I found another OPK. Let me introduce everyone to Lloyd Miller.

[CHOPTALK]

COSI 2.23
NASDAQ

10%+ owner Lloyd Miller.

Well its been about 2 years since I have recommended a stock.

In order for me to share a stock pick I not only have to like it.
I have to love it!

For those of you familiar with the OPK thread you know I like to follow proven insiders of a company who make's direct buy's at market prices.

Not all insider trades qualify in order for me invest.
As a matter of fact most do not make it through my very stringent vetting process.

Not only does an insider stock have to get through my very tight stock screener.

But once that happens it has to get through my own personal research.

When I do this research, over 90% of that research has nothing to do with the company in question.
It is almost 100% focused on the insider making the purchase's and the volume of those purchases.


When I bought into OPK I told you guys from the very beginning that I knew very little about OPK.
To be honest I still dont know much about the company OPK other then the fact I bought it in the low 3's and has climbed up as high as $12.95.

What I did and do know about OPK is Phillip Frost.


With a very impressive track record of insider purchases.


This is where Lloyd Miller comes in.

This guy has a history of not throwing good money at bad investments.

If you missed out on OPK I think this is a great speculative play.

Good luck.

Im in for 6000 @ average price of 2.17.

 

[halekulani]

thanks for the heads up

 

[CHOPTALK]

took a hair cut today.
If Miller buys more this will be a great opportunity to buy in even cheeper then I did.
Miller is only a 10% owner of the company.
He has less at stake in COSI then Frost does with OPK.
This can be a good thing.

Miller can cut his losses a whole lot easier then Frost can.

The next few weeks is very important.
We will find out shortly how much Miller believes in COSI.

 

[tiznow]

He owns more than that now over 20% I believe...

Current management of this company is absolutely terrible and they recently took steps as they getting scared of miller s big stake ...

Così, Inc. Adopts Stockholder Rights Plan


DEERFIELD, Ill. (November 12, 2013) - Così, Inc. (COSI), the fast-casual restaurant company, today announced that its Board of Directors has unanimously adopted a stockholder rights plan (the "Rights Plan") and declared a dividend of one right for each outstanding share of Così common stock.


The Board of Directors adopted the Rights Plan in response to recent trading activity in Così`s shares and accumulations of significant portions of Così`s outstanding common stock. The Rights Plan is intended to enable all stockholders to realize the long-term value of their investment in Così and to guard against any attempt to gain control of Così without paying all stockholders a premium for that control. The Board of Directors believes that the Rights Plan will help promote the fair and equal treatment of all stockholders of the Company and ensure that the Board of Directors remains in the best position to discharge its fiduciary duties to the Company and its stockholders. The Rights Plan has not been adopted in response to any specific takeover bid or other proposal to acquire control of the Company.


Pursuant to the Rights Plan, Così is issuing one preferred stock purchase right for each current share of common stock outstanding at the close of business on November 25, 2013. Initially, these rights will not be exercisable and will trade with the shares of Così`s common stock.


Under the Rights Plan, the rights generally will become exercisable only if a person or group acquires beneficial ownership of 20 percent or more of Così`s common stock in a transaction not approved by Così`s Board of Directors. In that situation, each holder of a right (other than the acquiring person, whose rights will become void and will not be exercisable) will have the right to purchase, upon payment of the exercise price, a number of Così common shares having a market value of twice such price. In addition, if Così is acquired in a merger or other business combination after an acquiring person acquires 20 percent or more of Così`s common stock, each holder of the right will thereafter have the right to purchase, upon payment of the exercise price, a number of common shares of the acquiring person having a market value of twice such price. The acquiring person will not be entitled to exercise these Rights.


Così`s Board of Directors may redeem the rights for a nominal amount at any time before an event that causes the rights to become exercisable. Under the Rights Plan`s terms, it will expire on November 12, 2014.


Additional details about the Rights Plan will be contained in a Form 8-K to be filed by Così with the U.S. Securities and Exchange Commission.

Who knows what Miller up to .. Looking to take private? Shake up management?

GL

 

[tiznow]

I could be wrong on how much he owns now just took a look at it outta curiosity ...

numbers for last Q terrible burning through cash and not a whole left ... At face value their real estate is worth alot more than company valued at ... Hard to understand how a seller of bread an coffee (huge margins) can be losing this much money ... Seems like management piggy bank type treatment ... Maybe miller will be able to right the ship but from what I've read about him he's passive in general and not an activist ... Anyway not something I'd personally mess with as situation looks pretty dire... GL

 

[CHOPTALK]

Yes he owns over 20%.

I just mentioned in the OP that he is a 10%+ owner which requires him to fill out a form 4 when he makes a purchase.
The fact that he owns at least 10% qualifies him as an insider.

Going off of his track record in the past he is a big time winner in the past.

The next few weeks is going to be very telling.
He is not nearly as married to COSI as Frost is to OPK.

Frost cant get out even if he wanted to but Miller can cut losses.

If he buys more after today its a really strong sign

 

[thekinggambler]

Whats the Update on this? I see that it has fallen to 1.70.....

 

[rolltide]

Whats the Update on this? I see that it has fallen to 1.70.....

bad earnings report

 

[halekulani]

opk took a few yrs to build up a lot
i wouldnt b surprised if the same happened for cosi

 

[PatsFan1283]

just bought 1k worth with some divi $

haven't bought a stock in 6 months

I might buy more but I'll have to look into it

thanks for sharing again chop

 

[PatsFan1283]

Tiz and I in the SSS thread were talking about how insane restaurant valuations have become. If this thing can get any kinda momentum it seems like it could hit 150-200Ms.

