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Par Sar break! looking good...
delisted? this has been under a dollar for almost a month. Any chance we will get booted? Anyone have some info? Thanks
on the reg sho for about a month straight....n from what i can tell from playing these nss stocks...they are in cover mode now....how high will it go...beats me..i say mid 40's...i have a bid in @ 32 ...but not getting any action...GLTA
Tbum and ickyy- what's going on with CKNN? Shorted?
i think this one will pop up to at least 45ish soon....i will be playing on the bid for the next couple days.......i cant see mm's wanting to pay fines for shorting this stock.....should see a nice pop over the next couple weeks is my call...GLTA
nice job man. Im gonna hold it b/c i still think there, I hardly trust it, but ive been thru this stuff before, like COT, that thing was another nightmare, lol..but mm's figured out how to move it. Those big blocks though on the ask are a little worrisome. I keep thinking its manipulation before its ready, but it may be the real deal conversion all the way down here.. just needs that reason for mm's to turn it. I still think it goes hard, Its all in the timing.. but im not perfect, lol
thanks breakout......should have held em longer...but profit is profit....got another bid in @ 31 if they will give em to me..GLTA
Nice flip ickyy
flipp it up...
04/22/2008 Buy CASH SYS INC CKNN 800 0.31 9.95 -257.95
Estimated Principal Value $315.00 USD
Fill Information
Date Time (PST) Quantity Price ($)
4/23/2008 08:50:50 837 0.35
4/23/2008 08:50:51 63 0.35
aint much...but with this turd i will take it...GLTA
this cknn needs to up, us shareholders have suffered too much holding this crap.
is this the doc holliday aka Greg?
those damn MM, is there still hope for cknn still? we need a bounce and a support level
thats what mm's want, for everyone to be scared and confused, lol..
i really wanna jump in but to scared they will take it to .25 range before bounce.gl
ll so much for that idea..filled n down even more
1647 Open Buy CKNN Equity 0.31 800
well i would like to see a even .31...fill me up...n then turn north....one can wish
Hope today is the turn point for reversal
i hear ya value...n have been burned many a time on stocks like this...all of us doing this as a living have at some point....i like playing turds that are on the reg sho...but it is a big gamble...GLTA
sorry, Im red too, but mm's probably got you to do exactly what they wanted you to do, give up down here. I still think they run the crap outta it, and you are right it does smell of insiders getting rich on the short. its all a part of the game.. Im trippin on it too, but usually the game changes and all of a sudden..BOOM..seems unlikely though huh? lol..seriosly though, sorry you got hit on this one.. it always sux to lose $
Would you care to backup your statements with some historical events that cause you to belive the CEO is
A. Shorting
B. Worthy of jail time
I gave up here and sold all my positions of this pos scam. I bet
that the very sick CEO has been shorting the stock all the time
against all the shareholders. CKNN is the worst NASDAQ stock I
have ever seen during my investment career. It must create a bad
record forever. Even a troubled company is filing the CH11 its
stock price must bounce once it drops too much. However this pos scam has already dropped to the ridiculous $0.33 from $4.25 in less than two months which is more than 92% decline. And there was no any real bounce at all as of today. The sick CEO should be sent to the jail forever to show the justice in USA.
i am thinking of adding more...but think they might drag er down to .30 before any sort of real covering goes on...GLTA
Nice little burst of buying volume just came in.
My opinion? I'm out and waiting for more solid indications of a turn around...
seems like its going straight to hell
cknn on the reg sho everyday since Mar 28, 2008 .......to me this says a couple things.......they have a couple more trading days to shake what they can...n then they have to start to cover..or risk getting fined from the sec......what do other longs think about this..TYIA ..GLTA
Because the weighted average price window is so small, this agreement just plain begged for a massive short term shorting and hammering of CKNN IMO.
I'm no good at reading these things, but I think the company agreed that this should have been over-with on the 15th as they scheduled the drop of a heavy PR on the 16th? I also noticed much larger buys at the ask after the 15th, but there have also been to many sellers for it to make any difference yet.
