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who knows....now maybe they will be more proactive talking to shareholders and have more time to focus on their business..
i do think that is good news though.
Makes sense...I have actually been picking away. Valuation very low and even a broken clock is right twice a day. Someday Chris will end up selling the company. Will never get what he should have as he has been pretty lazy and lax running the business. Lets face it, he was an orthepeadic doc, and never a very good businessman. The attention to detail is embarrassing.
Web site, shareholder letter, and on and on.
long and wrong, but hope springs eternal....and as you point out
the product is really good...in the hands of a real company they could earn a great deal of money with it
Hey....anybody still check this board ever? Stock has drifted down to .035-4pennies. What a gigantic dissapointment. Anybody talk to the braintrust at the company that has done such a good job of bringing us to this point? More competiters in the markets with lots of companies offering neck protection, but Leatt still has one of the best, and prices are still pretty steep for a good brace. They have gotten in the habit of reporting earnings in a timely manner which is a big positive, now we need to see the revenues begin to grow again. Hopefully the new guy in charge can help focus them in their core markets. At a roughly $5million market cap with something like 12+ mill in sales this year (thats a guess) and $2 million bucks in cash (thats a fact) this is still a wicked cheap stock. They need to bring some professional management into the business that can maximize shareholder, not to mention Chris Leatts, value.....
long and wrong so far.....
course cant lose much from here,lol, hard to get hurt falling out of the basement window
Not sure about the freight train thing moto, but do not disagree with most of what you diss the company for. Seems as though Leat hammered Alpinestars on price and has outsold them by a wide margin, so this is just Alpinestars trying to get back in the ballgame with a low priced non adjustable brace. Not a positive for Leat by anymeans, but hardly the end of the world.
Totally agree that Leat still has limited to zero shareholder correspondence. The US president is more a figure head and has no experience in the industry. Dr Leatt is an inventor that does not have very much business experience and even less public stock mkt experience. They move at the pace of molassas in SA.
All that said and done still has a mkt cap of about $12.4mm dollars (138mm shares x .09). Sales (declining in this enviroment for sure) of $18mm and about $3mm dollars of cash on their balance sheet as of the last report.
They did manage to get back on the pink sheets. We can at least see a bid and offer. Product is good. Likely to never get what we should out of this but still possible to get more than it is. Ya pays your money and ya takes your chances.
Ok so we are well past the public meeting. Charms.....any thoghts as to how it went? There do seem to be more market makers in the stock, albeit some of them slime balls like DOMS. Has anybody heard anything new regarding the fundamentals of the actual business? The last quarter was poor, no shock given the economy and guessing this one will be nothing to write home about. Did anyone that went to the meeting learn anything? Did they actually have a meeting?
Inquiring minds want to know....
wow, one day after a mini rant i have to eat crow.....not loving the taste o dat, but have to give em credit for at least getting relisted on the pinks...didnt think they could do it.
ladenburg is a credible small broker dealer
HAH!!! Well now we can see where the 700k shares came from and why. Company put out a bs press release. Missing the Q by a mile. My bet is these guys never get relisted as it looks to be a fraud. Seriously doubt we can even get a nickel for our shares anymore. Just goes to show, in small companies never bet on the product.....have to bet on the mgmnt. Horrible bet in this case. Horrible management.
Not true....anybody can sell shares. Guessing you could sell all you want, just maybe not at the price you want. Pretty sure you could sell size at a nickel. Seemed like a big slug traded at that level recently.
What numbers would those be?
Ah well, he had a shot and blew it. No more growth. Very profitable, very cheap stock but the dude is a scummer. Company keeps all the money for themselves. Shareholders get very little. Bored with this moving on. Never buy a small company with bad management.
But I am certain the numbers will be out anyday now......
Because Chris Leatt is either the dumbest laziest white man on the planet, or a scumbag fraud peddling hype artist. Neither a real good charecter for a CEO.
I have 50 bucks says they can report the 08 numbers prior to the start of Q4 09!!! Well maybe....hoohaw! That is some kind of progress baby, these boys are firing on all cylinders. And if they can make that goal we could see it get relisted on the pink sheets sometime prior to end of this decade. Dang!!! Moving at the speed of light over there!
