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I was on a cruise with my wife when I met an SEC investigator. I asked the individual why did it take so long for Bernie Madoff to be prosecuted since so many people had complaint to the SEC about his questionable financial statements.
I was told the SEC is very understaffed therefore overburden causing many cases not being investigated for several years if at all. In the case of Bernie Madoff some of those who tried to bring him down actually feared for their lives. Whistle blowers brought his questionable financial practices to the attention of the SEC for several years during which time 100s of millions of dollars were handed over to him by investors that they eventually lost.
FNDM last traded at a lot less then I paid for shares in it last year, which I sold shortly there after for a profit. The question now is, is this the time to buy back in. Using the profits I made in it Hmmmm!!
I signed a class action suit against one of Donald Trump's casino company's and never received a cent. The lawyers took it all.
If so why is nobody picking up the shares offered at $1.85.
Shareholders glad to see things are going your way for a change. Hopefully this will shut up Rzbern. I do not hold any shares in Petro Rio S.A. haven't for a long time. The shares are trading well below my average selling prices. I took a hit on the shares I sold, but this could be an opportunity to finally make money in the company.
I was referring to the phantom poster not Burke.
Even though I no longer have shares in FNDM. I do check this board once in awhile to see what is going on.
I know from experience that this is not the way things are done. FNDM is way behind in taking the necessary steps to distribute any settlement monies. A lot has to take place before that will happen.
I has been my experience in the past that usually prior to any settlement results a company's share price closely reflects it.
Anyone who has purchased shorted naked FNDM shares will be unable to precipitate in any distribution of the proceeds of any FNDM court settlement. Everyone by now should have been requested by FNDM to provide brokerage written proof of their legitimate claim of ownership of FNDM shares in order to receive their legitimate share of the proceeds of the court action.
I have been involved in situations regarding two companies so I know the amount of paper work it took to establish my right for compensation. Something I see lacking regarding FNDM. I once owed shares in FNDM, the fact that they did not delist FNDM shares as they in my opinion should have because of the completion of the court case in my opinion is a reason for consideration as to whether to remain a shareholder in the company.
Horizon Technology Finance Provides Investment Portfolio Update
Wed January 13, 2016 4:15 PM|GlobeNewswire | About: HRZN
Achieves Over 20% Portfolio Growth With 2015 Loan Originations Exceeding $123 Million
98% of Loans Funded in 2015 at Floating Rates; Portfolio Well Positioned to Benefit From Rising Rates
Warrant and Equity Positions in 89 Portfolio Companies
FARMINGTON, Conn., Jan. 13, 2016 (GLOBE NEWSWIRE) -- Horizon Technology Finance Corporation (NASDAQ:HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services and cleantech industries, today provided a portfolio update for the fourth quarter and year ended December 31, 2015.
During the fourth quarter, we continued to successfully execute our core investment strategy of directly originating high quality floating rate growth capital loans, said Gerald A. Michaud, President of Horizon. We funded seven new floating rate loans, further enhancing our ability to generate strong returns and to operate in a rising rate environment. Complementing this success, we continued to experience positive liquidity events from our existing portfolio of loans, equity and warrants.
New Loans Funded
Horizon funded seven new loans in the fourth quarter of 2015 totaling $18.5 million, and 37 new loans totaling $123 million for the year. Horizon funded the following loans in the fourth quarter:
•$4.0 million to an existing portfolio company, a provider of technology-enabled signal detection solutions in global clinical trials of treatments for central nervous system disorders.
•$4.0 million to a new portfolio company, Skyword Inc., a leading content marketing software and services company.
•$3.0 million to a new portfolio company, Digital Signal Corporation, a leader in human identification and identity management solutions.
•$2.5 million to an existing portfolio company, NinePoint Medical, Inc., a developer of medical devices for advanced optical imaging.
•$2.5 million to an existing portfolio company, The NanoSteel Company, Inc., a leader in nano-structured steel materials design.
•$1.5 million to an existing portfolio company, a services and software solution provider that helps districts and schools develop and implement personalized learning strategies.
•$1.0 million to an existing portfolio company, Bridge2 Solutions, Inc., a leading provider of marketing and fulfillment solutions for enterprise loyalty rewards programs.
