Sofame Cash Flow Positive - Share Price Still In The Toilet
So Sofame still seems to be making progress towards ---- well ---- whatever its progressing towards, presumably profits, Profits, PROFITS!!! One can only hope.
Although Q1 profit was down from 2012, I`m taking heart in the fact that they are still evidently a profitable company. They closed 7 orders in 2012 and had results they call "better than expected." Read story.
The share price is still down at impending-bankruptcy-levels of 1.5 to 2.5 cents a share so the company`s future must not be all roses, sunshine and stretch limos.
According to their latest news release, Sofame is planning on acquiring profitable companies and repay their loan now that they are "cash flow positive."
(On a technical note - I`ve discovered that the front page of my website looks pretty crappy when viewed in some browsers. Try Firefox for the time being while I address the problem.)
Thank goodness I did so well with this portfolio when I first began because I`ve been doing pretty crappy for some time now.I`m still in, and trying to consolidate a little bit, dumping the stocks that have been performing badly - and I don`t expect any change.
The recent silver lining is my selling of Afri-Can Marine (AFA) at $0.06, it closed today at $0.055 and continues to look weak.
Earlier today I put in an order to sell REB Gold (RBG) at $0.095 and managed to sell 9,000 of the 11,000 shares I owned.
Let`s see what the morning brings...
The Bleeding Has Stopped I Hope On Much Of My Portfolio
And as promised, here are the other stocks in my portfolio for which I haven`t (yet) set a sell price, primarily because I`ve lost a lot on them so far and I think (maybe incorrectly) that the bleeding has stopped...so if and when I can get some cash I`ll probably buy more of these.
Calico Resources (CKB) - Started buying in 2011 at $0.53...continued to buy until $0.24. Now at $0.20/$0.21. Consistant insider buying up until November 2012 which kind of mirrors my own buying. I need a $0.52 price to make 25%...not bloody likely. Based on insider buying alone this is one that I feel like averaging down on.
Canadian Oil Recovery & Remediation Enterprises - CORRE (CVR) - Originally bought at $0.52 down to $0.355 and then made a profit selling at $0.56. Bought back in at $0.335, $0.20 and $0.155 last year. Now ...
The Stocks I'm Looking To Sell Sooner
Going through the stocks I currently own, I split them up into basically 2 categories:
The stocks where with just a "little" gain I could make a half-decent profit and will try to get it, or want to sell off now because I don`t think it`s going anywhere.
The stocks where I`ve lost a fair bit of money so far but there`s reason to believe they`re on their way back up and would buy more if I had the cash.
Although in some cases, a "little" gain is misleading as a 5 cent gain for a 2 cent stock (SDW) would more than double its share price. But anyway...here are the nine stocks where I`ve set a sell price. I`d be thrilled to sell a few of them by the February 22 expiration date of my order at the prices I`ve set.
Afri-Can Marine (AFA) - Originally bought in at $0.145 & $0.085, subsequently dumping at $0.08 - good thing too as it dropped by half. Bought back in at $0.04 and $0.035 ...