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Just a thought
If someone who owned shares April 22 or before would put in a small test sell order and they sell, we will find out if their shares are good. If it sells then something is rotten in Denmark!! At that point one would have to think we are all being lied to. What do other posters think about that idea?
jim I have no idea. but valuations are all relative on the internet aren't they? it probably depends on whether they
would be attractive enough for anyone to ever want to acquire.
I would suspect this one is probably worth more than the minimal market cap it has right now. (saw some pr/commentary yesterday at this price range per share it was valued at 64k market cap)
here is an OTCbb example for you
http://biz.yahoo.com/e/080416/fndm.ob8-k_a.html
a new internet venture, with one asset that I can see.
a domain name.
its at $3 a share with 43m shares OS.
is it worth $129M?
you tell me.
Looks like a good entry point.
So what do you figure Etelos is worth? They lost .14/share in 2006 and .29/share ($5 million) in 2007.
never heard of on-demand software applications online before?
here's a little education for you..
http://finance.yahoo.com/q?s=CRM
a company in that sector that happens to be worth $8 billion.
I bought yesterday also. Until I here someone who is in the know (my broker or etleos) that all shares purchased yesterday are golden I am still a little concerned. From what I got from "Ken" at eteos shares purchased before yesterday are no good. Each poster needs to research this on their own if they don't trust people on this board to give the right information. I encourage everyone to contact their brokers and ask them if their shares are good or no good.
Good morning all, I feel bad for anyone who bought before yesterday, but I bought yesterday so I'm ready to ROCK!!!!!
Just to confirm kewlman's call from lelsie...
Leslie Green
I had a return message on my answering machine from Leslie saying all Tripath shares owned during the bankruptcy process have been extinquished. I have another call into her regarding shares purchased yesterday. I believe the shares are safe that were purchased yesterday but I will wait from her to confirm it.
Right now it doesn't look good if you purchased before yesterday.
Level 2 looks good already.
http://66.201.236.134/export/level2.jsp?symbol=TRPH
PUPS is right behind it. Poised to make a good move.
Now THAT's a good way to get cheap shares my man! lolz
Good reason to jump in quickly and get out quickly when it comes to pinks. Question is when the shares cancel what will the PPS of the new shares be? This seems like it will still be a low floater. TIA!
Not if you bought them yesterday they won't. You see it is trading isn't it?
Nothing in the daily list today. Until the symbol changes nothing will be official. And who knows how long that will take. It might not even happen at all. Obviously they bought this shell to become public and trade
,,,,,,,So Etleos all they do is make websites??? LOL
then why are they advertising the merger on their home page?
http://www2.etelos.com/
Are you trying dump this stock? How many shares you own? Only what happend is change name and RS.
sorry to hear that...a few of us were genuinely trying to warn you with a couple here too stubborn to listen...hope there is something to salvage for you.
HATE TO POST BAD NEWS BUT HEARD BACK FROM Leslie Green, 650-312-9060, AT 4:10 PM WED. AND SHE SAID THESE SHARES ARE WORTHLESS AND WILL BE CANCALED, SORRY FOR THIS BAD UPDATE!
double post, sorry.
Only to those that still believe in boogeymen...
Ya 6-8 years ago through a select few brokers, if you had enough equity in your account. Things changed in Canada years ago.
Read what you posted more carefully:
"In Canada, previous to the new regulation, investors were not required to borrow stock before selling it short."
Do you have any idea what the margin and maintenance requirements are? It is actually much cheaper in Canada than the US to short pennies....if you can find a broker, which generally you can't other than the US outfit Interactive Brokers.
In Canada mininum margin on stocks under .50 is 100% PLUS 50 CENTS PER SHARE! That is much better than the US though, where the Federal Reserve demands $2.50/share.
So bottom line on a penny/sub penny, if you're willing to put up a few million, you might be able to make a grand or two.
I think that's at least 5 years old. Things changed in Canada years ago.
The last few lines may mean something ..
DESCRIPTION OF BUSINESS
Tripath History
On April 22 , 2008, Etelos merged with and into Tripath, and the surviving corporation changed its name to Etelos, Inc., a Delaware corporation.
Before the effective date of the merger, and since February 8, 2007, Tripath was in a Chapter 11 bankruptcy proceeding in the United States Bankruptcy Court for the Northern District of California, Case No. 07-50358. As a “debtor in possession,” Tripath remained in possession of its assets and properties and continued to operate its business pursuant to Section 1107(a) and 1108 of the Bankruptcy Code. On December 20, 2007, Tripath and Enable Growth Partners LP filed with the bankruptcy court the Third Amended Disclosure Statement Accompanying Third Amended Plan of Reorganization dated December 20, 2007 Proposed by Tripath Technology Inc. and Enable Growth Partners LP, for itself and as agent for the Secured Parties (the “ Plan of Reorganization ”), which contemplated the merger of Etelos with and into Tripath. On February 1, 2008, the bankruptcy court issued an order confirming approval of the Plan of Reorganization, including the merger and the transfer of all of Tripath’s existing assets into a separate bankruptcy estate and the discharge of all of Tripath’s liabilities. As a result of the foregoing, on April •, 2008, Tripath entered into an agreement and plan of merger with Etelos (the “ Merger Agreement ”), pursuant to which Etelos merged with and into Tripath, at which time the separate corporate existence of Etelos ceased and Tripath continued after the merger as the surviving corporation and changed its name to Etelos, Inc. The surviving corporation will conduct the business that was previously conducted by Etelos.
wasn't that common knowledge?