No, i did not buy at 2 cents. I do own stock. My reference to flying high was in regards to you offering to sell stock at 25 cents. You must be high to think that could happen. Sorry that was so obtuse that it needed explaining. Hope that helps. BTW, there is a large seller that is offering to sell at .10, another reason you must be high to think anybody would pay .25 for yours.
LOL, ok good luck with that! You go from whining to flying high...gonna have to do a better job of titrating your meds. But I am cheering for ya, 25 cents here we come.
How about a little cheese with that whine? LOL, guessing your wrong about 08 over 07 but maybe someday we will actaully find that out. In the meantime if you even remotely think that is true, you should take your nickel back and move on to the next one!!! Happy to help you there btw.
Went there did that, thanks for the link, and what I see is the case was voluntarily dismissed without prejudice. Alpinestars tried to have the patent ruled invalid, that in fact did not happen.
Leatt though appeared to "lack standing" when the complaint was filed and served on Alpinestars. Lots of complicated legal noise and rulings but at end of the day there was no closure to the arguement as to if the Leat 919 patent was valid or not. Can see that both co's were spending lots of coin on this and I am not surprised that Leat bagged it and is trying to fight it out in the marketplace. Seems like a good move for both companies.
Can you post that or give us a link so we can see that?
How ridiculous. Stock is four pennies and the reason is the company management are incompetant, morons. Sorry but its true. Lets face it, they cannot report in a timely fashion. Even if Leatt was to sell the company he will not get nearly what he should for the business because they have never understood what it is to be a public company. They are sorry fiduciaries of the public trust. The letter they put out should have been written a year ago when the last annual report came out. What a pathetic display of understanding of what it takes to be a public company. The good news is, you get what you pay for. Four pennies....any takers?
I hear there are buyers out there! Problem is they live around the 3-4 penny level.....
ZZZZZZZZZZZZZZZZZ......are you kidding? This makes like the 7th time they have "introduced" this new product. How about filling us in on relisting somewhere. Better yet, why not give us some hint on the quarterly numbers.
agreed
Uh yeah right. That would be gross profit before all expenses except cost of goods. The operating income was 6.6mm
which is phenomenal as well. The 2.7mm "fair value" adjustment for the preferred stock will take some serious looking into. The bottom line after tax and "adjustments" was 1.984mm, which was a ton less than they had advertised, although still not horrific. 2 pennies a share for a 12 penny stock is about right given that there is no transparancy or ability to see how their growth is progressing. It is wicked troubling but maybe not a problem that they pay related companies to do all this work for them.
Seems to be very conflicted. Certainly not shareholder friendly. But as I say, too early to say if that is a real problem or just a start up company doing what they can to keep expenses down.
No numbers for 08 yet so clearly they are not able to be a fully reporting company which means they stay on a bs exchange for a while.
Good first effort from the company if very late but will require answering some serious business questions to see if this is more than just a way for the principals to pad their own pockets at shareholder expense. Be interesting to see if they make any kind of public presentation.
Mainspring that is awesome work and much appreciated. Have seen many of the sites and discussions on the collarbone issues and agree. Any idea about what is going on with the inability for the company to get their audited numbers out? Has been a long time in coming since they first said they had hired a US firm to get them GAAP audited numbers out. My guess is people are nervous there is a bigger problem here than the ability to sell braces. Any info would be helpful.
Hey Butte, can you define soon? This board has gotten very quiet. Anybody have any thoughts about the delay in getting the fin's out? Fair to think there may be some issues.
yeehaw!!! stock trades 20,000 shares plus, oh wait a minute, that was at a dime!!! guess the fins must be just around the corner huh? well at least some volume is coming into the name as we get closer to the release, oh wait a minute, all the volume is at lower prices. Do you think that is a good sign Butte? Bet this will really fly once we see the numbers huh?
Such a fluff piece, and more than likely total BS. So the new IR guys told you "the numbers look GREAT!!!" Based on what? The audit is not out, you mean the auditors gave him an inside look becuase they are tight with him and then he just happened to slip them over to you??? Lets at least keep the BS in the realm or reality on this hype board ok?
