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Thanks!
Seeing a rally before the March earnings release
and it has held onto its gain from $2.45 or so level to $2.83.
Looks like Markman result is still ahead in the hazy future. Really baffling how they can make this stuff stretch out for so long.
Right now the Special Master's review of CRDS' patent approach is being responded to by all of the parties.
Best Regards,
RG
long CRDS
What do you want to see in the "ibox" above the board?
I'm going to keep the ibox slimmed down and hopefully no other moderators will tool with it unless its usefully.
What are some things you'd like to see in the ibox?
Best Regards,
RG
Questions you'd like to ask CEO Tom Gutierrez, Non-titled Insider Dan Squillier, and the Board of Directors
Here's a game we can play
Where is the Revenue?
Why are there less revenues today than during the 2012 Solar Industry Crisis?
Why are there no promotions or updates on what the Company is doing with its Thermal Technologies acquisition?
Why aren't we hearing about Tom Gutierrez' activities and thoughts on the bankruptcy proceedings?
Why is the Company changing gears with Hyperion to exclusively sell for highly experimental BORON Cancer Research instead of focusing on the Sapphire Cutting ability and placing the technology into manufacturer floors?
What initiatives are being used int eh company to sell ASF Sapphire Furnaces -- the top furnaces on the market -- and how come they are not securing any deals?
The game is easy, just reply @Questions and write your question for top insiders of GT Advanced Technologies
Best Regards,
RG
long GTATQ
Solid rally
Let's see if it holds
last time we flew up to .36 it was down to 30 in a week!
Best Regards,
RG
Spoke to investor relations
Couldn't get much information except that they do not expect to release the two past-due statements at one time nor during the same week.. So we'll see the most delinquent quarterly statement then the next in succession.
Best Regards,
RG
long esi
@getrich11 what terms say they can convert the DIP to equity?
I only saw that they geting 3.25% of the equity via warrants as part of the fee
DIP financing terms really suck in general.
But I did not see in the DIP facility notes at the end of the recently filed 8-k any mention of the abiltiy to convert the debt to equity.
Best Regards,
RG
I think it'll be interesting to see
what Fidelity's explanation for the the ~16 million share purchase from 2/12 - 2/13 is
Best Regards,
RG
long gtatq
article + CRDS really heating up past few days
Markman special advisor to the judge "Special Master" (lol wtf name)
gave CRDS a lot of approval of essential ways they have constructed their patent claims. We ought to see Judge Sparks make the Markman ruling soon. May be a massive positive catalyst.
http://seekingalpha.com/article/2943886-special-masters-markman-recommendation-extremely-positive-for-crossroads
Best Regards,
RG
ESI is just up and down and up and down
Arrggg it'd be a nightmare to be watching this thing everyday
Looking for a good earnings report before my March 20 options expire.. Can't believe how slow the statements are coming.
Best Regards,
RG
Will GTATQ make you rich?
Or will you only potentially get near to recouping your losses from pre-BK ownership?
Assuming of course the price goes up from here and equity survives this debacle
Best Regards,
RG
Insider Transactions
ESI Collation of Insider Transactions made on February 20th 2015
Insider Transactions - These are All Automatic withholdings for tax purposes,
These transactions actually represent a net increase in the Shares of ESI Held by these insiders.
Knowlton, Angela - Sold 569. 9181 remaining.
Tarasi, Rocco - Sold 247, 4647 remaining
McCormack, June - Sold 2409, 18141 remaining
Tanner, Glenn - Sold 2353, 13,141 remaining
Fitzpatrick, Daniel - Sold 3121, 21995 remaining
Feichtner, Eugene - Sold 2841, 18484 remaining, & 7,948 in 401(k)
Modany, Kevin - Sold 22,505, 97542 remaining
Notable: All transactions reported on 2/18/15. All transactions at shareprice $7.58.
Best Regards,
RG
@MillerLiteBottle "Fidelity sold"
Its strange that the day after Fidelity CSI Trust was approved trade in coverd claims, FMR LLC (fidelity) reported a whopping 15 million share stake (that means from 0% ownership to 10.209% from Dec 31 thru Feb 13th 2015)
Best Regard
Volume jumps today 2/19/15
Typically been seeing less than 35k shares traded per day
120k shares traded today
The ROTH presentation announcement was at 8AM today. Maybe some folks saw the press release and figure that if they're presenting at ROTH, it may attract some big time capital investors?
