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Anyone like this here? I have 4k from 1.18... I think this will eventually turn and run big again..
Everything I look at with them is great except they screwed up the books and messed up earnings etc, so they will restate financials and get back on their feet. There are outstanding orders totaling over 1Billion for vehicles not to mention service from this company.
P/E is around 3 Market cap about 130 Mill here.
Conference call indicated at least 500 mill in revenue for 2008 alone. Undervalued?
Also participating in bid for their CHEETAH vehicle to replace all humvees as new JLTV!
Recently they received delisting notice, but so did NAVZ.pk and look at their share price (they do basically the same thing).
Just trying to think out loud and see what you guys think. Thanks.
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They have some lawsuits from shareholders who lost money from $33 or $44 a share I think if you check the news you should see it I was about to buy some at $2.44 then the news of the lawsuit hit right before I hit the place order button on etrade luckily I noticed
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Filing a shareholder class action lawsuit is routine. Winning a shareholder lawsuit is almost impossible. SEC and courts will not permit a shareholder lawsuit to proceed if the security in question (FRPT)is on the NASDAQ SHO list for the second time in less then 6 month and over 160 days in the last year! A company has no control if their securities are being used in a unintended manner. Naked shorts are not all illegal. But their effect on a security is a defense for lost shareholder value.
In addition, FRPT and their products may have been adversely affected by unlawful procurement practices. That is easy to document with a Senate investigation underway by Joe Biden and Ted Keneddy. People are under witness protection and a key figure in the events was recently removed from their position.
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OUTSTANDING ORDERS yet to be paid to FRPT---> WOW!
3/14/2008 - Force Protection Industries, Incorporated $9,849,420 US NAVY
3/14/2008 - Force Protection Industries, Buffalo $7,690,529
02/20/08 Force Protection Announces New Foreign Orders for Cougar Mastiff Receives $115 million order for UK Ministry of Defense.
02/20/08 Force Protection Announces Order for Italian Ministry of Defense Manufacturer receives $8 million order for Cougar and Buffalo vehicles.
01/17/2008 Force Protection, Inc. (NASDAQ:FRPT) today announced that it has received through its wholly owned subsidiary, Force Protection Industries, Inc., a $74,130,482 million contract for integrated logistics support (ILS).
Force Dynamics, LLC Breaks Production Records in December 01/02/2008 Force Protection, Inc. (NASDAQ: FRPT) and General Dynamics Land Systems (NYSE: GD) � through their joint venture Force Dynamics, LLC � today announced that they continued to break monthly vehicle production records in December.
Force Protection Awarded $379 Million MRAP Contract, Additional Sales Orders to Follow 12/19/2007 Force Protection, Inc. (NASDAQ:FRPT) today announced it has received a delivery order for an additional 358 Mine Resistant Ambush Protected (MRAP) Category I and Category II vehicles. The total approximate value of the order is $379 million.
Force Dynamics, LLC Breaks Production Records in November 12/03/2007 Force Protection, Inc. (NASDAQ: FRPT) and General Dynamics Land Systems (NYSE: GD) � through their joint venture Force Dynamics, LLC � today announced that in November they once again broke monthly vehicle production records.
Force Protection Opens New Facility in North Carolina 11/30/2007 Force Protection, Inc. (NASDAQ:FRPT) today celebrated the dedication of its new manufacturing facility in Roxboro, North Carolina for production of the Company�s Cheetah vehicle.
Force Protection Reports Record Third Quarter and Nine Month 2007 Financial Results 11/14/2007 Force Protection, Inc. (NASDAQ: FRPT) today announced results for its third quarter and nine months ended September 30, 2007.
Force Protection Reports To Congress On Vehicle Performance, MRAP Production Ramp Up 11/09/2007 Force Protection CEO testifies before Congress on the performance and production of the company's Cougar and Buffalo vehicles.
U.S. Army Awards Force Protection $22 Million Contract For Additional Buffalo Vehicles 11/08/2007 Force Protection, Inc. today announced a contract from the U.S. Army�s Tank Automotive and Armaments Command (TACOM) for an additional 29 Buffalo mine-protected vehicles.
U.S. Marine Corps Awards Force Protection $91 Million for Field Service and Training Support 11/05/2007 Force Protection Inc. today announced a contract from the U.S. Marine Corps for support of the Mine Resistant Ambush Protected (MRAP) Vehicles University, integrated logistics support, and field service representative support.
