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I like the idea of contacting management to request financials! Or requesting that they put an "investor relations" tab on the website.
Just Long, you're like a ninja! Coming out of the shadows with the "one stop shop" link to press releases for LYJN over the past few years. Great post!
~brownplanet, out.
Folks, I dont know a whole lot about retail but I would imagine that if you were going to sell a product online. A product as popular as Lyrix then you'd better be sure that you can support the massive influx of orders or else you risk upsetting your customer base. How would you like to go on to target or bloomingdales website, place an order for a scarf and jeans and it not arrive for 3 months? You would be upset with target or bloomingdales, not Lyrix even though Lyrix is responsible for filling the big stores orders. This company might be too small right now for the amount of traffic that those big stores generate. They may only sell it in select markets at brick and mortar stores.
My wife and I are thinking of running a tile contracting firm, we plan to start with small schools and state rest stops. We would LOVE to take on an entire multi-million $ shopping mall bid but we dont have the infrastructure for it yet. If we won the bid and couldn't meet the deadline we would never get another job in this state again! Everything i've seen suggests LYJN is growing steadily. They're probably embarassed about their financials because they either dont exist or if they do then they might not look so hot. Cleaning up an accounting mess like that requires the use of an accounting firm...Oh wait....
~brownplanet, out.
I think it would be a solid move for the more dedicated crew here to construct a 4+ year event timeline for LYJN. From what I can see, jasonlyric2years, 99, MACD, dad-o-7, zaney and a select few others (forgive me for not mentioning you, your work is very valuable) have been through the highs and lows of this company. From the outside looking in, and as a newbie to the pinksheets I see a trend with this one.
Correct me if I'm wrong but LYJN started as an "idea" for a clothing company, then made systematic press releases over the years until we got to where we are today? I am extremely interested in seeing a timeline of events, and how they relate to stock price over the last 4 years. I have a feeling it will reveal some validity to this company and its direction. If it shows that LYJN, regardless of its lack of financial statements, has continued to progress its BUSINESS then I think there is unseen and immeasurable value in this stock. If it started as an idea and folks bought lyjn on that alone, and then progressive press releases followed, well, that's one thing. But if it then turned into a real product, and then celebrities showed interest and song rights were purchased, and then accounting became an issue but was addressed.... I think you see where I am going with this.
Basically, I would like to see if over time the company has held to a path of accomplishment (regardless of how sluggish). If the company is trending toward success I'd like to see the timeline portraying such a suggestion. If not, then the timeline should show that the company has not met any of it's objectives, or "said one thing but did another." Whatever it reveals, it needs to be verifiable fact.
If you're holding some of this stock like I am, there's a little voice inside you that says "I think this company is going to be worth something soon." But you dont have any financials! "How ludacris to hold such a stock!" You say to yourself. "But the product is in demand, the kids seem to love it if only the right management were in place..." Sound familiar? Anyway, all we have is history on this. Some of you have sound information. This info is golden. Please, post your LYJN historic events in "bullet" form W/applicable stock price at the time of the event. The rest of us will build on it (fact only please.) You guys are the pioneers of this stock, some of you held the bag and there's NO shame in that, you might be much wealthier soon. You watched it's trends and nobody knows it better than you. If anyone deserves to make some decent coin on this it's you. Now help the rest of us who want to be long make the right decision. Show us the history.
Oh, and Dad-O-7 I got your private message. I couldn't reply because I dont have a premium account. Looks like there's alot of options, any recommendations on which one? The $16.99/mo small cap trader option looks nice...
~brownplanet, out.
Now we're talkin' folks! In an environment without any data readily available, you guys are churning up the fabric of the company. 99 and mysterymeat, using the Z-method I like it. I'll keep my nose to the ground and post anything I find but it sounds like a few of you are able to see the product on shelves firsthand, how does it look? Presentation? I didnt see anything in our malls here. I got my wife a scarf and shirt online and she loves them, she actually opened up a scottrade account Wednesday for the sole purpose of purchasing 75k shares Monday morning. (Guess whose gonna get shafted with running that account :( Friggin' bs. Oh well it's her money. Besides, if I double it for her I could, ahem well, married guys know what that could mean...
Thanks for the concern from some of you recommending I wait and not purchase at .04-ish but Monday is going to be a strong opener and up from there. I dont want to miss this run especially if they produce a tangible set of statements (do I really think they're going to do that??). I'm keeping my buy order for 50k shares. Between my wife and I that's a couple points high in the %risk column but this is the "100 mph hair on fire" part of our portfolio. The "fun" area. Everyday is full of sticking to the risk % plan, diversifying and taking the little 7-11% returns and I'm cool with it. But we just added pinksheet trading and it is wicked fun. I think it keeps us honest on the other markets we trade in. Boredom can lead to bad judgement, the pinks are a good way to keep from getting bored.
