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Hawks. It's all about Mark. It's not about you. You just fund the business.
Get your wallet out. You are going to be afforded the opportunity to take advantage of one of those "continuous dips" on Monday morning likely approaching the two buck mark.
Yes, fancy that. It would seem that someone's' got the advance word on the news that the authorized share count was going to quadruple.
Amanda Cola's compensation package also got doubled to $171,394 a year. Her job title (not responsibilities) but "job title" got changed to VP of Finance and Business Operations. This despite the fact that Murray Williams works part time (25 hours a month) and fulfills the functions of Chief Financial Officer, Treasurer, Principle Accounting Officer, and principle financial officer. Williams is paid $200 an hour, receives a grant of 15,500 shares of restricted stock and an option to purchase an additional 31,500 shares of stock. This in a tiny company with about a dozen total employees. If Murray Williams really performs the functions he is charged with what in the world does Amanda Cola do to justify a doubling of an already exorbitant salary other than be Mark's wife. This truly stinks. I'm sure all the dot connectors will find ample justification for this fiasco. I'm looking forward to how they manage to spin it.
"you should be ecstatic to purchase shares at a much lower price, increasing your profits on your investment". Those who have "ecstatically purchased shares at a lower price" over the past five years have only managed to compound their existing losses. Please ring a bell when it finally hits bottom and I'll be glad to buy a few of my shares back.
Dadgum it Kanya you finally caught me. Mark and I have been in cahoots for months now doing everything possible to destroy the share price. We get together every evening over a dish of green chile enchllladas to plan our next sinister moves. Mark's really not my brother, but who could ask for a finer one?
Hard to even know where to start. Your faith clearly exceeds your logic. Good luck to you.
Your belief in Mark is commendable, but I'm not sure entirely warranted. In my opinion he operates the company with the same sort of fuzzy, unfocused, attention that he responds to some of the more challenging questions put to him. A case in point is his announced intention to allocate the vast majority of the proceeds from the recent share offering to printer purchases. Going beyond that, he announced a loan to Morf3D for additional printer resources. Is the company now focusing on relatively low-margin contract printing or are they a high-margin integrated software/hardware company focused on sales and follow-up services to end-users? To my knowledge Mark has yet to disclose whether he actually followed through on his stated intentions of how he would expend the offering proceeds. But assuming he does buy the printers, what happens if his "anticipated,projected", etc. revenue forecasts don't come to fruition this year? Another reverse split announcement would put the company out of business. And, what of the million dollar note? Has this been repaid, or has a portion of it simply been loaned out at 3% less interest than the company is currently paying? Finally, regarding their consideration of merging with Morf3D: The two companies combined will have a total of fewer than two dozen employees, both housed in business incubators a thousand miles apart and neither of them profitable. No matter the technical talent in the combined enterprise, unless there is a much stronger business focus than their has been demonstrated until now, I don't see much hope for their success.
When you ask whether "I believe something will come together for Sigma this year" my hope is that they will generate sufficient revenue that another reverse split is not required. As to the 50/51% question the answer is not that simple. If I had to assign odds my bet is that there is an 80% chance that they will stay in business as a minor player in the industry or merge with another entity, less than a 1% chance that they will achieve a level of success to demand a $100-$200 stock price as some here dream about, and a 20% chance that they will go out of business.
The June 7 Board meeting is rapidly approaching and I would strongly encourage those of you with a sizable investment here to make an effort to attend. Hopefully with the NASDAQ listing attendance this year will vary from years past. The two years that I attended there were approximately 20 people in attendance, all but myself and one or two others, obviously friends from the Lab, neighbors , etc., of Mark. None of whom asked a single question. When I asked a question Mark invariably prefaced his answer with "that's a great question" then proceeded to provide a lengthy convoluted response that only tangentially addressed the question. You owe it to yourself to see the business incubator site that SGLB dozen or so employees share with 23 other small start-up companies, and to ask your own hard questions of Mark and judge the responses. If you come plan on spending a few extra days to visit some of the native American cliff dwelling sites in the area as well as enjoying a meal or two in the many great restaurants Santa Fe has to offer.
