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DRCT - Thinking about it, if they have that huge reliance on one customer, the insurance does make sense. This from the lastest 10-Q:
That's a good resource for otc screening. Too bad you can't get everything in one place.
It would have been a good place to find MCPH. It was trading at $5.45 with a tangible book value of around $37 when the company entered into an agreement to be acquired for between $31.00 and $32.50 per share. There's gold in the otc market, but you need to have a whole lot of patience.
FINVIZ - That's the screener I use. I just wish they would include otc stocks.
DRCT - The accounts receivable insurance (which they say is unique to them in this space), and the history of that director are the two things that caught my attention. Why would you have a guy with that type of history on your board of directors?
It slid all the way down to $10.50 this morning, but is up a buck or so from that level, so their report is not having a huge impact as of yet.
DRCT - Direct Digital Holdings shares down 12% following cautious White Diamond Research report
Haven't seen the report yet.
https://whitediamondresearch.com/
VASO - Yup, clear as mud! (eom)
VASO - Reply from investor relations:
VASO - I just sold out. There are just too many unknowns at this point for my liking.
VASO - I just sent off an email to investor relations asking for clarification on the terms of the merger.
VASO - Looks like the SPAC raised 100M with their IPO:
https://mjbizdaily.com/marijuana-spac-achari-ventures-goes-public-in-100-million-ipo/
VASO - That's what I've been trying to figure out half the morning. After reading through the filings, I still don't understand what the VASO shareholders will receive (exchange rate) in this merger. The fact that the new company will be trading on Nasdaq is a big plus, though, for sure. Liberation from the pinksheets! I bought some this morning at 29 cents.
PLSDF - Another good-sized sale and another special dividend:
Pulse Seismic Inc. Announces $8.5 Million Seismic Data Licensing Agreement and Declares Special Dividend
GlobeNewswire - Dec 06 18:58 EDT
CALGARY, Alberta, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) is pleased to announce the signing of an $8.5 million seismic data licensing sales agreement. In addition, the Company has declared a special dividend of $0.20 per common share.
The licensing agreement announced today has two components, with the first tranche comprising $5.2 million of data being recognized as revenue today, bringing year to date revenue to $37.3 million. The second tranche, comprising $3.3 million of data, will be delivered to the client in January 2024 at which time the related revenue will be recognized.
The special dividend, totaling approximately $10.5 million based on Pulse’s 52,637,463 common shares outstanding as of December 6, 2023, will be paid on January 8, 2024, to shareholders of record on December 21, 2023. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pulse’s dividends are subject to Canadian withholding tax.
“This is the fourth material data licensing agreement that Pulse has announced in 2023 and signifies a momentous improvement over 2022 sales levels,” stated Neal Coleman, the Company’s President and CEO. “Subsurface data is an extremely valuable risk mitigation tool utilized in the energy industry, and we are certainly pleased to contribute to our clients’ efforts to maximize the value of their projects, while also increasing returns on our asset, the largest licensable Canadian seismic data library,” Coleman continued.
Pulse has a strong balance sheet, including robust cash reserves and no debt. The Company continues to operate with a lean cost structure, has high EBITDA margins and low ongoing capital requirements. Significant sales such as the one announced today, produce material incremental free cashflow for the Company and allows the return of significant capital to shareholders.
In the second quarter of 2023 the Company increased its regular quarterly dividend by 10%, to an annualized dividend of $0.055 per share. Additionally, a special dividend of $0.15 per share was paid in the third quarter of 2023. Including the dividend announced today, a total of $0.40375 per common share has been declared, representing a $21.4 million return of capital from dividends to shareholders in 2023. The Company also utilizes a normal course issuer bid to purchase its shares on the TSX and has bought and cancelled 989,406 shares in 2023, contributing $1.9 million to the $23.3 million in total capital returned to shareholders year to date.