~brownplanet, out
And the 25 points goes to ZANEYMAN. I'm from Missouri, the "Show-me state." I was expecting someone to come out with a proven formula that they use and found reliable, kind of like what you use in finance but more of a grassroots development. I guess such a thing would be possible if someone were so inclined to spend the time and genius necessary to build it.
Zaney's method, which I now call the Z-method is about all you really can do when trading a non-reporting stock. It's logical, it feels right and most of which I have already completed. It made me alot of money last week. It makes me a little queasy to put money down on such a risky stock, like i've said I just started doing this with the smallest % of my port. But my returns were over 800% last week, mostly from LYJN. So back to the Z-Method that made me that money. This I copied and pasted from Zaneyman's post #6505. Perhaps he'll clean it up for us a bit and universalize it:
"So I go see the actual merch when I get word who's carrying it near me. I look at the displays, talk to the sales clerks, evaluate the apparent quantity of stock, and compare the price point with competition the stores have set out against LYJN's products. The operative question is: Would I choose this product over it's competition if I were a buyer?" ~ZaneyMan
~brownplanet, out.
You're right bowbender, a 2year old income statement would be nearly useless. But it would give you a glimpse into what sales were at one time, as well as COGS and interest (are they leveraged?). It doesn't matter, we dont have one and I was just kidding.
As far as buying goes, I was not kidding. Like I said, until this puppy produces current financial information I can't hold a long position in it. I'm back to trading it and I think at .04 it's a good time to get in for the beginning of the week. Just because it's not a good investment doesn't mean it can't be a good trade. You still got a good chance of doubling or tripling your money this week.
~brownplanet, out
ps Those 25 points are still on the table if anyone wants to give me their speculative tutorial. I use Investools for trading stocks that have reporting history but the pinksheets is a small part of my port and I'm relatively new to it.
Hey folks,
After researching the information that jasonlyric2years and MACD put up a day and 1/2 ago I had to change my % of long shares down to 10% and the rest I set to sell on Monday morning. No sooner did I set the sell order than did I find the release on Marketwire regarding LYJN posting of current information.
So, once again I cancelled that sell order and set a buy order for another 50,000 shares and I hope I get'em because this stock is going to run again. I'm back to trading on these guys until financials are actually released and not just announcements of ['We're planning to release current information.'] Here's the deal, I just started DD on this company a week ago and the majority of my findings suggest it is a systematic pump and dump. No financials and all of their historic runs can only be linked to press. They certainly can't be linked to financial strength because nobody knows what that is. Just give me an income statement please!! That's all I want, I would be cool with just that even if it was two years old!!
If Marty Josephson over at SJaccounting is working over the weekend and slamming together something for us, well, then there's value in that alone. Even if that something is not too nice looking, it would still suggest that they are addressing the reality of their position and taking steps to improve it. For all we know this stock is trading at 2x earnings. Maybe 100x who knows! That's what I wanna know. I would like to build a cash flows statement, or see one from them and then construct a common size income statement to compare against True Religion Apparel (TRLG, NASDAQ-NSM) who is trading at $29.6 now. (A very strong stock by the way and a perfect time to BUY.)
Alot of you are much more saavy than me on companies with little reporting, I would love to hear one of you enlighten me on how you make your buy/sell and short decisions. Beyond press bulletins. I will give 25 points to the person with the best advice. Yes, you heard right, T-W-E-N-T-Y F-I-V-E brownplanet points! You can take those points and do whatever you want with them, cause they're yours. Show them to your friends, put them on a necklace or sprinkle them on soup. Put them down on a fresh pair of lyric jeans. They might even take them, I can't say they dont because I haven't seen their current assets and they dont answer the phone. So, at least there's that. Best advice wins.
~brownplanet, out.
MACD-213 chimin' in with the Jethro Tull lyric!! I like your DD as well, you found some stuff I didn't. I knew it was a good idea to join this forum.
Like John Maynard Keynes said "When the facts change, I change my mind. What do you do, sir?"
On that note, it's illogical to assume that management is legitimately making an effort to break out of the pink. I'm still holding my 28,000 shares though. They cost me a tiny fraction of the money I made on this stock when I was in a trade position. If i gotta bag it then I gotta bag it! I'll set an alarm clock for 2013 to remind me that it's time to keep an eye out for the next PR so I can make $100,000. Now I know there's a couple sharp cats out here with me doing research. I'd like you guys on my side on the NYSE!
