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Mark A. Nordlicht
Platinum Management LLC. A rather small (1.3 Billion under management) hedge fund, but a hedge fund nevertheless...
What the hell were they doing here?
Pictures of drilling operations posted on GB's website and never on Daybreaks own official website?
Think about it....
Because they are fake. GB makes no claim to the authenticity of information posted on their website, as they are a third party entity.
Daybreaks website however is considered official communication by SEC rules, and the intentional posting of fake pictures on Daybreaks site has legal consequences, whereas GB is immune.
They are probably doing nothing. Look at the google earth image of their operations office, some brick shack situated off a 4-lane highway, complete with rusty pick-up truck in the back yard!
A couple of items jumped out at me:
(1) Kentucky fields seem to be the center of focus
(2) Increased production rates are realized to offset declining WTI prices
(3) Interest on debt is ballooning as additional advances are being made against maximillian credit line to advance drilling in KY
(4) Production expenses increased ~52%
(5) No dry holes were drilled in the year ending Feb 28 2015.
(6) No mention of well abandonment in Kern.
There's more, but still digesting...
I find it odd that Daybreak chose green baron as their "PR" firm in the summer of 2014, then refinanced with creditors in August when the price was at an ATH, refinancing debt at a much lower interest rate, of course issuing convertible debt which I assume has no floor, and is always converted below market price, hence the steady "lean" on the stock since last year.
Can anyone say "death spiral financing"?
0.03 cents per share? I can print the stock certificates and use as toilet paper...
Full round trip! From 0.50 back to 0.05....
Heavy volume day, however price was disappointing.
You're taking credit for running him off? I thought I did?
Anyways, no one really misses him. If anything, his absence is beneficial to an exchange of ideas on this board. He's bullied nearly everyone off the board who dared question any of his posts.
I've been buying since 2010. Probably more if the conditions were right. You can thank Maverick for keeping the price low, he's been leaning on this stock over the last 12 months. Take notice of his attempts to pump while he unwinds his stake. Unfortunetly I've been following his posts since my arrival here and I estimate his cost basis to be somewhere around 0.05-0.06...0.07 at the highest, so you won't get any shares cheaper than that, unless Mav will take a loss for tax purposes. Below that, should be no other sellers. Daybreak is easy to predict, always found good support here in the single digits, as their exists a core group of shareholders who will not sell below this key support level.
No, I knew it was too good to last. I'm am not necessarily ruling out snapping up more if the price is right either, but macro conditions need to improve before I go whole hog...
That's a sophisticated strategy shorting BP after the macondo well incident. I personally like trades with a bit more strategic approach.
Tell me more about your FOREX trading, or are you simply shorting EUR/USD until the ECB winds down...how about stepping over to the exotic pairs and going against the herd?
As I type, this I-hub post is only using one of monitors on my six-panel trade station, but according to you, everyone here lacks sophistication in trading, so I guess us dumb folks will sit back and defer to your expertise.
I reckon first thing Monday I'll get long on some typewriter manufactures and Puerto Rican Muni's...what do you think?
I don't get emotional about this stock, unlike you I'm not wagering my entire portfolio on some JV penny stock. Come on over and buy some blocks of momentum stock like a real trader, cut your teeth trading the charts and level II screen, maybe mix it up with some option spreads, then we will talk. Until then, you're stuck hoping some MM makes a market in a penny stock that trades less than 20,000 shares daily? Good luck, I don't see that happening anytime soon.
BTW: Earlier you mentioned you were long large cap oil (BP) and shorting the juniors. Wrong move, you're not factoring currency headwinds. The bottom is in for domestic drillers, only question is who has the balance sheet to survive and who is hedged out until 2016.
I do quite a bit of DD thank you, I just don't post rants about my investor "staff" or Arial surveys over oilfields in a private plane. I stick to the macro and fundamentals. If Kern cost of drilling is ~$50 barrel and Kern crude commands an ~30 discount to WTI, which I see is trading slightly south of $50 barrel, might I assume the company is loosing money in California or should I merely follow the nightly pump that Maverick provides on I-hub?
If making only relevant posts which in turn keeps my post count under 200, then I'm guilty as charged.
It seems your posts are quite bearish in the teens and twenty PPS range, although you turn quite bullish when the stock dips into the single digits. It would almost seems as if you are pumping to unwind your position after such a bearish stance?
Particularly when choosing to ignore evidence of even more penny stock promotion outside of GB, which is why I posted the original question.
A five minute internet search revealed more than GB. For the record, I'm fine with penny promotions because they bring in the dumb money and provide liquidity for the smart investors to unwind. Yeah I said it, I don't care. The market is a zero sum game.
From someone who professes to conduct an abundance of DD and who is constantly bashing the penny stock promotion technique's employed by Daybreak, you've failed to mentioned the other promotions outside of the Green Barron.
There's more than Green Barron. Can you name them?
Low cost per barrel in production? Whatever you're smoking I want some!
Precisely the one metric Daybreak fails to address with shareholders. If you have it, please share with others.
Add to that, Kern crude pulls in a lower price per barrel than WTI and costs more to produce. Way I see it, they are fighting two headwinds in the Kern patch.
The only thing I agree with in your post is we are entering the next leg down. Capitulation will occur somewhere between $25-$30.
