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As far as I understand, the only thing that Leatt Corp doesn't own are the Leatt Neck Brace patents, which are owned by Xceed Holdings.
Leatt Corp. are allowed to use the patents to design, manufacture and sell braces all around the world and does this through its wholly-owned subsidiaries, Two Eleven, Three Eleven and Leatt New Zealand Limited.
So they don't own the patents, (Dr Leatt does, I think, which entitles him to royalties from brace sales). This doesn't mean that they are a bad company to buy shares in. When they do sell enough braces to make a profit, that profit is Leatt Corps (and hence the shareholders).
Since Dr Leatt holds the majority of shares in Leatt Corp., I'd imagine that it's in his best interests to make the company worth something and not just live off the royalites. However, he's made a lot of money already from the royalties, so maybe he's happy with that. Who knows?
I'm hoping the results show a profit for the year as well, but as you say, it probably won't change anything. No one is interested in the stock and the company seems to like it that way.
It will be interesting to see what comments they have about the future. I'm not predicting much info though, they usually copy and paste some rubbish from previous Q presentations.
So frustrating that a company like this, with the exposure and products they have, is sitting at 3 cents. No trading. No one cares.
All we can do is wait and hope that sometime in the next 10 years, they actually start caring about their shareholders, and not just about getting paid out royalties.
Have you folks seen the 2011 Leatt catalogue?
Link: http://www.leatt-brace.com/images/uploads/media/downloads/Catalogue_GPX_273-10_Preview_Version1.pdf
Found it while googling Leatt. Check out how many products they have now, including an STX brace which I haven't seen before.
I just can't understand why investing in this company would be a bad idea. It seems that they are doing a great job developing their range of products. Don't you think this HAS to result in increased sales and increased profits?
Last traded at 3 cents. As of Sept '10, their shareholder equity was 9 million, which is about 7 cents per share. It confuses the hell out of the me that their share price isn't higher than it is. I guess I just don't understand the stock market very well.
Sigh...
Are either of you in contact wit the IR man? Does he have anything to say?
I'm still here dude. And still waiting with my fingers crossed.
They've got a lot of new products and you're right, the new website is really good. They have been loosing about $250K each quarter, but hopefully things will pick up.
I think the main problem is that NO ONE is interested in the stock. Leat needs to get people/institutions interested in buying their stock. I don't see that happening any time soon, unfortunately. They just don't seem interested in their stock price.
Us shareholders sit here with almost nothing, but Dr Leatt is making a fortune off all the sold braces...
Sec investigation over, with recommendation of no action. Took a while, nice to get it out of the way, but it looks like the damage is done. I think this stock was about 40 cents when this investigation started. Sigh...
Im still here and waiting. Ive just put these shares in a drawer and will check them out in a couple of years. Great product, good sales but the management dont seem to intetested in improving the stock price. That cant go on forever, someone will buy them, dont you think? Heres hoping. Ive seen so many other companies priced way above this only on hope. Maybe Leatt's day is still to come...
What did you folks think of the 2009 numbers?
Based on what they reported in for Q1-3, they actually made some money in Q4. Not much though. Sign of things to come? Q1 results shouldn't be to far away.
They had revenues of $13 million and sold 80 000 braces, which means each brace is being sold for ~$170, which is a far cry from the $395 price tag the normal GPX has. They are giving their distributors plenty of room to make some money.
I'm still hoping that some company comes along and wants to buy Leatt Corp. Think there's any chance of that happening?
Seems we're getting a new general manager:
http://www.dealernews.com/dealernews/Aftermarket/Phil-Davy-Takes-Position-at-Neck-Brace-Firm-Leatt-/ArticleStandard/Article/detail/635412?contextCategoryId=48447
Hopefully he'll make a difference.
Can't be long til Q3 results are released. What are you guys expecting?
Quoted from Q2 financials:
"At June 30, 2009 the company had cash, cash equivalents and short term investments of $3.3 million."
So it's not as if he's sucking the company completely dry.
As always though, I'm excited to see the next piece of news. Hopefully they'll have something interesting to tell us at the shareholder meeting.
