Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
How would they fund buying back shares?
WSJ: The Next Big Bet in Fracking: Water
Investors sense opportunity in companies that handle drilling wastewater
"These companies are building pipelines to transport the wastewater and dispose of it deep underground, hoping to displace the trucks that currently do the job. Some companies have a longer-term plan: recycling the wastewater to sell it back to drillers to reuse."
Can the MNGA process clean fracked waste water? Is this an opportunity for MNGA?
Not disagreeing with you!
Just pointing out that there is an explanation of the spending in the MD&A section of the 10Q.
Operating Expenses From MDA in 10Q
Operating costs for the three months ended March 31, 2018 and 2017 were $3,314,357 and $2,873,345, respectively. The increase in our operating costs in 2018 was primarily attributable to the completion of our two acquisitions in January and February 2018 and significant capital markets activity during the period. The Company spent $547,810 on consulting related to three acquisitions, including the acquisition of Trico Welding Supplies, Inc. which closed April 2, 2018. The Company also recognized significant non-recurring charges related to integration of these acquisitions. The Company incurred $56,383 in computer and IT integration activities. Travel expenses were also significantly higher due to ongoing personnel training, integration and other non-recurring activities. During the three months ended March 31, 2018 we recognized a non-cash charge of $105,075 in stock-based compensation for employees, compared to $102,905 in the comparable three months ended March 31, 2017, common stock issued for services of $413,450 for the three months ended March 31, 2018, compared to $326,349 in the comparable three months ended March 31, 2017. Other non-cash operating expenses were due to depreciation and amortization charges of $159,211 for the three-month period ended March 31, 2018, compared to $167,338 for the three months ended March 31, 2017.
In the current quarter, as in prior quarters, we selectively used common stock as a method of payment for certain services, primarily the advertising and promotion of the technology to increase investor and customer awareness and as incentive to its key employees and consultants. We expect to continue these arrangements, though due to a stronger operating position, this method of payment may become limited to employees.
Death Spiral Stock....
As we approach sub $1 another RS is a real possibility.
The extra crispy chicken is real good too!
Neither is common ownership in the two companies.
I agree. Smells fishy!
Carla continues to sell shares as the price craters.
RS and the price drops! No real substantial new news. Poor financials. And all along Carla is selling. Why haven't the authorities stepped in? Thank goodness I got out 2 RS's ago.
What are you hearing? Who would buy?
Sadly, I suspect you will be right.
That takes money. Where do they get the money without dilution?
"Given the growing demand for MagneGas2, which has created a substantial backlog, we’ve signed the letter of intent to purchase 2,000 additional fuel cylinders."
Unfortunately the 10K business description did not disclose the $ amount of this backlog. If there is significant backlog
Reg S-X requires disclosure. Disappointing!
[§ 229.101 (Item 101) Description of business. "The dollar amount of backlog orders believed to be firm, as of a recent date and as of a comparable date in the preceding fiscal year, together with an indication of the portion thereof not reasonably expected to be filled within the current fiscal year, and seasonal or other material aspects of the backlog."]
MagneGas Schedules 2016 Year-End Earnings Conference Call
Call to be held on Monday, April 3rd at 4:00 p.m. Eastern Time
http://ir.stockpr.com/magnegas/press-releases/detail/2555
They can file for a 10 day extension on Form 12b-25.
Yep, that's the reg, Reg FD specifically. No selective disclosure allowed.
So what happened to the acquisition of a coco company with $14+ million in revenue that was to have closed on or about January 31, 2017?
http://ir.stockpr.com/magnegas/press-releases/detail/2540/magnegas-signs-letter-of-intent-to-purchase-coal-combustion
IMO investors are waiting for news about the status of the acquisition LOI announced last November. It was a provocative PR that should be updated.
MagneGas Corporation (NASDAQ:MNGA)‘s stock had its “buy” rating reissued by Rodman & Renshaw in a research note issued on Saturday. They presently have a $3.00 price objective on the stock.
http://dailyquint.com/2017-02-16-magnegas-corporation-mnga-rating-reiterated-by-rodman-renshaw/
A potential buyer is possibly in that list. It is a matter of selling the attributes MNGA can offer.
Agree, Waste Management would be great!
I wonder if MNGA would even be on their radar.
Why Big Oil?
Maybe, but I don't see a fit with Big Oil. It is more likely that a waste management company or a reclamation company would be an acquirer.
I hear ya! Thx.
On or About Jan 31, 2017
I guess I do not have the patience you have. The original PR had a quite provocative headline:
MagneGas Signs Letter of Intent to Purchase Coal Combustion Technology Company with 2015 Revenue In Excess of $14 Million
MNGA got my attention with that PR. Is the deal moving toward a definitive agreement, or not? Is MNGA going to be a much larger company post acquisition, or not? My past experience as a senior financial executive with a mid tier public company that acquired over 30 companies during my 10 year tenure is telling me that MNGA should put out a press release telling shareholders the status 10 days into Feb 2017 and now well past the anticipated deadline.
