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Did anybody else notice that in Rick's EMail and Phil's recent statement that they said we would be receiving a dividend from Xiptel, Systems Integration and New Market China? There was no mention of New Market Latin America. It looks like there will be no dividend from Latin America. My guess is that they will be selling a lot of shares to the public to pay for Unione and future acquisitions. Phil will probably be receiving shares in exchange for the VTI loan. This will not allow any room for NMKT shareholders to receive a dividend. I notice that they didn't identify the U.S. company that gave them a $1 million contract to outsource jobs to China. I guess companies doing this don't want to be identified. It's not the best publicity. I feel a little guilty that much of our growth will come from taking jobs away from Americans. I guess somebody's going to be doing it so it might as well be us.
I believe that there will be some type of announcement when earnings are released regarding the listing of NMKT subsidiaries. Phil had wanted to announce a reduction in fully diluted shares when year end results were announced, but was unable to do so. He now says the reduction WILL be announced when first quarter results are announced. Something has changed since March 31 that now makes it possible to make the announcement. Part of the announcement includes transferring VTI debt to shares in subsidiaries. Before there were no shares in subsidiaries to transfer them to. Phil said in February that several NMKT subsidiaries had allready applied for listing on stock exchanges. These subsidiaries needed to have their own financials for 2005 to begin trading. I'm not sure if they need audited results to begin trading. At any rate I believe that some NMKT subsidiaries will be trading their own stocks soon. You may see NMCH, NMLA or XIPT soon. Does anybody realize that out of the thousands of stocks that trade on the NYSE, AMEX and OTC that NMKT is the only stock you can buy that may pay you five stock dividends in the next twelve months? It makes NMKT very unique. Once an actual dividend is declared NMKT will receive a lot of attention. It will stand out as the only company on the entire stock market with this kind of a business model. Another bullish thing that many people overlook is the prescence of Hugh Robinson on the board of directors. A former Federal Reserve Board Regional Chairman that is actively involved with NMKT. He went to China with NMKT and right now he is in Latin America with NMKT. This is an unbelievably bullish developement. You know he isn't doing this for amusement. Despite my frustration over delays I remain extremely bullish on NMKT. The share dilution has been a negative, but it is offset by three huge positives. They are earnings, stock dividends and an eventual AMEX listing.
At this point where the dilution came from is not the important issue. We have 141M shares outstanding and thats what matters. Phil has promised to lower the fully diluted count when he issues first quarter results. He must now put up or shut up. If there are still a lot of preferred shares that haven't been converted then they will still be counted as part of the fully diluted and Phil will not be able to reduce the fully diluted. If the fully diluted count drops then we will know that most of the preferreds have been converted. I am not interested in where the 141M shares came from. I am interested in how many more shares are still out there? There really isn't much difference if shares get converted from debt or preferred shares because either way you are converting shares in exchange for money that was borrowed to fund growth. If you know of a specific case where debt was converted that was never on the books please give us the facts that back that up. Tell us how many shares were converted at what price and when. Give us some proof that these shares were not on the books.
All the preferred shares should be gone by now. If the 182M fully diluted share count as of the end of the year was correct then all shares other than the VTI loan shares(40 million) should be converted by now(141M + 40M = 181M). The problem is that the 182M count was a weighted average for all of 2006 which means that the actual fully diluted count as of the end of 2006 was probably higher. I'm guessing there are another 10-20 million shares still out there to be converted. The 40 million VTI shares will not be converted. They will be partially switched to stock in subsidiaries and partly switched to a non convertible loan.It is possible that some of the other shares will get switched to subsidiaries, but not very many because most of them have allready been converted to NMKT common. I still expect around 150M shares to be outstanding after all conversions are complete. I do believe we are getting close to the completion.
You're off on your decimal point. The DFTS dividend amounts to .006 of a NMKT share. Anyone that owned 10,000 shares of NMKT as of July 1, 2005 will get 1,000 shares of DFTS which is worth $60.00. Pretty insignificant. If you bought NMKT in the last half of 2005 or anytime in 2006 you get nothing. Keep in mind that Phil has said several times that there will be a stock dividend in at least one of the other subsidiaries before the DFTS dividend. That is what we need to be watching for. DFTS has a market cap of about $2 million. Xiptel has projected revenues of $15 million for 2006, Systems integration has projections of $12 million and Latin America and China should both be close to $30 million in revenue. These dividends are FAR FAR more important than DFTS. We need to take our focus off the DFTS dividend and watch to see which subsidiary will be the first to announce a dividend and how much we will get. Those who bought in 2006 will get the dividends in the other subsidiary.
The DFTS dividend is supposed to go to NMKT shareholders of record as of July 1, 2005. This makes no sense whatsoever. Most of the people that receive the DFTS dividend will no longer own NMKT stock. These people will have little interest in DFTS since they no longer own NMKT and will probably just sell their shares. The people that own NMKT stock now will be upset when they find out that they aren't getting any dividend. It seems like it would make a lot more sense to pay the dividend to current NMKT shareholders. They would be more interested in DFTS and would be more likely to keep their shares. I still remain positive, but continue to be frustrated by a lack of information regarding the major issues facing the company. These are the AMEX listing, the stock dividends, the share reductions and the stock buyback. These are the most important issues facing NMKT and none of these have been resolved. We just have a lot of promises that haven't been fulfilled. I will continue to hold for the long term. I am convinced that some day these issues will get resolved. I just think it has taken longer than it should and that Phil has done a terrible job of explaining why to NMKT shareholders.
