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I decided to sell myself out for the moment and have done so in the last days. I did a mistake in my valuation of this company which is the reason why I have to think over how I want to value these kind of companies. I don't want to be invested in this stock as long as I haven't thought this over.
I still do think management does a very good job though. Also I think the balance sheet is strong. But I'm not convinced that the company has as much market strength as I want in an invested company.
It is possible that in a few months I'll reinvest into Armanino Foods, depending upon my opinion then.
I wish you all the best with this stock and other investments!
With many companies I also prefer if they pay dividends instead of growing or buying back stock. At the current price and for this company though, I prefer (in the following order):
1) Investing the money in the company
2) Stock-buybacks
3) Dividends
I think it would help the company to:
1) Make a shareholder letter at the beginning of the annual report
- It doesn't have to be a long one, just a bit more info from Mr. Pera about strategy and the past year.
2) Make news announcements after the close (Friday would be best)
- So the investors have more time to think about the news before they have to act on the market.
3) Make a conference call at the annual meeting which can be listened afterwards on the website
- Nice for everyone who would like to be at the meeting but can't go to it.
All these suggestions are cheap to implement but help the company to get more (long term) investors. I considered sending an email to the company about it but I think they do good work and I don't want to criticize them if they do manage the company in such a good fashion.
ARMANINO FOODS OF DISTINCTION, INC. ANNOUNCES REGULAR QUARTERLY DIVIDEND AND INCREASE OFAMOUNT AVAILABLE TO REPURCHASE ITS COMMON STOCK
HAYWARD, CA (December 9, 2011) Armanino Foods of Distinction, Inc. (Pink Sheets Symbol: AMNF) announced today that its board of directors has declared its regular quarterly cash dividend of $0.012 per share payable to shareholders of record January 3, 2012. The dividend will be disbursed on or about January 27, 2012. This dividend will be the Company’s 46th consecutive regular quarterly dividend. This dividend reflects the increased regular quarterly dividend amount that was raised from $0.01 to $0.012 in October 2011.
In addition the Company’s board of directors has authorized up to an additional $500,000 for the repurchase of shares of the Company’s common stock, making the Company’s aggregate authorization $2,500,000. Through November 30, 2011, the Company has repurchased 2,265,599 shares of its common stock for an aggregate purchase price of $1,711,391. The repurchase program will continue to be carried out in the open market through block trades or otherwise, or in privately negotiated transactions off the market, subject to market conditions. Any repurchases will be made at the discretion of management from time to time in compliance with Rule 10b-18 under the Securities Exchange Act of 1934. The repurchase program does not require the Company to acquire a specific number of shares and may be suspended from time-to-time or discontinued at any time. It is anticipated that the cost of any shares that are repurchased will be funded from the approximately $150,000 remaining amount available under the Company’s $2,000,000 credit facility or from cash reserves.
Douglas Nichols, Chairman of Armanino Foods stated, “The Company’s financial performance and condition continues to be strong. The board’s views regarding the various options for deploying our cash reserves and borrowing capacity have not changed. We will continue to manage our resources in a manner that we believe will maximize long term shareholder value.”
Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pesto sauces and filled pastas to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto Armanino offers other flavors such as Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic. Armanino’s Organic line includes classic Basil Pesto. Frozen pastas, sauces, meatballs and Focaccia are also offered by Armanino Foods.
For further information, please contact:
Edgar Estonina
CFO
(510) 441-9300
armaninofoods@armaninofoods.com
Financial report is out:
http://www.armaninofoods.com/data/financial_info/101520111139598_Q3-11-Quarterly%20Disclosure_Final.pdf
My personal highlight from this report:
"On November 4, 2011 the company drew an additional $250'000 from its $2'000'000 line of credit bringing the total drawn from this line to $1'850'000. On this date $150'000 is available for further draw of the line of credit."(p. 20)
I hope they find a nice swap for the 2nd $1'000'000 of this line of credit.
