A Generational Buying Opportunity In Gastar Exploration [View article]
They stated in the Q2 Analyst Call, that "the next redetermination of our borrowing base [BB] is scheduled for early fourth quarter" and it will be modest. A more significant growth in the BB will come the next year. In March 2012 the BB was increased to $100 million from $50.
The credit facility is their cheapest form of financing, with a rate less than 4%, while for the preferred stock there is a monthly cash dividend of 8.625%
For the current year there are no liquidity issues, the key is their CAPEX financing for 2013.
L & L Energy, Inc., A Deeply Undervalued Company [View instapost]
Why were my questions removed?
You'd even already replied in your first comment. This fact let me doubt about your good faith, I hope it was just an oversight.
I post them again also because I'm only partially satisfied with your answers:
From the last 8-K about the sale of the Ping Yi mine: "The sale terms include, among others, a US $31 million sale price, treated in part as a prepayment by L&L on future coal purchased by L&L, and in part as a prepayment by L&L for the future use of the mine's coal washing facility. L&L purchased the mine in 2009 for approximately US $4 million."
Correct me, if I'm wrong: 1) L&L sold the mine back for $31M but the buyer didn't give L&L a cent because he retained the $31M as prepayment for future products (coal) and services (washing)? 2) The mine was closed for a period, because of some accidents in the region the government enforced the regulations for safety but despite those facts L&L could sell back to the original owners for a price almost 8 times higher ($31M to $4M) only 4 four year later?
The 3-D Printing Revolution Is Underway - 2 Companies With Dominant Market Share, Rapid Growth Potential [View article]
"Since the stock's IPO in February" - Andrew, that is an imprecision that you should correct in the article.
On February ONVO has gone public through a reverse merger (RTO). There is a huge difference between and IPO and RTO in terms of transparency, credibility and controls.
Even if ONVO is animated by the best intentions, their technology is still so futuristic and experimental that it can requires decades before to implement it successfully and even more time to monetize it.
With 421M Market Cap (as I'm writing) but only 120K Revenues, 11M Assets and 49M Liabilities (as of Mar 30, 2012), ONVO is at the moment very overvalued!
Gastar Exploration: Taking Unconventional Profits From Chesapeake [View article]
Yes, I confirm that in the first quarter of 2012 the production exceeded expectations:
* Production: Actual: 29.4 MMcfe per day, Last guidance: 27 – 29 MMcfe per day
* Liquids percentage of production: Actual: ~16%, Last guidance: 12% to 15%
But the cash flow by operations before working capital changes decreased from $4.5M to $2.9 compared to the first quarter of 2011.
Anyway they state to have enough cash for their E&P activities: "We plan on funding this capital activity through existing cash balances, internally generated cash flow from operations, borrowings under the Revolving Credit Facility and possible future at-the-market issuances of Gastar USA Series A Preferred Stock, subject to market and other conditions."
Another reason for the decline could be the recent PT cuts did by two analysts: * May 11, 2012: Pritchard Capital Partners lowers PT from $6 to $5 * Apr 23, 2012: Caris & Co cuts Gastar Exploration Ltd price target to $3 from $4
Those cuts together with the missed EPS consensus could have strongly negative influenced many retail investors.
Gastar Exploration: Taking Unconventional Profits From Chesapeake [View article]
Right, we will see in the filings soon if Chesapeake's aggressively selling was the reason of the recent GST price decline.
I think, that could be explained by another fact: the EPS analysts' consensus for the last quarter was -$0.3, while GST reported -$0.10 or -$0.06 removing extraordinary issues.
Don't Worry, There Is No Fraud Here [View article]
Switching from HBM to KPMG is a good signal. If ZAGG has did the opposite (switching from a big to a small auditor), that has been a red flag. Let us KPMG work! ;-)
Why Is Gladstone Commercial So Cheap? [View article]
True ;-) Then given $0.37 as dividend for the last quarter ($1.50/4), the correct payout ratio is 97%.
I've seen the calculation done below by "eugeneauh". Taking the Adjusted FFO per Share ($0.33) it results that the AFFO/share is even less than the quarterly dividend.
I agree with you that the Dividend Yield makes GOOD very attractive, but the question it, how long is this divergence in the middle/long term sustainable.
Does anybody know how many quarter is this situation lasting?
Why Is Gladstone Commercial So Cheap? [View article]
You're right, the data from advfn.com are wrong for a REIT.
I recalculated the Dividend Payout Ratio using the FFO per share (=$0.38) and, given a Dividend per share of $1.50, the new value is 394%... not "stellar" but quite hight, isn't it?
What is the average Dividend Payout Ratio for a REIT?
Why Is Gladstone Commercial So Cheap? [View article]
Given their "stellar" Dividend Payout Ratio (> 1000%) how could it be possible that they will raise the dividend further (as stated by the CEO)? On the contrary, given that the FFO barely covers dividends, isn't more probable, that they will be forced to reduce it?
Don't Worry, There Is No Fraud Here [View article]
To say the truth, they publically replied to this question in their "ADDENDUM TO ZAGG" on May, 7: "Another asks, “Is Pardini one of your former students you felt compelled to support?” No, he isn’t, and neither of us knows him."
Analyzing Friday's Noteworthy Insider Trades In Healthcare And Tech Sectors [View article]
Yes, LifeVantage sells his products though Multilevel Marketing (MLM) since 2009. When I heard the word MLM, I'm automatically sceptical about a company.
