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I have talked to Rick a number of times. He answers my questions and is helpful. I'm not sure how much gets back to Phil. One thing he told me was that the reason the stock dividends didn't happen was because the subsidiaries had not grown as fast as originally hoped for. They wanted to wait until the subsidiaries were big enough so that the dividends would be meaningful. That makes a lot of sense to me. My quarrel with Phil is that he isn't honest with shareholders about these kinds of things. He sweeps things under the carpet. He changes the timetable on things without any explanations. People lose confidence in what he says. I think he should just be honest with us. Just tell us that they are waiting on the dividends until the subsidiaries are bigger. Give us a rough idea of when it might happen and then keep us updated on the progress. We can handle it. People will be more patient if we are given good explanations about what is going on and we are given regular updates. It's just so simple. It just comes down to BE HONEST! BE HONEST! BE HONEST!
I don't have it anymore. You might call the company of Rick in IR to get it.
NMKT has wanted its price to go higher for a long time. They had some limited success for awhile with some of their Pr's by creating a lot of false expectations. They got people excited by talking about a lot of things that never happened. Now people are fed up with the false expectations and PR's have almost no impact. All the while that NMKT was talking about reducing shares many millions of new shares were being issued. The people that were supposedly going to accept shares in subsidiaries were overwhelmingly rejecting that proposal. Most of the preferred shares have allready been converted. Most of what remains belongs to Phil. The plan to reduce shares means that Phil will accept shares in subsidiaries instead of the 20M shares of NMKT he is supposed to receive. It will be interestinmg to see juast how many shares i9n subsidiaries he gives himself. In the first quarter even Phil rejected his own plan. He converted half of his own preferred shares into NMKT shares breaking a promise he had made saying that those shares would not be converted. There is only one answer to NMKT's stock woes IMHO. Phil must decide to become a straight shooter. He must start telling shareholders what is really going on and stop playing all these games.
From .60 to .315 in the last ten weeks is "building momentum". Very funny.
I have written several very long letters to Phil Verges voicing my concerns about NMKT. I got a very long EMail response to my first letter, but have not received any responses since. My letters have not been moaning and groaning type letters. My first three letters were very supportive and upbeat. My last two letters were frank as far as voicing my concerns. My biggest problem with Phil is not his enthusiasm and excitement about NMKT. There is no question that he made some mistakes and got carried away a few times. My problem with Phil is that when he messes up he doesn't make it right. He sweeps things under the carpet. When things don't happen the way he said they would he just ignores it. He doesn't offer a good explanation and he doesn't tell shareholders exactly what is being done to achieve the goals. He just repeats the goals over and over with new timetables and no explanations. As far as I am concerned he has lost all credibility. You simply can't believe anything he says anymore. I agree that people should deal directly with Phil. Talking to IR is a waste of time. Rick will answer your questions. His job is to try to soothe your anger, but nothing will be done about it. If enough people would go directly to Phil it might make a difference. I used to have his EMail address, but I don't have it anymore. Perhaps if someone has his EMail address we could forward some of the best posts expressing shareholders concerns to him. The object of this would not be to bash Phil, but to offer constructive ideas as to what could be done to restore NMKT's credibility and get the stock moving again. I think that any sane person must admit that Phil and Rick's efforts to promote NMKT stock have been a gigantic failure. The company may be doing well, but the stock is a disaster. Regaining credibility is the number one thing that must be done to restore the stock. Phil must come clean. We need details about exactly where the stock dividend process is at. We need more details about where the AMEX process is at. Why has it taken so long? Why have dividends taken so long? Keep us informed step by step as these things progress. Feel free to EMail this to Phil if you know his EMail address.
