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Hall and Crew Getting Poorer And More New!!

tgilliamstgilliams Posts: 1,969
in U.S. Coin Forum
CU Stock trading at $2.06-a true Penny Stock. With the firing of Bowers and crew, I see stock dipping below $1. Whole thing handed like an amaturer. See NGC Forum for Bowers Reply. Looks like it was ugly. Luckily most CU stock owned by insiders. Their credibility went down the tubes. Watch NASD you'll see a large drop to under $1. If you own the few outstanding shares dump now. Montgomery move was begininng of end, now Bowers, what are they thinking? Very Bad business decision IMHO.

UPDATE FROM Q. DAVID BOWERS

Dave Bowers writes: "I am writing to state that I am
overwhelmed and amazed by the calls and e-mails I have
received regarding the sudden termination of my employment
by the new CEO (Michael Haynes) of Collectors Universe,
who arrived on the job on January 1. I have had offers of
money, assistance, help with moving, loans of books, and even
lodging—you name it! I never expected to have such an
outpouring from many of the largest “names” in numismatics,
including quite a few competitors! Indeed, my e-mail file from
well-wishers could well form a nucleus for a book, “Who’s
Who in American Numismatics.” All of this is inspiring and
wonderful to me, and I am extremely grateful. Please pass
my appreciation along to the many NBS members who have
been a part.

As mentioned in my earlier note to you, my research and
writing should be okay in the future — except that my library
of thousands of items is packed in two hastily rented premises,
and it will be some time until I can sort everything out and
determine my legal options. All of this happened unexpectedly
and, as you might expect, has caused many sleepless nights.
Ditto for my other top staffers, Christine Karstedt and John
Babalis.

My spirit and my enthusiasm for numismatics and the people
in it are as bright as ever. I do not yet have a business identity
or telephone, but my contact information is:

Q. David Bowers
P.O. Box 539
Wolfeboro Falls, NH 03896-0539
e-mail: qdbarchive@metrocast.net



PCGS sets under The Thomas Collections. Modern Commemoratives @ NGC under "One Coin at a Time". USMC Active 1966 thru 1970" The real War.

Comments

  • critocrito Posts: 1,735 ✭
    "Hall and Crew Getting Poorer"

    So is everyone else, except the politicians on Capitol Hill, who gave themselves a raise recently image and while I don't know the specifics of the shakeup, I do know what it's like to work in a place where everyone thinks they're the boss image not much gets done.
  • MrEurekaMrEureka Posts: 24,330 ✭✭✭✭✭
    Looks like the last trade was $2.80. Where did you find the $2.06?

    Anyway, at $1 a share, the company would be worth $6 million. They have $5 million in cash and a pile of inventory and receivables, plus some companies with good earnings potential. Yes, it's bad that QDB is gone, but I'll be a buyer long before the stock hits a buck.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • PlacidPlacid Posts: 11,299 ✭✭✭
    Just the facts please.
  • BarryBarry Posts: 10,100 ✭✭✭


    << <i> See NGC Forum for Bowers Reply. >>


    Can you post a link? Lots of stuff there to search and find it. Thanks.
  • tradedollarnuttradedollarnut Posts: 20,162 ✭✭✭✭✭
    Fact: Stock is at $2.80
    Fact: Tangible net worth (throw out goodwill and deferred taxes) exceeds $3 per share
    Fact: Insiders control the company

    Opinion: The reason the stock is trading for less than tangible net worth/share is because the company has shown an inability or unwillingness to cut its losses. At $1.5M loss per quarter, it is losing 25 cents per quarter in net tangible worth. I would absolutely pay a pretty premium to own PCGS. However, you can't just buy PCGS - you also have to buy the other divisions, the corporate overhead, the remnants of B&M and the insider control.
    Early Dollar Set
  • wondercoinwondercoin Posts: 16,982 ✭✭✭✭✭
    "I would absolutely pay a pretty premium to own PCGS."

    TDN: Get in line with us all image

    I am a bit concerned though about delayed turnaround times as others are, as it not only results in a loss of additional submissions and makes submitters unhappy, but also results in a number of coins being graded for free or at reduced rates.


