Bobwins,

How many investment baskets do you have? Energy, China, Metals, other?... You are becoming an economy on your own. Maybe if you could bend they ear of Helicopter Ben we could avoid a recession. I would also prefer to hear your analysis on CNBC. You have my full endorsement and support :)

Mat

Pseudo OT: To all, I asked this question on the survey board, but Len thought it would be worthwhile in this forum.

What do you do when you transition out of VMC or the market and into "cash"? Below is where I am at, but I am interested in other strategies or approaches.

As a Federal employee, the lion share of my investments are in the Thrift Savings Plan and a varying distribution of equities vs. bonds. I do have a decent sized IRA that has been almost exclusively index funds and VMC since the mid-90s. I don't recall a discussion on this board, although I may have missed it, for where VMCers invest their cash and bond when they choose to lighten their equities. Over the last couple of months I have been slowly liquidating some equities into a money market fund. Last month I thought it might be worthwile to invest a portion in GNMAs to take advantage of any short term reductions in interest rates. I know my question is completely unsofisticated, but I would be interested in approaches other VMCers take with their cash and bond holdings for maximum "safe" returns when they feel the market is turning or stagnant.

I do agree there are always good investments if you are a super sleuth like Bobwins or hweb, but if PSL has proven anything, it proves a number of us are middle of the pack at finding the great bargains and the VMC middle of the pack gets pounded in most downturns. Anyway, it is something I have been considering alot lately and thought, what better forum to ask for opinions.

Thanks,

Mat

Pseudo OT: Len and others who transition out of VMC or the market and into "cash"
As a Federal employee, the lion share of my investments are in the Thrift Savings Plan and a varying distribution of equities vs. bonds. I do have a decent sized IRA that has been almost exclusively index funds and VMC since the mid-90s. I don't recall a discussion on this board, although I may have missed it, for where VMCers invest their cash and bond when they choose to lighten their equities. Over the last couple of months I have been slowly liquidating some equities into a money market fund. Last month I thought it might be worthwile to invest a portion in GNMAs to take advantage of any short term reductions in interest rates. I know my question is completely unsofisticated, but I would be interested in approaches other VMCers take with their cash and bond holdings for maximum "safe" returns when they feel the market is turning or stagnant.
I do agree there are always good investments if you are a super sleuth like Bobwins or hweb, but if PSL has proven anything, it proves a number of us are middle of the pack at finding the great bargains and the VMC middle of the pack gets pounded in most downturns. Anyway, it is something I have been considering alot lately and thought, what better forum to ask for opinions.

Len, if this is inappropriate for this board, let me know where you think it would best be discussed. I started to put in on VMC, but decided that was not appropriate.

Thanks,

Mat

I will pick the Seahawks for week 1.

Thanks,

Mat

KIK,

Thanks for the contest, although my "accomplishment" pales in comparison to the leaders of PSL. If only I could pick 6 stocks a little better over the window of opportunity. I was expecting a correction, which is why I went short on one of my PSL6 picks, but did not have the conviction to stick with it and jumped to something else before the correction. Anyway, thanks to all who make this possible and congrats to the winners, who hopefully were rewarded similarly in their actual portfolios!

Mat

Mike,

I agree with your analysis completely. MDF has some risks, but the upside is good and downside is low as long as they continue to service Humana with the PSN. I would also point out that in addition to the AHC additions, they announced some Care Plus opportunities that may allow for growth of PSN as well. Still a couple of quarters off under the best case scenario, but still looking good.

Mat

Len,

Very interesting prediction and your logic is compelling. It will be interesting to see things play out, good luck.

Mat

Bobwins,

When you say Washington State, you must mean the Cougs right? Everyone knows that is where all the athletic talent is in this state...LOL. I mean look at Ryan Leif. Unarguably a better talent than someone like, Brandon Roy... Then again, just from a basketball perspective, it would be unfair to leave out the Zags. So when does basketball start up again? Maybe we can get a powerhouse to replace the Sonics when they depart for beautiful Okie. Is that really just a two step process to get them to Kansas...Hmmm I think I understand the prediction now.