The spinoffs were what attracted me to NMKT to begin with. Of course, it is a great idea and makes NMKT a very unique investment. The problem is that it is all BULL. In 2005 NMKT promised that shareholders would receive dividends in three subsidiaries by the end of 2005. In March of 2006 they promised that NMKT shareholders would receive dividends in three subsidiaries within twelve months. That represented a fifteen month delay. They have never offered shareholders any explanation as to what caused the delay or what was being done to expedite the dividends. They only need to have one dividend actually paid to shareholders to send this stock on its way. The problem is that it never happens. If NMKT is serious about paying dividends in subsidiaries surely they could find a way to actuaaly do it with just one subsidiary. I'm more inclined to think its a snowjob being done to shareholders in order to keep new shareholders coming in. My advice to NMKT is "put up or shut up".
There are lots of reasons why this stock is down. The biggest reason is that way too many new shares were issued this year and they are now out in the marketplace being sold. The constant issuing of new shares provides a constant supply of new shares that can be sold. It is likely that we will have 160-170M shares outstanding by the end of the year. This will make earnings per share drop because of so many new shares. The profit drop from $1.5M to $400,000 on higher revenues was a disaster. Increasing share count and decreassing profits is a formula for disaster and is likely to lead to a price drop from .69 to .31. Of course, there are the many broken promises, but I won't go there. In order for this stock to go back up earnings must go back above $1M. It is essential. An AMEX listing or stock dividend would help, but I have given up all hope on those long awaited promises. It all comes down to three things now. EARNINGS, EARNINGS and EARNINGS. Earnings must go back up or we are dead meat. I have talked family and friends into buying NMKT and I am very embarrased about that right now. If I advised anyone to buy NMKT now I would warn them of the many, many promises that have been made and broken and I would advise extreme caution. Without trust what do you have?
It looks like we are getting desparate with these pathetic useless PR's. We just keep repeating the same PR's over and over. Who cares about the sqeeze trigger price or where NMKT ranks in Dallas? NMKT is in the bottom 50 when it comes to market performance. Why is that? Perhaps it because NMKT NEVER does what it says it's going to do. Lots of promises and no action. Lots of delays. People are fed up with overly optimistic guidance, AMEX promises, dividend promises, share reduction promises, management buyback promises, sqeeze trigger garbage and on and on. In the past these feeble Pr's gave NMKT a one to two day pop. Now it lasts about 15 minutes. NMKT has lost all respect in the market place. This is now a "prove it to me" stock and will continue to do nothing until NMKT actually does something. I still hold 30% of what I had, but continue to be very, very disgusted with this company.
EZM earnings - IMHO EZM will earn $65M or .12 per share in the second quarter and $116M or .21 per share in the third quarter. EZM projects that they will produce 55M pounds of copper and 13M pounds of zinc in the third quarter. 13M pounds of zinc are hedged at $1.62. If EZM sells 55M pounds of copper at $3.50 and 13M poounds of zinc at $1.50 their third quarter revenues will be $212M. The net hedging loss would be $#M, expenses would be about $%5M and taxes would be about $38M. That would give them a net profit of $116M or .21 per share.
It looks like they plan to merge with some companies that have virtually no revenues or value so that they can use their allready listed stock. That means they do not need to go through the application process. They just merge with the listed company and use their stock. It might save them from having to get audits on each of the subsidiaries before they are listed. It saves the application fees for new listing, etc. Just a convenient way to get listed without the hassles that would normally be involved.
I find the new "no PR" policy interesting. I am glad that NMKT has decided to stop making a lot of promises that they can't keep. The problem is that the Pr's were the only thing that would give the stock an occasional short term boost. Now you can't trade the stock because it never goes up. I never saw NMKT go four weeks without a PR before.
What has happened here has been the constant issuing of new shares. NMKT has been issuing new shares at the rate of about 2M per week all year. These shares are constantly being sold in the market causing constant downward pressure on the stock. The long string of broken promises has discouraged many long term investors. Many of these disgusted investors have fled. People are tired of waiting for dividends, AMEX listing, share reductions, management buybacks, etc. The drop in profits in the first quarter to $400,000 from $1.5M was devastating. This stock is dead until profits go back above $1M and some of the long awaited promises actuaaly happen.
