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PTII - Have you guys seen this? My calcs come up with $3/share without even considering PTII's current assets/operations.
otcbargains, re: GAMM
I love the stock. Their profitability might see some blips as their Tyche release nears and amortization isn't as beneficial. But the story is there. Strong margins, burgeoning industry, costs under control, few shares out. They even had a share buyback in place, but not sure if they're still active on it.
As for PR's, that's their biggest problem imo. Nobody knows what they do!
bbotcs: Napolion knows his stocks. You should give him the benefit of the doubt. I have no position in the stock he mentioned fwiw.
GAMM posts .07 EPS; was a .20 stock
http://www.sec.gov/Archives/edgar/data/1096050/000111650205001977/global-10qsb.txt
SPND = Spindletop O&G...sorry for the omission.
Spindletop Oil&Gas .06 vs .04
Fully taxed. Net of cash, the stock is cheap. Still reading 10Q...
SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
As of
-------------------------
June 30,
2005 December 31,
(Unaudited) 2004
----------- -----------
ASSETS
Current Assets
Cash $ 4,953,000 $ 4,352,000
Accounts receivable, trade 619,000 617,000
Prepaid income tax - 190,000
----------- -----------
Total Current Assets 5,572,000 5,159,000
----------- -----------
Property and Equipment, at cost
Oil and gas properties (full cost method) 6,342,000 5,983,000
Rental equipment 399,000 399,000
Gas gathering systems 145,000 145,000
Other property and equipment 113,000 102,000
----------- -----------
6,999,000 6,629,000
Accumulated depreciation and amortization (4,346,000) (4,059,000)
----------- -----------
Total Property and Equipment, net 2,653,000 2,570,000
----------- -----------
Real Estate Property, at cost
Land 688,000 688,000
Commercial office building 1,298,000 1,298,000
Accumulated depreciation (18,000) (1,000)
----------- -----------
Total Real Estate Property, net 1,968,000 1,985,000
----------- -----------
Other Assets 1,000 1,000
----------- -----------
Total Assets $10,194,000 $ 9,715,000
=========== ===========
The accompanying notes are an integral part of these statements.
- 3 -
SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS - (Continued)
As of
-------------------------
June 30,
2005 December 31,
(Unaudited) 2004
----------- -----------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Notes payable, current portion $ 120,000 $ 120,000
Accounts payable and accrued liabilities 1,643,000 2,068,000
Income tax payable 60,000 -
Tax savings benefit payable 97,000 97,000
----------- -----------
Total current liabilities 1,920,000 2,285,000
----------- -----------
Notes payable, long-term portion 1,560,000 1,680,000
----------- -----------
Deferred income tax payable 556,000 461,000
----------- -----------
Shareholders' Equity
Common stock, $.01 par value; 100,000,000
Shares authorized, 7,677,471 shares
issued, and 7,565,803 outstanding at
June 30, 2005 and at December 31, 2004.
111,668 shares of Treasury Stock at
June 30, 2005 and at December 31, 2004. 77,000 77,000
Additional paid-in capital 806,000 806,000
Treasury Stock at average cost of $0.405
per share (45,000) (45,000)
Retained earnings 5,320,000 4,451,000
----------- -----------
Total Shareholders' Equity 6,158,000 5,289,000
----------- -----------
Total Liabilities and Shareholders' Equity $10,194,000 $ 9,715,000
=========== ===========
The accompanying notes are an integral part of these statements.
