I would like to give you some background on why I put all my hats in one basket. As you are aware from my previous posts, I have been following this company for several months. I have a great handle on the fundamentals and the technicals. I understood and followed the shorting situation for months. So I started buying some shares.
A few weeks ago, I went to get gas at my Exxon gas station near my house. When I went inside to pay my bill, I SAW THE HATS. I knew it immediately that they were THE HATS. I looked closely and saw the Ad-Hatters logo and Park City, Utah on it. On the back in small print it says: AD-HATTER'S, INC. A subsidiary of Coconino S.M.A. Inc. - OTC:BB (CSMA). There was no rush greater than seeing this small bulletin board company's product in a local Exxon gas station. Additionally, when I purchased it (for $3.99) the clerk said "Isn't it cute?". I said I knew about them and I bought stock in the company. She said "Then you're going to be rich." I said "Why do you say that?". She said: Because they are selling. This was around the beginning of October right when the stock broke through the .20 level on the downside. That completed the total validation of the company for me to extend my buying to the fullest. Every few days I go back to the gas station and I see the rack become depleted and be restocked. She was right, they were selling. Recently, I went back and noticed a new variety of hats, they now have "designer" hats (same price). They had a classic corvette hat that I had to purchase because I have a '67 corvette! I was elated.
I know that many of you might not relate well to this, but think about this: Wouldn't you get excited if you saw a product from a small company that you own stock in, one that you have been following for months, in a national gas station franchise? I did.
The reality is that the company is going to make a fortune and the hats are going to play a small role in it, but the hats kept Coconino's bottom line strong enough to prevent dilution that would have allowed shorty's efforts to be much stronger. The company still would have won but we would not be where we are today if it weren't for these hats.
When the stock gets to $4, I'm going to buy shorty a present: I'm going to send him a hat because he allowed us to make a fortune on this company. I hope they have a hat design that's fitting for him then.
David |
