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The company intends to uplist, so a reverse split is all but implied in their use of the word "recapitalization". I personally hope for a reverse split and subsequent uplisting, as I believe it is necessary for this highly qualified management team to raise capital at higher valuations, like a legit NASDAQ listed biotech should be valued....and to see continued share price advances as they progress through trials and demonstrate efficacy.
Their use of the word "recapitalization" may also imply the potential for a reverse merger with their majority shareholder, which I am also hopeful for if the terms are right....they now hold a large majority by percentage so one would think they have high enough interest to be serious about adding value to this public entity....I can't get into specifics of my wishful speculations here....but there is certainly potential for Emerald bringing significant additional value to the table.
DISCLOSURE: Holding a starter position and anxiously awaiting updates on their "recapitalization plan".
OT: I agree there's nothing good on the radio anymore, creativity of composition and technical talents of playing instruments are lost arts, but there's still some older folks putting out quality
music still (although I believe our tastes also differ significantly):
Bela Fleck and the Flecktones playing with Chic Corea's Elektric Band last summer may have been one of the best live displays of musicianship I have ever seen....from Victor Wooten's phenomenal funky bass playing, Bela's lightning quick finger picking on his electric banjo, Howard Levy playing harmonica like no other human can, and Chic Corea playing keytar...these guys are artists:
Some nice validation of efficacy for Cannabis for pain management:
https://parkinsonsnewstoday.com/2018/02/19/medical-cannabis-safe-effective-older-patients-parkinsons/
Emerald Health Sciences (EMS) is the parent company. If you look,at their website under the "Investments" tab, you'll see three options: Pharmaceutical, Botanical, Bioceutical.
Emerald Health Theraputics (EMH.v) is discussed under the "Botanical" tab....and I think you are correct that EMH.v is 100% owner of Emerald Health Botanicals. (EMH.v is the former T-bird Pharma that EMS rolled their "Botanicals" business into.
Neither the Pharmaceuticals or Bioceuticals has an operating company listed under it. Bioceuticals has a vague discussion of their intention to develop cannabis nutraceutical and launch them in 2017 (not sure if that ever happened). The Pharmaceuticals discusses 2 new NCEs they are in pre-clinical,development with......and that's where their past history of completing a reverse merger to form Emerald Health Theraputics get interesting with consideration of NMUS apparently rolling over and surrendering a large majority of their stock to EMS like they did.
Emerald Health Sciences majority investment in NMUS is particularly interesting in light how Emerald Health Theraputics (EMH.v/EMHTF) came public via Emerald Health Botanicals (Medna Biosciences at the time) reverse merger with T-Bird Pharma:
https://www.investinmj.com/directory/growers/t-bird-pharma
Both NMUS recent PRs make reference to "recapitalization plan and the potential uplisting of its shares onto a major stock exchange."
There are certainly more questions than answers at this point about what that recapitalization would look like, but I have bought my starter position and anxiously await the updates for more specifics.
The credentials of both management teams definitely demonstrate real credibility and experience at bringing new drugs through FDA for approval.
“In addition, we look forward to further exploratory data to be presented on the use of our CBD analog as both an analgesic and abuse-deterrant alternative to opioids in treating pain.”
FCCG: I was a little late to notice this FAT PR from 2/8 because I was skiing in New Hampshire last week, but this PR allays one of my biggest fears of investing in this foggy situation, that is that FCCG would collect the dividends and use the cover of being a SEC dark non-reporter to distribute those dividends as FAT salaries to FCCG management.
FAT Brands Inc., a leading global restaurant franchising company, today announced that its Board of Directors has approved its first quarterly cash dividend.
Feb. 8, 2018
LOS ANGELES--(BUSINESS WIRE)--
FAT (Fresh. Authentic. Tasty.) Brands Inc. (FAT) (“FAT Brands” or the “Company”), a leading global restaurant franchising company, today announced that its Board of Directors has approved its first quarterly cash dividend.
The Company’s Board of Directors declared an initial quarterly dividend of $0.12 per share of common stock, payable on April 16, 2018 to stockholders of record as of the close of business on March 30, 2018.
“We are pleased to announce the initiation of a quarterly cash dividend, which we believe reflects the strength and stability of our business model. Our predictable cash flow generation and strong balance sheet provide the financial flexibility to continue to grow our portfolio of brands while simultaneously returning a meaningful amount of capital to our stockholders,” said Andy Wiederhorn, President and CEO of FAT Brands.
