Hey Mike, I started entering MPRS about the same time as you...I've made buys at about 8 different times. My prices aren't important...what is important is that I'm right alongside the other longs here in the thread for the same reasons. Basically, I have similiar targets as you (4+) and what I'm holding was bought for a year play...no hurry on my part to get out of this one.
I understand that management has done some things that are questionable and perhaps confusing(from back reading this and the Spectrum thread) in the past...I am fortunate (and humble about it) that I was not a holder during those time frames. I can say that since I've held they have been nothing less than admirable...my reasoning?
1)Avoided a potential $8 mil break-up fee (plus 1.5 mil potential expenses) to GTIS. That's a nice move to save the co. $9.5 mil. cold cash (read the last 10-q to confirm what I am saying here).
2)The MPRS brass(Louie and Race especially) stepped up immediately last Dec/97 and made some nice insider purchases. This is a favorite of mine after the street trashes a stock. Historically I have come out nice when management initiates some buys after their stock has free fallin.
3) Products I expected to ship, have shipped...Magic Gathering & Manalink, Worms 2, Ultimate Race, M1 tank mastering.
For the 3 months I have been holding I really have nothing to complain about. Even all this reverse split talk is exactly that...talk. When the brass reveals more info. I'll worry about it then. I'm one of the few here that actually wants a reverse. I won't go into the reasons, since I stated them a few times in posts 2 months ago. Hopefully it will be as small as possible (1 for 2 would be ideal).
Well...those are some thoughts. In addition I'd like to thank Coy for posting all the game mag reviews when they hit. Here is a classic example of the thread sharing resources. We all gain here and Coy (and the others that posted URL's) has the right idea in the sense that we all are outsiders, we don't get a chnace to examine the inside operations of the co. Chasing down the game mag. reviews is an excellent way to keep up to date on the titles. I'll wager that the street isn't that informed (as quickly I mean). As investors we have the advantage by peering into the co. -via- these reviews, at the least were up to date. These reviews are a very important part of investing in a s/w bus. like we have.
Last thing...it sure feels good seeing the stock recover well from that dismal q3 report. Equally it feels good seeing it bounce off of the new low (that 1 7/16 lasted about a whole 30 minutes...if even that). Trading vol. dried up a bit last two days, still above the daily average though...big plus here. $2 7/16 seems like the resistance level...getting through that will be fun if/when it happens. Not sure what triggered all this vol. in the first place, perhaps time will tell. We must watch the filings for a potential fund entering or adding here...I check 3 times daily.
Sounds like you picked some real nice winners lately. Congratulations, I'm playing a few in different sectors...mostly distant plays and have not enjoyed the recent gains that you have but will continue to strive for them.
I have been through a few takeovers and try to target my selections to co's that not only offer the upside through trading but also show a hint of takeover possibility...obviously this factored into MPRS and my holdings here. The "Key" being Louie publically stating that MPRS had several strategic alternatives (and not just GTIS)...I have no reason to believe that this has changed. If multiple parties were interested back then, more than likely they are still interested...only thing is perhaps price has changed.
The most recent takeover I have been through was NETC last Oct/97 and I played that one real nice last year...in & out with gains several times (playing likely takeover windows) and timed the re-entry nice for the eventual take-out. Hopefully, the holders of MPRS can become fortunate enough to have another play at MPRS and bring the valuations up respectively.
Post became longer than I expected...sorry thread.
Best of luck to the MPRS longs!
Rich |