Liquidity Events
During the quarter ended December 31, 2015, Horizon experienced liquidity events from three portfolio companies, increasing the total number of portfolio companies with liquidity events to 17 for the year. Liquidity events for Horizon may consist of the sale of warrants or equity in portfolio companies, loan prepayments, sale of owned assets or receipt of success fees.
In October, IT Professional Solutions, Inc. prepaid the outstanding principal balance of $1.8 million on its venture loan, plus interest. Horizon also received a success fee of $325,000 as a result of the successful sale of IT Professional Solutions during the fourth quarter.
In November, Horizon terminated warrants upon the sale of NexPlanar Corporation in consideration for gross proceeds of approximately $130,000.
In December, Lotame Solutions, Inc. (Lotame) prepaid the outstanding principal balance of $6.3 million on its venture loan, plus interest, end-of-term payment and prepayment fee. Horizon continues to hold warrants in Lotame.
Refinanced Principal Balances, Early Principal Payoffs, and Principal Payments Received
As noted above, Horizon experienced early pay-offs during the fourth quarter of 2015 totaling $8.0 million, compared to early pay-offs totaling $16.4 million during the third quarter of 2015. During the fourth quarter of 2015, Horizon received regularly scheduled principal payments on investments totaling $7.9 million compared to regularly scheduled principal payments totaling $5.8 million during the third quarter of 2015.
Commitments
During the quarter ended December 31, 2015, Horizon closed new loan commitments totaling $12.0 million to three companies, compared to the quarter ended September 30, 2015, wherein Horizon closed new loan commitments totaling $28.0 million to five companies.
Pipeline
As of December 31, 2015, Horizon's unfunded loan approvals and commitments (Committed Backlog), all priced at floating interest rates, were $18.5 million to seven companies, compared to a Committed Backlog of $22.5 million to nine companies as of September 30, 2015. While Horizon's portfolio companies have discretion whether to draw down such commitments, the right of a portfolio company to draw down its commitment is often subject to achievement of specific milestones and other conditions to borrowing.
Warrant and Equity Portfolio and IPO Activity
As of December 31, 2015, Horizon held a portfolio of warrant and equity positions in 89 portfolio companies, including 76 private companies, which provides the potential for future additional returns to Horizons shareholders.
On November 12, 2015, Xtera Communications, Inc. (NASDAQ:XCOM), a portfolio company, completed its initial public offering.
About Horizon Technology Finance (HRZN)
Horizon Technology Finance Corporation is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies within the technology, life science, healthcare information and services, and cleantech industries. The investment objective of Horizon is to maximize total returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants that it receives when making such loans. Headquartered in Farmington, Connecticut, Horizon has regional offices in Walnut Creek, California and Reston, Virginia. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit http://www.horizontechnologyfinancecorp.com.
Forward-Looking Statements
Statements included herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contact:
Horizon Technology Finance Corporation
Christopher M. Mathieu
Chief Financial Officer
(860) 676-8653
chris@horizontechfinance.com
Investor Relations and Media Contacts:
The IGB Group
Leon Berman
(212) 477-8438
lberman@igbir.com
Source: Horizon Technology Finance Corporation 2016 GlobeNewswire, Inc.
Has anyone got a clue as to what could have caused such an increase in trading volume today.
There is something wrong here if there is a settlement and proceeds are to be distributed in the near term to shareholders, the shares should be halted. At least 30 days prior to any distribution. So that the company can check to make sure their NoBo list of shareholders and their addresses are correct.
I do hope you guys come out on top of this. I have had similar experiences with two companies, which involved the SEC even so in one case it took 10 years to receive justice.
Dear Oil & Energy Investor,
This week saw further signs that Saudi Arabia is rethinking its oil production strategy. As we've covered in Oil & Energy Investor before, last year Saudi Arabia led OPEC into a strategy of ramping up production to defend market share against U.S. shale oil and Russian oil exports to Asia.
As I discussed in Friday's Oil & Energy Investor, OPEC's strategy not only failed to destroy the U.S. shale oil industry, but has also led to the U.S. and Russia cooperating behind the scenes to make Saudi Arabia abandon its strategy.
The behind-the-scenes negotiations with the U.S. and Russia that I discussed on Friday, along with pressure from other OPEC members who need much higher oil prices to balance their budgets, seem to be working. Following Qatar's oil minister claiming that OPEC will consider Venezuela's request for an emergency OPEC meeting on boosting oil prices, reports now indicate that Saudi Arabia would consider such a meeting if it resulted in concrete action to increase crude prices.
