posted
I put a bid in at 3.08 just after it hit 3.07 didn't get filled. Oh well.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
The hold up to date has been the filing of the Company's Annual and Quarterly report. Call with any additional questions.
Sincerely, David Zazoff 212-505-5976
-----Original Message----- From: ****** [mailto:******] Sent: Thursday, December 07, 2006 1:26 PM To: PressReleases*Za-Consulting.net Subject: IEAM Question
Dear Mr. Zazoff,
I am a current shareholder of Industrial Enterprises of America and had a question concerning nasdaq approval. On June 26th, it was press released that the company had filed an application to get to nasdaq. It is now December and the company has still not been approved. What is the holdup? Thank you.
Sincerely,
*********
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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posted
Here's from when he was another Board... read carefully.
John D. Mazzuto Chairman of the Board of Directors September, 1995 to present. Director and former Chairman of the Board of Directors from October, 1990 until November, 1993. Mr. Mazzuto also serves on the Board of Directors of Chester Holdings, CPT Holdings, Texfi Industries, Inc. and Weldotron, all public companies engaged in a variety of businesses. Since February, 1991 he has been Chairman and Chief Executive Officer of Greystone Partners, Inc., a private investment bank specializing in assisting companies complete successful turnarounds and providing them capital as appropriate . Prior to February, 1991, Mr. Mazzuto was Chief Executive Officer of the North American operations of Asian Oceanic Holdings, Ltd., a Hong Kong based international merchant bank.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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John Mazzuto, 56, a director and the Company's Vice Chairman of the Board, Chief Financial Officer and Assistant Secretary, has been an investor, financial consultant and advisor to a number of mid and small sized firms in various industries. Previously, he was Managing Director of corporate finance of Chemical Bank of New York. Mr. Mazzuto was Group Managing Director of an international merchant bank and was a member of the board of directors of a number of companies. Mr. Mazzuto graduated from Yale College in 1970.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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According to Chief Financial Officer, James Margulies, ``The third quarter 2006 filing is significant in that it reflects resolution of the various open accounting issues as previously detailed. These restatements, as stated earlier, will have no material impact on the Company's strong results for the fourth quarter or the earnings guidance of $1.20 per share previously provided for fiscal 2007.''
That's a leading PE of 2.6 for 2007...might explain why the CEO is buying all he can.
Posts: 1053 | Registered: Mar 2006
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quote:Originally posted by Baxt06: From the Nov. 3rd PR:
According to Chief Financial Officer, James Margulies, ``The third quarter 2006 filing is significant in that it reflects resolution of the various open accounting issues as previously detailed. These restatements, as stated earlier, will have no material impact on the Company's strong results for the fourth quarter or the earnings guidance of $1.20 per share previously provided for fiscal 2007.''
That's a leading PE of 2.6 for 2007...might explain why the CEO is buying all he can.
I wonder why Marguiles is buying too
Looks to me like its nasdaq time with substantial earnings. Like the prospects here.
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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what I do know is when it was at $6 the CEO was buying tons of shares....he bought it from 12-4 to 12-6 from $6-$3.20
The CEO purchased in the open market close to $1.2 million worth? Do you think any person is in the business to lose money? I don't think so!
Go ahead and look how profitable this company is expected to be. Check out the CEO's background...Yale graduate, very knowledgeable, lots of experience.
According to Chief Financial Officer, James Margulies, ``The third quarter 2006 filing is significant in that it reflects resolution of the various open accounting issues as previously detailed. These restatements, as stated earlier, will have no material impact on the Company's strong results for the fourth quarter or the earnings guidance of $1.20 per share previously provided for fiscal 2007.''
Okay take those earnings x 15 PE = $18 share price
Only 10 million shares outstanding...
Look at the PR on June 26th, about how quick they are expanding and have filed a form for nasdaq approval.
Check out this email I received back: -------------------------------------------------------------------------- The hold up to date has been the filing of the Company's Annual and Quarterly report. Call with any additional questions.
Sincerely, David Zazoff 212-505-5976
-----Original Message----- From: ****** [mailto:******] Sent: Thursday, December 07, 2006 1:26 PM To: PressReleases*Za-Consulting.net Subject: IEAM Question
Dear Mr. Zazoff,
I am a current shareholder of Industrial Enterprises of America and had a question concerning nasdaq approval. On June 26th, it was press released that the company had filed an application to get to nasdaq. It is now December and the company has still not been approved. What is the holdup? Thank you.
