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Sell True Wireless? Take a look at the FCC plan for lifeline services and perhaps this will all make more sense.
https://www.fcc.gov/general/lifeline-program-low-income-consumers
Grease - I read your last 3 or so comments. All I can tell you is that Sam's business model is not flawed. In fact, it's working to perfection. The only problem is that it's not the same one you think it is. I told you maybe a dozen times how this is going to play out. So far, Sam is playing this game like a pro. He's going to separate the retail shareholders from their investment. So far, the man is on a championship pace.
Let's see if the new Board member can figure this out. If it turns out that he's another poker buddy, then he'll say nothing, collect his checks, and everyone except the retail shareholders will be fat, dumb, and happy. I still think he's gone before SuperBowl. I think this guy was brought in to appease some dissident member of the 'team' who believes they need cover. Whether he stays or goes is not important. It's not Sam's fault if no one wants to play with the children on the board in their little sandbox. Remember, if they don't like him, they can throw him off. I hope he brings enough juice boxes for everyone at the next mud pie session.
It's a good thing they didn't put stamps on that last bunch of letters they were going to send out on June 30 until July 1. Otherwise, they would have had to expense those stamps in Q2 and might have shown a loss. This was a close one. Wouldn't be surprised if the CFO had them count the change drawer to see if they could find another $20 here or there.
No one is going to buy this company. Plated found a sucker to absorb their loses. First to sell out gets the good deal. Everyone else gets less.
Why buy the cow when the milk is free? If someone wants to resell Apron's products, I'm sure the company will cut them a good deal. They need the volume to cover their fixed costs. Never going to be profitable, so why buy it?
Please report if anyone has a Jimbo siting. Kinda wondering what that rascal is up to.
Oh Fishy - you gonna let him abuse you like that? You stand up for Sam and his posse. Someone needs to. It sure isn't gonna be me. I think he's out to fleece all the minority shareholders, so color me a bad example. But you, Fishster, you're like the last Mohican left. You and CoolHandLuke are all that's left,and CHL doesn't like to play with us naysayers. Then again, if I owned as many shares as he does, I wouldn't be in a pleasant mood either.
So hang in there, Fishman. We need you to play your role. Without you, this board would have 3 posts on the days of the 4 shareholder conference calls (just a bit of IVFH humor there). Other than that, crickets.
Wasn't trying to be funny. But I did minor in sarcasm. It has become my language of choice.
That coiled spring is a dead snake. The vultures will make short work of it. This POS isn't going anywhere for a while. You still have another 3 to 4 years of planned incompetence to go. It's all part of the plan. Don't rush things. You are powerless to stop it anyway so just enjoy being fleeced.
Welcome Mr. Polinsky.
“To further align his interest with all shareholders, David was provided with the opportunity to invest directly into IVFH and on July 23, 2019, an entity affiliated with David purchased $250,000 of the Company’s common stock at a 30% premium over the prior 30-day average closing price.
And he threw in The Gift Box into the deal? Anyone look up thegiftbox.com on Alexa or similarweb? Per Similarweb, 782,035th most popular website in the USA. They must be selling tens of boxes a month. Either this guy is totally bored or he's another poker buddy for the board. Bet one of them has a wife that won't let him play all night. This guy is the replacement.
CoolHand - what's the over/under on this guy? I figure he's gone before SuperBowl. Wait until he finds out that they passed a rule that if he doesn't bring enough donuts or gum for everyone, they can kick him off the Board just because they want to. He'll tire quickly of the 3rd grade BS. Taking the under.
Amen to that.
I can't say what knowledge Mr. Rico has when it comes to doing due diligence on a shell company. Nor do I know for sure that the shell's history is the problem. It makes sense that it would be, but one cannot be sure.
If the problem is the shell's history, then maybe someone didn't look into this very carefully before it was purchased. I don't know how much due diligence is reasonable before buying a shell as I have never bought one. Sometimes, one follows all the steps and it just turns out that there was something unexpected that makes the deal a problem. I just hope this is going to be resolved very soon.
I believe the problem with the audit is not related to the coffee business, but with the shell's business activities prior to the coffee business. Lots of micro cap companies employ financial practices that use terms like 'shoebox', 'bill drawer', 'owner IOU', and 'walking around money'. 3, 4, or more years after the fact, these practices are very hard to audit.
If I had to guess, the audit problem is due to the shell the company purchased. A combination of time, poor accounting practices by the previous shell owners, and often missing paperwork make the audit job very difficult. I am hopeful that this isn't going to go on much longer. But there is no way to know. The fact that they are still working on the audit tells me that the auditor believes there is a solution to whatever problems exist.
The PR specifically doesn't mention the PO amount because it is a purchase for testing purposes. If the testing goes well, the company will have a dependable new distributor and the distributor's customer for the long haul.