I tend to agree with VegasTony, here's why:
If we can (just for fun) disregard the fact that Dr Leatt is making a lot of money compared to what the company is making (which is worrying and will probably be discussed at the shareholder meeting), there's been a lot of progress, for example:
1. We used to complain there was no news but they've improved that and we've been flooded with news lately
2. We used to complain that they never reported numbers, well they've been reporting in a timely manner for the last 3 quarters
3. We used to complain that they couldn't get relisted, well they've managed that
4. We've been worried that they only have 1 product, well they've mentioned twice that new products will be launched in early 2010
5. Advertising is lacking, but new markets are opening up regardless.
These are all steps in the right direction It hasn't been the huge success I hoped them to be, but who knows what's around the corner. This recession has hurt far more successful companies than Leatt Corp, so I'm not so shocked their numbers have been dropping. Lets hope they can turn it around soon though.
Just a guess, but since they sell 4 types of braces, perhaps they have 2 million in stock of 3 types and they ran out of the other?
The earlier press release says they braces weren't shipped before June 30th so it sounds like they've been ordered/bought but can't be put in the books until they've left the warehouse. If that's the case, those orders should easily be recovered in the next quarter.
2 weeks til the shareholder meeting, will be interesting what they have to say there. They've mentioned in 2 different press releases now that new products are on the way in 2010. I wonder what?
Leatt Corporation Common Stock Commences Quotation on The Pink Sheets
http://finance.yahoo.com/news/Leatt-Corporation-Common-iw-1595014798.html?x=0&.v=1
This has to be good news, no? Anyone know if Ladenburg is a good thing or not? A big company like that wouldnt get involved with Leatt if they thought it was a lost cause?
At the very least, things are moving along. Even if they are moving slowly...
At least it's good to know I'm not alone...
Silence...from everyone
What are we going to do with our shares? Just hang on and hope?
Leatt is quiet but have been reporting numbers. The numbers haven't been as impressive as I would have hoped but they're still making money.
Why hasn't there been any progess on the relisting? I'd love to see some buy/sell data.
Really sucks just sitting here waiting...
Anyone know anything?
Leatt's 2008 results on webpage:
http://www.leatt-corp.com/uploads/LeattFSDecember312008.pdf
Thoughts?
This must be the most frustrating stock ever!
5 cents? 5 cents? 5 CENTS? Aaarghhh!!!
Everytime I read through the 2007 numbers and speculate the 2008 numbers, I just can't understand why this is priced so low. I reckon we should be trading about 5 times what the current price is. Such a shame.
With Q1 now behind us, hopefully they will release their 2008 numbers soon and get something started. *Sigh*
All we can do is wait and hope...
Remember the wording they used in their press release about it:
"because the Company has concluded that Alpinestars' product is unlikely to gain even a toehold in the United States market".
Obviously the people at Leatt and the people they've talked to have a very low opinion of the Bionic brace.
Perhaps they just don't see Alpinestars as a threat? A bit bold considering there size, but hey, Leatt has a well known brand now and can afford to be a little bold, can they?
IR tells me that financials for 2008 will be completed by end of March and released some time in April. That's not unreasonable.
The old IR guy, Tim clemensen, did a bad job at replying to emails or phoning people back but the new guys, Paul Richter (prosage@comcast.net) usually answers his email within a day.
He's the one that told me that financials for 2008 will be released in April. As I've posted earlier, on leatt's own forum, they've posted that as of Sept 08, they had sold over 100 000 GPX braces so I firmly believe that 08 financials will be good.
And with regards to Chris Leatt getting paid royalties for his invention, why the hell shouldn't he?
Just out of interest, when did you guys buy shares? Was it in the huge run up (from 3c to 60c) in early 07?
Patience is a virtue...
One more thing...
When I sent the email to the new IR guy, Richter, I got an answer an hour or two later. So I suggest that you guys send him any questions you have, he'll probably answer you pretty quickly as well.
Got an email from the new IR guy last week.
He said a number of different things, which were not all that helpful. He did say that they are going to post a letter to shareholders on their webpage this month which should answer some of the questions we all have.
