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  • Rainmaker Entertainment - Feature Film Expenses Mask Profitability Of For-Hire Business [View article]
    This interview (http://tinyurl.com/qee...) with Blockade Entertainment's Foxhoven (the co-producer with Rainmaker on their feature films) mentions that they are working on two other feature films other than Sly Cooper and Ratchet & Clank that have yet to be announced.
    Aug 31, 2015. 03:53 PM | 1 Like Like |Link to Comment
  • BioSyent: A High Growth Niche Pharma Company With Some Catalysts For Sustainable Performance [View article]
    Lildimsum,

    Currently the company derives a majority of their sales from one product, which has yet to scratch the surface in foreign markets (India and Asia have large anemic populations). They have a number of products making their way through the pipeline and opportunities shall be available with cash on hand. Foreign sales are lumpy and only contributed minimally in Q1 which dampened the Qs results while some products are taking a little longer to gain momentum.

    So if you believe management can replicate the success of FeraMax with multiple products, then the growth should continue at high rates even though the focus is on small niche products. Eventually they will hit law of large numbers, but I think that won't be for a while.
    Jul 19, 2015. 07:59 PM | Likes Like |Link to Comment
  • Xpel Technologies: Compounder's Risk/Reward Significantly Better Than Last Year [View article]
    V Investor,

    No such thing as a stupid question.

    There currently is a lot of competition in the paint protection film space and has been for years. New films keep coming into the market that are getting better in quality and Xpel is not the cheapest option. What Xpel provides is more than a large database or good film, they also help drive business for installers. There aren't many film businesses that help installers create relationships with dealerships in their area and actively market these installers in their social media or events.

    Xpel thus has been creating mindshare in installers and dealers that their overall service is much more valuable than just a cheaper film. It also makes it much harder to replicate such a model from scratch and compete with an Xpel.
    Jul 11, 2015. 09:24 AM | 2 Likes Like |Link to Comment
  • Xpel Technologies: Compounder's Risk/Reward Significantly Better Than Last Year [View article]
    Xpel will be sponsoring, showing their window tint (which has yet to be officially announced yet) and their paint protection film at the Window Film Conference and Tint-Off at the end of September.

    http://bit.ly/1D10uXU
    Jul 8, 2015. 11:40 AM | 1 Like Like |Link to Comment
  • Xpel Technologies: Compounder's Risk/Reward Significantly Better Than Last Year [View article]
    Groningentrading,

    ~50% insider owned with CEO owning ~6% of shares. Almost zero insider selling as company has grown significant share value since turnaround. Also, CEO takes home much less in salary + bonus compared to shareholding in the company.

    The company has one of the cleanest share structures: 25.7MM shares outstanding and zero options/warrants.

    Balance sheet is very strong with only minimal amounts of debt for Parasol acquisition and some of that is 0% vendor debt.
    Jul 6, 2015. 10:26 AM | 4 Likes Like |Link to Comment
  • Parkit Enterprise: JV Catalyst Achieved, Market Missing Forest For Trees [View article]
    Q2 out

    http://tinyurl.com/o25...
    Jun 30, 2015. 03:47 PM | Likes Like |Link to Comment
  • Rainmaker Entertainment - Undiscovered Animation Studio With Large Value Dislocation [View article]
    Ratchet & Clank game footage revealed in trailer. Also some new clips from the movie in there as well.

    http://bit.ly/1IHkmqj
    Jun 10, 2015. 08:46 PM | Likes Like |Link to Comment
  • Update: Winmark Leasing Portfolio Growing, And Share Repurchases Continue To Indicate Shares Are Undervalued [View article]
    Mingran,

