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My guess is that there has to be some people out there who have bought alot of shares early on that know Dr. Leatt personally. It's been awhile and they aren't seeing a return. He's making millions, and they're starting to get mad. There has been some big trades of 100,000 or more over the last few years. If that's an individual or group, they could put his feet to the fire. No business owner with integrity lets his business lose a couple hundred grand while paying himself what he does, plus collect his commission on the sales to boot. If I owned 100,000 shares or more of this company I'd be looking for a way to boot the guy. Pay him his commission. Other than that, tell him to stay home.
Nexpert,
You're exactly right in regards to Leatt. I own about 25,000 shares, and I wish I owned zero. It'll never go anywhere because Leatt Corporation isn't worth anything, and doesn't own anything. Dr. Leatt is making a pile, and he doesn't really care if the stock moves. The only option we have is if someone who owned 500,000 shares or more starts a shareholder lawsuit for lack of fiduciary duty. Basically it's a dead horse, don't buy any of this junk stock.
You'll love this.
I called the IR guy today and asked him what they're trying to sell to the Federal Government. I almost started laughing when he told me they're going to try to sell them to the government, to make sure people aren't hurt on the base's riding motorcycles.
I replied, "why would they waste energy on such a small group of people when their target industry is so unaware and uneducated about their products?" Leatt still doesn't even have a good presence at motorcycle dealerships. Complete lack of focus.
The guys running this company are f______ing idiots.
Bad numbers are coming. As soon as a company pulls the old "we're going to try to sell this to the government", trouble is around the corner.
I see there's some recent news about promoting the products of Leatt Corporation.
The timing of this means their final year numbers are horrible.
Watch and see. It's time for Dr. Leatt to sell with someone who has the money, and ability to sell the products they currently have.
I bet he made some cash in 2009.
Not much for news lately.
I'm sure they'll blame the next crappy quarter on the economy. Meanwhile sixsixone comes out with another copy. Their market continues to get picked apart. Oh well, Dr. Leatt is making some cash with his commission part of the agreement.
That is some exciting news. He has a track record of success. Hopefully he can put them on a path that goes in the right direction.......
http://www.motosport.com/dirtbike/product/ALPINESTARS-BIONIC-NECK-SUPPORT-SB/?psreferrer=http%253A%252F%252Fwww.racerxonline.com%252F%253F&catalogId=115617
Go to this link!!!!!!!!
The freight train is about to run this company over. Just because you have a superior product, doesn't mean you'll win. Especially if nobody knows it exists.
Arrogance and incompetence leads to failure.
Regardless of economic conditions, a high growth company that shows a loss in the early stages, says you're on the wrong track. Also, ask why there's so many shares, why don't they do a reverse stock split to raise shareholder value. I'd love to hear their answer to that.
Ask these at the shareholder meeting.
This stock will never rech $1.00 per share. Never.
He owns so many shares, he'd sell it all for 40 cents. If someone would actually buy all his shares.
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:
You said it all my friend. It all really is this simple.
Whenever the owner of a company, that is publicly traded, sucks out as much money for himself as the company makes, you've got a serious problem and conflict.
By the way, is anyone going to ask about his fraud conviction at the shareholder meeting? We've all been curious to the details of this.
VegasTony,
That's just it. You obviously don't get it either.
I personally own and wear a Leatt brace. I won't even ride my trials bike without it. I go racing every weekend, motocross, hillclimbs, flattrack. I've tried on the EVS and it's the most inferior product I've ever seen.
But, it's on the showfloor of every dealership because they have promotion, distribution, and name recognition.
I personally called Leatt's public relations, received a phone call, and gave them the owners name of Parts Unlimited to try to get them an appointment to get their products sold in their catalogs. I used to buy alot of stuff from the owners original store in Janesville, WI. If you knew anything about powersports, you would know that if you aren't in a Parts Unlimited or Tucker Rocky catalog in the United States, you're doomed.
Leatt is relying on "word of mouth".
I'd bet you don't race, or go to many races.
How much promotion and name recognition could we get for half of what this guy is sucking out of this company?
I have a small business I started a little over a year ago. We work with powersports dealers in the upper midwest. Last month we generated $70,000 in revenue with a little over $45,000 in expenses. Do you know how much I personally paid myself?
Five grand. Everything else goes back into the company.
This guy makes more himself than the company as a whole.
The guy is an idiot. Well, maybe we were idiots for buying his stock.
I was at the AMA Amatuer Hillclimb this weekend in New Ulm, Minnesota. I counted four times as many EVS braces as I did Leatt Braces. I asked several people why they didn't have a Leatt Brace, and they told me there wasn't any difference.
Obviously, there's a huge difference. EVS has management.
Hey charms,
You should show up wearing an EVS brace. That would be classic.
Charms, wish I could be there with you.
Honestly though, when you look at what that guy is sucking out of the company, wow. I am anxious to hear if you get to ask any of the questions we want answered.
I just voted my proxy online. Voted no on Dr. Leatt.
Dude, don't buy anymore of this stock until alot of things get cleared up. I own some myself, bought it cheap. But, until this company gets their you know what together, it's going to be a write-off.