Not likely in my opinion, but it is very dependent upon them being able to generate enough revenue to carry the business. They have made a number of revenue projections recently and if those actually come to pass they should be fine.
Zero sum perhaps. But just how much longer to you give Mark to actually produce on the promises, projections, and predictions he has made over the past five years which have yet to produce meaningful revenue. Is this a process without end? Does the faith remain intact indefinitely, or is there a point where reasonable people say this simply is not going to fly?
Lot's of talk and promises/projections but still no significant revenue. Until that happens we will continue to see deterioration in the share price Wicke was exactly right.
Silver: as a proud "rag-tag wannabe" investor from the OTC world I have to take strong exception to your post. The idea that NASDAQ investors somehow have a superior gift for sniffing out the true value of an investment over those who invest in the OTC counter market is without any foundation what-so-ever. You and others had proclaimed that all SGLB needed was to be listed on a major exchange and a truly insightful group of investors would clamor to invest. Well.......here we are on the "sophisticated NASDAQ" and look what we have. The volume is virtually the same as it was on the OTC exchange and the share price is declining downward. Your sophisticated NASDAQ investors have looked at the earnings history, the less than convincing claims for "anticipated / projected / and expected earnings, and the "dot connection assertions" and decided to wait for real earnings to show up before putting their money on the line. That's no different than the manner that OTC investors have viewed the stock in recent months. And, by the way, the moment Mark signs a real $30 million dollar contract, I'll be a buyer (and be happily proven wrong about my outlook). And....no I won't be selling for a nickel or a dime in profit.Hopefully that decision will gain me entry into the sophisticated investing world of the NASDAQ.
Driftin:
Perhaps it's just Mark's pompous style that gets under my skin. It causes me to question everything that comes out of his mouth. If he is not planning to secure some significant orders for Printrite (not the expected, anticipated, projected type) before 18 months are up the share price is going to really suffer. Lot's of folks here are convinced this will be the industry standard. I've yet to see anything but a lot of dots that may or may not come to pass.
Mark Cola puffery at it's very finest (gotta be some old timey medicineman blood in his DNA). He slipped up however when he provided a copy of the 10K to the reporter and the sobering truth was revealed. Kind of put on a damper on the rainbow he painted.
It gives me a headache to read over Mark's responses. He is a master at obfuscation. If he runs the business the way he talks in circles without ever giving a direct answer it is little wonder they are in the trouble that they are. It would seem that all those "sophisticated NASDAQ investors" would agree.
Jackie. If this in fact is what is happening you have no idea what "market demand" is until the end-user actually pony's up his cash to buy the product. .....and that's the reason for all the "expected"/"anticipated" nonsense.
"It is going to be most interesting and instructive to hear tomorrow if MC is going to give any kind of substantive guidance as to 1) when the revenues from this and other contracts ( i.e. Morf, unnamed European OEM, Woodard, etc) are going to begin to show up 2) what the rate of growth of revenues is expected and in a related but different topic 3) what the overall reaction was within the AmericaMakes group to the report."
Driftin I think it is well worth while pushing Mark on this point. Specifically how the contracts are structured. My sense is that the arrangement is that SGLB makes the software available for the OEM's to install on their equipment as an option for the purchaser. In effect the OEM is acting as a reseller and as such takes no real financial risk in offering the software. If the end user adds the SGLB option the OEM receives a portion (often a hefty portion) of the margin. If sales of the SGLB option is minimal there is no real financial impact on the OEM. On the positive side the OEM would not agree to offer PrintRite if they didn't think it would be an added incentive to sell their hardware. This is the reason Mark keeps talking about "expected"/"anticipated" revenue. Nothing has really been sold until the end users make a decision. I could be completely wrong, but he should be pressed on this point because I strongly suspect this is what is happening.
If you are expecting much of a revenue bump in Q-1 you are going to be sorely disappointed. What meager and questionable claims to revenue they "expect" will not have had time to generate a great deal by the end of Q-1.
