AmBase Corporation (ABCP)

[shanak10]

Hello guys, you are all gone?

[willlbone]

A B C Dump.

[willlbone]

So a loan default sort of

[The GidDy uP Kid]

GidDy uP...

[Roy London]

STILL IN PLAY

[Roy London]

ABCP strong weekly close ..such a nice chrt

[Roy London]

ABCP bull out break out

[joethebow]

No, you would not have collected the dividend. Dividends have two dates, the record date and the payout date. Usually the record date is at the end of trading that day, whether or not you held shares. That's why it dropped the next day, as anyone trading the shares then were not entitled to the dividend and the record date had already been recorded with shareholders as of the previous day's close.

Effectively, as of that close... the $2 value was "paid out" on paper.

As for why the stock is still above $1.00, here is a pretty good summary: http://seekingalpha.com/article/1533582-ambase-market-reaction-to-real-estate-deal-misguided

[Planopenny]

keep on goin :)

[Planopenny]

looking nice

[Penny Roger$]

~ $ABCP ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!

$ABCP has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~







For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
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What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~


To find other similar posts of "ABCP" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
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c

[sidedraft]

AmBase Corporation Announces Execution Of Joint Venture Agreement For Real Estate Development Project

GREENWICH, Conn., June 21, 2013 /PRNewswire/ -- On June 17, 2013, 111 West 57th Investment LLC ("Investment LLC"), a newly formed wholly owned subsidiary of AmBase Corporation (the "Company") (OTC: ABCP) entered into an Escrow Procedure Letter Agreement (the "Escrow Agreement") with 111 West 57th Sponsor LLC (the "Sponsor"), an entity affiliated with Michael Stern of JDS Development Group and Kevin Maloney of Property Markets Group, Inc., whereby Investment LLC deposited $56,000,000 (the "Investment") into escrow, representing an initial investment in a joint venture pursuant to which Investment LLC will participate in a real estate development project to purchase, develop, and operate the real property located at 105 through 111 West 57th Street in New York, New York (the "Property").

http://www.prnewswire.com/news-releases/ambase-corporation-announces-execution-of-joint-venture-agreement-for-real-estate-development-project-212531051.html

Ambase had $56,000,000 cash to put into escrow for this JV.
With an O/S of 42.8 million, the PPS of $1.11 seems a little cheap.

[free_bee]

http://www.prnewswire.com/news-releases/ambase-reports-first-quarter-results-207404731.html

[littlejohn]

and paid a $2/share dividend out of the net

income per share for year end 2012 generated from

the payout proceeds received...

At least they added that in the financials at

the bottom of the pr...LJ

[sidedraft]

Another divvy on the way?

....net income of $145,929,000 or $3.37 per share for the full year ended December 31, 2012.

http://ih.advfn.com/p.php?pid=nmona&article=56956972&symbol=ABCP

[iheartweimers]

I don't understand how they could pay the $2 dividend one
day and then the stock opens at $1 the next. Could I have
sold the day after the ex-date for $3 or whatever the high
was that day, and still collected the dividend? That's how
it works with any other stock I've ever seen. If I had had
any clue that they were not going to enter some business
I surely would have as I bought 3000 shares on the divi
announcement. I am holding some stock in shells also,
but not this one, at this price. I'm also curious as to why
is it trading and even trading up to the present $1.21?

[joethebow]

yeah, until they PR something, they are not in the business of anything. it's a cashed up shell until then. I held since the 20 cent range and got paid out on the dividend. Got a few shares just to keep an eye on it but not expecting much. this was a supervisory goodwill play all the way. hopefully they do something but i'm not counting on it.

we will definitely see a pr or filing though about it

[littlejohn]

Seen days that a $50 gain would have been sweeter than losing...

The big volume buying didn't give me the impression that they may post on message boards...

Who knows what's up or not?...LJ

[iheartweimers]

I can't believe my bad luck today. The first two trades today
was me dumping my 1000 @ 1.06, having placed the order
when the ask was 1.04 at the open. The stock took off from
there and I haven't the faintest idea why. With absolutely no
investor relations to even allow a guess as to what sort of
business this company is in, or will invest the settlement in,
I fail to see any sense in risking a dime. So I'm out, with $50
profit for my six months of wondering what the plan is going
forward.

[pj McMulligan]

Any yall adding more ABCP? Hit my pincher scan today..