The whole DFTS thing is a joke. DFTS is virtually worthless and a dividend would be a waste. To think about going back more than a year(if done in late 2006) and issuing a dividend to shareholders of recorn as of July 1, 2005 is ridiculous. Those shares would be distributed mostly to brokers. There will be people that have closed their accounts or transferred their accounts to other brokers. How will the brokers get those shares to these shareholders? They have to find them, issue stock certificates, or reopen their accounts and sell their shares and send them a check. THe value of DFTS is so low that most people's DFTS shares would not be worth enough to pay the commissions on the sale. If NMKT issues 10,000,000 DFTS shares to NMKT shareholders many of them will want to sell those shares. Whose going to buy them.? With all those shares being sold DFTS will go down to virtually nothing IMHO. They have no revenues that we know of. They don't report any financials. They are another mystery that Phil tells us nothing about. IMHO we should forget about DFTS and concentrate on getting any one dividend in any subsidiary paid. When you tell people you will issue dividends and don't do it and repeat the promise people don't believe it. When you tell people you will issue a dividend and you do it and promise more people will believe it. Any one actual dividend paid would dramatically change everything for NMKT.
SBC is a perfect example of what I am talking about and why I am frustrated. SBC has sold most of her stock because she got tired of the broken promises. There are hundreds of other people that have done the same thing. The thing that is different is that SBC is still here and is trading the stock. Most of the people that sold are gone and will never be back. Stocks go down for one reason. It's because people sell their shares. Most NMKT sellers fall into two categories. Financiers that are selling their shares as they are converted and disgruntled shareholders that are selling as they get fed up with the broken promises. No one would sell their shares because of the financial performance. If you want your stock to go up you must have a strong base of happy shareholders that are holding for the long run. This way shares are not being constantly offered for sale and buyers must bid prices up because shares are hard to come by. NMKT shares are easy to come by because new shares are constantly being issued and disillusioned shareholders are constantly bailing out. Phil must stop his constant flow of broken promises or we will never have happy shareholders that stay in for the long term.
I guess I haven't done a very good job of explaining my frustrations with Phil on these broken promises. It's true that Phil can't help it if the AMEX changed its rules and instituted a $2 minimun price. What frustrates me is that Phil has done nothing to keep shareholders informed of the progress of the AMEX listing. We don't even know if the $2 issue is the main issue because he won't tell us. This whole AMEX issue has caused much speculation about a R/S and IMHO many people sold their NMKT stock or decided not to buy because of fear of a R/S. Phil says he is opposed to a R/S, but has never flat out ruled it out. We really have no idea what is going on with the AMEX. Phil may have been outvoted on the DFTS dividend, but those that outvoted him are long gone and one now works for Phil as CFO. There has to be other reasons that the DFTS dividend is held up, but we have no idea because Phil tells us nothing. There were supposed to be three stock dividends paid by December 31, 2005. What happened to the other two? We have no idea because Phil tells us nothing. He just repeats his broken promise and says it will happen by April of 2007 now. My problem with Phil is that he doesn't explain whats going on to shareholders. He hides things. I have made a decision to hold my stock for the long term, but that doesn't mean I can't get frustrated when Phil destroys the stock by making promises and not keeping or explaining them. I wish I could trade more, but its a lot harder than it looks. I am great at deciding what to do after its over. Do I buy tomorrow at .45 or do I wait for .39? I prefer to hold for the long term. Its just a shame that Phil can't get his act together so that this constant selling pressure can stop. It is absurd that this stock is under $1. I blame Phil's fiascos, not market dynamics for this. BTW, the board moderator doesn't do anything so it doesn't matter who is moderator. We just post and make comments and suggestions just like everybody else. We do nothing that an average poster doesn't do.
Here is a list of broken promises that Phil has made to NMKT shareholders. NMKT will do $75 million in revenues in 2005. NMKT will pay three stock dividends in its subsidiaries by December 31, 2005. NMKT will obtain a listing on the American Stock Exchange. NMKT will announce a reduction in fully diluted shares by switching convertible shares over to shares in NMKT subsidiaries. NMKT management will begin a stock buyback program that will reduce O/S. These are huge issues that if they all happened would send NMKT stock skyrocketing. The problem is that none of them have happened. They all represent broken or unfulfilled promises to NMKT shareholders. Selloffs such as the last three days will happen over and over and over until these promises are fulfilled. The staus quo continues. Promises of share reductions as millions and millions of new shares are being issued on a continuous basis.
Nothing ever changes with NMKT. I have owned it for over a year and the pattern is always the same. A PR comes out and the stock goes up for two days then immediately starts dropping. It drops continuosly until the next PR comes out and then the pattern starts over. This will continue forever until Phil ends his broken promises and declares the first stock dividend. Higher first quarter results will spark another short term rally that will end quickly. Phil has dug himself into a deep hole that we will never get out of until the promises are fulfilled. Look for NMKT to remain in a trading range forever until this happens.
My problem with Phil is that he sweeps things under the carpet. When something doesn't happen like he said it would he ignores it. He just repeats the promise with a new time frame. I think that everyone here must agree that if Phil says something will happen that it can't be relyed on. What Phil says and $4 will get you a cup of coffee at Starbucks. He has failed on way too many promises and timeframes($75 million revenues, AMEX listing, stock dividends, share reduction plan by March 15, stock buyback program, Skylynx, late Unione closing, etc). I have no desire to participate in any personal attack on Phil. My motive is 100% clear. I want NMKT stock to go up. I believe that Phil has hurt his own reputation and our stock price with his blunders. I want to see Phil tell us exactly what is going on with the AMEX application. Must we wait for a $2 stock or whatever? Exactly why were the share dividends delayed and what is being done about it? If Phil will be more open about things his reputation will be restored and it will help our stock price. Isn't it interesting that all three moderators here have been posting negative posts lately? These are all strong NMKT supporters with concerns. Everyone talks about how bad all of Phil's aquisitions are doing yet he posted $50 million in revenues and $3 million in profits. Something is obviously working and some divisions are doing very well. Phil just needs to be a standup guy and take responsibility for his mistakes and stop sweeping things under the carpet. He says he communicates with shareholders, but he only communicates in bits and pieces. He leaves out so much about what is really going on. Phil needs to become a straight shooter and we will all be very wealthy people.