He also said that they are well aware of the fact that their shareholders want the liquidity of the stock to improve and are working on it. As for listing on a better exchange, he said that that can cost 250 000 to 1 million dollars per year and that the company is trying to work out whether that is in their best interests.
Ladenburg Thalmann and Co have applied to be Leatt's market maker. Is that a good thing?
I also asked him about the Leatt's old IR company and he basically said that they are a bit expensive for what the company requires from them right now, that's why Richter and co have taken over IR.
I've had shares in this company since June 06, but am still semi-patiently waiting for them to get their act together. They way I see it, our investments are pretty safe, even though that's not reflected in the share price at the moment. This company is worth way more than 6 cents per share, even based on 2007's numbers.
Middle of January isn't to far away so it will be interesting to see whether the IR man is full of s#¤% or not...
If they are working on a deal to sell the whole company, I really hope they ask for a decent price. If they doubled their sales from last year, they could easily have made $10 million profit in 2008...PE of 10 and that's around a dollar per share. Add in some future growth and the estimated value of the patent and they shouldn't sell for anything less than $1.50 per share.
I bought mine at an average of 26 cents, so right now they're not looking pretty. Here's hoping...
Beginning to lose faith...
Has anyone else tried getting on contact with IR lately? I've sent them couple of emails but they are pretty much being ignored.
Any educated guesses as to when they will realease their 2008 numbers?
Anyone know if they've applied for relisting or whether that is on the way?
Why oh why are they so quiet?!?
Still waiting, less patiently than before...
What the hell?
Gotta be someone trying to mess about! 125 shares at 0.0001??? That's like a 1 cent transaction.
I really really hope this gets sorted out and whoever sold those shares goes to jail for stock manipulation!!!
I think this is rubbish but to be honest I'm getting more and more concerned. Why haven't they released any data from Q1, 2 or 3 this year?
Anyone know anything?
Financials finally out!
http://www.leatt-corp.com/uploads/LeattCorp-FINAL2007.pdf
Great link!
If you have a look at the latest Q and A, they say that they've sold over 100 000 braces...
From earlier releases, they only sold about 40 000 braces last year, so a sales this year could be over 60 000 already. Really hope they release their audited numbers soon and give us some indication on what their plans for the future are...
http://leatttalk.com/comments.php?DiscussionID=65&page=1#Item_0
Q: What does Leatt think about the recent launch of ‘competitive’ neck protection devices in the motorcycle arena?
A: Leatt Corporation; we feel that the Leatt-Brace® is the only tried and tested neck protection device on offer in the motorcycle industry today. Considering that the market place is made up of people desirous of protecting themselves against catastrophic neck injuries, consider the two key words above; tried – we have sold over 100 000 Moto GPX neck braces, we
The silence is deafening...
Can't be long now until they release their audited results.
Anyone heard when the $195 brace is going to be put into production?
Just doing a quick search through the online forums shows that the braces are as popular as ever. Hopefully that will translate into good Q1/2 2008 numbers, but at this rate we will only get to see those NEXT year...lol!
New investor relations
Seems Leatt might agree with you and have got a IR guy, Rubenstein investor relations.
http://www.leatt-brace.com/index.php?page_id=8&id=2
Hopefully they will be a bit more helpful than the old IR guy was.
I don't know anything...
I remember from their earlier press release (Feb 4) that the audited financials would be released after 30-60 days, which means they are pretty much overdue now. I also wonder why they removed all the 07 results from their website?
Someone on another message board posted this: "talked to the IR guy at Leatt (some attorney in DC pulled off a press release) said they are in the process of completeing their audit. did not give me a firm date for completion but i am guessing sometime before the end of April...once they complete the audit and get a 10K out they are going to relist on a better exchange than the grey sheets (OTC BB?)"
Hopefully we will hear something soon...very excited to see what the audited numbers were like and what the Q1 2008 numbers were.
New Leatt Adventure - $195
Have a look at this. They've come out with a new and cheaper brace. Half the price. Not a bad idea! Certainly makes them more affordable.
http://www.vitalmx.com/news/news/Something-to-Look-for-New-Leatt-Adventure-Brace,2783
Anyone know when they are going to be releasing their audited financials or whether they have any plans on relisting?
