Get out your hammer Kidl
and get ready to tap me on the head. I'm about to do some unsubstantiated hyping and I know how you feel about that.
I've got no news or special information, but even though I'm in the dark, my bat-sensors tell me there's something different moving out there.
For one thing, someone with money, who presumably knows what's going on with the company, is busily buying up any loose shares under a dollar. Why are they doing that now? The recent accumulation is a strong signal.
For another thing, the company is about to make a proper move into the U.S. as a registered SEC reporting company. They have been planning this entry for a long time. Kim has been doing a lot of public relations work with investors and members of the financial community in the U.S., and he tells me has been picking up the pace lately. I can't imagine that they will allow their entry onto the OTCBB system go unnoticed. It makes me wonder if there may be some important developments that coincidentally happen and need to be announced at about the same time.
What might those developments be? The signing of a long-term lease with the Federal Gov't. for the Richmond Downs racetrack site would be a big item, and it has been due for a while, so that's a possibility. With the Feds behind the project, the rest of the pieces should fall into place quite nicely. That project alone is good for at least $1 per share of earnings, not to mention the $36 million that TAC will kick in. The lease announcement alone could propel the share price back up to where it should be.
I don't know what's happening in Michigan, and even though the GLB is probably starting to feel a little sickly and beginning to wish they could get back on track with Sungold; and though I expect a positive resolution, I don't know what might be going on there that could prompt the recent buying. Still, it's possible there's something about to happen there that we haven't heard about. A positive shift in that project would add value that has been almost entirely discounted in the current share price.
Now here's the nut: I think there's something else going on. If I add up the serious financial, and successful business experience resources behind the company management and directors, and the fact that they have shown no reluctance to fund the company out of their own pockets; and connect that to the fact that Sungold will soon begin trading on the OTCBB as an SEC reporting public company, with a small free trading float of shares trading at only a dollar (and that special asset - lots of shorts); and connect that to the famed entrepreneurial talents of the president and directors; and connect that to the recent buying, then I start to think that there are some creative business options that are just now becoming possible. I speculate that these options could be within the current projects, or within the broader mission of Sungold as a development company.
That's as far as I go. I won't mind a tap on the head, but I don't like to be pulverized.
|
