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wade: re UVIH, I am awaiting a callback from Brad Meier, CEO, to get further clarification on potential reinsurance rate increases. But in going back 3 years I found that rates were decreased at June 1 in each of the past 2 years, even last year after the disastrous hurricane year of 2004. Evidently as the Company has grown and managed to take a larger share of the claims, they've gotten lower rates ! Of course this year may be different, given two consecutive bad years for reinsurers ...
Stock still looks cheap at .90, given EPS of $.08 in Q3 and the dramatic trend of increased earned premiums over the past 3 quarters .... $1.2M in Q1, $2.8M in Q2 and $5.9M in Q3 .... and probably they're still writing more policies, and in any event new policies written in Q3 were earned pro-rata for the period and will increase earned premiums for Q4. Of course taxes are looming by Q2 of this year, but if this kind of growth continues, it won't matter. There's loads of high premium homeowners insurance business out there for UVIH to snap up since the large carriers are reducing their over-exposure to Florida.
XLE just broke over the September high of $54.65 .... LEAPs on the energy index ETF are a great way to play the large caps in the o&g sector. At the money calls out to Jan '07 are currently asking $6.00, and out to Jan '08 asking $8.80. That's only 11% and 16% premiums for a lot of leverage on the big caps .... trailing PE is still under 11 and that represents the lower oil and gas prices of the past year. Lots of liquidity in these options, plus the '08's can be held past 12 months for long term capital gains tax rates !
XLE LEAPs are my largest option position.
linuspop: SVL, now at 3.03, has corrected significantly from a recent high of $4.30. It's now trading back under tangible book value of $3.10 per share ... and book value surely understates the value of their real estate given it's reported as 'the lower of cost and market value'. I'll start buying back shares in the high 2's .... still have about 70% of my peak holdings, but wish I'd sold more in the low 4's ...
wade: EGY liftings were below normal last quarter .... that will limit EPS for Q4, but shift profits into Q1 .... I don't have a specific estimate. Tax rate is variable with EGY depending on Gabon exploration credits, etc. But overall I'd say the stock is cheap in the mid $4's based on prospects for this year. Fully taxed and diluted EPS was $0.20 in Q3.
niles: EGY news was good, but nothing too outstanding, so I'd be happy if the stock traded around $5 tomorrow after closing at $4.62 today. Nonetheless when I saw the PR just before the close I quickly added a few shares at $4.65.
I like the fact that the Company is focussed on growth, and the PR could spark a rally to new highs. Avouma production is still many months away, but the market is forward looking .... and the other new ventures could also bear fruit ! The stock greatly underperformed the o&g sector last year and is overdue for some outperformance, imho.
EGY extends ETAME contract and announces expansion plans ....
This stock was a disappointment in 2005, but could make up for it this year .... especially if they hit a decent amount of oil in the Avouma field ....
VAALCO Energy, Inc. (the "Company") announced that it has reached an agreement with the Government of Gabon for a five-year extension of the Etame Marine Permit. The extension, which will go into effect July 2006, is divided into a three-year first term and an optional two-year second term. An exploration well is required during each term.
Separately, the Company also announced that it will now sell its Etame crude oil to Trafigura Beheer B.V. Trafigura was the high bidder for the contract which is based on Rabi Light. At current market prices, the Company would expect to receive a price of approximately Dated Brent less $1.25. This represents a significant improvement over the beginning of 2004, when due to weakness in the Rabi price, the Company was receiving Dated Brent less approximately $5.00. The first lifting under the new contract of approximately 720,000 barrels is ongoing.
VAALCO Opens Aberdeen Office
To support future drilling activity and planned exploration activity in the U.K. sector of the North Sea, VAALCO has opened an office in Aberdeen, Scotland. The company plans to enter into two partnerships to perform studies of the blocks upcoming in the 24th Licensing round expected to occur in June 2006. One will focus on the Central North Sea area, and one will be focused on the Southern Gas Basin and Fallow Discoveries. The Company has budgeted approximately $2.0 million to support these North Sea Activities in 2006.