[sidedraft]

If your broker put money in your account, and then the next tried to correct the error, with the money gone, you would have to come up with the money.

What you posted matches this:



http://www.otcbb.com/asp/dividend.asp?sym_id=abcp

[RxJoshRx]

From investopedia-

"*Note: Different rules apply if the dividend is 25% or greater of the value of the security. In this case, the Financial Industry Regulatory Authority (FINRA) indicates that the ex-date is the first business day following the payable date. For further details on dividend issues, search FINRA's website.

Read more: http://www.investopedia.com/articles/02/110802.asp#ixzz2Et7t8jYy";

I guess my question is though, how or why would they give me the dividend money for a full day and then take it out? What would have happened if I had invested that money or taken it out of my account??

[RxJoshRx]

Did anyone have their dividend taken back? I bought on 11/12/12 and held past the closing for investors on 11/21, or 11/22 (can't remember the date it said). I sold a few days after that and had the $$ deposited in my account before the start on 12/11 and then it was taken out before the start of this morning. I called etrade and they said the ex date was 11/11/12.

Anyone else buy on 11/12 or after and got to keep the dividend?

[sidedraft]

I've never seen the previous close adjusted/changed to reflect a dividend, but that's what my Level II shows:



But the previous close was $3.03.



iHub has it right:

http://ih.advfn.com/p.php?pid=squote&symbol=ABCP

[iheartweimers]

I understand that a stock normally drops by the amount of
a dividend, on the ex-date. ABCP didn't, so I continued to
hold, figuring sooner or later they will figure out what they
are going to do as to investing the rest of their settlement.
I have never seen a drop like this on the day after the divi
is paid, can anyone explain why?

[sidedraft]

Yep, I got mine.

[littlejohn]

right after the market close...LJ

[sidedraft]

Not yet, maybe after EOD processing.

[RxJoshRx]

Anyone get the divi payment today????

[littlejohn]

ABCP pr on 11-14-2012 had the statement included regarding fee arrangements associated with the Goodwill Settlement paid to the company...

Quarterly filing detailed the Officer who was owed a bonus after settlement was paid...LJ

[littlejohn]

Maybe the next quarterly filing will have some subsequent event info on the award details to clarify that...

Is there anyone following the company that may have an idea of any potential plans to expand any business pursuits?...LJ

[sidedraft]

What you posted from the last quarterly, indicates to me that there are no unpaid fees associated with the money received.

[littlejohn]

How important is the info in the company's last quarterly filing to that Award?...

http://ih.advfn.com/p.php?pid=nmona&article=53773826

Professional and outside services increased to $96,000 and $205,000 in the second quarter and six months ended June 30, 2012, respectively, compared to $84,000 and $137,000 in the respective 2011 periods. The increase in the 2012 second quarter and six month periods as compared to the 2011 respective periods is principally the result of a higher level of legal and professional fees principally relating to the Supervisory Goodwill litigation appeals. The Company has no contingent fee agreements in place with its attorneys or any outside advisor in connection with the Supervisory Goodwill legal proceedings or award.

[sidedraft]

AmBase Announces Dividend Payment
Ambase Corp. (QB) (USOTC:ABCP)

Today : Tuesday 23 October 2012

GREENWICH, Conn., Oct. 22, 2012 /PRNewswire/ -- AmBase Corporation ("AmBase" or the "Company") is pleased to announce that the Company's Board of Directors has declared a cash dividend of $2.00 per common share to shareholders of record at the close of business on November 21, 2012, payable on December 10, 2012.

SOURCE AmBase Corporation
Copyright 2012 PR Newswire
http://ih.advfn.com/p.php?pid=nmona&article=54640761

[sidedraft]

AmBase Announces Receipt Of Supervisory Goodwill Settlement Award

GREENWICH, Conn., Oct. 22, 2012 /PRNewswire/ -- AmBase Corporation (OTC: ABCP) ("AmBase" or the "Company") is pleased to announce that on October 19, 2012, the Company received $180,650,000 (one hundred eighty million, six hundred fifty thousand dollars) in accordance with the previously announced settlement agreement in the Supervisory Goodwill legal proceedings between AmBase, the Federal Deposit Insurance Corporation-Receiver ("FDIC-R") and the Department of Justice ("DOJ") on behalf of the United States of America (the "United States") (the "Settlement Agreement").
SOURCE AmBase Corporation
Copyright 2012 PR Newswire

http://ih.advfn.com/p.php?pid=nmona&article=54636743

[scoobey-do]

