Seeking Alpha

sandyw45

sandyw45
Send Message
View as an RSS Feed
View sandyw45's Comments BY TICKER:
Latest  |  Highest rated
  • Will CAMAC Energy's Bears Continue Laughing All The Way To The Bank? [View article]
    VD- one glaring error in your report implies you did not read the 10Q filed in May of this year. CAK clearly stated that they had closed on the second traunch of $135mm prior to the 7000 b/d original requirement changing the need for additional short term cash.
    Nov 1, 2014. 07:59 AM | 1 Like Like |Link to Comment
  • 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, 2014. 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, 2014. 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, 2014. 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, 2014. 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, 2014. 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, 2013. 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, 2013. 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, 2012. 09:55 PM | 1 Like Like |Link to Comment
COMMENTS STATS
8 Comments
13 Likes