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According to Google Finance, Gene Kostecki is only 66 years old.
Can anyone point me to some commentary on the Indonesian plant, or summarize it for me?
Just stumbled upon this line from David Pinsen's June 2011 SA article:
The issues I see in CDOC's motion to dismiss are (1) they make no mention of the insider/informant who allegedly brought this to Plaintiffs' attention and (2) they state they disagree that the vote was illegitimate but they don't detail why.
At least he labeled them correctly: (Acquired)
I'm not sure why Kruger is reporting a September purchase in May. I think you're supposed to report within a day or two of the transaction.
Just do that every afternoon WallStBull
At $1.65, IVFH is up 18% from today's low of $1.40. Days like this are routine for IVFH, as everyone here knows. This volatility tells me that (A) the stock is small and (B) no one really knows how to value it.
He should've checked the "Officer" box, too.
Are the company's quarterly releases in AUD or USD?
I can't find any mention in the release itself, so I'm assuming it's USD.
I think most of these tiny companies don't get their quarterlies audited. Probably just a way to save money.
Anyone have any insight into the 16% drop over past month? I don't seen any news corresponding to it.
What price would you sell at?
$3? $5? $2? Not selling?
Nevermind - I found it on page F-13 of Annual Report.
Preferreds convert at $1.50/share, which is nice considering current price is $0.43.
What are the terms under which Kruger and Rosene's preferreds convert?
I understand they each are entitled to 1,666,667 shares of common, but haven't been able to find the info on when/how/what price.
In researching GLGI, it appears to me that the $10.4M in debt is chiefly to blame for the low valuation. I wonder if the members of this board agree.
Trouble interpreting wording on p. 12 of Annual Report...
200 volume today? A delay in reporting, a glitch on exchange, or no agreement between bid and ask?
@Hood I hope you share your winnings with me since I just helped you out big time ;-D
@Hood I wonder if you really have read the lawsuit.
Iroquois contends that THEY DID NOT KNOW they had been duped, and that they only found out about it when a former CDOC corporate insider told them that they were "owed many millions of shares and a re-pricing of their warrants" in the spring of 2013, less than a year ago. Your position that Iroquois waited until the company turned around implies that you believe Iroquois is lying in their lawsuit about how they found out about the alleged wrongdoing. I think you have not thought this through so clearly. If you believe Iroquois is lying in the lawsuit then take that stance. If you don't believe that, then your present stance is not consistent.
I go over all this in the article.
The gist of the article is exactly this: I BELIEVE Iroquois.
And to say 50% or 67% dilution is the same is a strange statement from someone who is telling me I need to learn more about investing. As I stated in my previous post, IT IS A 33% DIFFERENCE.
If you go from having half of the pie to having a third of the pie, that is a 33% drop:
(50-33) / 50 = 33%
From what I gather, the average article on SA earns $70-$75 for its author.
I would encourage Hood, or anyone else who remains bullish on CDOC, to write a thoughtful thesis and submit to SA. Or even just bring your disagreements into the conversation via the Comments section of the article -- in a THOUGHTFUL way.
Why not challenge me on the points I make rather than calling me a "dumbass kid"? Hood of all people should be THANKFUL for my article, because it's created an opportunity for him to buy more shares at lower prices, which he says he is doing. Why is he mad, then? It could only be because he is not so sure of his own thesis.
I think I have read just about every comment about the Iroquois lawsuit on the Net, as well as reading the entire lawsuit, of course. I have not seen a single person (besides myself, now) who caught on to the possibility of 67% (not 50%) dilution via the re-instating and re-pricing of the Plaintiffs' warrants. That is NEW information. It SHOULD bring the price down. Theoretically, it should bring the price down 33%. Now, if I have misread the lawsuit, I would love to hear someone make that case using evidence.
I wrote the SA article, Coda Octopus Group: Cheap, Moat-Protected, And In A Pinch.
The chief NEW point I brought out was that people have been underestimating the amount of dilution which can occur as a result of this lawsuit, because they have not been factoring in the warrants, which Iroquois & Plaintiffs believe should be re-priced, likely at staggeringly low levels.
But I did not totally pan the company by any means. Its valuation is already so low, that much pessimism has been priced in.
My basic conclusion was more nuanced: the near-term future is too murky for me.
Anyone else ever thought about gun buyback arbitrage?
I sold out -- the future is too murky with this lawsuit and debt coming down the pike.
"Plastic pallets are much more expensive then Wood. [Kruger] goes over this in detail in the presentation, which is why for low cost/low margin products shipping via wood pallets still makes sense and will always have its place."
-Ian Cassel, Comment #234
CDOC needs to be bought, I think. The buyer would have to negotiate with Iroquois and the convertible debt holder/s.
Without a buyer, I am having a hard time seeing how this thing resolves well.
Thank you for your constructive criticism.
I think the smartest way to try to get to the bottom of any situation is to yes, look at material straight from the source, but also look at as many different opinions as there are out there. Why would anyone want to shield themselves from others' points of view in trying to get to the truth?
I'm working on a Seeking Alpha write-up. Not sure if they will accept it though, maybe they don't let Pink Sheet stocks get profiled?
Can anyone point me to a good summation of the Iroquois lawsuit and/or the coming convertible debt maturity?
Re: convertible debt
Why couldn't CDOC just borrow a few million $$ to cover the difference between their excess cash and the $15-$16M owed? It seems this would be better for shareholders, because they could avoid all dilution.