The Company also intends to launch a Dividend Reinvestment Plan (“DRIP”), under which interested stockholders may reinvest all or a portion of their cash dividends in additional common shares of FAT Brands without paying any brokerage commission or service charge. The DRIP will be administered by the Company’s transfer agent, which will distribute plan enrolment materials and information to stockholders in the coming weeks. The Company’s controlling stockholder, Fog Cutter Capital Group, intends to reinvest its cash dividend into the Company as provided under the DRIP thereby allowing the Company to retain capital to continue its growth plans.
The declaration and payment of future dividends, as well as the amount thereof, are subject to the discretion of the Company’s Board of Directors. The amount and size of any future dividends will depend upon the Company’s future results of operations, financial condition, capital levels, cash requirements and other factors. There can be no assurance that the Company will declare and pay dividends in future periods.
About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns five restaurant brands, Fatburger, Buffalo’s Cafe, Buffalo’s Express and Ponderosa & Bonanza Steakhouses, that have approximately 300 locations open and 300 under development in 32 countries. For more information, please visit www.fatbrands.com.
Thanks MADDSTACKER, I believe it was you that pointed to the possibilities of a RM with Emerald Health Pharmaceuticals (EHP), thanks for pointing that out, I did more research and really like the potential for that, especially given Emerald's experience doing the same with T-bird Pharma to form Emerald Health Theraputics.
I initially objected with your notion that EHP would just fold their two New Chemical Entities (NCEs) into NMUS....and still believe that might be an overly generous gesture for their 58% stake....but maybe that's why Murphy allowed them to take controlling interest @ $0.10 per share???? Even if it costs another 20% to bring those NCEs aimed at MS and Parkisons under this corporate umbrella, we would have a very robust pipeline for any early stage biotech company.....and certainly the strongest among those specializing in marijuana derived theraputics....this is all very exciting!!
I am eagerly awaiting the company to provide an update!
VLE: No lock up on the financing, rumor on another board is that about half of that financing was flipped for a quick profit, but the other half i being held for investment purposes.
Their relationship is more analogous of siblings, not parents, see my previous post. eom.
Emerald Health Sciences bought a little over 58% of NMUS, not their public subsidiary company Emerald Health Theraputics (EMH.v) who received the financing. Observe the corporate structure under the "Investments" tab on Emerald Health Sciences page:
http://emerald.life/pharmaceutical/
You'll notice EMH.v is discussed under "Botanicals".
If you look at slide 4 from the NMUS presentation the first bullet point says:
- Emerald Health Sciences is an operating company focused on the medical potential of cannabis and cannabanoids. Is mission is to identify and invest in operating subsidiaries that offer it unique opportunities and provide appropriate resources to advance the development of subsidiaries and their technologies.
Going back to the Emerald Health Sciences website, you'll see that the Pharmaceutical tab just mentions their two New Chemical Entities (NCEs) and no specific mention of an operating company.
There is definitely grounds to speculate that NMUS could serve as a reverse merger candidate to bring "Emerald Health Pharmaceuticals" public, similar to how they brought Emerald Health Botanicals (Medna Biosciences at the time) came public through an RM with T-Bird Pharma:
https://www.investinmj.com/directory/growers/t-bird-pharma
There is certainly more questions than answers at this point, but I have bought my starter position and anxiously await the updates they said may be forthcoming on "restructuring".....could involve a reverse split as well and scare some traders away.....I'll be waiting with a keen eye to see how us minority shareholders will be treated in these potential upcoming transactions.
Nice, thanks! Slide 26 shows NB2111 for Pain Syndrome moving forward to animal testing in 2nd half of 2018 and advancing into Clininical POC Study in H1 2019. Further possitive findings in these studies could really turn some heads as the country desperately needs better alternatives to opioids for pain management.
The opioid crisis is in the headlines again today, said to cost $1 Trillion since 2001:
https://www.npr.org/sections/health-shots/2018/02/13/585199746/cost-of-u-s-opioid-epidemic-since-2001-is-1-trillion-and-climbing
I think NB2111 has great potential to make headlines and find a big pharmaceutical partner with any news of further development or validation (see post I am responding to for more information).
