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There we go. Thanks Raw. At least I can keep track properly now.
XPLT closing right at 52 week and multi year highs. Where is our announcer??
FWIW, I had a poor experience with Cemtrex's management decisions of what to PR and what was withheld from investors a couple years ago. If I remember correctly, they announced a $10-12 mil contract that never came through and never announced that it didn't work out. Investors stayed on the hook for several quarters thinking 'this is the quarter when all that revenue hits'. Saagar finally admitted it to me on the phone in so many words. It was a lesson to me to be more skeptical of contract and deal announcements and watch carefully if the subsequent revenue actually shows up when expected. I would never trust this management and at best consider a trade...not an investment...
nice call.
I was going to request that you please use your other alias when quoting 52 week highs, fresh multi year highs, etc. Im glad your corrected this is subsequent posts .It is much easier to follow your multiple personalities if you organize them properly.
Indeed. I have been in for quite a while with a cost basis around.85, but have added to that under $3 in the last few months. The chart is one of those steady climbs. This leg up should go a while.
I'm only in because it is sickening to not be in and have to read 50 new posts a day about 'fresh new high'...blah, blah, blah from a certain mod here.
PFHO. Was looking at the chart. Incredible august to august move last year. ...I'm in for the first time at $30.25 average.
SSOL reverse spilt 20:1.
Agreed.
that is correct.
stop bragging about yourself.
SSOL pump.
I bought what i could...i redeployed what i sold of IBTGF and some of my XX.V. I still like both companies but believe that PFHO stock will move quicker with faster growth and current valuation.
Much clearer now. Glad I asked.
NewMoney doesn't have any friends that would go to dinner with him. I am confused... who ate the other steak?
Drinking math is way better. He saved $5 bucks even with the tip. So, maybe he gets another drink.
SSK. KINS. Is your sentiment and outlook steady, considering Feinsod has a pile of shares that hopefully he is not pissed off enough to sell...
I think your timing will be proved excellent. I have owned it for a couple quarters near the same price as it is now. The next two quarters should get people back interested. It has been in the woodshed, and is now a 'show me' stock.
I suspected, but am generally stupid.
For those of us who haven't been around as long...What's the deal with Mr. Sheep? I never quite understood if he is real or not. Due to my ignorance, mocking this post is allowed...if not encouraged.
SSOL. Did you do any more checking on this one? Sure looks interesting. Chinese owner and supply is always worrisome. Revenues definitely jumped quite a bit and aren't far from cfp, and could really launch if these contracts are real. The failed buyout had to happen for reasons that should be paid attention to. Plus they have a $2M inventory expansion plan that isn't funded...
Indeed. Rip. Saw him twice...it was really cool to watch a legend.
PKT.V/ PKTEF. I doubled my position this week.
http://seekingalpha.com/article/3120476-parkit-enterprise-jv-catalyst-achieved-market-missing-forest-for-trees
You should go with, 'I made it up while drunk'.
since we are playing guess the alias...Raw Knocks? Kinda like Annie...hard knock life?
Been here for years, and now you're getting personal? 'G' is the initial and nickname of my son. As in G-dog, G Money, G is the man...
PKT./PKTEF This should move the needle.
Parkit Announces Joint Venture
Ticker Symbol: U:PKTEF C:PKT
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/22/15
Media tag removedMedia tag removed
Parkit Enterprise Inc. ("Parkit," or "the Company") (TSX VENTURE: PKT)(OTCQX: PKTEF) is pleased to announce the formation of a joint venture investment vehicle ("the joint venture") that will seek to acquire and aggregate up to approximately $500 million in income-producing parking assets.
Parkit's equity partner in the joint venture is an affiliate of Och-Ziff Real Estate, a real estate private equity firm based in the United States (the "equity partner").
Parkit, along with PRE LLC., an entity whose members are senior officers of Propark America ("Propark"), will be both an asset manager and an investor alongside the equity partner. As such, management will, in accordance with the governing documents of the joint venture, source and assess potential investment opportunities and otherwise administer the joint venture's operations, including underwriting, acquisitions and property management of the joint venture's portfolio.
The joint venture will seek to deploy its capital resources within a three to five year period, and optimize cash flows through the implementation of leading technology and industry best practices. Ultimately, Parkit will realize premium value through the aggregation and opportunistic sale of the portfolio and could subsequently have the opportunity to reinvest proceeds in future acquisitions.
