Information on CSLMF can be hard to find, but it's not impossible.
There are SEC filings for CSLMF, but they are not in the EDGAR database because it is a foreign company. If you don't receive any filings in what the company sends you, you might want to call again and ask for their annual report on Form 20-F. The 1996 annual report probably won't be out until June or July, but the 1995 report will still be helpful.
You also might want to request some information from Polyair Inter Pack, since they are the key to CSLMF. The phone number is (416) 740-2687. They have a very impressive 1996 annual report that they can send you. You can also get a quote on Polyair from Yahoo using the symbol "ppk.to". Polyair should be reporting their 2nd quarter earnings in June.
Regarding the problems you had when calling CSLMF, remember that CSLMF is just a holding company. The businesses that really need to act professionally on the phone are Polyair and Amdesco. Also, I don't think Consolidated is incredibly concerned about their stock price right now. (If they were, they'd probably make more of an effort to impress people that call.) They apparently feel that the stock price will take care of itself when (if) Polyair and Amdesco are both trading on Nasdaq.
I agree with your comments about buying a stock that has already gone up after a report comes out. Many times the stock drops again before too long, and a lot of people end up paying too much. But sometimes, if the stock is truly undervalued, the stock won't fall back too much, and will eventually go much higher. You have to do your own research to know what kind of stock you're dealing with. (Is the company truly undervalued? Was someone PAID to write the report?) In the case of CSLMF, I posted the report (which we were NOT paid to write) when it was at $1.375 ask. Now it is $1.875 ask. It's a tough call whether someone should buy it now - after the ask price rose 36%. If Polyair and Amdesco get to Nasdaq quickly, then this is probably still a great price. If it takes a long time for them to get to Nasdaq, then the stock will likely fall back down. From what I'm told, things will happen fairly quickly. But as you know, things very often take longer to happen than you expect. If you don't want to pay $1.875 for CSLMF, then don't. Either the stock price will fall back down to a price that is acceptable to you, or it will go up further and you'll simply look for another stock to buy. There are plenty of great companies out there... |