There is no requirement for an 8K for an LOI update but an update as to the new anticipated closing date would be very important information that investors need. I love the company's prospects but I get nervous when there is no information on a pending large deal.
Just sayin.....
They have a duty to disclose if the LOI fell apart or provide an update to the new close date. It is now 10 days past the announced deadline. Is Feb 9 still "on or about January 31, 2017" Any good lawyer would have had them file an 8K by now updating the status. IMO CO2 and Investor conference are just fluff PR. The only consistency is that Carla continues to sell. Oh Yay!
Agree, unless they use newly issued shares to acquire a company that is accretive to EPS. Then it is a win, win.
In this regard, any news on the closing of the acquisition transaction, supposed to close by Jan 31?
Not Dilutive Until Shares are Issued
The Series C Preferred has a conversion price of $1.45. I have not found any reference yet to the certificate of designation for Blank Check Preferred so I believe that the conversion price is not yet known for the Blank Check stock. But I could have missed it. Your help is appreciated.
Yes
Blank check preferred stock refers to the issuance of a class of preferred shares where the board of directors has authority determining voting rights, dividends, and conversion without separate shareholder approval. In my view, the board will set the conversion price when they feel the need to exercise this poison pill, most likely in a hostile takeover (if and when this happens).
Blank check preferred stock refers to the issuance of a class of preferred shares where the board of directors has authority determining voting rights, dividends, and conversion without separate shareholder approval. In my view, the board will set the conversion price when they feel the need to exercise this poison pill, most likely in a hostile takeover (if and when this happens).
Agree it is a Poison Pill
8K Nothing to do with review governance policies.
Per the 8K
"The Amendment created “blank check” preferred stock..."
IMO Possible Shakedown to get payment out of D&O Liability Insurance coverage. Typical tactic of the plaintiff's lawyers. Find out the amount the D&O coverage, file class action suit in the name of the shareholders, settle the suit and collect their fees out of the D&O settlement. Shareholders get pennies! There ought to be a law!!!!
Rodman & Renshaw reaffirmed their buy rating on shares of MagneGas Corporation (NASDAQ:MNGA) in a research report released on Saturday. They currently have a $3.00 price target on the stock.
Separately, Zacks Investment Research raised shares of MagneGas Corporation from a sell rating to a hold rating in a research report on Wednesday, December 14th.
See article at
http://dailyquint.com/2017-01-29-magnegas-corporations-mnga-buy-rating-reiterated-at-rodman-renshaw/
Closes by end of January
From PR http://ir.stockpr.com/magnegas/press-releases/detail/2540/magnegas-signs-letter-of-intent-to-purchase-coal-combustion
"It is anticipated that the transaction will close on or about January 31, 2017."
They can start counting revenue from that point forward. They cannot go back except in the Pro Forma's. It will be interesting to see the pro forma income statement to see what the business would have looked like had the always been combined.
Rodman & Renshaw Reiterates Bullish View on Magnegas (MNGA) Amid German Purchase Agreement
http://www.streetinsider.com/Analyst+Comments/Rodman+%26+Renshaw+Reiterates+Bullish+View+on+Magnegas+(MNGA)+Amid+German+Purchase+Agreement/12397105.html
Blue Calypso to Explore Strategic Alternatives
http://www.econotimes.com/Blue-Calypso-to-Explore-Strategic-Alternatives-459946
Tuesday, December 20, 2016 1:31 PM UTC
DALLAS, Dec. 20, 2016 -- Blue Calypso, Inc. (OTCQB:BCYP), an innovator of mobile consumer activation, engagement and social advocacy solutions for product brands and brick-and-mortar retailers, has commenced a strategic and financial review with the objective to increase shareholder value. This review may result in the Company continuing to pursue value-enhancing initiatives as a standalone company, capital structure optimization, equity financing, secured or unsecured debt financing, a sale of the Company, a sale of certain assets of the Company or other business combination transaction. The Company’s board of directors will be active in this process as will their legal counsel and other outside experts and advisors.
Blue Calypso has not set a timetable for completion of its strategic review process but intends to update its shareholders as it deems necessary if any material developments occur. Blue Calypso provides no assurance, however, that the strategic review process will result in any transaction.
“The board of directors is committed to increasing shareholder value,” said Blue Calypso CEO, Andrew Levi. “We have determined after careful consideration that this is an appropriate time to undertake a strategic and financial review of the business. In the most recent quarter, we aggressively reduced our monthly expenses which included significant cuts in sales, marketing, legal, public & investor relations expenses and a reduction in executive compensation. While the review is ongoing, the Company will remain focused on delivering improved financial performance by continuing to execute our strategic initiatives.”
Bill Gates and investors worth $170 billion are launching a fund to fight climate change through energy innovation
http://qz.com/859860/bill-gates-is-leading-a-new-1-billion-fund-focused-on-combatting-climate-change-through-innovation/
MNGA execs need to get in front of this group.