We waited for third party validation, which reduces the risk, but also the potential reward.....but based on the resource report there's still potential for a double or triple from here, so I think the trend of the past few months should continue.
PNWRF: I felt late to the party buying today, but see I keep good company here with you, CPT, and dr. airtime.
After watching this stock from $3.50 in early January, this resource report finally got me off the sidelines, these are huge numbers....bigger than anyone was expecting!
Unfortunately I was busy this morning and worried this was going to run away from me, so I participated in the early morning spike @ $6.10, but the deep value here should still offer a good gain from that level as production results and further drilling should derisk this further.
It's all early stage discovery phase stuff, but there's several potential eye-poppinging headlines in their pipeline:
1.) Their August 2nd PR had this observation hurried in the text, but this is a very interesting initial indication:
Additionally, NB2111 displayed abuse-deterrent activity in a validated animal model of oxycontin addiction. The in vivo research studying the analgesia and anti-addiction profile of NB2111 was led by Dr. Kenneth Sufka professor of psychology and pharmacology at the University of Mississippi, who will also be presenting data from these studies at the Society of Neuroscience meeting in the fall.
2.) This January 2018 article in the European Journal of Medicinal history might be the source for some pipeline updates:
https://www.sciencedirect.com/science/article/pii/S0223523417309467?via%3Dihub
Highlights
•
Photooxygenation of cannabinol derivatives yielded 18 new oxygenated compounds.
•
Products exhibited anticancer, antimicrobial, and antileishmanial effects.
•
One derivative showed better antileishmanial activity than standard drugs.
•
Two derivatives are CB1 partial agonists, one shows high CB2 binding affinity.
•
Photooxygenation may be a practical way to synthesize cannabinoid metabolites.
Brian Murphy, MD, MBA, Nemus CEO and Chief Medical Officer. “We recently presented notable analgesic and ocular data on our proprietary analogue of CBD. Coupling these recent findings to the growing global patent footprint of our prodrug of THC, we intend to soon issue a pipeline development update reflecting the significant business opportunities available for our products and addressing molecule prioritization, associated goals, and timelines. We are looking forward to working with our new colleagues at Emerald and taking our first steps into human studies.”
Nemus plans to utilize the capital raised to satisfy outstanding financial obligations and explore potential strategic opportunities which could possibly include a recapitalization plan and the potential uplisting of its shares onto a major stock exchange.
I disagree, I think Nemus is a great opportunity AND is priced where it should be....or might have even got ahead of itself....for now, until we get further details about the restructuring and pipeline updates.
Who deleted that post? I thought the questions he raised were reasonable and deserve due consideration.
It's also quite a stretch for you to imply Emerald Health Pharmaceuticals will fold their NCEs into Nemus's pipeline.
We have more questions than answers at this point....but for my part, I added 100k today @ $0.283....
"Strategic Majority Investor...."
“We welcome Nemus into Emerald’s family of life science companies,” commented Dr. Avtar Dhillon, CEO and Chairman of Emerald’s Board of Directors. “We greatly value the intellectual capital and discovery capacity of the University of Mississippi, with which Nemus has an exclusive agreement for novel cannabinoid technologies. We will work to support the business and developmental vision of our CEO, Dr. Murphy, across a spectrum of medical indications of unmet need. The Emerald Board believes that Nemus presents a significant value proposition for investors and we look forward to advancing its pipeline into clinical development.”
Agreed, the PR also mentioned potential capital restructuring and an uplisting so there's a lot subject to change here over the next few months, but my review of this management's history with the reverse merger of T-bird Pharma into Emerald Health Theraputics (EMH.v) gives me some confidence they will treat us minority shareholders fairly and take us along for the ride.
The Schedule 13D increases previous assumptions that were shared here about the resulting share structure:
The report shows Emerald will own 76,735,000 shares, or 58.2%, upon exercise of their warrants and the conversion of their Series B & F preferred stock....so that implies a fully diluted OS of 131,847,079 shares and a current market cap of $43.5 million @ a PPS of $0.33.
Next steps: The PR stated: “We recently presented notable analgesic and ocular data on our proprietary analogue of CBD. Coupling these recent findings to the growing global patent footprint of our prodrug of THC, we intend to soon issue a pipeline development update reflecting the significant business opportunities available for our products and addressing molecule prioritization, associated goals, and timelines. We are looking forward to working with our new colleagues at Emerald and taking our first steps into human studies.”
