TSXV:NYX.DB - Post by User
Comment by
stocksnbondson May 06, 2017 7:32pm
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Post# 26213007
RE:Hass on BNN - Standard Hass Comment
RE:Hass on BNN - Standard Hass CommentHaas was very clear on BNN after he sold. He was assured by Davey that there would not be another PP to dilute shares. Davey went out and did a tuck in acquisition contrary to his previous statement to Haas. If I'm not mistaken, the company purchased had all its goodwill just written-off the books as they only had one major licensee and the licensee left.
There's a credibility issue with Davey among investment community institutions. Just look at the 1.20 target by one of the analysts. The finger is pointing to debt, high costs and inability to believe in management. I've been saying the same for 8 months. Davey needs to perform by meeting financial targets. He hasn't given a cr@p as he's untouchable in his position. He controls a sizeable minority of outstanding shares and has a total grip on the BOD.
The only thing that will move him is if there's a scandal (Baazov) or if he realizes he's losing money himself quarter after quarter. He's purchasing more shares but like us, it's akin to dollar cost averaging downward.
Thanks to Stockmaster-- seems even the optimistic analysts only see a turnaround in share price towards the end of year. The key now are the August and November numbers as we basically know the Q1 data except for EBITDA margins.
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