Jenkins planning on selling 50% LESS than what he registered in March
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The company has a potential 24 Million share's outstanding. The latest filing actually shows Jenkins decreasing the amount by almost 50% in what he intended to sell..."The Supplement reflects a decrease of 57,071 shares in the number of shares offered by Mr. Jenkins..."
So Jenkins is actually selling 50% less than what he said he intended back in March 1997. I think that's pretty bullish. -- The CEO cutting the amount he is registering from March 1997 by 57K is very positive news.
The other registration is nothing new as we already calculated into the 24 Million Outstanding. It will mean the price may drop slightly, allowing us to buy at an even better price while we wait for the Stockholder and Quarterly news. In my opinion the timing is
pretty good to get the preferred stocks out of the way.
As far as TPRO's debt goes, they are doing great. A 2 Million + loan matures in March (I believe) with a debt to Asset ratio that TPRO beats easily. I am waiting to hear if they paid this debt off with some of the proceeds from the last PP.
Their last stated strategy was to use half the proceeds from warrants and offerings to pay down their debt. The other $2Million dollar debt they have, they don't have to worry about till after 1999. The company is doing pretty well with cash this time around due to the PP. Last quarter they actually had Gross Profits though they absorbed a slight NET Loss.
Jack Zahran
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The section related to Jenkins' sales includes the following:
The following information known to Topro, Inc. (the "Company") as of January 20, 1998 updates and supplements the information set forth in the "Selling Shareholders" section of the Company's March 6, 1997 Prospectus.
The Supplement reflects a decrease of 57,071 shares in the number of shares offered by Mr. Jenkins. So by my reading:
1. This relates to something that occurred last March, and
2. It actually shows lower sales by Jenkins than previously reported.
Clayleas
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Jenkins filed a FORM 144 and registered to sell 3,411? No big deal. IMHO CK HOUSTON
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Actual 8K:
Printed out on Thread - SAME thing as below, but don't have to click to get there
Message 3222917
FreeEdgar: Use following link and click on "TOPRO INC.":
freeedgar.com
Click on TPRO to view filing
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Track what OTHER COMPANIES are doing about Y2K
Might not be a bad idea to check out other companies you've invested in ... including your mutual fund holdings. CK HOUSTON
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Talking about 8-Ks...
New SEC (and GAAP) guidelines required filing of an 8-K if y2k compliance problems will have a material impact on company operations. This could lead to a whole new area of company research.
If you have FreeEdgar, you can set the filters to upload only 8-Ks. It should be interesting to see firsthand what management is doing about Y2K problems.
The media is certainly doing its part to bring y2k issues front and center. This is no surprise to the "Y2K regulars", we predicted this development all along.
For example, did you know that AMC Theatres are having a helluva time using credit cards to pay for tickets?
Doc Stone |
