grantg2
15 years ago
Eight months since a goldigold sighting:
Posted by: goldigold Date: Saturday, April 05, 2008 10:02:32 AM
In reply to: None Post # of 138
Can anyone really believe the grant-thieve here is not short BIG TIME?
FOR days, weeks, MONTHS no post here, soon as I posted here 5 minutes later he had responded to me yesterday.
No one with no interest monitor a board with little or no interest.
The fact is: He must be really big time shorty which is VERYYYYYY NERVUS as he monitors every possible sites related to cchi constantly in order to arrange his next move, and warn the potential investors.
Typical of a BIG short seller with 18000 share short in a tiny traded stock with every thing is going against him by the week.
See you at $100 a share.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
LMAO... whoever did short this stock must have made a bundle, goldi!
at 1.32/4.00 probably can cover about 2.50...
which is more than YOU can sell your shares for!
This stock is almost as easy to hate as some others! eh, PP?
grantg2
16 years ago
Posted by: goldigold Date: Saturday, April 05, 2008 10:02:32 AM
In reply to: None Post # of 138
Can anyone really believe the grant-thieve here is not short BIG TIME?
FOR days, weeks, MONTHS no post here, soon as I posted here 5 minutes later he had responded to me yesterday.
No one with no interest monitor a board with little or no interest.
The fact is: He must be really big time shorty which is VERYYYYYY NERVUS as he monitors every possible sites related to cchi constantly in order to arrange his next move, and warn the potential investors.
Typical of a BIG short seller with 18000 share short in a tiny traded stock with every thing is going against him by the week.
See you at $100 a share.
PaperProphet
16 years ago
Re:<"Check out the Balance sheet again and read the filing, as I feel you did not realized they have already taken reserve for the land loss at the end of 12-31-2007 into the account.">
I don't think you're correct regarding a reserve for a loss on the land. Equity has been dropping consistently about $1M per quarter, consistent with earnings. The estimated loss on the land was announced to be between $3M and $4M. Can you point out the reserve? There's no place in recent history where equity dropped by $3M to $4M. Remove that and an additional $2M for the last two quarters (to the end of June) and the current snapshot probably shows equity around $5M.
To your point about the mining, I would also guess the mines/claims are worth a lot more than when they were purchased. if gold is up 50%, the value of the operations should go up some multiple of that--an increase in the price of gold goes straight to the bottom line with no increase in expenses. Even a mining company with -10% net margins would find net margins swell to nearly 40% with a 50% increase in the price of gold. That's the difference between night and day.
For my point, the SG&A is very high for a company run by one man. I suspect the stock price accounts for this situation fairly well. I would find it hard to believe any shareholder (other than the recipient of the SG&A) would be happy with the SG&A based on the assets involved. Obviously there are conflicts of interest here and Mr. Jarratt isn't doing what's best for shareholders. The company is a year and a half away from having equity of zero.
Contrast that to right after JB Oxford's accounts were sold to Ameritrade, equity was $24M or about $70 per share in good, solid equity. I'm sure every single shareholder, other than Mr. Jarratt and his 60% ownership, would have loved to have that cash distributed. That didn't happen since he does own the majority and since then the coffers have slowly been drained. Shareholders' interests appears to be a low priority for Mr. Jarratt.
For the operations, it looks like Mr. Jarratt made a good bet with the gold mining operations. Undoubtedly that added some value to the company. Again, though, it comes down to Mr. Jarratt's intentions. He could hit the mother lode with a chunk of gold that would dwarf Fort Knox but if his intention is to wean other shareholders from their stake, the stock still won't be worth very much.
PaperProphet
16 years ago
With the loss taken on the land deal and another $1 million per quarter loss, equity right now is probably about $5.5 million. Some convertible issues were added (at market, always a substantial discount from equity). The CEO and sole employee, Christopher Jarratt, owns 60% or so of the common.
The remaining shareholders' equity has dwindled to about $2,000,000. Since the CEO still seems to be paying himself a hefty salary directly and through Third Capital Partners which he appears to own, and since he will undoubtedly compensate himself with more convertibles, he's rapidly swallowing up the remaining portion of the company which he doesn't already own.
At this point, remaining shareholders are pitching in about $1 million per year for Christopher Jarratt's salary and perks--for their shares which are worth only about $800,000. Clearly Christopher Jarratt doesn't have much of a feeling of fiduciary responsibility. Based on that, I suspect the related party transactions to operate the gold mines are value-shifting as well.
Almost $20 million in equity evaporated over the past three years, much of it going to G&A (which includes the salary for the CEO--probably the bulk of that). Good luck to anyone holding--you're going to need it.
grantg2
16 years ago
According to Morningstar 2-08-07:
New Company Profile - cchi
What Does This Company Do?
Cambridge Capital Holdings offers market making and institutional trading services through its institutional trading subsidiary, National Clearing Corp. (NCC). NCC, a broker/dealer, formerly was a self-clearing broker/dealer providing clearing services to other broker/dealers.
And according to the company, this is what it does:
Company Description
Cambridge Capital Holdings, Inc., through its subsidiary, engages in the purchase and sale of real estate for investment and development purposes. It also holds mineral rights, consisting primarily of placer gold mining rights, in British Columbia and the Yukon, Northwest Territories, Canada. Cambridge Capital Holdings was incorporated in 1987. It was formerly known as JB Oxford Holdings, Inc. and changed its name to Cambridge Capital Holdings, Inc. in 2006. The company is headquartered in Sherman Oaks, California.
Morningstar Alerts for CCHI:
CCHI
12-21-2007 01:20 a
CCHI hits 52-week low
The price of this stock reached a new 52-week low of $4.0000 on an intraday basis. If this stock is a recent initial public offering, this low was made within a price history that is less than 52 weeks.
CCHI
05-02-2008 09:00 a
CCHI has fallen more than 10%
The price of this stock moved down -12.222% from $9.0000 to $7.9000.
CCHI
05-02-2008 09:01 a
CCHI trades on unusually high volume
This stock has experienced unusually high trading volume of 512 shares today; its average daily volume over the previous 30 days was 54 shares.
CCHI
05-02-2008 09:01 a
CCHI has fallen 5% on high volume
The price of this stock has changed from $9.0000 to $7.9000 during heavy trading today. The trading volume of 512 shares was higher than its average daily volume over the past 30 days.
.........................................
KEY EXECUTIVES FOR CCHI*
Name Board Relationships Title Age
Christopher L. Jarratt 8 Relationships Chairman of the Board and Chief Executive Officer 45
Michael J. Chiodo No Relationships Chief Financial Officer, Principal Accounting Officer, Secretary and Treasurer 50
CCHI BOARD OF DIRECTORS*
Name Board Relationships Primary Company Age
Christopher L. Jarratt 8 Relationships Cambridge Capital Holdings, Inc. 45
David G. Mahood 2 Relationships Cambridge Capital Holdings, Inc. 45
Edmund B. Hourigan 2 Relationships Cambridge Capital Holdings, Inc. 44
(Relationships number refers to associations with people who are either on the CCHI BOD or the BOD or other companies.)
Financial Reports (the ones that are available)
http://www.cambridgecapital.biz/financialreports
Contact Info
15165 Ventura Boulevard
Suite 330
Sherman Oaks, CA 91403
United States
Phone: 818-907-6580
Fax: 310-385-2236
www.cambridgecapital.biz