VAALCO Pre-Qualified by Sonangol as Operator for Angolan Licensing Round
In another new venture area, VAALCO has successfully qualified as an Operator for bidding in the upcoming Angolan Licensing Round. Seven blocks are up for bid, with three of them being shallow water blocks of interest to the Company. VAALCO was one of twenty-nine companies qualified and one of only a handful of independents successfully able to qualify. Bids are due March 31, 2006.
Mr. Robert Gerry stated, "We have begun the diversification process for VAALCO as promised. The award of the Mutamba Iroru block in Gabon has strengthened our position within Gabon where our core assets lie. The Avouma platform is expected to be fully constructed by April 2006, with installation in Gabon over the summer. We still anticipate first production from Avouma in the fourth quarter of 2006. We are analyzing the seismic data obtained over Ebouri with hopes to file a development plan with the government in the near future. The opening of an office in Aberdeen commences our North Sea initiative and we continue to pursue other potential projects in West Africa through such activities as the Angolan bid round and discussions with other operators."
wade: re KSWW - it's an accounting 'judgement call' and potentially they could take some more credits in Q4 since they may believe it very likely they'll have the profits to use them all up this year. But the CEO said they'd report taxes of 46% in Q4 .... on the other hand, the auditors may suggest the remaining credits be taken first. We'll have to wait to find out ....
mandjb, nice catch on LMTI, up 50% today on over a 100k volume ! I would have bought at .24, but no chance for that ...
wade: APFC has lots of potential but lots of unknowns. Their recent takeover which is moving them into high end pharmaceuticals is a big wildcard, but cost them a fortune. I was averaged into a small position at 7.20, but sold 1/3 at 7.75 for trading purposes, and plan to add back under 7 if the opportunity presents itself .... however missed today's low of 6.80 ....
wade: KSWW took large tax credits last year which in turn created a 'deferred tax asset' on the balance sheet. They'll be reporting taxes in Q4 at roughly a 46% rate as per my call to the CEO .... however they won't actually be 'paying' taxes, so there won't be any cash outflows. They'll instead be 'writing down' the deferred tax asset. This year they'll be taking their remaining tax credits, the timing of which is uncertain, however their overall tax rate for 2006 should be much lower than 46%.
http://www.investorshub.com/boards/read_msg.asp?message_id=8511692
cliffvb: TDWaterhouse is working ok for me this morning, but occasionally I've had trouble and am able to circumvent problems by using another logon server ....
http://www.tdwaterhouse.com/aol
wade: TGE reported EPS of $0.14 in Q2, however Q3 was somewhat disappointing with EPS of only $.07 .... hopefully Q3 was just an aberration related to one time expenses ....
http://www.investorshub.com/boards/read_msg.asp?Message_id=9175383&txt2find=tge
lentinman: Over the last 55 years the 5 day January period was down 20 times .... in 10 of those year the markets were up for the full year .... so it's 87% versus 50% .... certainly of statistical significance. Obviously that doesn't mean there's a true correlation, it could be mere coincidence. And, as you indicate, the correlation would of course be modestly weaker if you deducted the 5 day gain/loss from the full year.
I do believe there is a minor, but 'true' correlation. I rather think the opening 5 days reflect investor sentiment about the new year, and that's a potent market force that may well carry forward through the year. It's a 'forward looking' period, so to speak ... more so than other periods ...
But I'm not a market timer, and even if I were, I certainly wouldn't put much credence in any single indicator. As I've said before there are a myriad of factors that determine market direction .... some of which are rather unpredictable.
The first 5 days of January are a statistically significant indicator of how the market will do in the coming year. Since 1950 there have been 35 years with the market showing gains in the first 5 days of the year, and in 30 of those 35 years the market showed full year gains, for an 87% predictive accuracy.
However, the weakest correlation has been in the midterm election year (which 2006 is) - in the last 7 midterm election years the initial 5 day January period served as a perfect CONTRARY indicator of how the market would do that year ... oh well ! In the prior 7 midterm election years the 5 day period was accurate in predicting the market 6 times.
