American Locker Group Inc. (fka ALGI)

[Jugas]

ALGI 8-K out!

[MONEYMADE]

THANKS I WAS OUT BEFORE SEEING YOUR MESSAGE. ONLY 40K

[Jugas]

ALGI Load the cheapies!

[TheInvincibleBull]

Wonder if we get another 13d/a filed. Looks like yesterday was a big sell day? Still don't know what to think of this play. Is it going to become a shell? Honestly I have no idea.

[MONEYMADE]

,,,,,,,I THINK THIS IS BOTTOM HERE.

[MONEYMADE]

YOU HAVE TO HAVE DISCIPLINE......

[Jugas]

ALGI Hit the 8's and take us up to .40! I guess that's more bite than nibble! LOL!

[MONEYMADE]

,,,,,,,Gonna start nibbling

[ZIA SPIRIT]

When is this baby gonna bust a move?

[MONEYMADE]

FORM 4 filed: http://ih.advfn.com/p.php?pid=nmona&article=64490707&symbol=ALGI

[Jugas]

ALGI ZZZZZZZZzzzzzzzz, no buys, no sells. Where is the action? This could run back over a dollar with ease!

[MONEYMADE]

WILL GO FAST ON 100K

[SharpestGeorge]

The volume is incredible on this thing. I am grabbing 100k tomorrow.

[Jugas]

We need some ask slappers to get this moving. It won't take much, L2 is super thin!

ALGI

[TradeSmart.ai]

I see some eyes are starting to take notice of it now, tick tock :]

$ALGI

[Kgs68]

What is the benefit of buying this stock?

The 8 k states the assets will be sold off .

Does everyone think this entity and ticker symbol will go with new company ?

[MONEYMADE]

*************WE NOW HAVE ALGI CHART***************

[Jugas]

ALGI Volume was very low today, but all trades were on the ask. It moves up easy, and L2 was thin all day. Looking good here. I hope you get your shares, GLTY

[MONEYMADE]

,,,,,,,Pretty pissed I did not get my 100k-200k fill

[Big Bang Theory]

Noticed this on friday. Didnt even see a board for it.

[ZIA SPIRIT]

Interesting stock. Very interesting. Could get a nice bounce outta this one.

[TheInvincibleBull]

The ask is razor thin I love it

[Jugas]

ALGI .10's almost gone!

[ZIA SPIRIT]

I agree.

[TheInvincibleBull]

Once .10 breaks $ALGI will go nuts. Hope everyone got in with me ;)

[TheInvincibleBull]

Yep after .1 .20's up ;)

[ZIA SPIRIT]

Looks real good

[TheInvincibleBull]

$ALGI .10 hit!

[Jugas]

ALGI .085 no longer available on the ask. Hmmmm, could get interesting! Currently .07x.10!

[TheInvincibleBull]

As of right now it seems that way.

[Jugas]

ALGI Is this gonna bounce off the 52 week low? Seems sellers are done.

[TheInvincibleBull]

$ALGI on stockcharts now

[scooter5891]

This could get interesting, will keep an eye on this

[OptimusPrime]

Waiting for a entry point here..

[Sibware]

ALGI:Big Radar after hitting my Scanner Friday...

[TheInvincibleBull]

$ALGI can't wait to get this week started ;)

[BoilerRoom]

ALGI I agree. Looks like this could be a huge one....

[Fgbullard]

Waiting for a good entry point oh nice board

[$hellKing]

Its virtually a Big Board A/S O/S Was once a NASDAQ listed

[Mr Clutch]

4m AS? 1.8m OS?

Am I reading that correctly???

[$hellKing]

To trade 350k in a day has got to be a close turnover of the float.

[$hellKing]

I think everyone should recognize these lockers and keys. I think they are at just about every amusement park in FL.

[Daytrader2013]

I was just looking at this stock yesterday. Looks good need to do some dd and check it out $$$$

[TradeSmart.ai]

Sh1t I remember that one too

[MONEYMADE]

Reminds me of crumbs...but the big difference is that Crumb filed for bankruptcy.

[TradeSmart.ai]

I just requested that Stockcharts put it in their chart system so people can pull it up, board looks good bud, you and I know damn well if Anderson buys this out (private equity firm) they are going to run this stock up, either way the company survives this is a guaranteed 10 baggar or more. Can't wait till it finds a bottom :D

$ALGI

[BoilerRoom]

ALGI Interesting.....

[MONEYMADE]

YOU CAN'T TELL ME THESE IDIOTS ARE HAVING THEIR COMPANY STOLEN FROM UNDERNEATH THEM FOR LESS THAN $300K!

I WISH Mr. Zaidins WOULD COME BACK.
I BOUGHT A SMALL POSITION AND WILL KEEP ADDING
FOR ONE HELLUVA LOTTO.

[Mr Clutch]

$ALGI working on DD

[MONEYMADE]

11/13/2013 -- Item 1.01 Entry into a Material Definitive Agreement

As previously reported in the Quarterly Report on Form 10-Q filed with the SEC on August 14, 2014, American Locker Group Incorporated (the “Company”) is in default under its Loan Agreement, dated September 30, 2013, with its senior lender, Triumph Savings Bank, SSB (“Triumph”). As a result of the default, the Company has actively been seeking additional capital to fund its business operations.



The Company has received an unsolicited, non-binding proposal from The Anderson Group, LLC (“Anderson”), a private equity firm that owns and operates numerous manufacturing enterprises throughout the United States. Anderson has proposed to acquire the Company’s assets on a debt-free basis. After the acquisition, operating as a new corporate entity, Anderson would fulfill the Company’s existing customer contracts and continue to manufacture American Locker products. Subsequent to submitting its proposal, Anderson has been conducting due diligence and has engaged in extensive discussions with Triumph.



The Company’s obligations to Triumph under the Loan Agreement are secured by all of the Company’s assets. The Company believes that, as a result of the Company’s defaults under the Loan Agreement and its current financial condition, Triumph will exercise its rights under the Loan Agreement to foreclose on the Company’s assets and that Triumph will subsequently sell those assets to Anderson. Anderson and Triumph are currently negotiating the terms of such sale.



As a result of Anderson’s proposal, on November 10, 2014, Triumph and the Company entered into a Third Amendment to Loan Agreement (the “Third Amendment”), pursuant to which, among other things, Triumph may elect, in its discretion, to provide up to $250,000 in additional borrowings. If funded, the Company believes these borrowings will be sufficient to allow the Company to continue operations and fulfill customer orders until Triumph consummates a sale to Anderson.



The foregoing description of the Third Amendment does not purport to be a complete description and is qualified in its entirety by reference to the full text of the Third Amendment, a copy of which is attached hereto as Exhibit 10.1.






Item 1.02

Termination of a Material Definitive Agreement.




As previously reported in the Current Report on Form 8-K filed with the SEC on October 14, 2014, on October 10, 2014, the Company entered into a letter of interest with Turtle Creek Holdings (“Turtle Creek”) for Turtle Creek to provide the debt and equity capital required to recapitalize the Company and to assist the Company in a going private transaction. In connection with the proposed acquisition of the Company’s assets by Anderson described in Item 1.01 above, Turtle Creek terminated its letter of interest.






Item 9.01

Financial Statements and Exhibits


10.1 Third Amendment to the Loan Agreement dated November 10, 2014 by and between American Locker Group Incorporated and Triumph Savings Bank, SSB.