It looks like the board just wants to talk about Charleoi and Phil's reputation right now so I will jump in. As far as Charleoi is concerned he obviously has a personal vendetta against Phil and I take everything he says with a grain of salt. He may have some valid points, but everything he says is tainted. I don't believe that Phil is a liar for one minute. I believe that when he predicts $75 million in revenues and three stock dividends by the end of 2005 that he expects that to happen. He just says that he can do things that he can't do in the timeframe he announces.
I'm a little confused about this stock buyback program. I can't tell for sure if this is a buyback by individuals in management or by the company itself. We don't have many people in management unless they are counting subsidiary managers. It makes a difference in the O/S. If individuals are buying for their own accounts then the number of shares outstanding doesn't drop. It just means that they own a greater number of shares and those shares hopefully are no longer available for sale. If the company purchases the shares then those shares are retired and the O/S drops. You get a double benefit because the buying pressure increases the stock price and the O/S declines. Anybody have any thoughts on this? If a legal review was necessary it seems that the company must be involved somehow. If individuals just wanted to buy it seems like they could do that anytime they wanted. ??????
138,000,000 O/S. Someone on RB checked on the O/S last night and it is now 138,000,000. This confirms my belief that virtually no one is switching their shares to subsidiaries except Phil. IMHO Phil is trying to push everyone with convertibles to either exchange for subsidiaries or for NMKT common shares now. This could be related to the AMEX application. Getting rid of the convertibles might have been one of the AMEX requirements for listing. We don't know for sure because Phil will tell us nothing about the AMEX application process. This convertible conversion is a two edged sword. The bad news is that the conversions are being made at low prices and therefore many more shares are being issued than originally hoped for. The good news is that if this conversion process ever comes to an end the selling pressure will stop and the stock will skyrocket. IMHO the stock would be $1 right now if we had not converted 33,000,000 shares since January. These 33,000,000 new shares kept a lid on the rally and offset the great financial report. Another good thing about the conversions is that since most people did not take shares in subdisiaries it will not dilute the subsidiaries as much. The more subsidiary shares that are issued to convertible holders means fewer shares are available to be paid to NMKT holders as dividends. The real news I am waiting for on May 15 is not a reduction in the fully diluted, but an announcement that all convertible conversions have been completed. Once that occurs there will be no more constant selling pressure on the stock. It is amazing that the stock has gone from .27 to .48 in recent weeks despite the addition of about 21,000,000 new shares into the market. Imagine what could happen if this dilution finally comes to an end?
Another disappointing PR IMHO! I hate to be sounding negative all the time anymore, but I'm just telling it like it is. Many of these PR's are disappointing not because of what they say, but because of what they don't say. He said Latin America would post record revenues, but not the whole company or any of the other divisions. Why only Latin America? He has said before that guidance would be raised after the Q1, but didn't mention that this time. Maybe I'm just a worrywart, but these inconsistancies and partial information are worrysome. What is a solid quarter? Higher revenues? Higher profits? It's just more confusion. As far as the share reduction plan it is obvious that most of the preferred holders allready converted their shares. The whole share reduction plan IMHO was just a smokescreen to cover up the massive conversion of shares that has been going on.. The 40 million shares associated with the VTI loan were never supposed to be converted anyway. The promise of some great plan to reduce fully diluted was a joke. It appears that virtually nobody is participating in swithching their shares to subsidiaries except Phil because most of the shares have allready been converted to NMKT common. I expect at least 150 million O/S when all is said and done. The stock buyback program is just another promise never implimented, but delayed again. Of course, nothing was said about an AMEX listing or stock dividends as always. We have now gone 111 days past the deadline for payment of the first three stock dividends with no explanations. When estimating first quarter results don't forget that Unione revenues and profits only count from the time the aquisition was completed which I believe was around March 8. That means we will only get about three weeks of revenues or about $1 million in the first quarter. The full impact will be felt in the second quarter when we should get about $4 million in revenue and about $300,000 in net profits(IMHO). I am estimating first quarter revenue of about $17 million with a net profit of about $1.4 million. Fourth quarter profit was $1.5 million on revenues of $15.4 million or about 10%. That was pretty spectacular. I hope we can keep that up, but I don't want to over expect on the first quarter. We don't need any more disappointments.
I guess I lost my cool didn't I? Being a NMKT shareholder since December of 2004 has been one of the most difficult experiences of my life. It has been so frustrating to see a company that performs so well whose stock performs so dismally. I have had to sit there watching the stock drop day after day after day as more and more good news is announced. My frustration level grew to the breaking point when the last CC only offered more delays and more disappointments. I stick by my belief that the stock is out of favor on Wall Street because of too many unkept promises and failure to properly communicate what is going on with shareholders. IMHO repeating past promises and delaying the dates on and on is not communicating with shareholders. I do apologize for going off like I did. I will take a break from the board and try to chill out if thats possible under the circumstances. I said what I had to say and I really don't have anything constructive to contribute right now. Hopefully, I can return under better circumstances.