Thanks for the info. It sounds like their statement is one of those legal protection things. It looks like about 2M new shares were issued in the last month. Thats down from the 7M per month rate of the first five months. Maybe we are coming close to the end of the share dilution nightmare?
I could have been a millionaire. I just sold 5,000 shares after this meaningless PR at .374 and it is allready dropping. I will buy them back at about .34 or .35 and do it again when the next PR comes out. It is so predictable. Each PR causes a short term jump and then down it goes. If I had been doing this for the last year I'd be a millionaire by now. The PR's used to last a day or two, but now they only last an hour or two. Some day there will be a PR about a $1M plus profit, a stock dividend or an AMEX listing and it will keep going up. Until then its time to play.
Has anybody seen a recent O/S count? I don't have access to a FAX or I would get one. Here is the transfer agents phone # and FAX # if anybody has a FAX: 801 272-9294 & 801 277-3147. If you FAX them a request they will FAX an updated count back to you. It seems like its time to get an updated count. Maybe somebody out there has a FAX machine?
What is notable about the first quarter is that profits went from $1.5 million in the fourth quarter to $0.4 million in the first quarter even though revenues were higher. If NMKT continues at that rate they will make .01 per share in 2006 and the stock is dead. Was the $1.5M unusually high or was the $0.4M unusually low? That is the big question. NMKT has its back to the wall right now. They must get profits back above $1M if the stock is going to start moving again. Second quarter results will be crucial. Higher revenues won't help without higher profits. NMKT stock has made one major move in the last 18 months and guess what caused it? Higher profits. Lower profits in the last quarter knocked the stock price in half.
I just sold some shares at .379. The last time this squeeze trigger nonsense came out it shot up and then went right back down. This stock will not make a major move up until 1)Second quarter earnings are more than $1,000,000 2) An AMEX listing is announced 3) A stock dividend is announced 4) A sizeable drop in fully diluted shares is announced. It will take one or more of these announcements to get NMKT back up to .50 or more. Right now, they have absolutely nothing going for them. The last report was very, very disappointing. A $400,000 profit each quarter this year would produce EPS of .01. This stock is dead until Phil fulfills some of his promises. He has lost all credibility. This is a show me stock now. Phil must prove to the market that he is for real.
Not a single PR in two weeks. It's been a long time since I've seen that. At least Phil can't get his foot stuck in his mouth this way. Has anybody seen an updated O/S count lately? The last one I saw was 146.5 million as of three weeks ago.
Why is NMKT down? Back into the .30's again. Could it be because of disappointing earnings, no AMEX listing, no reduction in fully diluted shares, no stock dividends, no management share buybacks yet? Lets face it they don't have much going for them right now. The great financial results aren't so great anymore. $400,000 in profit doesn't sound as good as $1,500,000. There is a possibility that the $87 million revenue goal might not be met. We need $70 million in revenues in the next three quarters to meet that goal. I am still remaining long, but we must admit that things don't look so good right now.
Today's contract was nice. It all helps, but keep in mind that a $3 million contract over three years means $1 million per year. That means that this contract will probably only add about 1/2 million to this years revenues. I hate that they don't tell you who it is. I guess the company doesn't want to be identified? We just need something much more meaningful than this. All these moderate size contracts bode well for the future, but we need a PR with some real meat in it.
Alex - EZM sold 38M pounds of copper in the first quarter at an average of $2.25 per pound. In the second quarter they should sell about 60M pounds at about $3.25 per pound. REvenues in the first quarter were $88M. Revenues in the second quarter should be about $195M. Total expenses in the first quarter were about $50M. Expenses in the second quarter should be about the same except taxes should be higher. Pretax profits in the second quarter should be about $145M. They are opening a new zinc mine in JUly that should add about $300M in revenues per year at todays prices.
