PharmChem Laboratories Inc (PK) (PCHM) ニュース

PharmChem, Inc. Announces Exploration of Strategic Alternatives

Looking to get bought out. I agree it doesn't make sense PharmChem is a stand alone company

https://www.prnewswire.com/news-releases/pharmchem-inc-announces-exploration-of-strategic-alternatives-302366396.html

Nice... I think this management is focused on cash flowing the business now.

Just checked out the corporate website and saw the October 1st notice to shareholders announcing a special dividend of $.25 per share for shareholders on record at of 10/10 with a pay date of 10/17. I sold 500 shares earlier this year, but still holding 9,000 shares. With nothing much happening in share value, I am happy to see management issuing this special dividend.

I'm still saving up to buy it for you, I haven't forgotten

https://www.otcmarkets.com/otcapi/company/financial-report/374646/content

Probably not a great sign when a director that's not coming back on for another year and is selling shares back to the company at a big discount.

The Company also announces that that it has repurchased 63,910 shares of common stock for $2.00 per
share from Mr. Perlman under the previously announced October 2022 stock repurchase plan.

Div, Yeah they had announced it a while back and it's payable today. I'm happy to see them dividend cash. Much less risky than the idea of taking on debt to buy back shares.

I just read their Letter to Shareholders. I was use to people on this board posting notices like that, but this board has gone dark. Well this was a pleasant surprise. I didn't know the new Executive Board was planning on issuing a dividend. I thought they were going in a different direction with the money.

Whoa just went into my TDA brokerage account to see month-to-date activity and I have a whopping $1,900 PCHM dividend.

Yeah, the cock-sure mgt team also wanted to go into debt to do another buyback at prices well above where we are now. Thank goodness that didn't go thru; That would have been disastrous. Also, very young and never lived thru inflationary times. Very underwhelming so far.

Falling share price and no more dividend. I hope things improve with the new management, because in the past at least we had that big annual dividend to keep us content.

New Q&A

https://s3.amazonaws.com/com-pharmcheck-cdn/document-uploads/2022-PCHM-Shareholder-Meeting-QA.pdf?mtime=20220831154611

Pretty good questions and answers. We'll see where this goes... Fentanyl add-on is especially interesting to me since the fentanyl crisis is getting crazy out there. "the lab worked with us to directly address a stated need from our customers, and we have seen great early uptake."

Seems to me they are butchering the English language--hope they don't do the same to the company.

Yea, it was like they wanted to use the cash on the balance sheet to do something for capital efficiency. Really not sure why they didn't do a dividend, but hindsight is 20/20.

If it works out and sales start ramping into the future maybe the buyback was a good idea.

Totally agree that on the buybacks it didn't seem that undervalued to me either. It's a thinly traded low-float stock and stocks like that can frequently trade for 5 or 6 times earnings, so I didn't think it was cheap at all. I remember thinking, wow, to be buying back at this price they must really be seeing some ramp-up in sales from their marketing efforts. Instead, looks like they just *assumed* their marketing was going to work.

Agreed that there is WAY more uncertainty now. I've reduced size as well. At least the buyback using debt didn't go thru. Thank goodness for that.

Y, to be fair I think that's the board's decision on the dutch tenders. Not a fan of debt either but my guess is they thought the cash flows were going to be steady into the future.

I didn't like the buy backs and would've preferred dividends too mostly because the stock at both times didn't seem that undervalued.

The growth would've come from the new sales efforts that at best seem slow to ramp up but to be fair these are long sales cycles.

Hope they calm the hell down with the fancy financial engineering too.

Full disclosure: My position is considerably smaller than before and reflects how I think there's way more uncertainty with where this ends up than before.

Just seems like trying to do things in the most complicated way possible. In all the years I've been investing I think I've had one company do a dutch tender auction. Here, the CEO wanted to do two of them in the space of about a year. Those things are expensive, huge legal fees. And in the last one he wanted to take on a bunch of debt too! That's crazy. Puts the entire company at risk.

I see no need for all the fancy financial engineering. He seems to think he can turn a slowly growing company into a huge growth stock by leveraging up. Incredibly dangerous. Good chunk of the cash on the balance sheet is now gone. Would have much rather seen a special dividend.

Y, I agree. Not too impressive so far, but it's still early. No sales for the single largest customer (10%) in Q3 is pretty worrying. The covid boost seems real and won't repeat.

Valuation doesn't seem cheap and maybe a bit expensive if you expect current conditions to only continue.

