Greetings All!. I'm that guy on AOL who's been talking about OLPV. To begin with a little background. I own over 125,000 shares of this company at prices between .13-.75. As a result I have done more homework on these guys then I ever did during my scholastic years.
Here's the skinny:
I've spoken to Gary Morgan, the CEO over a dozen times in the last 2 months. My broker has spoken with him another 20 times. Between me, my friends and my broker we're very close to filing a 13D on OLPV (over 5% of the shares).
The financials were promised to me on an anyday basis for the last month. Finally the auditors from NY flew down this past tuesday and Morgan promised me that they would definitely be out one day next week. First the 10K and then 2 weeks later the 10Q. The reports of $100,000 profit for the quarter are what I'm hearing also. In addition at least 2 more jean deals in the ballpark of $1,000,000 each.
The financials are not late as proper forms were sent out for extensions to the SEC. However their delay, in my opinion, is one of the reasons the stock is where it is.. I wouldn't expect this stock to do anything until after tax selling time anyway. This is perfect stock to take a loss on. Morgan feels that market makers have illegal shorted this stock and played their usual manipulation games on this one. I tend to agree.
The 200,000 shares sold by Nu Horizon, Morgan's compnay, were sold to his wife. A tax manuever and a very bullish sign. By the way The three execs are getting paid in shares not cash. That's one of the things I like about this company. Even if its a scam (which by no means I'm saying it is) they only make money if the stock goes up. They are getting zippo in salary. The company did announce a 2,000,000 stock buyback and has bought about 230,000 of those shares.
I think this company is grossly undervalued. Book value by my estimates is about 50 cents without the new contracts that I expect or the spring release of their own children's line. I also expect some very positive announcements with the release of the 10Q.
A new PR firm will be hired shortly. A firm (the name escapes me right now) out of San Diego was the leading canidate. The old firm Summit Marketing was not helping the company out and after many complaints, mine included, Morgan fired them about 3 weeks ago. Seeing the press release about the last contract indicates that they must hire a PR firm quickly. My 2 year old daughter could have done a better job.
After many conversations with Morgan I feel that he is a stand up guy. I know he is honestly disturbed by the stock action of the last 3 months. He claims to have a goal of getting the stock on the NASDAQ small caps by the end of next year. I hope he's right. |