Best Regards,
RG
Crossroads Systems to Present at 27th Annual ROTH Conference
AUSTIN, Texas, Feb. 19, 2015 /PRNewswire/ -- Crossroads Systems, Inc. (CRDS) today announced that Richard K. Coleman, Jr., President and Chief Executive Officer, is scheduled to present at the 27th Annual ROTH Conference held March 8-11, 2015 at The Ritz-Carlton in Dana Point, CA.
the ROTH Conferece
The Roth Conference, organized by the ROTH Capital Partners.
Best Regards,
RG
long CRDS
My balance sheet analysis from most recent data says net assets $107 million
Best Regards,
RG
Insider purchase & sale info for the time period August 2014 - February 2015
Collation of Major Purchases of ITT Educational Services
The “Danger Zone” is from the time when the Company was ordered to audit its financial reports, and the Wells’ Notice was issued, which issuance was in September of 2014.
Clifton Park Capital Management: Bought during Danger Zone
Report filed February 13th, 2015 stating ownership stake of 1,606,366 shares
http://www.sec.gov/Archives/edgar/data/922475/000154079615000006/ESI_CPCM_13G_2014.txt
Holdings Report filed November 13th, 2014 stating ownership stake of 1,606,366 shares
Holdings Report filed August 6th, 2014 stating ownership stake of 0 shares
Select Equity Group, L.P.: Sold 6% of position during Danger Zone
Report filed February 13th, 2015 stating ownership stake of 2,258,955 shares
http://www.sec.gov/Archives/edgar/data/922475/000089914015000228/s13559433a.htm
Holdings Report filed November 11th, 2014 stating ownership stake of 2,404,875 shares
Capital World Investors: Bought during Danger Zone
Report filed February 13th, 2015 stating ownership stake of 1,869,000 shares
http://www.sec.gov/Archives/edgar/data/922475/000142284915000218/edgesi.txt
Holdings Report filed November 14th, 2014 stating ownership stake of 1,519,000 shares
Vanguard Group Inc: Sold 24.6% of position during Danger Zone
Holdings Report filed February 12th, 2015 stating ownership stake of 700,552 shares
http://www.sec.gov/Archives/edgar/data/102909/000093247115004138/itteducationalservices.htm
Holdings Report filed November 12th, 2014 stating ownership stake of 929,541 shares
Blum Capital Partners: Sold 31.2% of position during Danger Zone
Report filed February 5th, 2015 stating ownership stake of 1,431,813 shares
http://www.sec.gov/Archives/edgar/data/922475/000093877515000002/esi13d-13.txt
Holdings Report filed November 14th, 2014 stating ownership stake of 2,081,913 shares
Blackrock Inc: Bought during Danger Zone
Report filed February 2nd, 2015 stating ownership stake of 1,259,813 shares.
http://www.sec.gov/Archives/edgar/data/922475/000108636415001553/itt.educational.serv.txt
Holdings Report filed October 29th, 2014 stating ownership stake of 1,475 shares
Conclusion
It is plain to see that large investment funds have gone net long during this time of concern for ESI.
Best Regards,
RG
See the original article & more at http://www.richardgamingo.com/collation-of-major-purchases-sells-of-itt-educational-services/
FMR/Fidelity did not file for significant claimholder status.
The judge was specifically told that Fidelity does not have significant claimholder status, he was told this by Fidelity's counsel at the most recent hearing
Not to mention that they file this amended holdings report the day after the judge allowed them to trade covered claims. This is impossible for FMR to have more than doubled their position from 4.8% as their pre-amended 13G reported to the more than 10% today.
i.e. FMR has committed a crime, violating the stay, failing to report their ownership stake
Best Regards,
RG
Article on LED Sapphire Industry, says its poised for growth
http://www.ledinside.com/outlook/2015/2/ledinside_sapphire_substrate_market_growth_to_soar_in_2015
Best Regards,
RG
What if....
(what if's for discussing employees Tom Gutierrez, Dan Squiller, Fred JEffrey, and the rest of the top 5 and top 9 insiders)
the managers signed a deal which...
What if..
detached ~450 million production cost worth of inventory from the Company's proper entities into an entity they designed to be "bankruptcy remote through a non-value-adding sale and leaseback agreement" for the benefit of an outside party?
What if..
the employees let another Company's employees have the run of the production floor where tons of proprietary knowledge & trade secrets were available and easily stolen via observation and there are testimony of such theft through instances of inappropriate, non-contracted contact between the foreign Company's high-level staff and the production engineering teams...
