is Plottin' as usual...
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Nov 1, 2011 Probe Manufacturing, Inc. Adopts Stock Repurchase Plan
IRVINE, Calif., Nov 01, 2011 (BUSINESS WIRE) -- Probe Manufacturing, Inc., (OTC QB: PMFI) http://www.probeglobal.com/, a global electronics design and manufacturing services company, announced today that it has adopted a plan for the purpose of repurchasing up to 5,000,000 of its issued and outstanding common stock in accordance with the guidelines specified in Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, (the "Plan").
The Company's Plan will become effective immediately and will allow the Company to purchase its issued and outstanding common shares in the open market or in negotiated transactions, from time to time, depending on market conditions and other factors as well as subject to relevant rules under Untied States securities regulations. It does not obligate the company to make any purchases, including at any specific time or in any particular situation. The program may be suspended or discontinued at any time. The share repurchase program will be funded by the company's available cash, after assessing for the working capital requirements of the company. Accordingly, there is no guarantee as to the exact number of shares that will be repurchased under the Plan.
The Company's Board has authorized the repurchase plan because it believes the recent market turmoil may cause the Company's common stock to be undervalued from time to time. The timing and amount of any share repurchases will depend on the terms and conditions of the repurchase plan and no assurance can be given that any particular amount of common stock will be repurchased.
Kam Mahdi, the Company's Chief Executive Officer said, "This decision to establish the Plan reflects the confidence we have in the fundamentals of our business and is consistent with our long term strategy of seeking to create shareholder value."
About Probe Manufacturing, Inc.
Probe Manufacturing is a global electronics design & manufacturing Services Company providing innovators with business services through our factory in California as well as factories Worldwide. Headquartered in Irvine, California, Probe has been serving industrial, instrumentation, medical, aerospace, defense, and automotive industries since 1994. Probe's common stock is traded on the OTC QB under the symbol PMFI. Further information is available on Probe's website: www.probeglobal.com.
This release contains certain forward-looking statements (under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) with respect to whether Probe's business strategy, whether Probe's stock repurchase plan will create long-term shareholder value, and whether Probe's stock repurchase plan will increase the value of its common stock on the market in which it is traded. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: uncertainties relating to changes in general economic and market conditions; uncertainties regarding changes in the EMS industry; the uncertainties relating to the implementation of our global business strategy; and other risk factors as outlined in the company's periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: Probe Manufacturing, Inc.
CONTACT:
Probe Manufacturing, Inc. Kam Mahdi, Chairman and CEO 949-273-4990 X814 kmahdi@probeglobal.com or John Bennett, CFO 949-273-4990 X807 jbennett@probeglobal.com
Nov 1, 2011 Probe Manufacturing, Inc. Adopts Stock Repurchase Plan
IRVINE, Calif., Nov 01, 2011 (BUSINESS WIRE) -- Probe Manufacturing, Inc., (OTC QB: PMFI) http://www.probeglobal.com/, a global electronics design and manufacturing services company, announced today that it has adopted a plan for the purpose of repurchasing up to 5,000,000 of its issued and outstanding common stock in accordance with the guidelines specified in Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, (the "Plan").
The Company's Plan will become effective immediately and will allow the Company to purchase its issued and outstanding common shares in the open market or in negotiated transactions, from time to time, depending on market conditions and other factors as well as subject to relevant rules under Untied States securities regulations. It does not obligate the company to make any purchases, including at any specific time or in any particular situation. The program may be suspended or discontinued at any time. The share repurchase program will be funded by the company's available cash, after assessing for the working capital requirements of the company. Accordingly, there is no guarantee as to the exact number of shares that will be repurchased under the Plan.
The Company's Board has authorized the repurchase plan because it believes the recent market turmoil may cause the Company's common stock to be undervalued from time to time. The timing and amount of any share repurchases will depend on the terms and conditions of the repurchase plan and no assurance can be given that any particular amount of common stock will be repurchased.
