Q: Is there anything to be concerned about news yesterday on CSU:
'Constellation Software Announces Resignation of Ian McKinnon and Appointment of Lori O’Neill to its Board of Directors'
Just noticed a surge in the stock price today. is there something else going on here?
Q: Do you take downgrades with a grain of salt. There are constantly companies being downgraded. Does that mean if I hold a downgraded stock get rid of it because it isn't going to do much or when it goes down buy more? I hold TOY a recent downgrade and it has dropped off some - buy more, sell? Thank you very much Dennis
Q: Ryan; I see CLS has filed a form 20-F with the SEC, which is their annual report ending Dec30. Is this the usual way they do it and have you seen it and have a comment ? Thanks. Rod
I was wondering what your thoughts are on RHT given it's current price ( ~$2.22 as of today). Based on the most recent share count outstanding (81,871,000), this suggests an EV of about $180 MM for a company that is showing 6 month revenue of $1.1 MM. While I know that early stage companies are based on what the future holds, I also like to keep an eye on what EBITDA needs to be (in the future) to justify valuations. For instance, in the case of RHT, if one believes that within the next 12-24 months they can achieve EBITDA of ~ $12 MM, then this would suggest that today it is trading at a EV/EBITDA multiple of 15 based on future results. EBITDA of $12 MM in turn is achievable if they can hit ~ $20.5 MM in gross revenue with a 78% gross margin (as per most recent financials) and no increase in cash expenses of $4.0 MM annually, as 6 month financials suggest ~ $2.0 MM in cash expenses. In short, does your modelling of RHT suggest/indicate that this is a realistic expectation, and that within the 12-24 month time frame they can reach ~ $20 MM in gross revenue with no margin compression and no increase in cash G&A costs ?
Q: Not much had been discussed about PKI over the last little while. Please provide an update on the company and its growth prospects, and if possible, how well it ranks in the BE portfolio. Have 2% and thinking of upping to 3.5%
Thank you
Karlm
I received a notice of a tender offer for ECN shares. The offer advises that existing shareholders can participate by specifying a price between $3.49 to $3.90 per share as a Dutch auction. Can you clarify how this sort of thing typically works, versus just buying at the market price? I'm wondering if this is a good deal for existing shareholders. As of me writing this, the share price is $3.71.
Q: There was a report today on BNN about fraud in the automobile body shop business. It was admittedly a very limited 'sting' operation by Aviva but a disconcerting one nonetheless. I could not find any further detail on the Aviva website as to the body shops involved and I was wondering if you could find this information and, more specifically, whether any of them are part of the Boyd Group operation?
Q: Good Morning,
Can I please have your opinion on the merger announced this morning? I'm not familiar with Grenville? Any thoughts on this going forward would be greatly appreciated.
Thanks
Q: Could you please provide estimates for Stella Jones. SJ also provided preliminary numbers, recently. Do you expect any significant changes, when they release the quarterly results on March 14 ? I am waiting to add to my position. Thanks
Q: I checked out Trevali Mining at the PDAC conference this week and noticed that it has over 800 million shares outstanding. Do you think this is a concern in the sense that they might decide to consolidate at some point. Also could you provide the fully diluted number of shares as well as recent insider activity and overall ownership. Thanks.