Best Regards,
RG
ESI Closes up 24.29% on the day
What do you think?
ESI Closes Up on the Day 24.29%!
After an release by famed fund Blackrock, Inc which revealed that since September 2014 the firm has gone from a 0.001% stake to a 5% stake in ITT Educational Services, ESI stock has leapt massively.
The options market on this stock has reflected this high volatility potential for a long time in this hotly contested stock. Multiple factors are being looked to by the 45%+ short interest as their hotbutton issues. The Company is currently facing a Wells Notice which may result in the educational giant being completely shut down by their Government Oversight agency.
Much uncertainty surrounds ESI's business performance itself after failing to file their GAAP financial statements with the SEC for months on end now, word on the street is that auditors and other accountants employed by ITT Educational are working around the clock to meet the standard earnings report date for the Company which typically lands in the last two weeks of February.
This won't be a typical earnings announcement. The Firm also must file a delinquent statement for along with the typical statement. This will give the Street a lot of information to chew on, but simply, ESI investors are facing a long period of earnings that simply having been reported. The financials are being gambled on via both sides with the aforementioned 45%+ short interest on the one hand and the new 5% stake purchasd by Blackrock on the other.
The options market has heated up with today's massive jump in price. Last time this kind of action happened in one day the price per share jumped a further 20% on the next trading day.
Market participants are watching ESI with close eyes but the question remains -- will there be money to be made still by the time the late February report is made? Will the bull case for ESI return or will it even out after squeezing the shorts?
http://www.richardgamingo.com/
Best Regards,
RG
long ESI
We've Foiled their 1st Awful Incentivization Plan: GT Advanced Technology Case
A few weeks back, the present employee managers at GT Advanced Technologies put forward an incentivization plan that included a cash bonus for selling the Company's valuable ASF (Sapphire Crystal Growth) Furnaces and hitting R&D & CAPEX targets.
The plan they submitted had multiple problems which I pointed out in the objection I filed (viewable here)
Each problem arose from the criteria for qualifying for said bonus which the Managers put into the plan,
1. They sought bonuses on total revenues for Sapphire Furnaces sold (which means they could have sold the Furnaces far below market value, producing no value for the business, and still hit their bonus criteria)
2. They seek bonuses for hitting R&D and CAPEX Targets or lower (i.e. cutting expenses, the major problem with their R&D and CAPEX targets is that the Company is already scheduled to experience significant reductions on these Criteria because they've completed developing on their major Hyperion 4 product)
I laid out the problems in more detail in the objection linked above.
Since my objection, the managers were forced to file a new incentivization plan. The employee manager's new plan is still a self-serving piece of crap, but at least the first one was laid to rest.
This one will have to bite the dust as well.
Best Regards,
RG
edit link to objection here http://www.kccllc.net/gtat/document/1411916150114000000000010
Warning for ESI Shorts
http://www.richardgamingo.com/rgs-broad-warning-to-esi-shorts/
Best Regards,
RG
Supporting Missive 2: Declarations of Priorities (re: Motion for the Appointment of an Official Committee of Equity Security Holders Docket #843)
I'm really proud of how this came together
http://www.kccllc.net/gtat/document/1411916150114000000000007
Best Regards,
RG
What is a Markman Hearing?
Its this "early stages":
CRDS is in the early stages of litigation using a 5-times-proven patent argument against major storage industry players Oracle (ORCL), Cisco (CSCO), Dot Hill (HILL), and other companies. CRDS is arguing for a chunk of over $82billion dollars of revenues produced by products which violate their court-tested patents. I encourage interested investors to perform due diligence on the whole of Crossroads’ business situation before investing.
Markman has concluded but results not announced 1/23/2015
Best Regards,
RG
Why tape based storage is pretty good
Strongbox’s LTFS system combined with its disc-based cache enables the Strongbox system to work with the convenience of Disk while retaining the cost advantages of tape storage, one research report discussed in trade magazine storagenewsletter.com reveals disk storage to be less environmentally friendly and to cost 15 times more than tape-based solutions,
Best Regards,
RG
NOL Carryover topping $60 million
The NOL carryover is further bolstered by the $9,227,000 loss recorded against earnings
Best Regards,
RG
General Update from 10-K review
10-K ANNUAL REPORT recently filed
Gross Margin on Product sales for the year is outstanding right now
approx $4mm revenue on 945k cost.
That revenue is from Strongbox sales, which have been growing.
$3.8 million cash spent for the year net of financing activities, so that is the Company’s “real loss” for the year in terms of Cash Flows.