Mat

Admitedly when MDF announced the closure of the centers prior to the 10Q I was thinking they might be headed south and I might be eating crow with some of the critics. I feared a poor quarter with an apologetic CC stating they were doing all they could do and look at the cost cutting move they had just taken. Those were my fears, but I was pleasantly surprised with the innovation and multiple prong strategy I heard in the CC. Even the closures made sense and they were coupled with other strategies that made even more sense. I realize some believe MDF could do better with another CEO at the helm, but I have been impressed by ME.
Some have made an analogy to the Yankees, but I think that is unrealistic based upon the small size of MDF. A better analogy would either be Oakland or Tampa Bay. The MDF team is still trying to develop a winning team and in another year or so we will see if the "players" they are developing can hack it in the major leagues. Sometimes experience is over-rated and a quality manager can be successful. Only time will tell.

Mat

MDF Conference Call Highlights
Listening to the conference call, I am very reassured. Good quarter, but the CC was even more encouraging. Highlights: Big opportunity to attract former AHC (7,000) members over next 60 days with 350 (2/3 captured in current HMO #) applications in last 2.5 weeks. Current HMO membership of 5350 (up 200 from June CMS report). PSN may also have opportunity since AHC had ~3000 members in two Humana counties served by MDF for Humana.
Although closing some areas, but opening 2 new centers in Daytona market. One was a historically well-run practice where the principal was retiring. Probably some costs, but sounds like a decent investment. MDF believes they can grow and improve profitability. Other is a new office in attractive area.
Limiting HMO growth, but still adding a single county (Collier?) for 2008 (this should help contain costs somewhat)
Expanding relationship with Humana with "Care Plus HMO" in 9 counties in South Kent Fl. to increase PSN coverage (6 of the counties are new for PSN). Humana has decided not to fold this into their Humana business. MDF hopes to reverse PSN decreases in membership through this contract. MDF challenge is to develop the networks to support Humana
Good logic on closed PSN center discussed
Use of cash: Wishes to reserve for business growth
To provide stability and scale the MDF goal is to drive HMO to 10,000 members
Continuing effort to adjust risk scores and believes there is still significant opportunity to improve premium
Good discusion on the results of last year's HMO open season and fact that it was not satisfactory (increase in 2K) due to competitors offers. Hopes to apply lessons from last open season and see better results this open season.

Very positive CC and bodes well for MDF over the next year. I did not hear any reasons to sell at this point and considerable opportunities going forward.

Mat

MDF Conference Call Highlights
Listening to the conference call, I am very reassured. Good quarter, but the CC was even more encouraging. Highlights: Big opportunity to attract former AHC (7,000) members over next 60 days with 350 (2/3 captured in current HMO #) applications in last 2.5 weeks. Current HMO membership of 5350 (up 200 from June CMS report). PSN may also have opportunity since AHC had ~3000 members in two Humana counties served by MDF for Humana.
Although closing some areas, but opening 2 new centers in Daytona market. One was a historically well-run practice where the principal was retiring. Probably some costs, but sounds like a decent investment. MDF believes they can grow and improve profitability. Other is a new office in attractive area.
Limiting HMO growth, but still adding a single county (Collier?) for 2008 (this should help contain costs somewhat)
Expanding relationship with Humana with "Care Plus HMO" in 9 counties in South Kent Fl. to increase PSN coverage (6 of the counties are new for PSN). Humana has decided not to fold this into their Humana business. MDF hopes to reverse PSN decreases in membership through this contract. MDF challenge is to develop the networks to support Humana
Good logic on closed PSN center discussed
Use of cash: Wishes to reserve for business growth
To provide stability and scale the MDF goal is to drive HMO to 10,000 members
Continuing effort to adjust risk scores and believes there is still significant opportunity to improve premium
Good discusion on the results of last year's HMO open season and fact that it was not satisfactory (increase in 2K) due to competitors offers. Hopes to apply lessons from last open season and see better results this open season.