- 4 -
SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
Six Months Ended Three Months Ended
----------------------- -----------------------
June 30 June 30 June 30 June 30
2005 2004 2005 2004
----------- ----------- ----------- -----------
Revenues
Oil and gas revenue $ 2,450,000 $ 1,830,000 $ 1,318,000 $ 919,000
Revenue from
lease operations 65,000 68,000 28,000 30,000
Gas gathering, compression
and equipment rental 86,000 79,000 48,000 50,000
Real estate rental income 141,000 - 70,000 -
Interest income 55,000 48,000 29,000 25,000
Other 12,000 7,000 10,000 4,000
----------- ----------- ----------- -----------
Total revenue 2,809,000 2,032,000 1,503,000 1,028,000
----------- ----------- ----------- -----------
Expenses
Lease operations 565,000 597,000 332,000 301,000
Pipeline and rental
operations 22,000 18,000 5,000 7,000
Real estate operations 122,000 - 61,000 -
Depreciation and amortization 303,000 174,000 184,000 98,000
General and administrative 530,000 319,000 289,000 138,000
Interest expense 54,000 - 27,000 -
----------- ----------- ----------- -----------
Total Expenses 1,596,000 1,108,000 898,000 544,000
----------- ----------- ----------- -----------
Income Before Income Tax 1,213,000 924,000 605,000 484,000
----------- ----------- ----------- -----------
Current tax provision 249,000 169,000 140,000 156,000
Deferred tax provision 95,000 - 40,000 -
----------- ----------- ----------- -----------
344,000 169,000 180,000 156,000
----------- ----------- ----------- -----------
Net Income $ 869,000 $ 755,000 $ 425,000 $ 328,000
=========== =========== =========== ===========
Earnings per Share of
Common Stock
Basic $ 0.11 $ 0.10 $ 0.06 $ 0.04
=========== =========== =========== ===========
Diluted $ 0.11 $ 0.10 $ 0.06 $ 0.04
=========== =========== =========== ===========
Weighted Average
Shares Outstanding 7,565,803 7,569,970 7,565,803 7,565,803
=========== =========== =========== ===========
Diluted Shares Outstanding 7,565,803 7,619,833 7,565,803 7,590,528
=========== =========== =========== ===========
Oil Sands extraction
Len - thanks for your reply and the PM.
I came across an interesting angle on oilsands. One that involves extracting the oil from the sand itself, which is generally considered a difficult task requiring a lot of water and producing a lot of toxic/non-toxic waste. Of course it's a pinkie with little visibility into its operations, but it's very interesting nonetheless.
SQNC's product, DiamondFlo, extracts the oil and leaves little waste. Sounds like a potentially huge market (aka zipcodechanger!) if it were to become accepted in the mainstream.
--------
Sequoia Interests' DiamondFlo Extracts 95.6% of Oil from Canadian Tar Sands in TPH Test
HOUSTON, Jun 14, 2005 (BUSINESS WIRE) -- Sequoia Interests Corporation (Pink Sheets: SQNC), developer of a new proprietary enhanced oil recovery and environmental remediation formulation - DiamondFlo(TM), is very pleased to report the company has received the Analytical Report from the Sam Houston State University Analytical Laboratory on DiamondFlo's effectiveness on Canadian Tar Sand samples. The report results determined that DiamondFlo displaced 95.6% of the oil in the tar sands.
A TPH (Total Petroleum Hydrocarbons) Test is the recognized industry standard for quantifying the mass of hydrocarbons in soil. Technicians at the Sam Houston State University Analytical Laboratory in Huntsville, Texas performed a TPH test on Canadian Tar Sand samples provided to Sequoia. The initial TPH test conducted on the raw tar sand sample indicated oil in the tar sand at a level of 19,605 mg/kg. After the application of DiamondFlo, another TPH test was performed showing that only 861 mg/kg oil remained in the tar sand. The DiamondFlo treatment had displaced 95.6% of the oil lodged in the sands.
The Canadian Tar Sands fields are recognized as the mother lode of hydrocarbons on Earth. Conservative estimates of oil reserves in the surrounding area of Fort McMurray, Alberta, Canada total 1.6 trillion barrels of oil, of which 330 billion barrels of oil are deemed recoverable. By comparison, Saudi Arabia has proven reserves of 262 billion barrels of oil. A primary difficulty in developing the Tar Sands region is extraction. The oil does not flow as crude from other oil producing regions but is more akin to a molasses-like sand. Separation of oil from the sands is the major challenge to development.
K. Daniel Efird, President of independent laboratory Efird Corrosion, said, "We suspected DiamondFlo would be effective on the tar sands based on earlier tests, but now we have quantified results as to the effectiveness of the formulation. From a scientific perspective, we are very pleased."
