Bbotcs - UUU - More info:
Maybe things did go well for them at the trade show. I hope so, because I'm long the stock.
I just dug up some interesting info from a 13D/A filed on May 20. Michael Kovens is the former Chairman and CEO of UUU. He owns about 20 percent of the stock. He's been in a legal battle with management for quite awhile. Anyway, here's the excerpt from the 13D/A:
"On April 11, 2005, Mr. Kovens nominated himself as a candidate for the Board of Directors of the Company and was informed by the Company on April 15, 2005 that his nomination was accepted. Mr. Kovens is seeking board representation to protect his significant investment in the Company. Mr. Kovens is seeking board representation because he believes that the Company is too small to remain as an independent company and that the Board should immediately retain an investment banker to review ways to maximize shareholder value. The review includes conducting a comprehensive review and analysis of the value that could be achieved by remaining an independent company versus the Company's value from a possible business combination in which the Company may be either the acquiror or the seller. Mr. Kovens believes that the only way he can be assured that his proposal receives appropriate consideration is through board representation. Except as previously noted in this Schedule 13D, the Reporting Person does not have any other plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of Item (4) of Schedule 13D. The Reporting Person may, however, at any time and from time to time, review or reconsider his position and formulate plans or proposals with respect thereto."
Many huge winners will be found here among the micro-caps. You probably have one in your portfolio right now. There will be many seemingly good reasons to sell it too early.......
AI