In March of 2005(see post #4394) Phil told NMKT shareholders that he intended to pay stock dividends in three NMKT subsidiaries by the end of 2005. In January, 2006 he told shareholders that he has a plan to pay stock dividends in NMKT subsidiaries. In February, 2006 he told shareholders that he has a plan to pay stock dividends in NMKT subsidiaries. In March, 2006 he told shareholders that he has a plan to pay stock dividends in NMKT subsidiaries. In April, 2006 he told shareholders that he plans to pay stock dividends in several NMKT subsidiaries within the next twelve months. That means the timeframe for paying these dividends has been changed from December of 2005 to April of 2007. This is a sixteen month setback in the timeframe. There has been no explanation as to the reason for this sixteen month delay or as to what is actually going on right now concerning the progress of these dividends. That is my definition of jerking people around. Who sold in the .60s has nothing to do with it. I am a long term investor. If you are good at trading good for you. That has nothing to do with the issues we are discussing. I have invested 100% of my IRA in NMKT. I intend to start selling at the end of 2006 a few thousand shares at a time for three to five years. I expect to start selling at $2.00 and to be at $5.00 in a couple of years. This would secure my retirement. Am I Crazy? Of course, but that is my choice. Since Phil chose to sell shares to the public he has an obligation to represent our interest. My concern is that this constant failure to meet goals and timelines with no explanations or information will destroy NMKT's reputation and its stock price. I think the job Phil has done in producing financial results has been incredible, but look at the stock. Results are meaningless without a good stock price. There are many, many companies out there with much worse results than NMKT and much higher stock prices. Why? Market dynamics? Give me a break. How about lack of confidence and broken promises? How about lack of information about all these planned dividends? The comments on this board show that I am not alone in how I feel. I believe there are hundreds of others out there that feel the same way, but they are not here anymore. They got tired of waiting and got disgusted and sold. Many more will continue to sell until credibility is established. I am not a Phil basher. I am just extremely frustrated because I believe Phil could fix NMKT's problems at anytime by simply opening up and giving shareholders a full account of what has happened, what is happening and what is about to happen. NMKT has become a trading vehicle for day traders and momentum players because they can't get many fools like me to hold for the long term. Most people after they are told something will happen over and over and it doesn't happen get tired of waiting and move on. I am stubborn. I keep hanging on no matter how much I get jerked around, but I am in the minority. I must admit that I hang around with increasing frustration.
You're totally missing the point. It's not a matter of not making mistakes or timelines. Its a matter of when you promise something to somebody and don't do it you go to them and offer an explanation as to why you couldn't do it and what you are doing about it. That is integrety. My motive is to swee the stock go up and I hate it when it goes down because of delays and broken promises.
I've got to take SBC's side on this one. We just saw a great 10K report followed by a huge selloff in NMKT. We are now down more than 35% since Thursday's high. A pullback is normal, but a pullback of that magnitude was unnecessay. I believe it was caused by disappointment over the lack of progress and lack of disclosure concerning major issues facing NMKT. SBC, I totally agree with you and your post was excellent. NMKT is continuing to develope a huge credibility gap. There were more promises made in the CC. Phil said the goal for an AMEX listing was calendar year 2006 and that several stock dividends would be issued within twelve months. He pushed the timeframes way out on these issues, but did establish new time lines. I agree with SBC and am rapidly losing confidence in Phil's integrety. A persons word of honor means everything. You can either trust a person or you can't. Phil is doing nothing to earn people's trust in him. Coming out with good results doesn't create trust. A lot of people have come out with good results, but proved to be untrustworthy. Missing a deadline doesn't cause a lack of trust. Jerking people around causes a lack of trust. I believe that Phil is jerking us around. I agree that we need to hold Phil accountable. He owes us an explanation as to why these issues keep getting delayed and EXACTLY what is being done about it. NMKT can keep producing good results, but the company's reputation will continue to be tarnished until Phil comes clean with shareholders. I am not trying to be a basher. I am very bullish on NMKT. I just believe we are at an important crossroad. We are running out of time as far as establishing NMKT as a credible company. Every CC digs us deeper in the hole. Every delay and broken promise lowers our credibility a little more. At some point and time soon NMKT needs to start being honest with investors and give explanations concerning missed projections and missed timelines. I believe that point should be right now.
What would it take to make me happy? What kind of PR from NMKT would I like to see. Here is an example of the kind of PR I would like to see issued. The facts are all fictional of course because I have no idea what is going on because Phil won't tell us. NMKT announced today the progress that is being made concerning the payment of stock dividends in their subsidiaries. The company said they had planned to issue these dividends in 2005, but the process was delayed because the applications with the OTC.BB took a little longer than expected and the plan to exchange shares of NMKT common shares into shares of the subsidiaries also delayed the process. On February 10, 2006 NMKT Systems Integration, New Market China and Xiptel all applied for listing to the OTC.BB. The process is expected to take around ninety days. Once the applications have been approved we intend to conduct IPO's in all three companies. Some shares of each company will be issued in exchange for NMKT debt and convertible preferred shares. Then stock dividends will be declared in all three subsidiaries. We are targeting June or July for the announcement of these dividends. Our plan to switch our convertible preferred shares over to the subsidiaries is on track. Several preferred holders have elected to convert to NMKT common stock and several will be converting to shares of the subsidiaries. The $4 million VTI loan will be converted to a $2 million non-convertible loan at 8% interest due in 2010 and the other $2 million will be converted to shares in each of the three new stocks and some shares in New Market Latin America. None of the VTI loan will be convertible into NMKT common shares. We expect these conversions to be accomplished as soon as the three subsidiaries receive their OTC.BB approvals. The American Stock Exchange has informed us that we now meet all requirements for listing on the AMEX except the $2 share minimum. We have appealed the $2 share minimum requirement and the AMEX says they will give us a final answer within thirty days. If the AMEX insists on a $2 minimum we will wait until our stock reaches that level. With improving financial results, stock dividends in four subsidiaries(including DFTS) and a reduction in fully diluted shares we believe that we can achieve a $2 stock price by year end. We have ruled out any consideration of a reverse split. We will continue to keep you up to date on the progress of these important events. If there are any changes in circumstances or time delays we will let you know you know right away. ------- Would you have confidence in a CEO that spoke frankly and kept you up to date like that? I sure would. IMHO NMKT stock has underperformed because of two things: 1)the issuing of new shares that get dumped on the market 2) disgusted investors that give up and dump because of broken promises, constant delays and lack of information. It is difficult to keep investors for long periods of time. If you want to keep investors you must keep them happy and comfortable with their investment by keeping them informed.
