The penny stock of one of the largest publishers of locally based print and online media in the United States, GateHouse Media, Inc. (GHSE), had no exposure until today. Thanks to Mister and his pals using GHSE stock as a “look what we can do” pick to build their list, this 9 digit revenue generating company finally got some attention on the OTC. Although the typical drop in PPS is due to come later today, even more so tomorrow, the fact that the gates have been opened for traders to have a look could draw some interest over the long haul.
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GHSE Stock Quote
Market Cap: 2.94M
Last: 0.048 ▲ +0.019 (+65.52%)
Dollar Volume: $146,349
Issued and Outstanding: 58,077,031
1st Support Level: 0.0277
2nd Support Level: 0.0263
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If you have any doubts as to whether or not GateHouse Media is legit, look no further than their recent Submission of Matters to a Vote of Security Holders. Besides the typical compensation acceptance for the Company directors, the stockholders ratified the selection of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 29, 2013.
Find one scam penny stock out there with Ernst & Young LLP as their registered public accounting firm and you will win a free subscription to what ever local published magazine of your choice.
GateHouse Media is the kind of Company that prints their annual report and mails it out to shareholders, not hard mailers with Tobin Smith’s face telling you how some POS stock is going to go to the moon and your space suit is waiting for you as soon as you buy the stock. No, instead, the Company, as of December 31, 2012, had core products which include:
• 78 daily newspapers with total paid circulation of approximately 597,000;
• 237 weekly newspapers (published up to three times per week) with total paid circulation of approximately 307,000 and total free circulation of approximately 684,000;
• 91 “shoppers” (generally advertising-only publications) with total circulation of approximately 1.5 million;
• 342 locally focused websites and 339 mobile sites, which extend our franchises onto the internet and mobile devices with approximately 97 million page views per month; and
• 6 yellow page directories, with a distribution of approximately 488,000, that covers a population of approximately 1.2 million people.
That’s a ton of paper being pumped out their into a large number of rather wealthy communities.
For their efforts, GateHouse has reported fiscal year end of revenues over the past 5 years, 2012 to 2008, of $490.964 million, $516.963 million, $547.817 million, $571.75 million, and $660.86 million, respectively. While net losses have declined to just -$29.803 million in 2012 from -$673.306 million in 2008, revenue numbers of this kind are an attractive addition to any large media house which still believes there is a future in print media.
What’s really killing any potential takeover or bottom line net income numbers from happening is due primarily to the Company’s significant amount of indebtedness. At December 30, 2012, GateHouse had total indebtedness of approximately $1.2 billion under their 2007 Credit Facility and interest expense for the year ended December 30, 2012 was $57.9 million. That’s nearly double the net loss reported for the year end.
As for GHSE stock itself, it never did much of anything for most of 2013, only trading more than 200,000 shares on 3 separate trading sessions. In 2012, GHSE traded as high as $0.10, but stayed more or less stagnant in the 0.065 – 0.08 range. Volume and activity has never been a visitor to the GHSE board until today.
About GHSE Stock
GateHouse Media, Inc. is one of the largest publishers of locally based print and online media in the United States as measured by number of daily publications.
Click here to view the SEC filings for GHSE.
Click here to view the website for GateHouse Media.
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GHSE is a nice ticker to see and a penny stock which could one day become a buyout or merger target for a larger conglomerate willing to absorb the Company’s huge debt. Until then, GHSE stock, although it is as real as real gets, is likely to go back into under-200k volume hibernation within a week of today’s spark.
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