The last one was a Record Quarter, but in their history they never generate Free Cash Flow.
Jason Garrett-Glaser - the x264 Lead Developer - confirmed once again that RAYS is not a legittimate company and that CoreCodec does not intend license anything to Raystream.
A Generational Buying Opportunity In Gastar Exploration [View article]
A more significant growth in the BB will come the next year.
In March 2012 the BB was increased to $100 million from $50.
The credit facility is their cheapest form of financing, with a rate less than 4%, while for the preferred stock there is a monthly cash dividend of 8.625%
For the current year there are no liquidity issues, the key is their CAPEX financing for 2013.
A Generational Buying Opportunity In Gastar Exploration [View article]
After the recent price collapse due to the CHK lawsuit are you buying
(or considering to buy) more shares?
is Gastar still one of the biggest positions in your portfolio?
Thanks
A Generational Buying Opportunity In Gastar Exploration [View article]
If the lawsuit is baseless, then GST shares are now even more attractive (last P/B ratio = 0.62) .
Lifevantage, The Best Of Both Worlds: A Growth And Value Stock [View article]
Thanks!
L & L Energy, Inc., A Deeply Undervalued Company [View instapost]
You'd even already replied in your first comment. This fact let me doubt about your good faith, I hope it was just an oversight.
I post them again also because I'm only partially satisfied with your answers:
From the last 8-K about the sale of the Ping Yi mine:
"The sale terms include, among others, a US $31 million sale price, treated in part as a prepayment by L&L on future coal purchased by L&L, and in part as a prepayment by L&L for the future use of the mine's coal washing facility. L&L purchased the mine in 2009 for approximately US $4 million."
Correct me, if I'm wrong:
1) L&L sold the mine back for $31M but the buyer didn't give L&L a cent because he retained the $31M as prepayment for future products (coal) and services (washing)?
2) The mine was closed for a period, because of some accidents in the region the government enforced the regulations for safety but despite those facts L&L could sell back to the original owners for a price almost 8 times higher ($31M to $4M) only 4 four year later?
The 3-D Printing Revolution Is Underway - 2 Companies With Dominant Market Share, Rapid Growth Potential [View article]
Andrew, that is an imprecision that you should correct in the article.
On February ONVO has gone public through a reverse merger (RTO). There is a huge difference between and IPO and RTO in terms of transparency, credibility and controls.
Even if ONVO is animated by the best intentions, their technology is still so futuristic and experimental that it can requires decades before to implement it successfully and even more time to monetize it.
With 421M Market Cap (as I'm writing) but only 120K Revenues, 11M Assets and 49M Liabilities (as of Mar 30, 2012), ONVO is at the moment very overvalued!
Gastar Exploration: Taking Unconventional Profits From Chesapeake [View article]
* Production:
Actual: 29.4 MMcfe per day, Last guidance: 27 – 29 MMcfe per day
* Liquids percentage of production:
Actual: ~16%, Last guidance: 12% to 15%
But the cash flow by operations before working capital changes decreased from $4.5M to $2.9 compared to the first quarter of 2011.
Anyway they state to have enough cash for their E&P activities:
"We plan on funding this capital activity through existing cash balances, internally generated cash flow from operations, borrowings under the Revolving Credit Facility and possible future at-the-market issuances of Gastar USA Series A Preferred Stock, subject to market and other conditions."
Another reason for the decline could be the recent PT cuts did by two analysts:
* May 11, 2012: Pritchard Capital Partners lowers PT from $6 to $5
* Apr 23, 2012: Caris & Co cuts Gastar Exploration Ltd price target to $3 from $4
Those cuts together with the missed EPS consensus could have strongly negative influenced many retail investors.
Gastar Exploration: Taking Unconventional Profits From Chesapeake [View article]
I think, that could be explained by another fact: the EPS analysts' consensus for the last quarter was -$0.3, while GST reported -$0.10 or -$0.06 removing extraordinary issues.
Don't Worry, There Is No Fraud Here [View article]
Why Is Gladstone Commercial So Cheap? [View article]
I've seen the calculation done below by "eugeneauh". Taking the Adjusted FFO per Share ($0.33) it results that the AFFO/share is even less than the quarterly dividend.
I agree with you that the Dividend Yield makes GOOD very attractive, but the question it, how long is this divergence in the middle/long term sustainable.
Does anybody know how many quarter is this situation lasting?
Why Is Gladstone Commercial So Cheap? [View article]
I recalculated the Dividend Payout Ratio using the FFO per share (=$0.38) and, given a Dividend per share of $1.50, the new value is 394%... not "stellar" but quite hight, isn't it?
What is the average Dividend Payout Ratio for a REIT?
Why Is Gladstone Commercial So Cheap? [View article]
Don't Worry, There Is No Fraud Here [View article]
Analyzing Friday's Noteworthy Insider Trades In Healthcare And Tech Sectors [View article]
The last one was a Record Quarter, but in their history they never generate Free Cash Flow.
RAYS Of Sunshine, Or Clouds Of Doom? [View article]
Raystream (RAYS): Trying to Market Essentially Free Technology?
http://seekingalpha.co...
In this recent iHub posts:
http://bit.ly/ySh7WZ
http://bit.ly/wX7U4m
Jason Garrett-Glaser - the x264 Lead Developer - confirmed once again that RAYS is not a legittimate company and that CoreCodec does not intend license anything to Raystream.