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I don't post on Yahoo??? Nor IV? Nor RB? What are you talking about?
Wrong again. They had accounting problems for over 1 year now.. they alread did restatements for 03, 04 and 05
BETTER for the bottom line? Are you insane?
I never sold, and gfy too.
You guys can kiss your azzes goodbye. $2 on Monday.
"The Company continues to evaluate the impact of the matters described above on its internal control over financial reporting and the Company’s disclosure controls and procedures. Management noted it had previously identified and described material weaknesses in its internal control over financial reporting in its Quarterly Report on Form 10-Q filing dated November 13, 2007. As a result of these previously identified material weaknesses and other deficiencies identified during the review of financial statements for the year ended December 31, 2007, management has concluded internal controls over financial report were not effective as of December 31, 2007. Additionally, management does not believe that the material weaknesses identified as of December 31, 2007 will be remediated by March 31, 2008 and anticipates that material weaknesses will be identified in its Quarterly Report on Form 10-Q for the first quarter of 2008. Therefore, management expects that internal control over financial reporting is likely to be ineffective as of March 31, 2008."
Fine, delete my posts. I'm outta here.
FRPT has orders only until May or June of this year.. anything else you hear is FALSE.
Why are my posts being deleted??? Pumpers daytraders scared? Leonidas, you deleting my posts?
And you still didn't tell me how my analysis is wrong.. premarket is tanking.
I'm pointing fingers at the US Marines who practically begged FRPT for vehicles in '06 and now throw them away like dirt. Screw the politicians like Lott who took money from NAVZ. And BAE lobbying money as well.
Yeah, I am pointing fingers.
Look at this post from Marine yesterday... nice to have inside info.
Posted by: MARINE-1
In reply to: None Date:2/27/2008 1:30:51 PM
Post #of 7565
Think I'm going to pull out for a bit guys. I'll jump back on at a later time. I have my reasons but I wish you all the best of luck. GREAT BOARD BTW:)
Oh and no it wasn't a flipp FWIW.
How am I wrong?? Didn't you sell yesterday.. hmm, I wonder, based on your name, if you had some knowleedge of what was goign to be said at the HASC testimony... interesting.
And yes, I'm holding.. can't go that much lower.
Listen to the testimony from yesterday... Marines are done ordering Cougars, and Army only wants 2 vendors, and they have a lot of Rg-33's, MaxxPros, and Caimans.
FRPT got screwed by the brass... only foreign orders for Cougars.
Only hope is the CHeetah and JLTV... but that's a long time away.
Very bad day for FRPT.
Here is the JLTV competition:
http://www.baesystemspresskit.com/jltv/
March 17 for earnings.
Could be DRS... but DRS's strength is technology... why would they want to saddle themselves with a manufacturing company? Maybe DRS buys the patents and the R&D and BAE picks up the plants?
As for rejecting the original buyout, remember, McGilton was in charge... new management now.
Ok, I read the 8-K again... be prepared for new owners (BAE).
1. As I stated, the 8-K limits shareholder power (like the Tutes)... why? They want to keep control with the BoD.
2. The 8-K allows for the Board to make decisions without shareholder approval.
3. DRS already has a relationship with BAE; FRPT just signed a relationship with DRS.
4. BAE knows it's RG-31 is crap, and knows it's RG-33 is too big for JLTV.
5. BAE wants the WHOLE MRAP pie, and wants to ensure most of the JLTV prize... why do you think it has partnered with NAVZ, DRS, and AH???
6. BAE already has a good relationship with the Army, but doesn't have the lightweight vehicle yet.
7. BAE approached FRPT last year (fact) and offered to buy them out at $12 - FRPT said "no".
8. McGilton forced out... he wanted to go alone.
9. AH PR guy brought in (AH was sold off to BAE...)
10. No CEO named (no need to if you are selling the company)
11. No production numbers released for January (1st time in a long time)... quiet period?
12. Tutes loading up recently (do they know of the buyout scenario)?
I'm still guessing $8-$10 PPS.
They are doing a few things..
1. They are preventing the big tutes from taking over the BoD or changing bylaws.
2. They are allowing for the SHM meeting to be delayed by 6 months.
CRDN missed estimates.. listen to their CC about hints about the Bull... it's all BS.
Here's the JLTV competition:
-AMG/GD
-BOEING/TXT
-LMT/BAE
-AH (now BAE) / NAVZ
-OSK / Northrop
-FRPT / DRS
-BAE / DRS
(Yes, BAE is worse than a 2 bit whore).
