Happy Friday to everyone! Writing this on Thursday night…but you get the point. I have some blog updates with a big teaser and some general thoughts I wanted to get down on a few companies.
If you haven’t yet, remember to follow me on Twitter to stay up to date. Fun fact, almost half of the people who consistently like and retweet my posts on Twitter don’t actually follow me… who knew?!
Now, on to the article.
Blog Update Teaser
I don’t want to give away too much, but I’ve been kicking the tires on some new ways to interact with the community outside of the normal “me post on blog, you read” medium. As fun as that is, I feel like there’s so much more to say that is better said in a non-blog post format.
Going along with that, I’m thinking through connecting that to a simultaneous resurrection of my Patreon. I have different ideas in mind with Patreon tiers and new content mediums, but I’m working that out.
And regarding Patreon, I will remind everyone that I do this as a hobby and it costs money for hosting, domain registration, etc. The (sometimes asinine, I see them too) ads you see on my page usually don’t cover my ongoing expenses. So it actually COSTS me money to run this blog most months. Which is cool, I’m not bankrupting myself, but support is always appreciated!
So all in all, I’d really like to branch out to some new mediums (in addition to the blog) all the while doing some cool new stuff with potential Patreon supporters. Should be fun for everybody whether you become a Patron or not!
More to come, but I’m super excited where this could go!
Buffalo Fireside Chats Video on Sunday, April 16
I tweeted this out earlier this week, but I am doing a how-to DD session on BFC’s YouTube page. We’ll run through an example annual report / 10k and I’ll go over some basics and give some tips on identifying red flags (and green(?) flags too!).
We’re covering INND as the example given it’s a pretty popular stock and their financial reports are actually fairly detailed without them being fully SEC reporting. But we’ll get to that more on the video… Be there or be square! But it’s actually being prerecorded… so just watch it, okay?
Now onto the stocks!
CYBL
I actually hadn’t thought about CYBL very much until this morning for whatever reason. But I’m getting the feeling that they won’t be re-issuing their 2022 annual report again and this may be the final version. I don’t agree that it should be final, but I’m just a humble blogger.
Given that, the clock may be starting on CYBL trying to remove the CE. I am admittedly not very well versed in the removal of a CE minus getting your filings in order and stopping doing whatever bad stuff you did before. But it’s likely not that simple.
For example, OTCM (I assume) doesn’t have to take it off if they don’t want to. CYBL seems to downplay a little bit the reason why they got the CE in the first place (see the WSJ article quote), but OTCM thought it was pretty bad or else they wouldn’t have gotten the CE.
So even if CYBL thinks everything’s all good, OTCM may not care. At this point, I have no clue what’s going to happen as I can’t read OTCM’s mind. But knowing these kinds of issues, I would expect to take longer than you might think… only time will tell!
SIRC
Some spicy SIRC gossip has been floating around lately. Mostly around their upcoming 10k (likely on the 17th) and the fact that they’re doing a Q&A that night from the offices of a company they have an LOI with, AVCO Roofing. Could there be some PR on Monday with an update on the deal?????
Regarding the 10k, I’ve said this before and I’ve said it again: 2022 will not look decent from a book income perspective but quite poor from a cash flow position. At this point, we all just need to move on from 2022 and look forward to 2023.
All I care about at this point with SIRC is that first quarter of cash flow positive from operations, if ever. Everything from the company tells us it’s achievable, and may actually have already happened. But given the myriad of problems last year with funding, management changes, lawsuits, etc. I will only believe it when I see it.
All of that being said, there is still a play here IMO and I haven’t sold. But it’s quite risky and their risk profile has ratcheted up significantly over the last 12 months.
ALPP
I’ve gone ALPP heavy the last week, so I would just point you to my last two articles here going through 2H 2022 and FY 2023 Forecasts.
Shareholder meeting on the 18th and 10k (likely) on the 17th, but maybe sooner!
Random Points
Onto the part that everyone skips! Here’s my random updates on some less popular pennies:
- RJDG – Q2 filing dropped on Thursday and it was a little mediocre, but not bad per se. Revenue grew slightly, but margins are thinning. However, their business is quite cyclical within the year than I will reserve judgement until YE financials are out. There’s also an odd unexplained “other income” that needs clarity.
- RELT – I’ve occasionally mentioned this stock and I now have a long position and bought in the post-10k release dip. So I got a price I honestly thought I never would. They are very beholden to the home construction/home improvement sector, so clearly some risk there. But they are growing significantly, have healthy profits, and are at rock bottom multiples. So I pulled the trigger!
That’s all for today, short and sweet!
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DISCLAIMER – AT THE TIME OF WRITING THIS ARTICLE I HAVE A LONG POSITION IN ALPP, SIRC, RJDG, and RELT. THIS ARTICLE IS NOT FINANCIAL ADVICE AND IS INTENDED ONLY FOR EDUCATIONAL PURPOSES. I AM NOT A FINANCIAL ADVISOR. DO YOUR OWN RESEARCH.
