VistaViewer
15年前
rjviking, "...now might be a good time ..."
Yeah, all stocks and markets move in cycles. So it MUST go down now so it CAN go up later. UP-DOWN, up-down... endless cycle.
I too, got caught up in the pump and hype about their successful clothing lines, etc. It all seemed so real at the time. Now I'm feeling a little like "I got played!", just like so many other times. It is just the "nature of the beast". I always knew this is a very risky investment.
My view is this one will eventually bottom out and then trend sideways for a while, maybe (my guess) up to two years. Then all of a sudden, it will take off again, and within a few days it will be UP (my guess) 700% etc. I'm sure we've all seen this phenomenon before. That's why we're here.
So I guess it all boils down to whether individual shareholders will stick around and suffer dead money for a while. OR see the long term potential here and view it as a Sector Play that will grow as the consumer resumes spending. Whenever that will be! I believe this is a more constructive way to view this, in order to convince myself there is justification to hold on for a while longer. Because basically, I just don't want to take the loss.
I have a moderately small position here so I don't have TOO much skin in the game. I can handle this level of financial risk. But my position is now DOWN 81% and I don't like that at all.
At some point I will average down when the PPS gets really cheap. I expect my number of shares will increase by 10X. Then I will just wait patiently for the situation to come around again. I will give this two years to produce an ROI.
Patience will be Rewarded! and Good Luck to All Longs...
VV
VistaViewer
15年前
Still curious why we haven't lost the "E" and gone pink.
Found this link on another forum, which shows Panglobal's current status as "pending decision".
http://otcbb.com/DailyListContent/delistings/OTCBB_Eligibility_Status_Report.pdf
And here's the factors that determine strikes and subsequent OTCBB eligibility...
http://www.otcbb.com/faqs/otcbb_faq.stm
22.How does FINRA determine whether an OTCBB issuer’s periodic financial report was filed timely?
For the purpose of determining the extent to which an issuer has filed its periodic financial reports in a timely fashion or has filed its periodic financial reports within the applicable grace period (in the case of an issuer that did not meet the initial filing deadline), the periodic financial report in question must have been received and time stamped by the Commission’s EDGAR system no later than 5:30 p.m. EST on the day the report was due or the last day of the applicable grace period. For the purpose of determining an issuer’s eligibility for quotation on the OTCBB, no exceptions to the 5:30 p.m. EST cut off will be made absent the existence of extraordinary circumstances in the sole discretion of SEC staff.
Initial Filing Deadline Delinquency Example: An OTCBB issuer that fails to file a periodic financial report on the day it is due by 5:30 p.m. EST receives a “strike,” even if the filing is made on the following day. If such a “strike” is the issuer’s third, the issuer will be removed form the OTCBB. A hearing request will stay the removal of the issuer’s securities from the OTCBB, pending the Hearing Officer’s decision, but only if it is accompanied by evidence / receipt of a wire transfer in the amount of $4,000. The stay of removal pending the Hearing Officer’s decision will not provide the issuer with additional time in which to cure ineligibility, if the issuer was, in fact, delinquent at the time that the filing was due.
Grace Period Filing Deadline Delinquency Example: An OTCBB issuer that fails to file a periodic financial report on the day it is due and then subsequently fails to file the periodic financial report by 5:30 p.m. EST on the last day of the applicable grace period (in the case of a first or second “strike”) will be removed from the OTCBB. A hearing request will stay the removal of the issuer’s securities from the OTCBB, pending the Hearing Officer’s decision, but only if it is accompanied by evidence / receipt of a wire transfer in the amount of $4,000. The stay of removal pending the Hearing Officer’s decision will not provide the issuer with additional time in which to cure ineligibility, if the issuer was, in fact, delinquent at the end of the applicable grace period.
VV
VistaViewer
15年前
roadking56, I think they're probably doing OK selling products.
But they are a chronic "late filer". They were late filing at least three times in two years and caught the dreaded "E" twice in two weeks, just in the last month.
As a result, they were just notified by the OTCBB of their pending delisting. They were supposed to have a hearing with the OTCBB this last Friday to try to head off this delisting. But they never told us the result, good or bad.
Now today, they come out with this PR stating that they are CHOOSING to be delisted and are going to file the appropriate forms to make it happen. It really sounds like a big cop out to me. They are trying to make it look like they are actually in control. I would bet that they were going to be delisted anyway, due to their repeated inability to meet their legal obligation of filing on time. So now they're trying to "save face". Their game is pretty transparent.