Very positive CC and bodes well for MDF over the next year. I did not hear any reasons to sell at this point and considerable opportunities going forward.

Mat

Lots of red in the portfolio today. The lone bright spot for the day is MDF at +.06. I am hoing this bodes well for the 10Q. It would be nice to see a little more green on the portfolio as well...

Mat

Kozuh,

Any idea on the ANTX run? I have been a small investor since the days of EYDY and I have not seen or heard any reason for this run. Maybe a big contract for their impairment unit that uses eye response? 3-4 years ago this looked like a good opportunity, but they have been hemoraging cash for the last couple years.

Mat

It looks like you are assuming 33% production flow vs. test flow, but you didn't take out royalties which I believe are ~25%. Also, as a well is operated it reduces over time due to depletion and at this point we have no idea how quickly this well will deplete. The variation in NGAS prices is also a variable. I would say a generous estimate would be $100k/month initially.

Mat

I finally found some of the past drilling results data (for 2005 drill program) that I thought would be useful for estimating the impacts of the last 3 wells. Using the average net production versus test rate for the wells I had data for (10 wells), the average net production was 33% of the test value. Using that value, the ASPN portion of the production, and a 25% royalty provides the following estimate.

Tested Flow Net Flow ASPN Flow Net after 25% royalty
2678 + 1764 1465 (33%) 308 (21%) 231
5047 1666 (33%) 693 (41.6%) 520

Total addition of ~750 MCFD which translates to a 67,500 MCF over the quarter.

Comparing this to last quarter (488K) means an addition of 13.8%. Obvsiously this production will probably not affect sales until next quarter and will be countered by depletion across the entire ASPN portfolio, it does represent a significant increase. Also, if the 33% estimate is conservative, these wells could increase production even further. Just some thoughts for consideration.

Mat

Aspen Exploration Successfully Tests 1,764 MCFPD Natural Gas WellWest Grimes Gas Field Colusa County, California

Jun 25, 2007 11:24:17 (ET)


DENVER, CO, Jun 25, 2007 (MARKET WIRE via COMTEX) -- Aspen Exploration Corporation (ASPN, Trade ), with offices in Bakersfield, California, and Denver, Colorado, announced today a successful flow test on a prolific gas well located in the Sacramento Valley gas province of northern California.

The WGU #15-13 well, located in the West Grimes Gas Field, Colusa County, California, was directionally drilled to a depth of 8,300 feet and encountered approximately 50 feet of potential gas pay in several intervals in the Forbes formation. One of these intervals was perforated and tested gas on a 1/4 inch choke at a stabilized flow rate of 1,764 MCFPD. The shut in tubing pressure was 4,020 psig and the shut in casing pressure was 4,030 psig. This was the fourteenth successful gas well out of fourteen attempts by Aspen in this field. Aspen plans to drill three additional wells in this field this year on its 10,000 plus acre leasehold. Aspen has a 21.0% operated working interest in this field.

Aspen recently drilled a dry hole, the Reason Farms #18-1, located in the Grimes Gas Field, Sutter County, California and is currently drilling the Nelson #1-10 well, also located in this prolific gas field.

In the Sacramento Valley, Aspen has drilled 33 successful gas wells out of 35 attempts during the last 3 1/2 years (94% success rate) and drilled 41 successful gas wells out of 47 attempts during the last 5 1/2 years, a success rate of 87%. Aspen currently operates 59 gas wells and has non-operated interests in 21 additional wells in the Sacramento Valley of northern California and has non-operated interests in approximately 33 oil wells in Montana.

Aspen Exploration Successfully Tests 1,764 MCFPD Natural Gas WellWest Grimes Gas Field Colusa County, California

Jun 25, 2007 11:24:17 (ET)


DENVER, CO, Jun 25, 2007 (MARKET WIRE via COMTEX) -- Aspen Exploration Corporation (ASPN, Trade ), with offices in Bakersfield, California, and Denver, Colorado, announced today a successful flow test on a prolific gas well located in the Sacramento Valley gas province of northern California.

