tag:blogger.com,1999:blog-754894216207950592.post6919307925985737756..comments2024-03-17T20:17:54.833-07:00Comments on NoNameStocks: PCYN is a Buy and Here's WhyDan Schumhttp://www.blogger.com/profile/05728696891530868697noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-754894216207950592.post-71007103080709817972018-12-18T12:01:44.053-08:002018-12-18T12:01:44.053-08:00I don't know for sure. Perhaps that's jus...I don't know for sure. Perhaps that's just where the founders were located when they started the company in 1987? The Andersons, who control the company now, took over in 1994 and bought Amerx 1996. Amerx was already located in Florida. <br /><br />You can read more of the history in their 1996 10KSB here: https://www.sec.gov/Archives/edgar/data/812306/0001000096-96-000355.txtDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-28873163338628410932018-12-18T11:27:59.317-08:002018-12-18T11:27:59.317-08:00I noticed they're incorporated in Colorado, wh...I noticed they're incorporated in Colorado, which I thought was strange. One thing I look for with potential frauds is companies incorporated in Nevada but not located there. Have never seen a company incorporated but not located in Colorado though. Any insights? That fact is somewhat suspicious to me. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-48797171816820420352018-09-02T10:09:33.335-07:002018-09-02T10:09:33.335-07:00In the spirit of sharing information from other me...In the spirit of sharing information from other message boards, person on Ihub noted the following positive signs: <br /><br />"<br />1) the insider purchase of 17000 shares @ .16 <br /><br />2) The potential ramifications of the last 8k. <br /><br />Why are they relocating to a LARGER FACILITY? <br /><br />The Lease relates to the following leasehold premises: Approximately 3,220 square feet consisting of 2,380 square feet of air conditioned office space and 840 square feet of non-air conditioned warehouse space located at 13100 56 th Court, Suite 702, Clearwater, FL 33760. <br /><br />Tenant shall be relocating to approximately 4,892 square feet consisting of 800 square feet of air conditioned office space, 2,446 square feet of non air conditioned warehouse space, and 1,646 square feet of air conditioned warehouse space located at 13101 56 th Court, Suite s 805-806 , Clearwater, FL 33760 . <br />"Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-53522494492405512932018-08-31T10:58:45.944-07:002018-08-31T10:58:45.944-07:00An anonymous poster is slandering me over at Corne...An anonymous poster is slandering me over at CornerOfBerkshireAndFairfax as a stock pumper. Maybe I didn't discuss risk enough in this post. Just thought I'd put up their identified risks here. http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/on-stock-blogs-or-when-to-look-a-gift-horse-in-the-mouth/<br /><br />"<br />1) The Roy M Speer Foundation owns nearly 20% of the outstanding shares. The Speer Foundation (or related entities and individuals) have owned these shares since at least 2000. Given that the foundation is located just up the road from the company's HQ, it's pretty safe to assume that it's an ally of the controlling Anderson Family. This means insiders + allies probably control nearly 70% of the voting power.<br /><br />2) Contra the blog's claim that the company has "a couple of decades of solid performance" under its belt, shareholders' equity has barely budged over the last decade. <br /><br />2008 FY: $1.985 million<br />2010 FY: $2.133 million<br />2017 FY: $2.287 million<br /><br />3) Perhaps most egregiously, the company has some "Series A Cumulative Convertible Preferred Stock" outstanding. Here's a quote from the most recent 10-K: <br /><br />"Dividends in arrears on the outstanding preferred shares total $357,426 or approximately $2.02 per share as of June 30, 2017. So long as any shares of Series A Preferred Stock are outstanding, the Company is prohibited from declaring dividends or other distributions related to its Common Stock or purchasing, redeeming or otherwise acquiring any of the Common Stock."<br /><br />The company appears to be unwilling to pay the preferred stock dividends. Why? It's simple: this company is run for the sole benefit of insiders, and insiders don't own any of the preferred stock. <br /><br />4) Finally, while mentioning that the "youngest Anderson on the board is only 40" the blog neglects to mention that this person (Justice W Anderson) was just appointed CEO less than one year ago! This is exactly what we would expect to see in a family company that isn't for sale: the next generation taking the reigns.<br /><br />the free float of the stock in question at a $0.18 per share price was something like $450,000. I think that's important in the context of thinking about this situation.<br />" Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-69659763768915309302018-08-30T08:47:18.205-07:002018-08-30T08:47:18.205-07:00Nice find Dan,
It looks like PCYN has strong ups...Nice find Dan,<br /><br /><br />It looks like PCYN has strong upside potential with good downside protection. Not only do you have the real estate but you've got the cash & equivalents, receivables, inventory and prepaid expenses. It's always good to know there's some liquid assets to act as floor on the share price.<br /><br />I look forward to seeing how this plays out.<br /><br />Regards,<br /><br />Daviddavid@elementaryvalue.comhttps://www.blogger.com/profile/17740644104181648493noreply@blogger.com