    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • sinin1sinin1 Posts: 7,500 ✭
    trade dollar -> maybe you should present a CASH offer of $10 million to the CU board for only PCGS
  • tradedollarnuttradedollarnut Posts: 20,162 ✭✭✭✭✭
    It would not be accepted. Without PCGS, CU would cease to exist. It is (almost) paying the bills for all the other divisions and corporate overhead.
    Early Dollar Set
  • PlacidPlacid Posts: 11,299 ✭✭✭


    << <i>

    << <i> See NGC Forum for Bowers Reply. >>


    Can you post a link? Lots of stuff there to search and find it. Thanks. >>



    Link
    Please note Mr. Bowers did not post anything himself just what others claim he said aka hearsay.
  • AndroidAndroid Posts: 726 ✭
    Let's not forget that CLCT recently had a REVERSE stock split of 4-1. The stock was 70 cents a share before this happened. This reverse split had to occur so CLCT could stay listed with NASDAQ.


    Andy image
    We are finite beings, limited in all our powers, and, hence, our conclusions are not only relative, but they should ever be held subject to correction. Positive assurance is unattainable. The dogmatist is the only one who claims to possess absolute certainty.

    First POTD 9/19/05!!

  • wallstreetmanwallstreetman Posts: 2,938 ✭
    If the stock didnt sink on reverse split, thats very BULLISH!
    You can fool man but you can't fool God! He knows why you do what you do!
  • wallstreetmanwallstreetman Posts: 2,938 ✭
    How much was the stock before the news of a reverse split?
    You can fool man but you can't fool God! He knows why you do what you do!
  • ANACONDAANACONDA Posts: 4,692 ✭
    With regard to Dave Bowers....in my book, he is right behind David Hall as most influential person on numismatics in the past 50 years

    however, notwithstanding that fact.....

    it may be that Mr. Bowers was costing the company more money than he was generating. Companies that are losing money are always looking for a way to cut expenses and without knowing what he costs and what he has been generating, you really can't decide whether jettisoning (that was for you, GSAguy) him was a wise or unwise move.

    But what do i know???.......

    adrian, BBA, MBA, JD
  • orevilleoreville Posts: 12,072 ✭✭✭✭✭
    ANACONDA:



    << <i>But what do i know???....... >>



    Well what the heck, I share your sentiment as it applies to myself even with my call letters.

    oreville, BS, MBA, CPA, CFE, CTE
    A Collectors Universe poster since 1997!
  • ANACONDAANACONDA Posts: 4,692 ✭
    Wow! I've been one upped....no make that two upped!
  • orevilleoreville Posts: 12,072 ✭✭✭✭✭
    Anaconda:........ oops before I forget.......also ANA LM. image
    A Collectors Universe poster since 1997!
  • TrimeTrime Posts: 1,863 ✭✭✭
    Long ago I was advised never to buy a stock on a reverse split.
    Those of you standing in line to buy CU, there is no line; go for it!
    Trime
  • AbesNeighborAbesNeighbor Posts: 705
    In a situation like this, There is ALWAYS two sides to the story and you never hear 100% of either side.



    (AS I get older, I continue to have trouble spelling and using proper verb tenses)
  • ANACONDAANACONDA Posts: 4,692 ✭
    "In a situation like this, There is ALWAYS two sides to the story and you never hear 100% of either side."

    Man, that is so true.

    adrian
  • LakesammmanLakesammman Posts: 17,413 ✭✭✭✭✭
    Agree.

    Lakesammman EI EI O
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • SarasotaFrankSarasotaFrank Posts: 1,625 ✭✭


    << <i>If the stock didnt sink on reverse split, thats very BULLISH! >>



    surprising, however, sinec most of it is controlled by insiders, the question is not so much where is the price, but what is the volume?

    I would think that if a block of any size were to hit, that price might have some trouble.
    "I want to die peacefully in my sleep like my Grandfather did, as opposed to screaming in terror like his passengers."

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