There is one very peculiar passage in today's PR that tips their hand:
"Furthermore, management expects that satisfying this requirement would require a considerable increase in the workload placed on the Company’s directors, officers and consultants."
In every company that I have ever been involved in, the financial reporting and auditing, etc. is the EXCLUSIVE domain of the CFO (chief financial officer). THE CFO is a VP level position. So why in the world would they have directors and consultants involved in producing the financial filings? Don't they have centralized accounting? This is just total BS! If they were doing a proper job in accounting there would be little problem. I wonder if they have ever heard of the term "weekly trial balance".
The bottom line is that they are turning their back to the outside shareholders. I guess while they needed to sell shares to stay alive, we shareholders were pretty important. But now that they have a growing revenue stream and are becoming fairly self-sufficient, they no longer feel the need to give us anything; not even timely and accurate financial information that is legally certified. This is extremely disappointing!
As I said: "Just another Stinky Pinky!"
All just my opinion...
VV
fatherofseven
15年前
Just got off the phone with PNGB CEO Charles Lesser: My Wow is Restored! HERE'S A GUY WHO KNOWS WHAT IT TAKES TO SUCCEED, HAS A PLAN... AND DOING IT... VERY POSITIVE THINGS COMING!!
I typed, with his permission, as fast as I could...
OVERALL - BACK TO WHERE WE WERE IN REVENUE: "We're in a turn around situation... in all honesty we've streamlined expenses. We're back to where we were in revenue, will be back next quarter... focused on business... three brands, three targets, different price points... low end, medium/department, botiques... 2010 is clean-up year... 48 employees still... goal is to raise revenue without expenses, offices, systems, staff....
ON BUSINESS STRUCTURE: "We have a good structure, good people... we're over production issues... have shipping operations, consumer productions... name of game is to focus. Question 1: How do we grow top line? Not selling to any crappy stores. Real goal: how do we grow the top...
ON MARKET/PRODUCT- DRAMATICALLY BETTER...: "Market is suprisingly good... our products are dramatically better than they were 10 months ago... 2 of 3 have new designers, product is dramatically improved, only way to work is to really give your customer incredible value... one is a bargain....
"Many of stores we're in you keep hearing good things about... we're out of garbage stores, took knocks with two bankruptces [those stores, not Panglobal].... we're in JCPenny, trying to get into Kohls... looking at Sears... the only companies that go out of business are those who forget about their customer...
WEBSITE: "New and dramatically improved website is forthcoming... focussing on business is job one... "
DELISTING: He was dismayed by this possibility, particularly because "an accountant dropped the ball"... they are taking actions to avoid, but he thinks it may be unavoidable... he's not too phased by it... [I respect that they informed us all of this eventuality...].
Charles is very well-spoken, and tuned into the industry, the pulse of the market, and where Panglobal needs to be... and doing it. I recommended he have go on record through an interview, release, pod-cast (etc.)... I mentioned he gave me enough content in my little interview to cause a very favorable/positive turn in investor confidence with Panglobal. He was very receptive to that, but just so focussed on the business... I wouldn't be surprised if we don't see something very soon.
GO PNGB!!!!
Over and out.
Greg
FoS
fatherofseven
15年前
Thanks for doing that. I don't have answers, but was on the verge of doing the same tracking.... I recall someone making contact recently and Charles reporting the new website would be done soon. We're trading bottom-barrel... the recent 10-K obviously raised some flags, but it was honest, and exhibited thoughtful management intent on becoming profitable... a $10M backlog.... Someone also recently searched their products and found all positive feedback.
Obviously, we'd all be more comfortable with a clear phone-number, website, etc.... Hopefully all this simply spells re-structuring (for instance, they did indicate dropping a losing brand, which might have warranted the web-redesign...).
Can you please post the website, email, phone numbers?
fatherofseven
15年前
While scoring a sour note on the surface, for those familiar with the very positive stature of this company, history, managment, current position (etc.)... There's ALOT to like about this: (1) PNGB chose to release this... immediately conveying a propriety/concern with share holders, market cap, pps, (2) Strong language vigorously conveying their intent to "right" it....
Translation: they're alive and kicking... streamlining for success... industry-proven management... new site coming soon!
Go PNGB!
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