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It is a real company with growing revenues and running breakeven or profitable---profitable, imo. It got pumped by a couple of penny newsletters last week.
been watching this - can this thing avoid bankruptcy? A lot of debt and burning through cash.
Hi GQart, I unfortunately had audio difficulties and was in and out throughout the call. I emailed Ash and he said he will be posting a transcript of the call on the website.
They better beat $5m!! Its still not yet halfway through the year; I expect $10M in revenue or thereabouts or I will be disappointed.
I like how they were confident no new shares would be issued. I got the impression they are cash-flow positive/profitable, which if they are running at close to $10M in revenues, it would be a strong growth story. I believe they are in the right market with the right product.
but he said something to the effect of...."what i'm sure you all want to know is" about those first three contracts and then he was going to give some indication of the sizes of the contracts for Verizon early on....what did he hint at or say those three were each worth?
so what was the ballpark revenue figure that people got from the conference call? Naturally, I accidentally hit the end call button on my cell with my cheek right when he was talking about how much those 3 contracts were worth that were all supposed to hit in 2012. Later he said the revenue from the one slide alone was worth ~$3.5M.
So all told, what does it sound like SANT is going to do for 2012 in terms of revenue?
When did they front load though? There's been essentially no volume!! Did they buy some shares by someone who was paid in stock or something outside of the exchanges??
This company is not the pumping type.
Hi Bizzard, does it say whether someone paid for SANT to be promoted? And does it say if it was a 3rd party or the company? EliteOTC looks like a penny newsletter/promotional site and I am not too familiar with them?
thanks!
q3 2012
Hi Radium,
In one of the court documents, there was a pro-forma for the re-insurance business that had it doing $30M or so a year in revenues, but was losing money. So you expect them to run this off? Wasn't the plan to grow the legacy re-insurance business?
thanks!
I agree it is a nice idea, but they won't do it because the company is essentially a start-up. Cash = king so no dice on the buyback.
RESTON, VA--(Marketwire -05/04/12)- Santeon Group, Inc. (SANT.PK - News) today announced that it will hold a special update call on Thursday, May 10, 2012 at 5:00 PM (EST) to update shareholders and all interested parties on the progress of the Company's business efforts, recently-awarded contracts, its recent 2010 10-K filing, the status of its current year audit and its plans and strategy for 2012/2013. Subsequent to the prepared remarks, shareholders and other interested parties will have the opportunity to ask questions of management.
"Over the last twelve months, management has been focused on growing our business, acquiring new customers and expanding our products and services. I am eager to share the results of our efforts with our shareholders," commented Chairman and CEO, Dr. Ashraf Rofail. "The Company's operations and revenue have grown since our last update call in May 2011 and while our day-to-day focus is on business growth, I am committed to reaching out to our shareholders more frequently than we have in the past within the guidelines that are set forth by the SEC," commented Dr. Rofail.
You must register to participate in this call. To do so, please go to the following link and follow the simple instructions:
https://www3.gotomeeting.com/register/648189582
Upon registering for the call, you will receive the necessary instructions to participate in the call on May 10, 2012.
About Santeon Group, Inc.
Santeon Group is a technology company headquartered in Northern Virginia with offices strategically located in Reston, VA, Tampa, FL and Cairo, Egypt. Santeon offers products and services in Agile training and transformation, healthcare, energy and media. Santeon's goal is to serve emerging markets by providing technically superior products and solutions while reducing the cost of ownership and deployment of these solutions through a strong channel partner and distribution model. For more information please visit our web site at http://www.santeon.com/.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about Santeon's future business and financial results, refer to Santeon's Annual Report on Form 10-K that may be found at sec.gov or on http://santeon.com/Sec_Filings.html. Santeon undertakes no obligation to update any forward-looking statements that may be made from time to time by the company, whether as a result of new information, future events or otherwise.
Contact:
Investor Relations
Mark Guirgis
Acting Chief Financial Officer
Phone: 703-970-9200
markguirgis@santeon.com
http://finance.yahoo.com/news/santeon-announces-special-call-thursday-191000706.html
Southern Gal, you are right that Ash has had nothing to do with actually moving the price up. The stock price would be sub .005 had myself and and a friend not purchased over 5 million shares over the past 9 - 12 months from .004 up to .012. It will also go right back to .005 if the company doesn't start to validate itself this summer. Not a threat, just a promise. Ash has talked a lot, now its time for him to start backing it up.