Mr. Ted Leslie, CEO of Sequoia Interests, said, "We are extremely pleased with these results. We see the Canadian Tar Sands as a major niche market for DiamondFlo due to its effectiveness and cost-competitiveness. We look forward to providing the solution to the Canadian Tar Sands project."
http://www.sqproducts.com/tar_sand.htm
http://www.sqproducts.com/testing.htm
http://www.diamondflo.com/
------
There's also a China angle here:
http://www.sqproducts.com/nickles%20daily%20oil%20bulletin%20sequoia.pdf
In August 2004, Sequoia announced it was entering into a memorandum of understanding with CoTech Ltd. Co., the U.S.-arm of China-based Xian HongJi Biochemistry Technology Co. Ltd., to pursue the licensing of DiamondFlo™ in China. The company expressed interest in using the product for remediation.
hweb - MVCO
Got a boost from Bush signing the highway bill, but just as importantly, a single MM had been holding down at 9.5, and he FINALLY gave way, it was like opening the floodgates.
Expecting SMID and WMSI to participate to some extent.
OT: tophat59, re: oil sands
Your post starting with "Steeledge in reply to your inquiry about..." was deleted. Can you re-post over at the zipcodechangers board? Thanks.
Oil sands...anybody have some good oil sands plays that trade here on the NAS, OTCBB, or u.s. OTCPK?
The foresight on this board is amazing. Y'all had oil sands pegged some time ago.
SMID - Finally showing that even boring concrete co's can participate as a fast-mover! Very happy to have added today.
As an aside, I sent a bunch of DD to Briefing.com on SMID, because they profiled TWIN; both co's should benefit from increased transportation spending.
As if CGNW needed any other reasons to be a $2 stock.
researcher, re: SPND
Actually, they filed a 10Q/A to revise their EPS to .06 last quarter. But I am now at the point of valuing these o/g's against their peers, not against a perception of what PE should be. Earnings in 2 weeks should indicate a trend.
SPND-Anybody follow this nice small o/g co.? Haven't seen it mentioned anywhere.
Spindletop Oil & Gas Co.(OTCBB: SPND.OB) is an independent oil and gas company engaged in the exploration, development and production of oil and natural gas; the rental of oilfield equipment; and through one of its subsidiaries, the gathering and marketing of natural gas.
The Company has focused its oil and gas operations principally in Texas, although we operate properties in six states including: Texas, Louisiana, Oklahoma, Arkansas, Alabama, and New Mexico. We operate a majority of our projects through the drilling and production phases. Our staff has a great deal of experience in the operations arena. We have traditionally leveraged the risks associated with drilling by obtaining industry partners to share in the costs of drilling. However, we typically retain a controlling interest in the prospects.
In addition, the Company, through PPC, owns approximately 26.1 miles of pipelines located in Texas, which are used for the gathering of natural gas. These gathering lines are located in the Fort Worth Basin and are being utilized to transport the Company's natural gas as well as natural gas produced by third parties.
The Company has operations and well interests in 16 states; however, the majority of reserves (86%) are located in Texas.
A breakout of the Company's most significant reserves by geographic area is as follows:
Fort Worth Basin Texas 1,886,429 BOE 69.67 %
East Texas 131,617 BOE 4.86 %
Gulf Coast Texas 189,889 BOE 7.01 %
- 3 -
Panhandle Texas 45,076 BOE 0.75 %
West Texas 87,914 BOE 3.25 %
Alabama 17,353 BOE 0.64 %
Arkansas 29,650 BOE 1.10 %
Kansas 24,149 BOE 0.89 %
Louisiana 111,371 BOE 4.11 %
Michigan 1,112 BOE 0.04 %
New Mexico 51,941 BOE 1.92 %
North Dakota 3,273 BOE 0.12 %
Oklahoma 122,641 BOE 4.53 %
Wyoming 29,944 BOE 1.11 %
Total 2,707,682 BOE 100.00 %
Proved Developed Reserves:
--------------------------
Balance December 31, 2002 152,994 4,976,890
Balance December 31, 2003 365,230 4,978,309
Balance December 31, 2004 389,851 6,887,978
Rox, More power to ya! Diversification is for the lazy!
