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CPI Aerostructures, Inc. (CVU)

NYSE American - Nasdaq Real Time Price. Currency in USD
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2.99000.0000 (0.00%)
As of 11:46AM EDT. Market open.
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  • T
    Todd
    Here is my take on the situation. The CFO that was assigned on March 2020 - was with the company when the old CFO resigned. My guess is the old CFO made this mess, but the new CFO did not have the skills to fix the problems - so now here we sit. Now the new CFO (whom I assume started today - or will start shortly) is coming in from the outside. Whether or not this person can handle the job, remains to be seen, but there is reason to be hopeful. The issue is this new CFO will be coming in cold. Even if he is very good, it likely will take months (many months to clean up this mess). If I were him, my goal, would be to have a complete restatement done, with the Audit, by the end of March 2022. That way you can have a clean slate moving forward. When the news does come out, I thin our ability to rely on the new numbers will probably be pretty good - but I really think the numbers themselves will be really bad news. My guess is he will do what we call "kitchen sink the results). Basically what this means is he will write off anything that is even slightly in doubt, and build up as many reserves as he can. This should act to give him cushion going forward and provide some room to clean up any other issues he may have missed, without needing to make a big deal of it.

    So this is what I would ecpect:

    1) Results no earlier than March 2022 - as more time passes the risk for bad news increases
    2) Really ugly results in the restatement
    3) The stock to hit bottom after the new financials are issued. If the new CFO does it right, all the bad news should be in, at that point, and I think that is the point to buy the stock and hope it can march higher...

