Hmmm...Lots of risk here and lots of reward...
The 11 million note is a danger signal here. It could convert to 87% of the shares, which mean that our shares are nothing. The note could be paid off within 90 days or convert at .20 cents U.S. a share. Newcastle seems to have the company best interests at heart, but this would be a great move to get the company for peanuts. It is worth almost 1.00 buck a share with it parts valued properly. And the money from sold operations would mean Newcastle got it for nothing.
I have increased my holdings to 170,000+ shares with an average of about .14 cents U.S. a share. With my finger on the trigger, watching the news, I will vote no to the conversion from 4 bucks a share to .20 cents a share for sure.
Some investment companies are buying up the shares slowly so as not to show interest and cause the SP to jump. Worth at least .20 cents a share so buying at .13 and .14 cents makes sense. The shorts are almost all out and the bottom is here between .13 cents and .20 cents. I have around 2% of the total shares issued and institutions have about 48% of the shares outstanding as of today. So only 50% could be trading of the 4 million shares left. And I doubt there are more than 1 million left to trade as there is no selling back and forth, just accumulation of the loose-hand shareholders who have lost their rear-ends on BI/BIUI
I want a minimum of 1.00 a share but who knows what the news will bring. I am waiting for my etrade account to send me notification of the shareholder vote. I vote no. Newcastle can go to heck. Institutions will also vote no. The CEO of BIUI is a board member of Newcastle and so dangerous. Depending on news and SP (share price) I may increase my holdings 100,000 to 200,000 more. But with my finger on the trigger and my google alert set for news on BIUI!
I like the downs in the markets. Last time in 2000 I cleaned up also. :) :) :) oldmanbadman rdncoic
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