Use access key #2 to skip to page content.

gnulaw (53.79)

[Update1] A Ten-bagger Predictive Model? or Geeknet (GKNT) Files SEC Form 8-K...KPMG in...Stonefield Josephson out. Geeknet off diapers...into big boy pants. Kenneth Langone is Kicking A$$ and Taking Names

Recs

1

September 17, 2010 – Comments (0) | RELATED TICKERS: YHOO , BBY , GKNT

Geeknet (GKNT) Files SEC Form 8-K (1) 9/15...KPMG in...Stonefield Josephson out. Geeknet off diapers...into big boy pants. Kenneth Langone is Kicking A$$ and Taking Names.

I believe the implications of this simple filing will prove to be a statistically significant indicator with Langone's endgame. In graduate school I wanted to develop a multiple regression model which could price an IPO which got me thinking that a better model would be a predictive model for mining Ten Baggers. I believe that independent variables e.g. Geeknet's September 15th 8-K filing would be one superior independent variable to include in that equation. Other independent variables to possibly consider would be Kenneth Langone's recent insider buying specifically and all Langone insiders (2), in general (Insider Buying transactions, velocity of insider ownership). Other predictive independent variables would be Thinkgeek's RoboWarehouse (in an effort to increase gross margins/decrease COGS), abrupt Board / /Employee changes, reverse stock-split, etc.  If Geeknet (GKNT) is a possible ten-bagger given developments in the past 90-120 days including ThinkGeek revenue growth a predictive model should be looking at these types of independent variables, in addition, and arguably vs. current P/E, ROE... 


(1) "...Item 4.01.    Changes in Registrant’s Certifying Accountant. (a)Dismissal of Independent Accountant Previously Engaged as Principal Accountant


On September 14, 2010, the Audit Committee (the “Audit Committee ” ) of the Board of Directors of Geeknet, Inc. (“Geeknet”) dismissed Stonefield Josephson, Inc. (“SJ”) as its independent registered public accounting firm effective September 14, 2010...


(b)Engagement of New Independent Accountant as Principal Accountant


On September 15, 2010, the Audit Committee engaged KPMG   LLP (“KPMG”) as its new independent registered public accounting firm..."

 

_________________________

(2) Entities and individuals affiliated with Marlin Sams Fund, LP (16)  16,881,875   27.8% All current directors and officers as a group (14 persons) (17)  13,169,534   21.2% 

(16) The address for Marlin Sams Fund, LP is 645 Fifth Avenue, New York, NY 10022.  Based solely on information included in a Schedule 13D/A filed with the SEC on June 4, 2010, as updated by Forms 4 filed with the SEC on June 4, 2010, June 11, 2010, and June 15, 2010: Marlin Sams Fund, L.P. had sole voting power and sole dispositive power over 10,100,000 of the shares listed above; William M. Sams had sole voting power and sole dispositive power over 6,600,000 of the shares listed above; Suzanne M. Present had sole voting power and sole dispositive power over 160,000 of the shares listed above; Marlin Sams GenPar, LLC had sole voting power and sole dispositive power over 10,100,000 of the shares listed above; Gladwyne Marlin GenPar, LLC had sole voting power and sole dispositive power over none of the shares listed above; Michael Solomon had sole voting power and sole dispositive power over 200,000 of the shares listed above; Candice McCurdy had sole voting power and sole dispositive power over 200,000 of the shares listed above; Chad McCurdy had sole voting power and sole dispositive power over none of the shares listed above; and Mary Thomas had sole voting power and sole dispositive power over 205,200 of the shares listed above.  Marlin Sams Fund, L.P., Marlin Sams GenPar, LLC, and Gladwyne Marlin GenPar, LLC may be deemed to beneficially own 10,100,000 shares of the Company’s Common Stock.  William M. Sams may be deemed to beneficially own 16,700,000 shares of the Company’s Common Stock, consisting of (i) 16,500,000 shares of Common Stock and (ii) 200,000 shares of Common Stock held in the Irrevocable Trust of Michael Solomon FBO Grace Solomon for the benefit of Michael Solomon’s daughter, of which William M. Sams is the co-trustee with Constance Solomon, Michael Solomon’s wife.  Suzanne M. Present may be deemed to beneficially own 10,260,000 shares of the Company’s Common Stock.  Michael Solomon may be deemed to beneficially own 10,300,000 shares of the Company’s Common Stock.  Candice McCurdy may be deemed to beneficially own 350,000 shares of the Company’s Common Stock.  Chad McCurdy may be deemed to beneficially own 150,000 shares of the Company’s Common Stock, and Mary Thomas may be deemed to beneficially own 205,200 shares of the Company’s Common Stock.

(17) Includes the shares beneficially owned by our current officers and directors set forth on the above table as well as 81,665 shares of restricted stock under the Company’s 2007 EIP and 1,449,161 shares subject to options that are exercisable within sixty (60) days of September 9, 2010. 


Source: Form Type: PRE 14A, Filing Date: 9/13/2010, Description: Proxy Statement - Notice of Shareholders Meeting (preliminary).

0 Comments – Post Your Own

Featured Broker Partners


Advertisement