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ROTATE BACK MEETING WITH GULFPORT COUNCIL CANCELLED
Published: July 3, 2012 Appr. 12:36 EST
Read more here: http://www.sunherald.com/2012/07/03/4044018/rotate-black-meeting-with-gulfport.html#storylink=rss#storylink=cpy
By MARY PEREZ — meperez@sunherald.com
GULFPORT -- Today's special meeting with the Gulfport Council was called off as Rotate Black officials prepare to take their third proposal for Harbor Town Casino to the Gaming Commission July 19.
The $87 million investment now stands at $100 million and Rotate Black CEO John Paulsen said, "I'm very confident."
The Gaming Commission tabled Rotate Black's request to proceed in April and asked the developers to return with a bigger and better proposal for a casino at the Gulfport harbor. The developers returned in May with plans to enlarge the casino floor and rework the facade and the Gaming Commission rejected that plan by a 3-0 vote.
This new plan brings an unnamed national brand four-star hotel.
"We're increasing the size of the hotel to 200 rooms," said Paulsen. They also are adding an upscale swimming pool area with cabanas and increasing the casino and entertainment space to 35,000 from the original proposal of 21,000 square feet.
The facade of the resort won't change except for the height of the hotel tower, which Paulsen said will now will be five stories with 40 rooms per floor.
"It still fits in with the size and style of the marina," he said.
Paulsen said if the casino gets the Gaming Commission's permission to proceed, he hopes Yates Anderson can start construction August 1.
Read more here: http://www.sunherald.com/2012/07/03/4044018/rotate-black-meeting-with-gulfport.html#storylink=rss#storylink=cpy
ROBK... back in the news... Thought this sounded quite promising:
http://www.sunherald.com/2012/07/03/4044018/rotate-black-meeting-with-gulfport.html#storylink=rss
Ranb... I removed myself as a moderator as I've not been taking the time to frequent any of these boards.
RK
Saw that news release when it came out. Sounds good. More contracts is any software company's lifeblood. Growing revenue is good.
Well... that wasn't very timely. But I'm glad to see the new release. :)
Thanks John.
Looks like a little spike in volume. Could be a good sign.
Sounds good. It sure looks like ECDI's future is looking bright. Have you read the most recent Form 10? Contracts on the books for next couple years look good... plus I would expect additional contracts to be added to the mix as time goes on.
PLus it also seems to me that this whole sector should be fairly well insulated from economic up and down turns.
But who knows.
Best.
Maybe a new partner that's actually going to move forward with a drilling plan? Hope Hope!
BTW if I understand the 8-K filed yesterday, we have now or will shortly become a Bulletin Board stock... which means we're fully reporting.
Hey Bob...
Thanks for updating this board and for the links you provided. I've been a long time follower of ENUI... now ECDI and am quite excited at the prospects.
Best.
Randy
Thanks for keeping us up to day Profitscout.... DDCC seems like it might be poised.
Glad the company seems to be moving forward.
Best.
westeffer.... I've not been on Ihub much... but as I have been following DNRR for a while, I was quite pleased to see/hear that you were taking an interest in DNRR. We corresponded long ago on Dover Petroleum.
When I listened to Jackson's interview I felt the same way as you... He sort of just oozes confidence.
Best to you.
Grr... someone just sold 6000 shares... and I wasn't on the bid. I would have loved to catch those shares.
So... I'm now the bid at .10... come on market maker, take your hundred bucks and give me 6000 shares.
Hey ProfitScout.... This one has had some runs in the past.
With the volume today... it looks like we might be in for some another. We shall see.
Thanks for the heads up. I'm glad I picked some up at 2 cents.
Company closed through a form of bankruptcy.
I thought the company had a future and was going to make it big. Unfortunately, debt could not be restructured or negotiated and company closed. See SEC filings.
Hey... the stock traded today. Not too many shares... at $1.01.
Intriguing. Not much for a bid out there....
was .006.. Then .10. Now .12 (OK the .12 is my bid for 5000 shares. I doubt too many people even have that many shares after the 200:1 reverse.
Well, for what it's worth.... on Investors Hub there is both a bid and an ask.
Bid .006 Ask $3.50
How'as that for a spread?
http://ih.advfn.com/p.php?pid=squote&symbol=ECDI
Enucleus Name Change to EC Development
Reverse split 1 for 200 affected. Now we're waiting to hear more information about the merged company. How many shares have been issued? How much revenue and hopefully net income the new company has....