Nemus plans to utilize the capital raised to satisfy outstanding financial obligations and explore potential strategic opportunities which could possibly include a recapitalization plan and the potential uplisting of its shares onto a major stock exchange.
FWIW, I just contacted Emerald Health Theraputics, Inc. (EMH.v) investor relations and asked why they did not issue a PR regarding their acquisition of NMUS shares, as they had issued a PR regarding their acquisition of a minority position in Vanc Pharmaceuticals, Inc. (VANC.v) in November of 2017. Ray, their IR guy explained that VANC.v was acquired directly by EMH.v, but that NMUS shares were acquired by their parent company, Emerald Health Sciences, Inc.. That's an interesting structural difference, whose significance we can only speculate about at this point.
To me, it would make sense to address any structural recapitalization before providing an update on their pipeline and development plans. If they really are seeking an uplisting, then a reverse split is likely coming our way to consolidate shares and make room in the capital structure for further investment.
I have waded in to NMUS stock knee-deep over the past week as the valuation relative to other pharma-based cannabis companies looks very compelling here.....but will wait and see what the next steps are before I go balls in to the cold deep water here. Hopefully the next steps of NMUS and EMH.v will bring us further clarification and transparency to make us minority shareholders more comfortable with their plans going forward here.
GLGI: Their raw materials costs for recycled plastic resins should drop significantly this year, heck, they might even get paid to take it in due time. China banned imports of foreign "recyclable" trash at the begining of the year and "recyclable" plastics are already piling up all over the developed world....and is becoming a major issue:
https://www.japantimes.co.jp/life/2018/01/24/environment/chinas-waste-import-ban-upends-global-recycling-industry/#.WmqgtXNOngA
As an environmental scientist I love what GLGI is doing, according to a 2009 Cornell study only 7% of plastics collected in the US recycling system are actually being recycled, the remainder are being shipped around the world until they are sent to what are essentially garbage dumps of sorted materials in China where they have accumulated beyond China's ability or desire to deal with it anymore. GLGI claims to be one of the main consumers of recycled plastic resins in the US, which is believable because not many companies want to deal with dirty, mixed-color plastic resins.
On a more trivial note, the author of this ResearchandMarkets.com report could use a natural resource economics class or two. He's got this fundamentally wrong: "Plastic pallets are environment-friendly as they are made of HDPE or PP, unlike wooden pallets that are made up of lumber and is a non-renewable resource."
Actually, wood is a renewable resource because trees regrow, plastics are non-renewable because they are derived from oil, which is finite because its supplies do not replenish. Maybe he meant plastic is recyclable....at least to the extent GLGI is using it....and makers of composite lumber like Trex, which is made from #4 LDPE plastic bags that are collected at the collection points in your local grocery store.
PSA: If you buy bottled water, please rethink that decision and consider getting a filter of some kind, or at least home delivery of the larger 5 gallon reusable bottles. The world is literally choking on the waste from our convenient disposable products, at current rates of consumption and disposal, there will be more plastic in the ocean than fish by the year 2050...and the wild caught, ocean dwelling fish we are eating now already contain detectable concentrations of microplastics....this is a huge problem that we have some control over the causes and effects.
There is definitely a motivated buyer out there consistently accumulating this over the past month or so, but we can only guess what inspires them to keep buying this up.....
I don't think it's likely that the buyer was inspired by last quarters results, which while impressive on the top line, were not to impressive at the bottom line, as far as most individual or institutional investors would be concerned.....
However, remember that Morrison Park Advisors Inc. is out there shopping Covalon around for "1+1=3" M&A opportunities for the company......and maybe an interested, or even an uninterested party would be impressed by that topline growth, or was impressed with what they got a look at "in discussions"?
There's also a possibility the company could be nearing a potential licensing agreement, that spike in licensing fees and "services" a couple quarters back was interesting to say the least.....and I would kind of expect to hear more about that sometime in the future, as it may relate to a licensing/product development deal eventually.....if all goes well in the early evaluation stages...which would presumably involve "services".
FWIW: Opening orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331).
FCCG: I thought this sentence from the PR was pretty clear, but the prospectus should offer more clarification:
The Company intends to use the net proceeds of the Offering for the previously announced acquisition of Hurricane Grill & Wings and the repayment of existing indebtedness, as well as for general working capital and future acquisitions.