Kam Mahdi, the Company's Chief Executive Officer said, "This decision to establish the Plan reflects the confidence we have in the fundamentals of our business and is consistent with our long term strategy of seeking to create shareholder value."
About Probe Manufacturing, Inc.
Probe Manufacturing is a global electronics design & manufacturing Services Company providing innovators with business services through our factory in California as well as factories Worldwide. Headquartered in Irvine, California, Probe has been serving industrial, instrumentation, medical, aerospace, defense, and automotive industries since 1994. Probe's common stock is traded on the OTC QB under the symbol PMFI. Further information is available on Probe's website: www.probeglobal.com.
This release contains certain forward-looking statements (under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) with respect to whether Probe's business strategy, whether Probe's stock repurchase plan will create long-term shareholder value, and whether Probe's stock repurchase plan will increase the value of its common stock on the market in which it is traded. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: uncertainties relating to changes in general economic and market conditions; uncertainties regarding changes in the EMS industry; the uncertainties relating to the implementation of our global business strategy; and other risk factors as outlined in the company's periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: Probe Manufacturing, Inc.
CONTACT:
Probe Manufacturing, Inc. Kam Mahdi, Chairman and CEO 949-273-4990 X814 kmahdi@probeglobal.com or John Bennett, CFO 949-273-4990 X807 jbennett@probeglobal.com
PMFI no history of R/S. That's amazing in OTC land.
We appreciate it lucyinthesky. It's amazing how the great stocks go unnoticed, while the crap ones get ALL the attention. We'll be winners here shortly IMO. If you ever want to be an assistant, let me know
Spread needs to tighten up on this one, and then we need some ask-slappin!
PMFI .0075's getting hit. Stock buyback news out yesterday that no one noticed..
PMFI is a SEC-compliant undervalued company that recently announced a 5 million share buyback of it's stock who currently has zero debt, an est. float of 36 million, been profitable the last seven quarters, and is focused on shareholder satisfaction. Sales for 2011 are expected to be 5 million and 9 million for 2012. The company also has a line of credit to support their current expansion plans. Did I mention the stock buyback news went largely unnoticed yesterday? Once investors see that alone, the stock price should make a drastic move forward. Not a one day play...Check out the board. Some good stuff posted on this hidden gem.
http://investorshub.advfn.com/boards/board.aspx?board_id=13351
PMFI is a SEC-compliant undervalued company that recently announced a 5 million share buyback of it's stock who currently has zero debt, an est. float of 36 million, been profitable the last seven quarters, and is focused on shareholder satisfaction. Sales for 2011 are expected to be 5 million and 9 million for 2012. The company also has a line of credit to support their current expansion plans. Did I mention the stock buyback news went largely unnoticed yesterday? Once investors see that alone, the stock price should make a drastic move forward. Not a one day play...Check out the board. Some good stuff posted on this hidden gem.
http://investorshub.advfn.com/boards/board.aspx?board_id=13351
2010 Interview with CEO Kam Mahdi on Company's future and turnaround
http://www.currentinterviewsceocfo.net/
We have a SEC-compliant undervalued company that recently announced a 5 million share buyback of it's stock who currently has zero debt, an est. float of 36 million, been profitable the last seven quarters, and is focused on shareholder satisfaction. Sales for 2011 are expected to be 5 million and 9 million for 2012. The company also has a line of credit to support their current expansion plans. Did I mention the stock buyback news went largely unnoticed yesterday? Once investors see that alone, the stock price should make a drastic move forward. Not a one day play...
Want a low float, non-diluting, profitable OTC real company with potential?
PMFI is where you should look..
Probe's CEO Letter to Shareholders
August 04, 2011
Dynamic Turnaround and Exciting Future!
Dear Shareholders:
I would like to take to this opportunity to inform you of Probe Manufacturing’s significant progress in both implementing business strategy and navigating the Company’s financial turnaround since the 3rd quarter of 2009. I am also pleased to report that we have had 6 consecutive quarters of profitability and revenue growth since the 1st quarter of 2010.
