Trading Summary - August 30. A pivotal day for
Post# of 2306
(Total Views: 479)
Posted On: 08/30/2019 8:57:48 PM
Trading Summary - August 30.
A pivotal day for $TMPS with the discovery of the reason the DoD intends to cancel the existing $121M contract despite the denial of both Omega protests. In any event, no cancellation notice has yet appeared on the DoD Contract Daily List as a Correction.
Today, on August 30, 2019, the US Navy issued a "Special Notice" for a Contracted Air Services (CAS) Air to Air Refueling (AAR) Services Industry Day to be held on September 12, 2019.
https://www.fbo.gov/index.php?s=opportunity&a...p;_cview=0
The US Navy is now considering an Indefinite Delivery / Indefinite Quantity (ID/IQ) Multiple Award Contract (MAC).
The resulting ID/IQ MAC will have one 5-year base ordering period and one 5-year option period for a total ordering period of 10 years,
In short this means the DoD would consider awarding a contract to 2 or more providers (for instance $TMPS and Omega) to provide AAR on an "on call as required" basis with payment made on fuel delivered with no top limit.
The value of this contract - if proceeded with - would be way more than $121M as it would be for twice the period and the $TMPS Tristar tanker fleet has a 2:1 fuel capacity offload advantage over Omega's mixed smaller fleet and reduced operating costs / increased profit margin due to less aircraft maintenance cycles for a given fuel offload quantity.
The purpose of the Industry Day is to provide industry with the opportunity to review the proposed DRAFT CAS Aerial Refueling Services Performance Work Statement (PWS) and for NAVAIR to have a two-way dialogue with potential providers regarding concerns, suggestions and comments.
Immediately this information became known and for the rest of the trading session:
- The ask was hit and - as reported contemporaneously - MMs were unable to immediately fill buy orders for the shares shown as offered - presumably due to previous naked shorting on paint downs. Eventually my buy orders were filled after several minutes.
- Some higher asks were cancelled.
- The bid at .1220 was increased to 14K.
- Traders starting out bidding each other at .1230 up to .1250.
- After a hidden bid fill at .1390, all fake undercut asks at .1400 which had been walked down from the .1425 shown yesterday, were cancelled.
- One of the bidders broke ranks and hit the ask at .1450 - followed by others.
Overall, another 27,485 shares were bought today - similar to the 26,496 shares that were bought yesterday - but at higher prices with a higher proportion of ask hits today.
Breakdown of buys by price band was as follows:
.1450: 8,600
.1430: 3,750
.1390: 5,500
.1385: 4,135
.1358: 5,000
.1342: 500
Compared to yesterday buys:
1400 > .1425: 1,500
.1350: 10,029
.1300 > .1338: 7,025
. 1220 > .1299: 7,942
I will be producing a brief on this major development over the holiday before the market open on Tuesday.
A pivotal day for $TMPS with the discovery of the reason the DoD intends to cancel the existing $121M contract despite the denial of both Omega protests. In any event, no cancellation notice has yet appeared on the DoD Contract Daily List as a Correction.
Today, on August 30, 2019, the US Navy issued a "Special Notice" for a Contracted Air Services (CAS) Air to Air Refueling (AAR) Services Industry Day to be held on September 12, 2019.
https://www.fbo.gov/index.php?s=opportunity&a...p;_cview=0
The US Navy is now considering an Indefinite Delivery / Indefinite Quantity (ID/IQ) Multiple Award Contract (MAC).
The resulting ID/IQ MAC will have one 5-year base ordering period and one 5-year option period for a total ordering period of 10 years,
In short this means the DoD would consider awarding a contract to 2 or more providers (for instance $TMPS and Omega) to provide AAR on an "on call as required" basis with payment made on fuel delivered with no top limit.
The value of this contract - if proceeded with - would be way more than $121M as it would be for twice the period and the $TMPS Tristar tanker fleet has a 2:1 fuel capacity offload advantage over Omega's mixed smaller fleet and reduced operating costs / increased profit margin due to less aircraft maintenance cycles for a given fuel offload quantity.
The purpose of the Industry Day is to provide industry with the opportunity to review the proposed DRAFT CAS Aerial Refueling Services Performance Work Statement (PWS) and for NAVAIR to have a two-way dialogue with potential providers regarding concerns, suggestions and comments.
Immediately this information became known and for the rest of the trading session:
- The ask was hit and - as reported contemporaneously - MMs were unable to immediately fill buy orders for the shares shown as offered - presumably due to previous naked shorting on paint downs. Eventually my buy orders were filled after several minutes.
- Some higher asks were cancelled.
- The bid at .1220 was increased to 14K.
- Traders starting out bidding each other at .1230 up to .1250.
- After a hidden bid fill at .1390, all fake undercut asks at .1400 which had been walked down from the .1425 shown yesterday, were cancelled.
- One of the bidders broke ranks and hit the ask at .1450 - followed by others.
Overall, another 27,485 shares were bought today - similar to the 26,496 shares that were bought yesterday - but at higher prices with a higher proportion of ask hits today.
Breakdown of buys by price band was as follows:
.1450: 8,600
.1430: 3,750
.1390: 5,500
.1385: 4,135
.1358: 5,000
.1342: 500
Compared to yesterday buys:
1400 > .1425: 1,500
.1350: 10,029
.1300 > .1338: 7,025
. 1220 > .1299: 7,942
I will be producing a brief on this major development over the holiday before the market open on Tuesday.
(1)
(0)Tempus Applied Solutions Holdings, Inc. (TMPS) Stock Research Links
"Per Ardua Ad Astra" - "Through Adversity To The Stars"
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.