This marks a change from Saudi Arabia's previous stance, which was to shoot down any suggestion of an OPEC meeting to discuss oil prices.
This is yet another sign that OPEC might be changing strategy while allowing Saudi Arabia to save face. I will keep you updated as the situation develops.
Kent
Dear Oil & Energy Investor,
This week saw further signs that Saudi Arabia is rethinking its oil production strategy. As we've covered in Oil & Energy Investor before, last year Saudi Arabia led OPEC into a strategy of ramping up production to defend market share against U.S. shale oil and Russian oil exports to Asia.
As I discussed in Friday's Oil & Energy Investor, OPEC's strategy not only failed to destroy the U.S. shale oil industry, but has also led to the U.S. and Russia cooperating behind the scenes to make Saudi Arabia abandon its strategy.
The behind-the-scenes negotiations with the U.S. and Russia that I discussed on Friday, along with pressure from other OPEC members who need much higher oil prices to balance their budgets, seem to be working. Following Qatar's oil minister claiming that OPEC will consider Venezuela's request for an emergency OPEC meeting on boosting oil prices, reports now indicate that Saudi Arabia would consider such a meeting if it resulted in concrete action to increase crude prices.
This marks a change from Saudi Arabia's previous stance, which was to shoot down any suggestion of an OPEC meeting to discuss oil prices.
This is yet another sign that OPEC might be changing strategy while allowing Saudi Arabia to save face. I will keep you updated as the situation develops.
Kent
DrillaHill it is amazing how NT has been able to keep quite and out of the media the coming deal with Rosnalft and Petro Rio's massive oil drilling plans for the Walvis Basin.
I have my position now and I am looking forward to the announcement.
I imagine you will be approaching PinnacleDigest at some point soon. After you mention StarGazer to them you can start working together. There are hugh opportunities in Vancouver for film companies and great financial benefits from having your company's shares listed here. There is no hurry to do so, since Canadians can buy pink listed Amer. companies.
Petie it is difficult to get in contact with them if you will send me an email and the time you will call me I will explain to you how it is done
So KK does not have to call me it will just be between you and I.
This not the way it works, I am 75 years old and I do not play games. Either call me or Forget About It. 604-599-6771. Who do you think you are KK Princess L.. send me an email as to when I can expect your call sat599@telus.net
I threw a message to Ms. Kates, and she stated to email your thoughts and ideas to Big@BigScreenEnt.com
LSTMF web site what a steal trading at .39CAD$ It is using it's current cash flow to pay down it's debt. It has some of the best people in CAD working for it.
http://www.lightstreamresources.com/
Subject: Financial Repression
The new catch phrase spreading across global media outlets has been the supposed imminent 'normalization' of interest rates. Strategically coined to make the Saturday morning reader assume 'normalization' means a return to 'normal' - intended to be reassuring - it is a terribly misleading phrase...
We are living in a new debt management paradigm that will not see a return to interest rates anywhere near 'normal' (3% for short-term and 5-6% for long-term debt) in many of our lifetimes.
There will be no 'normalization of rates' for decades as Financial Repression is here to stay for the long-term...
The Fed's next FOMC meeting is set for September 16-17th, so we won't have to wait long to see if Yellen's tough talk about raising rates evaporates into hot air, once again.
The Fed's Long Game: Financial Repression
We all know the QE/low rates narrative from 2009-2014: 'the monetary base expansion will create inflation', thus eroding our debts. Obviously, that hasn't happened - at least not yet. You see, the Fed is playing the long game. Financial Repression can take decades to run its course...
Relative to the size of the economy, the last time the US had debt anywhere near today's levels was in 1945. At that time, the US had debt equivalent to approximately 110% of GDP; and after over 20 years of Financial Repression, the country was able to shrink its debt to roughly 30% of GDP by the 1970s. The same tactic, and for the most part the same result, was achieved by the majority of developed nations who were in similar fiscal positions following WWII.
graph source: http://www.tradingeconomics.com/united-states/government-debt-to-gdp
Today, the US national debt has climbed to over $18.3 trillion, roughly $1 trillion more than annual US GDP.
