posted
I don't know how anyone can sell at this price, without losing or just wanting to get out.
Posts: 4245 | From: SMALLVILLE USA | Registered: May 2004
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quote:Originally posted by daytrader1: purl... i might be childish but i would definitely not be liked called upon anyways heres what i dont like in your post
"Readers are again cautioned there are problems with this company.
Share price over the past few weeks has fallen from roughly 1.30 per to roughly .50 share indicating devaluation through trader perception."
why do you assume readers dont know that share has maved that way? do you think people who put their money are dumb a$%^$ that they dont go to barcharts or something to find out and read chart high/lows etc. before putting their hard earned money into any stock? if that is your assumption,. then let me inform you that people who play stocks are much smarter than what you assume them to be.
"May 24: "337,865,401 shares...as of March 31, 2006."
May 25: "38,254,263...are registered free trading."
Roughly three-hundred-million common shares are not accounted for. These are shares presumably in public hands; outstanding common."
this has been beaten to in this thread and many others all over the boards in internet. so, your caution is unwarranted and anyone who is following this stock and radaring it to put his/her money into is well aware of this fact and knows that this is taken care of. so dont try to show your boo boo tactics on this matter..
"Goodwill 4 762 020"
This Goodwill is carried over into the merged company. This Goodwill has been carried on the books for years. This represents the value of an empty shell, Bio-Tracking Securities. This company does not exist nor are there any lingering intangible nor tangible assets. Per SEC Section 142, impairment testing reduces this Goodwill to zero. Financial assets are overstated by roughly five-milllion dollars.
that SEC will take care of if they have overstated. you have not seen or estimated the assets neither have I. so it is weather you beleive in the PR or you dont. this stuff can be overstated anywhere, just go and read WSJ today as to what happened to enron execs.
"PR News indicates a merged net worth of 1.2 billion dollars.
Merger news indicates, "...$116 Million in assets...."
Assets reported are roughly one-tenth of the 1.2 billion value previously claimed. "
again repetition. it has been time and again said that the fully consolidated NWOG assets have not yet been included. read through the thread and you will know.
"News indicates a $2.20 per share value. Actual value is roughly .50 per share."
hehe..this you dont have to worry about. time will tell. future of the company is dependent on investor sentiment and what he beleives is future worth of the company. stock price is calculated on basis of future performance of company. so, 2.2 or 0.5 will be decided by market, not you or I.
"According to news, your share is only 41 percent of the unknown true value of this merged company. Current common share holders enjoy less than half of the unknown true value.
Clearly there are many problems and many other problems not discussed. Common sense dictates traders treat all of this with extreme caution."
everyone reads the news and does their DD. and your caution is unwarranted unless you consider yourself to be far superior to interpreting news/PR's than anybody else on the board. so just relax, and play your stocks. if you are that desperate to give advices, go ahead open your own thread and advice people.
Thorough and well-stated.
Posts: 456 | Registered: Mar 2006
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posted
Purl and others who spend their time in threads of stocks they allegedly don't own remind me of many New York Times reporters: they pepper their offerings with a little bit of facts, a little jargon to impress the ignorant and then a whole bunch of speculation and opinion that always errs to the negative.
Example:
quote:Originally posted by Purl Gurl: "Goodwill 4 762 020"
This Goodwill is carried over into the merged company. This Goodwill has been carried on the books for years. This represents the value of an empty shell, Bio-Tracking Securities. This company does not exist nor are there any lingering intangible nor tangible assets. Per SEC Section 142, impairment testing reduces this Goodwill to zero. Financial assets are overstated by roughly five-milllion dollars.
__________
Impairment testing is an exceedingly difficult task. So much so that there are accounting firms who do nothing but impairment testing . So, if Purl Gurl is claiming, “…impairment testing reduces this Goodwill to zero”, then perhaps she should share her revelations!?! I must assume she is the only person on this board who is privy to audited financial statements to author such a claim. Purl, when giving us your proof then please keep the following in mind:
Step I - Test for Potential Impairment Compares fair value of reporting unit with its carrying amount (accounting value).
If fair value of reporting unit is greater than its carrying amount (including recorded goodwill), then no impairment… no need to perform Step II.
If the reporting unit carrying amount (including recorded goodwill) is greater than its fair value, then must complete Step II to measure the amount of impairment, if any.
Step II - Measuring the amount of impairment loss This step compares the implied fair value at goodwill of the reporting unit with the carrying amount of that goodwill.
Note 13 of SFAS 142 states "The fair value of goodwill can be measured only as a residual and cannot be measured directly. Therefore, this Statement includes a methodology to determine an amount that achieves a reasonable estimate of the value of goodwill for purposes of measuring an impairment loss. That estimate is referred to herein as the implied value of goodwill".
