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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: gizwick who wrote (57943)	9/9/2016 3:11:06 AM
From: Elroy	Respond to of 78740

This doesn't seem like very good news for TCPI. CFO sold 13,980 shares on Aug. 15th secfilings.nasdaq.com CFO sold 22,203 shares on Aug. 30th secfilings.nasdaq.com Hard to believe the guy couldn't wait until the end of September for the filings to become up to date....

To: gizwick who wrote (57943)	9/9/2016 3:16:44 AM
From: Elroy	Read Replies (1) \| Respond to of 78740

And this is the first time I've seen this guesstimate of Q2 2016 results.... -- Unaudited preliminary financial results for the quarter ended June 30, 2016, are expected to include revenues within the range of $80 million to $83 million, income before income taxes within the range of $0.1 million to $1.0 million, and diluted earnings per share within the range of $0.21 to $0.23 per share. Earnings per share for the quarter includes the $0.21 per share benefit of income tax contingencies released upon the expiration of the statute of limitations for the related tax positions. Revenue decreased for the quarter primarily due to lower sales of CFL products resulting from lower demand in North America. Cash and cash equivalents are expected to be approximately $21 million and short-term loans and current portion of long-term debt are expected to be approximately $47 million at June 30, 2016. Based upon the investigative procedures to date, the Registrant has not identified any material adjustments to its financial results. However, the investigation is still ongoing and there can be no assurance that material adjustments to previously issued financial statements or these preliminary results will not be required. --- secfilings.nasdaq.com So.... lets see. Annual sales are roughly $330 million. Quarterly EPS is roughly break even to one or two cents of EPS. That seems OK for a company with a market cap of only $38 million (1/10th of sales). However, the balance sheet appears to be a problem. They have cash of $21 million but obligations due within one year of $47 million. I wonder how they are going to deal with that upcoming $47m bill?? ---------- Here's the same info for Q1 2016: Unaudited preliminary financial results for the quarter ended March 31, 2016, are expected to include revenues within the range of $88 million to $90 million, income before income taxes within the range of $1.5 million to $2.5 million, and diluted earnings per share within the range of $0.04 to $0.06 per share. Revenue decreased for the quarter primarily due to lower sales of CFL products resulting from lower demand in North America. Cash and cash equivalents are expected to be approximately $35 million and short-term loans and current portion of long-term debt are expected to be approximately $48 million at March 31, 2016. Based upon the investigative procedures to date, the Registrant has not identified any material adjustments to its financial results. However, the investigation is still ongoing and there can be no assurance that material adjustments to previously issued financial statements or these preliminary results will not be required. Yes, they appear to have a serious balance sheet cash crunch problem. From Q1 2016 to Q2 2016 cash declined by $14 million even though they were profitable in both quarters. How they going to pay that $47 million which (apparently) is due before the end of Q1 2017? This appears to be the key question based on these two preliminary quarterly reports. How are they going to pay their near term (less than 9 months) debts?

To: gizwick who wrote (57943)	9/10/2016 10:28:44 PM
From: Lazarus	1 Recommendation Recommended By Jurgis Bekepuris Read Replies (1) \| Respond to of 78740

When your much touted HOTR was around $1.50 I predicted .38 or bankruptcy.... I think we've missed .38 by about a penny and it looks like a bounce from here. BK is still possible... but a turnaround in the stock price here is also possible. I'll say .18 for TCPI [or bankruptcy] but I suspect a prolonged decline from this recent ramp. Buenas Suerte Amigo, Lazarus - Puppeteer, Stock Trader, and Flea Trainer Extraodinaire.