Weekends really are the silly season for this thread. What all of you are doing carefully researching the OVIS thread at 0600 on a Sunday morning really defies explanation.
Just a few thoughts from someone a few time zones ahead:
I have friends in Mauritius who make a lot of money selling cheap T-shirts to the U.S., millions each year as a matter of fact. Their biggest problem is getting them to the U.S., a problem which Caribbean plants don't face. That's why OVIS leased plants in the Caribbean, to undercut Asian suppliers.
Reasonable value for OVIS: the CFO has stated their factory capacity is up to $1 million per month. Give them half that in the coming year and you get $6 million revenue. At 2.5 x sales, that's a market cap of $15 million or $5 per share.
CFO clarified an error in the earlier article saying Morgan is South African; he is, in fact, a U.S. national who worked in South Africa. So his proximity to the Mexican border is irrelevant and inane, unless he plans to abandon his U.S. citizenship for a couple of million dollars. A million bucks doesn't go far these days. Maybe since his firm is based in the South, he is looking for new distribution channels in the Southwest. Nah, that's too boring for this thread.
Horror of horrors, Riley made a mistake with the earnings date long ago. It has since been clarified about 99 times that the 10-K is due by September 30. Companies routinely get a two-week extension so you could expect the June 30 quarterly numbers by October 15. If they don't show up you could start to be suspicious.
The $18 million loss in the last 10-K came from writing down bad assets bought by the last CEO. Look at their operating results and you see a small loss which $6 million revenue would cover easily. But that would mean actually looking at the SEC filings objectively.
Since you have publicly accused Riley of perpetrating a scam, I hope you find a subpoena in your mailbox in the near future. Cheerleading for small investors on the Internet when you have no direct interest in the company apart from 20,000 shares is a long way short of a scam. But that is for lawyers and juries to sort out.
Enough rationality for one day. Please carry on with all the one-sided ranting and raving on both sides. You are preaching to yourselves, to the extent that it matters.
Last question: with all the great high-tech investments out there to research before the market opens Monday, what are all of you doing here? Just bored? I could add few other adjectives but I'll skip it for now.
DB46 |
