THE BEST POST OF THE DAY!!!!
CONGRATS jj!!
HEAR YE, HEAR YE, HEAR YE!!!...At THIS MOMENT, we really don't know much about our new, attorney, CEO. We DO KNOW:
1. Yesterday a CONTRACT, SIGNED, SEALED, AND DELIVERED for $350M in ANNUAL revs was PR'd;
2. Our new CEO comes bearing gifts of more contracts that are about to be PR'd: "With the new CEO on board, the contracts he was involved with will be announced."
3. As of 8/22/06, as per PR, the share structure remained unchanged: 800 million shares authorized with 500 million shares outstanding.
4. As of 8/9/06, a pro forma was released which stated as follows: "The pro forma estimated revenue is $307,007,451.50 and estimated net profits are $93,951,965.18." (That's a 30.6% NET...YES, NET profit margin).
5. The Cement distribution deal in the works on 8/11 wasn't even included in the pro forma, nor was the structural steel deal in the works included in the pro forma;
6. 9/5/06 the company PRs a $350M signed and sealed contract, which is in addition to the $307M pro forma rev estimates which NOW makes the estimated annual revs $657M. At a 30.6% NET profit margin, that's $201M in net profits divided by 500M O/S = $0.402 per share WITH NO MULTIPLIER!!!! Only $350M contracted for sure right now X 30.6% net profit= $107,100,000 divided by 500M O/S= $0.2142 per share. WTH are we doing trading at $0.08 per share? IT'S RIDICULOUS!!!
At least the new CEO is of middle eastern descent. Nobody better to deal with middle easterners than another middle easterner. He's bringing some contracts with him that he's negotiated, and he may have negotiated the $350M cement contract. Personally, I think all the shots are still going to be called from further up the ladder and this may just be another interim position as we go through the evolution. Does it matter? He's an attorney, and not some idiot they just pulled off the street, plus he's bringing contracts with him to be announced (per PR), possibly another $307M PLUS. Nobody said he's permanent, and nobody has proven that he shouldn't be. I'm still VERY COMFORTABLE in this position. I still see nothing but an upside in the future. The numbers speak for themselves. JMO
JJ