Special note - unlike in the 40s, 50s and 60s, women will not be entering the workforce by the millions. Much of the purchasing power that was lost during these decades by men was made up for by these newly working women. An average American or Canadian family could get by fine on one salary in the 1950s; however, many now struggle to get by with two incomes.
Also, the USD lost substantial value against many currencies during this period, including the yen and the Swiss franc. Another devaluation of that scale is coming, slowly but surely.
US Dollar vs. Japanese Yen - 1960-2015
graph source: http://fxtop.com/en/historical-exchange-rates.php?YA=1&C1=USD&C2=JPY&A=1...
As you can see, the US dollar has lost near 70% of its value vs. the yen over the past 50 years. History is about to repeat itself as the strong dollar policy turns into the 'inflate away debt and try to survive' policy.
What makes this global currency war so epic (click here and here for our previous reports on the currency war) is that almost every developed nation is in a similar fight to devalue their respective currencies.
Remember it takes years, decades even, for the impact of Financial Repression to be felt. This is a gradual devaluation that can make a huge difference over time.
Financial Repression 101
Financial Repression (FR) was a term first introduced in 1973 by Stanford economists Edward S. Shaw and Ronald I. McKinnon who were famously quoted as explaining FR as "policies that result in savers earning returns below the rate of inflation."
source: http://www.chinadaily.com.cn/china/2015twosession/2015-03/10/content_197...
Carmen Reinhart, known for co-authoring the book This Time is Different: Eight Centuries of Financial Folly, with Kenneth S. Rogoff, co-authored a paper titled The Liquidation of Government Debt, with M. Belen Sbrancia in 2011. Sbrancia is currently an Economist at the International Monetary Fund.
The report is essential to the understanding of monetary policy in the 21st century - post Great Recession. It may help investors, large and small, position their resources in a manner that will build wealth, not destroy it in the years ahead. Below is a short excerpt:
"For the advanced economies in our sample, real interest rates were negative roughly ½ of the time during 1945-1980. For the United States and the United Kingdom our estimates of the annual liquidation of debt via negative real interest rates amounted on average from 3 to 4 percent of GDP a year. For Australia and Italy, which recorded higher inflation rates, the liquidation effect was larger (around 5 percent per annum)."
source: http://www.imf.org/external/np/seminars/eng/2011/res2/pdf/crbs.pdf
Remember those words: liquidation of debt. It may sound benign, but comes at a high cost... the erosion of our purchasing power.
Financial repression involves boosting government capital while at the same time reducing the real value of the national debt.
The method to achieve this is straightforward. When governments and central banks keep interest rates below the level of inflation (which they have done for half a decade) it represents an 'invisible tax' on savers. However, it benefits borrowers immensely as the real value of money, or purchasing power, is continually eroded.
This is the Fed's game plan. It has been the path of least resistance to this point as higher interest rates would crash the debt markets, make negative real interest rates impossible to achieve, boost the value of the US dollar and quell any hope of debt repayment. Any 'normalization' of interest rates to historical averages of 3% for short-term debt and 6% for long-term would send interest payments on the US national debt to roughly $1 trillion per year. That would hypothetically equate to more than 1/3 of all US government receipts (which totaled $2.79 trillion in 2014) received annually.
source: http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
The US government is already paying close to 20% of its total receipts to interest on its national debt... it can't afford to pay much more.
We live in a debt-based economy, and there is no turning back now.
In a column explaining Financial Repression in more detail, titled Financial Repression: Then and Now, written in March of 2012, Carmen M Reinhart and Jacob Funk Kirkegaard clarify the options:
"Throughout history, debt-to-GDP ratios have been reduced by:
• Economic growth.
• Fiscal adjustment and austerity plans.
• Explicit default or restructuring of private and public debt.
• "Surprise" inflation.
• Steady financial repression accompanied by steady inflation."
One just has to glance at the above list to know which route our respective governments are taking. Only one is politically convenient: steady financial repression, which will likely be interrupted by periods of"surprise inflation." This was the case in the post WWII era, finally peaking in the 1970s.
Read the other options to yourself again and imagine an environment where they would prove feasible for today's politicians. Cross off austerity and explicit default. You are left with economic growth. However, with the baby boomers retiring and birth rates at record lows, it will be difficult to attain strong GDP growth of higher than 3%...