I agree with everything you are saying except that I don't think that making predictions that don't come true is the main problem. Phil is enthusiatic about New Market and sometimes gets a little carried away when making predictions and setting dates. The real problem is how do you handle something like this after it happens? Do you ignore what happened and extend the timeline furthur and furthur down the road without any explanations as to what happened or what is going on now or do you update shareholders on the reasons for the delays and keep them informed of what is happening now? If you ignore what happened and keep changing the timeline without any explanations then you get a reputation as someone that can't deliver on their promises and someone whose word can't be trusted. If you explain what has happened and what is being done to fix the situation to shareholders then you get a reputation as someone that is transparent and can be trusted. People have a lot more patience when they are being informed about what is going on. Hence the difference between a .50 stock and a $2.00 stock. IMHO
Every once in awhile I tell someone that I am going to do something and for some reason I am not able to do it. I always feel bad when that happens. The first thing I do is to contact the person and explain to them what happened. If I can do it later I let them know when I can do it and I make every effort to do it when I say. In March of 2005 Phil told hundreds of NMKT shareholders that he was going to pay them stock dividends in three NMKT subsidiaries by the end of 2005. He didn't do it. Many people have made investments based on those promises. My problem is not that this wasn't done by the end of 2005 because these things happen. My problem is that Phil has done nothing to explain to these hundreds of shareholders what happened and he has done nothing to explain what he is doing to accomplish the dividends or when they will be paid. He just keeps repeating the same promise over and over as more and more time goes by. IMHO he has turned a huge positive into a huge negative my making this a sore point with investors. A broken promise is much worse than no promise at all. It comes to a place where investors don't feel that you can trust anything you tell them when you keep breaking promises. Everybody makes mistakes and stuff happens. Whats important is how you handle it. NMKT shareholders deserve some honest answers. What happened? What is being done about it? When will it be accomplished? Period! Just be totally honest about everything and be transparent with shareholders. I have been one of the strongest supporters of NMKT for quite some time and continue to be. I feel that I have earned the right to whine a little when things aren't right. Things aren't right now and those hundreds of shareholders that made investment decisions based on the promise of stock dividends deserve some answers.
Suppose that somebody borrowed some money from you in March of 2005 and promised to pay you back by the end of the year. In January you had not received your money so you asked the person what happened. They told you they had a plan to pay you back and they would pay you back, but they offered no explanation about what happened or when they would pay you back. You checked again in February and they told you the same thing. You checked again in March and they told you the same thing. You checked again in April and they told you the same thing. No explanations and no time table. This is what is going on with NMKT. Why am I so upset? I recently made a decision to put 100% of my IRA into NMKT. A lot of that was based on NMKT's promise to pay dividends in it's subsidiaries. Before you tell me how nuts I am let me say that I only had $20,000 to invest. That won't get you much of a retirement if you diversify you're money. I need to hit the big one and I remain convinced that NMKT is the big one if they would only get their act together. I believe that NMKT should be at $2 right now based on its results. $120,000 would get you a decent retirement. I believe that part of the reason NMKT stock is so low is because they don't fulfil their promises and they don't adequately explain what is going on. They just make the same promises over and over again and change the timeframe furthur and furthur out. I guess I am just wearing my emotions on my sleeve right now, but I have a lot at stake here. I feel that I have been betrayed. I have put everything I have into NMKT and NMKT's response is to blow me off and to withhold information about what is going on with the company. Forgive me if I seem negative. I have never been as positive on a company as I am on NMKT. I am just furious right now because I cannot get decent information from them about what is going on concerning AMEX, share reduction and stock dividends.
