wachtwoord Posted March 14, 2017 Share Posted March 14, 2017 I send an email about it. Link to comment Share on other sites More sharing options...
wachtwoord Posted March 15, 2017 Share Posted March 15, 2017 The 6 month financial report will be send within the next 7 days. Link to comment Share on other sites More sharing options...
mbrock77 Posted March 29, 2017 Share Posted March 29, 2017 Just got the Q2 report: http://www.proxydocs.com/0/001/119/730/hanover_foods_corp_2nd_quarter_cfs.pdf Link to comment Share on other sites More sharing options...
wachtwoord Posted March 29, 2017 Share Posted March 29, 2017 Just got the Q2 report: http://www.proxydocs.com/0/001/119/730/hanover_foods_corp_2nd_quarter_cfs.pdf Me too, just after I contacted the company again. Looked at it briefly for now. Same old same old. Link to comment Share on other sites More sharing options...
Spekulatius Posted March 29, 2017 Share Posted March 29, 2017 Just got the Q2 report: http://www.proxydocs.com/0/001/119/730/hanover_foods_corp_2nd_quarter_cfs.pdf Me too, just after I contacted the company again. Looked at it briefly for now. Same old same old. Here is what bothers me most about HNFSA, ever since I purchased the stock: When will the employee who is creating the photocopies, straighten out the pages before making the copies? I guess we are lucky that we don't see remnants of the employees breakfast or lunch on the pages, but still. Link to comment Share on other sites More sharing options...
Guest notorious546 Posted March 30, 2017 Share Posted March 30, 2017 Just got the Q2 report: http://www.proxydocs.com/0/001/119/730/hanover_foods_corp_2nd_quarter_cfs.pdf Me too, just after I contacted the company again. Looked at it briefly for now. Same old same old. Here is what bothers me most about HNFSA, ever since I purchased the stock: When will the employee who is creating the photocopies, straighten out the pages before making the copies? I guess we are lucky that we don't see remnants of the employees breakfast or lunch on the pages, but still. haha where are the footnotes and other schedules? Link to comment Share on other sites More sharing options...
mbrock77 Posted June 1, 2017 Share Posted June 1, 2017 I guess Q3 is going to be late as well? (last year they sent it in early May) Who is the contact there for investor relational questions? Link to comment Share on other sites More sharing options...
snow pea Posted June 20, 2017 Share Posted June 20, 2017 https://www.proxydocs.com/0/001/156/528/hanover_foods_corp_61417.pdf Link to comment Share on other sites More sharing options...
writser Posted October 25, 2017 Share Posted October 25, 2017 http://www.creditbubblestocks.com/2017/10/hanover-foods-corp-2017-annual-report.html The expected cash cost of the supplemental pensions for FY 2018 is $1.18 million. If I'm understanding this correctly, it means there were one or more top employees, now retired, who were making just shy of $2 million in salary and bonuses during their final three years, on average. That seems like a TON of money for a company earning only $5.3 million average cash flow and 2.2% ROE! Until we find a better hypothesis, my guess will be that profits and ROE are being siphoned off by overpaid management. Further evidence in support of this: the company owns (in its Sunwise Co. subsidiary) a 1999 Cessna Citation (Model 560XL) business jet that they keep at York Airport in Pennsylvania. According to one data source I have seen, this plane gets flown all the time - apparently 200 flights YTD in 2017 and 275 flights in 2016. I'm not sure whether that's all Hanover & executives flying or if they lease it out, but at normal hourly costs for a business jet this is quite an expensive way of visiting Rogers, AR for WalMart meetings. A diligent analyst might ask the company why the plane has been photographed in San Diego in February and at the Ohio State U airport on the same Saturday as a football game. Link to comment Share on other sites More sharing options...
fishwithwings Posted December 26, 2017 Share Posted December 26, 2017 Anyone have the latest financials? Thanks in advanced! Link to comment Share on other sites More sharing options...
Spekulatius Posted April 29, 2018 Share Posted April 29, 2018 Amongst the dead money stocks, I own, this is like an Egyptian Mummy. Owning this seems like owning a mummy and hope that it comes alive. What are the thoughts? I am not adverse to waiting, but is there a reasonable case, where this stock creates a return on investment for minority owners? The management gets their inflated salaries, the company jets and the pensions but the owners will have to do with $1 in annual dividends for how long? Link to comment Share on other sites More sharing options...
Hielko Posted April 29, 2018 Share Posted April 29, 2018 I guess it all depends on timing. If the status quo is maintained forever I doubt this investment will work out. But possible at some point in time the majority owners might decide that selling the business is their best option. I don't know exactly what a strategic acquirer could pay for this business, but wouldn't be the first time that some sleepy OTC stocks get sold for a huge premium. If things change between now and the next 5 years you will probably do great. If it's in 10 years.. i don't know. If it's in 20, 30 or 50... probably not. Link to comment Share on other sites More sharing options...
Spekulatius Posted April 29, 2018 Share Posted April 29, 2018 I struggle to even come up with a potential buyer for this low margin business that will not get better. The only public peer is SENEA, which actually has much better governance and results over the last decade, yet trades at 0.6x book (or 0.5x book with LIFFo reserve). Best case scenario for shareholder is liquidation but how likely is that? Link to comment Share on other sites More sharing options...
Spekulatius Posted November 19, 2019 Share Posted November 19, 2019 In case anyone is interested: https://www.proxydocs.com/0/001/420/589/hanover_foods_corp_1st_qr_11182019.pdf Link to comment Share on other sites More sharing options...
Stuart D Posted November 19, 2019 Share Posted November 19, 2019 In case anyone is interested: https://www.proxydocs.com/0/001/420/589/hanover_foods_corp_1st_qr_11182019.pdf ^Thanks for posting. Link to comment Share on other sites More sharing options...
fishwithwings Posted December 6, 2020 Share Posted December 6, 2020 3Q report (https://www.proxydocs.com/0/001/493/050/hanover_foods_corporation_cfs.pdf). Unfortunately I don't have the latest one. Link to comment Share on other sites More sharing options...
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