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Hold Leverage:
Is anyone intending on holding on? There is a clause in the contract that talks about what can and cannot happen if they do not obtain 90% of the shares.
There are specific filing steps that would have to be followed (otherwise holding is the same as selling).
Some good insight, thanks for sharing.
There's some positive action this past week which comes on the heels of the Q3 results but may relate to Q4 sales. This is the point in time where the 9 month lag time in US begins. Has anyone heard anything regarding US acceptance and sales?
Just a reminder;
http://www.popsci.com/bown/2010/category/health
Viking Systems’ 3DHD Vision System Receives a “Best of What’s New
2010” Award
WESTBOROUGH, Mass., November 17, 2010 (GLOBE NEWSWIRE) -- Viking
Systems, Inc. (OTCBB:VKNG) announced today that its recently released 3DHD Vision System has been named a “Best of What’s New 2010” award winner in the Health category by Popular Science magazine. The award recipients were included in the
December issue of the magazine.
This just in...
...a summary and perspective.
TheCHEAPINVESTOR
Published Since 1981
T1h9e8 1In19v8e1stor’s Guide to MicroCap & Turnaround Stocks under $5 per Share
ISSN 0747-7236
2011© The CHEAP Investor 3 Golf Center, Suite 404
Hoffman Estates, IL 60169 (847) 697-5666 Fax: (847) 697-5699
Volume 29 Issue 7 August, 2011
Viking Systems, Inc.
OTC Bulletin Board Stock Symbol – VKNG Price: $0.27
Viking Systems develops, manufactures, and markets three dimensional (3D) and two dimensional
(2D) visualization systems used for complex, minimally invasive surgery, which reduce patient
recovery time. Its Viking 3Di Vision System is an advanced three dimensional system for minimally
invasive laparoscopic surgery with applications in bariatric, cardiac, neurologic, urologic, gynecologic,
and general surgery. The Company also offers two dimensional digital cameras and other
components for several leading medical instrument companies worldwide.
At this extremely low price, Viking Systems is very speculative. However, the stock has some very
unique 3D medical device technology. The
Company reported good revenues and a
slightly higher loss. Insiders own 33% of the
72 million total shares outstanding, while only
one institution owns 5,000 shares. The
Company has just $405,000 ($0.01 per
share) in cash, a book value of $0.03 and no
debt.
The Company recently offered a $3 million
private placement for 12 million units of
common stock for $0.25 per unit. Each unit
includes one share of common stock and a
warrant to buy 0.75 shares of common stock.
The warrants, which expire in 2016, have an
exercise price of $0.25 per share. Proceeds from this offering are expected to be used for general
corporate expenses and working capital. In particular, Viking Systems will use some of the proceeds
to expand sales and marketing and to fund more demonstrations of its 3D High Definition Vision
Systems.
According to the May 6 news release, “In connection with the private placement, Clinton Group, Inc.
has reached an agreement with Midsummer Investment Ltd. to purchase all of Midsummer's holdings
of Viking Systems common stock and warrants. At the time of this agreement, Midsummer owned
7,223,457, or approximately 12% of the total shares outstanding, and warrants to acquire an
additional 5,551,034 shares of Viking Systems with an exercise price of $0.18 per share.”
The capital infusion is good news for this cash-strapped company. However, with the price so low
and so many shares outstanding, there is always a chance of a reverse stock split. What we are
betting on here is that its 3D technology will be a winner. The Company’s first quarter financial results for the period ended March 31 are shown below.
Jed Kennedy, President and CEO of Viking Systems, said, "We are very pleased with the progress we
made this quarter, which represents the first full quarter of sales of our new 3DHD Vision System since
its launch in October 2010. Not only did we experience 63% growth in sales in this quarter but we now
also have twenty 3DHD demonstration systems deployed which we believe is essential to ramping up
sales later in the year."
During the quarter, Viking processed orders for 22 of its recently-released 3DHD Vision Systems as well
as for four of its previous generation 3Di systems. Of the 22 3DHD systems, the Company has shipped
19 of them, with the other 3 units being delayed due either to financing or regulatory delays in the
receiving countries. Of the 19 shipped systems, 7 were sold to customers, 10 were sold to distributors as
demonstration systems, and the 2 others were shipped at no charge -- one for research and the other
for market development. The 4 previous-generation 3Di systems had been sold in an order that had
been in process prior to the launch of Viking's new system.