firecracker. It's Okay No! It's not OK. I am not upset because events don't always happen the way you expect or when you expect. Life is uncertain and things change. I am upset because NMKT shareholders are not offered any explanations when things change and we are not given progress reports on the status of important events. NMKT shareholders were told in March of 2005(see post 4394) that we would receive three stock dividends in 2005. These stock dividends were never paid to NMKT shareholders. NMKT shareholders have not been told why we didn't receive these promised dividends and we are not being given updates on the progress of paying these dividends. We are basically being told that "the check is in the mail". NMKT just continually stalls us off by constantly delaying the timetable for paying these dividends with no explanation offered. IMHO NMKT has no regard for its long time shareholders that have patiently waited for these promises to be kept. Now we can add the promise of reducing fully diluted shares to our list of delayed promises. At first it was said that this would be announced with the filing of the 10K. Then it was changed to before May 15 and now it is "we are working on it'. I for one am fed up with "we are working on it". Longtime shareholders that have endured so many delays from this company are due some explanations. Now we are being told that stock dividends will be paid over the next twelve months. Will any dividends come sooner than that? We don't know because NMKT will not give us any information regarding the progress of these dividends. I would like to know which subsidiaries have filed for stock listings, how far along is the process, are IPO's planned and when, which subsidiaries will be involved in the exchange for NMKT preferred shares, how many shares will be issued in each subsidiary, what percentage of ownership will NMKT shareholders receive in the subsidiaries etc? I am not upset because Phil makes promises and then doesn't keep them. He is enthusiastic about NMKT and gets carried away sometimes(such as predicting $500 million in revenues) I am upset because Phil offers no explanations when these things don't happen and he keeps shareholders in the dark as to what is going on. Phil thinks its Okay to make a promise and after seeing that it doesn't happen as planned to blow off shareholders by simply repeating the promise again with a new down the road timeframe ad infinitum. You simply tell them that the check is in the mail. When they call back and tell you that they didn't get their check you tell them it must have got lost and we'll send you another one in the future. "We're working on it" is the theme of New Market Technology. I believe that Phil is the best CEO I have ever seen and he is also the worst. When it comes to producing results no one can touch him. His performance has been spectacular. When it comes to doing the things to promote value in NMKT stock he has been a disaster. NMKT has very little credibility in the marketplace because they don't do what they say they're going to do IMHO. NMKT needs to be more transparent with its shareholders. They need to offer explanations when things don't happen as promised and they need to do a better job of informing shareholders about what is going on regarding vitally important issues.
Dallas, Texas - March 15,2012 - New Market Technology today reported fiscal results for the year ending December 31, 2011. The company reported revenues of $50 billion compared to revenues of $25 billion in the previous year. Net profit was $5 billion or $333.00 per share compared to $2.5 billion or $165.00 per share in the previous year. NMKT is forecasting that revenues will double in fiscal year 2012. The company announced that they were expanding their board of directors to seven and that George W.Bush and Hilary Clinton would be joining their board. The company said divisions on all six continents and all five planets were all doing well. The company said that they expect their application for admission to the American Stock Exchange to be approved sometime in 2012. They also said that they were "working on" a plan to reduce fully diluted shares. They also announced plans to start paying stock dividends in some of their sudsidiaries beginning within the next twelve months. New Market Russia and New Market Saturn and Jupiter are expected to be the first dividends paid. Stockholders of record as of July 1, 2005 are expected to receive shares of Defense Technology Systems(DFTS) sometime during 2012. NMKT shares closed in active trading on the OTC.BB today at .50. ---- I just thought you might enjoy a glimpse into the future.
Looks like we shot ourself in the foot again. Great fundamentals are cancelled out by more delays in coming through with share reduction, AMEX listing and stock dividends. More broken promises after broken promises. I continue to say that no amount of great fundamentals will ever make up for the broken promises until NMKT actually does something that it says it will do. This company has let shareholders down time and time again. The financial results are phenominal and the future looks unlimited, but to be a NMKT shareholder you must enjoy pain and suffering because this company always pulls the rug out from under your feet just when things are starting to look promising. After a runup of this magnitude a pullback is to be expected, but the pullback did not need to be this dramatic. NMKT is down 25% from yesterdays high. IMHO the pullback was much greater than necessary because of disappointment over major issues that NMKT always talks about, but never does anything about. Until NMKT actually does something about share reduction and paying at least one stock dividend this stock will continue to suffer. We were promised a stock dividend over a year ago and now we are talking about dividends being paid over the next twelve months. Does this mean that it could be next year before we see our first dividend? We really don't know because the comments are always vague and they change with every PR. First the share reduction was to happen with the release of the 10K, then it was to be before May 15, now they are "working on it". The next PR will say something completely different. Excuse me for venting, but after 15 months of this I am fed up.
I'm not surprised that NMKT crashed after the CC. The CC was most notable for what it didn't say rather than what it did say. IMHO NMKT has four major events that need to be completed before the stock goes above $2 and stays there. Those four events are: 1)strong fourth quarter and first quarter results 2)a reduction in fully diluted shares 3)an AMEX listing 4)payment of one or more stock dividends in subsidiaries. Half of event #1 has happened and thats why we are a .50 stock instead of a .30 stock. IMHO the CC seriously damaged the near term prospects of the stock because the other three events were poorly handled. IMHO the AMEX listing will not come until after NMKT goes above $2. Phil says there is a case to be made that NMKT should be grandfathered in without a $2 price limit. IMHO that means the AMEX has not agreed to that or we could get listed now. Now that we have 5 board members, a CFO , a $2.9 million profit and a $65 million market cap there should be nothing holding back an AMEX listing except the $2 rule. Since Phil has ruled out a R/S I expect to have to wait until we get above $2. If the AMEX was going to grandfather us in they would have done it by now. The news regarding the share reduction was very disappointing and harmful to the stock because no time frame was given. With 183 million fully diluted shares now and 105 million O/S at the start of the year there was the potential for 78 million shares to be converted. 40 million of those were related to the VTI loan and 38 million were related to convertible preferred. We now have 128 million shares O/S which means that 23 million of the convertible preferred shares allready got converted. That leaves 15 million more from convertible preferred and 40 million from the VTI loan. Phil must negotiate a settlement regarding these shares. Guess who Phil needs to negotiate with? Himself! Phil is the one that must decide what to do about the VTI shares and is holding up the process. Most of the other shares were allready converted and what happens with those 15 million shares won't make that much difference in the final outcome, but the 40 million shares will make a big difference. NMKT says they are working on a plan to convert these shares, but no time frame was given. The problem, as we all know, is that NMKT is always "working on it", but never getting it done. Everytime we make a statement that we are still "working on it" we are just saying that we have no progress to report and more delays are expected. The statement that several subsidiaries will issue stock dividends in the next twelve months was another statement of "we're working on it.". NMKT shareholders have heard that over and over and over and over. They are always "working on it", but they never report any real progress about har far along the process is. About a month ago Phil said that several subsidiaries had allready applied for independent listings, but nothing was said to update the progress of these applications. The worst thing we could do is to put a date on something and then not meet that date, but there is no reason why we can't be given more information. What subsidiaries have applied? How far along in the process are they? What subsidiary will pay the first dividend? So many things that we nevwer get told. Only general promises that never happen. IMHO NMKT will never make the big time until they stop "working on it" and start doing it.