It look likes the AMEX issue is pretty much dead for now. The OTC.BB is not what has dragged NMKT down. The issuance of 36 million shares so far this year is what has dragged NMKT down. If we had been on the AMEX we would still be down. The real issue with NMKT is the payment of the first stock dividend(not DFTS). When this happens that will be when NMKT "arrives". Phil will give us no clue as to when this will happen. Until this happens we will be waiting and waiting and waiting and waiting and waiting. My02cents? What do you know about NMKT's investment is Sensitron? Does Sensitron have a ticker symbol? THe only thing new I saw in the CC was the hint of big news from SEnsitron. Maybe we should all buy some SEnsitron. Buy EZM! Hundreds of millions of dollars in net profit coming this year and the stock is $2.10.
Same ole same ole! As usual not one of our questions was answered. Just the repeating of the same promises with no hint of where we stand on the timing. The only thing new was the promise of big news regarding Sensitron. Does anybody know if Sensitron trades separately and what the symbol is? How many shares does NMKT own? I'm so glad I sold some shares and bought some EZM. They could earn $1 per share next year and the stock is $2. Now I have something to be excited about again. I will just tuck away the rest of my NMKT for the long haul. It does take and will take incredible patience to own NMKT. You must be willing to wait a long, long time to see promises fulfilled.
I bought some EZM today with my NMKT profits. They earned .17 per share last year. They should earn much more this year. They paid off most of their debt last year and have over $50M in cash. They start zinc production in July and new copper production is coming on line. Their average selling price of copper last year was under $2 and right now copper is $3.50. I expect them to earn way over $100M this year. The stock is $2.15. Copper is in short supply and inflation is on the rise. I can't find where they've promised anything lately and not delivered. What an unusual concept.
I have a lot questions regarding the share situation. Maybe some of you can help. The fully diluted should have dropped by 9M because the 20M VTI shares were converted to "only" 11M shares, but the fully diluted only dropped from 182M to 180M. Where did the other 7M shares come from? It wasn't the 7M preferred shares that got converted because they should have been allready included in the fully diluted count. Some people think that the plan to decrease fully diluted was properly announced in the 10Q. Phil said the plan included exchanging some of the VTI shares to shares in the subsidiaries and that $2M of the VTI loan "might" be switched to a non convertible loan. As usual, nothing was said about any of this. Is Phil still going to receive some shares in subsidiaries in addition to the 11M NMKT shares he allready got? What will happen to the other 20M shares that are still there? 18M additional shares have allready been issued since the end of the first quarter. That's as many as were issued in the entire first quarter. Who got those shares? Is Phil getting more shares for the remainder of the loan or was this all preferred shares being converted? Before Tuesday the best case scenario for NMKT was that they would end up with 142M shares outstanding. If 20M of the VTI loan shares were converted to a non convertible loan and 20M shares were converted to subsidiaries then we would have ended up with 142M O/S. Now the best case scenario is for 160M O/S. If the remaining 20M VTI shares are converted to a non convertible loan or shares in subsidiaries then we would have 160M O/S. If all of the 18M shares converted during the second quarter were preferreds then only 14M more preferred shares remain. If some of those 18M shares were VTI shares then there are more than 14M preferreds remaining on the O/S/ will increase above 160M. God only knows what the worst case scenario is. The 11M shares Phil was issued for the VTI loan are currently worth $4.7M even though the entire loan was only for $4M. Whatever compensation he gets for the other 20M shares will be added on top of the $4.7M he allready has.