NUVO continues to act well, hitting 14.44 today on heavy volume. Lots of earnings potential here with partner Bayer pushing their blockbuster anti-clotting drug in Europe, while NUVO retains full rights domestically.
hweb: nice call on INB in the low 3's. I picked some up on the rebound to the high 3's and just sold a few minutes ago at 6.15. Just a very small position though .... wish I'd bought more !
Congratulations also to Wade for highlighting this stock in several posts in recent weeks !
michaelt: re BTYH, hindsight is perfect as always. I had a sizable position but sold at about breakeven after learning about all the hidden dilution. In retrospect I should have given the Company credit for their successful EPS masquerade, and for issuing frequent PR's with a 'good story', and held onto some shares on that premise. The stock has had a great run without me.
Knowledge: NITE is not showing up on my level2 quotes ... they must be having a problem and it may be affecting some other market makers as well ....
re BTYH - MichaelT deserves the credit for discovering the huge dilution 'hidden' in the footnotes - see post #23584. Ironcially, however, the stock is up over 200% since his post. Perceptions drive stock prices, and the Company has done a good job with its EPS masquerade. Maybe the stock goes to $4 ?
http://www.investorshub.com/boards/read_msg.asp?message_id=7885872
Of course, with a name like 'Bad Toy Holdings', one has to expect a bit of sleaze ....
it conjures up images of a playground toy starting to boss the kids around .... or a jack-in-the-box who pops out of his box just once to make some disturbing remarks .... saying perhaps that 'pi' and 'e' are to be married as implied by the upper and lower lips in a mathematical interpretation of the human form. But can the sum of pi and e, 5.85987..., really have any relevance in mathematical equations ?
cl001: re BTYH - those preferred shares are convertible at a rate of 1 for 10 into common ... so that's 8.18M shares of dilution right there. Company can redeem at $1 but must first give shareholders the option to convert into common, so nobody would redeem when they can convert.
Also another 18.4M shares of dilution due to convertible debt at $0.10 per share. That's sleazy insider ownership deceptively hidden in the footnotes .... here's the 10Q excerpt ....
At various times the Company has entered into unsecured notes payable with its stockholders. The stockholder has indicated no intention of calling the notes within the next year and the Company has no intention to repay these notes during the next year. Accordingly the notes are classified as long-term at September 30, 2004. The notes bare interest at 10.0%, and are convertible to common stock at $0.10 per share at the shareholders’ option. The balance outstanding at December 31, 2004 and September 30, 2005 was $1,849,822.
So roughly 26.6M added shares on top of the 16.7M reported, and that excludes additional shares related to recent financing transactions ..... fully diluted, untaxed EPS of $0.029 in the latest quarter rather than the $0.07 EPS reported.
BTYH is up over 300% since the early November low of .53 ... it could go higher, but the big wildcard is the huge dilution factor of convertible preferred. The Company has been deceptive in hiding all the dilution in the footnotes. The spinoff may change their reporting style. They report only basic share count on the income statement. That's pretty sleazy! Fully diluted EPS would have been around $.03 in the latest quarter, and that's untaxed.
But the Company has a great PR machine, and investor perceptions are what count ....,
TGE to deploy 6th seismic crew. Company reported EPS of $0.14 in Q2 with just 3 crews at work ... however Q3 was disappointing due to start up expenses and other costs, so it's unclear what future level of profitability they will attain. Nonetheless stock may be cheap at $7.50 if they can control costs, and once new crew deployment expenses are done with ....
PLANO, Texas, Jan. 9 /PRNewswire-FirstCall/ -- TGC Industries, Inc. (Amex: TGE - News) announced today that the Company has secured a sufficient number of additional contracts to deploy its sixth seismic field acquisition crew, which will be operational by the second half of January.
On November 21, 2005, the Company announced its intention to purchase a fourth ARAM ARIES seismic recording system, which was expected to replace one of the Company's two Opseis Eagle systems. Rather than replace one of the Company's Opseis Eagle systems with its new ARAM ARIES system, as stated in the earlier press release, the new ARAM ARIES system will be placed into service with this new field acquisition crew.