As you may know, I was appointed by our Board of Directors to once again lead Probe in the 3rd quarter of 2009. I am extremely happy to be back as part of a company in the midst of a dynamic turnaround. While I am well aware and dismayed that many of our investors have sustained substantial potential losses, I am pleased that we have been able to return Probe to profitability. I am optimistic that our strategic initiatives for growth will help restore investor confidence in the company.
Our vision is to be the preeminent manufacturing foundry for innovative start-ups and our continued business remains focused on growing our design and manufacturing services by leveraging global opportunities. We are positioned to achieve this objective by investing in innovative technological start-ups utilizing our internal resources in return for exclusive manufacturing rights and equity. We have initiated the process with two companies and are currently developing several other relationships. We will be making announcements about these exciting technologies in the near future.
We have transitioned Probe from a low to medium volume, local operation, to a full service, “Global Electronics Design and Manufacturing Services Company.” We now provide the medical, aerospace/military, industrial/instrumentation and automotive industries with product development and manufacturing business services. We have a 23,000 square-foot facility in Irvine California and strategic facilities worldwide.
We now serve industries aligned with our competencies, which are in more advantageous market sectors. These segments are less sensitive to consumer price pressure, provide more opportunities for enhanced returns, and are frequently less saturated and less susceptible to competition in low-cost regions. I believe we are well positioned to take advantage of these opportunities.
Here are just a few of the steps that we have recently taken:
·Settlement of all notes payable
·Retired debt to CIT and all capital leases
·Reduced overhead & expenditures
·Re-established our commitment to the Electronics Manufacturing Services and re-secured our existing customer base
·Moved to centrally located 23,000 sq-ft manufacturing facility in Irvine, California
·Developed strategic alliances with operations in China, expanding our global services for future sales and growth continuity
Most important, is that we have in place an experienced and proven entrepreneurial management team with track records in aiding growth objectives.
From the 3rd quarter of 2009 through the 2nd quarter of 2011 we have increased our: (i) open orders over 600%; (ii) customers from 8 to 31; (iii) quarterly revenue over 300%; and (iv) total equity from negative to positive. We have now had 6 consecutive quarters of profitability and positive cash flow.
We have secured a sufficient line of credit to support our current expansion plans. We remain confident that the growth and profitability, we have experienced since the 3rd quarter of 2009, will continue. The worldwide EMS industry has resumed growing and Technology Forecaster, Inc. projects the global market will grow at a 15 percent annual rate over the next 5 years from $370 billion to $659 billion. Moreover, with the recent cost increases in labor, currency movements, and freight concerns, the ability to provide stateside manufacturing has increased profitable opportunities.
Probe has the potential to be successful in the marketplace for the following reasons:
·Experienced management with proven track record
·Debt free equipment and low overhead
·Specialization in Aerospace/Military, Medical, Industrial/Instrumentation and Automotive industries
·Onshore and managed offshore full-service manufacturing capabilities
·Full service offerings beyond traditional Electronics Manufacturing Services (EMS), including cable harness, plastics, PCB fabrication, and sheet metal processes
·Manufacturing foundry platform offering product development services
I believe that we continue to build a company with true intrinsic value through:
·Accelerated capital value, revenue, and earnings growth
·Shareholder centric focus
·Concentrated corporate compliance efforts
·Defined market niche and strategy
·Customer driven business strategy
·Balanced financial condition
·Above average industry gross margins
·Profitable operations
I sincerely believe that we are an “undervalued opportunity” and are building a strong foundation upon which we can achieve our targeted business strategy.
We recently re-designed our website: www.probeglobal.com to be more investor relations friendly. This will allow our investors to receive regular updates, recent news, and events. We encourage all our investors to stay registered and informed of the company’s progress.
I am excited about the future and I hope that you are too! Thank you for your time and please feel free to contact me personally with any questions you may have.
