand that it's still just around the corner.
NEIK …. a company of the future …. and it always will be!
Pat
"Quarterly Report does not mention the "Mikros Mindr"
Nor does it mention President Malone."
Would that be unexpected?
Pat
MKRS seems to have their hand in more pilots than an Air Force proctologist. When will they finally get a meaningful contract with someone in the private sector to aid in their diversification? This one trick pony doesn't appear to draw much investor interest based on their comfortable romance with the Navy. If DoD runs into budget difficulties because of a dysfunctional Congress, their little bit of heaven is going to need an alternate revenue stream to weather the storm. It seems they've been trying for years to develop something else with little to show in terms of revenue. I'm beginning to believe that some of these pilots are little more than R&D hobbies for them to keep engineering skills somewhat sharp.
Pat
He's probably a month away from having a deal to enter into "final" negotiations. Of course, "final negotiations" will be a complex and lengthy negotiation for a deal of this imagined magnitude.
Pat
Taking it private seems a far more logical endgame than anyone successfully trying to wrestle control from current owners. I just don't see a need for management to personally purchase shares in the open market when they can collectively create new shares and give those to themselves as bonus compensation. It accomplishes the same effective defense against takeovers with no personal expense incurred. The lower the share price at the time they receive the new shares, the less income tax consequence for them. There may be an incentive to drive the share price lower. We'll know at some point in the future.
Pat
Again, it's difficult for me to comprehend how it could be a bluff when they are quite candid about essentially putting in place "insurance policies" that will prevent the math from working for anyone who attempts to gain control. They're not the least bit timid about letting everyone know. I suspect that they may have put those paragraphs in the report to discourage anyone from even thinking about launching a coup so they don't have to incur otherwise avoidable legal expenses.
I don't pretend to understand all of the intricacies of takeovers, hostile or otherwise, but it sure seems like they've recognized the need to protect their gravy train from anyone who might contemplate such a move. Their situation is too lucrative to risk sharing the golden calf with anyone outside the circle. As I've suggested before, shareholders are little more than pesky but harmless gnats in their world.
Time will tell how this plays out but I'm not particularly optimistic that much is going to change in the foreseeable future …. and even beyond. It's good to be a Mikros Systems insider! I'd love to be wrong.
Pat
I still can't understand the threat from Zeff. If the insiders have the majority of shares, disgruntled shareholders can't change the course of the company by outvoting them. If Zeff wants to start accumulating, the only shares available to him will likely be the shares from disgruntled shareholders rather than insiders which won't alter the balance of control held by insiders in any vote. Even if the math of accumulating a slight majority of shares was possible for Zeff, what's to stop management from issuing new shares to themselves to preserve their majority of shares as a defensive measure? They would surely see that Zeff was building a larger position and might be a threat so they could vote an increase in the float and issue more shares to themselves before Zeff acquired a majority.
I have owned this stock for years and still have a paper profit but the company hasn't matured like I expected from the time I bought this well over a decade ago. I just believe that management has taken extreme defensive measures to preclude anything from interrupting the status quo. They are perfectly content. I understand their point of view. I don't like it, but I understand it.
I sure wish a caped hero would come on the scene to change the way things are but I must be too thick to understand how it could be done if management doesn't want it changed … and I don't believe they do.
GLTA
Pat
I'm still not sure I understand what Zeff can do. To simplify, are you saying that Zeff essentially buys sufficient shares to gain controlling interest in companies in which he has an interest? How does this differ from a hostile takeover which MKRS seems to have taken precautionary measures to preclude?
If Zeff is buying up shares, he's doing it at a glacial pace. There really hasn't been any volume for this stock in years.
I'm not attempting to debate what you're saying, I'm just trying to understand how Zeff can make an impact on a company like MKRS that seems to be proactive in protecting the status quo which is hardly shareholder friendly. Thanks for the discussion.
Pat
Help me to understand the potential benefit of Daniel Zeff. If unleashed, what is it that he does? TIA
Pat
I don't think anything is "going badly" with MKRS. Quite the contrary. I also believe that no one will waste the legal expense of making an attempt to buy this company when the company has made it very clear that they have absolutely no interest in disturbing the status quo. The share price will not be a matter of concern to management until they are interested in selling. This is a very comfortable and content company with the situation just as it is. It has demonstrated that for years. I don't believe they have any interest in rocking their boat. Shareholders are interlopers who simply must be tolerated in their world. Life is good for MKRS managers and employees.
Pat
The report today sounds like they're pretty well protected from anyone acquiring them. I think the only way they'll be sold is if they choose to sell to someone. Not likely. This is a profitable little company and the 30+ folks that work there are as happy as clams with the status quo.
Pat
I wouldn't worry about his non-responsiveness in the last couple of weeks. I'd be more concerned about the non-responsiveness of his partner in the negotiations for the last couple of years.
Pat
Is their business acumen as good as their PR appears to be? Or is this just another hint that this company is flying by the seat of its pants. It will likely be very obvious in the course of time.
Pat
The new question is this …. After the reverse split, how long will it take to get back down to today's price? I'm guessing four months.
Pat
Yuh think?
Pat
All of them, of course! Can't you see that based on the tremendous daily volume? Individual investors don't have that kind of money to throw around! (LOL)
Pat
I wonder if they can't keep up with the demand for the plane because Wilson is occupying so much of their time with his skillful negotiating prowess.
Pat
Agree … institutions seem to be getting in big time! The big boys and smart money are speaking. They're dropping HUGE money into this stock …. about $25k per day (assuming there are no individual investors trading the stock). There's HUGE interest in this stock. Better yet, the company is flexible enough to continually change their product emphasis. That's always a sure sign that a company is on the right track. LOL!
Pat
It might be a very shrewd way to run the company if we knew Meany's real motives.
Pat
"Would be nice to know "WHO" the International Aerospace company is."
I'll bet Wilson would like to know that too!
Pat