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sandyw45

sandyw45
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  • Camac Energy: Why The Short Side Won't Win [View article]
    MTF I am also long CAK. If I'm reading you right, I think you failed to point out that the short of 1000 shares converts to a short of 2435 post distrobution thereby actually creating a loss @ .71.
    Jan 9 09:25 AM | Likes Like |Link to Comment
  • CAMAC Energy's Gross Overvaluation Is A Gift From Santa Claus To All Short Sellers For 2014 [View article]
    VD yes it is debt, but you failed to add the cash to the balance sheet they will receive for the debt.
    Jan 5 01:54 AM | 1 Like Like |Link to Comment
  • CAMAC Energy's Gross Overvaluation Is A Gift From Santa Claus To All Short Sellers For 2014 [View article]
    VD,
    Once again I reread the portion on net debit and stand by my original comment:

    "CAMAC had zero long-term debt and $435,000 cash as of September 2013. According to the two transactions mentioned above:

    1) CAMAC issued a $50 million convertible subordinated note.

    2) CAMAC offered up to $300 million in aggregate principal amount of senior notes due in 2018.

    3) CAMAC received $270 million from PIC but paid $170 million to Allied. Thus, CAMAC's remaining cash is $100 million currently.

    After all, let's sum it up at the table below:

    Total Long-Term Debt

    $350 million (300 + 50)

    Cash

    $100 million

    Net Debt

    $250 million

    So CAMAC currently has net debt of $250 million, assuming the senior notes offering closes successfully."

    The $300 cash received from the bond offering must be added back to the balance sheet thereby leaving CAK with a surplus of cash versus the debit.
    Jan 5 01:28 AM | 2 Likes Like |Link to Comment
  • CAMAC Energy's Gross Overvaluation Is A Gift From Santa Claus To All Short Sellers For 2014 [View article]
    Oh and one other minor miscalculation, you failed to include the $300 million cash received from the bond offering on the balance sheet. won't that boost your valuations by about .24? or to current share holders ( .24 x 2.435) about .58?
    Jan 3 01:11 PM | 1 Like Like |Link to Comment
  • CAMAC Energy's Gross Overvaluation Is A Gift From Santa Claus To All Short Sellers For 2014 [View article]
    Better go back and check your math. As you correctly pointed out, current share holders will receive a stock dividend of 1.435 shares. Therefore your evaluations of .66 or .76 per share equates to a price today of 1.60 to 1.85 (.66x 2.435 or .76x 2.435) for public shareholders pre ex-date.
    Jan 3 11:45 AM | 5 Likes Like |Link to Comment
  • FAB Universal - Fabulous Not So Much. [View article]
    You did (conveniently)
    fail to mention the insider PURCHASES by Mr Rogers!
    Sep 26 03:14 PM | 2 Likes Like |Link to Comment
  • Why I Added To Document Security Systems Recently [View article]
    Will you please repost the pdf link in your last paragraph? It indicates "file not found". Thanks
    May 20 12:11 PM | Likes Like |Link to Comment
  • Document Security Systems Has Significant Patent Monetization Plans [View article]
    I like your analysis on DSS, however some facts surrounding VHC and VRNG are somewhat confused. VHC ran up based on a settlement (1 time license) with MSFT and VRNG was the company with the disappointing GOOG award. In fact, the large award against AAPL can still be enhanced!
    Nov 23 09:55 PM | 1 Like Like |Link to Comment
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7 Comments
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