Now after looking at what investors relations said, you do the thinking for me. The latest 10Q was just amended on 12/06/06.....they have had trouble with their filings and had to get some stuff restated on there. That's why they havent gotten nasdaq approval yet. Now that the annual and quarterly is restated and correct what do you think is next? Isnt it funny the CEO is buying shares from 12/4/06-12/6/06...and not just buying a little but $1.2 million worth? If I had to guess....I'd say he knew the 10Q/A was about to be completed, and nasdaq is right around the corner. When earnings come in from this 4th quarter and combine it with a possible nasdaq listing...watch what happens
Well that's my take, and as always just my opinion
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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posted
another opinion from HSM which makes complete sense!
If you look at the chart for IEAM, the big drop off occurred on 4 Dec 06. With improved revenues as reported in the 10-QSB on 4 Dec 06, it makes you wonder why the big drop off? The file had to be amended because (read Bold):
The Amended Quarterly Report on Form 10-QSB for the period ended September 30, 2006 (the “Original Filing”) was inadvertantly filed with a box checked in the section titled “APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDING DURING THE PRECEDING FIVE YEARS”. This box should not have been checked. Accordingly, in this Second Amendment to the Quarterly Report on Form 10-QSB for the quarter ended September 30, 2006 ("Amendment No. 2"), the Company has made the same filing but with the box unchecked..
Pursuant to the rules of the Securities and Exchange Commission (the "SEC"), Item 6, "Exhibits," of Part II of this Amendment No. 2 to the Original Filing has been amended to contain updated certifications from our Chief Executive Officer and Chief Financial Officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002.
This Amendment No. 2 only amends and restates the Items described above to reflect the effects of the restatement, and we have not modified or updated other disclosures presented in our Original Filing. Accordingly, this Amendment No. 2 does not reflect events occurring after the filing of the Original Filing and does not modify or update those disclosures affected by subsequent events, except as specifically referenced herein. Information not affected by this Amendment No. 2 is unchanged and reflects the disclosures made at the time of the Original Filing on December 4, 2006.
The drop off occured after the original filing. Do you guys think this error inadvertantly caused the sell off? This might explain it. However, I have one more possibility that is a little more far reaching, suppose the error on the 10-QSB was made on purpose to allow for a buying opportunity for the insiders who are at present buying large sums of common stock. The 10-QSB was recieved by the SEC on 4 Dec 06 at Accepted: 2006-12-04 06:05:20 . Did the massive sell off on 4 Dec 06 begin as soon as the market opened? If so, this might lead one to believe the 10-QSB that had to be amended might have caused the big sell of on 4 Dec 06 and the subsequent days.
Now that it has been amended and all of the company officers have had there fill of cheaper shares, do we see a bounce?
Posts: 6266 | Registered: Jun 2004
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posted
With regard to the CEO buying as much as he had I have a question. I know there are cases when a company will announce a share buyback which will get the price to rise while the CEO is selling his personal shares because he can make money on the proce increase. I can't think of a way that a CEO could pull the same type of shenanigans while buying shares on the open market, since he has to hold them for 6 months. So this isn't a case where you could think something is a good sign but in reality may not be.
What I'm saying is that there is no reason that a CEO would buy this many shares unless he expects it to go up, correct? Whereas a share buyback is a situation where peole say "the company must think good things are coming!" When really it could just be a way for the CEO to make some extra cash.
Anyone see a flaw in my logic?
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Sorry Stocktrader22 I didnt see this thread. This looks great just wondering who is shorting IEAM now?
Posts: 282 | From: Atlanta Ga. | Registered: Apr 2005
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IEAM filed a application to become listed on the NASDAQ on June 26, 2006. How long does this take? And when you look at how much insiders have loaded up in the last week it makes you wonder if they already know.
Posts: 282 | From: Atlanta Ga. | Registered: Apr 2005
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quote:Originally posted by Goodones: IEAM filed a application to become listed on the NASDAQ on June 26, 2006. How long does this take? And when you look at how much insiders have loaded up in the last week it makes you wonder if they already know.
lol read through this thread....i sent an email to IR....I think its coming VERY SOON. JMO
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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I was reading through your post stocktrader22. The idea that the error in the 10Q was on purpose is exactly what I thought too when I found this stock. Great way for insiders to make money and not get caught.
Posts: 282 | From: Atlanta Ga. | Registered: Apr 2005
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posted
I wouldn't hope it was insider manipulation... that could lead to an SEC investigation and a halt sometime in the future... let's just hope it was an oversight.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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