Hugh Robinson! IMHO the addition of Hugh Robinson to the NMKT board of directors is the most significant thing that has happened to NMKT. I believe that Mr. Robinson is taking a large personal position in NMKT. I don't believe that he would go to China with NMKT for ten days unless he had a personal interest in NMKT. Phil mentioned Mr. Robinson's contacts several times during the CC. IMHO the sudden contacting of large Texas corporations and the warm Texas welcome are due to the presence of Hugh Robinson. I expect some large contracts to come from Mr. Robinsons contacts. I don't believe that 26 people would have gone to China except for the presence of Mr. Robinson. Before Hugh Robinson NMKT was a strong buy with a great future. Now that Mr. Robinson is on board the sky's the limit.
I don't understand why nobody seems to be picking up on the fact that NMKT says they have several Unione type(all cash) aquisitions in the pipeline and the potential is there for revenues well above $87 million. I thought this was the most significant thing in the CC, but nobody seems to be talking about it. They seemed to indicate that these aquisitions were being worked on now, not just being contemplated. The other significant thing was that outsourcing is going to be NMKT's main growth area. Like it or nor outsourcing is the wave of the future. It appears that NMKT intends to be in the forefront of outsourcing.
I have mixed feelings about the CC. For those of us that have been around for over a year it was disappointing that there is nothing new regarding the AMEX listing, the stock dividends or the share reduction. It was just a repeat of the fact that these things will happen some day with no hint as to when. The only thing new was that the AMEX listing is expected sometime this year. For those that are new they probably heard some things for the first time and should be encouraged. With the extremely high volume recently we have many new shareholders. They have not been waiting forever for a resolution to some of these matters like the rest of us have. There were some new things dropped in there. They apparantly are working on several Unione like aquisitions, there is the China outsourcing school in the U.S. and new large contracts in the U.S. coming. Overall, very positive. Just no end in sight to the waiting game regarding AMEX, stock dividends and share reductions.
#!&%:"+@!%^}#$ Which means welcome back from China. I heard a rumor that NMKT may buy China. That's why 26 people went on this trip with them. LOL Anyway, this has been a long time coming and its only the beginning.
It wasn't a matter of if. It was only a matter of when. I invested 100% of my IRA in NMKT at an average cost of .32. This is only the beginning. There are plenty of $2-$3 stocks out there that don't have the fundamentals. JUst wait until the share reduction AMEX and stock dividend news hits. All coming by May 15 IMHO> $1 by May 15 IMHO!
By selling shares in the subsidiaries through an IPO the subsidiaries will be able to raise their own cash for expansion without NMKT having to issue any new shares in NMKT or without taking out any loans. Down the road after these subsidiaries are thriving they will be able to make their own aquisitions with cash as NMKT did with Unione. There will be no reason for NMKT to need to sell any more of its own shares since money is being raised through the IPO's. By maintaining at least a 51% ownership NMKT still gets to count the subsidiaries results in its consolidated financial statements. By determining a value for the subsidiaries stock the market can monetize NMKT's value. Another words, if NMKT Latin America stock has a market cap of $50 million and NMKT owns 52% of the stock then we know that NMKT's investment in NMKT Latin America is worth $26 million. This will help the market see the rising value of NMKT's investments as these subsidiaries grow.
NMKT has a lot more going on for it right now to be overly concerned about a R/S. Phil has come out stronly against a R/S even saying that talk of a R/S makes him sick. Even if NMKT does a R/S it would probably be bullish in NMKT's case. Most R/S are done by companies that are having financial problems. They are usually trying to maintain their listing on an exchange or reducing their shares to prepare for another round of financing. In most cases these companies are losing money. When a company that is losing money does a R/S their loss per share increases. Suppose a company with 100,000,000 shares and a $5 million loss does a 1/10 R/S. Before thje R/S this company has a loss of 5 cents per share and after the R/S they have a loss of 50 cents per share. It is very unusual for a company with NMKT's financials to do a reverse split. If they did a R/S their EPS would increase dramatically. I am forecasting a profit of $6-9 million for NMKT for 2006. Last quarter they made $1.5 million. This translates to $6 million for the year plus $1 million for Unione. That comes to $7 million with no allowance for organic growth. If NMKT did a 1/5 R/S they would have an EPS of between .20 and .30 based on my profit forecast and 150M shares outstanding.. IMHO this would mean a stock price of between $5 and $9 after the R/S. Personally, I believe a R/S is highly unlikely, but even if one came it would help their stock. We must keep in mind that NMKT is a totally different company than it was one year ago. One year ago NMKT was a company with $25 million in revenue, just barely reaching profitability, no CFO, three board members, an SB company that filed late with new auditors, no China business, no Unione and facing the issuance of 50 million new shares in the upcoming year. Now NMKT is a company with $50 million in revenue, highly profitable, a CFO, five board members including a former regional Federal Reserve Board Chairman, no longer an SB, filed on time, $28 million in China business, Unione closed, bringing an end to the issuance of new common shares in the near future, several subsidiaries have applied for separate stock listings, $20 million in new contracts announced in the last month, an AMEX listing likely soon and the first stock dividend announcement likely soon. Talk about some changes in a year's time. Those that are judging NMKT on its past and what it was are making a huge mistake. This company is nothing like what it was one year ago. Those that throw the baby out with the bath water will have huge regrets down the road. How would you like to have sold MSFT in its early stages because it had a few bumps getting started?