Does anybody believe the level of incompetency that we are dealing with here? They wait to the last minute to file and then they "accidentally" file as an SB. How bad is that? Now we have another broken promise to add to the long growing list. We were told there was a plan to reduce fully diluted shares by exchanging convertibles to subsidiaries. We were told that this plan would be announced when year end results were announced. Then we were told the plan would be announced when first quarter results were announced. There was no mention of the plan when first quarter results were announced. As always there was no attempt to explain why this plan wasn't announced. I am losing all faith in NMKT. I don't believe that you can trust one word that NMKT says about anything. We have a gigantic credibility gap. No $75 million, no stock dividends, no AMEX, no share reduction, no stock buybacks. The list of broken promises grows longer and longer. Ponder this. If the AMEX holds NMKT to the $2 rule NMKT will need to have a market cap of at least $320M in order to qualify for listing(based on 160M shares outstanding). Does anybody really think thats realistic for 2006? I continue to believe that a 1/5 R/S will be necessary for an AMEX listing. The only really good news in the report was that accounts receivable went way down. This is particularly good since they needed to add some A/R for Unione. I haven't yet completely given up on NMKT, but I am very, very discouraged right now. I keep hoping that Phil will get his act together and start doing the things he says he will do. Instead of getting better it just gets worse. Not only does he not straighten out the past broken promises(Stock dividends, AMEX), but he keeps adding more broken promises to the list. I will try to hang in there awhile longer, but it is getting harder and harder to do.
There were an additional 11M shares converted during the first qtr that were not preferreds. It looks like they were not previously included in the fully diluted. That makes the really big question "Is there more shares out there that are going to be converted that are not currently included in the fully diluted"? It looks like Charleoi was right about shares being converted from loans that were not on the books. Phil needs to come clean on how many shares can still potentially be converted from loans. My concern is that the final share count could top 200M. WE just don't know. I think a R/S is definitely going to be the way to go. We will never have decent EPS unless there is a R/S. Does anybody know whats up with the 10Q and 10QSB?
This was a disasterous report. It turns out that the share reduction program was a farce. The big reduction in fully diluted was from 182M to 180M. The VTI loan was changed from 40M to 20M, but another 18M shares showed up in the O/S. If you disregard the VTI loan the fully diluted was 142M at the end of the year and 160M at the end of the first quarter. The big question is where did these shares come from and are there more out there? At the end of the quarter there were 32M shares still to be converted from preferreds. We know that at least 16M shares have been converted since the end of the quarter, but were they preferreds or "other" shares? At the beginning of the year I expected the final O/S to be between 130-150M. We now know that the best case scenario is an O/S of more than 160M and we really have no idea how much higher than that it may go. We know for sure that the dilution process is not over. We have at least 16M more shares to be converted. The revenues were actually pretty good because Unione was only in there for about three weeks. Next quarter Unione should add about $4M in revenues. Financial results are not the problem, but share count is a HUGE problem. I sold more shares this morning. I have now sold one third of my shares.
Its kind of like this. I apply for admission to Harvard while I'm in the elenth grade with a 2.0 average. I tell my friends and family that I've applied to Harvard and I expect to be going there. Harvard sends me a letter telling me that I don't qualify, but they will keep my application and if I get my GPA up to 3.0 when I am a senior they will consider my application. I don't tell my friends and relatives that. I just keep telling them I have applied at Harvard and I expect to go there. NMKT never had a valid application on file with the AMEX because they've never qualified because they are an SB. That may change today, but now we must deal with the $2 issue. The point is NMKT was making it look like they were being considered for the AMEX when they weren't. You can't be considered when you don't qualify. They were probably being told(IMHO) that you will be considered when you qualify. The AMEX decision hasn't been delayed since January because of the $2 issue. It has been delayed because of the SB issue. The $2 issue is irrelavant until they can qualify. It is a short term positive to make people think an AMEX listing is near because people may buy the stock thinking that. In the long run it hurts because people get fed up and sell and you lose your reputation. What is my motive for saying these things? I have no desire to bash NMKT or Phil. I just want to see the company tell the whole truth. I want to sleep at night. I want to stay long NMKT for the long term, but I want to know that I can rely on what I am being told. I don't want a bunch of crapola. Just tell me the truth, the whole truth and nothing but the truth.