Of course it would be nice to actually see a bid/ask out there. All in good time I suppose.
We know from the bankruptcy "prospective target" company releases that EC Development had over a million in Revenue with some net income in 2009.
PRO/CON EVALUATION OF FUQI INTERNATIONAL
http://seekingalpha.com/article/178358-fuqi-international-bad-news-more-than-priced-in
After a period of consolidation that has taken the stock some 60% lower, it seems to us that the "bad" news (there seems to be very little, if any) is more than priced in, while there is plenty of good news. We take stock by providing an in-depth analysis and links to the latest research on this company.
Fuqi International (FUQI) is a rapidly growing Chinese designer, wholesaler and retailer of gold and jewelry based in Shenzhen. Wholesale is still by far the most important part of its revenues (90%), but it's rapidly growing in retail, which carries much higher margins. To expand that business, the company placed 5.58M shares at $21.5 in a stock offering in late July 2009.
Its retail business grew from 3% of revenue (2008) to 9.9% of revenue in the first half of 2009, no doubt helped by its acquisition of Temix in August 2008 (for $19.7M in cash and restricted stock representing 6-7x net income and 3-4x EBITDA). As of June 30, 2009, the company had 64 retail counters, including 50 under the Temix brand and 14 under the FUQI brand, and a total of seven retail stores, which are all under the Temix brand. [Oppenheimer].
We'll discuss the good news, followed by a study of some of the arguments that could provide some reason for the very large sell-off (and short position). First, the good news:
Chinese economy and jewelry spending are growing at a brisk pace and doesn't seem to slow any time soon
Fuqi's track record: growing considerably faster than the jewelry market
Strategy of expanding business in higher margin activities, like retail and ODM (original design manufacturing) seems to be paying off already and has a long way to go still
The metrics are very impressive, the company with this kind of growth profile has a 2009 P/E of less than 10 and is even cheaper measured against next year's expected earnings and a (five year) PEG ratio of just 0.33. Total cash is $173M while total outstanding debt is only $48.3M (on revenue of $466.9M and net income of $48M)
Insiders own nearly 60% of the company.
Let's put a little meat on this:
1) Market growth
We believe China’s jewelry market will grow 10%-15% annually in the next 3-5 years, supported by the country’s fast-growing GDP, increasing disposable income and large and growing middle class. China’s rapidly growing GDP, over 10% annually in the past decade and expected to grow 8% despite the global economic downturn this year, has generated increasing wealth among its citizens. [Oppenheimer]
According to KPMG, China’s luxury brand consumption reached $6 billion in 2004, accounting for 12% of the world’s total luxury consumption (after Japan and the US, at 41% and 17%, respectively) and was projected to top $11.5 billion in 2015, surpassing all countries to become the biggest consumer of luxury products with nearly 30% of global share. Meanwhile, jewelry is one of China’s largest consumption categories, closely following real estate and cars. The Chinese market is the second largest for gold jewelry and the largest for platinum jewelry in the world, as well as one of the largest diamond consumer markets alongside the US and Japan. China’s jewelry market is estimated by Global Industry Analysis to reach $18 billion in 2010. National statistics provided by the government have shown annual growth in jewelry sales of 17%, 25%, 38% and 44% in 2004 to 2007, before a slowdown to 6% in 2008 due to the weak economy. [Oppenheimer]
Having just visited China, the thing that jumped out at me was that the real trend is simple demographics. The big takeaway of my trip is that I'm convinced of the power of the emerging middle class, and that China's economy will eventually become much more consumer-oriented. I'm in good company -- McKinsey estimates that the middle class will grow from 43% of China's population in 2008 to 76% by 2025. That's a lot of new consumers. [Tom Winner]
Fuqi says young Chinese have bought into Western consumerism more than their older counterparts have, and are more easily lured by flash and glitz. That gives the company a target demographic to build its growing business around. [Rich Duprey]
The excellent Oppenheimer report (.pdf) has a lot more information on the growth of the middle class and spending, drivers behind the market boom in jewelry. If anything, the slowdown in growth in 2008 and early 2009 might already be behind us. There is also a wealth of information on that report on the attributions of the market and Fuqi's positioning in it.