Additionally, the Company announced that it will be taking delivery of three new vibration vehicles before the end of January.
Wayne Whitener, President and CEO of TGC Industries, stated, "We continue to experience rising demand for our land 3-D seismic surveys and are responding by optimizing our equipment and crews, as well as the productivity of our crews, to fulfill the requirements of our customers."
It's IHUB HAPPY HOUR - Friday 4-5pm !
I've long been a premium member, but for those who aren't and would like to try out the perks of membership, now is the time to do it .....
HAPPY Hour is blocks of time where all members have the premium features enabled. The whole enchilada (search capability, no ads, private messages, batch message viewing, everything!). It gives you the opportunity to see just how valuable the premium subscription is. Try it out! The only time for HAPPY Hour is: Friday, 4-5pm EST.
For those who regularly invest based on recommendation seen on the VMC and other boards, the payback of premium membership can be realized very quickly. The advanced search features will make doing your IHUB post research much more effective and efficient !
cliffvb: GV seems to have little downside risk at .82, though I do see a large block of 80k shares for sale at .83. A single large seller may be creating this buying opportunity. Of course the timing of revenue recognition from construction on the Pineapple condo project is not entirely clear, but will be very substantial.
wade: UVIH, it's not clear to me what reinsurance expense there is beyond the recurring 65% 'ceded' from written premiums. Are there 1-time expenses each year on June 1 at renewal ? I don't see any specific reference on the income statement of the 10Q for last year's 2nd quarter. Did he say anything about whether the reinsurers would be getting a bigger 'cut' out of written premiums ?
Doubloon: MLTO is also one of my holdings. Explosive growth potential here but it may be a while before they start filing financials ....
GV looks cheap at .81 ... I bought shares yesterday at .83. Fully taxed and diluted EPS of $0.03 in the latest quarter, and tangible book value of $0.81, equal to the current stock price !
The electrical contract backlog has grown significantly, and work related to October's hurricane Wilma in South Florida should further boost Q4 results. GV is based in Florida. The Pineapple Condo project should substantially boost their construction division's earnings for 2006. Most of the units have already been sold.
MPAD +2.05 to 13.95 has been moving steadily higher over the past several months .... I still have a small position left. This is another example of a Company with heavy inside ownership that never issues PR's, except to announce the annual dividend, yet the stock has performed very well ! However thin trade and wide spreads come with the territory. I accumulated my original position in this one over an extended period with GTC limit orders .... the valuation was too compelling to ignore.
swampboots: nice call on INNO. I went bottom fishing in the low 1's after your post on the premise that all the bad news was in the stock and that tax selling pressures were a factor in the selloff. It's now up to $1.41 on heavy volume, an impressive gain of 34% since your post two weeks ago !
Thanks for posting this one !
bbotcs: UVIH is risky stock, but it's not risky within the context of a diversified stock portfolio. Even given the greatly increased hurricane activity of the past 2 years, the probabilities of a cat 5 hitting Dade County are very small. Last year the biggest hurricane to hit Florida was a cat 3.
Ocean waters have been warming for a long time and do not explain the sudden surge in Atlantic storm activity over the last 2 years. According to weather experts, we've been in an active hurricane cycle for the past 10 years, yet in the 8 years prior to 2004, Florida was largely spared. I'm hoping for a 'return to the mean' and an overdue quiet year, at least for Florida, in 2006. Hopefully it will work out that way, but maybe not. I also own TCHC in the Florida homeowners insurance business. The PE's are low for good reason, but both UVIH and TCHC would show oversized profits in a 'normal' hurricane year !
