Report delayed; to be reported Jan 16. Auditor probably lost in the outback

Yep nothing on their website nor any PR. Typical Alloy. The posted report is poorly written but that seems consistent with its likely author who didn't seem interested in his job when I spoke with him.
Apparently, Indonesia no longer exists. They haven't mentioned anything about it in a long time. Sorry for those who bought into a nice looking chart

The resumption of regular quarterly earnings releases. They put out a PR saying they have suspended their issuance. Their secretary said they will resume but yet no PR announcing that material fact and no PR with an actual quarterly.

I would call. I emailed many times and received no response. It took many calls, but I was able to speak to the secretary at least. Too bad none of his answers turned out to be true.

I would be interested in hearing about their Indonesian developments. They've been silent on this for a long time.

I'm sure they're scrambling for a new game plan so good luck getting any info

I wish you all good luck

I have finally sold the remainder of my shares -- a position held since 2009. I'm quite happy now to be rid of this position for reasons detailed below. I rode it from the bottom all the way to the top and back again; along the way I've gained some insight about what solid management should look like. I usually trade stocks and don't hold them so take my opinions as you wish. I admit to holding this one FAR longer than I had wanted to due to my own overly-optimistic hopes and the illiquidity of the stock (at one point I owned 2% of the shares).

This is not a valuation call or anything like that. It's safe to say I've lost what little shred of confidence I had left in management when they announced last July and August respectively that (a) Gene Kostecki would resign and now would take 6% of sales in royalties (effective the prior year no less) and then (b) announce no more quarterlies in order to save "expense and effort". I had once thought that this is real shareholder-friendly management team...yeah.

I find it laughable that the board considers Kostecki, in the press release dated last July 30, an “unrelated party” in its explanation of the royalty payment increase. He’s the majority owner for crying out loud! The company sponsors his son’s racing career (I heard the racing commercials while on hold trying to speak to Woodhouse; which, like everyone else, was unsuccessful after trying at least 10 times and e-mailing him a few).

Now, they release a quarterly report after saying they wouldn’t release quarterlies and roughly a week after their CFO resigns. No press release saying whether or not quarterlies will now be released regularly. No press release or comments on business developments. Is this forthcoming? If not, what possible reason could one have in buying shares? Wait for numbers once a year? Good luck. A buyout? The majority owner controls that action and at what price. Do you trust him given the actions of management? Given what’s happened, it’s clear to me that any shareholder that’s not an insider does not count – doesn't matter. Providing numbers without any business update or commentary by management seems sketchy at best. Combine that with the recent CFO departure and doesn't paint a positive picture.

I had some questions I'd like to ask of management so I contacted the new Secretary after the quarterlies were released and asked if the company will now release quarterly numbers on a regular basis. He said they would. (Wouldn't that be nice if they informed the entire investing community?? Isn't that material information?? -- the kind of information investors like to know -- the kind they released when they decided to go to the Pink Sheets?? ) Since then, no PR has been released indicating anything of the sort. I also asked him if any business development or management discussion PRs (i.e. news) would be released going forward. He was non-committal in his answer. Suffice it to say, in my view, management, by their recent actions and words, has sewn confusion and fear among many shareholders. Thus, you have a share price where it is today.

This all is not earth-shattering breaking news to many on this board. It took some time for us to get here. I wish all the remaining shareholders good luck. I'm no longer one because I'm tired of being at the mercy of a majority shareholder (of course I had placed myself in this situation with eyes open)-- tired of the abuse.

OHLCSummit

Glad to share pertinent info

I spoke directly to the Secretary, Mr Dahanayake yesterday. I asked him if they are going to resume posting quarterly earnings results. He said they will. I suggested that they might put out a PR letting investors know.

He prefers to comment directly to shareholders on the phone rather than by e-mail. After getting nowhere with Barry, this is refreshing.

OHLCsummit

Don't know what's required to be reported. I'll ask, if they'll talk to me. They use the word "voluntary" a few times in the release.

Not sure what they have to offer a shareholder now.

Called again, receptionist said BW was out...our answer arrived just now..no more quarterlies

ebase,

I haven't tried since two weeks ago but I plan on it later today. I will report back if I can reach whomever is in charge.

Swick thanks for posting here and you too ebase. I haven't gotten any call back or email reply.

Disheartening but this has been trending that way for a while. I knew there was a majority owner when I bought shares.

Hoping I can ask a few questions.

I sent two e-mails to them via info@alloysteel.net from different e-mail addresses over two weeks ago with no response. Basically asking for shareholder info via the website and/or if they are intending to file anymore. Kept it cordial.

Called them yesterday during their business hours. Put on hold and then was told the "director" (assuming it's Woodhouse) is out and I left my name and phone number. Heard nothing back yet.

Assuming that I can talk to him, what questions would you guys like to have answered?

Mine are along the lines of:
Will you be reporting earnings going forward? How often
Will you have links to reports/shareholder info via the website?
Update on Indonesia progress
Question related to royalties; any offsetting savings somewhere?

I'd like to hear from management but I'm not hopeful that I will.

ebase,

I noticed that too a couple of weeks ago. I e-mailed them an inquiry yesterday; let's if they respond.

Still am wondering why this is a public company at all; what's Kostecki's (et al -- the majority shareholders) motivation with this company? Tapping the equity or credit markets? Probably not.

Given that mgmt owns most of the company, they could easily make a sweetheart bid to privatize and there'd be little we could do.

Still holding my ~1.8% position waiting for a mgmt bid

Must be the same one I use for one of my accounts.

A nasty reaction but I remain long and haven't sold a share. Still own >1% from long ago.