I invested in this company/took a bet on it because they have a solid product offering in a hot market offered by some top notch experts. Its a nice, growing company but a good company doesn't always mean a good investment. If they can't show profits and stop issuing shares like paper money, you'll see 5+ million shares hitting the market and this thing will be cut in half. However, I am willing to invest in this for the long run if Ash backs up his claims. I could easily see this being a $20M+ market cap company - the big question will be, how many shares will be outstanding to get it to that level? If its 500M, then its a .04 stock....if they dilute it down and do a reverse split, I will be gone. We'll know in the next few months if this company is the real deal or not.
I thought this deal may be peanuts as I had never heard of MITRE before but I found this on their site:
Staff Statistics
MITRE has 7,600 scientists, engineers and support specialists—65 percent of whom have Masters or Ph.D. degrees. Staff members work on hundreds of different projects across the company, demanding a high level of technical, operational, and domain knowledge.
So hopefully its a decent sized contract.
But they had $1.2M in sales in 2009 and $1.274M in sales in 2010 per the latest 10-K so we're way behind the 8 ball on that.
Thank you for posting the article in your previous post---it presents SANT in a positive light. I definitely like the fact that the company went from 12 or 13 employees in the fall of 2010 to 47 employees in the latest 10-K.
Is that thing still sucking the life out of SANT?? I thought they were focusing on building up Santeon's business and exiting the other crap.
From today's PR:
"A restricted legend has been placed on certificates representing the Company's new common stock."
has anyone sold WMIH that they were issued through distributions from the reorganization?
Who is selling stock if all the new shares have a restricted legend? I'm used to restricted legends in the rule 144 sense where they are locked up for at least 6 months.
I spoke with Mark Guirgis yesterday. Luckily for SANT shareholders, he is taking over IR responsibilities. Ash may be very innovative, but he doesn't know how to deal with investors, how the stock market works, etc. I think he's a victim of drinking the own kool aide he makes. He should NOT be CEO of a publicly traded company; COO or CTO would be better suited for his abilities. Let's hope Mark Guirgis gets increasingly involved with the company and I am glad to see he took some equity in lieu of pay for his services; I like seeing him have some skin in the game.
Has anyone spoken with the company/counsel, etc. that has given a confident response as to how much in NOLs the WMIH will take forward? From what I read in the disclosure statement, it could be $7B and change, but that is if the IRS determines the newco to be a continuation of the business before BK. And what is with the max of $6M a year comment?
Any thoughts would be appreciated.
It is disappointing to see the shares outstanding so bloated, especially since Ash has been talking about doing a SHARE BUYBACK since Dec. 29, 2010 in the press release and the webcast that followed later that day:
"The Santeon board of directors is scheduled to meet after the closing of the Transaction to discuss the growth of the Company, as well as a potential stock buy-back program."
I don't think Ash said that. The quotes are listed before the person who said them. I believe he said:
"Very few innovations that transforms our lives are originated from large companies."
"An innovative idea without the proper execution framework will end up on the shelf or late to market. There is a strategic approach to reducing risk and to provide an environment for successful innovations"
- Dr. Ash Rofail – Chairman/CEO Santeon Group
Hi Catz,
Do you have any contact info. for Alvarez as to what happened with the DIMEQ as far as the option to convert some of the cash due to notes and/or common stock? I held DIMEQ and they have yet to make any distribution to me of WMIH, notes or cash.
thanks!
Filing won't get this volume; it had essentially no volume back when they were filing. It will take news releases of contracts and revenue and income guidance to attract buyers. However, the company has said they won't be putting out PRs until the filings were done. Penny stock traders/investors don't look at SEC filings in general.
Guess you can ask about that during the conference call next week?
10K filed!! Let the party begin!! eom
why lie? if this thing was trading a ton of shares a day = insiders dumping shares or the company issuing new shares to dump on the market, then it would make more sense. But quite often, this stock doesn't trade but a few thousand shares a day! If it was a pump and dump, why aren't they putting out PR after PR??