On May 10, the Company's 3DHD Vision System was used in the first human surgery utilizing Terumo's
Kymerax Precision Drive Articulating Surgical System. The surgery was successfully performed in
Austria by Professor Gunter Janetschek, Medical University Salzburg, Department of Urology. The
combination of these technologies, which was presented in Viking's booth at the recent European
Association of Urology Congress in Vienna, demonstrated the enabling value 3D vision brings to
surgeons using articulating instrumentation. It drew a tremendous amount of attention from surgeons
interested in alternatives to more expensive robotic solutions.
During the first quarter of the year, Viking Systems signed an agreement for Medychny Komplex-MK Ltd.
to distribute its 3DHD Vision Systems in Russia and the Ukraine and certain other countries that are part
of the Commonwealth of Independent States.
If Viking Systems continue to grow its sales and perhaps become profitable, we think the price could
move 50 to 100% from this low point. The stock is very speculative, but the company does have
intriguing technology. The stock can be followed daily through Internet quote services. For more
information contact: Viking Systems, Inc., 134 Flanders Road, Westborough, Massachusetts 01581 or
call 508-366-3668. The fax number is 508-366-8858. The Website: http://www.vikingsystems.com.
I appreciate all the information shared in this forum. Thank you.
I did want to mention that we haven’t discussed much on the operational aspects of VKNGs systems (systems meaning production, supply chain, logistic, etc.) and their overall ability to produce the units meeting cost, quality and availability targets. For anyone that has ever been a part of a fast growing company, execution can be a real challenge. Especially if you include doing it with limited financial resources. So getting the orders is great but you cannot exceed the ability to produce them or you’ll leave customers very unhappy; -never a good thing. I expect that the complexities of the product lend themselves to our perceptions of “slow growth” or other “disappointment.” I am pleased with VKNGs no-nonsense approach. Saying what they will do and doing what they say. I am also pleased with the recent additions to the Board though admittedly my research on the individuals was no deeper than what was immediately available. The additions bring strength in finance, operations and to some degree marketing (at least in experience and connections).
I remain a cautiously optimistic fan focused on the long term.
GLTA
Best regards.
I sure did and I won't try and predict a price per share but I will be watching sales and financials as they hit one milestone after the other.
Happy to take advantage of some fluctuation on the way.
Viking is steadily executing to their plans and I remain very positive and quietly accumulate as well.
Here's to an early retirement Kimble.
For those just entering, do the research. Viking conveys their plans and then executes to them. No inflated statements, no hype.
Nice trend here.
"During the 33-month period from January 2008 through September 2010, we shipped a total of 28 3D systems; this compares with the 21 systems shipped in Q4 2010 and the 31 systems projected for Q1 2011."
Good things are coming...
Here's one email.
I sure wish someone would post that has been to a show and seen the demonstration first hand.
I expect VKNG to post financials shorlty and I hope it includes some growth trending performance and complimenting announcements/buzz from the newly hired Porter, LeVay & Rose, Inc.
Holding strong...
_______________________________________________________________
VIKING SYSTEMS 3DHD VISUALIZATION SYSTEM WILL BE SHOWCASED IN MOSCOW AT THE XIV RUSSIAN SOCIETY OF ENDOSCOPIC SURGEONS CONFERENCE FEBRUARY 16 - 18, 2011
--3DHD System Demonstrated at Leading Russian Conference--
WESTBOROUGH, MA, February 15, 2011 - Viking Systems, Inc. (OTC BB:VKNG), a leading worldwide developer, manufacturer and marketer of 3D and 2D visualization solutions for complex minimally invasive surgery, announces the Russian launch of its new Viking 3DHD Vision System at The XIV Russian Society of Endoscopic Surgeons Conference, in Moscow. The Conference takes place on February 16 - 18, 2011.
Viking’s 3D Vision System will be demonstrated in a broadcast of a minimally invasive laparoscopic surgery at this conference, being held at the prestigious Vishnevsky Institute of Surgery of the Russian Academy of Medical Sciences. More than 500 leading experts in endoscopic surgery from Russia, Commonwealth of Independent States
(“CIS”) countries and Europe are expected to be in attendance at the Conference.
Jed Kennedy, President and CEO of Viking Systems is scheduled to introduce the 3D broadcast. Kennedy commented, “We believe this conference will provide Viking with a powerful platform to launch our new 3DHD Vision System into the Russian marketplace, and to gain the attention of surgeons throughout the CIS and other European countries.