2) Fuqi's track record
Revenue growth the last three years has been a rather phenomenal 74.2%
Fuqi is one of China's largest nationwide wholesalers of jewelry. The company has an established track record as evidenced by its consistent profitability, attractive returns on invested capital, and ability to produce over 3,500 styles per year. Competencies in design, manufacturing, sales and distribution have enabled Fuqi to outperform in good and bad economies and fend off thousands of small competitors. Despite China’s economic slowdown, Fuqi was able to grow its wholesale revenues by 147% and 32% y/y in 2008 and 1H09, respectively, when numerous competitors closed in the same period. Moreover, with an established distribution network covering eight provinces, we believe Fuqi is on track to gain share and grow faster than the sector over the foreseeable future. [Oppenheimer]
3) Strategy expanding margins
Fuqi’s retail expansion strategy could lead to improved returns, higher margins, and brand development. Fuqi’s growth strategy is to become a vertically integrated jewelry company to achieve margin improvement and brand recognition. Growing out of a leading jewelry manufacturer and wholesaler, Fuqi’s strong design and manufacturing capability could provide competitive advantage for its emerging retail brands and stores. Fuqi’s vertical integration provides cost advantages and flexibility in merchandising, which potentially should enable its Fuqi and Temix brands to compete more effectively with existing retailers. Currently, management expects to reach 100 retail locations by year-end from 70 at 2Q09. Based on operating results to date, we believe the company is on track to improve its margins as its retail business mix increases. [Oppenheimer]
FUQI believes that its wholesale business will facilitate its expansion plans in retail as very few retailers have a well-established wholesale platform. [Oppenheimer]
4) Metrics
In our opinion, strong balance sheet positions Fuqi to pursue its strategy of organic expansion and acquisition. Jewelry is a capital-intensive business with sizeable working capital to stock inventories and purchase raw materials. We estimate Fuqi currently has $140 million in cash as well as $87 million in inventory (as of June 30), most of which is gold and liquid. In addition, we believe Fuqi’s strong balance sheet allows the company to take advantage of market downturns to make acquisitions at attractive prices, as evidenced by its acquisition of Temix in August 2008, which has proven to be highly accretive to date. [Oppenheimer]
One might also want to compare Fuqi's valuation metrics with other companies in the sector, this is provided by Wisco Research (p.4). Fuqi comes off as particularly favourably valued compared to both domestic and foreign Jewlery companies, even more so if one takes Fuqi's generally much faster growth and clean balance sheet into consideration as well.
5) Insider holdings
we believe management’s interest is well aligned with investors’ as Fuqi has significant insider holdings. Following the recent $100 million follow-on offering, the company’s officers and directors as a group own an aggregate of 48% of total outstanding shares, including 42% owned by chairman and CEO, Mr. Yu Kwai Chong. [Oppenheimer]
Fuqi ownership (from MSN)
Sell-off?
The company had a very large positive earnings surprise in the last quarter (eps was 72 cents versus consensus expectations of 44 cents, and just 31 cents in Q308!) and upped it's guidance for the last quarter, as well as the whole of 2009 (to $2.21-$2.27). If that didn't get investors happy, they also expect 2010 wholesale revenue to grow at least 25% while retail revenue is expected to increase at least 50% in 2010.
However, its shares, which had already come back from the high's in the low 30s, sold off sharply and have been in a funk ever since. On first sight, that doesn't make sense, so we dug deeper into this paradox.
We managed to acquire four recent research reports (available here) and have been meticulously studied these in order to come up with any rational explanation for this seeming paradox. Even more curious is the large short position (47% of the float), so we zoomed into anything that could possibly be negative to assess its seriousness. This is what we found:
Negative cashflow
Wholesales ex-ODM missed projections
ODM business a one-off?
Retail sales didn't get off to a flying start
Gold price
Let's discuss these.
1) Negative cashflow
Investments predate returns for companies expanding as rapidly as Fuqi has. Rising material cost (gold) further ties down cash-flow, so we're not overly alarmed here.
2) Wholesales ex ODM missed projections
According to Wisco Research:
Revenue of $127 million fell below our $131 million estimate because of a political issue that hindered sales at the end of September. 2009 was the 60th year anniversary of China’s National Holiday and the government didn’t allow jewelry sales for several days before the Oct. 1st holiday on the security concerns, which means FUQI was not able to deliver products and record revenues during that period.