FCCG: The FAT Brands financing news yesterday was pretty interesting, especially considering the timing of the volume spike during the first week of January, one has to wonder if one of the underwriters or prospective investors got a deeper look into FCCG while underwriting this.
There's not much dilution of ownership, but definitely significant dilution of FAT cash flows.....but FCCG gets their loans paid back from the proceeds.
There's still a lot of fat in this valuation arbitrage IMO:
FAT Brands Inc. Announces Offering of Non-Convertible Preferred Stock and Warrants
12:49 PM ET 1/17/18 | BusinessWire
Preferred Structured to Appeal to Income Oriented Investors
LOS ANGELES--(BUSINESS WIRE)--January 17, 2018--
FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) ("FAT Brands" or the "Company"), a leading global restaurant franchising company, today announced the commencement of an offering of up to $50,000,000 of Units comprised of non-convertible preferred stock and common stock purchase warrants (the "Offering"). The Offering will be conducted as a general solicitation private placement solely to accredited investors.
The Company will offer up to 5,000 Units at $10,000 per Unit, with each Unit consisting of 100 Shares of Series A Fixed Rate/Floating Rate Cumulative Preferred Stock ("Preferred Shares") and 3 year Warrants to Purchase 185 shares of Common Stock (NASDAQ: FAT) at $18.00 per share. The Offering will close on a rolling basis, subject to customary closing conditions, commencing on or about January 31, 2018.
Investors in the Preferred Shares will receive quarterly cash dividends at a rate that increases from 8.0% to 13.0% per year, plus an additional dividend of 5.6% per year that will cumulate for the first three years and be payable on December 31, 2020. The Preferred Shares may be redeemed by the Company at 110% of liquidation preference plus accrued dividends in the first year after issuance, 105% in the second year after issuance, and 100% thereafter.
The Company intends to file a resale registration statement for the Preferred Shares and shares of Common Stock underlying the Warrants, and will seek to have the Preferred Shares quoted on the OTC Markets within 90 days of closing of the Offering.
TriPoint Global Equities, LLC, working with its online division BANQ(R) (www.banq.co), will act as the lead managing selling agent and sole bookrunner for the Offering. For additional information, please contact Sales@TPGlobal.com.
The Company intends to use the net proceeds of the Offering for the previously announced acquisition of Hurricane Grill & Wings and the repayment of existing indebtedness, as well as for general working capital and future acquisitions.
About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns five restaurant brands, Fatburger, Buffalo's Cafe, Buffalo's Express and Ponderosa & Bonanza Steakhouses, that have approximately 300 locations open and 300 under development in 32 countries. For more information, please visit www.fatbrands.com.
THANK YOU!!! I try to be efficient with my reading and posting here. I try to screen through posts here once a day to find new ideas and information, but all the talk of large cap trades in and out, posting stock quotes, and what hedge funds are doing is COMPLETELY WORTHLESS to me....and I think most of us the came from the Value Microcaps mindset.
Likewise, I try to limit my posting to only when I have actual material information to contribute....on stocks I think others may be interested in....to try and keep the information concise on here.
OBCI: I like this one as well and have made myself pretty familiar with the company.
As SSKILLZ1 said, the Q3 PR indicated that some deliveries were "delayed" due to the hurricanes, so we might expect some of that to carry over into Q4.
Their 2015 Annual Report indicated their Performacide products were adopted as a private label by a large water damage remediation contractor in the southwestern US and their Q3 PR indicated increased demand for those products due to the hurricanes. I'm not sure how much I would count on these factors for growth for Q4 specifically, but over the long-term the company expects these products to be a driver of their growth going forward.
Also in the long-term, the company expects their factory expansion, largely focussed on storage tank capacity expansion, will improve their product margins as they will be able to to go from tank truck deliveries of their raw materials to rail car deliveries, which will improve their pricing and transportation charges.
Disclosure: I am long and have received a box of complimentary products to evaluate their performance. I was pretty impressed by them and think they could benefit from some Billy Mays style infomercials, lol!
FCCG: Looks like there's more FAT on the bone of each FCCG share than we originally thought, it looks like it's actually 1:1 now based on that PR, but it's going to need to be taken in smaller bites than what was happening last week.