The NOL carryover is further bolstered by the $9,227,000 loss recorded against earnings
I re-upped my position in CRDS. With Jennifer Crane, the CFO purchasing stock, after having held out for a very long time (she has almost no purchases over the previous year), I consider that a strong signal of strength in the Company.
Best Regards,
RG
via my blog richardgamingo.com
long crds gtatq esi wmih pslv slv
Themes: big data, storage, hardware, security, cyber security
Bond Info via BLOOMBERG TERMINAL
Dec 15 2020 maturity
Cusip 36191UAB2
NO dealers offering bond in open market
Last Trade 22 Jan, 2015 @ 39c
"Sold to Dealer" $71,000 Face
Dec 2017 maturity
NO OFFER of bond in open market
Most Recent Trade: 22 Jan, 2015
@ 40.5c
“Sold to Dealer” $30,000
Best Regards,
RG
@schrsh1 $1000 face value bond?
You put a CUSIP and such but it doesn't pop up on my online brokerage.
Info please
Best Regards,
RG
It was NOT hearsay. It was a direct report from a journalist ("Financial analyst" for CRT Capital) on what a Manager said at a meeting with the Creditors.
So how come the Managers of your Equity are downplaying the value of the Company's Assets (which YOU own if you're a shareholder) during these CHP 11 where Equity can potentially be wiped out?
Best Regards,
RG
GTAT Management repping furnaces at $200k per after reooing $500k in court in Dec during Apple negotiations.
200k
http://finance.yahoo.com/news/crt-capital-comments-gt-advanced-151555145.html
500k
"GT attorney Luc Despins told the court he expects each furnace to sell for at least $500K. Apple will receive $169K/furnace for the first 500 sold, and $224K/furnace for the next 500."
http://seekingalpha.com/news/2182365-gt-advanceds-settlement-cleared-furnace-proceeds-in-focus
HMMMMMMMMMM....
Best Regards,
RG
Advanced Process Systems WITHDRAWS request to retrieve EQUIPMENT -- What’s Brewing?
DOCKET 1058 1/20/2015
http://www.kccllc.net/gtat/document/1411916150120000000000010
Withdrawn Document:
DOCKET 0578, 0574
DEMAND FOR RETURN FROM MESA, ARIZONA:
**********Valley Craft Boule Lifter******** <--this one for boules is ???? no more boules to be produced here AMIRITE? Or for removal of boule debris?
Big Joe Straddle Lifter <---- possibly for use in moving the ASF Furnaces when sold but then again why were these lifters on premises when the ASF Furnaces at Mesa were finished being installed long ago?
I don't know what these lifters are for precisely because of that.
Big Joe Straddle Lifter
Big Joe Straddle Lifter
Why does Advanced Process System want to leave their equipment for Boules at Mesa, Arizona under GTAT’s control on Apple’s Property?
Best Regards,
RG
long gtatq
GTAT Management attempting to represent ASF Furnace as worth just $200k each since Jan 9th
How to call them out on that?
Best Regards,
RG
Why didn't GTAT Management
Contest that Apple presented EARLY RESEARCH BOULES in the Settlement before giving away the Sapphire Equipment Division?
Best Regards,
RG
long gtatq
1/13/2014-9/9/2014 $30.8m of insider sales
$641k sold in the first 9 days of September.
Best Regards,
RG
long gtatq
Boules from 2013 that ridiculous to present as evidence
also at least one boule is 252KG which is the experimental super-large ones -- and from 2013.
Any other observations?
Not enough data; they took pics to conceal
Best Regards,
RG
@schrsh1 The Company basically gets turned over to bondholders in cases where Equity falls down.
Best Regards,
RG
long gtatq
@ukfan Its not illegal.. the objection
which I presented to the Court makes it clear how come the incentive plan ought to be denied.
http://www.kccllc.net/gtat/document/1411916150114000000000010
Paragraph labeled
"6."
tldr; the criteria are bad for owner/investors
POR does not have a "deadline" per se The debtor (unless a "small business debtor") has a 120-day period during which it has an exclusive right to file a plan. 11 U.S.C. § 1121(b). This exclusivity period may be extended or reduced by the court. But in no event may the exclusivity period, including all extensions, be longer than 18 months. 11 U.S.C. § 1121(d). After the exclusivity period has expired, a creditor or the case trustee may file a competing plan. The U.S. trustee may not file a plan. 11 U.S.C. § 307.
Best Regards,
RG