This is how one builds a business when one is a small producer - work through distributors. They have the sales force. They know the buyers. They know the competition. And using distributors allows the company to focus on scaling production and developing new products to meet customer needs.
It's been a long road for Lamperd, but the pieces are now falling neatly into place. The roadmap is clear, and Lamperd has played their role well. I like what I see. This may take a few years to really take off, but I expect the prospects for the company will compensate shareholders to stay on-board for the long haul. We are still early in the game. This one has a long way to run.
Let's understand that Turkey's purchase of military goods and services from the Russia has nothing to do with Lamperd's relationship with Gokser.
Furthermore, if you bothered to do some research before posting, you might find that many NATO countries purchase and operate Russian equipment in their militaries. Almost all the former Eastern Bloc countries have militaries supplied with Soviet hardware. Mr. Trump's decision that he has to have his way requires him to find a fall guy if anything goes wrong with his negotiations.
Let's try to keep this on Lamperd and its future.
Seems to be a lot of people expecting sales to climb exponentially month over month. Perhaps it may work that way in a consumer products business, but Lamperd sells government regulated products to government agencies. One has to account for budget cycles, agency approval testing, marketing and distribution.
I hold a fair number of shares in this company. If I didn't believe that this company is taking the right steps to grow this business, I'd bail in a heartbeat. But that's not the case. They went through the steps to grow a business.
1) They identified products that will sell. Every company has some missteps when it comes to product development. Not every idea works. Some people have been happy pointing out products that seemed to come and go. Perhaps the problem was that the company told shareholders about them before they knew there was a market. But they can't be faulted for developing 10 products in the hopes that 3 to 4 generate decent sales.
2) They have built an impressive set of distribution partners. For a company of their sales and stature, one cannot look at their distribution partners and fail to note that Lamperd has aligned themselves with some attractive partners.
3) Now we are in the marketing and sales cycle era. I wish police, military, and private security people made quick decisions, but they don't. They have a process they go through. The process takes time and costs money. But without that process, there is no sales growth.
Bottom line - this probably isn't going back to a dime in the next 2 quarterls. But I feel comfortable that the company is taking the right steps to make that happen. Retail investors are notoriously impatient. And I know many have been waiting for years to see some progress. Sorry if you got in too early. But for those who have been here just a few years, the game plan in clear. It's now a matter of executing and building sales momentum. It won't happen overnight. But it is happening and that is the crux of this morning's PR.
Grease - Good to hear that you have thrown in the towel on this POS. I imagine many others will come to the same conclusion. It just takes time. But that is precisely how some people want the game to be played. They are thinking long term and a quarter here or there means nothing to them.
I hope you will stick around. There is going to be an end-game at some point, though I don't know if that will happen in 2021, 2022, or 2023. I doubt it will be much longer. The cost of money is too high give the risk in this tiny company. Just when things look darkest, it may be worth a shot. But I suspect that day is many quarters off.
Good luck with your submarine parts company.
This is really getting exciting now. Some days, up a penny. Other days, down a penny. Hard to know if this excitement will ever end. At least we can collect those monster dividends while we wait, eh? Nothing like being paid to wait. Yup, its the best. Se you guys again in August.
TTFN
The excitement is palatable. Don't know if I keep up with the activity on this board.
Question - Any updates from the now more communicative management team?
I received multiple notifications this morning that LiteLink seeks to become the Uber of freight logistics. Just curious what moron thinks an investor would be interested in a company losing a billion dollars every 90 days with no clear path to being profitable - ever. This is the company LiteLink compares themselves to?
Time to fire their IR people and get someone with at least half a brain.
Are you referring to the Sam that runs IVFH or is there another Sam you are talking about.
1. The Sam running IVFH isn't investor friendly, he knows it, and doesn't give a rat's axx.
2. Pepsi, or whatever his name is, has no leverage. Sam holds control. He has the cards. Pepper can attempt whatever he wants. I'm backing Sam and laying the points.
3. FD began as a combination of greed and ignorance. It morphed into arrogance, stupidity, and incompetence. I'll grant you that one. All these DTC acquisitions? I'm not convinced the company can show any growth in the chef to chef space. As for IVFH's apparent incompetence in this market? It's either by design or gross incompetence. I'll grant you that incompetence is a theme we've seen play out before. But I'm going by design. I believe it's part of a larger, and darker, strategy.
4. If you understand the game, then you know he is bullet proof. He is under absolutely zero pressure. Everything is running like clockwork. I've explained this before.
Sam has home field advantage. I'm taking Sam and laying the points. IVFH isn't worth fighting over. Peppi, or whatever his name is, will give up in frustration.