Winkie for Bob and Len
SMID - no matter how you slice it, they're probably undervalued by a factor of 2 based on past results, backlog, and anticipated growth in their industry. Didn't manage to pick up any more shares in the dip to 2.40, but had a bid in there. Willing to sock this one away for awhile.
CGNW - Investors and Traders alike are looking hard for value plays. I'm seeing a lot of traders "slumming" in OTC land, perhaps because they're not finding the value elsewhere. AMEX is getting some action similarly.
CGNW is just a great story, with everything going for it except a temporary blip in their balance sheet. The mall launch is really a gem, even though I concede that there probably are some startup costs to be absorbed this quarter. On a trailing basis, we could be trading at $2 and still have a PE of just 20.
It's due for a big .25-.30 cent pop soon.
Mike, Could easily go on and on, but I will make only one point here. Learn how to play both sides of the market (long/short) with near-equal comfort. Without that, you will be in for extended periods of time where returns are low or negative. And if your lifestyle has to be curtailed as a result, it's the type of situation that can result in increased risks-taken, and that's usually not a good plan.
Hey Yield...EKCS
I have a nice position here too. A battle (or volume manipulation) going on in the 1.56-1.58 area, with GNET manning both sides. It's gonna pop one way or the other with force IMO.
Still liking the CGNW and FPPC here, added WEGI today, and playing around with MOTG.OB and hoping that a portion of management's projections come true.
take care.
otcbargains, re: CGNW
The best way would be to report another great quarter, then do an offering. Maybe they wouldn't need an offering, but it would allow them to expand faster and clean up their balance sheet immediately.
The launch of their new mall is great news. I really like how the CGNW network is set up.
VPF - anybody follow this one? Nice balance sheet and turnaround in EPS. Net of cash the stock looks cheap.
cash: 1.62/share
book: 2.57/share
shares out: 4.2M
float: 1.8M
From earnings PR:
Gross margin was $1,056,000, amounted to 35% of sales and was the best of any quarter in the last several years.
Operating profit was $115,000 due to excellent factory execution, as well as a favorable sales mix.
Net earnings from continuing operations amounted to $96,000 or $.02 per share versus a $23,000 net loss or ($.01) per share in the 2nd quarter of 2004.
Cash increased $451,000 to $6,835,000.
For the six months ended July 3, 2005, net sales amounted to
$6,037,000 compared to $5,918,000 for the same period last year.
Net earnings from continuing operations for the six months ended July 3, 2005 amounted to $141,000 or $.03 per share versus a net loss of $160,000 or $(.04) per share during the same period in 2004.
Mr. Ferrantino added, "In June, we received word from one of the largest microwave telecommunications companies that we qualified a frequency modulator, our first major Integrated Sub System win. We expect low volume shipments to start in Q3 2005 and production quantities to start in Q4 2005. This account next year has the potential to be one of our largest customers."
In FPPC. Hoping for a similar move as in ASPN/CHAR. BSIC could do it too. There's a thirst for microcap oils right now.
FPPC nice volume, and approaching breakout.
researcher, re: CGNW & volume
If only my buying had something to do with it, that would be great! I don't post too much here, because a goodly % of my plays don't qualify, but I'll say this, I don't have too many losers. I'm pretty picky with what I choose to take a position in (that term is a key here; I don't do nearly as well with intra-day trades), and they usually work out.
Being picky allows me to take larger positions in stocks that enamor me with their story, and then hopefully reap the benefit of this effort. I hope it works out for CGNW because I haven't done my customary amount of DD just yet!
Bob, re: CGNW
Don't have any real insight about what might be coming for CGNW, but it wouldn't surprise me to see their earnings take a downtick due to expenses related in lauchning this great new site PR'd yesterday.
Have you or anybody figured out what the real float is? Gets a little confusing looking at the 10K, with the cross-ownerships. There's also that mysterious 16% holder mentioned at the bottom of that section.