ARMANINO FOODS OF DISTINCTION, INC., UPS REGULAR QUARTERLY DIVIDEND BY 20% AND CONTINUES STOCK BUY BACK PROGRAM
Sep 22, 2011
OTC Disclosure & News Service
Hayward, CA -
Armanino Foods of Distinction, Inc. (Pink Sheets: AMNF) today declared an increased regular quarterly dividend of $0.012 per share. This new level is an increase of 20% from the prior regular quarterly dividend amount of $0.01. The dividend will be payable on or about October 28, 2011 to shareholders of record October 3, 2011. This dividend will be the Company’s 45th consecutive quarterly dividend. In addition, the Company has had nine special dividends.
Douglas R. Nichols, Chairman of the Board stated, “We are having an exceptional year and think we should reward our shareholders accordingly. Our balance sheet remains very strong.”
In addition, Mr. Nichols stated that the Company has continued its stock repurchases in the open market and that it has recently repurchased 300,000 shares of its common stock in a private block trade transaction from an unrelated non-affiliate stockholder. To date, since the inception of its stock repurchase program in September 2010, the Company has repurchased 2,064,742 shares of its common stock for an aggregate purchase price of $1,552,936. The Company has utilized its available line of credit to consummate these repurchases. After the shares acquired in the block trade transaction and other repurchase transactions previously conducted in the open market have been retired, the Company will have 33,053,038 shares outstanding. The Company’s board of directors has established $2,000,000 as the aggregate purchase authorization for the program. The repurchase program does not require the Company to acquire a specific number of shares and may be suspended from time-to-time or discontinued at any time.
Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pestos, sauces and filled pastas to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto Armanino offers other flavors such as Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke and Roasted Garlic. Armanino’s Light Basil Pesto and Armanino’s Organic line includes classic Basil Pesto. Frozen Pastas, Sauces, Meatballs and Focaccia are also offered by Armanino Foods.
For further information, please contact:
Edgar Estonina
CFO
(510) 441-9300
armaninofoods@armaninofoods.com
Congrats! I wanted to add between 0.65 and 0.69 but missed it when it hit 0.65. Still hoping it gets back to this level so I can add again. So if anyone is out there who wants to sell in this range... just keep selling :)
From yahoo-board by bellbell63:
"I queried AMNF about the new product. Here is the response from IR.
Thank you for your email. We have not officially introduced this item to the market, but what I can tell you is that it is a Light Basil Pesto. 50% less fat and 25% less sodium than our standard Basil Pesto.
Please let me know if you have any questions.
Best regards,
Fran"
ARMANINO FOODS DECLARES REGULAR QUARTERLY DIVIDEND
HAYWARD, CA (June 16, 2011)
Armanino Foods of Distinction, Inc. (Pink Sheets: AMNF) declared its regular quarterly dividend of $0.01 per share to stockholders of record on July 1, 2011. This cash dividend will be payable on or about July 29, 2011. This is the company’s 44th consecutive quarterly dividend in addition to nine special dividends over the same time period.
Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pestos, sauces and filled pastas to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto Armanino offers other flavors such as Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke and Roasted Garlic. Armanino’s Organic line includes classic Basil Pesto. Frozen Pastas, Sauces, Meatballs and Focaccia are also offered by Armanino Foods.
For further information, please contact:
Edgar Estonina
CFO
(510) 441-9300
armaninofoods@armaninofoods.com
You actually might have gotten some if the company bought up shares. I always say thanks if this stock drops for it's a good thing for the company to rebuy stock. So it feels like I would win both ways at the moment.
As far as I know there's no rumor about selling the company. Some people were just talking on the yahoo board that such a possibility adds to the value of the stock. But while reading their messages I got the impression they might actually accept if there would be an offer respectively they would like to have one. I really hope this company doesn't get sold for a long time and would vote against it if the price is not extremely much higher than now.
It's nice to see others who seem to have the same opinion. This is a gem which should be kept by people who understand its worth.
Hi everyone,
I'm a new shareholder here (I bought amnf a few months ago). I read some comments on selling the company on the yahoo board (don't think there are rumors on selling the company, as there are none as far as I know). Does anyone know how much shares are hold by the family? As I can not, as a foreigner I guess, post (and usually read) any messages on the yahoo board, I think I'll do it here. (If someone wants to submit my post to the yahoo board, I would have nothing against it.)
