Optex Systems Holdings Inc. (OPXS)

[littlefish]

Agreed, the track record of Viking mngmnt is a thing of travesty. Glad Schoening et al were able to free themselves of Hirschmann/Longview debt ties and potential death by dilution with Hirschman pledged shares. The debt payoff deal in June was a major ray of light for the battered common shares holders.

You've done a good job here but it is time to accept the company as viable finally. The puttable warrants for cash would be a drag on a potential takeover given the terms (puttable upon a fundamental transaction, spelled out more clearly on the S1/A filed in Aug 2016) but I'm not investing in this on a chance takeover.

Their skies are finally clearing after brutal years of funding starvation in their niche markets. Some competition never made it thru. The Applied Optics purchase was also very well timed looking back now (wouldn't have said that a year ago).

They will start showing good cashflow moving forward in my opinion (debt paid down, low CapEx generally, ARs good collectibility, lowish inventory levels). Still need to see where earnings and backlog come in once the annual report comes out this month.

They are showing signs of life both on the govt military side and the commercial/retail side. That should become more evident soon IMO. Wish I could have built a bigger position around $0.9 area ahead of the annual but a little buying came in last few days.

Good luck, all IMO only.