According to William Blair & Co.:
Excluding ODM sales in both periods, wholesale sales growth would have been 11% in the quarter, compared with 29.7% including ODM. Excluding ODM and adjusting for $5.0 million in wholesale revenues that were pushed from the third quarter into the fourth quarter, wholesale revenue growth would have been up 17%, still below our estimate of 26%. [p.2]
So, ODM saved the day and more than compensated for the closing down during the quarter for political reasons. The market apparently took this as a negative, but that seems odd to us. These are two one-offs, perhaps, or not. The closing down certainly is a one-off, but is the ODM business? If it's not, instead of a negative, this should have been interpreted as a positive. Let us explain.
3) ODM business a one-off?
Essentially, the jury is still out on this. First, what is ODM (original design manufacturing)?
The ODM business, which is part of the wholesale business, differs little from the base wholesale business in that the wholesale customers supply the raw material to Fuqi for production. Unlike the rest of the wholesale business in which distributors pay for the material, a design fee, and a processing fee, with ODM orders distributors pay only a design fee and a processing fee. The orders for the core wholesale business and orders for ODM are derived from the same group of customers. Typically, ODM orders are filled for larger customers that are also placing core wholesale orders. [William Blair & Co. p.2]
How high are these margins, compared to the wholesale business?
Gross margin for ODM is at least twice that of the core wholesale business, which drove wholesale gross margin of 23.6%, compared with our 12.5% estimate, and the EPS upside in the quarter. [William Blair & Co. p.2]
Which is why we really have a hard time understanding the following.
We view these ODM orders as lower quality than core jewelry sales and need to monitor the trend to make sure this does not continue. At a minimum, FUQI management made good use of extra capacity to land high-margin business, but this is not the core jewelry business for which investors are involved in FUQI shares. [Merriman, Curhan and Ford]
How can it be lower quality if they carry at least twice the margins of traditional wholesale business? The only way that could possibly be true is if these are a one-off. Is it a one-off?
Because it is difficult to predict how much of the wholesale business will be in ODM orders in the future, management’s guidance includes a normal (minimal) level of ODM business. That said, ODM has the potential to increase over time, adding a source of high-margin growth. [William Blair & Co. p.2]
So, management doesn't factor in a whole lot of ODM business but nevertheless increased expectations for this year and the next (see above), a sure sign that they expect the disappointing wholesales ex-ODM to be a one-off. What's more, because margins on ODM are at least twice compared to wholesale, if they become a trend, that would be a huge positive for the stock.
We conclude: the market seems to think that the disappointing wholesales ex-ODM was permanent and the positive ODM surprise a one-off, but it's much more likely to be exactly the other way around.
4) Retail business disappointed in Q3
One important plank of the strategy towards accelerating growth and margins is to grow a retail business, which carries much higher margins compared to their traditional wholesale business.
Retail sales of $9.7 million fell short of our $12.7 million estimate, due to delays in new store/counter openings. Net new counter openings were eight, compared with our estimate of 15, due in part to delays associated with preparations for the Golden Week. A higher percentage of retail sales were from gold (rather than higher-margin platinum or studded jewelry), which drove a lower-than-expected retail gross margin of 22.6%, below our 34% estimate. Management maintained its full-year guidance of 95-100 new store openings and also expects product mix shift in the fourth quarter to higher-margin products. [William Blair & Co. p.2]
Retail margins below expectations. Retail margins of 22.6% came in below our 31.5% estimate and the 38.0% margin last year. Management attributed this to product mix with more lower-margin platinum products (investing) instead of gold/gemstone products (gift-giving). We expect margins to rebound in 4Q with more gift-giving holidays vs. none in 3Q. [Merriman, Curhan and Ford]
So there were some reasons for last quarter disappointments in retail, but both management and Merriman expect things to pick up in this quarter. As we've already shown above, management expects retail to grow at least 50% next year, due to an aggressive expansion.
The Retail business is making good progress. Currently, FUQI has 72 retail counters. The company plans to have a total of 95-100 retail locations by the end of 2009 and additional 80-100 retail locations in 2010. [Wisco Research p.2]
5) Gold price
Unexpected volatility and price declines in gold and platinum spot prices could negatively impact Fuqi’s financial performance. Fuqi’s sales are positively correlated to gold spot market prices, suggesting rising gold prices benefit Fuqi by driving higher revenues. During periods of rising inflation, demand for gold and gold jewelry increases as consumers seek to preserve value of their savings. Meanwhile, as Fuqi employs FIFO method of accounting to record its COGS, a rise in the price of gold has resulted in margin expansions, as we have seen during 1H09. The company estimated the recent gold price increase contributed 1.5-2.5 percentage points to gross margins. Conversely, if spot prices fall, Fuqi’s revenue growth and margin expansion could slow or even decline. [Oppenheimer]
While there has been a pullback in gold prices in the last two weeks, these are still considerably higher than a year ago. Unless one expects gold to crash, this should still be considered a net positive.