EE
Shares Short (as of 26-Mar-08)3: 462.97K
http://finance.yahoo.com/q/ks?s=CKNN
The Second Amended and Restated Warrants differ from the First Amended and Restated Warrants in certain material respects, including, without limitation, (i) the exercise price was reduced from $7.38 per share to $2.49 per share, and (ii) the exercise price may be further reduced by the note holders at any time on or before April 22, 2008 to 120% of the arithmetic average of the Weighted Average Price (as defined in the Second Amended and Restated Notes) of the Company’s common stock for each day during the period commencing on March 18, 2008 and ending on April 15, 2008.
its been shorted to the ground. looking at L2.. crushing it, its impressive, lol
heres the filing that did it in imo, im awful with reading this stuff, im just a different trader, but looks like the gig is up. looks like they have until the 22'nd to pound this? regardless i think it goes.. but if anyone can translate that filing, thank you, lol..
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5805593
naked short list
http://www.buyins.net/tools/short_list.php?src=1,7,9
#51
Short interest:
http://www.shortsqueeze.com/?symbol=cknn&submit=Short+Quote%99
EE
I agree, somebody has their boot on it's neck. Hopefully they step off before it dies....
If we get another 10% shaved off tomorrow I'll be loading up heavy.
GLTY
EE
who did the company kill to deserve this from MM's, lol.. havent seen this big of a takedown in a while. usually they rebound just as hard, but question is from when? lol.. MM's are killing this mofo..
I noticed the institution holders had the large share of the O/S. It is interesting that pps fell on March 18th yet volume doesnt indicate institutional exits. What do they know? hmmm
Excellent news. Thank you.
EE
'CKNN' News -- Cash Systems, Inc. Announces New Contract
LAS VEGAS, Apr 16, 2008 (BUSINESS WIRE) -- Cash Systems, Inc. (NASDAQ: CKNN), a
provider of cash access solutions for the gaming industry, today announced a new
multi-year contract with Fantasy Springs Resort Casino, where Cash Systems will
provide it's casinopc for cash advance services all-in-1 atm services, eCash
checking services for check guarantee and full service booth operation.
Fantasy Springs Resort Casino is located in Indio, California and provides a mix
of nearly 2,000 slot machines, 40 table games featuring Mini-Baccarat,
California Carps, 3 & 4 Card Poker, Pai Gow, Spanish 21 and Blackjack, state of
the art off track betting, live poker room and bingo. The hotel offers 250
luxurious rooms, a 3 acre pool with Jacuzzi and tanning pool and over 50,000
square feet of convention space. Located on the property are 4 restaurants and
the Grand Buffet. Fantasy Springs Resort Casino also offers some of the finest
entertainment in the Palm Springs area through the 100,000 square foot
entertainment venue featuring some of the hottest world renowned acts and
groups. Located on top of the hotel is the Velvet Palm Night Club offering a
variety of music and spectacular views.
Recently added to Fantasy Springs Resort Casino is their 18 hole championship
golf course featuring a layout that will challenge even the most serious golfers
"Cash Systems showed us their interest in our property throughout the
installation and launch of powercash. By bringing the rest of the financial
services under one provider we know that it will only enhance the use of
powercash by our patrons," said Paul Ryan, General Manager, Fantasy Springs
Resort Casino.
Michael Rumbolz, Chairman and Chief Executive Officer of Cash Systems, said,
"With this agreement in place, we will now be the full service provider for
Fantasy Springs Resort Casino. By combining our basic financial services with
the already established presence of powercash, we expect that the move to
cashless transactions will continue it's already steady growth pattern at the
property.
powercash includes patented technology that will change the way casino players
access their funds for the purchase of credits on the casino floor. Once patrons
have enrolled in the casino player's club program with the Company's cashclub
functionality they will be able to access funds to purchase credits from their
desired credit, debit or checking accounts while sitting at the gaming device.
Players will be able to request funds from the designated financial account,
transfer those funds into their player's club account and then transfer down to
the gaming device the amount of credits that they want to use. Casino patrons
will no longer have to worry about bringing cash to the casino with powercash.
casinopc is an exclusive product of Cash Systems that offers the full range of
services for processing and completing transactions at the casino cage, all
residing on one system. By having all the functionality on one system, the
casino cage experiences transactions at a much faster pace, saving time and
increasing customer satisfaction.