I am strongly against selling this company. It took me years to find a company of this class at such a price and I would not even consider selling any shares even if the price were 1.5 times it is now. I looked through practically all food companies and it is here were I put most of my investment money. I'm not the kind of person who has a strongly diversified portfolio, but I'm invested in a few companies. This company is by far my biggest position. I haven't took such a strong position for about two years.
They are practically doing everything right in my view. And I also think it is much wiser to buy back stock now than to increase (I would even go so far and say: to pay) dividends. They are extremely efficient and wonderfully focused. There are, all in my view of course, extremely few companies in the food industry who can match such a strength as theirs.
Why do I write this? I might well have the overconfidential bias, but I believe there might be some people in this stock who don't fully understand what such a (in my view cheap) price for a stock might mean. I simply fear that someone would really be willing to sell this stock for a few percentage points of gain, while we all could have had so much more.
I'm not professionally investing, but I have been a pretty freak about value investing for several years now. I have read many books about valuation and have been successful to date with investing (I'm investing since about 5 years).
Btw, I don't want to pump the stock with my comments. I also honestly don't believe it will have much of an impact. But I just wanted to add my view to the pool of views of others.
best regards,
asIfS
Parents, yes several people are there who either did not make any due diligence at all or who are bashers. Anyway, both is quite annoying. It's also quite strange as soon as you talk about longies and shorties every new poster says he is a longie and has invested for years but never posted anything.
About the IP address, it is technically impossible to do so on certain computers. As you can simply restart the rooter and get a new IP (on some computers, some have fixed IPs).
I might have a bit time to think about the meeting of the longies at some other place in a few weeks. If there is enough interest, I could think out some possibilities.
I have the feeling I have to post here again for once as yahoo gets more and more crowded with shorties!
Didn't thought this forum would survive after we all changed to yahoo. But maybe it gets again an important place for the longies. Thanks NEOhioinvestor for updating!
I still think we need a special place for the longies. Like a forum or something where we can cut short all the shorties!
I have to correct myself, it is probably 2.5 or 3.5 years and at least $160'000 not $320'000.
There has been money coming in, you did probably not make enough research.
Haven't you seen these?:
http://www.sec.gov/Archives/edgar/data/1119643/000114420407019180/v071687_ex10-18.htm
take a look under 5.1, 5.4
http://www.sec.gov/Archives/edgar/data/1119643/000114420407019180/v071687_ex10-19.htm
take a look under 4.2
It is dated of 2006, so it takes 4.5 (or 3.5?) years till we earn $320'000 from Nutra Pharma.
(And do not forget what Bret said about this at the shareholder meeting)
With today's news I think it looks quite nice as for if we will get cash or not.
Maybe I did something wrong, I'm thankful for every correction.
News:
NanoLogix Inc. to Present at The American Society for Microbiology (ASM) General Meeting in Boston; Announces Product Line and Provides Operations Update
Wednesday May 28, 10:00 am ET
HUBBARD, Ohio, May 28 /PRNewswire-FirstCall/ -- NanoLogix, Inc. (Pink Sheets: NNLX - News) a nano-biotechnology company is pleased to provide the following updates:
NanoLogix personnel will showcase company technology at booth 1304 at the ASM General Meeting and Exhibition in Boston, June 1-5 2008. The ASM meeting is the world's premier event for microbiology development. Representing NanoLogix will be Dr. Sergey Gazenko and CEO Bret Barnhizer. Exhibition information can be found at http://gm.asm.org/
At the ASM meeting NanoLogix will unveil ten products for use with their BNC and BNP technology for fast microorganism detection. This step is a milestone in company development. Director and company founder Dr. Robert A. Ollar, M.Sc., Ph.D. stated: "The sale of products developed by NanoLogix scientific staff marks an important stage in the evolution of the company. The firm is now putting its technologies into actual product configurations, and offering them for sale in the international market place where they will be utilized by the Global Scientific Community."
The company is also planning a new research and development facility in northeast Ohio. This facility will enable expanded R&D work on both Biohydrogen reactor development and BioNanoChannel (BNC) and BioNanoPore (BNP) technologies.