    I have been out and watching for quite a while now. As indicated above my plan, will be to buy back in after they show us the new (cleaned up numbers) - if the company appears to be investable at all. If I do come back in at that point, It will be because I think the stock will finally be in a position to generate returns for shareholders - but in my book it is wise to wait - the results could be so bad, they are not investable, even after the results are cleaned up.
  • B
    Booleansearcher
    Todd. I suspect you read fiction right!! Boolean
  • B
    Booleansearcher
    I believe under the surface there are a lot of positives emerging. Yes, sad that Doug remains - no question he should be gone BUT I sense that the board/insiders felt it best to stay with Doug and fix the accounting problems FIRST. He could still be gone in coming months (but unlikely) and I urge to call the company and indicate this. He will be on a short leash and food rations until he proves he is now capable and no longer a danger to the company. We will know how serious they are IF THEY BUY SHARES ON THE OPEN MARKET to show their now shareholder centric state. I believe we an quickly move to 5-6 in coming month(s) on more NEWS. The new CFO has been here since MAY so unlike other posters I think he was integral in the reshape and rebuild of the accounting and knows where the bodies are buried. The company can now move forward and I firmly believe we will see a new energized, reoriented and refocused company with greater shareholder centricity. We shall see but that his how I see this story at this time. Boolean
  • R
    RJ
    The company was supposed to submit a plan by Oct 17, 2021 (per the last news release) about how it plans to regain compliance. Is anyone aware of whether the company has done that ?? If there a link you could post if it has indeed submitted the plan? If not, they could be de-listed.....
  • B
    Booleansearcher
    After this devastating series of doug-bombs dropped on shareholders I am at least hopeful now that the aircraft is ready to leave the hanger. Though for all of us having seen the past it is tough to envision a positive future with the doug bomber still flying the craft. But, I do sense that his over seers will provide the ballast we need. But insiders MUST BUY SHARES ON THE OPEN MARKET in a meaningful way...PERIOD. They must not be self serving any longer and run this as a private company for their own good. They had that game for many many years so now BASTA!! Boolean
  • B
    Booleansearcher
    they reportedly are just waiting for the auditors to do their part as they have done theirs. With the Russell running up we once again see our "gem" sidelined and now looking at delisting. so much fun being a stockholder of CPI. Boolean
  • M
    Mothra
    The estimate is $0.32/shr for this quarter right?
    Anyone have a different number?
  • B
    Booleansearcher
    what a great hike today into old glacial areas...nature serves to provide clarity and cleanse your thoughts, vision and plans. Even my injured leg held up well. Management had best provide some positive updates this week...and I mean very positive. BASTA!!! Boolean
  • R
    RJ
    The last earnings report was on April 16, 2021! Its been 5 months and not a word from the company. With software that can handle financials and accounting, and with a whole bunch of finance folks working at this company, is it really that complex to release the restatements?! Unbelievable, unless of course, if during this process they discovered more 'skeletons in the closet'. I'm really hoping its not that bad when they finally release it, if at all they do. Why did I ever buy this! If I sell now, my loss will be quite substantial.
  • R
    RJ
    When the restatements are released, or should I say "IF they are released", there is only a 50-50 chance that it will either be all fixed, or it will be a huge disaster. The torture of having to make a decision whether to keep or sell!
  • R
    RJ
    They appoint a new CFO with not a word about whether they'll continue to be listed on the exchange (the deadline was Oct 17, 2021 which has passed) and not a word about the restated financials....!
  • B
    Booleansearcher
    FOR SALE: Everything. I am done. It is over - they win. Nothing left now. No hope. Management leaves nothing but scars and crumbs. wow...so sad. Boolean
  • R
    RJ
    Anyone here has any info about when the company might release the restated reports?
  • B
    Booleansearcher
    $3.03. This represents a management who are COMPLETE FAILURES and a board who are complete enablers. Legal remedies fell short. So now we must look to management themselves to step up and do what is right. They must be totally humiliated by their incompetence. MARGIN EXPANSION must be job one along with insider buying of stock. I would target a minimum of 5k each OPEN MARKET and the CEO should be at 10k. They have skimmed off a lot of money for salaries and options for being failures so if they have any degree of self respect (so far not shown at all just greed) they will do what I say. If it were I, I would feel a deep need to pay back shareholders for my inept performance and for financially hurting shareholders. The greatest bull market in history and AGAIN management failed and took the stock price back to historic lows. So let's see what they do and who they address shareholders. Managements have seen their salaries increase by over 700% while workers like 12% since 1978. BASTA!!! Call a leave messages at the company telling them of your frustration with management and the boards failure to address the incompetence of that management. Boolean
  • B
    Booleansearcher
    It is clear - shareholders of this company are viewed with disdain as there is no attempt by management to inform shareholders or to do anything to give the stock stability. There have been no new orders released. MY QUESTION IS - SINCE BRINGING IN A HEDGE FUND GUY IS THEIR PLAN TO DESTROY THE COMPANY - GO INTO BANKRUPTCY AND THEN TAKE IT PRIVATE FOR PENNIES ON THE DOLLAR AND DO IT RIGHT MAKING IT A VERY PROFITABLE COMPANY. I leave nothing off the table as they have proved they can not be trusted and is it INEPT or something more devious. Clearly, we just don't know. Boolean
  • B
    Bellamaxi
    Mega rally in small caps going on, Russell 2K on fire outperforming other indices with new money flowing in. Shameful that management has excluded CVU from participation in recent trends.
  • B
    Booleansearcher
    RJ - if you sell now you have to be right TWICE - both on selling and what you buy next. Staying long at this point seems most prudent as a major turn should be finally on the horizon. To sell here betting and hoping it collapses just seems to carry more risk than holding. I think GUOD is inept but may have learned a bit now after his repeated and sometimes replicated disasters and must also be well aware of the legal ramifications that will befall them/him if they do not succeed. Boolean
  • T
    Todd
    We all know there is going to be litigation and possible recovery (or at least partial recovery) related to the financial reporting issues. Again I am speculating - but the way I see it - the latest restatement announcement was on June 7th. On June 7th the stock was trading at about $3.80 - June 8th in the $3.80-3.85 area. My speculation - any lawsuits that do win, will see losses limited to a decline to $3.80. They would argue and I believe correctly so, any additional losses after the announcement belong to the shareholders who choose to hold. Maybe they will do something different - but at some point the shareholders own the losses no matter how bad management is. Again Good luck - I just keep watching...
  • B
    Booleansearcher
    Looking for announcement this week. I will hold the stock. This is a little "gem". What needs to be determined now is the reason for what has happened - is it a pure function of INEPT SKILLS or more a NEFARIOUS reason. I feel strongly that insiders and especially the board know that they are in direct line of fire of SIGNIFICANT LEGAL REPERCUSSIONS whether it be an INEPT or NEFARIOUS etiology for the massive stock decline and hit to confidence who deal with CPI. I believe we will see a press release very soon from the company. A new CEO should be paramount from OUTSIDE THE COMPANY and one who has the skill set. This is a wonderful opportunity for a turn-around CEO to come in and make this the company it should have been. We shall see - but I also have recommended you talk to attorneys who are skilled in dealing with corporate malfeasance and INEPTNESS. Like all the questions RJ has is the same many shareholders and those who deal with the company have. Finally, once this clears, insiders must immediately buy significant number of shares at 10k minimum. They caused this destruction and must now show their confidence - again with a NEW CEO and restructured BOARD. If not...again...legal means is the pathway so prepare now. Lastly, the backlog must be shown to be lucrative and not priced to feed the insiders salaries and job security with no view of shareholder benefit. GOOD LUCK -- LUCK is also needed here. OK GUOD....get that press release out THIS WEEK!!! Boolean
  • B
    Bellamaxi
    Boolean, I sure hope you own more stocks than this one. 38mm market cap, trades 50K on a good day and company cannot even state a financial report accurately. Further the business model is one in which the revenue is speculative and lumpy at best, primarily to the US Government in a competitive bid situation for FUTURE BUSINESS in which the contract is awarded to the lowest bidder..... at which the lowest bidder must somehow circumvent forward inflation in aircraft parts and materials which is off the chart inflationary. I know because I have been in AC parts business for over 40 years, so I don't need any of your bull telling me different. Have you wondered why they can't make money and do anything consistently or be relied upon for any kind of fiduciary performance?? Look at the facts, this is a terrible investment and business model, thus it is valued accordingly. As I have said before any contract announcement spikes of the past were ALL immediately scalped for an exit opportunity. You blame management, but just sit around and complain and threaten to do something, but there is nothing you can do and have nobody to blame but yourself. Why would you or anyone buy this garbage ? Now that you are stuck with a loss, you somehow expect to be ENTITLED to a gain, .... uh, that's why they call it equity and it comes wit no guarantee, even sleepy Joe would agree with that, and you voted him in. LOL.