But in the context of a diversified portfolio, another extremely active year for hurricanes would likely cause oil and gas prices to soar. A large exposure to the oil and gas sector would easily overcome the the losses experienced in the Florida insurance stocks. The key to mitigating risk lies in having a diversified portfolio !
cl001: BWWR certainly has an extreme dilution factor to deal with .... they'll probably be doing more 'exchange offers', but looks like it's fully valued at $14, even given the strong growth. But it also seems they stand a good chance of moving to the Nasdaq as planned, and the market might apply a decent PE given their sector and high growth rate ....
wade: BWWR files with the SEC, so you should find the documents on EDGAR, but still under the old symbol, BWWL. The dilution factor is huge, but the exchange offer has reduced it substantially. It's a complex financial situation that will clarify in future filings. However even if all warrants and debt were exchanged, 1 to 3, then dilution might still roughly reduce EPS by 70% or more ....
wade: UVIH reinsurers get about 66% of the premiums earned by the Company ... that's per the agreement signed 6/1/05 which lasts a year. They'll have to renew with much higher total limits of liability on 6/1/06.
You'll see in the income statement that revenues are from 'net premiums earned'. The 'net' part means after reinsurance expense has been 'ceded' to the reinsurers. In a later section of the 10Q, one finds a table that shows the Company actually earned $17.2M of premiums in Q3, of which $11.3M was ceded to the reinsurers and the remaining $5.9M was reported as revenue.
The reinsurers paid the vast bulk of UVIH's claims during both 2004 and 2005, losing a lot of money in the process. But reinsurers made lots of money in earlier years, when Florida was not getting hit by many hurricanes.
So the big question is, were 2004 and 2005 just a freak event of nature, or is this the new 'norm' for hurricanes hitting Florida (actually 2004 was a lot worse than 2005 for Florida) ??? Homeowners rates have already soared but would have to go still much higher if this becomes a recurring weather pattern. Hopefully it won't. Hurricane season officially begins on June 1 and runs 6 months. The water is too cold to spawn major hurricanes outside of that season ...
BWWR +2.27 to 14.25, this o&g services company continues to make progress in their restructuring. Previously traded at BWWL before their recent 1 for 10 reverse stock split. Fully reporting but currently trades on the pink sheets. Plans to move to the Nasdaq later this year. EPS of $1.80 in Q3 and $5.30 through 9 months, but that excludes the enormous dilutive effect of convertible debt and warrants. However the Company's recent 'exchange offer' of 1 share of stock for every 3 warrants was very successful in reducing fully diluted share count .....
they also have an acquisition in the works, so a complex financial picture that will clarify with future SEC filings ....
The Company also announced that on September 19, 2005, it entered into a letter of intent to purchase from the holders all of the outstanding equity securities of BobCat Pressure Control, Inc. ("BobCat"). The purchase price is $51.5 million, less the amount of long-term debt, including current maturities, payable in cash at the closing of the transaction. BobCat provides snubbing services to oil and natural gas well operators in the Mid- Continent area of the United States.
S&P500 and Nasdaq both closed at 5 year highs ! It's a great start to the new year. Even the homebuilders rallied strongly today .... the gloom of late December has completely vanished, but I don't know how long this rally can last .... a correction may lie ahead in the February to May timeframe.
I took some profits in EPEX today, selling all my remaining March call options for a decent profit. The stock has been surprisingly strong given the huge drop in gas prices these last few weeks, so I thought it prudent to take some money off the table. Over the last 11 years, the XNG gas index has not fared well in January, dropping an overall average of 2.9%, with 8 declines.
TMFZ today filed SEC form S-4/A to register TMFZ REIT, Inc. The mortgage company expects to complete the transition into a REIT by the end of the Q1. This will mean a 90%+ dividend payout of all pretax earnings !
TMFZ had a solid Q3, posting fully taxed and diluted EPS of $0.20 for Q3 and $0.57 for 9 months. Not bad for a stock trading at $2.75 ! Pretax income amounted to $1.02 per basic share for the first 9 months, so the dividend would have been near than amount if the were a REIT. That's a hefty dividend for a stock trading at a mere $2.75, and amounts to a yield of 49% annualized !
