Tim Eriksen
@eriksen_tim
CEO Solitron Devices, hedge fund manager of Cedar Creek Partners, micro cap investor, Christian, The Master's Univ., Texas A&M MBA.
Another excellent quarter for Skyline Bankshares $SLBK which was profiled in Cedar Creek's Q1 letter. EPS for qtr of $0.68 plus $0.04 of intangible amortization = $0.72. Price $16.30 so trading at under 6x earnings.
Activists play an important role in microcaps. They help get rid of bad actors. They usually make shareholders money either through a run up in price during the proxy fight and/or after when they take over. When in doubt vote with the activist.
Cedar Creek Partners Q2 investor letter released. Fund up 5.8% in Q2, 15.1% YTD. $ENDI $SODI $PCHM $PHIG $PROM $FIEB $PDRX $ROYTL $PDRX eriksencapitalmgmt.com/investor-lette…
PharmChem $PCHM being acquired for $3.75 per share. prnewswire.com/news-releases/…
Pacific Coast Oil Trust $ROYTL saga continues. Auditor resigns notes that PCEC failed to provide information to support wells in ARO calculation. Trustee notes PCEC failed to fund investigation as required. My biggest gripe right now is Trustee is allowing PCEC to charge…
Solitron Devices $SODI fiscal first quarter results released. Soft quarter as we had said in prior releases. Backlog is strong. Expect revenue to increase during this quarter and be steady in third quarter. Details on CBE investment. otcmarkets.com/stock/SODI/new…
If anyone with deep pockets is looking to buy or add to JG Boswell $BWEL there is 1900 shares on the ask at $520. I doubt that much size on the ask is normal.
Market response to Gad apparent victory at Paragon $PGNT. It would embarrass me if the market valued me at a massively negative number. The two largest shareholders that sided with Gad 17% deserve their paper loss. How long until they have "buyers remorse"?
If you are a Paragon $PGNT shareholder please vote the white proxy card electronically. The deadline is today!
Paragon $PGNT saga for those following. Gad issued a PR late Friday in response to the board deciding that purchasing tail D&O insurance was warranted. He immediately adds more lies by saying he was informed we wanted to spend $500k. Not true. We held a meeting to discuss the…
So Sham Gad is out with his response release at Paragon $PGNT. He attacks the new directors for nominating Mr. Rivera to the board. We did so after four months at the first opportunity. Sham chaired the Nominating committee for a decade and did not nominate Mr. Rivera. So who…
Anyone know where I can find rules regarding mutual bank conversions, such as how soon they can begin repurchasing shares?
Both ISS and Glass Lewis have come out in favor of Paragon $PGNT nominees and against Gad citing his poor performance and poor corporate governance. We urge Kevin Ting and all shareholders to reevaluate their support of Gad. accessnewswire.com/newsroom/en/el…
ECIP bank news $BYFC audit issues related to repurchase option on the Preferred. prnewswire.com/news-releases/… Southern Bancorp buying Legacy Bank and Trust (both private but both ECIP recipients). No pricing announced which is unfortunate as it will give color and how ECIP recipient…
$ENDI completed sale of 25% of CrossingBridge. Last paragraph notes that it allows ENDI to purchase the mgmt contract of RiverPark Short Term High Yield fund. This will increase revenue by $2-2.5 million. Cost is $950k upfront and 39 months of revenue payments. Great deal for…