CORPORATE PROFILE
Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the largest licensable seismic data library in Canada, currently consisting of approximately 65,310 square kilometres of 3D seismic and 829,207 kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin where most of Canada’s oil and natural gas exploration and development occur.
For further information, please contact:
KEQU - Speaking of low floaters. This one only has 2.1M shares in the float. When you add in a great earnings report (with what looks to be an abnormally high tax rate), a sequentially rising backlog, and positive commentary, there's a lot to like here.
I have never liked ThinkorSwim either. I tried it multiple times, and each time got frustrated trying to do things that should have been very simple.
That's an interesting idea, Bmrboy. I have done some stuff with these low floaters in the past. Like you alluded to, patience is key. When the market is in high spirits these low floaters can just fly. On the flip side, when the market is in the doldrums, they can really languish and bleed down especially the more sketchy ones. So much depends on the mood of the market since it doesn't take much to move these stocks. If you're in the right one at the right time, you can profit handsomely.
I just saw your post this morning. I was on a mini vacation in D.C. for five days. I got the pleasure of seeing my favorite team, the Commanders, get blown out by the Dolphins, 45-15! It seemed like at least half of the crowd was Miami fans. Ugh.
MINM - It's a low float special with a 1.11M share float.
DRCT - That's a great way to look at things. It was a fantastic find by hweb and then some great due diligence by gilead.
Thanks, researcher, gilead, and nelson. Still pi$$ed at myself about that post. I've officially put myself on double secret probation.
DRCT $11.99 + $1.67 It's disheartening to watch this go straight up today after closing out the position yesterday. I was not selling any shares yesterday until I saw those filings that I thought were a precursor to an offering. I feel worse about the fact that others may have been prompted to sell by my post.....
DRCT - The thing is the company redeemed the warrants:
Direct Digital Holdings Announces Completion of Redemption of Outstanding Warrants
PR Newswire - Oct 31 09:00 EDT
HOUSTON, Oct. 31, 2023 /PRNewswire/ -- Direct Digital Holdings, Inc. (Nasdaq: DRCT) ("Direct Digital Holdings" or the "Company"), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC ("Colossus SSP"), Huddled Masses LLC ("Huddled Masses") and Orange142, LLC ("Orange142"), today announced that it completed the redemption of its outstanding warrants (the "Warrants") to purchase shares of the Company's Class A Common Stock, par value $0.0001 per share (the "Common Stock") that remained outstanding following 5:00 p.m. New York City Time on October 30, 2023 (the "Redemption Date"), for a cash redemption price of $0.35 per Warrant. A notice of redemption was distributed on October 23, 2023 to the registered holders of outstanding Warrants announcing the redemption pursuant to the terms of the Warrant Agency Agreement, dated as of February 15, 2022, by and between the Company and Equiniti Trust Company, LLC (formerly known as American Stock Transfer and Trust Company, LLC), governing the Warrants. The redemption follows the expiration and closing of the Company's offer to each holder of outstanding Warrants to purchase any and all outstanding Warrants for $1.20 in cash per Warrant, without interest.
The Warrants were listed for trading on the Nasdaq Capital Market ("Nasdaq") under the symbol "DRCTW." In connection with the redemption, the Warrants ceased trading on Nasdaq and were delisted, with the trading halt announced after close of market on October 30, 2023. The Common Stock continues to trade on Nasdaq under the symbol "DRCT."
About Direct Digital Holdings
Direct Digital Holdings (Nasdaq: DRCT), owner of operating companies Colossus SSP, Huddled Masses, and Orange 142, brings state-of-the-art sell- and buy-side advertising platforms together under one umbrella company. Direct Digital Holdings' sell-side platform, Colossus SSP, offers advertisers of all sizes extensive reach within general market and multicultural media properties. The Company's subsidiaries Huddled Masses and Orange142 deliver significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale for businesses in sectors that range from energy to healthcare to travel to financial services. Direct Digital Holdings' sell- and buy-side solutions manage on average over 136,000 clients monthly, generating approximately 250 billion impressions per month across display, CTV, in-app and other media channels.
