Author Topic: ADVC - Advant-e Corp.  (Read 22318 times)

ItsAValueTrap

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Re: ADVC Advant-e Corp.
« Reply #10 on: December 14, 2012, 02:15:11 PM »
Advant-e Corporation Announces $.02 per share Special Cash Dividend; Update on Corporate Actions

http://www.advant-e.com/press/2012/121212.html

Quote
Advant-e Corporation Announces $.02 per share Special Cash Dividend; Update on Corporate Actions
Dividend to be paid on December 28, 2012 to shareholders of record as of December 18, 2012
DAYTON, Ohio, December 12, 2012 -- Advant-e Corporation (OTCQB: ADVC) today announced that its Board of Directors declared the payment of $.02 per share special cash dividend, payable on December 28, 2012 to shareholders of record as of December 18, 2012.  The $.02 per share cash dividend will total approximately $1.3 Million.

The Company also provided the following update to Corporate Actions that were announced on November 5, 2012:

$2 million Share Repurchase Program – As of December 11, 2012, the Company has repurchased 4.3 million shares at a cost of $1.1 million at an average cost of approximately $.26 per share.  As a result, $.9 million remains available for purchase of shares on the open market or in privately negotiated transactions.

Forward/Reverse Split – On November 30, 2012 the Company filed a Preliminary 14C with the SEC.  Upon completion of the SEC’s review, the Company will file a Definitive 14C and mail it to the Company’s shareholders.  Approximately twenty days after the mailing of the Definitive 14C, the Company will effect a 1-for-10,000 reverse split of its shares followed immediately by a 1,000-for-1 forward split.  Shareholders holding a fractional share after the reverse stock split will be cashed out at $.27 per share on a pre-split basis.  The reverse/forward split was approved by the written consent of the holders of 62% of the issued and outstanding shares of Common Stock.

Voluntary Suspension of the Company’s Obligation to File Reports with the SEC – As soon as practical after the Reverse/Forward splits, the Company intends to file a Form 15 with the SEC thereby suspending public reporting obligations.
Mr. Jason K. Wadzinski, Chairman and CEO of Advant-e stated, “We continue to make progress on our previously announced corporate actions.  Because we are paying a special cash dividend prior to the completion of the reverse and forward splits, the $.02 per share dividend will be taken into account for the remainder of the share repurchase program.”
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Hielko

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Re: ADVC Advant-e Corp.
« Reply #11 on: December 14, 2012, 02:33:35 PM »
Weirdly enough they decided to cancel the reverse/forward split just 24h after posting the press release quoted above.

ItsAValueTrap

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Re: ADVC Advant-e Corp.
« Reply #12 on: December 14, 2012, 02:52:27 PM »
Where does it say that?
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price. " -Buffett

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Hielko

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ItsAValueTrap

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Re: ADVC Advant-e Corp.
« Reply #14 on: December 14, 2012, 02:57:37 PM »
Thanks a lot... I missed that!!!

Well... there goes this arbitrage trade.
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price. " -Buffett

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Olmsted

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Re: ADVC Advant-e Corp.
« Reply #15 on: December 15, 2012, 09:31:22 AM »
Wow!  I was waiting for a day when the spread widened a little bit to put the arbitrage on.  It widened Friday morning - I'm real glad I checked the news first.

ItsAValueTrap

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Re: ADVC - Advant-e Corp.
« Reply #16 on: March 27, 2013, 09:31:24 AM »
http://www.advant-e.com/press/2013/032613.html

Their press release for their annual earnings is out.  I see $1.6M in share repurchases... no share repurchases show up in the latest 10Q on SEC EDGAR.  How did they buy so much stock in the last quarter of 2012?

$1.6M in repurchases is a lot since their GAAP net income for 2012 is $2.0M and this stock ain't exactly liquid.  On many days only a few hundred dollars of the stock is traded.
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Hielko

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Re: ADVC - Advant-e Corp.
« Reply #17 on: March 27, 2013, 09:37:18 AM »
Lots of liquidity at the end of last year with all kinds of news/corporate actions going on.

ItsAValueTrap

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Re: ADVC - Advant-e Corp.
« Reply #18 on: March 27, 2013, 09:46:07 AM »
I haven't calculated it but it doesn't look like there's enough liquidity there.  Remember that companies can only buy back a certain % of the trading volume due to regulations.

They are allowed to buy more shares in privately-negotiated block trades.  I guess when the 10-K comes out I might be able to answer my question.
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PSDFinancier

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Re: ADVC - Advant-e Corp.
« Reply #19 on: August 05, 2013, 07:56:34 PM »
Hey guys,

Are folks still long ADVC since they announced they're going dark? It's a fabulous business, and I don't necessarily mind continuing to hold shares, but would at least like to know that I get an annual report once a year to see how things are going. Has anyone talked to ADVC management to see if they will at least continue to provide annuals?

Best,
PSDFinancier