Their transition to REIT status is likely to attract investor attention because of the huge dividend yield, much great than that of the mortgage REIT sector, and should drive the stock price higher. Furthermore, most mortgage companies, like LEND, have already rallied strongly in recent weeks in anticipation of an end to the FED interest rate hikes by early this year.
TMFZ looks very undervalued relative to the mortgage sector, and as a further bonus, management has plans to apply for an AMEX listing later this year.
MESA reports solid y/y growth for the month of December. Stock is trading around 11.20 and looks like one of the few bargains in the airline sector. MESA reported fully taxed and diluted EPS of $1.35 for their 2005 September fiscal year, up from $0.66 the prior year. They may also pick up some new business from Continental which is accepting bids from regional carriers to replace the 69 regional jets they recently terminated with Express Jet (XJT).
Here's today PR ....
PHOENIX, Jan. 5 /PRNewswire-FirstCall/ -- Mesa Air Group, Inc. (Nasdaq: MESA - News) reported its preliminary traffic figures, on-time performance and completion rate figures for December 2005. Year-over-year available seat miles increased 17.4% in December 2005 to 787 million, compared to 670 million in December 2004. Revenue passenger miles increased 17.4% from 479 million in 2004 to 563 million in 2005. Passenger enplanements increased 15.0% from 1,038,251 in December 2004 to 1,194,122 in December 2005. Year-over-year load factor was unchanged at 71.6%.
NUVO signs huge deal with Bayer on the commercialization of their blockbuster 'Alfimeprase' anti-clotting drug. I picked up a few shares of NUVO at $12.14 in pre-market trading and will add if it pulls back in the regular session. This drug has huge potential .....
Nuvelo and Bayer HealthCare Enter Comprehensive Collaboration Agreement to Maximize Global Development and Commercialization of Alfimeprase
Thursday January 5, 8:00 am ET
- Bayer HealthCare to Commercialize in All Territories Outside of the U.S., Nuvelo Retains Full U.S. Commercialization Rights and Will Receive Rest of World Royalties, Milestone Payments Totaling $385M and Development Funding
- Partners to Expand Beyond Current Phase 3 Programs to Develop Alfimeprase for Stroke and Deep Vein Thrombosis
- Nuvelo to Host Conference Call/Webcast Today at 8:30 a.m. Eastern Time
SAN CARLOS, Calif., Jan. 5 /PRNewswire-FirstCall/ -- Nuvelo, Inc. (Nasdaq: NUVO - News) today announced that it has entered into a collaboration agreement with Bayer HealthCare AG (BHC) to maximize the global development and commercialization of alfimeprase, Nuvelo's lead Phase 3 product candidate. Alfimeprase, a novel, first-in-class thrombolytic or blood clot dissolver that directly degrades fibrin, has been shown in clinical studies to provide rapid clot dissolution with a well tolerated safety profile.
Under the terms of the agreement, Nuvelo will retain all commercialization rights and profits from alfimeprase sales in the United States. BHC will commercialize alfimeprase in all territories outside the U.S. and will pay Nuvelo tiered royalties ranging up to 37.5% that reflect the late-stage development status and significant market potential of alfimeprase.
Nuvelo is eligible to receive up to $385 million in milestone payments including a $50 million up-front cash payment, up to $165 million in development milestones and $170 million in sales and commercialization milestones over the course of the agreement. In addition, BHC will be responsible for 40 percent of the costs for global development programs. Nuvelo will be responsible for 60 percent of the costs and will remain the lead for the design and conduct of the global development programs. In 2006, Nuvelo expects to receive payments totaling $90 million, including the $50 million up-front payment and an additional $40 million in shared development expenses and a milestone payment for initiating a Phase 2 proof-of-concept trial in stroke.
"In 2005 we articulated our strategy to pursue a partnership for alfimeprase that would maximize its commercial potential and allow us to accelerate commercialization outside of the U.S. while establishing our own domestic sales force. As part of this strategy, we implemented a rigorous process that garnered substantial interest from multiple potential partners and ultimately enabled us to identify an ideal partner who shared our vision for alfimeprase," said Ted W. Love, M.D., chairman and chief executive officer of Nuvelo. "Bayer HealthCare proved to be the optimal partner based on its cardiovascular development and commercialization expertise, global reach and ability to provide significant resources to rapidly develop alfimeprase's full commercial potential."