The implied fair market value of goodwill shall be determined in the same manner as the amount of goodwill recognized in a business combination is determined.
In order to determine the implied fair value of the goodwill, all assets must be valued.
Assets subject to testing under SFAS 121 must be tested before goodwill can be tested under SFAS 142.
If the carrying amount of a reporting unit goodwill exceed the implied fair value of that goodwill, then an impairment loss must be recognized for an amount equal to that excess.
The impairment loss cannot exceed the carrying amount of the goodwill. Only the value of goodwill is adjusted through this process.
The adjusted carrying amount of goodwill will be its new accounting basis.
Goodwill can not be increased to its original carrying amount in the future. Once written down, it stays down. See Paragraph(s) 19 - 22 of SFAS 142.
Statement 142 also adds to disclosures previously required, including requirements to disclose information about the changes in the carrying value of goodwill from period to period, the carrying amount of intangible assets by major intangible asset class for those subject to amortization and those not subject to amortization, and the estimated amortization expense related to intangible assets for the next five years.
posted
If anyone would like to bone-up on their understandings of how the SEC codifies accounting practices for Oil and Gas Producing Activities (in lieu of taking other people's interpretations of same):
posted
DIG, the 8K is a statement that shows a 1 time significant change in a companies finacials...The next quarter will be the 10Q and it will cover the period you stated
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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posted
OK west, what is the form we are expecting next that we are waiting for and what is it about, if you could enlighten me.
Posts: 4245 | From: SMALLVILLE USA | Registered: May 2004
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posted
DIG, we are waiting for the 8K. It will show the exact numbers from the merger. 8K's are the way a company shows significant financial changes. In NDOL's case, it will be good.
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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I think we all learn more when we actually go to the source rather than reading other people's Cliff Notes on a given topic (not directed at you, Rich).
quote:Originally posted by RichBy26: thanks west, I appreciate your facts and direct links. I do sometimes just try to abbreviate, but the exact definitions are always best.
No problem, Rich. And what I was referencing is when people take small snippets of filings and seemingly punch holes in the information without giving a complete picture. I watched so many investors walk into buzz saws when 1031 exchanges were the hottest commodity around (exchanging into single tenant deals like Eckerd’s drug stores) and the buyers knew less than the brokers and didn't even take the time to beat up the numbers themselves.
Well, we have so much of that going on around here...so much. And it always seems to happen when we are ticking red...
Hmmmmmmmmmm...:::Pensive Chin Scratch:::
P.S. And your pithy summations are very helpful.
Posts: 456 | Registered: Mar 2006
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posted
5 stars for you west, your ok in my book. So many people on these boards are not to be trusted. It's nice to have a knowledgeable conversation for a change:)
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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posted
Don't know if you caught my response yesterday with all the B/S on this thread, so I'll post it again
quote:Originally posted by westcott:
quote:Originally posted by RichBy26: I wish I had gotten in when some of you did back in the teens!!!
Rich, take a look at EDEX and tell me what you think. I am not telling you to buy this stock. I am simply looking for a third party opinion. Many of the people who I have contact with bought NDOL at or around .10 and targeted EDEX as their next play.
Full disclosure: I have 98,750 shares of EDEX and plan on holding these, no matter what, through June.
West---charts look EXTREMELY bullish! Other than good short, mid and long term indicators, it's a pink so it's a gamble. If they come up with something good while drilling it could be a great play...JMHO
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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posted
Hahaha...my wife called my briefcase a "colostomy bag" for a period of time because we were in feast mode for a short while when I bet the farm on some vacant real estate - talk about being cash poor at the time.
I learned a quick lesson in one of the most important fundamentals of life: cash-flow.
Why don't they teach this stuff in school instead of how to put a condom on a banana? Great, so our kids can protect fruit from STDs, but can't balance their own economic lives. Yeeesssshhhh...
Sorry about the OT rant.
Posts: 456 | Registered: Mar 2006
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posted
It's good to see folks getting along. Guys I am going to be with you for awhile because like I said earlier, I think the price is going to rise. I know you guys are in long so let me direct my next statement to the folks that jumped ship this morning, just so they know how profitable their fear is,, 2600 dollars in about 20 minutes. Now lets see what happens when Purl shows up.
-------------------- skids are for kids Posts: 206 | From: Germany | Registered: Apr 2006
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quote:Originally posted by RichBy26: West---charts look EXTREMELY bullish! Other than good short, mid and long term indicators, it's a pink so it's a gamble. If they come up with something good while drilling it could be a great play...JMHO
Acutally, I did miss that. Thank you for your input, Rich. I have much more at stake there then I do here...
Posts: 456 | Registered: Mar 2006
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anyways heres what i dont like in your post