Phil flat out said in March of 2005 that NMKT would pay three stock dividends by the end of 2005. He did not use the word guarantee or goal. He just flat out said they would do it. You were told for over a year that NMKT was negotiating with the AMEX. You were not told that NMKT never qualified for an AMEX listing because they were still filing as an SB. There could not have been any negotiating going on at that time because NMKT didn't qualify. Now that NMKT won't be filing as an SB they will finally qualify for the AMEX after 17 months of waiting. Now the problem is that the stock is under $2. Its not Phil's fault that the AMEX has put in new rules. It is Phil's fault that we were never told until February that NMKT didn't qualify for the AMEX because of the SB rule. It is Phil's fault that we are being given no information regarding the current status of the application. It is Phil's fault that we are being given no information regarding the current status of stock dividends.
Of course I bought without anybody holding a gun to my head. Everyone always buys without a gun to their head. People bought Enron and Worldcom without a gun to their head. Wouldn't it be nice if you could make your investment decisions based on actual facts? Wouldn't it be nice if you could trust your information so that you can make an intelligent decision? Yes there's a difference between goals and truth. There is also such a thing as half truths. Many people bought NMKT in 2005 thinking that an AMEX listing was near. Now it turns out that NMKT never qualified for an AMEX listing because they were still an SB. Were shareholders told this little piece of vital information? No! Have shareholders been told anything about why stock dividends haven't been paid yet or what is going on regarding this situation? No! People just don't get it. The issue is not missing goals or profitability. The issue is half truths and the withholding of important information. You get people to buy your stock by telling them you're going to be listed on the AMEX and you're going to pay three stock dividends by December 31, 2005. You don't do it so your response is to offer no explanations to those that the promises were made to. You just repeat the same promises to a new batch of investors and start the process over again. There is NO ACCOUNTABILTY. Promise them anything. Break the promises and then tell them nothing. Doesn't anybody get what the real issue is here?
Augie - I must disagree with one of your points. Phil does ask us to invest in his company. They put out PR's with the intention of convincing people to invest in NMKT. It is up to us to decide whether to invest or not. I chose to invest in NMKT in January of 2005 for three main reasons. Phil was projecting revenues of $75 million for 2005, Phil said he would pay three stock dividends by the end of 2005 and Phil said NMKT had applied for listing on the AMEX and NMKT was moving to a better exchange. None of those things turned out to be true. I was convinced to buy NMKT with totally false information. I have made a decision to hang in there hoping that someday something Phil says will come true. I did take your advice and take some profit Friday. I think it was very good advice. Fortuneatly I have a .32 average cost so I have a profit. Many people are sitting on a big loss. I am pleased with my profit so far and pleased with the $1.5 million NMKT profit in the fourth quarter or I wouldn't be here. That doesn't change the issue of whether you can believe a person's word or not. Profit performance and integrety are two different issues. All we can do now is wait and see what comes out tomorrow and in the next few weeks.
Not exactly. I am saying that he doesn't tell the whole truth. Its kind of a fine line. I don't think he deliberately makes false statements. I just think he puts a positive spin on things by leaving out important details. He tells you that he has applied for admission to the AMEX, but forgets to tell you that he knows he won't qualify for at least a year. He tells you he is reducing share count at the same time share count is soaring. He forgets to tell you that the VTI shares were never supposed to be converted anyway. He makes forecasts that he knows will be very difficult to achieve. He makes things appear imminent that are way down the road. He just sugar coats everything. The main difference in our opinions is that you believe that NMKT is an outright fraud. You believe the financials are phoney and that many deliberate lies are being told. I don't think the financials are phoney. I just believe we have a CEO that isn't straight with us. He sugar coats things, makes false promises, leaves out important details and doesn't tell us whats really going on.
