JPEI a review. Impact date end of July, August when 2nd earnings come out.
JPEI
30400 Telegraph Road, Suite 401
Bingham Farms, MI 48025
Phone: (248) 723-5531 Fax: (248) 723-5536
Employees as of 12/99: 1,000
please note this first. Per the company, 95% of the float is very tightly held, so the effective float is ~565K. It is my opinion that the MM's have no paper and any steady volume will create a "squeeze".
1) Company is an old NASDAQ stock that went OTC-BB when its bid price did not meet NAZ requirements.
2) When a NAZ stock it was as high as $7+.
3) Earnings in 1st quarter were $37mil compared to $14 last year. Think about that. That is 164.27% increase compared to the industry average of 10.88%. Definitely in a turnaround mode.
4) Heinz C. Prechter, 57, has taken over the helm. This is very important. Some of Mr. Prechter's bio:
This Mr. Prechter (new owner CEO) has bought his ASC Holdings - a nice operating shell and can move assetts into it fairly easily!!
Heinz C. Prechter, 57, became a director of Exide in March 1999. Mr. Prechter is Chairman of Prechter Holdings, a holding company he founded in 1965 that owns various manufacturing companies, one of which is a supplier of the automobile industry. Mr. Prechter is also the Founding Chairman and Director of Automotive Supplier Co-Operative.
He is listed as a Signatory as of 3/31/99 filed on June 29, 1999 for EXIDE the largest manufacturer and marketer of lead acid batteries in the world, with fiscal 1999 net sales of approximately $2.4 billion."
ascglobal.com ASCc - Partners for Technology and
Growth JPEI 95% of this company
5) Also, Comerica Bank duly secured the JPEI holding of Mr. Prechter as collateral for a $US53MM note to Comerica Bank (strong).
When is the last time we saw a large bank take penny stock as collateral for a $53MM debt????
6) ASC Holdings also OWNS Heritage Media Group ( includes 12 Southeast Newspapers, heritage Development ( a real estate firm ) and Heritage Network, an investment firm and Acceptance Insurance Companies."
7) This 1st qtr institutional buying was 170k.
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