DRCT - I think I was wrong regarding that filing. It appears to be related to the registration of shares associated with the warrants. What's odd is that the company redeemed the warrants, so maybe this is just a housekeeping procedure. That S-3 is still looming, though:
https://www.sec.gov/Archives/edgar/data/1880613/000110465923048396/tm235210d1_s3.htm
DRCT - I'm totally out now. I think there is a good possibility of getting in cheaper after the placement announcement, if in fact, it happens.
DRCT - Looks like they are prepping for the offering. This just came out:
https://www.sec.gov/Archives/edgar/data/1880613/000155837023019350/tmb-20231128x424b3.htm
DRCT - I agree, if the first 15 minutes are any indication, it could be whipping around violently all day. Might be a great trading stock today. I put orders in at 10, 9, 8, 7, 6, and 5 in anticipation.
DRCT - Direct Digital price target raised to $12.50 from $9.50 at Roth MKM
The Fly - Nov 28 07:43 EDT
SCKT - He bought another 5,000 shares today. He is actually a director. He started buying early in the month at $1.00 and has continued buying into the $1.30s.
This one has been in the dog house for awhile. I think this dog will see its day, but it may just take some patience. Tangible book value is around $2.29 a share. They just need to start making money again.
DRCT - Now trading over $12. The estimated borrow rate at Etrade is 102 percent.
SCKT - Director/10 % owner, Charlie Bass continues to buy 5,000 share blocks:
https://www.sec.gov/Archives/edgar/data/944075/000094407523000095/xslF345X05/primary_doc.xml
DRCT ($9.67 + .78) blasts through to another 52-week high! It's officially a juggernaut!
MICS - I just unloaded the last of what I had. I think it will be back around a buck or below very shortly. It started jumping when this Form 4 was issued today showing a million plus shares bought at 91 cents. It was part of a private placement and not an open market buy, and the information was already public.
UUU - I actually shorted a few when I saw the report come out on Monday. I figured it would be a good day trade. When I saw that huge bid appear later in the day, I immediately closed it out. I did not want to tempt fate!
UUU - Now really imploding! Traded down all the way into the $2.50s. Congrats on that trade. On earnings day there was some crazy person with a huge bid of I think around 80k shares in the $3.80s! Hopefully he didn't get them! These low floaters..........
Happy Thanksgiving, everyone! (eom)
Handy link, cintrix (eom)
BOIL - New low today. I was thinking about doing something with this, but then saw that it generates a dreaded K-1. Those things are a pain in the hindquarters.
https://www.proshares.com/resources/tax-and-filing-documents/k-1s-form-1065
DRCT $8.50 - I've peeled some. It is really hard not to. If their numbers are legit, though, it could have quite a ways to go.
DRCT just blasted through $7.00 for a new 52-week high. Big muscles on this one.
CVU $2.33 - I bought some of this today for a longer term investment. Company has had its share of accounting issues in the past. They lost their NYSE American listing last year for failing to timely file their SEC reports and were bounced to the otc market. Upon catching up with their reports, they regained their listing. They did bring on a new CEO last year, so hopefully she will be keeping a sharper eye on the accounting. They did get their last Q out on time.
Their last quarter wasn't very good which probably accounts for where the stock is trading. They have a huge backlog of over $500M. They are paying down debt. Customers include Boeing, Lockheed, Raytheon, and the U.S. Military. Stock is trading close to its 52-week low of $2.25. I think this is a pretty good entry point, and I will be looking to average down if the price falls from here. A decent sized order announcement or a good Q would likely propel this one north of $3.
AMS - Supposedly it is going to be accretive:
DSWL - I added some on the report. Even though it is a China stock, that dividend gives it legitimacy in my opinion. Like so many other undervalued and unloved microcaps, I think it will have its day. The only question is when.