Also noteworthy, If this is a P/D it's only been a few days long and I'm betting they were hoping to get more than a measley .17 out of it. He risks legal trouble by doing it again, but dont be surprised to hear another homerun PR announcement. Maybe a spike up to .08 or .1 that would be perfect.
~brownplanet, out
A little more DD. For those of you who feel that this stock is soley being manipulated by PR from management. That may or may not be true.
I looked at the price chart of LYJN on a 10 year timeframe in an effort to understand how the press releases affected stock price. Two spikes (largest in company history at .75 +/-and .35+/-) could be attributed, at least in part to American Idol's inking with LYJN and can be read here for the .35 spike. I didn't look long enough to find what might have been attributed to the .75 spike in 06-07 but none of the PR is as thrilling as the decision to use SJaccounting. If they really plan to do so and it is not just a pump.
Good night all,
~brownplanet, out
Bowbender,
I'm not sure what you mean by "point to the garbage?" But i'm assuming you are referring to the verbiage at the end of post 6294.
I simply wanted to illustrate that I was not interested in any post constructed of empty criticism toward lesser informed folks or folks who have real questions regarding some of the acronyms or content that is regularly found in an investing forum. Even Mr. Warren Buffett had to crawl before he could walk, and he still lives in his modest Omaha home of 35 years.
I also wanted to seperate myself from poster's that dont provide any truth or substance about the subject. Rather, they post negative hyperbole which seems to be spawn from their own insecurity. Such editorial is a distraction and it decreases the quality of the thread. Anyway, I've paid it too much attention already...
To answer your question:
"And according to your own post its still speculative, with nothing in the affirmative, i'm i reading you right?"
If you're asking whether my 6294 post contains speculation the answer is a resounding yes! W/O a current income statement and two consecutive balance sheets I cannot decide with any certainty how this company is managed.
There is a chance that it's management, a few lucky celebrity (insiders), and the purposed "advisory board" are a bunch of puppeteers, but I doubt it. The product is too valuable and their business is to well built to be so reckless. I dont see anyone doing all that work to build a solid product and team of leaders just to hit the 'self destruct' button for a quick profit, they've been around since middle of 2002. In my dreamworld they are studiously postitioning this company to compete in a larger market (NASDAQ) and bring the stock to a whole new price level, busting out of the pinks in 9 months and making my meager 28,000 shares look like a retirement plan. Again, in my dream world :) yet It is more likely that they are building it's value and cleaning up it's financial picture in an effort to sell or become a subsidiary.
At least, that's what I would do. Take a great idea, build into a decent business and sell it to a more capitalized entity capable of maximizing it's potential. Of course I would insist on having some ownership and term royalties...
Happy Trading
~brownplanet, out.
Derbyblood, congratulations on your $98,000 take! That's big time, good for you. But that $98,000 isn't profit, as you suggested. It is actually called EBT, or earnings before tax (if you want to use the income statement model.) Either way, you did good to buy low and sell high. Not everyone was fortunate enough to enjoy the same liquidity at .17 as you were. I hope there is alot more trade profit to come. I still think it would be smart for you to take 10% of your EAT (earnings after tax) on that last trade and buy a hold position and a block of this company and forget about it. If you want to know why, you can read my post #6294. It's kind of long.
Good evening folks,
My last post was around 4am this morning after spending the entire night putting in diligence on LYJN. I promised to post a summation of what I found in an effort to make more sound decisions. Please read and sound back. You should know that I just started posting on investorshub because there are a few of you out there who post valuable fact which I was able to verify. That's what I am after, that's how I make my decisions.
John Maynard Keynes had a famous quote: "When the facts change, I change my mind. What do you do, Sir?"
For brevity's sake I will not be listing sources of information in this post. I will be glad to follow the thread and reply to questions in the future. So in the name Due Diligence here are the PROs of what I've found. CONS and QUESTIONS to follow. LYJN has teamed with Marty Josephson of Stonefield/Josephson Inc. CPAs and Business Advisors. In interesting management decision given that we have no financial statements on LYJN. We have been left to trade based on chart movement and public announcements. In my earlier post I was concerned that LYJN was listed as caveat exemptor (buyer beware) on OTCmarkets.com due to lack of financial information and various other arbitrary reasons. One can only speculate that the decision to utilize a large accounting firm is an effort to clean up their financial closets so that the world may look at them. Trading on the NASDAQ-NSM like TRLG requires accurate reporting of earnings and financials. I have a realtor friend who is hyper successful with revenue through the roof but no time or skill to manage it. LYJN is not a private realtor, it is my speculation they aspire to be a successful public company.