"This Phase 3 compound has the potential to be a significant addition to our cardiology/hematology business," said Wolfgang Plischke, president of Bayer HealthCare's Pharmaceutical Division. "Thrombosis-related diseases are highly prevalent, and alfimeprase's ability to rapidly dissolve clots in clinical trials conducted to date suggest it may be the ideal complement to our range of products that address coagulation and thrombosis. We believe alfimeprase has the potential to transform the treatment of patients suffering from thrombotic-related disorders."
Nuvelo and BHC will jointly engage in a comprehensive global development plan to maximize the clinical and commercial potential of alfimeprase in the U.S. and abroad, as well as establish a worldwide franchise that addresses the unmet medical need of the large number of patients with diseases caused by blood clot formation. Alfimeprase is currently being studied in Phase 3 clinical trials for the potential treatment of acute peripheral arterial occlusion (PAO) and catheter occlusion (CO), and may have utility in a wide range of additional thrombotic-related conditions such as stroke, deep venous thrombosis (DVT) and myocardial infarction. These disorders are among the most common causes of death and morbidity in the Western world. The companies plan to expand beyond the current Phase 3 programs and initiate additional clinical programs with alfimeprase in stroke and DVT. A Phase 2 program in stroke is expected to begin in the second half of 2006 and a Phase 2 program in DVT is expected to begin in 2007.
About Alfimeprase
Alfimeprase is an enzyme produced by recombinant DNA technology that rapidly dissolves blood clots through a unique mechanism of action; it directly degrades fibrin, a protein that provides the scaffolding for blood clots. In clinical studies to date, alfimeprase has been shown to have the ability to degrade peripheral arterial (e.g. leg) clots within four hours of initiation of dosing and to clear occluded catheters in 15 minutes or less. In addition, its lytic activity is localized to the site of delivery due to its rapid inhibition by alpha-2 macroglobulin, a naturally occurring protein in the blood, as soon as it moves away from the clot and into the general circulation. This clearance mechanism helps focus the thrombolytic activity to the site of delivery and, in clinical testing, appears to minimize bleeding side effects.
Knowledge: TRKX has enormous reserves for a Company with a market cap of $10M. The same market cap as TVOC, but roughly 50% greater reserves. I once had a sizable position in the stock, but their move to the pink sheets a year ago was very disappointing. The stock was starting to get noticed, and would have gone much higher if they had maintained their OTCBB listing. On the pink sheets liquidity completely dried up because the Company never even issued financial press releases, and of course stopped filing with the SEC.
Some non-filing pink sheet stocks have a decent valuation and liquidity, but for that to happen they at least have to issue PR's. TRKX could come back to life if they did a stock split to get the price back down to reasonable levels and began issuing quarterly financial updates. I'd get back into the stock if that happened, but it seems unlikely. Maybe I'll give them a call to remind them that they still have some shareholders ....
doctorofstock: I was very glad to have had my first noteworthy communique with the TVOC Management today. It's a step in the right direction. But based on past experience, I rather suspect I won't be getting a callback. I don't attach too much significance to it. My focus is on their financials, and hopefully getting them to issue their 'first ever' earnings press release. In that regard I was encouraged by my call today. The stock could trade much higher with just a single PR. It's the cheapest o&g microcap out there, especially based on reserves, the primary valuation metric in the industry.
But it sounds like this stock is not for you. I wouldn't recommend a $100k investment in a relatively illiquid issue like this one. My own position is much smaller than that. Of course, with some PR, the liquidity could improve significantly. I've had some great success in the past accumulating sizable positions in undervalued securities that subsequently got 'discovered' and traded much higher on heavy volume. Of course, sometimes it doesn't work out, or the company's results deteriorate so that the stock can no longer be viewed as undervalued. Risk and reward come hand in hand.