I have another term for you 'Entrenched Management". You might want to look that one up.
Hint:
https://www.thoughtco.com/definition-of-entrenchment-1148004
But that's what I'm trying to tell you. You don't have a vote. And the reason you don't have a vote is because Sam has 50% + 1 vote. He doesn't need to care about you. He is king and there isn't much that you or Claude Pippin or whatever his name is can do.
Yes they are. Their silence screams 'Team Dark Side'.
Won't you be surprised when you find out that your GS Superhero has gone to the dark side? Speaking of the dark side, have you called the other large shareholders to find out when they are going to open their pie holes and tell the world how unhappy they are? Or have you decided that it will only be disillusioning to have the phone slammed on you.
If only you had those special glasses to see who has turned to the dark side and who hasn't. I'm guessing there would be a lot of people wearing lead underwear.
That's a huge problem with cell phones. There's no emphatic phone slams on a cell phone. 'Click' just doesn't convey the right emotion the way a good slam does.
You have yet to present even a hint as to how this magic happens. Oh, let me guess. Because this guy once worked for the Dark Empire (GS), everyone will just run from his enlightenment and desire to do 'right' in this world? Is that it? Or does he charm them with compliments to get in their good graces? I like the Superhero approach of enlightenment and a burning desire to achieve good in this corrupt world, but I'm not sure that works outside the comic book world.
So tell me again how Claude Pippen, or whatever this Superhero's name is, is going to make IVFH super profitable, $1.50/share, and run like a real company for the benefit of all stakeholders. I'll get my peanuts and vodka so I can read this fairy tale. Far better entertainment than most of the crap on TV.
If a collection of Sam's poker buddies constitutes an independent board, then I must have misspoken. How could I ever confuse Joel 'Shut up and deal' Gold and Hank 'Flush beats a straight, right?' Cohn as being anything but independent board members.
This is a long term game. One doesn't go from start-up to market leader in a few years. It takes time.
The game plan is clear. The company is developing its distribution channel. Order flow is not yet much to crow about, but the trend is your friend and it is looking better every quarter. The company is building a distribution network that will reward the company with orders. When selling to governments, the sales process takes time. So show some patience.
The future looks bright. The company strategy is precisely what it should be. It is now a matter of letting the distribution partners do their work and supporting them. For those who got in too early expecting overnight success, I don't know what you were thinking, but this is how it's done. The last 18 months have shown everything an investor could want to see so far. I am long and staying that way. I like what I see.
Don't hold your breath waiting for Super-Pappas to come save your investment. Sam has this wrapped up. That's why you don't get a chance to vote. The controlling shares are all wrapped up. And Super-Pappas can either join the fleecing party as a fleecer or a sheep. And if he truly is from GS, I got him holding the sheers. Them boys learned real good how to F over a sheep.
Can you say Baaa?
Let's see if your Goldman Sachs hero (makes we want to vomit in my mouth - just a bit) takes a stand and saves the day for the sheep minority shareholders. Where can I put my money on NFW? Cause it ain't gonna happen.
Either he's another clueless idiot like the Board member they summarily fired (technically I suppose he told them 'FU - you can't fire me 'cause I quit!) or he's gonna be one of the fleecers as the sheeple minority shareholders go about their usual routine of guessing at next quarter's EPS and marveling at why nothing is happening. Again.
Recap - He's either a clueless fool to have bought into this POS another 1%er about to profit from the sheeple's inability to do squat. I'm not sure how I vote on this one. Want to see the game play out for a few months then I'll decide. Hero isn't one of the options, that much I know.
Grease - Sorry, you can't change history and you assume things could have grown as if by magic if only Sam hadn't changed course.
I;m not sure I blame Sam for changing course. I'm not convinced that there the chef to chef market is big enough to permit continued expansion. There has to be small players to acquire and what if they don't exist? Now if Sam and the rest of his management team weren't being complete DB's, maybe they would have explained that to the shareholders. Then again,. maybe they wouldn't want to panic them. Better to let them die a slow death due to incompetence in selling B2C.
Then again, maybe it's not incompetence, and maybe the course change was designed to hold down earnings for a few years. Chalk me up as a believer in this theory. I believe this is incompetence, arrogance, and utterly childish behavior by design. Sam's not stupid, not by anyone's definition. I also don't believe in coincidence. The larger shareholders silence speaks volumes. Something is up. Someone is going to make money when all is said and done. And I'm not convinced this isn't a zero sum game. There will be winners and losers. If you aren't setting the rules, you will be a loser.
Grease - feel free to believe in whatever fantasy strikes your fancy. If Mr. Pappas was a half the man you hope he is, what possible reason would he have invested in a crappy little food brokerage business with a mismanaged DTC business. This is a slow growth business with little upside.