Sincerely,
Kambiz Mahdi
Chief Executive Officer
http://www.probeglobal.com/CEOLetter/
I was the first buy of the day and it took almost 10 minutes for mine to fill. Doesn't appear there are many shares available down here.
Nice, you might be able to grab some in the AM.
Yes, they've been profitable the last seven quarters. Hidden gem IMO...
PMFI going to be a BIG mover soon. 5 million share buyback in the works and the company has zero debt and is profitable. IBOX being updated and DD posted at the moment.
http://investorshub.advfn.com/boards/board.aspx?board_id=13351
PMFI going to be a BIG mover soon. 5 million share buyback in the works and the company has zero debt and is profitable. IBOX being updated and DD posted at the moment.
http://investorshub.advfn.com/boards/board.aspx?board_id=13351
Check out the PMFI board. DD being posted and IBOX being updated as we speak.
Should be a huge mover soon
Those stocks were complete turds to begin with. Not sure why people decide to play a stock with 300 million shares on the ask, but it's their money. Anyways, check out PMFI bro. Some big things going on there along with a share buyback.
http://investorshub.advfn.com/boards/board.aspx?board_id=13351
If you're new to the PMFI board, please check out the sticky posts and the IBOX which is being updated.
PMFI News Releases for 2011 (MUST READ)
Nov 1, 2011
Probe Manufacturing, Inc. Adopts Stock Repurchase Plan
http://ih.advfn.com/p.php?pid=nmona&article=49756691
Sept 27, 2011
Probe Manufacturing Announces Stock Analyst Buy Recommendation Upgrade from Sterling Investment Services, Inc.
http://ih.advfn.com/p.php?pid=nmona&article=49319895
Sept 15, 2011
TECO Westinghouse Approves Probe Manufacturing to Build Cable Assemblies for the Wind Turbine Program
http://www.otcmarkets.com/stock/PMFI/news
Aug 17, 2011
Probe Manufacturing Reports 7 Consecutive Profitable Quarters and Revenue Growth For its Second Quarter 2011 Results
http://ih.advfn.com/p.php?pid=nmona&article=48863534
Aug 9, 2011
Probe Manufacturing, Inc. Announces Initiation of Stock Analyst Coverage by Sterling Investment Services Inc.
http://ih.advfn.com/p.php?pid=nmona&article=48764171
Aug 4, 2011
Probe Manufacturing’s CEO Releases Letter to Shareholders
http://ih.advfn.com/p.php?pid=nmona&article=48698121
Jun 21, 2011
Probe Manufacturing Secures $225,000 Medical Device Manufacturing Contract and Exceeds $2.6 Million in Open Orders
http://ih.advfn.com/p.php?pid=nmona&article=48146534
Jun 7, 2011
Probe Manufacturing Announces Mr. Ralph Adams Appointment as Special Advisor to Its Board of Directors
http://ih.advfn.com/p.php?pid=nmona&article=47975679
May 17, 2011
Probe Manufacturing Reports 86% Revenue Growth For its Fiscal First Quarter 2011 Results
http://ih.advfn.com/p.php?pid=nmona&article=47718312
May 5, 2011
Orange County Business Journal Identifies Probe Manufacturing as One of the Top 120 Publicly Held Companies in Orange County
http://ih.advfn.com/p.php?pid=nmona&article=47547572
Apr 11, 2011
Probe Manufacturing Reports Stellar Annual 2010 Financial Results
http://ih.advfn.com/p.php?pid=nmona&article=47248468
Mar 8, 2011
Probe Manufacturing Secures $200,000 Purchase Order and Exceeds $2,000,000 in Back Log
http://ih.advfn.com/p.php?pid=nmona&article=46782586
Mar 1, 2011
Probe Manufacturing Secures $1 Million in Capital Funding
http://ih.advfn.com/p.php?pid=nmona&article=46682276
PMFI .0075's going
PMFI .0075's going
Check out PMFI. Share buyback news today that went unnoticed and this seems to be real PROFITABLE company. The float is only 35 million. Doing my DD on this one tonight, but it looks like it could go big.
