Session of 02/12/2007

[David Randolph]

Good morning

As promised I took a more in depth look at BULK, BULKW and BULKU and I found out that BULKW is a convertible warrant that allows you to buy one BULK share at $5, so, with BULK at $6.65 its intrinsic value is $1.65 (although there's more than intrinsic value to add, like the speculative premium, time, etc). But with BULK shares below $5, BULKW is worth $0 or close to zero, so it is a very risky proposition.

BULKU are units that allow you to have two BULKW warrants and 1 share of BULK for each BULKU owned. That puts BULKU's intrinsic value at $6.65 + ($1.65*2) = $9.95.

I think BULKW and BULKU are risky assets and are trading somewhat above fair value.

As for BULKU shares, these warrants are convertible into 65,550,000 shares of common stock, and that more than doubles the current market cap, erasing the potential that I saw on my first attempt at analyzing the stock.

I'm not willing to sell the 3 Stocks on Fire Portfolio's current holdings today.

But let's have some suggestions to study other stocks, thank you for your participation

[nullzero]

CPST moving today up +7% volume over 200k already.

[nullzero]

REFR on the move volume over 100k on its way over 4% now.

[WallStreetnBio]

ONSM

It's not profitable yet but it is growing well.  I like the insider purchases the last couple of months.  They are also doing business with Fortune 100 companies. Technicals look strong.

Here are some recent news
'Hillary Clinton for President' Campaign Relies on Onstream Media for Webcast Series

Onstream Media Corporation Fiscal 2006 Fourth Quarter and Fiscal Year End Conference Call Recap

[David Randolph]

CPST moving today up +7% volume over 200k already.

Technically CPST's move can only be interpreted as a rebound in a descending trend.

Fundamentally the company lost "just" $8.5 M in the calendar 2006 4th quarter, less than the $10.4 M it lost in Q3, but not enough to push this stock much higher, given that it is a $95 M market cap company already, with calendar 2006 sales of just $22.76 M and huge losses every quarter.

Thanks for the suggestion

[nullzero]

Short on Fire CBAK?

[David Randolph]

REFR on the move volume over 100k on its way over 4% now.

Yep, technically REFR looks quite bullish. I guess I failed to see the impact of Hitachi's news on the company. Still, I maintain that this is a $170 M market cap company with just $158 K in revenues over the last four quarters and a book value of just $3 M.

When it goes down it will tank hard, I would avoid REFR, despite the chart.

Great run so far, though

[David Randolph]

Press release from CPNE.OB:

• Commerce Planet Will Release Q-4 2006 Guidance at the 19th Annual Roth Capital Partners Conference
PR Newswire (Mon 10:06am)

Ten days to go to the big news ! I'll just sit tight holding CPNE.OB.

[nullzero]

nice news

[kpusan]

GGBM .. very nice this morning .. still holding 1/2 shares from Friday morning

[nullzero]

GGBM up over 10%
TRMM also moving again up over 10%

[David Randolph]

ONSM

It's not profitable yet but it is growing well.  I like the insider purchases the last couple of months.  They are also doing business with Fortune 100 companies. Technicals look strong.

Here are some recent news
'Hillary Clinton for President' Campaign Relies on Onstream Media for Webcast Series

Onstream Media Corporation Fiscal 2006 Fourth Quarter and Fiscal Year End Conference Call Recap

Yes, I like ONSM ... it was a shame that I was thrown out of board due to short term volatility when I held it. My hands were weak on ONSM due to the losses you're referring to (and the weak balance sheet), but I think the future is bright for ONSM, especially with video on the web getting a lot of traction as it is happening now.

But I'm not sure, I would have to disrespect fundamental analysis to buy it, because the balance sheet shows negative working capital and that almost always leads to dilution.

I'm neutral on ONSM.

[la-onda]

NTRZ on fire, your comments David please

[David Randolph]

nice news

Well, it wasn't news, since on previous press releases they already said they would release 4th quarter results by the end of February. Now we just know CPNE's CEO, Michael Hill, will provide some guidance just before that ... not really market moving news.

[David Randolph]

GGBM .. very nice this morning .. still holding 1/2 shares from Friday morning

This really ain't my kind of chart, but good luck