Hilda E. Diaz has joined NanoLogix in Cincinnati as assistant to Dr. Sergey Gazenko. Ms. Diaz holds an MS in Microbiology from Xavier University in Colombia, a BS in Bacteriology from Catholic University, and a BA in Business Administration. Ms. Diaz has extensive research and work experience in the field of microbiology. She was Professor in general microbiology, food microbiology and biotechnology at Catholic University in Colombia, and has extensive industrial experience in bacteriological testing. The company is pleased to have Ms. Diaz contributing to its efforts to further both Biohydrogen and BioNanoChannel technologies.
As for the bioreactor, it's a bit cold today to begin building I think - it may even have snow showers tonight there. And the whole week looks rainy. So I'm not so sure if we hear something about it this week, but the average temperature is rising every day.
I think if he would dangle that carrot, there would be others running faster than you after it.
This page exists since a long time, but I don't know if they changed some text or added new links. But it looks not especially new to me.
Looks like we will have sunshine the next working week in Erie. The better the weather, the nearer a reactor construction.
There are many ways to get out of a situation, it is to America to use them. Else, well, market will do what it have to...
And that is also our situation here, I think Bret takes the right steps, let's hope they will soon show some nice results.
Yes, day by day the weather gets a bit better in Erie, this means our chances rise every day we hear something about the reactor.
Hi Hum,
the problem is quite fundamental with corporation America. You and your husband may be interested in this:
http://www.berkshirehathaway.com/letters/growing.pdf
Written in 2003 from the best and probably most known investor of the world. He predicted already then what will happen with the dollar if you go on like this.
And the recession (which comes or you could touch), many people are talking about it, also abroad. My take is, that the fed takes the right steps (but this doesn't say, that you can safe yourself from a recession).
Thanks Nano! If you have some time you could ask about the medical side, what are we doing right now with BNC for example and the next steps we are doing in the medical field.
Thanks lockshed!
4. quarter financials released, see under
http://www.nanologixinc.com/includes/NNLX_Financials_Dec31_2007and2006.pdf
Bret, this lowering cost initiative was great, we saved about 1 million because of that. Congratulations!
I see we make progress and that's great.
Thanks Bret.
I just saw that it is a year old, so it isn't so interesting as I thought.
Listen to the conference call of nutra pharma of February 14, 2007, which you find here:
http://www.nutrapharma.com/investor_relations/
It's extremly interesting, also for nnlx.
They seem to begin running as they begin to sell our (!) kits, and you can think what this can mean for nnlx.
You can correct me, if I understood the conference call wrong.
Thanks parents! We have some talented people here, let's see what they can get done. It's nice to see Brets brother (at least I think he is Brets brother) coming, it shows trust in the company.
Not really. But perhaps you can hear more out of it than I.
There's a new interview, you can find it under
http://www.bournereport.com/radio.php, its the 16 March and begins at about 5 or 6 minutes.
I don't know, I wasn't and I can't remember that anyone has posted last year about it.
But you can check the old posts.
It's in Sacramento, CA.
You can find all informations about the event here:
http://www.hydrogenconference.org/
March 31, 02:00- 02:30 pm,
Biohydrogen and Electricity Production from Waste Water – William A. Hartman, C.O.O., NanoLogix, Inc.
See under
http://www.hydrogenexpo.com/exhib_forum_110308.pdf
I think the minimum payment was increased by 20%, not the 6% we get from the sale of the kits.
There's a new audio file on the website. eom
Marathon Capital Management increased it's holdings in nnlx again, they added 190'000 from 2'490'000 to 2'680'000.
http://www.sec.gov/Archives/edgar/data/1213206/000121320608000002/form13f1207.txt
Really nice news at the meeting.
Here are two links where nnlx will be presenting:
http://www.hydrogenconference.org/content.asp?whosComing
http://www.upcomingevents.ctc.com/2ndAnnualAltEnergyNOW_agenda.html
Thanks Swan for the update, thanks Bret for the audio file!
The question is if it really does lower the amount of dilution. Such news may anger long term investors and if they go out, the company will probably not benefit from it with a lower dilution.
If substantial news follow later (for the long term investors) I think it is acceptable, perhaps even positive.
I guess (and hope) Bret knows what he's doing.
But it's true, a lot of noise about very little. The value of this company did not change because of this news.