It seems the poisoned pill dulled the appetite of the sharks that were feeding last week, but that fact it was only extended to October 2019 might also suggest the company plans a business combination transaction in the relative near term, like less than two years.
Still holding, the risk/reward looks better than originally calculated, but the affirmation that the poison pill is still out there might dampen the excitement while we wait for FCCG to realize the value of its 8 million FAT shares.
FCCG: Nicely played Nelson, this buyer has had an interesting approach, steady accumulation on the bid began Tuesday, then Thursday afternoon it looks like they just decided to throw a $250k market orders at the stock....let it settle down, then repeat, and again, and again. They appear to have conviction and deep pockets....we'll see if they're back at it next week.
Maj at GEOInvesting doesn't know where it's coming from either, but made a good point that enough bankers have gotten a good look at FCCG's books for the financings for their acquisitions....so aside from the fact they're able to secure these loans, maybe Fog Cutters books are in better shape than others in the market assume.
For better or worse, I'm still holding all my shares....we'll see what next week brings....but I think there's still enough meat on the bone there to hold out for higher prices.
FCCG: Maybe hamburgers are the only safe play left on California marijuana legalization after Jeff Sessions move today (what a buzz kill).
Fact is, there's still a lot of intrinsic value in their 8 million FAT Brands shares....just not completely sure how much "other stuff" there is in the dark there either after their bankruptcy.
FCCG: It's not a current event, but during the first FAT Brands CC on 11/29 a very inquisitive investor asked some questions about the tax sharing agreement and the tax credit at Fog Cutter. Andy answered that question to explain that FAT Brands still needs to accrue for taxes at ordinary rates, but that "they" will be saving the cash to reinvest in the business.
He said "there is a NOL in Fog Cutter, it's useful to FAT Brands, therefore there is consolidation, we do hope that in the future there will be some sort of transaction that enables, maybe it's a merger, maybe it's not, maybe some other transaction that enables the NOL to get 100% inside of Fat Brands and not have to use the tax sharing agreement, there's nothing certain about that, there's certainly been litigation at Fog Cutter and other things at Fog Cutter that we would want to get cleaned up before we do that and they aren't cleaned up yet so on that basis we chose to keep it separate to keep FAT Brands very clean and simple and easy to look at and that's really why we came up with the structure we did and I think everyone will be happy they don't have to worry about other liabilities at Fog Cutter at this point....."
FWIW, I signed up for a free PacerMonitor account, although I'm not really familiar with how to read these filings, it appears that the only active litigation is a judgement from Oregon that is being entered in the California District. In my very novice evaluation, it seams like it the potential liability of this case is quantified by this statement:
ABSTRACT of Judgment issued in favor of Plaintiff American Industries, Inc. and against Andrew A. Wiederhorn in the principal amount of $1,065,303.00, interest in the amount of $133,917.40, attorneys fees of $0.00, costs of $0.00. RE: Certification of Registration of Foreign Judgment (within U.S)1 (shb)
That's not really a big liability, IF that's all that's really out there, BUT I provide no assurances or warranties that my search is complete or exhaustive....buy at your own risk....yada, yada, yada..
CAPC: Stewart's hints caused quite a flurry of conversation and speculation, but I don't think anyone had any good guesses as to what this mystery product could be. As for projections, he gave a vague prediction that this product could fuel double digit growth in 2018. Some investors were turned-off by Steart's attitude, which they considered to be arrogant.
I've looked into CAPC a few times over the years, but the hit or miss nature of their products was always kind of a drawback, in my more conservative low frequency trading style, I prefer to look for businesses that have some element of recurring revenue.
PESI: Treating that 3 gallons of waste was two years in the works, nothing moves fast of efficiently at the DOE. The company says they will save about $4 million in operating costs from closing their Oak Ridge treatment facility, so that should allow them to become profitable again, if all else remains equal.
CAPC: I met Stewart Wallach at the Microcap Club Leadership Summit in September, he was teasing a new product launch near year end under the Hoover private label, the only clues he gave were that it's something every house has 3-5 of and it's something he thinks LED lighting could bring major disruption to.
I've never owned the stock, but bought some of their Duracell puck lights on clearance at Costco.....they're are surprisingly amusing to my nine year old who keeps moving them around the house and illuminating random objects in different colors.