Conclusions
We really have a hard time interpreting all this as a negative, therefore. So let us conclude:
For a company that's rapidly expanding and having to purchase raw material at ever higher prices, it's not a serious problem having negative cash flow.
Wholesales disappointed in Q3, but that was a one-off. This is both explained by the forces that produced the disappointment (forced closure because of holidays) as well as management upping expectations for Q4.
The ODM business that produced a huge positive earnings surprise could very well be a more permanent feature. Because it's high margin nature, this could add a significant new driver, we really cannot understand those who argue the ODM business is a negative. At the minimum, it was a one-off and wholesale growth returns to trend. More likely, ODM keeps adding more to the bottom line.
The same reasons that produced the one-off disappointing wholesales were partly responsible for the disappointing retail margins as well (as was the product mix). However, management and analysts are pretty convinced this will be (more than) remedied in Q4 and next year.
We think that the sell-off from the 30s to the high teens is way overdone. We can't see them going much lower (barring any major disasters) and the risk-reward situation seems very favourable to us. When the next earnings report comes closer, we expect these shares to start rallying. But this could happen sooner rather than later.
Not much action or information to date. I guess the wheels of progress grind slowly.
My TD Ameritrade shares are still confused as well. The 200:1 reverse split is showing up in the share price, but not in the number of shares in the account.
The only info I've seen is on Pinksheets... now OTCmarkets.com which acknowledges the reverse and the name change.
COME ON... we want more information.
P.S. it shows outstanding shares at 247K Now if they only issued 3-5 Million for the acquisition, we could have us an ultimate low floater where the stock price can be moved at will. We shall see.
RKCMO
If this issue starts trading.... as it will in the next couple days... so far no quotes or market makers... but all in good time....
Remember MM have to give 5000 shares if the share quote is below 51 cents and 2500 if between 51 and 1.00. As there's basically no shares in the public float we could see some pretty serious fluxuations if buying comes into the market.
As Enucleus came through bankruptcy the posted some of the financials of EC Development and they looked pretty good. Over a Million in revenue with net income in 2009 and they equalled the revenue and improved the net income in the first three months of 2010.
I'm anxious to learn more.
Oh... for what it's worth....
my TD Ameritrade is quoting the stock price at 20 cents...which seriously fattens my portfolio value...
BUT... doesn't yet reflect the reverse split...but did multiply the share price by 200 times. How fun it would be if it were true.
Well... it seems as though we have some progress being made. The company has affected the reverse merger and reverse split.
Looks pretty exciting this morning. I have some $8 calls and am loving it!
Looks pretty exciting this morning. I have some $8 calls and am loving it!
Hi Geo... just wondering where you found this press release and if there's been any hint that we'll be hearing something anything soon.
Regards,
Randy
Well, that .044 trade before the close makes my position look a lot better.
Go DNRR.
I've been thinking about pulling together a few of the implications of some of the recent news...and when I saw that the next post available was #1000... I decided to take the time and put a few thoughts on paper. I've taken the liberty of making it a sticky note. I hope to edit it as things continue to progress.
In the past, I've tried to be of service to the various boards I've moderated to keep a running list of Pros and Cons. While from my perspective the "Pros" were enough to interest me in the company and most likely invest in it, I don't believe that sticking one's head in the sand about potential weakness and "dangers" makes much sense either.
So, If you have some elements that you like about the company and its future (even if you think there is just some trading opportunities), let's hear about it them.
If you think the company stinks and is merely a pump and dump, lets hear that too. The truth is, each of us could be wrong and the weighing the pluses and minuses is probably the most prudent thing to do.
I've been sincerely wrong in the past, and wouldn't put myself past being wrong again..... But I've also been right and done quite well on some of the companies I've invested in. You just never know 100% the time.
Let's see what DNRR going to become.
Regards,
Randy
DNRR appears to have a future. Over the last few months, since DNRR has come onto my radar screen, I've been wavering between hopeful and skeptical.
I've spoken to some of the folks involved with the company and they seem to have a pretty workable business plan, but they've been fairly slow about executing.