The WGU #15-13 well, located in the West Grimes Gas Field, Colusa County, California, was directionally drilled to a depth of 8,300 feet and encountered approximately 50 feet of potential gas pay in several intervals in the Forbes formation. One of these intervals was perforated and tested gas on a 1/4 inch choke at a stabilized flow rate of 1,764 MCFPD. The shut in tubing pressure was 4,020 psig and the shut in casing pressure was 4,030 psig. This was the fourteenth successful gas well out of fourteen attempts by Aspen in this field. Aspen plans to drill three additional wells in this field this year on its 10,000 plus acre leasehold. Aspen has a 21.0% operated working interest in this field.

Aspen recently drilled a dry hole, the Reason Farms #18-1, located in the Grimes Gas Field, Sutter County, California and is currently drilling the Nelson #1-10 well, also located in this prolific gas field.

In the Sacramento Valley, Aspen has drilled 33 successful gas wells out of 35 attempts during the last 3 1/2 years (94% success rate) and drilled 41 successful gas wells out of 47 attempts during the last 5 1/2 years, a success rate of 87%. Aspen currently operates 59 gas wells and has non-operated interests in 21 additional wells in the Sacramento Valley of northern California and has non-operated interests in approximately 33 oil wells in Montana.

Worthy, I also don't understand it, but if the good news continues it has to be only a matter of time. I bought another 1500 shares at .57 this morning.

Mat

Sunwin Stevia International Completes Initial Shipments of OnlySweet(TM) to Major Grocery Outlets in the United States
Market Wire - June 13, 2007 7:00 AM ET


Related Quotes
Symbol Last Chg
SUWN Trade 0.58 +0.04
Quotes delayed at least 15 minutes

Sunwin Stevia International Corp., a wholly owned subsidiary of Sunwin International Neutraceuticals, Inc. (OTCBB: SUWN), announced today that its OnlySweet(TM) line of products are now available for purchase at a wide variety of national grocery chains throughout the United States as the Company has completed its initial shipments. OnlySweet(TM) is a proprietary product line blended with Stevioside (stevia), a natural sweetener, extracted from the leaves of the Stevia rebaudiana plant. OnlySweet(TM) is blended in an FDA approved facility in the United States that provides similar services to some of the most highly recognized brands in the food industry. In addition, the company received Kosher certification in June of 2007.

In 2006, it was announced that Sunwin Stevia International Corp. had developed its OnlySweet(TM) line of products using its proprietary blend of stevia, formulated through extensive research and testing for consistency and flavor. The Company launched its website www.onlysweet.com, offering OnlySweet(TM) to the public in January 2007.

Now that initial shipments have been delivered, OnlySweet(TM) is available for purchase in several national grocery chains and will soon be available in over 30 states. The company's first order came from one of the largest grocery retailers in the United States, for distribution in their stores on a national rollout. The company has received numerous additional orders from other regional chains as Sunwin Stevia International Corp. continues to aggressively market the OnlySweet(TM) line of products and the Company expects additional outlets will be carrying the product throughout the year.

Working in concert with retailers and in response to their input, the Company has recently redesigned its packaging to highlight the "All Natural" attributes of OnlySweet(TM). The Company and retailers believe the significant up-trend in the purchase of "All Natural" products will further differentiate OnlySweet(TM) from its competition and lead to increased sales.

ABOUT ONLYSWEET(TM)

OnlySweet(TM) is a proprietary blend that comes in 100 count and 200 count 1-gram packages. The company is currently working on a baking product that is scheduled to soon be available to consumers. The product is currently labeled as a dietary supplement in accordance with FDA requirements.