That's a good sign right? How far out of the money are the Feb strikes?
Was that you who bought $1 million worth of $50 strike July calls today?
If you did, you're that man. They were talking about it on Fast Money tonight.
This company will be BK by the end of 2015, no doubt. What makes you think anyone is lending to Daybreak when the Juniors cannot even secure financing? Perhaps their hedge book will get them through the oil selloff? Oh wait, they don't have one.
Not to mention no movement on rigs or any PR's regarding the current state of the company in this difficult environment.
Yes the PPS has round tripped back to the "old days" although I wouldn't expect it to recover ever again. Just my 0.2 cents.
The only good news here is the PPS decline provides an opportunity to sell at a loss, offsetting some tax liability in cap gains for 2014. Other than that, that's about it.
P.S. Reading the tea leaves, note heavy selling at end of this tax year. If current holders believed their would be any chance of recovery, they would hold the stock past 1 January. Since they don't, they are selling for a tax loss. Lemon aid out of lemons. Some of the heaviest volume in this stock has occurred over the prior week, that tells me something.
How about instead of all this guessing, the company release a PR!
WTI has declined nearly 50% in the trailing 6 months. It's not out of line for SH's to request an update on the health and well being of the company.
penny stocks…fools gold! nuff said.
Hey Mavvy, how about a video of a bunch of bag holders getting kicked in the teeth? I think that would be more appropriate.
The WSJ had an interesting article a few weeks ago highlighting drillers BEP by shale play. The 70's will definetly hurt some, but the 60's is going to drive ~25% BK, I should have saved that article.
My point exactly.
I fully expect the next q to be bleeding red. The company barely broke even with WTI at 90+
No one is buying this company, furthermore no one will lend to a nano-cap driller such as this when WTI is at or below drillers BEP. Most of the majors have cut their rig count in half. I would expect Daybreak to be no exception.
with who?
I get the feeling Starboard will clear out the entire Board of Directors, much like they did with Darden. I've been doing some research on the C-level executives and board of directors in YHOO. All of them are low level "boobs" with the exception of the one executive who founded YELP (his name escapes me at the moment), he's the only guy with legit credentials.
There is no way activist investors can look at the third string talent running this company combined with the cash on-hand and current assets in BABA and YHOO Japan. Book value is $58 PPS alone with core operations!
I believe that Softbank must have looked at a BO as well, although with the current depreciation of the YEN against the Dollar, this would add ~10% on top of a 38 Billion BO.
Who knows, I surely expected some news by now..
As much as I would love to see this happen, there's no way BOD would approve 38 bln purchase of YHOO, especially after the 19 Bln purchase of whatsapp.
Unfortunately the YHOO & AOL is the more likely scenario.
Well folks, I believe we are now cash flow positive according to the latest 10Q. I do see risk in the persistent decline of WTI and it's impact if drillers were to start shutting down or lines of credit are reduced.
Does anyone know the break even price in WTI for the KY wells to be profitable?
FB needs to continue to push AH and PM tomorrow. Opening gap above &77 will signify a clear breakout and all of the algo's will kick in with buying. Otherwise, if it stumbles slightly tomorrow morning, we could see a break back down to today's lows.
perhaps it will fill the $83 gap on your chart in time, i'll sit and wait and not chase the stock. I will cycle my profits off from FB once the 3rd stage base is complete though. FB is preparing to breakout of it's cup with handle, could see the run to $85 -$95 when complete.
Anyways, SYNA has 65% market share of all cell phone controllers and biometric devices in cellular phones. Payment by mobile device via near field communication to point of sale machines in a retail environment will be the next big thing with mobile. Why carry a wallet when you can pay for everything with your phone? SYNA produces the controllers and biometrics. Good news here is they manufacture to everyone (Apple, Samsung) so they are not levered to one brand. iPhone 6 will do nothing but propel sales for SYNA.
I was getting ready to ask the same question? Is that you Mavy leaning on stock the last 6 months?
You're on FB boards and SYNA too! Wise choice to be bullish on both. Did you see the SYNA article in Barron's this weekend?
Someone has 40K shares parked on the ASK side at 0.20
After that, nothing on the sell side until the 0.30's
Can we get this selling over with and return to the 0.30's?
Thanks for posting the info. By chance, where did you get this information on the share repurchase?
While I do not fundamentally agree with the GB penny stock promotion by itself, it is a fact the exposure elevated shares to the 0.50 cent range in mid-2013.
What harm would another round of promotion do in order to boost market capitalization and secure more favorable lines of credit to fund future drilling initiatives? Perhaps this was taken into account when management dropped the $8500 on the GB promotion. Assuming an artificial lift in PPS secures lower lending rates by venture capitalists, over an extended period of time this could be viewed as money well spent.
Another viewpoint is the promotion goosed PPS in order for insiders to sell at a more favorable price, although I do not see any SEC filings that would indicate this has occurred.
Just my thoughts on the matter...
Buying opportunity my friends….
Gents,
Where do we stand with the proposed conference call with investors? I recall someone mentioning on this board several weeks ago about the possibility of management addressing questions over a CC.
I do believe this is overdue and the management team has someone appointed to the role of investor relations.
Nice volume today folks. The stock was liquid throughout the entire day. I would love to see everyday like this!
hey hey!! Where's my invitation? I'm not one to turn down a free meal...