AmBase Announces Court of Federal Claims Approval of the Supervisory Goodwill Legal Proceedings Settlement Agreement

Today : Friday 12 October 2012

AmBase Corporation ("AmBase" or the "Company") (OTC: ABCP) is pleased to announce that on October 11, 2012, the United States Court of Federal Claims ("Court of Federal Claims") issued an order approving the previously announced settlement agreement in the Supervisory Goodwill legal proceedings between AmBase, the Federal Deposit Insurance Corporation-Receiver ("FDIC-R") and the Department of Justice ("DOJ") on behalf of the United States of America (the "United States") (the "Settlement Agreement"). Pursuant to the Settlement Agreement, within ten (10) business days of the Court of Federal Claims' order, the United States is required to remit $180,650,000 (one hundred eighty million, six hundred fifty thousand dollars) directly to AmBase.

SOURCE AmBase Corporation

[iheartweimers]

It looks as if there may be another lawsuit yet to resolve?

13. AmBase, the FDIC-R and the United States each warrant and represent that no other action or suit by AmBase, the FDIC-R, or the United States with respect to the claims advanced in this case, or with respect to the judgment, is pending or will be filed in, or submitted to, any other court, administrative agency, or legislative body, except as relating to AmBase's entitlement to recover a tax gross-up as provided in Paragraph 4. Nothing in this Agreement will preclude AmBase from pursuing its claims in the action known as AmB a s e C o rp . v. Un i t ed S ta t e s , No. 3:08-cv-651, which was filed on April 29, 2008 in the United States District Court for the District of Connecticut.

[iheartweimers]

I'm just amazed that this board is so dead. It is my
understanding, that this bank failure goes back to 1992.
Can that be? Even if the person that told me that is off
by 10 years and they meant 2002, that is a long time for
bag holders to hang on and average down. DD is showing
some big gaps. I would think this would be going up like
it started to on Friday. Can someone fill me in? I'm in this
for 2000 shares.

[Pni33]

"9. The United States shall remit to AmBase and the FDIC-R, by wire transfer, the Settlement Amount as set forth in Paragraph 3, within ten (10) business days of the approval of the Parties' settlement by the United States Court of Federal Claims..."

9/14/2012? $$$$$$$$$$$$$$$

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8803087

[iheartweimers]

78,500 buy shows that someone big is not afraid of this
losing all of Friday's gains.

[loginusername]

Award is plus a gross-up to cover federal taxes.

Legal fees I thought had been paid by the company all along. It was not on a contingency basis.

[iheartweimers]

May be early yet. I should have waited to get in, but I have
done that in the past and missed out, more often that paying
a little too much at first, held through a dip, then finally get
in the green. ABCP now has so much money, or will in a
few days, they have to go looking for something to buy. As
September is traditionally a slow month for stocks, and with
pre election news about how the economy sucks coming out
every day, there are a lot of good buys they could make.
Point being, this may not be a bad hold if it can stay above
$2.00.

[mrholty]

I've owned a few shares (but not enough) for 18 months.

Personally, I didn't like the 8k for two reasons.

1. Mgmt has been funding the legal fees for this and the complete costs need to be subtracted from the award value.

2. Is the amount referenced for distribution lower than the cash value of the award due to the cost of legal fees + any taxes or is mgmt going to keep some of the award for themselves to enrich themselves or are they going to use part of it to start a new business.

I sold half my position this morning.

[TheFinalCD]

wow who would have thought that BIG hedge funds wouldnt get behind this


wunder whats wrong!

[iheartweimers]

I thought news of the settlement would spread over the
long weekend, and the run started on Friday would continue.
Is the problem that nobody follows this except a few diehards
who never gave up?

[TheFinalCD]

nice $2.85 HOD

[NotRichYet2]

Am kind of puzzled as to why it did not close Friday closer to $4.
True shareholders have to wait for the special dividend but not all that long. Should move up more next week on an award like that. You'd also think the BANK would keep it for expansion.

[TheFinalCD]

yUP!

[brianw]

Hiya lol
Wow you replies to a old post lol

[~MulaGreen~]

CC eat the TMD on Tuesday!!! Off to the Beach