I will certainly consider selling all of my shares depending on what happens Monday. I have put a lot of blood, sweat and tears into NMKT and don't want to give up on it. I keep wanting to believe that these long overdue promises will someday be fulfilled. Phil seems to go out of his way to try to disappoint investors and run them off. I am not that interested in first quarter results. I am interested in seeing a final share count and having an assurance that ALL shares have been converted. I am interested in hard news concerning the listing of NMKT subsidiaries and the progress of stock dividends. I am interested in hard news concerning the AMEX application. I am interested in hard news concerning a management share buy back. All I know now is that the fully diluted count at year end was 182 million. 40 million of that was the VTI loan. That meant that if no one except Phil converted their shares to subsidiaries we should have ended up with 142 million shares outstanding. Right now we have 144.6 million shares outstanding and we have no idea when that will stop increasing. Since the stock is a lot higher now we should be converting less stock, but that is not happening. We are converting more stock. The biggest single issue that bothers me is the AMEX issue. In March we were told that NMKT had to wait until it filed results as a regular corporation rather than an SB before they could qualify for AMEX listing. This is something that NMKT had to have known for a very long time. They knew over a year ago that the AMEX listing would be delayed until at least April of 2006, but they never told shareholders this. They act like it is just around the corner to keep you hooked. Now they are not telling shareholders that IMHO they don't qualify because the stock is under $2. In his Wallst.net interview Phil said he expected an AMEX listing soon after the year end results were released. Where is it? I'm just losing all faith in NMKT management. You have to look at the record and the facts. YOu just can't trust a word that these people tell you.
This is my idea of what a NMKT strategy meeting might look like. "We need to keep our current shareholders and attract new ones. Lets make outlandish forecasts like $75 million in revenues for 2005, $500 million for 2008 and lets tell them that we have a $100 million acquisition pipeline in Latin America. It doesn't matter if we get anywhere close to that. They will forget all about it. We just need to attract new investors now with outlandish projections. We need to address the concerns of our shareholders. Some shareholders are upset about being on the OTCBB. Lets apply for admission to the AMEX even though we don't qualify because we are an SB. We will tell our shareholders all through 2005 that we are trying to get on the AMEX even though we know we don't qualify. We are not lying to them. We have applied for listing. We just won't tell them the truth that we don't qualify. Then in 2006 when we don't qualify because our stock is not $2 we'll just keep repeating that we have applied. We can keep stalling them indefinitely. We will tell them that we plan to pay them stock dividends in three subsidiaries by Dec. 31, 2005. Then when we don't do it we can change the date to March 31, 2007. Then when we don't do it we can change the date to June 30, 2008 and on and on. Some shareholders are upset because the share count is increasing. Lets pretend that we have a plan to reduce shares. We will take the 40 million shares from the VTI loan that are not supposed to be converted anyway and we will convert them to millions of shares of NMKT Latin America. That way I can own a big chunk of NMKTLA, but the other shareholders will get no dividend in NMKTLA. It is the division that is doing the best so I get a nice chunk of it, but other NMKT shareholders get nothing. We can pretend that we are reducing shares when in actuality the share count will be exploding. This will divert attention away from the exploding share count and they will actually think that share count is being reduced. We can pretend to have a plan for management to buy shares, but we don't need to actuaaly do it. Many of our shareholders will eventually tire of the endless broken promises. It doesn't matter because we can attract new investors by repeating the same promises over and over for years. This will keep new investors coming in that don't know about the broken promises. It will be a constant revolving door. Promise them anything that keeps them hanging on and attracts new investors, but never deliver on any of the promises." - Why am I still a NMKT investor? A lot of people made a lot of money on Enron and Worldcom if they bought and sold at the right time. I still think NMKT has a chance to go way up if they ever follow through on any of their promises. I am just sick and tired of being made a fool out of. We are constantly being jerked around with phoney baloney promises. I have owned NMKT now for 18 months and I have never seen so much BS. If you plan to hold NMKT you need to buy an extra large pair of Texas boots because you will be wading through a lot of Texas BS. All I want is some honesty and openness. I'm sick of the constant stalling and hooey that they keep putting out with no action attached.