I can't see how you could think anything else...
everyone else has a theory about the ticker change.
they are thinking of bankruptcies on Q stocks..
that disappear when the court disposes of the assets
and the company starts over.
in the same business.
this is not at all the same.
this is already a new company,
a new business, no longer a shell,
debtors paid off with shares of TRPH.
I just can't see the logic most of these guys are using.
but who knows.
maybe I'm an idiot.
So i heard "Canadian brokerage firms most likely NSS crooks"... hey JIMBO what do you think?
The problem arises when short sellers use a scheme called naked short selling to effect their transactions. Naked short selling is a technique whereby you sell short without borrowing the stock. In this way short sellers can sell as much as they want with no accountability for returning the stock. This ability to "fail to deliver" the stock creates havoc in the micro-cap market. In particular shorts can pick on small emerging companies and drive their stock to zero, thus preventing capital raising and frightening other longs in the stock to abandon their position, not based on the fundamentals, but only on the manipulation of the stock. Obviously when you see your stock price plunging, you are most likely to sell first and ask questions later. Shorts were able to get away with this practice because only those firms that were NASD members were required to comply with delivery rules.
There are many groups, such as Canadian brokerage firms, Specialists, options players, who are not NASD members, and therefore do not have to comply with the NASD rules that require members to assure delivery of stock by the settlement date. For example, if you open a brokerage account at a Canadian firm, they are allowed to keep open "fail to deliver" orders on their books. A short selling group trading through a Canadian brokerage firm literally can get away without delivering their shares. In Canada, previous to the new regulation, investors were not required to borrow stock before selling it short.
It appears that the effective date was April 22nd
from the filings:
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=5878105-6677-196779&type=sect&dcn=0001104659-08-025970
Item 2.01 Completion of Acquisition or Disposition of Assets.
This report is being filed by Tripath Technology Inc., a Delaware corporation (“ Tripath ” or the “ Company ”), in connection with the merger of Etelos, Incorporated, a Washington corporation (“ Etelos ”), with and into Tripath. Tripath changed its name to Etelos, Inc.
As discussed in more detail in Item 5.06 of this report, as a result of the merger , Tripath ceased being a shell company as such term is defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”).
FORM 10-SB DISCLOSURE
As disclosed elsewhere in this report, on April 22 , 2008, Etelos merged with and into Tripath in a reverse merger transaction. Item 2.01(f) of Form 8-K states that if the registrant was a shell company, like Tripath was immediately before the merger, then the registrant must disclose the information that would be required if the registrant were filing a general form for registration of securities on Form 10-SB.
Accordingly, Tripath is providing below the information that would be included in a Form 10-SB if Tripath were to file a Form 10-SB. Note that the information provided below generally relates to the business enterprise after the merger, except that information relating to periods prior to the effective time of the merger only relates to Tripath unless the context suggests otherwise. In this report the terms “we,” “us,” “our,” and other similar terms refer to the surviving corporation after the merger.
In this report, we rely on and refer to information and statistics regarding our industry that we have obtained from a variety of sources. This information is publicly available for free and has not been specifically prepared for us for use in this report or otherwise. Although we believe that this information is generally reliable, we cannot guarantee, nor have we independently verified, the accuracy and completeness of this information.
DESCRIPTION OF BUSINESS
Tripath History
On April 22 , 2008, Etelos merged with and into Tripath, and the surviving corporation changed its name to Etelos, Inc., a Delaware corporation.
Before the effective date of the merger, and since February 8, 2007, Tripath was in a Chapter 11 bankruptcy proceeding in the United States Bankruptcy Court for the Northern District of California, Case No. 07-50358. As a “debtor in possession,” Tripath remained in possession of its assets and properties and continued to operate its business pursuant to Section 1107(a) and 1108 of the Bankruptcy Code. On December 20, 2007, Tripath and Enable Growth Partners LP filed with the bankruptcy court the Third Amended Disclosure Statement Accompanying Third Amended Plan of Reorganization dated December 20, 2007 Proposed by Tripath Technology Inc. and Enable Growth Partners LP, for itself and as agent for the Secured Parties (the “ Plan of Reorganization ”), which contemplated the merger of Etelos with and into Tripath. On February 1, 2008, the bankruptcy court issued an order confirming approval of the Plan of Reorganization, including the merger and the transfer of all of Tripath’s existing assets into a separate bankruptcy estate and the discharge of all of Tripath’s liabilities. As a result of the foregoing, on April •, 2008, Tripath entered into an agreement and plan of merger with Etelos (the “ Merger Agreement ”), pursuant to which Etelos merged with and into Tripath, at which time the separate corporate existence of Etelos ceased and Tripath continued after the merger as the surviving corporation and changed its name to Etelos, Inc. The surviving corporation will conduct the business that was previously conducted by Etelos.
no Q here. and if you read the filing, the shell was clean, free of liabilities for the merger. they issued shares of?
tripath. TRPH. to the debt holders to eliminate existing debts.
