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Tempted to by Fountain Stock at this price

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Old 02-18-2009, 04:11 PM
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Open: 0.10 Mkt Cap: 327,089.00 P/E: - Dividend: -
High: 0.12 52Wk High: 1.93 F P/E: - Yield: -
Low: 0.05 52Wk Low: 0.05 Beta: 1.92 Shares: 4.36M
Vol: 33,600.00 Avg Vol: 4,000.00 EPS: -1.10 Inst. Own: 4%


wow actually hit $0.05 today

at what point does it turn turtle
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Old 02-18-2009, 04:49 PM
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so that means all the outstanding shares could be bought for roughly $2.5MM??
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Old 02-18-2009, 05:32 PM
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With the Miami show over and still no word about how they did I would say its not real good. In the past they were the first to jump on here and tell the world that they sold millions at the show. Nothing so far this year.
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Old 02-18-2009, 05:57 PM
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that sucks I hope sold some, what about fannie mae is at 60 cents and king obama is throwing money into the to sell to the morons that have refinanced with zero down and have 1st 2nd and 3rds so I GOING TO LOOK INTO BUYING A 1000 shares for 600 plus in the morning
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Old 02-18-2009, 05:58 PM
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Quote:
Originally Posted by DollaBill View Post
so that means all the outstanding shares could be bought for roughly $2.5MM??

I had started a thread along time ago about getting a free fountain and thae jist of it was next 10 guys who wanted to buy one just bought stock took companyy ovr anf gave themselves a company boat

that number is much less now


Fountain Powerboat Industries. FPWB (OTHER OTC)
$0.08Change:-0.04 -37.50%
Shares Out:
4.36M
Market Cap:
$327,075.00

to bad debt is so high would be a good buy at 400k for control maybe depending on how much Reggie has of company
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Old 02-18-2009, 07:32 PM
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Quote-"so that means all the outstanding shares could be bought for roughly $2.5MM??"

No. 4,360,000 x .05= $ 348,800
But you probably can't buy it all. Last time I checked in November, Reggie owned about 52% of the outstanding shares so you would have to get him to sell some of his to own more than half.

Quote- "Help me understand, if you own Stock, how can someone take it private and you loose?? I am not a Stock analyst so please educate me.

If a company goes into bankruptcy liquidation(not bankruptcy reorganization, which is different) all the assets are sold off to pay off the creditors. If the assets are worth less than the debt, the shareholders get nothing.
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Old 02-18-2009, 08:36 PM
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Efforts to buy a significant interest require special SEC filings, and what do you end up with; a company whose balance sheet is a complete disaster. The only thing that helps it somewhat and keeps it moderately attractive is their heavy PPE numbers.

That ST debt figure is ugly. That's a huge nut sitting out there for their creditor's to call. Skullkrusher is right - depending on the nature of the debt a worse case scenario is the company could be forced into Chapter 7 (liquidation) and be forced to sell assets and in the end shareholders would most likely get 0 (based on the B/S).

I think that weathering the storm is going to take a company who went in with a strong balance sheet. Fountain didn't do that so hopefully they can have a strong spring, and convince their creditors to work with them.
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Old 02-18-2009, 08:43 PM
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Reggie isnt an idiot so I believe that the way he has everything structured he will have leverage to work with his creditors......
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Old 02-18-2009, 08:48 PM
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The ST debt was ugly a long time ago. Kinda makes Reggie look like an idiot in a helicopter doing PR videos. $23 "million" in six months. Doesn't make me feel all warm and fuzzy over having him spend big bucks, while sales plunge 61%.
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Old 02-18-2009, 08:52 PM
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Quote:
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Reggie isnt an idiot so I believe that the way he has everything structured he will have leverage to work with his creditors......
Yep - you can tell just from looking back at the last few statements that they are working with him.....

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Originally Posted by VtSteve View Post
The ST debt was ugly a long time ago. Kinda makes Reggie look like an idiot in a helicopter doing PR videos. $23 "million" in six months. Doesn't make me feel all warm and fuzzy over having him spend big bucks, while sales plunge 61%.
You do have to wonder when they get worried. I would want my money back, but the marketing/PR stuff is all part of maintaining an ongoing business, so there are definitely 2 sides to that coin....
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