Force Dynamics, LLC Breaks Production Records in October 11/02/2007 Force Protection, Inc. and General Dynamics Lands Systems � through their joint venture Force Dynamics, LLC � today announced they broke vehicle production records in October.
Force Protection, Inc. Awarded Additional ILAV Vehicle Contract 10/08/2007 Leading armored vehicle manufacturer Force Protection, Inc. (NASDAQ:FRPT) today announced that it has received a purchase order from BAE Systems for an additional 45 Iraq Light Armored Vehicles (ILAV).
U.S. Marine Corps Awards Force Protection $376 Million MRAP Contract 10/22/2007 Force Protection receives $376 million dollar contract for 800 MRAP vehicles.
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check out info above i've found on these guys. this thing is SO undervalued its disgusting. especially when it was under 2, but it still is though and people are realizing. naturally the shorts realize they must cover at some point and are choosing too now---I hope its in anticipation of higher pps coming soon, aka good news.
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10:54AM Force Protection confirms Congress receives notification of pending UK contract for Force Protection's Cougar Vehicles (FRPT) 2.84 +0.31 : Co confirms that the Defense Security Cooperation Agency has notified Congress of a pending Foreign Military Sale to the United Kingdom for 157 of the company's Cougar Category I Mine Resistant Ambush Protected vehicles and associated equipment and services. The total value of the contract, if all options are exercised, will be approximately $125 mln. This pending sale is not subject to the terms of Force Protection's joint venture.
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funs not over! check out DD, this stock is worth way more then current PPS!! still outstanding naked short positions on top of all this!
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Force Protection (Nasdaq: FRPT) 4/10/08 Outperform ***
Pride International 4/10/08 Outperform *****
Data from CAPS. Maybe not all of these picks will pan out, but each one is a good place to start further research. I decided to take a look at Force Protection.
From rags to riches and back The story of Force Protection is tabloid material if I've ever seen it. Just back in January of 2007, the stock rose from the obscurity of the pink sheets to the far more prestigious Nasdaq. At the time, the company was leading the charge in outfitting vehicles for the military that could withstand the roadside explosives that have been so devastating in the Iraq war.
With its business success and shiny new Nasdaq listing came a tremendous run for the stock. Between early 2006 and mid-2007, the stock rose a jaw-dropping 3,000% as orders for vehicles rolled in and the company started turning a profit.
Alas, it wasn't to last. Competitors like Ceradyne and General Dynamics (NYSE: GD), with their eyes on fat defense contracts, soon began to give Force Protection a run for its money with competing products. And as if that weren't enough, the company stacked accounting problems and a fleeing management team on top of that.
Today, Force Protection is a shadow of what it was at its peak. It's behind on its financial reporting and receiving delisting notices. It's a pincushion for shareholder lawsuits. And it's trading at a mere $3 per share. Sure, its forward P/E multiple may be listed at under five, but it's clear that most investors are highly doubtful that it will be able to post the $0.72 that analysts expect in 2008.
But many investors on CAPS are looking past all of this. One such investor is costanostra, who gave Force Protection's stock the nod last week. He thinks the market has overblown the situation with management:
Force Protection has come under flack recently (no pun intended) due to some issues with management and various class action lawsuits. They've been criticized in the U.S. but it seems that overseas they are doing well. I would like to see some more contracts from this joint venture in the United Kingdom and possibly in China as they increase military spending. There will be strong demand for armored combat vehicles for years to come. I think management has an opportunity to turn this stock around.
So, what's your take on Force Protection? Get in the action by clicking over to CAPS. CAPS is absolutely free and already has over 96,000 stock pickers chipping in to find the best stocks out there.
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good summary of what to expect in near future with restatement etc... (stole this from yahoo board)
Force Protection 45 days .. unreported
$9 and 7M Marine order $115 Million dollar sales to England and Italy $74 Million dollar sale to Marines New Chairman - CEO- CFO and COO Remains a prime takeover target. Restatement to report Q123 - 2007 Delays Q4 07 - this is where the money is Over $1 billion in trailing revenue Featured MRAP in NY Times article Featured twice in USA Today Gets the US Sentate and Marines to investigate manipulation of MRAP sales. Gets official notice from the DOD that there will be no cuts in future orders. Delivers over 400 units from prior orders Fidelity ups stake to 17%
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