A fact is that the suit filed in April of 07 vs Alpinestars has been "Dismissed-Voluntary" as of 6/20/08. Ain't a lawyer over here but that could be good news as perhaps it means there was some kind of settlement. Now it also looks like it was a "trademark infringement" suit and not a patent suit so i am not too sure what all that means. One thing it does mean though is that it is another major piece of news that resides in the public domain that the numnuts that run the company have neglected to tell shareholders about....
Leatt....moving at the speed of light and going nowhere!
ps...still like the brace
Anybody hearing anything? Since hiring the IR firm the company has gone totally radio silent. I swear they are the mgmnt team from hell. We are now in Q3 and they have yet to release the 07 audited numbers or even put out their standard bs Q1 and Q2 release. Any of you defenders of managements virtue care to fill us in on what a good job they are doing?
if you hang out with skunks, you're surely gonna smell
hmm. With an impressive IR campaign like that I am surprised the stock is trading at .16 down a mere 33% on the day. Does Leat pay for IR like that or does he just do it out of a sense of boredom?
another month goes by, the seasons change, supercross ends, motocross season begins.....brings us another season closer to the day Leat Corp publishes a quarterly report....
hope springs eternal
any idea what is going on with relisting or getting audited numbers? i see they have taken the old numbers down off their website.....any thoughts?
Have you guys seen the new neck brace from EVS? Looks similiar to the leatt brace but different as well. Unlike the Alpinestar brace which looks like a total knockoff this one looks dissimiliar enough so that it might not be violating the leatt patents, but i dont know about that stuff so couldnt say that w any certainty. What i can say is that it looks pretty cool and seems like it will ship in May of this year. Price tag is between $150-170 bucks....bout less than half the cost of a leatt.....def gonna have to try one out. Brace is called the evs rc evolution or something like that.....can check it out at www.thumpertalk.com curious as to hear your opinions.
271,000 plus trade yesterday, anybody have any thoughts on this thing?
I dont have any actual stats but I do ride, race and watch almost all the ama national motocross and supercross events and here is what I have seen. Over the course of 07 I am guessing in the lites class at the start of the season you saw maybe 10-15% of the pros riding with the Leatt brace and by the end of the 07 season that number was like say maybe (yeah it a guess) 30-40%. In the mx class it was somewhat lower in the beggining and end but saw the same type of growth. I would be shocked if that number for both classes is not closer to 70%+ by the end of the 08 season.
At the local tracks where i ride and they host the amateur class races that number started the year around 0-5%, finished at 15-20% and again would guess will easily double in % terms next year. Lots of Leatts for Xmass around here!
Has gotten very quiet around this board!!! Doesn't look like the co. has been able to get relisted....maybe next year. We going to see tax loss selling into year end here?
OK, now thats what I'm talkin bout!! Very solid numbers, terrific growth year over year but more importantly Q over Q.
Brought a lot down to the bottom line and actually filed in a very timely manner!! These guys relist and this thing is dirt cheap and gonna move....imho
lol, send a pound of whatever your smokin.....seems like good stuff.....thanks for the comedy Mr. Butte
agree with you on this Royal....more on what happened http://www.transworldmotocross.com/mx/news/article/0,13190,1672058,00.html
Royal, I am starting to think you are one heckofa shill for this thing. If you dont want to do a ,"silly back and forth" then at least stay with the facts of my questions and don't make things up.
1) They are a public company. Raised money in the public markets, they have public shareholders. It is pathetic to say they dont care about shareholder value. If that is true it clearly answers my question about management savy and not in a good way.
2) Begging for quarterly numbers??? Laughable. Sad but laughable. If they are so concerned about the SEC, guess what Royal, they have to report in a timely fashion. Skilled management teams have tremendous knoweledge about their businesses, strong financial controlls and the ability to report in a regular timely fashion. We do not.
3) I have never asked them to ,"come out screaming whenever something good happens." Where did that come from?
Still love the product, use it, and won't ride without it.
If the company is not concerned with shareholders, then they should buy the stock back and take it private. If they are as strong a management team as you suggest, then they should get in compliance, relist and publish detailed financails in a timely fashion. It would do wonders for the share price you seem to think is so undervalued.