The last we heard they planned to purchase 3 million dollars worth of printers and another $500,000 in miscellaneous equipment. They also have the small matter of a million dollar and $50,000 debt to be paid off. Obviously they don't have the funds to do all of this and have any working capital left. Let's hope Mark cuts way back on the hardware purchases and keeps a tidy sum in reserve for working capital. Given his past financial decisions, I'm not optimistic.
"Alliance with Jaguar Machining is a near-term revenue stream possibility" Maybe, maybe not. Putting this announcement in perspective. Jaguar is a tiny company with minimal annual revenues. 1.7 million last year. That's revenue and not profit. They are private and have 17 employees.
Hey Jeff....If nor GE, maybe the local coffee company could use their stuff. Take a break!!
From Today's Albuquerque Business Journal:
This Santa Fe company is brewing up a 3-D printed coffee maker
Mar 13, 2017, 2:40pm MDT
Coffee culture can be complex and ever-evolving. One Santa Fe-based company has created a product to bring convenience to coffee connoisseurs.
PERK is a small, 3D-printed coffee maker that brews pour over coffee, also known as the result of "third wave" coffee brewing.
Jakub Svec, creator of PERK, is preparing to launch a Kickstarter campaign to raise funds and open pre-orders for his new coffee maker.
Enlarge
Jakub Svec, creator of PERK, is preparing to launch a Kickstarter campaign to raise funds… more
PERK is less than two feet tall, making it much smaller than the pour over coffee machines usually found at cafes. The product was made to deliver a simplified version of a meticulous brewing method to coffee shops and homes nationwide, as explained by creator Jakub Svec.
"The PERK is the first machine to accurately replicate that method that can be purchased by the average coffee lover," Svec said. "I want to make third wave coffee the new normal for everybody."
This coffee maker, however, is different from a Keurig, he explained.
"PERK is the first coffee machine that can perfectly control all the variables of brewing coffee. This used to not be a problem five to 10 years ago, but coffee has been going through a small revolution and coffee machines have not kept up," he said. "The only machines that are good enough for modern coffee ... cost over $10,000. An example of one of these machines can be found in the Starbucks on Central in Nob Hill."
He added that other machines brew too cold, thus not drawing out the coffee bean's best qualities.
The Santa Fe-grown coffee maker has not been mass produced or taken to market yet. The PERK team will launch a crowdfunding Kickstarter campaign Wednesday, looking to raise $100,000. The machine is planned to be available to the public by next February. Donors can pre-order a PERK for between $149 to $199 dollars. They'll retail at $299.
The product has no investors or partners, but it won $10,000 through Santa Fe's bizMIX startup competition in August. PERK and sustainable product company Nature Camp Goods + Apparel each took home $10,000 as a grand prize.
Svec has toured the state and West Coast, giving shops a preview of the machine. He said the product is already seeing demand.
"There are several premium retailers that are lined up and ready to put in orders, but at this stage there is nothing for them to order and therefore cannot announce anything yet," he said. "Additionally, I have had investment offers made for PERK, but since I am capable of self-funding this project, I have not taken any investment."
"Rush to Nasdaq was for the Conclusion to America Makes Project" Actually not. The rush to issue more shares was because they were absolutely flat out of money. The timing had nothing to do with America Makes.
Driftin:
I can't vouch for it's accuracy but my Ameritrade account shows Q-4 earnings release on Thursday, March 16.
Ted: You may be correct. In the long run the new investors may have gotten a good deal. As I think we can both agree however that will only come to pass when substantial firm orders appear. Many believe those are just around the corner. I'm still in the "show me" mode.
In the meantime the new investors have lost about 1.2 million dollars of their initial investment, so it is unclear whether they would have been better off buying their shares prior to the uplist. The other concern for existing shareholders that no one is discussing is what might happen when the share price does increase to approximate the offering price. I know what I would do (which may not count for much) . I would sell my shares to recover my investment and hold the warrants. At this point the warrants are literally free and will have a slightly better appreciation potential than the underlying shares. This is a pretty common practice with big ticket investors that take advantage of initial share offerings. It's a way for the initial investors to have their cake and eat it too. Of course if SGLB ends up being a cornerstone of GE's efforts this likely won't happen, but if we limp along on smaller sales announcements I think you are going to see pressure put on the share price when it reaches the low $4.00 mark.