The joint venture has acquired six assets for a total of $82.6 million, assuming the full payment of all associated conditional earn-outs. These assets generated a total of approximately $6.5 million in net operating income during 2014. The initial property portfolio includes two assets in which Parkit held equity; Canopy Airport Parking Facility ("Canopy"), which services Denver International Airport, and Expresso Airport Parking ("Expresso"), which services Oakland International Airport. Subject to a conditional partial earn-out over two years and at disposition, Canopy will be acquired for total consideration of $38.0 million, while Expresso has been acquired for $19.2 million.
The other parking facilities within the initial transaction property portfolio include:
-- 'Chapel Square,' located in New Haven, Connecticut (Commercial/business
district)
-- 'Terra Park,' located in Jacksonville, Florida (Commercial/business
district)
-- 'Riccio Lot,' located in New Haven, Connecticut (University and medical
facility)
-- 'Z Parking,' located in East Granby, Connecticut (Bradley International
Airport)
Parkit now holds an equity position in the joint venture of approximately 22% with $6.2 million invested. The conditional earn-outs, if paid, would result in an additional pro-rata investment of $1.8 million over two years increasing the total amount invested from the portfolio equity to $8.0 million.
Additionally, Parkit received $6.7 million in cash proceeds and, to the extent actually paid, would receive a further estimated $1.6 million from the conditional earn-outs, as well as an estimated $1.2 million conditional cash earn-out at disposition of the assets. A portion of the foregoing amounts will be used to repay in full the $5.0 million bridge loan due in August 2015.
Parkit will provide 5% of the equity component of future acquisitions, and as such has minimal cash commitments to fulfill obligations of the joint venture's growth. Asset-based, non-recourse leverage in the initial transaction portfolio is approximately 54%, assuming full payment of the conditional earn-outs, and is expected to average approximately 70% in subsequent acquisitions.
In addition to receiving earnings from equity contributions, Parkit will also generate income from asset management fees and, to the extent earned, acquisition fees, which will be split equally between the two managing entities which includes Propark. Parking Real Estate Investors, LLC, a related entity whose members are senior officers in Propark, is also an investor in the joint venture.
The joint venture also provides for performance-based incentives once the joint venture has achieved certain IRR hurdles.
The joint venture intends to employ Propark to oversee the day-to-day operations of its facilities. Currently, property management of all six initial properties is conducted by affiliates of Propark.
"Today's announcement represents a transformative transaction for Parkit, validating our strategic evolution into a specialized asset manager," stated Rick Baxter, the Company's Chief Executive Officer. "This joint venture not only crystalizes the value of Parkit's existing investments, but also establishes a profitable foundation for our long-term development. Furthermore, the exploration for quality acquisitions in the US will increase our exposure to direct investment opportunities for Parkit, and significantly enhance our potential for growth."
(Note: all currencies are in USD)
ABOUT PARKIT
Parkit Enterprise Inc. is engaged in the acquisition, optimization, and asset management of income-producing parking facilities across the United States.
Twitter: twitter.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. In particular, there is no assurance the joint venture will acquire aggregate assets of $500 million; that the Company will realize any or all of the earn-outs from its existing parking assets; or that the joint venture will be profitable.
Contacts:
Parkit Enterprise Inc.
Rick Baxter
(604) 424-8707
rick@parkitenterprise.com
www.parkitenterprise.com
update.
sold Muel on declining earnings.
added WFCF Mcdonalds did sign up and running trial in Canada
added IVFH cleared 3 million from unhappy investor Q3,Q4 should start to prove this.
MNDL, now APPS. ramp of sales is starting.
IBTGF my favorite idea to watch progress. New product line in development.
PKTEF huge news today.
Thanks for all the work you put into the contest. Congrats to the high returners. I hope real accounts did as well. I'm glad the next one is longer in duration as time usually help iron out the differences between traders and longer term investors. Looking forward to it.
There's a little purple pill for that.
Did you know that NewMoney and EasyMoney are the same person?
Who are you? Everyone knows SKILLZ1 is in charge of picks here.
Get a room. Brig's gonna be jealous.
That's two hugs. He's just being polite. No one wants to kiss you.
I like and own some XX.V.
So now they have illegal harvesting and high formaldehyde and insider trading... The insider trading could have a pretty long time frame, as I am guessing there were an increasing trickle of complaints starting a while back, growing into the 60 minutes expose...where are you planning to short to? There has to be a bunch of cash value and other assets to value.. I have no position, but am watching closely to learn how these debacles play out.
Good idea. I'm gonna try vodka. When this takes off, the stock will rebound.