Here's what I like about Denarii Resources:
1. Ambitious plans. If you talk to any of the persons involved, from management to their geologists, they have high hopes and big plans. The plan here is not to bilk a public company (merely a shell) for spending money, there really seems a desire to acquire assets and progress to operations.
2. Industry Connections. From the first PDF which told of their aspirations, down in South America, the Lota Bay Coal Concession to the recent announcement of the acquisition of 80% Touchstone Precious Metals Inc. assets. These sort of relationships are don't fall from the sky, they come about because of who know who and who knows what.
3. Detailed Financial Planning This is the one I was most skeptical of. Could they actually put the funding together to carry out the acquisitions they were hoping to acquire.
NOTE #1. The plan to utilize the Gold Loans from the German company to acquire gold producing properties and pay them back with bullion you're taking out of the ground is huge. Why? They will be basically be dilution free acquisitions. We use their money to acquire real property, we pay back loans with bullion from our mines...once mines are paid off, we own them free and clear.
NOTE #2 The recent 8-K Filing details the terms for acquiring the Touchstone Property. I love how the payments are set and that they are spread out over the next couple years. Dilution will be limited because funding will take place at whatever price the stock is subsequently trading at. As we acquire properties and bring them into production, the value of the company should increase, and subsequently, so should the share price.
As someone said, it still sounds like to too good a deal. This being said, I am leaning toward hopeful.
Milestones.... to watch for:
1. Successful placement and transfer to the company of private placement funds. We can well suppose that if Struans Group
is putting their money where their mouth is, we as investors are in fairly good position to benefit from their cash infusion to the company.
2. The making of scheduled payments for mining asset acquisitions.
3. Progress toward actually putting some of these mines into production.
4. And eventually, actually developing some income and cash flow.
IBOX Update Later today. Thanks D
If only a person would know in advance when these sorts of moves are going to take place. Looking very good and quite a nice shade of green.
Profitscout... welcome as a DNRR Assistant.
Things are looking good this afternoon. Hopefully, the spike in share price is an anticipation of some additional news.
GO DNRR!!
I've not been listening or paying attention here for months. Has anyone heard anything. e...no e? What's the difference if company is being liquidated?
Just checked back on www.freecourtdockets.com for the ENUIQ bankruptcy proceedings and the plan for reorganization was signed by the judge... so it is a done deal.
The stock has seen a little action since last week...stock was bidding as high as .006, but it hasn't traded above .005.
Now I guess we wait some more... now for more information about EC Development.
They have a website.... but it's not much:
http://www.ecdevonline.com/
I'm assuming as they become a public company and start filing financials, they will probably update it with a new and improved one. We shall see.
Regards,
Randy
Stock Starting to Trade up...
I've had some conversations with management and they've been befuddled over the way the stock traded down during the previous promotion.
He said progress is being made with the business plan and that they were hoping to see things turn in a positive direction.
We'll see.
If there's any news pre-market I think we open seriously higher....
What could the news be? Well, if you check out the PRs from last Fall, there were numerous mines in the acquisition pipeline. If we could actually see one of these close, it would substantiate the DNRR's business plan and lay the ground work for bigger and better things ahead.
The acquisition of these mines were supposed to be Gold loans... that is up to $30 Million in dollars available to make acquisitions and the money would be paid back in gold bullion. The beauty of this, if they can pull it off, is that all such acquisitions would be basically dilution free.
I'm hoping this volume and price increase is just a foretaste of things to come. As I own this stock at a modestly higher price, I'm hoping we see continued movement in the coming week.
What seems to make sense is that the spike in volume and price is in anticipation of some news or events anticipated for next week. While this isn't always the case... increased volume and price is almost by definition a good thing.
At the moment I'm cautiously optimistic.
Hey Cargohauler.... I just checked back to see how my ROBK nobrainer pick was going... and bingo... you had already listed it as CONFIRMED.
I am really quite hopeful that it is even a nobrainer at this point. There are multiple casino management and development contracts in process that virtually guarantee this stock is going to be successful over the long term.
Also check out my little eNucleus stock... latest information in posted on board. Reverse merger with EC Development.
Remember ... as part of the reorganization common shareholders will be reversed 200:1... which means to get the post merger valuation... the current share price will need to be multiplied 200 times....
Or roughly.... quoted as it's being bid at .006 and offered at .008....
Post reverse it would be bidding $1.20 to $1.60.