BAE is also in bed with DRS for the JLTV.. what does that tell you?!?!?!
They in bed with NAVZ as well! Means to me that they KNOW they can't compete with their own vehicles OR technology. So, they'll let NAVZ and FRPT battle out for the vehicles, they'll let DRS try to win the Tech part, and then they'll probably buy one of them out whomever wins.
This teaming now means FRPT isn't going awy this year or next or in 10 years.. it's here to stay.
Guys guys... relax, forget today.
Here is what is upcoming for this stock:
1. Earnings in 2 weeks.
2. New orders before May...
3. Cheetah orders?
4. JLTV initial orders.
Accumulate all you can. How do you think so many of us became millionaires on the last ride of FRPT? It wasn't in 1 day or with 1 piece of news. It took a year, but we went from $3 or lower to $30.
Accumulate and watch the rise over time.
I'm doing great now, FRPT officially going after JLTV.
Can you say $50 PPS in about, 1 1/12 years?
Who wants to bet their FRPT shares that earnings are NOT today???
Be a man, or shut up.
Earnings should be around March 1, but I'm guessing they postpone to 2nd week of March.
Buyout probably around $12... but, it won't happen until they partner with someone for the JLTV. Watch for that, then you know who will buy them.
Let me know the rocket as well.. Leonidas.
THE KEY, gentlemen, THE KEY...
WHY are the delivery dates for these 2 orders pushed out so far for 1/2 month of production (June, 2009)???
THINK THINK THINK.
1000 Cheetahs for the US
3 - 4000 Cougars for the US
In '08 and 1/2 half of '09.
BANK ON IT.
I'm hearing Cheetah 'news' around earnings.. which is only a couple weeks away.
Also, earnings will be a BLOWOUT.
Very simple. They are shorting against the box to hold it down until they have accumulated what they want.
Let me rephrase... 10Q is not until March, same day as 10K.
No 10Q tomorrow.. 10Q is the same date as 10K
VERY IMPORTANT DEVELOPMENT - READ HERE.
JLTV Solicitation Calls for Three Contractors; Officials Say More are Possible
MONTEREY, CA, Feb. 5, 2007 -- The Army and Marine Corps released today a request for proposals for the technology development phase of the Joint Light Tactical Vehicle program, kicking off a hotly anticipated competition to build more than 50,000 of the humvee replacements.
The solicitation says the government “desires” to award three contracts for the JLTV technology development phase, in keeping with new Defense Department policy on enhanced competition during development.
But military leaders speaking here at a conference left the door open on the number of companies that could receive TD awards, saying it will depend on the proposals received.
If it's technology they are looking for, look for FRPT to submit the ceramic new armor that they are developing with DuPont.
If it's the vehicle, look for the Cheetah, obviously.
Here's our competitors:
-Lockheed Martin and Armor Holdings (BAE Systems)
-AM General and General Dynamics
-Boeing and Textron
-Northrop Grumman and Oshkosh
-Navistar and BAE
Connect the dots:
1. New management
2. Rather than winding down operations, FRPT is hiring at a torrid pace
3. Major institutions loading up to the point where they must file 13Gs
4. Something fishy about Jan production numbers
5. Unsubstantiated reports that Roxboro is full
6. Visits by top brass to test drive a vehicle that matches their public statements about what they want
7. Cheetah has passed the blast test for MRAP II
8. MRAP II is budgeted in the multi-billion range
9. Foreign demand for Cougar and for Cheetah -- though the UK order for the latter was pushed back for some reason that was not well specified
10. Great balance sheet
11. Expecting great earnings in the near term
12. Technical analysis says FRPT is a screaming buy
13. FRPT hires a new company to communicate with retail, press, institutions, and INVESTMENT BANKS
What say you???
Watch for Cheetah test orders shortly for JLTV...
Someone bring up the chart on AH from inception to BAE buyout... that guy is a performer.
I'm hearing rumors of former Armor Holdings CEO coming in.. stay tuned.
Hmmm.. I'm hearing conflicting rumors..
One rumor, which is supported by all the hiring, is a BIG Cheetah order coming around earnings in late Feb, early March.. I mean BIG.
And the other is... that FRPT is going to be shopped around for a buyout. Look at the new IR guy... used to work for AH (who sold out to BAE)
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CEO's last day is tomorrow... I expect news next week.
Give it time... "build it and they will come".