Quantitative Easing Still in Play?
While QE officially ended nearly one year ago, the Fed's balance sheet has yet to contract.
At the end of Q1 2015 the Fed was holding $2,797.5 trillion in US government debt. That makes the central bank, by far, the US government's largest creditor.
Fed buys time with low interest rates
A more accurate explanation of what has transpired is that the Fed QE program has stabilized. The private bank now buys enough securities to replace the principle payment on receipts each month.
Each time a principal payment comes due the federal government quickly issues new debt (at currently low interest rates) to pay off the maturing debt. The Fed may not be expanding its balance sheet per se, but it isn't getting any smaller.
Don't be mistaken, the Fed can raise interest rates by 25 basis points... and it can do so two, maybe even three times over a couple years. However, without exceptional growth of 4-6% GDP for many years, it is extremely unlikely the Fed will raise interest rates to 'normal' levels of 3 or 4% and hold them there for any sustained period. It does not fit the Financial Repression model.
Instead of focusing on September or December's potential rate hike, try to look further into the future. Long-term planning, currency choices and asset allocation in a world of Financial Repression will all play vital roles in the success or failure of a 21st century portfolio.
Do you know why expiration dates are used on some products it is a sales
trick to move products faster.
Forget about it read my previous posts.
Do not do it read all of my previous posts.
Another two CAD$ stocks to consider way below their 52 week highs are AET.UN and PLT.UN both traded on the TSX stock exchange, both use to pay excellent dividends. By the way their operations are in the US, and I feel that with the steps that both companies have taken they will be amongst the survivors'
THE OIL SECTOR IN CAD IS ENTERING A BULL PERIOD!!
Tell KK I am just so damn busy I would like others to do that for me. But I will take the time to talk to her on the phone. I feel we can connect better that way on all levels, we can talk as long as she wants all she has to say is her name. My Phone No. is 604-599-6771 PT. I want her to design the promo and layout for the investment online publication. This will be an on going promotion for 6 to 12 months at no cost to your company.
PinnaleDigest needs you guys more then you need them. They usually charge 40,000$CAD to promote a company which they do obtain good results for them. A little bit of BS will go along way to get the service for free, besides Lionsgate was started in Vancouver and I believe their home office is still here a great many films are made in and around Vancouver, we also have a large Asian community lots of opportunities for film makers.
Just say to KK this is a message from StarGazer!!
I am associated with a free Canadian financial online edition called PinnacleDigest. We feel you could make a good fit for our publication.
So could you arrange to have the company copy and paste an article in this message post that you would like to be featured in PD.
Buy CAD Oil Stocks for example CPG, BTE and LSTMF all trading under those symbols in US$. All way off their 2014 Highs Amer. Hedge Funds very worried .Time to BUY!!
OPEC monthly oil output falls in August
http://www.marketwatch.com/story/opec-monthly-oil-output-falls-in-august-2015-09-08
ENERGY!!
Canadian oil producers among first in the
world to yield to low prices and turn off taps
http://business.financialpost.com/news/energy/canadian-oil-producers-among-first-in-the-world-to-yield-to-low-prices-and-turn-off-taps?__lsa=2491-f60f
LSTMF currently trading at .43 CAD was once a $31CAD dollar stock it is going much Higher as are all other Canadian Oil stocks. Smart money is buying Canadian oil stocks. They are going into a bull market!!
SELL!! SELL!! SELL!! LSTMF
This company is toast, they are going into Chapter11. The company should be wrapping up it's affairs by the end of the month!!
We want to see some trading activity with volume before looking further into the company.
We move fast us Canadians show us that there is some meat on the bone soon or we will move on. Our government is deeply involved in the film industry with deep pockets,we can make it happen!! The share price looks ridiculous.
Vancouver where I live has a very thriving film industry and I know film people on the look out for new projects. Could you post pictures of your projects in message boxes with explanations going with them.
Thank you!!
Still find it hard to believe the low share price, that certainly would not be the case in Canada.
Why is the stock price so low???
Thank you I will but not till after Labour Day a National Holiday in Canada. Which is this Monday.
I am a Canadian and am having trouble finding info on the company. I can't understand why the board is so still.
What is the float of BSEG and how good are their financials.
It could be an involvement with Lionsgate.