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BMRA - Definitely risky. That's why I covered the short yesterday in AH, and re-shorted this morning. This one has a pretty good history of jumping on PRs and then falling on its face. Last annual profit was 2013. It surely has the ability to spike up, though, like it did yesterday.
BMRA $1.31 -.34, Nice move to get out on the pop yesterday. I wouldn't be surprised to see it get back down to around a buck.
MIND - The earnings cc was interesting. One of their institutional investors was really letting them have it. This is one of the things he told management on the call:
MIND - Another nice order announced:
MIND Technology Receives Source Controller Order
PR Newswire - Dec 19 07:00 EDT
THE WOODLANDS, Texas, Dec. 19, 2023 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND) announced today that its Seamap unit has received an order for multiple GunLink source controllers totaling approximately $10.2 million. This order is pursuant to the previously disclosed framework supply agreement with a major international seismic contractor.
Mark Welker, Vice President of MIND and Seamap Managing Director, stated, "This is, the largest single order in Seamap's history and is another indication of the broad acceptance of our technology. When combined with our existing backlog, Semap now has a committed book of business totaling almost $48 million as we move into the fourth quarter of this fiscal year and into next fiscal year. We believe this will allow us to be more efficient in our procurement and production operations."
About MIND Technology
MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit, designs, manufactures, and sells specialized, high performance, marine exploration and survey equipment.
BMRA - Wild ride with this one today. It slid down to $1.26 in the morning and then rocketed up to $2.13 in the afternoon, and closed at $1.65. I came within about 10 cents of getting stopped out. I covered my short in AH, but I will be looking to re-short tomorrow.
BMRA - $1.51 +.52, shorted some this morning. Their test doesn't seem to be novel. It already seems to be widely available.
KEQU - Nice to see insider buying at these price levels.
https://www.sec.gov/Archives/edgar/data/55529/000152220923000004/xslF345X05/wk-form4_1702648500.xml
UUU - Scooping up a bunch of this today. Smells like someone got caught with a hooker in a hotel room and needs some bail money.
CTHR - A good deal of insider buying the last month or so. Maybe things aren't quite as bad as they seem.
MINDP - This is interesting from the 10-K:
UUU - That short turned out well for you. I was too chicken to short it.
The company has tangible book value of about $2.29 a share. Last quarter's loss had some stuff that sounded one-timerish, and there's this from the latest 10-Q that could at some point be a catalyst for a low-float spike:
MINDP $6.85 - $5.50, the preferred holders got their heads handed to them on this from the earnings PR:
FEIM - Definitely. What I was alluding to was the bolded portion of the quote:
FEIM - I'm with you on this one. Things seem to be lining up very nicely for future quarters. Those contract announcements of $25M, $19M, and $9M were all within a two-week period! Those $53M in orders are more than last year's total revenue of $40M. It was trading in the 7s a month ago, so like you said, that might limit the upward price action.
And it sounds like there might be more orders to come. This from the CEO from last quarter's earnings PR:
DRCT - Seems like the company should be putting out a rebuttal, and maybe it bounces at that point. I don't own a share presently.
DRCT $8.32 -$2.58, anyone getting back in this thing?
CSPI - Kinda comical that they highlighted the dollar amount of their backlog in their first and second quarter earnings reports, but decided to omit the dollar amount in their third quarter report! You gotta wonder if the only reason they mentioned it in this report is because they knew they would be fielding the question on the conference call.
DRCT - This is pretty much all they have to say about it in the 10-K:
Accounts receivable
Accounts receivable primarily consists of billed amounts for products and services rendered to customers under normal trade terms. The Company performs credit evaluations of its customers’ financial condition and generally does not require collateral. Accounts receivables are stated at net realizable value. The Company began insuring its accounts receivable with unrelated third-party insurance companies in an effort to mitigate any future write-offs and establishes an allowance for doubtful accounts as deemed necessary for accounts not covered by this insurance. As of December 31, 2022 and 2021, the Company’s allowance for doubtful accounts was $4,323 and $40,856, respectively. Management periodically reviews outstanding accounts receivable for reasonableness. If warranted, the Company processes a claim with the third-party insurance company to recover uncollected balances, rather than writing the balances off to bad debt expense. The guaranteed recovery for the claim is approximately 90% of the original balance, and if the full amount is collected by the insurance company, the remaining 10% is remitted to the Company. If the insurance company is unable to collect the full amount, the Company records the remaining 10% to bad debt expense. Bad debt expense was $16,664 and $91,048 for the years ended December 31, 2022 and 2021, respectively.
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.