If you're going to the meeting ask:
1. Why are we voting on approval of a CEO who has been convicted of fraud in South Africa?
2. Why does the CEO personally make more than the company?
3. Why isn't there an interactive live webcast if this is a company looking to improve shareholder value?
4. Why does a company have 110 million shares only trading at four cents? With no debt? Do a reverse stock split.
5. Has anybody been to a race lately? Those inferior EVS braces outnumber our braces. Why? Because people see them in the showroom of every dealership in the country. We rely on word of mouth. Boy, that's intelligent.
6. Why haven't we found a way to incorporate this with chest protectors for football?
A great inventor is usaually a shitty businessman!
Are you kidding me! I don't know if any of you actually race motocross, but you are starting to see more and more evs braces at the racetrack each and every week. They are losing some ground to an inferior product because of the distribution channel. Most people buying a brace really don't understand the differences between the two. EVS braces are on display at most dealerships. The leatt isn't.
Twenty more days until the middle of April. Anybody want to place bets on whether we'll see 08 numbers by the end of the fourth quarter of 09?
It's the middle of March. I really hope they have some 08 numbers in the next 3 to 4 weeks. If they're incomplete in any fashion, I think we're on a horse with a sway back.
Gentleman,
I think we can all agree this thing is either going to nothing, or it's going to be the homerun of a lifetime.
Leatt would greatly increase their exposure if they were selling their products in Parts Unlimited catalogs, or Tucker Rocky. When you order from local dealerships, that's what they order from.
p.s. Parts Unlimited is owned by Alpinestars.
Agreed, they probably can be a little bold right now. Wonderful product.
The large number of shares is going to be a problem they'll have to cure in the future also.
If you simply take the total yearly revenue, divided by the number of shares, you get concerned when you compare it to just about any other company. Start comparing them to Nike, Arctic Cat etc.
I hope they win the fight in the marketplace. I'm optimistic that they will. I just wish they would have pushed their case with Alpinestars. It was obviously getting expensive, but in a tight market, which our product is in, you can either buy the competition or bury them. Hope we bury them.
If the end of April comes around, and there's still no release of the financials, I'm going to send a complaint to the SEC. Probably won't matter.
Joke is a strong word. Crooked is better.
As a shareholder of the company, we will see some profits, but nowhere what we should. I think the reason they're holding back the numbers, is because they're very good. Remember this is company with no debt and ridiculous cash flows. Dr. Leatt is the only one who is going to get really rich on this deal.
He owns the rights to the patent, just like you said.
If you read the financials from last year very close, it will concern you.
Why do I think they're going to take it private? Several reasons.
1. Why would an upstart company, with no debt, huge sales increase, 80% of stock owned by insiders, allow it's stock to sell for .05 per share. With no volume to speak of.
2. Year to date they have yet to even release sales figures.
3. Look at the number of authorized shares that could be put into circulation, if the company became cash strapped. They obviously aren't, but was a concern when the company first started.
4. Way too many shares, way too many. Why wouldn't they just do a reverse stock split 5/1 to raise the share price?
I am a shareholder like many of you posting here. I for one, hope they spend whatever it takes to protect their patents. If anyone can put out a direct copy, without getting punished, Leatt would see everything go away.
Secondly, this company isn't releasing the information we are looking for because they're going to take it private. Extremely obvious to me.
If there's no information relayed to current shareholders by Feb. 1, 2009, a guy would start to get nervous. They're looking to increase the share of their company, right? Wouldn't common sense tell you they would be sharing how many braces they have been selling?
I've talked to their IR person several times in the past month. He's telling me the numbers for 08 are supposed to be released by the middle of January. The company makes a pile of money, and has no debt to speak of. My guess why they aren't releasing the numbers is because they're very good. Leatt has become a company where the owners are wishing they had never taken it public. They're probably negotiating selling to someone, maybe a hedge fund or someone else in the industry. The common shareholders will probably make some money, but not the amount they should. The owners will walk away with a much sweeter package, and Dr. Leatt will get his 5% royalty fee to whoever purchases it. Bad deal.
Leatt needs to put a lid on people stealing their patents and ideas. Every employee should be signing non-compete's, confidentiality agreements, with stiff penalties. They should not have stopped the lawsuit with Alpinestars either.
In business, fight or you're going to get run over. They need to have someone pay a stiff monetary penalty, so people will stop trying to copy them.
Wouldn't you think they would at least post what their number of units sold year to date are ? Makes no sense when your stock is $.06
Has anybody heard the reasoning behind no financials for 2008 ?
RE: no quarterly numbers is concerning. 70% of this stock is owned by insiders according to their PR firm. We all know this company is a cash cow, so why not release those numbers ? Well, they could sell the company for $1 per share to a hedge fund, and all of the insiders make a fortune. Meanwhile we get an average return that should be a homerun.
Also, Dr. Leatt will get to keep his 5% commission on all braces sold in the future, plus a dollar per share for all that he owns.
Why would you pay the guy who heads your Public Relations in stock options, when you have the kind of cash flow this company does ? Definitely lacks business integrity.