Cash Systems all-in-1atm offers patrons an ATM with multifunction capability.
Patrons can select an ATM cash withdrawal or select a POS Debit or Credit Card
transaction all from the same ATM.
ecash checking is the quickest and most efficient check cashing and guarantee
product in the industry. Casino cage personnel experience faster check cashing
times with higher limits for casino patrons.
Let's squeeze tomorrow!
RSI is at a ridiculous 16.30
MACD is uptrending
STOCH is at 6.18-6.91
We may see some groups trying to add fuel to the fire... who knows. Lot's of eyes on this
Repost: A thought on the current fundamentals
CKNN recently announced fourth quarter financial results, posting a net loss of $5.6 million or $0.31 per share, wider than a loss of $5.2 million or $0.29 per share in the fourth quarter last year.
Commenting on the results, the company said its board of directors decided to explore strategic alternatives to maximize shareholder value.
Now here's the part to ponder... Even with the weak financials, the lowest price target given by analysts is $1.25 and three out of the 5 covering it are calling it a "Buy" (one of the others is calling it a "Hold" while the other is calling it a "Sell").
Oh, and one more thing 78.80% is held by Institutions
Repost: DD on current situation
On April 15th, bondholders will get their options at the 20-day average + 20%. Of course this means that it would be in their best interest to keep the stock's price down until then.
FWIW CKNN also needs the bounce back to 1.00+ for listing requirements. Doesn't mean it'll happen but it gives another reason why it should. lol
Based on the historical prices, a simple average would be .566 so 120% of that would give .679 as the new excercise price for the warrants. No reason to keep the pps down here now but the 8-k stated that they have until April 22nd to make the choice on the conversion value. IMO there could likely be a 8-k with the update out next week.
Historical Prices for the period of March 18th to April 15th
15-Apr-08 0.42 0.42 0.37 0.39 324,000 0.39
14-Apr-08 0.39 0.42 0.38 0.40 171,900 0.40
11-Apr-08 0.41 0.42 0.39 0.40 139,400 0.40
10-Apr-08 0.49 0.49 0.38 0.40 505,400 0.40
9-Apr-08 0.48 0.48 0.39 0.40 710,000 0.40
8-Apr-08 0.54 0.54 0.45 0.46 564,200 0.46
7-Apr-08 0.55 0.55 0.50 0.51 177,300 0.51
4-Apr-08 0.54 0.57 0.52 0.53 245,400 0.53
3-Apr-08 0.57 0.57 0.50 0.55 458,100 0.55
2-Apr-08 0.57 0.58 0.50 0.50 194,300 0.50
1-Apr-08 0.55 0.56 0.48 0.56 278,200 0.56
31-Mar-08 0.58 0.58 0.51 0.52 169,800 0.52
28-Mar-08 0.59 0.59 0.55 0.57 311,000 0.57
27-Mar-08 0.60 0.64 0.58 0.58 205,600 0.58
26-Mar-08 0.64 0.68 0.57 0.60 447,700 0.60
25-Mar-08 0.54 0.63 0.53 0.63 736,300 0.63
24-Mar-08 0.62 0.63 0.46 0.50 832,600 0.50
20-Mar-08 1.00 1.06 0.55 0.59 1,848,600 0.59
19-Mar-08 1.25 1.28 0.94 0.99 226,500 0.99
18-Mar-08 2.17 2.25 1.15 1.24 1,140,200 1.24
17-Mar-08 2.23 2.23 2.14 2.21 43,100 2.21
From march 18th 8-k fwiw, sure this is already posted here but I'm just posting now so i know where it to find it lol.