OnlySweet(TM) is blended in an FDA approved facility in the United States that provides similar services to some of the most highly recognized brands in the food industry. The facility ensures the highest levels of quality control protocol are performed on each and every run of our product. In addition, the stevia in OnlySweet(TM) maintains Kosher certification.

The stevia in OnlySweet(TM) comes from its parent company Sunwin International Neutraceuticals, Inc. (OTCBB: SUWN), one of the world's largest stevia manufacturers and distributors. This ensures consistency and quality in every package of our product. We believe that OnlySweet(TM) is the best tasting stevia product on the market. Over a million Americans have used stevia products, and the majority of similar products available for sale are offered at a cost that is extremely high compared to OnlySweet(TM). Our products will be priced 40% to 50% less than the majority of our competitors, therefore making it more affordable to the masses.

About Sunwin Stevia International Corp.

Sunwin Stevia International Corp., a wholly owned subsidiary of Sunwin International Neutraceuticals, Inc. (OTCBB: SUWN), engages in the distribution of Stevia under the OnlySweet(TM) line in North America. For more information about OnlySweet(TM), please visit http://www.onlysweet.com. For more information about Sunwin International Neutraceuticals, Inc., please visit http://www.sunwin.biz

CEOCast,

Just listened to Cohan on CEOCast and below are highlights from my perspective.

1. Planning an 11 well drill program for this year, but recent data for potential drill sites may cause addition of 2-3 additional wells.

2. Identified ASPN has a target aquisition they are working on. Will bid aggressively, but is not willing to overspend. Believes trend has been to overspend and ASPN is not willing to do this.

3. Discussed the 12.5% interest in Montana Poplar Fields and the belief there may be a number of drilling opportunities.

4. Mentioned that 8000 acres near the West Grimes field were recently aquired that may allow for a whole new set of drilling targets.

5. Discussed that if 2 Bakersfield oil wells do well, it may lead to additional oil revenues (yes I know this is common sense).

It was a good interview.

Mat

Bobwins,

I don't suppose you have the old Ibox information we used to have on this topic? I thought I had it saved at one time, but I am hoping I can find it on my work computer. It would be nice to look at the tables for average test flows vs. operating flows (I know they are quite a bit lower) to estimate how the latest two wells affect production. It would also be good to compare against average ASPN daily production over the last few years. I only have a fraction of the shares I once owned, but a good drilling season and a reduction in NGAS reserves through consumption in the U.S. could make it a profitable fall. It will be very intersting to see how the Montana properties work out. ASPN definately needs to grow production if the pps is going anywhere positive.

Mat

Len,

The difference in boardmarks is a conspiracy to drive you crazy :) Those of us involved are still waiting for you to find the other statistical traps that lay in wait for you to find, and when the market takes a dramatic, unexplained turn you will know we have implemented our plan for VMC dominance...

Unsigned...

Nsomniyak challenge,

I will go ahead and participate, although I am embarassed by the poor quality of my DD for this contest. I had a very hard time landing on 6 candidates and I made numerous changes. It has been quite a while since I have seen anything I would consider a "sure thing". Oh well:

TRGD: This is a high risk/high reward pick that has been discussed at great length on the board. I have nothing additional to add, but expect great things. I own TRGD

CEDA: Disappointing last quarter, but I still believe in the potential for growth and expect a better upcoming quarter. I own CEDA.

EGY: I have followed this well-run company for the last couple of years. I sold out a couple $ higher, but believe it is a bargain at this price. I don't currently own EGY.

ETLT: I like the recent increases in revenues, profit, and balance sheet. I currently own ETLT.

DXD: I believe the overall market has been too high recently and believe any little glich (economy, employment, foreign affairs, other) and we are headed for a correction. Thought I needed to have a little balance.

TELT: On Friday I wanted to replace this with PDGE, but remembered I can't have 2 wildcards. Had it in PSL5 and decided to stick with it, but looks like today that was a mistake. I currently own TELT.