Then you have never seen bankrupt companies come out of bankruptcy. MOST of the time, as in almost ALWAYS, the ticker changes and the shares go POOF. THAT is the difference. This is a BANKRUPTCY play.
Read the 8K filed prior to this last one, the last 8K and the PR. If you don't get the picture, it will be painted out very clearly for you when the symbol changes, IMO, and your shares you are holding at the time will have been painted with disappearing paint.
This is a reverse merger play. It bounced today and some folks should have banked some super coin that were in it. However, it is also a bankrupt stock play, which is the twist. You're not comparing apples to apples. You're comparing an apple to a LEMON.
Gotta go. Headed to dinner. Have a super evening.
JJ
Posted by: dejavu alloveragain
In reply to: JJSeabrook who wrote msg# 208
Date:4/23/2008 7:38:33 PM
Post #of 209
I've never seen a ticker change, where all the existing shares go POOF. maybe I have missed something.
tickers change all the time.
even when they reverse split they don't even go POOF.
the existing shares convert.
and the only reverse split mentioned in the news here is for the former private shareholders of Etelos. not the existing float of TRPH.
I bet this float is only a few million shares if that.
so with the scenario so many of you smart guys are proposing
there won't be 1 tradeable share remaining in the public float.
so what was the point of a reverse merger? you go just go get a form 10, and go public with a lemonade business if you want, and guess what? there are no tradable shares of your stock. and its a huge problem. why would anyone pay the usual 300 or 400 grand to buy a shell otherwise? they would all be worthless.
I've never seen a ticker change, where all the existing shares go POOF. maybe I have missed something.
tickers change all the time.
even when they reverse split they don't even go POOF.
the existing shares convert.
and the only reverse split mentioned in the news here is for the former private shareholders of Etelos. not the existing float of TRPH.
I bet this float is only a few million shares if that.
so with the scenario so many of you smart guys are proposing
there won't be 1 tradeable share remaining in the public float.
so what was the point of a reverse merger? you just go get a form 10, and go public with a lemonade business if you want, and guess what? there are no tradable shares of your stock. and its a huge problem. why would anyone pay the usual 300 or 400 grand to buy a shell otherwise? they would all be worthless.
retireat40, once you know their definition of "EFFECTIVE TIME," you will have your answer. You think it already occurred. I don't think it occurs until the symbol change goes into effect, at which time those Etelos shares convert 3:1 into whatever the new trading symbol is, and all the TRPH shares sold up to the date of the symbol change go POOF.
Newbs just need to be aware that there are two, totally opposite opinions regarding the shares so they can logically make their own choice and either reap their reward, or take a lickin with a new lesson under their belt.
I have no stake in it one way or the other, but I have posted on numerous other boards when I saw it was evident that the shareholders were about to get stomped, which in each case the remaining ones did.
I wish you ALL the very best of luck in this, and every trade.
JJ
Posted by: retireat40
In reply to: None
Date:4/23/2008 2:26:34 PM
Post #of 207
FROM 8-K:
"Each share of Etelos Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock and Common Stock that is issued and outstanding immediately prior to the EFFECTIVE TIME, shall, except as set forth below, be converted into that number of shares of the Surviving Corporation Common Stock equal to the Conversion Amount. All such shares of Etelos Capital Stock shall no longer be outstanding and shall automatically be canceled and retired and shall cease to exist, and each holder of a certificate representing such shares of Etelos Capital Stock shall cease to have any rights with respect thereto, except (i) the right to receive the number of shares of the Surviving Corporation Common Stock to be issued in consideration therefor upon surrender of such certificate in accordance with SECTION 1.05"
Sounds like only Etelos stock is cancelled. Which makes sense...they are now TRPH.
guess we'll find out tomorrow... lots of bets on different sides of the fence on this one.
check out the website for Etelos:
http://www.etelos.com/about/about.espx?show=13307&tab1=on
pretty interesting sector they're in.
been around since 1999.
yes. this stock has had it's day.
NEXT!
0.008 Close, guess not that many ran for the exits after a plethora of doomsday worries lol Ant.
A very interesting scenario which could account for the plethora of 5K trades on the way up and on the way down. You and I have seen those push-pull 5k trades elsewhere, haven't we Cap? LOL.
My xtra buy order at 0.005 never got filled, heading towards 0.01 again, day 2 tomorrow
Now .007 x .008!!!!!!! Make that .007 x .0085!!!!!!!!!!!!!!
This is very thin...won't take much to move it.
Bid building at .006!
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