Just doesn't make sense. I think its being mismanaged and they hired an auditing firm on the cheap and that was their biggest mistake.
What will the O/S (ballpark) be for the new company? No way this thing trades at .20-.50 with only a 500M authorized share count and 5M preferred, billions in NOLs and a solid, albeit small, capital structure. And no way they wait until two quarters of reported profit to list it either, imo. Many of these BK companies will start off on the pink sheets and then move on to the NAZ or NYSE (where I think WAMU will be by the end of next year). The value for potential acquisition targets won't be so much based on the common stock's share price, but utilizing the NOLs to be able to not have to pay income tax, and thus freeing up more $$ for potential distributions. If the common stock is hammered down share price wise, the preferred stock could be used as currency, plus there's the financing from the creditors.
I opted to take as much new WAMU stock in lieu of cash or run off notes as they'll give me. I'm sure many others did as well. If it trades for something silly like a $150M market cap, I'll double or triple up.
Hey Radium, thanks as always for keeping those of us up to date who haven't had the time to follow this case closely. I owned DIMEQ at time of the vote, and opted to have as much of the cash/notes due to me converted into common stock as possible---I see a lot of potential for this company.
I saw you said the new securities have to be issued within 10 business days---where did you see that?
I would think someone would try to get the stock trading on the pink sheets ASAP as some stakeholders with large positions will want to be as liquid as possible.
Do you know when the senior creditors are expected to receive distributions? Or any wild a%& guesses?
thanks!
Hi Icu2, I think you are thinking too far in advance...I am sure the post-BK WAMU will acquire a company/some companies, but in the meantime, there will be a WAMU that exists as soon as the BK is finalized, likely this week. The conversion rate as you stated is how many shares in the post-bk company you will get for every share you held in the BK company. The post-BK company is essentially a shell with a line of credit, a lot of shares and a ton of net loss carryforwards. Until they build up a business, it doesn't really have operations.
When the BK exit PR comes out, usually that is the last day the stock trades. I expect that this week, maybe tomorrow as others have said.
Yes, I saw that, but keep in mind the company can immediately get listed on the pink sheets; that is somewhat common for post-emergence BK companies, and then uplist when the filings are caught up on. I wouldn't think they'd wait to distribute the equity and allow it to trade until the filings are caught up on.
What?? Why would it take so long before newco starts trading?
Usually when a company exits BK, the old stock stops trading nearly immediately and fairly shortly thereafter the new stock starts trading.
DIMEQ holder here...any estimate on when the new WAMU shares may trade?
I opted in and it just says I can't sell my DIMEQ shares.
Audits/re-statements can be messy. Krispy Kreme spent years on a re-statement.
Ash clearly shouldn't be the CEO of a publicly traded company; this thing probably shouldn't be publicly traded at all to be honest.
But I think they will file the financials this month (I like the hire of Guirgis last fall) and I think with the information available on the web, much of which you have posted, this thing is way undervalued once they start acting like a publicly traded company.
How long have you been a SH?
It will be nice to get some PRs and volume on this stock!!
Are we the only shareholders? haha Company seems to be doing quite well from several indications but until they file with the SEC and start releasing news, we won't see any price movement.
I don't blame you. The question is: who is going to take the ball and start an appeal? It will take someone with very deep pockets to keep this case going.
so the "hold-outs" would just get the .05 or whatever per dimeq in cash and the all but certain worthless class 19 claims then? that could partly explain the reason for the stock price's drop from .086 to .055 the past couple of days.
If it gets to .04 I may buy it just to try to get the .05 per dimeq in cash. :) So for the next year this thing should be flatlining at .05and change barring any new legal moves.
I saw that you could trade it for a year if you don't opt in or out, but I never saw the wording that you can opt in or out for a year. How will that work----they will issue you WAMU stock 6 months down the road and pay you the cash?? Then people could essentially "wait and see" what WAMU stock did before deciding. Doesn't sound quite right...
yep! hey, I personally opted in and am taking the new wamu stock, but i hope the dime bancorp holders get what they were supposed to get!! I just don't see anyone with the money to want to keep fighting the good fight.