Posted On: 08/05/2016 12:55:26 PM
Post# of 22940
Hi, hope you're having a great Friday! I received response last night to a couple of additional questions I had following the CC last week:
On Thu, Aug 04, 2016 at 07:11 PM, TPAC IR Specialist wrote:
Forwarded on behalf of IR BDG Manager.
*********************************************************************
Greetings xxxxxxx
My sincere apologies for the late response.
TPAC Share Structure.
First let’s move away from the idea of dilution.
The USA FR placed a block on the passing of new preferred offerings 60 days ago until the end of 2016.
All preferred shares have a base restriction of 6 months before they can be converted to common. So if there were any true dilution taking place today it would have to come from any preferred shares prior to reconstruction and IR does not have information on that time period before the reconstruction. Many shareholders are quoting large numbers however from what is reported from the transfer agent looking from May to July there has been a 2.487 percent change (87M) in the O/S.
The questions that everyone should be asking is will TPAC begin a program to recall shares and how and when will it go into effect. Right now it is too premature to state. It’s been reported that the USA FR has stated no buy backs through 2016. As TPAC builds its cash-on-hand from retained earnings, (not revenue figures) which won’t be fully realized until third quarter of 2017, I don’t think we will hear much about this subject before then.
.01
TPAC‘s OTC target market price per share at present remains .01 however fourth quarter retain earnings report will clearly identify if that is going to be revised. TPACs Export Division is hammering away at several prospects with a high dollar earning even higher than the full amount of the SLA. So for right now the target is .01. TPAC still has a very high COB (cost of business) to contend with.
To sum it up:
1)Preferred shares are blocked in 2016 except for deal structures that secure the financial stability for forward movement (meaning scenarios like floor planning for inventory procurement)
2) No buy backs or share reduction plans in 2016
3) End of 2016 target mpps at present .01; will report changes if applicable closer to final quarter of the year.
Thank you.
James
IR - Business Development Group Manager
TPAC IR Specialist
ir@tpacbearings.com
_____________________________________________________________
This is what I had asked right after the conference call:
If I might ask two more questions... would you please address the share structure of TPAC in terms of needed dilution or expansion and how that might happen if necessary including a time frame? Also, are we still on target to .01 pps by end of year?
On Thu, Aug 04, 2016 at 07:11 PM, TPAC IR Specialist wrote:
Forwarded on behalf of IR BDG Manager.
*********************************************************************
Greetings xxxxxxx
My sincere apologies for the late response.
TPAC Share Structure.
First let’s move away from the idea of dilution.
The USA FR placed a block on the passing of new preferred offerings 60 days ago until the end of 2016.
All preferred shares have a base restriction of 6 months before they can be converted to common. So if there were any true dilution taking place today it would have to come from any preferred shares prior to reconstruction and IR does not have information on that time period before the reconstruction. Many shareholders are quoting large numbers however from what is reported from the transfer agent looking from May to July there has been a 2.487 percent change (87M) in the O/S.
The questions that everyone should be asking is will TPAC begin a program to recall shares and how and when will it go into effect. Right now it is too premature to state. It’s been reported that the USA FR has stated no buy backs through 2016. As TPAC builds its cash-on-hand from retained earnings, (not revenue figures) which won’t be fully realized until third quarter of 2017, I don’t think we will hear much about this subject before then.
.01
TPAC‘s OTC target market price per share at present remains .01 however fourth quarter retain earnings report will clearly identify if that is going to be revised. TPACs Export Division is hammering away at several prospects with a high dollar earning even higher than the full amount of the SLA. So for right now the target is .01. TPAC still has a very high COB (cost of business) to contend with.
To sum it up:
1)Preferred shares are blocked in 2016 except for deal structures that secure the financial stability for forward movement (meaning scenarios like floor planning for inventory procurement)
2) No buy backs or share reduction plans in 2016
3) End of 2016 target mpps at present .01; will report changes if applicable closer to final quarter of the year.
Thank you.
James
IR - Business Development Group Manager
TPAC IR Specialist
ir@tpacbearings.com
_____________________________________________________________
This is what I had asked right after the conference call:
If I might ask two more questions... would you please address the share structure of TPAC in terms of needed dilution or expansion and how that might happen if necessary including a time frame? Also, are we still on target to .01 pps by end of year?
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