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How sound is Reggie financially?

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Old 06-18-2008, 12:53 AM
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Default How sound is Reggie financially?

http://biz.yahoo.com/e/080617/fpb8-k.html

Reggie is getting de listed from Amex.

Taken in part from the above:
"Amex noted that, for the quarter ended March 31, 2008, we reported a working capital deficit of approximately $16.8 million, operating loss of approximately $1.7 million, and net loss of approximately $2.0 million. Amex also noted that, as we have previously reported, we are not in compliance with covenants contained in our $14.5 million term loan which sets forth minimum earnings before interest, taxes, depreciation and amortization, that we have been operating under a waiver from our lender which expires on June 30, 2008, and that, if by that time we are not able to comply with the loan covenants or obtain an additional waiver, the lender will have a right to foreclose on our assets."

I'm not expressing any opinion here one way or the other,
just posting some intriguing information. And lots of food
for speculation

Pesky Varmint
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Old 06-18-2008, 01:27 AM
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I'm sure ol' Reg is fine financially.

His company?

That's a good question.
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Old 06-18-2008, 08:57 AM
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The shares have been moving steadily downward towards $1.00/share for the past year.... Many days were marked by very small transactions from a few hundred to a few thousand shares (total transactions of $600-$700 up to $3500-$5000...not exactly high finance).

The sad thing is that any boat or recreation company today is facing a "Perfect Storm" of reluctant lenders, high fuel prices, and pseudo tree hugging "carbon footprint" drivel. If Fountain or any boat/recreation company can't last until the election, it doesn't look good.

Why he is wasting the money on efforts like "Cat Killer" and racing against himself on various circuits is beyond me. If I were him, I would concentrate solely on the P-1 circuit for Worldwide marketing....and up scale fishing boats...where the money is.

But, fortunately, I'm not.....

T2x

Last edited by T2x; 06-18-2008 at 11:23 AM.
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Old 06-18-2008, 09:02 AM
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Originally Posted by T2x View Post
As of this AM the stock symbol no longer registers on the Wall street Journal website. The shares have been moving steadily downward towards $1.00/share for the past year...and it appears that they cannot sustain above that number. Each day was marked by very small transactions from a few hundred to a few thousand shares (total transactions of $600-$700 up to $3500-$5000...not exactly high finance).

The sad thing is that any boat or recreation company today is facing a "Perfect Storm" of reluctant lenders, high fuel prices, and pseudo tree hugging "carbon footprint" drivel. If Fountain or any boat/recreation company can't last until the election, it doesn't look good.

Why he is wasting the money on efforts like "Cat Killer" and racing against himself on various circuits is beyond me. If I were him, I would concentrate solely on the P-1 circuit for Worldwide marketing....and up scale fishing boats...where the money is.

But, fortunately, I'm not.....

T2x
If you were suddenly Reggie you would have to go sweatsuit, gold chain, and wig shopping, thus lowering your net worth as well.

Last edited by Knot 4 Me; 06-18-2008 at 09:04 AM.
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Old 06-18-2008, 09:10 AM
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If you were suddenly Reggie you would have to go sweatsuit, gold chain, and wig shopping, thus lowering your net worth as well.
How much is a wig these days anyway?
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Old 06-18-2008, 09:23 AM
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[QUOTE=T2x;2593520] racing against himself on various circuits is beyond me.

Somebodys gotta WIN !!!!!!!!!!!!!!
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Old 06-18-2008, 09:25 AM
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Originally Posted by Knot 4 Me View Post
If you were suddenly Reggie you would have to go sweatsuit, gold chain, and wig shopping, thus lowering your net worth as well.
LOL, so true.
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Old 06-18-2008, 09:45 AM
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Like him or Not. If Fountain were to go belly up, it would be a sad day for the performance boating community.
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Old 06-18-2008, 10:00 AM
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Reggie is just fine. Fountain Powerboats on the other hand who knows...
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Old 06-18-2008, 10:01 AM
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If Fountain bounces then you can rest assured others will become memories as well. Fountain/Baja would be a hit, don't forget Black Thunder. These are old companies that have been through the highs/lows of the boat market before.

Cigarette has been on the ropes several times through the years (as recently as the late 90's) and the list of owners but they have been brought back to life.

This style of boating is hard on the wallet so the industry will definitely feel the pinch in an economic downturn. The manufacturers, the parts vendors, the service people, the painters, trailer companies, marinas etc.
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