The Second Amended and Restated Notes differ from the First Amended and Restated Notes in certain material respects, including, without limitation,
(i) the aggregate principal amount was increased from $22.0 million to $24.2 million, (ii) the conversion price was reduced from $8.00 per share to $2.51 per share, (iii) the conversion price may be further reduced by the note holders at any time on or before April 22, 2008 to 120% of the arithmetic average of the Weighted Average Price (as defined in the Second Amended and Restated Notes) of the Company's common stock for each day during the period commencing on March 18, 2008 and ending on April 15, 2008, (iv) the aggregate principal amount that the note holders may require the Company to redeem, and the aggregate principal amount that the Company may elect to redeem, on October 10, 2008 was increased from $8 million to $12.1 million, (v) the financial covenants based on Consolidated Total Debt to EBITDA (as defined in the First Amended and Restated Notes) were eliminated and the financial covenants based on Consolidated Revenue and Consolidated EBITDA (as defined in the Second Amended and Restated Notes) were modified, and (vi) the interest rate will be increased by 1.5% per annum from and after the occurrence of any Dilutive Issuance Event (as defined in the Second Amended and Restated Notes). The Second Amended and Restated Warrants differ from the First Amended and Restated Warrants in certain material respects, including, without limitation,
(i) the exercise price was reduced from $7.38 per share to $2.49 per share, and
(ii) the exercise price may be further reduced by the note holders at any time on or before April 22, 2008 to 120% of the arithmetic average of the Weighted Average Price (as defined in the Second Amended and Restated Notes) of the Company's common stock for each day during the period commencing on March 18, 2008 and ending on April 15, 2008.
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Company Overview
http://www.cashsystemsinc.com/
24 Hour Support - Call (877) 600-8399
Customer Service - Call (877) 600-8399 between 8:00 am and 5:30 pm CST, Monday through Friday.
Sales - Call (877) 987-7169 between 8:00 am and 5:00 pm PST, Monday through Friday.
Corporate Office
7350 Dean Martin Drive
Suite 309
Las Vegas, NV 89139
Tel: (877) 987-7169
Fax: (702) 987-7168
Cash Systems, Inc. is the largest publicly traded company on the NASDAQ in the casino cash access industry. From the partners to senior management, Cash Systems has developed a team of professionals with strong backgrounds in the gaming and financial industries. Knowing the gaming business and the money management it requires gives Cash Systems an advantage in developing and delivering products and services that benefit the bottom line.
Shares Outstanding: 18.46M
Float: 16.69M
% Held by Insiders: 6.89%
% Held by Institutions: 78.80%
Total Cash (mrq): 16.62M
Total Cash Per Share (mrq): 0.9
Total Debt (mrq): 37.21M
Analysts:
3 Buy
1 Hold
1 Sell
http://www.cashsystemsinc.com/news.asp
Date Title
06/09/08 Cash Systems, Inc. Announces New Contract http://phx.corporate-ir.net/phoenix.zhtml?c=119828&p=irol-newsArticle&ID=1163626&highlight=
05/12/08 Cash Systems, Inc. Announces First Quarter 2008 Financial Results http://phx.corporate-ir.net/phoenix.zhtml?c=119828&p=irol-newsArticle&ID=1143888&highlight=
05/06/08 Cash Systems, Inc. to Announce First Quarter 2008 Results on May 12, 2008
05/02/08 Cash Systems, Inc. Announces Receipt of Noncompliance Notices from NASDAQ
04/16/08 Cash Systems, Inc. Announces New Contract
03/17/08 Cash Systems, Inc. Announces Contract Extension and New Location
03/17/08 Cash Systems, Inc. Announces Fourth Quarter and Full Year 2007 Unaudited Financial Results
03/13/08 Cash Systems, Inc. to Announce Fourth Quarter and Full Year 2007
02/27/08 Cash Systems, Inc. Announces Letter of Intent for powercash
02/26/08 Cash Systems, Inc. Announces Compatibility of powercash with Bally Technologies' iVIEW Display Manager
02/11/08 Cash Systems, Inc. Announces New Contract
02/06/08 Mike D. Rumbolz Appointed to the Board of Directors of Seminole Hard Rock International
01/30/08 Cash Systems, Inc. to Present at the 2008 Deutsche Bank Small and Mid Cap Growth Conference
01/24/08 Cash Systems, Inc. Announces New Contract
01/16/08 Cash Systems, Inc. Announces Director Resignation
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