The conference broadcast of the surgery using our 3D vision system is expected to demonstrate the many advantages that it has, its enhanced capabilities compared with 2D systems, and how it can improve the quality of patient care, while reducing procedure time and costs.”
About Viking Systems, Inc.
Viking Systems, Inc., is a leading worldwide developer, manufacturer and marketer of 3D and 2D visualization solutions for complex minimally invasive surgery. It actively markets and sells the only stand alone, cost-effective 3D system for use in minimally invasive laparoscopic surgery. Viking partners with medical device companies and healthcare facilities to provide surgeons with proprietary visualization systems enabling minimally invasive surgical procedures, which reduce patient trauma and recovery time. Viking, through its OEM products business, also designs and manufactures surgical vision systems and components for several leading medical instrument companies worldwide. For more information, please visit our website at www.vikingsystems.com.
This press release contains forward-looking statements. These forward-looking statements are estimates reflecting the best judgment of our management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should, therefore, be considered in light of various important factors as described in our annual report on Form 10-K under the heading "Risk Factors" as updated from time to time by our quarterly reports on Form 10-Q and our other filings with the Securities and Exchange Commission.
Statements concerning forecasts, revenue growth, profitability, production and shipment of units, future financial results, and statements using words such as "estimate", "project", "plan", "intend", "expect", "anticipate", "believe" and similar expressions are intended to identify forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
#####
News...
Viking Systems Retains Porter, LeVay & Rose, Inc. To Advise On Investor Relations Awareness And Outreach Initiatives.
Link - http://www.thestreet.com/story/10998020/1/viking-systems-retains-porter-levay-rose-inc-to-advise-on-investor-relations-awareness-and-outreach-initiatives.html
Good news for us.
Sell orders beginning to take over the buys. Stop losses will kick in shortly and stock could fall significantly. Be careful today.
I think a lot of folks were waiting for this news (cut and pasted below). I think this will help turn things up again as indications are supporting a recovery...
Link = http://www.istockanalyst.com/article/viewiStockNews/articleid/4839215
December new-home sales climb 17.5%
Jan. 26--In the words of one economist, 2010 was a year the real estate industry would rather forget.
Still, the year closed with a 17.5 percent surge in new-home sales in December from November, with the West leading the charge, according to data released Wednesday by the Census Bureau and the Department of Housing and Urban Development.
Industry experts noted a strong increase in sales of previously owned homes in the West during the same month, and attributed both spurts to employment growth in the region.
On the other hand, economist Patrick Newport...
Some of us have been using the entities Dutchess and Midsummer Capital interchangeably. They are separate entities but both capital funding and both have shares of Viking.
Dutchess Capital (http://dutchesscapital.com)
Midsummer Capital (http://www.midsummercapital.com)
This latest posting I see with Dutchess was filed with the SEC on 11/04/2010 - http://biz.yahoo.com/e/101004/vkng.ob8-k.html
I see Midsummer selling shares regularly as insider transactions at current prices. There shares must have come through earlier funding. Anyone have more information?
I agree. I am thinking of gains like a crossover to positive net income, an increase in cash flow and sales. No borrowing (or conventional if any).
Incremental moves in the right direction would be signs of health, acceptance in the market place and provide a sense of velocity.
I’d expect Viking to post financials on or after February 3rd. Coupled with the financials I’d expect to see an update on orders and perhaps new publicity including some quotes from early adopters.
It seems to me that this relationship with Midsummer should be drawing to a close. Hopefully the 20 units for demo purposes found good purchasing terms (i.e. up front money and payment on receipt) to avoid further need for barrowed capital (a previous requirement). This quarter and Q1 financials will be very telling. Viking Systems is at an inflection point and moving to the next phase of a company’s lifecycle. This is the perfect time to be getting in and I agree these prices are a gift.
Midsummer Capital Website FYI: http://www.midsummercapital.com/
We get it, you're shorting.
Thanks for stopping by.
Does anyone watch this stock? It seems like a good one to short. Layoffs, soft Q4...
I've been in this stock for over a year and believe in its future and yes, this is a quiet group.
We recently had announcements of 32 orders. 20 units were for demo purposes and likely at cost but who orders demo models at any cost without confidence in their return on investment? There are no pending announcements or milestones to meet (except demand) as they have all been achieved (on schedule I might add).