    I agree that in general the leasing business is cyclical in nature depending on the overall economic trends of the locales with which Winmark goes after. The question is which industries are Winmark really going after. Winmark's overall penetration of leasing marketing is extremely small and the market is highly fragmented so it might be good to get a better idea how the company is going after increasing market share which would necessitate a conversation with the CEO. If you're able to get ahold of him would be good to hear your insights.
    May 28, 2015. 12:24 PM | Likes Like |Link to Comment
  • Rainmaker Entertainment - Undiscovered Animation Studio With Large Value Dislocation [View article]
    Q1 results

    http://yhoo.it/1PLzqqI
    May 26, 2015. 07:07 PM | Likes Like |Link to Comment
  • Parkit Enterprise: JV Catalyst Achieved, Market Missing Forest For Trees [View article]
    New Parkit Presentation: http://bit.ly/1PKhT2i
    May 26, 2015. 09:43 AM | 1 Like Like |Link to Comment
  • Parkit Enterprise: JV Catalyst Achieved, Market Missing Forest For Trees [View article]
    They can also raise rates. Here is the official Propark site that states a higher $12 max daily rate - $140 monthly - for one car @ Riccio lot. http://bit.ly/1LtCrWE

    Not exactly certain of the daily rev per spot, monthlies or occupancy rates but I'm guessing the overall mix leads to higher than one car daily max rate due to turnover of hourlies. 2 hours will set a person back $8 and getting two 2 hourers in one spot back to back would put rev per spot at $16. Also, hourly rate is $8 anytime after 3pm. Theoretically, a spot could get over $24 a day in non-discount. The discount monthly spots would weigh that down. All in all, IMO the right price structure and mix plus higher price and potential for more spots is a recipe for enhancing NOI.
    May 22, 2015. 01:24 PM | Likes Like |Link to Comment
  • Parkit Enterprise: JV Catalyst Achieved, Market Missing Forest For Trees [View article]
    Willhand,

    Thanks for the Qs.

    I gave the value of the closed portfolio a higher intrinsic value than what was ultimately vended since those assets sold to a separate party would likely achieve a much higher price something closer to $100MM. Again the bulk, Canopy and Expresso, were likely vended in at a price well below market to secure decent terms on asset management fees, etc,. Ex: Canopy @$38MM is much lower than the appraised valuation of a year ago even though NOI grew significantly since. Expresso was vended at cost and was originally sold at low price pretty much as a favor to Propark from old owner (didn't shop the property due to trusting Propark over other potential buyers).

    You are correct it is a bet on Propark/Parkit management's ability to optimize and sell assets for a high price. I feel comfortable that the already embedded relationship between Och-Ziff and potential institutions who would be willing to pay up for quality portfolios - and Och-Ziff is properly incented - lowers the hurdles to properly execute on the strategy and sell at lower cap rates. Even with lower IRRs of 15% and slightly higher selling caps, the current valuation is still lower. I'm more inclined to give the benefit of doubt to Och-Ziff and that they've done enough due diligence on Parkit/ProPark management to make sure that their equity investment has a greater likelihood of achieving >20% IRR.

    What my understanding of the strategy is is that acquired lots will require investment to squeeze more optimization out of them. Your math looks correct if the lot was to maintain its current form for 4 years but it doesn't take into account expanding available parking spaces through better layout and/or physical expansion. Ex: Expresso was previously owned by a wealthy heiress not focused on profits and was unwilling to invest to optimize the property. Propark/Parkit are now willing to invest the necessary capital to expand total car spots, marketing, tech, etc,.
    May 21, 2015. 06:39 PM | 1 Like Like |Link to Comment
  • Rainmaker Entertainment - Undiscovered Animation Studio With Large Value Dislocation [View article]
    Ratchet and Clank film release date of April 29, 2016 and announcement of NA distributor Focus Features. A bit delayed as the cash flows move from my estimated year end 2015 to 2nd half 2016. Guess RNK for hire service business are doing well to support company in mean-time and gives much more time to market and polish the tie-in PS4 game.

    http://bit.ly/1JK1VOt
    May 14, 2015. 06:57 AM | Likes Like |Link to Comment
  • Rainmaker Entertainment - Undiscovered Animation Studio With Large Value Dislocation [View article]
    Full voice cast for the Ratchet & Clank film has been released.

    http://bit.ly/1e1IZAZ
    May 13, 2015. 01:27 PM | Likes Like |Link to Comment
  • Rainmaker Entertainment - Undiscovered Animation Studio With Large Value Dislocation [View article]
    Jason,

    Don't know if you noticed but the recent annual filing noted that they officially own 63% of Ratchet and Clank film. Not a significant difference in my model above.
    May 12, 2015. 06:37 PM | Likes Like |Link to Comment
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