OTOTOTOT! Blankmind & Hype:
This will be the last time I post about a meaningless issue on the best thread on SI. If Blankmind wonders why I believe he hypes every post, then here is some of his comments on SOFN. Reading through these comments, I came to the conclusion (in error according to blankmind) that blankmind was hyping sofn. All of a sudden he has a change of opinion because 3/31/02 is approaching?
Anyone can have change of opinion. Even on a daily basis. I posted my opinion that blankmind posts exaggerations and hype on every stock he speculates in (i.e., aol, tyco, sofn, etc.). This is my opinion. He believes he is right and took the 30% profit.
I believe in accountability. I live in a different world than blankmind. I'm not going to say that I will be "p---ed" if I don't get $4 and then sell out @ $1.99.
Blankmind -- we have a difference of opinion. Let's please let the thread return to more meaningful discussion. I do recommend you or anyone do a search on your comments to support your "beliefs" or my "beliefs" -- if anyone is in doubt about your "postings".
Prosperous Investing. CJ
Interesting blankmind comments:
1)- I'm willing to bet that today's $2 stock price will be laughable
2) - i think SOFN gets an offer of between $5-10 by 3/31/02
3) - if we come away w/ less than $4/sh; given the $3/sh in cash, i'll really be p---- off
4) -we'll see - but i think at under $2; with a minimum buyout of $5 IMHO
3/9/02:
Message 17176709
everyone I alerted to Softnet at the $1.50 or so level - it's now at $1.97 - unlike folks such as MRCJMONEY - not everyone complains w/ 30% profits in 2 or 3 months
3/8/02:
Message 17169723
MRCJMONEY - you're a bit pompous - I never said that SOFN w/ go for $13 - nor did I say I wouldn't sell till a certain point -
- plust the fact that you don't even own it -
- or am I the only one who buys a stock thinking it's an easy double; watch it go up 10% in 2 days, & say heck w/ it & take the profit?
3/6/02:
Message 17158500
- sold my softnet (sofn) & put the proceeds into ESG Re (ESREF)
Reason: ESREF’s last 4Q01 earnings release was pretty stellar & should have moved the stock much higher; instead, it’s even lower. So locked in profits on SOFN to lower cost basis in ESREF. We’ll see. By the way - deadline for filing 10-Q is 45 days; and 1Q02 ends 3/31/02 - so around mid-May should know
2/15/02:
Message 17069260
mrcj, "3/31/02" is just the date Softnet (SOFN) plans on making the announcement on a buyer - but as far as valuations - i'd like to say $13 - but i'll be happy with half that amount
total curr assets: $79.5 mill
- restricted cash & other non-curr assets: $8 mill
- total liabil: $11 mill
- shs o/s: 25.2 mill
- therefore: $76.5 mill/25.2 = $3.04/share
- then there's the $400 mill in loss carry-forwards; which at 40% federeal is equivalent to $160 mill; divided by 25.2 mill shs is $6.35/share
- then you have the broadband satellite segment which appears to be doing very well & can hopefully fetch $100 mill; which is $4 share - then you have certain intangibles, like the fact that SOFN is NASDAQ listed company - if you add up each of these, you get $3+6+4=$13+ intangibles
2/9/02
Message 17039249
SOFN (Softnet) - gettign closer to the 3/31/02 sell-off anouncement- though the stock briefly broker $2, it's back under $1.90 - should shoot up by 3/31/02, given the pending announcement, & $3/shr cash
1/24/02:
Message 16952968
Mcsweet - only $2.60/sh? What am i missing?
- if we come away w/ less than $4/sh; given the $3/sh in cash, i'll really be p---- off
1/8/02:
Message 16878174
"how much would you pay for a business currently doing less than $4M sales and losing 4 times that amount" - they're not - you're looking at write downs - they're losing about $800k/qtr
"The NOL's . . " - you may be right here - i know they can be used - but exactly how - i don't know - I'd hate to think the rule are as ridiculous as you mention - let's hope not - maybe someone who knows for sure can comment
"By the time a deal gets done . . . " nope - they're down to a skeletal crew - so no big expenses down the line
- we'll see - but i think at under $2; with a minimum buyout of $5 IMHO; it's worth holding for another 82 days
1/6/02
Message 16868309
I'm coming up with $13+ per share for SOFN. I can't help it if they're trading at $2.
- SOFN's (Softnet's) true cash position - per their 10K just filed on 12/28/01 - is over $3/share:
-total curr assets: $79.5 mill
- restricted cash & other non-curr assets: $8 mill
- total liabil: $11 mill
- shs o/s: 25.2 mill
- therefore: $76.5 mill/25.2 = $3.04/share
- then there's the $400 mill in loss carry-forwards; which at 40% federeal is equivalent to $160 mill; divided by 25.2 mill shs is $6.35/share
- then you have the broadband satellite segment which appears to be doing very well & can hopefully fetch $100 mill; which is $4 share
- then you have certain intangibles, like the fact that SOFN is NASDAQ listed company
- if you add up each of these, you get $3+6+4=$13+ intangibles
- so what is the real value we'll get? I don't know - but we'll have a clearer idea by 3/31/02; & I'm willing to bet that today's $2 stock price will be laughable
1/2/02:
Message 16851230
- i think SOFN gets an offer of between $5-10 by 3/31/02
12/28/01:
Message 16840509
Got a very small opening position partial fill in SOFN at $1.66.
11/30/01:
Message 16729630
SOFN - Softnet - is saying they'll take any & all offers - they'll go to the high bidder - wtih about $3 cash + big pent up losses - & several decent ongoing business lines - I'll stick this one out to the $3+ level - more importantly - it appears an announcemnt should happen by 31 jan 02 - so given the $1.75 stock price - looks good |