Surprising that they are looking at that period. Trading doesn't look odd at all to me. One might think that, with the transformative announcement ahead, anyone buying with the knowledge would have bought enough to move the stock well ahead of where it was before Sept 5.

Another director is a good move. It may not indicate an uplisting here in the states but perhaps a listing elsewhere. More important is numbers to come.

my fave address

http://maps.google.com/maps?layer=c&cbll=-31.858487,115.903967&cbp=12,133.88,,1,2.49&ved=0CBoQ2wU&ei=GaV9S8KeO5n2iwPog-meCg&ie=UTF8&ll=-31.858487,115.903967&spn=0,245.830078&z=4&panoid=i-ufnUacZxyFUUhNBsu6jQ

Splitting shares at these levels makes no sense to increase shareholder value as you are ensuring additional time on the otcbb and making this a 60 cent stock. It probably would help to get the total shareholder # up.

A better idea would be to release details of your expansion plans, get your story out, and make a move to a listed exchange.

I like the numbers put out but would like some details. Hopefully we can get some.

It would be nice to know more about Kostecki's motivation long term via some kinda interview given management's major control over the shares and thus pretty much everything that goes on there.

He obviously has a huge stake in this company so I'm sure he wants business to go well. My concern, as a minority shareholder, is fair dealing. Don't get me wrong, this is probably the most shareholder friendly co I've seen. But, with control of approx 70% of the stock by management, a "big fish" may not feel much comfort.

I've posted this before, so sorry to belabor it, but why, if you are management, be a public company at this point? It's not hard to see how they might want to buy the remainder and keep all the future earnings. Further, they wouldn't have to offer much if any premium since they control the votes.

DIH, seems to have their collective ears. Maybe we can ask some more questions along these lines after the Q report is out and digested. Whaddya say DIH?

Shouldn't be too much longer til the next earnings filing; by the end of this week it sounds like. Looking forward to seeing more detail. Management has shown an inclination to provide more detail lately.

Hoping someday there will be a conference call :D (when the company is large enough or whatever).

I remember there being talk of visiting the ops in WA. I would be interested in that and especially meeting Gene.

Been picking at shares lately. Not going well as sellers are selective here. Have plenty of shares, too many or not enough. It all depends ;) good luck everyone and happy birthday today to my brother.

^$3 gets it some free publicity for those who scan for 52 week highs...like me

I don't think I've heard this much out of them in this short of time ever. Looking forward to details in a week or so.

An uplisting would certainly draw attention to the story and likely pop the stock further, pronto. I've seen many a Chinese otcbb effect reverse splits in order to list and have their shares surge. CAGC comes to mind. Heck, change the name to China Alloy Steel and we'll be at 10 before you know it ;)

In all seriousness, getting Gene's take on a possible uplisting could tell us a lot about his long term goals for this company and help answer some of the questions I posed in the last post.

I asked for some guidance/numbers. Gene delivered. WTG.

Agree with you DIH. Furthermore, why even be a public co, especially given no apparent need for liquidity to this point? Why not keep all the earnings if you are present management? Why go through the expense of reporting requirements? Majority holders could easily arrange a sweetheart deal to go private if they wanted. Hopefully, they intend to grow the company substantially before anything like that occurs. They have every card in the deck. But, from what little I've gathered about this crew, they seem VERY shareholder friendly.

Re: uplisting... I believe there is a "# of shareholders" requirement"??? for a listed company. Anyone know for sure? I hope nobody takes the above comments the wrong way. I'm a happy shareholder and plan to stay for a while. I have no choice really ;)

Thanks again DIH. Any chance of asking further follow up questions like those compiled here earlier? ie margins, numbers etc.

Happy New Year to all Alloy stock holders!

Thanks DIH.

Guess I (we) expected too much. It would be nice to get some details on the numbers/plans. Could you try again to get some questions to him Dave?

That's odd. I had an order there too..weird. Still holding a 1.5% stake. What ever happened to the Q&A Kostecki consented to a while back?

Is this just boilerplate? The second sentence...

"Future cash flows from sales are anticipated to be sufficient to sustain the Company’s operations. The Company is also reviewing available options to raise capital in alternative markets, although it currently has no commitments to do so."

I wish they would have released a quarterly report or otherwise given us some more color on the recent strength in the business.

Does the management team still intend to issue a Q&A response to DIH's questions? It surprised me that they would agree and I look forward to it. If so, I take it that it would be in the form of a PR. Thx and thankfully long plenty.

Yes, Thank you very much for asking. It'll be interesting to see the answers; surprised they are offering to answer.

Must be Holiday Inn buying lol

Funding for expansion traditionally from $$ from ops. Since expansion seems to be ramping pretty fast, can we expect anything other than funding from ops for new mills, etc?

Interesting how fills were given. I had (still have) an order at 2.32. I was first filled at 2.30 for some then 2.32 for some more. Weird but that's life on the bb.

Thanks for the reply Gilead. Let's hope they do get the growth multiple, anything's possible with the stock market. This company has a tremendous opportunity and it appears management is taking full advantage.

Have been lurking here mostly but have followed the stock for a while and have a significant position in the stock and am obviously a big bull and haven't sold a share.

I don't think the shares will command a growth multiple like 20 on earnings, at least consistently, because they have just one product line, albeit the best in class. I hope I'm wrong about that of course.

Good luck to all longs. I respect the informational give and take here. The good insights helped me hold and add shares when it was way down in the dumps.

Thanks a bunch; missed that when reading the 10Q

Can anyone please post the number of shares outstanding?