Rationalization is good for the soul....not so much for the wallet.
I, for one, don't understand what was different today. Does anyone have an explanation for the rapid rise all of a sudden?
Thank you Dad. Very much appreciated. The Board is in good hands.
Chris works for Darrow Associates.
Klaus: That has been going on for days now. Simply a desperate attempt to keep the share price propped up.
Gat Rich: The share price is struggling to get back to the initial offering price. Seems a bit early to be predicting $100 and $200 prices.
Driftin: You say: "Then again, others might say all of the above is nothing more than speculative efforts to make a dollar out of 98 cents." Maybe 97 cents. There are 400 members in this committee and six sub committees. To my knowledge we don't even know which sub committee she belongs to...it may have nothing to do with SGLB at all. Have you ever been part of a committee charged with making a decision? In my experience that has been a difficult task with just four or five individuals involved. Hard to imagine 400 individuals agreeing on anything. The dots may very well be there but until more information is known I think the evidence is scant.
Once again these are "expectations" by Mark, not a fixed contract. I know what I think that is worth. You can assign your own value to it.
Driftin: They are masters at telling part of the story (the part that gives just enough information to get shareholders excited) but won't divulge the details because the story is not nearly as exciting when all the facts are known. Rinse and repeat seems to be their mode of operation.
Don't get too excited Jackie. I own less than 100 shares and won't buy more until I see orders with firm dollar numbers and timeframes that will result in a bottom line profit. I more than quadrupled my investment in SGLB a few years back when I exited at .165. I'm in no hurry to enter again until I'm convinced they are really going to make a go of it. I'm not there yet.
Yeah, I guess $220,000 a year isn't incentive enough to stay around. I'm extremely disappointed that our newly appointed board would approve such expansive options without at least a modest amount of money flowing to the bottom line. Your way off-base Jackie.
From this afternoons Albuquerque Business Journal:
Small Santa Fe company makes big jump to NASDAQ
Feb 23, 2017, 2:46pm MST
INDUSTRIES & TAGS Technology, Banking & Financial Services
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Sigma Labs, a Santa Fe-based 3-D printing technology firm and one of New Mexico's few public companies, has uplisted from the OTCQB to the NASDAQ, the company announced Tuesday. This makes the 17-employee company the third in New Mexico to live on this exchange.
The move went into effect Feb. 15, according to Sigma. The small business initially raised $6 million in gross proceeds from the offering. Its ticker symbols are now SGLB and SGLBW.
Sigma Labs, a Santa Fe-based 3-D printing technology firm and one of New Mexico's few public companies, has uplisted from the OTCQB to the NASDAQ.
Sigma also entered a commercial deal with additive manufacturing company Morf3D, based in El Segundo, California, on Wednesday. Morf3D will use Sigma's PrintRite3D quality assurance software in creating their own products more efficiently, according to a separate press release from Sigma.
The small business, led by CEO Mark Cola, has had much success in recent months. In mid-January, Sigma reportedly struck a $6 million deal with an undisclosed European OEM. In November, the company partnered with global 3-D tech giant Siemens Industrial Turbomachinery AB of Sweden.
Cola was unavailable for comment.
Driftin: That's exactly the point. Options are normally earned based upon results and not awarded as a lottery ticket on possible future earnings. What bothers me most about this is the apparent lack of involvement by a Board that should be looking out for shareholder interests as a top priority. Of course executives should be rewarded appropriately and motivated to achieve targeted results, but in this case I get the very uneasy feeling that nobody is "watching the store" once again and that Mark will be given a totally free hand. It doesn't matter what the qualifications of our new board members are, if they are going to stay asleep in the closet while Mark runs the show.
Amanda joined the party a few days ago:
http://www.streetinsider.com/SEC+Filings/Form+3+SIGMA+LABS,+INC.+For%3A+Feb+14+Filed+by%3A+Cola+Amanda/12557844.html
Hey.....This is Mark's private enterprise. He seems to have a talent for picking a Board that snoozes and couldn't give a hoot about shareholders. Even the "devoted" should be outraged about this move.