I think we've been totally had on this share reduction thing. I see on RB that we are now up to 144M shares outstanding as of this past Monday. We are consistantly adding about 3 million new shares every week and there is no end in sight. 36 million new shares have been issued so far this year. It is going to be very difficult to make any earnings per share with this many shares outstanding. It now takes $1.5 million in profit to earn 1c per share. I think that a R/S will be the only answer. Phil says things like share reductions and stock buybacks IMHO to mask what is really going on. What is really going on is massive dilution with no end in sight. What was 2.8 cents per share in profits for 2005 is now down to 1.9 cents per share because of dilution. Even higher dollar profits will result in lower per share earnings as more and more shares are issued. JMHO, but I believe that we have been misled regarding the magnitude of this share conversion issue. Misled about the payouts of stock dividends, about $75 million in revenues for 2005, about an AMEX listing and who knows whatelse?
I just sold 20 % of my shares. I'm a little worried about this report. I'm not sure what a "solid" quarter is. I'm guessing revenues of 16M and profit of $1.2M. That $1.5M profit for the fourth quarter was pretty spectacular. I'm not sure it will be repeated and anything less might be a disappointment. I'm very concerned about the fully diluted count. O/S shares were allready uo to 141M as of two weeks ago. The 40M VTI shares were never supposed to be converted anyway. A fully diluted count of 160M or more would be very bad news to me. There was only supposed to be 182M in the fully diluted count, including the 40M VTI shares which means fully diluted should have been about 142M. Even with a higher share price we are up to 141M or more shares. I thought the Xiptel PR was a disappointment yesterday. REvenues are still running below 10M and they may not make their "goal" for the year. The $2M contract was over three years and was with an existing customer. I'm just really antsy right now. No news on stock dividends, share buybacks, AMEX, etc. could cause a selloff back into the .30s. I hope I'm wrong, but I had to take some money off the table. I had 90%NMKT and 10% cash in my IRA. Now its 70%NMKT and 30% cash. I bought these shares at .32 so I'm not crying. If I was wrong and NMKT takes off Monday I'll be laughing all the way to the bank.
Well Charleoi? What are you going to do now? New Market(Xiptel) just named several of their VOIP customers. Now another one of your constant bashes that Xiptel doesn't have any named customers is gone. It looks like you're going to have to come up with some new things to bash about.
Charleoi - Please stop making statements that are not true. NMKT does have some fixed assets, They even charge off some depreciation each quarter for these fixed assets. It may not be a lot of fixed assets, but your statement that NMKT doesn't have any fixed assets is not true and discredits you. NMKT has filed in the past as an SB and is not required to file results for each of its divisions. I know many small companies that don't post separate results for each of their divisions. Phil R. said that as each of the divisions have their own stocks they will file separate results. If he doesn't do that then everyone will know that they were BSing us, but that remains to be seen. Phil V. gave us a breakdown of how each division did in FY2005 and gave a projection for FY2006. He responded to our requests. Phil has named customers that Unione has so you can't keep using that one either. If Xiptel is signing up individuals for VOIP service do you want them to name each customer individually? Serious longs here want to know about red flags concerning NMKT that concern us. The problem is that when you tell us so many things that are not true and bring up phony issues that you have no credibility in case there is a legitimate issue that we need to know about.
What in the world was that about today? I believe that more shares are still being issued as conversions. Why would there be so much selling right before earnings unless someone was converting and selling? I am antsy about this report. Phil promised a solid report, but what does that mean? He said that Latin America would have record results, but he didn't say the whole company would. I am predicting $17 million in revenues and $1.2 million in profits. Unione will only include three weeks of results and will not help that much. The share reduction plan may mean more than the financial results this time. News of the first stock dividend will be by far the most important announcement whenever it comes.