I've been a passive reader for over six months, and I thought that I would post the following observations. I think that they serve to put current discussions in context.
I know that after you've owned a stock for a long time in anticipation of news you kinda get married to it - for better or worse!
"The company has agreed to terms and conditions with its previously announced automotive acquisition. The closing will take place March 01, 1998. The parties have agreed at the request of the seller to a news blackout until January 01" -- Ross 21 November 1997
"MIS will also purchase 15 locations currently operating under franchise agreements. Masters states ''we will be investing almost seven million dollars to complete this purchase. Closing is scheduled no later than the first week of April.'" -- MISM Press Release dated 11 February 1998
"Give your heads a shake! MISM is a tiny company with little cash, big plans and dubious future prospects.
For nearly a year the company's stock was moribund. Then, in the last four months the company has announced "letters-of-intent" (not contracts), but simple documents that promise amazing things in the future. The "future" never seems materialize as the company pushes the bona fide announcement dates back. Maybe things could fall apart altogether in between now and then. Who knows? The point is: a letter-of-intent is hardly a material change in the affairs of the company.
What type of responsible management makes such announcements? I mean, people are going out there, buying stock in anticipation of things coming to fruition. A much more prudent course of action, don't you think, would be to actually announce news when they have something?" -- Joe Sing 17 February 1998
"There has been some talk that our Letters of Intents are not worth much. Well, in this case they are binding documents. Some people need to get use to the fact that MIS is a real company with real acquisitions." -- Dan Masters "letter to shareholders," dated 19 February 1998
"MIS looks better than ever!" -- Leroyt 25 February 1998
"Closing is scheduled to take place in Denver on April 6, on the acquisition of Pretzelmaker, a Denver-based chain of more than 220 pretzel outlets."
"MIS expects to announce full details on its automotive acquisition shortly. According to MIS CEO Dan Masters, 'We have been in almost daily communication with the automotive company. The delay in this transaction was mainly due to changes within their parent company. They have worked most of the changes out and should be able to proceed with us in the next week or so.'" -- MISM Press Release dated 5 March 1998
"MISM website coming soon... stay tuned." -- StockJock-e 7 March 1998
"MIS International, Inc. announced today that it has an agreement to acquire three locations in London Ontario from Goodyear Canada Inc. The locations will be refaced as Wheel to Wheel centers and be reopened by May 1." -- MISM Press Release dated 10 March 1998
"MIS International, Inc. announced today that it has reached an agreement to purchase an Ontario-based automotive repair chain consisting of 27 franchised locations for $1.9 million CAN. The name of the company and its financial data were withheld pending completion of due diligence by MIS in 14 to 21 days." -- MISM Press Release dated 25 March 1998
"I, for one, am skeptical about the MISM thing. The same people DO keep showing up. And It's rather commonplace to see BB bad guys keep reinventing themselves and the companies they operate.
"But as far as the NEW MISM is concerned, Why DO they release news before it's news? It's one of those fishy signs . . ." -- qcom 30 March 1998
"I am sure MISM will catch some flak for this delay (only one week!). Originally, the close of Mr. Twister Pretzels was to happen today but it has been delayed until next week." -- Leroyt 31 March 1998
"My advice is to always give an extra 1-2 weeks from any anticipated closing." -- flightlessbird 6 April 1998
"Well Mr. Sing , your as negative as ever!!,what are you going to do when the deals start closing ??? lol" -- DONAL DEMPSEY 8 April 1998
"The PretzelMaker deal has been delayed until next week." -- nougie 9 April 1998
"The funny thing is I'm LONG on this stock and even I can see that the company is doing more than a little hyping. Don't get me wrong, I'd buy a round for everybody on the thread if this puppy broke through a dollar, but for now, at least, I'm ignoring the "news releases" and taking a Show-me-the-money attitude. hey . . .good luck to us all." -- qcom 13 April 1998
"The word from MISM:
1. Financing to be completed this week. From my understanding, the delay was needed to add the additional funding required for the 27-store auto chain in Ontario.
2. Closing of Pretzel deals early next week." -- Leroyt 14 April 1998
"We are coming down to the time when the deals announced will be closing in the next few weeks" -- Tipster 15 April 1998
"MIS International, Inc. announced today that it is scheduled to close on US$15 million in financing later this week, an increase of US$1.5 million over the previously announced letter of intent." -- MISM Press Release dated 15 April 1998
"That was a good update Leroy, little hypy but that's OK. The preferred offering to secure the credit is logical, and gives me reason to beilieve that this money will actually materialize. If I were a shareholder, I'd just ask why you're telling me this versus the company." -- Joe Sing 28 April 1998
"MIS International, Inc. announced that on April 16 it signed a loan agreement for US$18 million, an increase of US$4.5 million over the previously announced letter of intent" -- MISM Press Release dated 5 May 1998
"Another worthless press release. If any of these deals closes this year I'll be the most surprised person
on the face of the earth. No mention of the auto deals in the release. I believe a March 6 press release stated news about the auto deals 'within a week or so.'" -- nougie 5 May 1998
"Leroy, where was this proxy thing 2 months ago when the company stated that the pretzel deals were to close at the end of March and beginning of April? I'm getting more confused everyday." -- nougie 15 May 1998
"MIS International Inc. announced today that it has selected a new U.S.-based lending institution to complete the financing necessary to close on its various pending acquisitions. As a result of the move, MIS expects to close on the funding on or about June 4th at an interest rate significantly lower than that being offered by the company's previous lender which should result in a first year's savings of approximately $1 million." -- MISM Press Release dated 19 May 1998
"Today's the BIG day. Of course I'm willing to give the company a grace period of, say, 10 business days
to come trough with the goods. That's 2 full weeks to you and me." -- nougie 4 June 1998
"MISM..Financing done!!! Should be news tomorrow!!!Yahoo" -- John E. Fiorentino 11 June 1998
"Well Dan we are not going to take it any longer. we are going to shoot are self in the foot and sell off every share we own and drive this stock to .05 I think that is the heavy sentiment of many investors." -- goldengoose 27 June 1998
I must admit, though, for a stock with 16-plus million shares out, and only a 6 million share float, this ongoing soap opera has generated a lot of interest in the stock, and a lot of volume. I just hope its by accident and not by design. I also hope, for the directors' sake, the pending deals go through, otherwise they'll be spending a good portion of their remaining lives in a courtroom.
JS/BB |