But they're trying new things to spur sales so it's a risk they're willing to take. It does sound like if it's not working out they'll be quick to change things up and just run it lean for cash flow. It's also worth noting the new CEO hasn't had time to implement any changes.

Lots of buzzwords, fancy terminology, data analysis . . . . and substantially lower earnings. Not terribly impressed with new mgt

https://www.otcmarkets.com/otcapi/company/financial-report/340422/content

https://www.otcmarkets.com/otcapi/company/financial-report/338791/content

1. To elect directors to serve for the ensuing year and until their successors are duly elected and qualified.
2. To ratify the appointment of Whitley Penn LLP as independent auditors for the Company for its 2022
fiscal year
3. To transact such other business as may properly come before the Meeting or any adjournment thereof.
The foregoing items of business are more fully described in the Proxy Statement forthcoming.
Only stockholders of record at the close of business on July 15, 2022 are entitled to notice of and to vote
at the Meeting.

PharmChem, Inc. Announces Management Reorganization https://www.otcmarkets.com/otcapi/company/financial-report/336929/content

Notice of Termination of Tender Offer and Private Offering

https://s3.amazonaws.com/com-pharmcheck-cdn/document-uploads/Notice-of-Termination-of-Tender-Offer-and-Private-Offering-May-31-2022.pdf?mtime=20220531153224

Doesn't look like great news unfortunately.

"The Company elected to terminate the Note Offering due to recent developments with respect to the Company’s business and results of operations, which the Company intends to review and address before evaluating any potential financial transactions."

Sounds pretty worrying

whats all this? https://www.otcmarkets.com/otcapi/company/financial-report/330522/content

https://www.otcmarkets.com/otcapi/company/financial-report/330482/content

Tender offer! Hope the notes have decent terms and it goes through.

looks like sales are flattening out post-covid. a bit unfortunate because I thought we had a bit more runway. We'll see if their new sales efforts pan out over time.

new fentanyl patch could be very interesting.

the biggest thing for me is seeing new management/board communicate with shareholders.

https://www.otcmarkets.com/otcapi/company/financial-report/328609/content

PCHM

WOW! with this move O/S will be below 5M shares Out
AMAZINGINGLY LOW

Go PCHM

PharmChem, Inc. Announces Stock Repurchase Program

Fort Worth, TX (March 22, 2022) — PharmChem, Inc. (the “Company”) (OTC: PCHM) today
announced that the Company's Board of Directors has approved a stock repurchase program under
which the Company may repurchase up to 100,000 shares of its common stock at such times and
such prices, as the Company considers to be in the best interests of the Company and its
stockholders, subject to the availability of stock, general market conditions, alternative uses for
capital, and the Company’s financial performance, to be repurchased in open market or private
transactions, through block trades, and pursuant to any trading plan that may be adopted in
accordance with Rule 10b5-1 under the Securities Exchange Act of 1934. This stock repurchase
program has no expiration date and replaces the previous stock repurchase program.

https://s3.amazonaws.com/com-pharmcheck-cdn/document-uploads/PharmChem-Share-Repurchase-Press-Release-March-22-2022.pdf?mtime=20220322163030

~ New marketing ~ New logo ~ lots of new info very exciting ...


https://www.pharmchek.com/
PCHM

It seems this company is transitioning from simply letting cash sit idle and letting the business just run itself into an active growth machine with stock repurchases and the hiring of new salespeople. A very pivotal moment it seems.

https://www.otcmarkets.com/otcapi/company/financial-report/318528/content

Really aggressively buying back shares at $4.60

Final Tender Offer Results

https://www.otcmarkets.com/otcapi/company/financial-report/313967/content

Very interesting changes.

Year over year results for the quarter look about the same if you net out the one-time charges from the proxy fight.

Looks like they're ramping up marketing efforts compared to the previous mgmt. Hope that's offset by lower salary expense that no longer have to be paid to the previous executives.

Also very interesting they already bought 1.5% of the outstanding shares back from the market.

The new board definitely has a much different strategy the previous.

Shareholder letter out. Quarterly results posted to website and OTC Markets


https://www.otcmarkets.com/otcapi/company/financial-report/307594/content


Additional Disclosure

https://www.otcmarkets.com/otcapi/company/financial-report/307595/content

Wearable-Biosensors Non-Invasive Sweat-Diagnostics https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8391966/

this already sounds far better than blood work or pooping in a box EXAS
what's the size of this potential market ....?

the patch is uniquely positioned ...

From the proxy they did say their plan is to
improve reporting on the operations of the business, with regular quarterly reports

So I expect more updates if just updating the financials more frequently.