LOL, no but I probably shouldn't have replied to that post They have been profitable the last seven quarters though. 3rd quarter numbers aren't out yet.
Nice! They need to move that bid up though, or hit the damn ask!
I bet you're right, especially since I've never seen MM MBAY before.
I agree bobbydigital. By the time the market notices this one, they'll be paying through the nose!
Check out PMFI bro. They had share buyback news today, and it's pretty much UNNOTICED. To top it off, the company has ALOT of other things going for itself besides the buyback. Don't miss out...
PMFI share buyback news virtually unnoticed today. I'm going to compile all the DD I find, but the buyback might not even be the best thing about this stock. Pounding the table here.
http://www.otcmarkets.com/stock/PMFI/news
PMFI is going to be HUGE mover IMO bro. Anything under .01 is a gift.
Pounding the table on PMFI. DD compilation post coming tonight! Share buyback news out today!
Pounding the table on PMFI. DD compilation post coming tonight! Share buyback news out today!
Yes, and it always happens that way. That's why I never set my sell targets too high because I know, I'll be able to sell and get back in lower once the whackers take hold.
Probe Manufacturing, Inc. Adopts Stock Repurchase Plan
IRVINE, Calif., Nov 01, 2011 (BUSINESS WIRE) -- Probe Manufacturing, Inc., (OTC QB: PMFI) http://www.probeglobal.com/, a global electronics design and manufacturing services company, announced today that it has adopted a plan for the purpose of repurchasing up to 5,000,000 of its issued and outstanding common stock in accordance with the guidelines specified in Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, (the "Plan").
The Company's Plan will become effective immediately and will allow the Company to purchase its issued and outstanding common shares in the open market or in negotiated transactions, from time to time, depending on market conditions and other factors as well as subject to relevant rules under Untied States securities regulations. It does not obligate the company to make any purchases, including at any specific time or in any particular situation. The program may be suspended or discontinued at any time. The share repurchase program will be funded by the company's available cash, after assessing for the working capital requirements of the company. Accordingly, there is no guarantee as to the exact number of shares that will be repurchased under the Plan.
The Company's Board has authorized the repurchase plan because it believes the recent market turmoil may cause the Company's common stock to be undervalued from time to time. The timing and amount of any share repurchases will depend on the terms and conditions of the repurchase plan and no assurance can be given that any particular amount of common stock will be repurchased.
Kam Mahdi, the Company's Chief Executive Officer said, "This decision to establish the Plan reflects the confidence we have in the fundamentals of our business and is consistent with our long term strategy of seeking to create shareholder value."
About Probe Manufacturing, Inc.
Probe Manufacturing is a global electronics design & manufacturing Services Company providing innovators with business services through our factory in California as well as factories Worldwide. Headquartered in Irvine, California, Probe has been serving industrial, instrumentation, medical, aerospace, defense, and automotive industries since 1994. Probe's common stock is traded on the OTC QB under the symbol PMFI. Further information is available on Probe's website: www.probeglobal.com.
This release contains certain forward-looking statements (under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) with respect to whether Probe's business strategy, whether Probe's stock repurchase plan will create long-term shareholder value, and whether Probe's stock repurchase plan will increase the value of its common stock on the market in which it is traded. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: uncertainties relating to changes in general economic and market conditions; uncertainties regarding changes in the EMS industry; the uncertainties relating to the implementation of our global business strategy; and other risk factors as outlined in the company's periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: Probe Manufacturing, Inc.
CONTACT:
Probe Manufacturing, Inc. Kam Mahdi, Chairman and CEO 949-273-4990 X814 kmahdi@probeglobal.com or John Bennett, CFO 949-273-4990 X807 jbennett@probeglobal.com
I can only imagine how high this is going to go once the buyback starts!
Great find. I'm going to do a DD compilation on this one tonight!