Not all companies, who trade on the PINKSHEETS bring their businesses public for the right reasons. Nor do all those companies have sound management. Couple the aforementioned financial management decision (teaming up with SJaccounting) with the well known fact that LYJN has lucrative rights to dozens of lyrics for their products. Add to that their big licensing deals with the largest music publishing companies in the world including Warner Chappell, EMI, Universal, Sony/ATV and Disney Music Publishing to name a few and it's hard to deny that this company has goals of one day competing with TRLG, RockandRepublic and the like whose Industry Average Market Capitalization is around $2.57B. It would seem more likely that LYJN would be acquired by such a company before competing with them!
Which brings me to the CONS, or QUESTIONS that I still have and I hope to sound off of you all. Number one, does LYJN have the capacity to meet a massive influx in demand? I could not find a reliable publication with that type of inside information. I know all about this company's recently built "Advisory Board" of professionals in the industry but there is no way to know if this is PR hyperbole or if these folks will be having meetings in earnest to steer the company straight. If they do have such capacity, did they take the necessary steps to protect their intellectual property. Certainly the lyrics are not their original idea but embroidering them on high quality clothing might have been. Was this protected? Does it need to be? I could not find anything on uspto.gov, then again you need a patent attorney to find what you need in that archive. Another question, what happens to the value of our stock should LYJN sell minority or majority ownership to another entity? You can see that these questions are more attuned to the investor and not the trader. That's because I have changed my position on this stock from swing trade to long-term hold, at least in majority part. I think their value will ultimately rise when they start providing accurate financial information. It would seem that they are taking action to do just that. Hard to tell unless someone at SJaccounting wants to hop on here and enlighten us. That would actually be great.
I think the Bloomingdales, Target and Nordstrom PR is smaller scale than all the hype. Of all their websites I was only able to find some Lyric clearance items on Bloomingdales. More than likely LYJN is gathering market information by placing units in select demographics for S.W.O.T. Analysis (Strengths, Weaknesses, Opportunities, Threats) While the celebrity appeal could be another part of their marketing effort called 'branding.' These are some of the questions we have, it's the volatility of this market that makes it exciting, as well as profitable! I look forward to hearing from the more astute of you all. The rest of you, who denigrate the new or ill-informed people here, or talk down to folks as if they were stupid and you are the almighty holder of information, keep your comments to yourself. When you throw such garbage at others, you end up looking like mental midgets.
Happy Trading
~brownplanet, out
Well Fast Flyer, I can't believe my eyelids are still open but they are : )
I dont think now is a good time to summate all of these notes. I would hate to make a mistake out of fatique or have someone mis-interpret me. Dont worry, I didn't do all this work for nothing. I fully intend to post this afternoon, I think you and others will like what I've found. I know I do. Which is why I will sleep confidently right through the open in a few hours.
~brownplanet, out
seriously this time, i'm going to bed...
In response to anyone suspecting I'm campaigning for anyone other than myself:
I just created an account on this forum hours ago. After performing my own DD on LYJN and others, I found this site and was able to glean some reasonably valuable editorial. But most of the posts appeared to be short sellers attempting to manipulate volume or the opposite.
You may surmise any opinion you want about my intentions. That is of no concern to me. I am a happily married 30 year old father of two and I am out here trading to serve myself, my family and anyone else who cares to hear what I have found about a stock through my diligent efforts. Through ups and downs I have maintained a very profitable position in my life and i intend to keep it that way.
Happy Trading : )
~brownplanet, out.
In response to Joenatural: I find it interesting how a company without a "pot to p*** in" could afford a large accounting firm in L.A. to help them straighten out their financial statements so that they can make a legitimate attempt to break away from the pink. My wife wore some of their jeans today(I guess it would be yesterday now wouldnt it! : ) Anyway, their product is solid, chic and in demand.
The pink sheets news service click here has this stock listed as 'caveat exemptor' (buyer beware) but I dont think this entirely negative. Based on recent PR released from sound business media this company is trying diligently to create value for itself. It more than likely will do so over the mid to long term (50-100 days). If you are not sure why this company is trading on the pink sheets or how it came to trade there in the first place click here
If you are interested in what I've said then stay tuned. Look at the time stamp on this post. I've been up all night turning over rocks on this company and I will post a summation of what I've found sometime during the end of the trading day. You can read what I've found and make a decision for yourself. If you're shorting LYJN I understand, but I sincerely believe you're making the wrong play.