The Board of Directors runs by Lord of the Flies rules. The CEO refuses to communicate with the scum and vermin that own shares in the company. The company has yet to figure out how to sell DTC and that's where the only possible growth opportunities lie. And yet Mr. Pappas is here, or so you report.
So ask yourself why. What's in it for him? Is his awesomeness going to turn this into a cash machine with a 6% dividend by next March? Is he going to rid the company of its managerial problems single handedly? The whole crappy company is worth less than $20 million.
Remind me again how awesome this fellow is, how he's going to save IVFH, and how he's going to do it? Then maybe you can tell me how the Jets are going to the Super Bowl next February?
What makes you think that James Pappas or anyone would want a seat on a board where they recently passed a rule that they can throw anyone off the board the others don't like? Just how much change would you expect to see from a board run by children operating under kindergarten rules? If you fail to bring enough bubble gum for all, you risk being embarrassed and tossed off the board? Why would anyone put up with that crap? And for what purpose?
No one is taking on Sam and his Board of Directors of lackeys and toadies. So there must be a reason these people stick around as shareholders. Anyone care to provide another reason why? I started the list. Anyone have another reason?
Interesting spread on the bid/asked. Low volume is probably more a reflection of the lack of audit than a lack of interest in the company. I expect volume to pick up substantially once the audit is released. Let's go GHAV!!
What 'reward' have I been telling you about for the last 2 years? And guess who is going to pay for it?
Harsh? I don't think so, because only #1 is a reasonable answer. If I am wrong, and there isn't a deal, then the only remaining answer is that some fool gave a lot of money to several morons to invest. One moron with money? Possible. 2 morons with money? Not likely. How many companies have filed 13-D's indicating they own 5+%? 3? 4? Nope these people aren't all morons with money to invest. Something is not what it appears to be. There is just too much complacency with too much incompetence. I smell a rat.
"but it seems no big shareholder says anything against him"
Hmmm - I wonder why that might happen. Can we create a list of possible reasons why this might be the case? I'll start.
1) The large shareholders have a 'special' relationship that will reward them for keeping their mouths shut.
2) These people are too embarrassed to admit that they made a mistake in investing in the company, so they keep quiet and hope no one notices.
3) The volume is so low they fear they can't get out.
4) They believe Sam when he tells them next year is going to be better. Again.
5) They think the company is doing well and the stock price will catch up eventually.
6) They think not holding conference calls and communicating with shareholders is the proper way to run the company and they have no problems with that.
7) They love the dividends and don't want to rock the boat.
8) They don't have the time to get together and insist that the Board include one of the people.
Feel free to add to the list. There has to be a reason. I'm a big fan of #7 but my heart says #1 is the top answer on the board in more ways than one.
Another outstanding quarterly. Just curious when the newly responsive management who pledged to be more communicative will be holding their quarterly conference call. Or was that comment just there to shut up the critics for a few days.
Sad and de-freakin-plorable
Wrong question. I already told you. The game is not what you think it is. When IVFH flounders, only the independent shareholders suffer. Nothing here that isn't fixable by simply shutting the doors. When the time is right. Think 2022.
Last I looked, today is 45 days after the end of the 1st quarter. Should we be looking for a quarterly report late today? Or is this going to be late also?
Good decision. It can only go down 85 cents from here. That's why you don't want to buy at $1.15. Too much to lose.
This company is worthless. It may turn a small profit, but if it does, it will be on a shrinking base that is unsustainable. No one wants the business because no one needs what they do. The brand has almost no value. Putting food in a box and handing that box to FedEx for delivery is something that hundreds of competitors can do, especially on a local level. The problem with this business all along was the desire to go national. Had they stayed a smaller business on the East Coast, they could have been a profitable albeit smaller business.
Looks like a poor understanding of the economics of the business when they started coupled with clueless venture capital support. Hard to turn it down just because the company is unlikely to every be profitable.
I did some work with jerky manufacturers earlier in my career. The concept of jerky is that because it contains so little water, it doesn't spoil. It takes 3 lbs. of beef (or whatever protein) to make 1 lb. of jerky. And unlike chopped beef products, you have to start with good fillets. Then there is labor, dehydration, packaging, and shipping. You can be sure that for $60, you are probably receiving 12 to 16 ozs. of jerky. Maybe one of you guys who are buying into this nonsense can place an order and let us know.
As for pickles, shipping water is expensive. Almost anything you can pickle is between 70% and 90% water. Water weighs 8 lbs. per gallon. Plus a glass jar. For $60, one isn't getting a huge amount of pickles either, though when compared to the jerky, it will look wonderful.
If this is Innovative Foods' consumer initiative, I think they may want to rethink this outstanding opportunity and go back to B2Chef sales.