I hope they communicate with shareholders regularly. GLTA

PCHM

Just wanted to add the new board looks really impressive. A ton of experience with microcaps with from board member.

Tice Brown (Chairman of the Board)

Thompson Clark (Director)

Tim Eriksen (Director)


I feel like often the biggest risk of microcaps and especially OTC stocks is getting screwed by management even if its a good business. These guys all have a ton of experience dealing with microcap managements so I trust these guys with $PCHM.

It helps a ton they each own a lot of shares of PCHM. I love this line from the proxy

Our current plans, should we gain all three board seats at PharmChem will be:
take no board fees or executive compensation. We will profit solely from our stock ownership, appreciation, and dividends.

Go $PCHM!

Let me Start by saying 1 Congrats to all concerned

2 no brainer Kerri Wagner was always top of my list
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=96047952

3 now it can happen PatchTek v2.0 the dream is alive
https://phys.org/news/2021-02-rapid-reliable-on-site-drug-wearable.html

4 I do want to write the next chapter
>>The Ubiquitous Rise of PatchTek ....
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163351676

5 I thanked you before and I'll thank you again past management

6 GOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO Tice PCHM

I added a few to show my confidence in the future got to love how much skin is in the game now that's conviction

https://s3.amazonaws.com/com-pharmcheck-cdn/document-uploads/PharmChem-Inc.-Results-of-Annual-Meeting-8.31.21.pdf?mtime=20210901164823

Interesting times in PharmChem ($PCHM) land. End of an era for sure. Former Chairman Richard Irwin, CEO Joseph Halligan and CFO David Lattanzio got us to where we are so deserve to be thanked. I hope they all have a great retirement.

Looking forward to seeing how the new activist board performs. They already initiated a buyback program. New CEO and CFO makes a ton of sense and congrats to Kerri Wagner and Shana Veale.

Go $PCHM!

Drum Roll Please .... and the winners of the Proxy fight are ...?

Go PCHM Shareholders
TRCK PMD BLOZF

business as usual got the company this far (with great respect and gratitude) but I have advocated many times in the past that without investment, innovation, JV, merger or acquisition we will not make it another decade

that being said I hardly have a dog in this fight and I don't doubt for one second either team have the best intent in mind

ever see this before Patch Tek V.2.0
the future will be real time IMHO

The Future is 'No Holds Barred'

GLTA

GO PCHM
TRCK PMD BLOZF FRAZ

I agree, and it's nice to see someone with skin in the game willing to put up their own money

Breath of fresh air here. This company is in dire need of some outsiders on the Board.

Contested Solicitation. Ericksen has apparently submitted their own proxy and nominated their own board members.

https://materials.proxyvote.com/Approved/717133/20210716/NPS_477012.PDF

I wonder what the funds that want to put directors on the board want to accomplish.

Cedar Creek Partners and Tice Brown look like big holders of $PCHM. My guess is they either want to push for a sale of Pharmchem or want better representation on the board.

I don't mind what the current board has accomplished so far :) but they are getting far into retirement range. Ages 76, 86, and 78... Putting some younger blood on there is a decent idea.

Shareholder letter PCHM 6 months ending 6/30/21

https://backend.otcmarkets.com/otcapi/company/financial-report/292961/content

Proxy materials July 2021


https://backend.otcmarkets.com/otcapi/company/financial-report/292960/content

Shareholder letter Q2 2021 Cedar Creek Partners


https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/60ff132be4393a557cbfa185/1627329324220/Q2+2021Results+for+Cedar+Creek+Partners+corrected.pdf

Q1 Shareholder letter Cedar Creek Partners

https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6090ae79e8c9d0715bdbb1d2/1620094586126/Q1+2021Results+for+Cedar+Creek+Partners.pdf

I recommend investors visit the ericksen capital / cedar creeks website.

Within, there is corrected q2 2021 commentary, They discuss their positions on PCHM management.

For managements view, see otc markets, and read the proxy statement.

A shareholder letter came out today. It is on the company website and on OTC markets.

Old posts on Cedar Creek Partners.

From LMLYP on the Top Gainer board

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158984926

I guess they did buy a few shares more than I was joking about.

And from Deet post 2876 on the PCHM message board

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=159095918

https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f85eb7289085d67fca99c88/1602612084148/Q3+2020+Results+for+Cedar+Creek+Partners.pdf

Their are comments on PCHM from them.

Nice!! Actually a very shareholder friendly move when looking at the recent posts on this board :D