Welcome. The AMEX filing was done a year ago before the $2 rule went into effect. We believe we may be grandfathered in because it was allready filed, but we don't know for sure yet. The holdup was waiting for the last filing as a SB which happened yesterday and IMHO expanding the board to five members and hiring a CFO which has occured. Phil says he has been knocking on the doors of large Texas companies and receiving a warm reception regarding new contracts. New contracts totaling about $20 million were announced a few weeks ago and an aquisition of a Brazilian company with $14 million in revenue was just announced. Phil is in China now looking for more aquisitions there. IMHO revenues will easily total over $100 million this year with profits of $6-9 million. We are waiting to hear shortly about the listing of some of our subsidiaries on the OTC.BB and the announcement of stock dividends in those subsidiaries. A fo0rmer regional FEderal Reserve Board Chairman recently joined NMKT's board and is in China with them now. I think you're going to be very pleased with your investment.
NMKT market cap is now $50 million with 128M shares outstanding compared to $30 million in early January when the OS was 105M and the PPS was .27. Thats not a bad increase for three months. Regarding the issuing of new shares let me say this about that. Everybody, including Phil, knows that the issuing of new shares has decimated NMKT share price. When Phil started this company he had to borrow money to make aquisitions to carry out his business plan. He knew he couldn't repay the money in cash so he had to issue convertible preferreds. Phil believed the stock would go higher and that when the preferreds got converted he wouldn't need to issue that many shares. As we all know, it didn't work out that way. Phil has had to issue a lot more shares than he had hoped. There is nothing that anybody can do about that now, It is a done deal. We can only judge NMKT as an investment based on where it is now. Do we want to own a company with about 150M shares outstanding with 2007 revenues of $100 million and net profit of around $9 million for .385?That is the question. BTW, we likely will also own shares in NMKT Latin America, Xiptel, DFTS and who knows what else by the end of the year. Phil has told us that he is no longer issuing shares to make aquisitions. We know that Unione was done for cash. There is no indication that Phil has issued any new shares for anything recently. If Phil was issuing more new shares the fully diluted count would increase. The fully diluted count did increase by about 10M in the 10K, but I believe that was due to the share price drop not the issuing of new shares. Some people want to be angry at Phil for something that was going on in 2003,2004 and 2005 that can't be helped now. They want to throw the baby out with the bath water because mistakes were made in the early formation of this company. The fact that only 15M shares remain to be converted is very encouraging to me. It means we are nearing the end of this conversion process. I don't want to see too many shares converted to subsidiaries because that will reduce our stock dividends by that much. The biggest single factor to remember is that Phil and his family own 23M shares of NMKT common. Does anybody really believe that Phil is irresponsibly issuing new shares now so that he can dilute and destroy the value of his 23M shares? I am convinced that Phil is doing everything possible to fix this situation. Those 23M shares are by far our greatest assurance of that. I just can't see being angry over something that happened two or three years ago, but isn't happening now. This whole process should be over within the next forty five days. BTW, I checked with IR and they said the CFO says that was the last filing for NMKT as an SB and filing that report as an SB will not delay the AMEX application. Have a great weekend.
The 95M is a weighted average for the year. You started out with about 80M and ended up with 128M and they average it out over the year. Its just an accounting thing. The 128M figure was in the 10K in a couple of places and confirms the figure posted on this board a couple of days ago. I don't remember where I saw it, but I saw it twice. Thats the actual # of shares outstanding as of March 31.
One down and four to go. NMKT should have five major announcements to make between now and May 15. Today was announcement #1. The other four announcements should be #2) a reduction in the number of fully diluted shares #3) An announcement of an AMEX listing #4) An announcement of at least one stock dividend #5) a great first quarter report. I am very concerned about this SB thing. I hope it won't furthur delay the AMEX listing. I wonder if fully diluted share count will come down with a higher share price? If some people convert now they would receive fewer shares of NMKT common because the price is higher. It looks like fourth quarter profits were around $1.4 million. The first quarter should reflect some profits from Unione, but the second quarter should reflect a lot more. We only owned Unione for a few weeks during the first quarter, but we will have it for the entire second quarter. I'm guessing that Unione made $918,000 last year because thats their target goal to get a bonus if they make more than that in 2006. With some organic growth and new contracts recently announced I think Unione will make over $1 million in 2006. I continue to hold to my forecast of $6-9 million in total profits for 2006. With 150M OS that would be EPS of 4-6 cents. With a PE of 25 we're looking at $1.00 - $1.50. I'll take that for this year with a much higher goal for next year. If we make about $1.6-$1.7 million in the first quarter we will report about a 1,500% gain in net profits when the first quarter gets reported. The second quarter could be more like a 2,000% gain since the first and second quarters last year only brought about a $100,000 profit each. It was nice to see accounts receivable drop by $5 million. That has been one of Charleo's big gripes.
Why was this filed as a 10KSB? Phil had said that the problem with the AMEX was that we couldn't qualify as long as we filed as an SB. He had indicated that beginning with this filing we would no longer be an SB. I hope this doesn't hold up the AMEX process. It looks like the fully diluted share count is now 183,000,000 and the O/S is confirmed at 128,000,000. That means there are still 55,000,000 shares that have to be converted to either NMKT common or shares in the subsidiaries. Apparantly, the attempt to trade for shares in subsidiaries hasn't been completed yet.