This segment of fast casual is just growing so much as americans wanna be more and more european with cafes.

I've done really really well with Sbux in the last 14 months (bought at perfect time) so this is definitely something I'm going to research more.

 

[PatsFan1283]

Yes he owns over 20%.

I just mentioned in the OP that he is a 10%+ owner which requires him to fill out a form 4 when he makes a purchase.
The fact that he owns at least 10% qualifies him as an insider.

Going off of his track record in the past he is a big time winner in the past.

The next few weeks is going to be very telling.
He is not nearly as married to COSI as Frost is to OPK.

Frost cant get out even if he wanted to but Miller can cut losses.

If he buys more after today its a really strong sign

Did he buy more?

You said you think it is a good thing he can getout easier. Wouldn't that qualify this as far more spectulative to him than OPK/Frost and thus not as solid of a buy?

 

[PatsFan1283]

I got in at 1.60 and not for a lot of $ so no big deal but man this thing looks tanked.

Down to 1.30, company looks a mess

 

[rolltide]

[h=1]COSI Stock Faces Nasdaq Delisting[/h][h=2]It stock is trading under $2 a share[/h]
restaurant chain Così, (COSI) said that it had been advised by the Nasdaq that its stock may soon be removed from the exchange. Not surprisingly, COSI stock fell more than 3% on the news. COSI noted that it had received notification from Nasdaq’s Listing Qualifications Department indicating that “as of the date of the filing of our Form 10-Q for the period ended March 31, 2014, we have fallen below the $2,500,000 minimum level of stockholders equity required for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1).”The Nasdaq’s advisory informed COSI that it “will be afforded 45 calendar days, or until June 14, 2014, to submit a plan to regain compliance.” COSI said that if Nasdaq approves a submitted plan, it could receive an extension of as much as 180 calendar days to comply with Nasdaq rules.

 

[rolltide]

stock went up 10% today. all the way up to, ahemm, $1.34

looks like they're delaying the quarterly report until the last possible second...

 

[rolltide]

guess this is why they waited until the last second to produce their report...


‘Aggressive’ actions cost Cosi in quarter

8/18/2014 - by Eric Schroeder Share This:


Search for similar articles by keyword: [Food Service]

BOSTON — R.J. Dourney, president and chief executive officer of Cosi, Inc., said the fast-casual restaurant chain operator’s management team took “aggressive, corrective actions” during the second quarter to try and ensure the long-term health of Cosi. Unfortunately, the actions came at a cost, as the company sustained a loss of $4,814,000 in the second quarter ended June 30. This compared with a loss of $2,135,000 in the same period a year ago.
“These actions came at a cost, one I view as an investment in the future,” said Mr. Dourney, who took over as president and c.e.o. in mid-March.
Excluding the impact of one-time costs, the company incurred a loss of $2,711,000 during the quarter. Revenues slipped 12% to $20,670,000 from $23,408,000, reflecting a decline in comparable company-owned restaurant sales and the closing of company-owned and franchise locations during the second quarter.
In an Aug. 14 conference call with analysts, Mr. Dourney said Cosi worked “tirelessly” during the second quarter to wrap up two initiatives. First, the company moved to get underperforming restaurants out of the portfolio.
“I wasn’t going to wait a year or two years or hope that maybe we could get it done,” he said. “We got it done very quickly. So the underperforming stores have been taken out of the mix.”
Cosi removed itself from 10 leases, shuttering the locations, Mr. Dourney said.
Second, Cosi took a sizable step in reducing SG&A.
“We moved out of a 27,000-square-foot office in Deerfield (Ill.) into 7,000 square feet here in Boston,” Mr. Dourney said. “That alone was a sizable savings. We reduced headcount at the corporate level. The support center is running on the balls of their feet right now — appropriately, which is the right thing to do. When you are in a turnaround, nobody should be eating bonbons.”
With those two initiatives complete, Mr. Dourney said Cosi may now focus on driving the top line.
“One of the things that Cosi has a model, historically is very, very good at, is leveraging comp-store sales,” he said. “So as this thing starts to traject into positive comps territory, the incremental sales are very profitable dollars. And I am excited about seeing what happens to the bottom line as we do that.”

 

[CHOPTALK]

I love the new CEO. I still have my position. My entry point was off but I think this is a good hold

 

[CHOPTALK]

Upto 2.03.
if you want to get out now is your chance

 

[halekulani]

damn impressive recovery

 

[rolltide]

Home > stocks > New 1 Year High’s for Cosi Inc, Dyax Corp. and BioDelivery Sciences
[h=1]New 1 Year High’s for Cosi Inc, Dyax Corp. and BioDelivery Sciences[/h] Mike Nelson September 14, 2014 stocks

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The Shares of COSI INC COM (COSI) reached an all time 52 week high during the most current trade on Friday. The Stock reached as high as $2.69 with a trading volume of 1,555,443 shares traded in the market. The price of the stock changed 1.26% to $0.11. The company has been one of the best performers under the Industry Sector ‘Hotels, Restaurants & Leisure’.
Cosi, Inc. (NASDAQ:COSI) closed at $ 2.09 in the previous day market trading session with a price change of $ 0.11 . 1,555,400 stocks were traded during the past trading session . The company has a Price to Earnings Ratio of 0 and a Price to Earnings / Growth of 0 . The one year high of the stock is $2.63 and the one year low is $ 0.94 with a one year price change of $ -0.11 . Lets take a look at the technical indicators – the 100 Day Moving Average is pointing out to 1.302 and a 200 Day Moving Average pointing to 1.337 with a 14 day Relative Strength Index of 53.27 .