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Guarantee you suppliers are knocking attheir doors
CNBC about to cover MJ demand in Colorado
Dif yhe New Hampshire HofR pads the vote yesterday?
Think it was probably a combination of the NH vote and media releasing news regarding NY Governor sidestepping NY state legislature to provide medical marijuana program in the state?
It's basically a period when there's an even relationship between sellers and buyers (typically new buyers). The stock tends to trade sideways since buyers will buy no more than the ask and sellers will sell no lower than the bid. You'll see the words "price reset" associated with consolidation. After a run up on the pps, the stock will "take a breather" via consolidation before another leg up. Volume is typically high during a period of consolidation. A lot of shares exchanging hands.
Was that vote today?
From MSNBC article published today:
More than 80% of New Yorkers support the legalization of medical marijuana, according to a poll conducted by Siena College.
New Yorkers’ attitudes toward drug laws reflect those across the country. According to a poll conducted by Gallup in October, 58% of Americans believe marijuana should be legalized, a 10-point increase from the previous year. In contrast, only 31% of Americans were in favor of legalization in 2000.
MSNBC released an article today. Governor of NY is sidestepping the state legislature to bring a medical marijuana program to 20 NY hospitals. Just another state on the movement towards embracing the sell of MJ.
And Tesla at $18.5 billion with only $385 million in revenues (FY2012)...
Nope! But is Twitter really worth $33 billion? Their revenues for FY2012 were $317 million.
This is the OTC... you can throw your finance 101 valuations out the window.
New York Gov. Andrew Cuomo unveiled plans to legalize medical marijuana by executive order on Wednesday, sidestepping the state legislature in bringing weed to the Empire State.
Article on MSNBC.COM (as much as I hate them).
http://www.msnbc.com/msnbc/pot-prescription-the-empire-state
We'll probably see more than avg volume, higher volatility and steady decline in the pps over the next month or so. Should present a good buying opportunity before Q3 is released next month. Last two quarterly releases have been followed with a pop in the pps.
Yep. Being met with some decent buying though. Management or whoever could be stepping in to buy up some more.
E-Trade was giving me problems also. Ok now.
All the MJ stocks are inadvertently getting pumped by all the mainstream media outlets. CNBC, FOX, CNN, MSNBC, ect, are talking all things marijuana. And the news hasn't been negative. I'm loving it. Keep this going.
CNBC Article: Colorado's brand-new pot economy already has growing pains
http://www.cnbc.com/id/101306018
Not sure where I see the 300k disposal in this link?
http://www.sec.gov/cgi-bin/own-disp?action=getowner&CIK=0001385215
Post the link. I just checked the SEC website and do not see a filing for 12/28/12.
No news released by MJNA. However, this morning on Good Morning America they did a piece on marijuana sells in Colorado beginning on Jan. 4th. So yesterday and today I think we're seeing an influx of investors anticipating 2014 will be a big year for MJNA & others.
NOOOOO....
20,000 on the bid
One fundamental reason is the PEx. They're trailing 12 months EPS is negative because in Q4-2012 they disposed an unprofitable segment of their business that ate up the prior 9 months EPS. However, trailing 9 months 2013 EPS is .15, making the current PEx 14.6. Industry average is PEx is 25x for larger subseas listed on higher tier exchanges.
DPDW is a growing small cap company. Unfortunately, they're on the OTCBB that attracts smaller pocket investors in addition to having a small illiquid float.
I'm still buying the company under 3 dollars. Ill the research I've done indicates the subsea industry to grow at 20 percent on average for the next 4-5 yrs
And you're only posting literature that fits your thoughts.
However, at the end of the day, DPDW owns their assets. The bank does not buy the assets and therefore, they do not own them. They have a lien against them. I guarantee you that if you were to look at Whitney's balance sheet, it does not show any type of subsea equipment or machines. It's because they do not own the assets.