Thanks,

Mat

KIK,

I will shoot low and go for 36%

Mat

MDF - DD Update

Now that the open season has closed it is clear that MDF will not reach the break-even point on the HMO this year. Furthermore, the medical expense ratio degradation raises questions on whether the HMO is viable. Comparison of ratios between 4Q06 and 1Q07 are encouraging, but MDF must show the ability to control the ratio below .9 to have the HMO profitable.

Based upon the last two quarters and the results of the open season for the HMO, it is unlikely MDF will reach the levels it was at for the beginning of this contest (3.05). Improved financial performance is expected for the next two quarters based upon past seasonal improvement, and the share price should improve, but until MDF can demonstrate the ability to manage expenses through the winter months, new highs are not likely. Below is a summary of positives and negatives to consider

Positives:
Overall revenues are showing good growth
PSN is performing well
HMO membership growth has been decent
Cash reserves are great
No debt

Negatives:
Inability to show cost control through winter
Competition
Affects of Debbie Finnel departure (??)
Risk of continued PSN Humana contract
HMO startup spending well above original estimates
PSN performance can't get much better and total membership has been declining slightly

Personally I added more at $1.85 because I think the risk of decline is slight and it is likely we will be in the low $2s after the next 10Q

Mat

Not to clutter up the VMC board, but I bought 4K shares in the last couple of days at .62/.63 and the little pop is nice. Hoping to see a decent quarter and see a little more appreciation.

Mat

Stanu - MDF, Good analysis, but I am surprised you will be happy with 2 cents for Q2, if I understood your comment below. With the increased revenues, if MDF can cut costs in the HMO further (no small task I realize) we should see a good quarter when that happens. I wouldn't be unhappy with a profitable Q2, but I think something around 5 cents is achievable if the HMO expenses are reduced and marketing costs are reduced. I agree that break-even is a year away, but if MDF can show improved performance throughout the rest of 2007, open season could be very nice.

Mat

Thanks, yes I have a little bit of SUWN but I should have bought more. I am currently trying to decide where to put a few thousand $, but have not decided yet.

Mat

Len,

The weekend before last Brinker had someone specifically ask him if we were now in a secular bull market based upon the new market highs. Brinker discussed the definitions and stated that we have had an excellent cyclical bull, but did not equivacably answer the question. I guessing he has his own measure of when something becomes "statistically significant", kind of like how a recession is typically called after the fact.

My two cents,

Mat

The Trader's Expo in Vegas sounds intriguing. I would certainly make every attempt to join the festivities and put a face to members of this amazing group.

Mat

Quicken, you all make me thankful I still use Q2000. I never went for the automatic features, so I have always entered my portfolio and transactions manually. It means I have to update before I know my exact position, but I use my Etrade account to know exactly where my investments are at any particular time (daily). My quicken file goes back to 96 as well, and the system is very quick and efficient, although admitedly not automatic. I distrust "upgrades" more and more each year because the "improvements" typically also include gliches that affect other things on my computer that were not intended. I reluctantly continue to accept Microsoft and antivirus updates, although periodically they cause unexpected changes. Oh well, change is the only constant but I do my best to manage the change rather than be managed by it.

Mat

Len,

What would team 14 be prior to this week? Since I drug the rest of the team dramatically this week, I would imagine the comparisons are not as stark if you remove this week. Regardless, in things like this, a little luck at the right times makes all the difference...

Mat

MDF - Since the 10K is in, it is time for an update.

Negatives: Despite an increase in revenues the 4th quarter was very bad from a growing expenses standpoint. If MDF can't bring expenses under control, HMO growth will only be a drain on the successful PSN. Adjustments in medicare are more likely to go down than up, squeezing margins further. The largest source of revenue continues to come from a single source (Humana) who can sever the relationship.