My suspicion is that the real float is more like 2.5M, compared to what Yahoo is showing.
CGNW - 15x average volume. Microcaps w/ good earnings & fundies are getting rewarded...finally!
CGNW - Building a position today after refreshing my memory on their crazily undervalued financials and yesterday's AH release of LowestCostMall.com. With AMZN igniting online retailers, CGNW's news was timely.
Cognigen Networks Launches LowestCostMall.com:
Tuesday July 26, 5:53 pm ET
Online Site Offers Thousands of Deeply Discounted Products
http://biz.yahoo.com/prnews/050726/sftu144.html?.v=10
deathtotaxes, re: EKCS
I'm not one to toss around price targets just to make eyebrows raise. If the "if's" come true in mgmt's earnings projection, then one has no choice but to value such stellar growth with a strong PE. A PE of 25 on .40 eps is, well, $10.
I do appreciate the information and warnings presented in the 2 replies to my post. Regardless of their actual revenue amounts, it is bullish to see their backlog at record levels (latest 10Q), and there's no doubt that they're in the right sector at the right time.
gilead, re EKCS
Good input. I just find it compelling that the company would put up gaudy #'s in front of a investment community, and then make it "official" in an SEC 8K.
If they were to earn 1/2 of what they project, they're still undervalued somewhat for 2006, but by at least a factor of 2 for 2007.
EKCS trading at forward PE of 4 if you lend credence to management's projections in their 8K filed on 6/24:
http://biz.yahoo.com/e/050624/ekcs.ob8-k.html
Estimate of .22 EPS for 2006, .40 EPS for 2007.
The stock was up a little today on its biggest volume day since Nov.2004, expecting more movement for the rest of the week.
Some potential dilution could be seen down the road in the form of preferred conversions, but nothing that would make me shy away from establishing a position here.
$2.5 near-term target, $4 intermediate-term target, $10 long-term target.
VTEK - So much going for this stock. All the pieces of the puzzle are bullish, save perhaps explosive topline growth. But they have strong profitability, low PE, good cash position, no debt, few shares outstanding, substantial share buyback in place ($1MM), and forward looking statements indicating strong growth is expected in their higher-margin IP-based products.
Earnings should be out sometime next week. Potentially a tough comparison (.11 EPS), but a little topline growth goes a long way when considering # of shares.
Bob - Are you high on any Canadian Juniors that are co-listed on the OTCBB instead of the OTCPK?
TIA
ACSEF going because of BOSC. ELSE doing well on value angle, AUGT holdings, and purported Briefing.com mention coming.
BSIC - Intense trading session with strong volume.
ARTW - no position here, but EPS down almost exclusively due to being taxed this quarter, and not taxed last year. Backlog was down a bit, as was gross margin.
BSIC - should test 2 today. Formidable wall to get thru, but would signify a strong breakout despite some near-term overbought levels.
DEVC/IPII/WEGI
Obviously WEGI is not in the same class as DEVC and IPII, at least not in terms of "quality". But for my dollar, the risk/reward favors WEGI. .06 downside, .25+ upside (from .09).
bones, re: WEGI
I think you're right. My quick reading of the PR language made me overlook the December quarter. Nice find.
I think that, despite the risks w/ the re-fi (primarily dilution), .15 would be a reasonable price in a hype-free environment. But keep in mind we're dealing with an almost exact duplicate (on a smaller scale) of VSR, AND there's the Fla hurricane situation which both act as potential impetuses here.
Volume on Friday was the highest since February, so we'll see if that continues into next week.
WEGI starting to look perky after what happened to VSR and the impending hurricane whipping FLA.
Nice to see that WEGI did $2.8MM out of the FLA hurricanes alone last year. Thanks for that link bones.
yield/bones, re: WEGI
Do you guys have a feel for what WEGI's presence is in Florida?
The stock sure trades thin for having so many shares out.
PYOL - 4.8 Serious breakout in the works. Another TVOC perhaps? Heck, I'd settle for another SNR since that's where this new investor came from.