If he'd open up a finance/accounting 101 book I wouldn't have to teach it to him. smh
There's more....
Page 5 of the 10-Q:
NOTE 4: LONG-TERM DEBT
Long-term debt consisted of the following:
Secured credit agreement - Whitney
September 30, 2013 $1,943
Equipment Term Loan are secured by a security
Whitney Credit Agreement
for Whitney to make a new single-advance term loan to Deep Down in the original principal amount of $250 (“Equipment Term Loan”) for the purpose of effecting a purchase of two tensioners (the “Equipment”). The Equipment Term Loan has an interest rate of 4.0 percent per annum and maturity date of April 15, 2018, and the Company is obligated to make increasing monthly repayments of principal (along with accrued and unpaid interest thereon) starting at $4, beginning April 1, 2013;
Post #105609
frankermel Thursday, 12/19/13 09:40:33 AM
Re: UHCougar post# 105606
Post # of 105619
Whitney owns all of DPDW assets.
They can sell their fixed assets (i.e. obsolete fixed assets, unused equipment & machines, ect.) Don't speak to assets in general considering inventory is an asset.
I handle over $85 million in fixed assets for my company, pretty sure I know what I'm talking about here. The bank has a lien against the assets. They have first claim against them in the event of bankruptcy.
The PO for fixed assets is a contract between the supplier and the company. Not the supplier and the bank.
In addition to that, DPDW has $38.5 mill in total assets of which $12.4 is FAs. The bank can only claim damages up to the $$ of the notional loan amount. The term loan is $5 mill and as of 9/30/13 the company has only dawn down $2.07 mill.
They do not "own" DPDW assets. The company owns the assets. The loan is collateralized/secured against their assets in the event bankruptcy/ liquidation occurs.
The company has strong financials. Obviously the bank doesn't think they hold a lot of commercial/credit risk.
Also consider that Whitney Bank isn't just handing an OTCBB company a $5 million loan without doing substantial underwriting. If their creditors found the company to be at high risk grade during their underwriting, why increase their limit to borrow from $1.15 mill to $2 mill, then by another $3 mill to $5 mill earlier this year?
Didn't this company just do a $6 mill equity offering earlier this year? And now they just approved a $5 mill buy-back??
Yep. Houston Business Journal just recently released an article on the same subject. I posted it to the board on 12/2 if you want to see it.
Should be coming soon
HBJ Article: What to expect in Gulf of Mexico drilling in 2014
http://www.bizjournals.com/houston/blog/2013/12/what-to-expect-in-the-gulf-of-mexico.html
Yep. Also equals an additional $8 mill in funding to finance growth and expansion of the company. Would you rather them take on $13 mill of debt ($8 mill + $5 mill C/L with WhitneyBank) to finance growth? EPS, revenue, bookings are all higher than a year ago.
Acquire ElectroWave USA, Inc., Mako Technologies, Inc., and Flotation Technologies, Inc.
If you read my post you would see that I wrote 15.3 mill O/S?
I don't think they'll be able to grow into a mid-large cap as quick as we would like just on organic growth. This company has done acquisitions in the past and I would expect to see some in the future. Wish I had a crystal ball to tell you when.
Yea... and the stock is up 72% in the past year.
Lower PPS relative to a month ago. Is that your investment horizon, one month? Just sell off whatever you have if you're unsatisfied with management then. Take into consideration the O/S, float and liquidity in the capital structure when talking about the PPS. The O/S is only 15.3 mill and actual float is around 12.2 mill. That's considerably low for any company regardless of the industry. You're naturally going to see large price swings with a combination of low float and low liquidity.
Fundamentals and growth are what I'm more concerned about (EPS growth, revenue, backlog, working capital, EBITDA, ect.)
You forgetting the other $10.2 million that was announced this year? With this contract, the total that has been announced in FY2013 is approximately $14 million. Along with an up-listing earlier in the year.
Wow! Some people on this board just aren't satisfied with anything.