Now its time for execution. Share price will be a direct reflection of orders, delivery and healthy financials. The same as any other company. The big difference here is the current share price does not reflect its maturity (IMO) making it a good buy (again IMO). When this company proves itself through quarterly performance financials, share price will reward this quiet, patient and logical group of accumulators (a hunch).
Happy Holidays and a great 2011.
Looks like Bopp gifted 1,000,000 shares each to two family members. Likely an end of year tax strategy.
Below is a cut and paste. The first line is a list of the column headers and the second is the related information.
* Transaction Date Name Position Type Shares Range Market
Value Total Holdings
* 11/30/2010 BOPP, WILLIAM C. Director Disposition (Non Open Market) 2,000,000 $0.00 0.0 9,522,727
Bopp's last transaction prior to this was 3/30/2010. He retains 30% ownership.
Here's the link.
http://www.marketwatch.com/story/viking-systems-3dhd-vision-system-receives-a-best-of-whats-new-2010-award-2010-11-17?reflink=MW_news_stmp
Good to see this news!
Thanks JustABroker,
I am hoping that $3M is the last VKNG will need and that the relationship with Dutchess is complete despite the option for more. I am sure it was necessary given the phase of the corporate lifecycle but now we'll be able to get a better picture of this stocks performance potential. The timing couldn't be better as the orders will begin shortly if not already.
VKNG Bloggers, could you please help decode some of this legal verbiage from the recent news posted at the below link and how it might impact share price?
Re: biz.yahoo.com/e/101004/vkng.ob8-k.html
“In the aggregate, since the required registration statement was declared effective on February 12, 2010, the Company (VKNG) has sold 10,578,565 shares to the Investor Dutchess) for total net proceeds of $2,688,472. As a result, the Company may put up to an additional 4,421,435 shares to the Investor under the effective registration statement as of September 30, 2010. It is the Company's understanding that, upon notice from the Company to sell shares to the Investor under the Investment Agreement, the Investor begins selling shares in the open market and sells all of the shares before settlement with the Company. It is the Company's understanding that the Investor does not hold any of the Company's common stock and has resold all the shares put to the Investor. However, the Investment Agreement does not require the Investor to immediately sell the shares the Company issues to it.”
Q1: Looks like Viking gets to choose whether they continue to sell more to Dutchess according to the agreement. Is that correct?
Q2: If the above is correct, does anyone know of any financial facts on whether they will need to sell more to Dutchess?
Q3: If Dutchess buys the available remaining balance (4,421,435 shares), they must buy at market value. Am I correct? If so, how does that enable them to hold price down?
Q4: When they say “the Investor does not hold any of the Company's common stock and has resold all the shares put to the Investor.” Are they treating the shares purchased according to the agreement differently than common stock?
Q5: Further, they appear to be stating that Dutchess no longer holds ANY shares despite the fact that they could hold if they wanted to. If that is correct (Dutchess holds zero shares), this could be big for us (IMO) as it eliminates at least one market maker. Am I interpreting this statement of ‘any shares’ correctly? Could they really know (i.e. legal obligation)?
Q6: I am interested to hear overall thoughts on the relationship at this phase, how VKNG may be nearing the end of this relationship and how that might affect future price.
I will remind everyone that any responses are opinions and should be treated that way as each of us executes our own due diligence.
Thank you,
I agree; something is holding VKNG this week. It’s perplexing…
My theory is that perhaps it’s because it doesn't fit the typical penny stock profile usually surrounded by fanfare and hype. VKNG is based in a real product with real existing sales (on 2D systems) and real partners, -Boston Scientific and Sony to name two. VKNG has real FDA approvals, real project milestone and timelines for launch (which they have communicated and kept to). It’s not glamorous, it’s one logical step after the other and if you look at the stock trend, the price has increased one logical notch after another. Further, our military is a current customer. The military always makes suppliers stronger. It might have associated pain but the supplier will benefit over the long term. Which is another key point; - the military doesn’t work with a flash-in-the-pan, penny stock type organization?
When was the last time you saw this in a penny stock? We’ve become a culture of NOW! and this doesn’t fit the typical penny model. I say, “Why should it? It isn’t.”
Congratulations to the long time holders.
Here’s to a strong 4th Quarter.
Cheers.
Strangely quiet today and yesterday.
No news, no posts, sideways movement in price. Not what I expected. Is this the prerequisite calm before the storm?