Positives: Revenue Growth is good
HMO should be at 5000 members by the end of the open season
The 4th quarter is historically the worst for MDF
If costs can be controlled, HMO can reach estimated breakeven by the end of calendar year
MDF is situated in a good location (although not the best) for growth in their PSN and HMO

Overall: The first quarter will probably not be great (10Q in mid-May), but if expense cutting is successful should be better than last quarter. If admin expenses and MER improve in first quarter and are maintained, the 2nd and 3rd quarters will be much improved. Since I am a long term investor, I believe this is likely. HMO breakeven won't be seen this year, but a return to pps over $3 is probable in the late fall. I will wait until the first quarter results before I will consider investing more to learn whether the 4th quarter expense problem was a blip that can be quickly reversed.

Mat

MDF - My initial thoughts are disappointment in being at the low end of the band (-0.05) and I wonder why we didn't get the current HMO membership like we usually do. If MDF is at 5,000 by 4/1, that is good but I wonder why the reporting words have changed. I know this is the toughest quarter for MDF, but they must improve the expense ratios in order to be successful long term. Now I am off to see if there are any embedded nuggets in the 10K.

Mat

First to last in one easy trading session. It is hard work to ride this performance roller coaster...LOL

If it isn't too late

Florida, Maryland, Notre Dame, Wisconsin, Kansas, Virginia Tech, Pitt, UCLA
NC, Texas, WSU, Georgetown, OSU, Virginia, Texas A&M, Memphis

Florida, Notre Dame, Kansas, Pitt, Texas, WSU, OSU, Memphis

Florida, Kansas, WSU, OSU

Florida, OSU

Florida

Thanks,

RMIWA

Wow a daily win and a weekly lead for a day. Now I am starting to know what it feels like to be KIK. If only I had the ability to repeat this performance on a regular basis...

BTW, you did get my request to double down on TELT, right? I think the computer might have had a typo and said CEDA, just kidding.

Thanks to all for the great board!

Mat

I put an order in for a couple thousand shares of TRGD this morning at $1 and was lucky enough to get it filled. The bounce from yesterday has been nice.

I also filled an existing order for ETLT yesterday during the fall, but it hasn't quite bounced back to even for me yet.

Mat

Well, I just took a look at the 10Q and it wasn't particularly pleasant. It appears clear to me that Cohen doesn't see the ability to grow through NG and that is why we are seeing ASPN branch out into oil again and the gold exploration. The 10Q provides a description of the Montana oil agreement, but indicates ASPN doesn't expect any significant cash flow for the first two years. $600K of the funding was through an 8.1% loan from WF.
The 10Q also states that the gold deal with Hemis will be pursuing permits in January 07.
In the outlook and trends section, they state success will depend on price and success of well drilling. Much less optimistic language than was choosen in past quarters.
One well is in progress for the current quarter.
The results of operations section indicates for the 6 months ending Dec 06, total NG sold decreased by 10%
Looking at the table for average NG price and production, it looks like 2007 is tracking to match 2005 which was only about 75% of the sales of 2006

Personally I didn't see anything that would get an investor excited, especially considering the NG storage outlook. Significant increases in sales and profitability will hinge upon a big discovery of oil or NG wells producing at a higher rate than traditional results. I have been lightening the load on ASPN for awhile and I think that trend will continue. I still believe Cohen does a generally good job as a conservative CEO and ASPN is certainly still a profitable company, but the growth is no longer visible. Best of luck to all.

Mat

MDF
What are the thoughts related to why MDF would provide preliminary results when they knew they didn't meet analyst estimates? I am glad they did, because I prefer to know sooner rather than later and I think the HMO progress is more significant long term than the bad quarter, but I wonder why report early.
I had a limit order in anticipating a dip in the price when the quarter was announced and I was lucky because it filled below my limit price and I got my shares at $2.57. I may be underwater right now, but I am happy with the investment at this price.

Mat

MDF: I really like the 4600 HMO member number and I think the fact that there was a bad quarter for profitability is not surprising since the fourth quarter is not one of their best quarters anyway. I would expect this will create a buying opportunity, but for the long term it is good news. If MDF can achieve results in improving ratios and profit margins we investors should be rewarded by the end of the year.

Mat