Seeking Alpha

Charles Moscoe

 
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  • Audience Trading At Cash Value [View article]
    Thanks Ashraf. I was within a few cents of the bottom. Like commodities when beaten down (natural gas is a good recent example), stocks generally wont trade at or near cash value for too long before rebounding sharply.
    Nov 8 05:45 PM | 1 Like Like |Link to Comment
  • Audience Trading At Cash Value [View article]
    The GeoTeam is 'short', so he is getting murdered here. I cashed a nice gain and have no regrets selling ahead of today's big move. The reason I sold has more to do with the fact that I get zero margin off of ADNC then anything else. As mentioned, I like the story but I also wouldn't put a retest of the lows out of picture. At that point I may reload.
    Oct 31 09:33 PM | Likes Like |Link to Comment
  • Audience Trading At Cash Value [View article]
    I cashed a 25% gain on this stock. It could rise again, but the risk/reward is now more balanced and not as compelling on the long side. The easy money has been made. I may re-enter if it retests the cash levels of $5.50s. Take that for what its worth as I'm always out too early but like to cash gains and move on (this time to SKUL as I wrote about a couple times). I wouldn't be surprised to see this rise up even higher but its riskier now for sure at these levels.
    Oct 28 10:08 AM | Likes Like |Link to Comment
  • Audience Trading At Cash Value [View article]
    So much for your $1.95 to $5.50 range. That is gone forever...

    More fairly valued around $7-$10.
    Oct 25 11:07 PM | Likes Like |Link to Comment
  • Audience Trading At Cash Value [View article]
    Looks pretty good. I wonder how high it will go? Its such a low volume play that it could spike big tomorrow. I would still cash some gains as the easy money has been made.
    Oct 25 09:49 PM | Likes Like |Link to Comment
  • Audience Trading At Cash Value [View article]
    Good points. I agree with them all. I have also been reading various iphone 5 reviews regarding the new noise suppressors and they have been mixed. It will be interesting to see how this new ES515 chip performs and how it is adopted. I think Apple will also see a steady market share erosion over time. Clearly Samsung makes better products and its only a matter of time that they hype will wear off Apple. They make good phones, but nothing to warrant their insane popularity.
    Oct 5 11:57 AM | Likes Like |Link to Comment
  • Audience Trading At Cash Value [View article]
    Those class action suits are frivolous. Every company has a bunch of them and they always go nowhere. That is irrelevant.
    Oct 3 10:59 PM | 1 Like Like |Link to Comment
  • Audience Trading At Cash Value [View article]
    That is completely unsubstantiated and shows a real lack of understanding about this company and current litigation. There is nothing even remotely material going on with lawyers, and business outside Apple is booming.
    Oct 3 03:41 PM | 1 Like Like |Link to Comment
  • Audience Trading At Cash Value [View article]
    Are you saying that there is no outstanding patent litigation against Audience?

    I've seen mention of the litigation in the 10-Q and as you stated they are with very very small entities (one is an individual person, not even a company), so they don't appear to hold much merit against Audience, but I wasn't aware that they were dropped?

    Its very difficult or impossible for a small entity to fight a company like Audience all the way. Mostly these trolls go for a quick settlement and when rebuffed, back off. Sounds like thats what happened here.

    The short argument the first commenter made is based on these frivolous patent claims, so thats interesting if indeed they no longer exist.
    Oct 3 10:03 AM | 1 Like Like |Link to Comment
  • Audience Trading At Cash Value [View article]
    I think management is doing what they can in the face of a devastating contract loss. Keep in mind, given an opportunity to 'cash out' on the IPO they barely sold anything, so they believe in this product. This was a great short from $20, with the dependence upon Apple, and they got blindsided and its cost them a lot, but I think with a 75% haircut, the damage has been done. Companies don't trade below cash value for too long, especially ones with positive cash flow in a sector that is still rapidly growing.
    Oct 3 09:59 AM | 1 Like Like |Link to Comment
  • Audience Trading At Cash Value [View article]
    Hello Geo, I will answer your points one by one here:

    1. When you calculate PE, you need to back out CASH. The company is trading at a forward PE of less than 1. There is no evidence of any cash burn and they are still cash flow positive. Revenues will be less until they catch their stride again but they are profitable.

    2. Apple has been vertically integrating all components. This is nothing new. As I pointed out in the article, this has happened before with other companies and will happen again. Audience already has new technology that they are testing.

    3 and 4. No evidence that cash flow is diminishing or that the lawsuit is anything more than a patent troll (and it is targeted at Apple rather than Audience).

    5. Completely false.
    Oct 3 09:13 AM | 1 Like Like |Link to Comment
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