"America’s leading direct retailer of fine wine and wine accessories with retail locations in 15 states, home and office delivery to 27 states, and a devoted following of thousands of regular customers and wine club members.
The burden placed on the Company, given its size, for maintaining its public status is considerable, from a financial and strategic standpoint. Considering the lack of analyst coverage and the very thinly traded nature of our stock, the Board of Directors believes that the Company and its shareholders are not receiving a meaningful benefit from being publicly traded. We believe that our shareholders are better served with the Company being private, which will allow management to focus all resources on implementing the Company’s business plan and thus position the Company to enhance long-term shareholder value. The Company intends to update its shareholders with financial information on an annual basis.”
"The Company’s obligation to file with the SEC certain reports and forms, including Forms 10-K, 10-Q and 8-K, will immediately be suspended. In addition, the common stock of Geerlings & Wade, Inc. will no longer be eligible for quotation on the Nasdaq SmallCap Market. The Company common stock will be quoted on the Pink Sheets common stock will be quoted on the Pink Sheets."
This is a company that is dedicated to selling wine and other products. When listed on the Nasdaq they were thinly traded and it wasn't worth the hassle to stay listed. The move to the Pink Sheets relieved them of the responsibility of having to report or file anything with the SEC. There are many good companies on the Pinks that are profitable with little or no debt and don't report anything because of the hassle and takes away from the daily focus of running the business.
Last time they did file they had a $15million profit, .48 cash per share, on $300k debt and book value of $1.13 per share.
1.5 million float 3 mil OS. No company promotion, No dilution A set number of shares TINY Number of shares. With a bit of experimenting today there is hardly any shares available at any given level 5000 took out .036, 7000 shares at .039, 50000 at .0399, 38000 at .04 that is 1/15 of the float. Interesting play A shell that is no more empty than GWBU, SNPK or any of the other POS that ran to $1 a share with 100's of millions of shares in the float and massive dilution. With the tiny float it could be a multibagger with just a little bit of volume.
Buy some then spread the word.