New product on the way?
Have a look at their website...seems they will be lauching something soon.
Also, have a look here: http://www.vitalmx.com/news/news/Whats-Leatt-Up-To,2766
Anyone have any theories?
From website: PRESS RELEASE FOR IMMEDIATE RELEASE
Following a hearing in the English High Court, Leatt and FRO Systems have reached a confidential settlement of their dispute over the alleged infringement by FRO of Leatt’s design rights in the Leatt-BraceTM for use by motorcyclists. Under the terms of the settlement, FRO has stopped selling its Neck Protect product and will pay an undisclosed sum to Leatt.
Dr. Leatt, the designer of the Leatt-BraceTM and Chief Executive Officer of Leatt Corporation, said that he was very pleased by the outcome, “Leatt have spent millions of dollars researching and developing the design and functionality of our novel neck brace. We shall not hesitate to take all necessary action to enforce our intellectual property rights which protect the product internationally.” Both parties are pleased to have resolved this matter amicably.
About The Leatt Corporation:
The Leatt Corporation is the exclusive global distributor of the Leatt-Brace™, a Neck Brace designed to prevent or lessen the severity of potentially devastating motor sport njuries to the cervical spine (neck). The Company is located in Cape Town, South Africa.For more information on the Leatt-Brace™, please visit the company website at www.leatt-brace.com. Any web site or portion thereof referenced herein is not a part of this press release.
Investor Relations. Please contact:
Paul W. Richter, (804) 644-2182, prosage@comcast.net.
Ho ho, nice lift today on good volume...
Hopefully this is the start of repricing up :)
I just had a look at the photo gallery on vitalmx and as far as I can see, there are mostly leatt braces on the riders. They all have different sticker kits though.
I was under the impression that the alpinestars braces aren't in production yet due to the ongoing lawsuit filed by leatt.
Here's a link to the photo gallery I had a look at:
http://www.vitalmx.com/photos/features/0-2008-Monster-Energy-Supercross-Anaheim-2,3068/,9899/GuyB,64
I agree though, no fun seeing it at 11 cents. Hopefully Leatt will sort something out and get themselves listed.
Pungushe means "the fox" in swahili or something.
I think leatt released something around January last year saying that they predicted 10 mill in revenues for 2007 and over 50 mill. for 2008. Would fun if that happened :)
Lets guestimate a bit...
Lets say that the Q3 of 2007 is pretty representative of what is to come for Q4. (I don't think is to much of a ridiculous assumption since Leatt has been working on their distribution network the whole time. From the looks of their webpage, they have started distributing to Europe as well as USA, Canada and Australia)
So, lets say they bag another $5.5 million in revenues for Q4. That would bring 2007 revs upto $15 million, of which about $5 million is profits, right? Given that the company has issued 110 million shares, that would be an EPS of about $0.05.
Based on a pretty standard PE of 10-15, Leatt's share price could be in the region of $0.5-$0.75. Considering that todays share price is $0.2, isn't this one hell of a STRONG buy???
I've asked Investor relations about 2007 results and they say they should be posted sometime in March...
Any thoughts on what the new year will bring us?
Gone very quiet around this board. Has everyone given up?
New website and brace
Just paid a visit to the new website and noticed that they have a new product, the MOTO-KART brace. Looks to me like it is a mix of the MOTO-GPX and the MOTO-R.
It's nice to see that they are developing new products!
Leatt-brace popularity?
Guys, I don't get a lot of motoX on tv where I live so can anyone tell me if they are seeing more and more of these braces on riders? It's going to be interesting to see whether their sales numbers are still increasing. I've been following the development of their website and it does seem that they are continually getting more and more distributors.
I also wonder whether there will be any accident/injury info published in early 2008. Have there been less neck injuries since the brace came out?
On another note, I sent an email to the investor relations contact asking about the issues with the SEC but they only answered that the SEC work to their own schedule and that they cannot predict when the issues will be sorted out.
Never-the-less it's probably going to be an interesting 2008.