dd MKTS .01 THE BEAST,MOST UNDERVALUED US STOCK IMHO, 0.46$ BV PER LAST FINANCIAL REPORT!!! EX NASDAQ STOCK (RODMAN&RENSHAW), LIQUIDATING BANKING ASSETS,SEEKING MONETIZATION OF OTHER ASSETS OR PARTNERS (DIRECTMARKETS PLATFORM FOR PRIMARY MARKET OFFERINGS;FINANCINGS), DIRECTMARKETS AS RODMAN&RENSHAW WAS ONE OF THE BEST KNOWN AND INNOVATIVE INVESTMENT BANKS,ABSOLUTE LEADER IN REGISTRERED OFFERINGS AND PIPE FINANCINGS, A REAL COMPANY WITH REAL ASSETS AND SKILLS,NOW LIQUIDATING INVESTMENT BANKING ASSETS.
DD MKTS .01 VS 0.46$ BV,EX NASDAQ STOCK,OS 33MILL,SUPER LOW FLOAT WITH REAL ASSETS,MC 300K$ VS 15MLN $ NET ASSETS,MOST OF ALL CASH AND LONG TERM INVESTMENTS (AS OF JUNE 30 2012 FINANCIAL REPORT) IMHO MOTHER OF ALL UNDERVALUATIONS DO YOUR DUE DILIGENCE BEFORE INVESTING,IT'S ONLY YOUR MONEY
2012 year end tax loss selling pressure over, pps hit lowest point 0.0050!!!now super bounce due, imho target is set at least 0.10$ for a total liquidation value or just 3,3mln$ vs over 15mln$ in net assets according last quarter results as of june 30,2012.
pps imho doesn't reflect real value of net assets due to lack of volumes and interest,company is now seeking orderly liquidation of ex investment banking unit (R&R),brokerage operations and seeking partners or monetization of DirectMarkets unit (innovative primary financings 24/7 automated platform "First-Ever 24/7 Automated Electronic Transaction Platform to Link Issuers with Investors for Primary Offerings of Securities by Existing Publicly-Traded Companies")market cap is worth well less than that of a clean shell (100k $ vs 250-350k$) but admitting this is not yet a shell but a liquidating company with real assets (at least 7mln$ cash as of august 2012 plus other long term investments) would be at the end of liquidation/monetization process a rich shell plent of money but not a clean shell!!! I'm assuming a dividend to shareholders or an acquisition,
www.marketwatch.com/story/direct-markets-holdings-corp-announces-2nd-quarter-2012-financial-results-2012-08-14
os 33mln as 100 mln (no dilution here, ex nasdaq company) float inexistent bv as of june 30 2012 0.46$ or 15mln$!!! assuming losses and liquidation expense,discounts even 5 mln would equal .15$ __________________________________________________________________
www.reuters.com/article/2012/09/12/directmarketholdings-capital-idUSL3E8KC55420120912
"The company said it believed the new focus on technology would generate more value than its legacy investment bank-focused strategy."
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Rodman to launch automated electronic transaction platform
biotuesdays.com/2012/02/02/rodman-to-launch-automated-electronic-transaction-platform/
www.securitiestechnologymonitor.com/news/rodman-renshaw-launch-directmarkets-primary-stock-offerings-29966-1.html
www.bobsguide.com/guide/news/2012/Mar/21/rodman-renshaw-launches-directmarkets.html
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Rodman & Renshaw Withdraws From Brokerage Business
Parent Company Vows to Commercialize Direct Markets Technology
www.tradersmagazine.com/news/rodman-renshaw-withdraws-from-brokerage-business-110304-1.html
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www.businesswire.com/news/home/20120702006274/en/Direct-Markets-Announces-Entry-Letter-Intent-Sale
www.theflyonthewall.com/permalinks/entry.php/MKTSid1661512/MKTS-Direct-Markets-enters-into-letter-of-intent-to-sell-Rodman--Renshaw
Direct Markets enters into letter of intent to sell Rodman & Renshaw
Direct Markets Holdings announced that it has entered into a nonbinding letter of intent for the sale of Rodman & Renshaw, LLC, its broker-dealer subsidiary, to an entity controlled by Michael Vasinkevich, one of the Company’s founders and former vice chairman of the board of directors. The closing of the transaction is subject to conditions including the negotiation and execution of a definitive agreement, FINRA approval of the proposed change in control and approval of the transaction by a majority of the disinterested stockholders of the Company. Subject to the satisfaction of these conditions, the transaction is expected to close on or about December 31. The consideration for the purchase will be the assumption of specified liabilities including certain leasehold obligations, accounts payable and future costs and liabilities
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www.marketwatch.com/story/direct-markets-holdings-corp-to-seek-voluntary-delisting-from-nasdaq-2012-09-18
Sept. 18, 2012
Direct Markets Holdings Corp to Seek Voluntary Delisting from NASDAQ
NEW YORK, Sep 18, 2012 (BUSINESS WIRE) -- Direct Markets Holdings Corp. /quotes/zigman/12093993/quotes/nls/mkts MKTS -35.00% (the "Company"), today announced that its Board of Directors (the "Board") has decided to seek a voluntary delisting from the NASDAQ Global Market ("NASDAQ"). The action followed the Board's review of the status of its potential to regain compliance with certain continuing listing standards required by NASDAQ.
On May 22, 2012, the Company received a notification letter from NASDAQ advising the Company that for the 30 consecutive trading days preceding the date of the notice, the bid price of the Company's common stock (the "Common Stock") had closed below the $1.00 per share minimum price required for continued listing on The NASDAQ Global Market pursuant to NASDAQ Marketplace Rule 5450(a)(1) (the "Minimum Bid Price Rule") The notice stated that the Company would be provided 180 calendar days, or until November 19, 2012, to regain compliance with the Minimum Bid Price Rule. To regain compliance, the closing bid price of the Common Stock must be at least $1.00 per share for a minimum of ten consecutive business days prior to that date.
On August 20, 2012, the Company received a notification letter from NASDAQ advising the Company that for the 30 consecutive trading days preceding the date of the notice, the aggregate market value of the publicly held shares ("MVPHS") of the Company's common stock was below the $5,000,000 minimum MVPHS required for continued listing on NASDAQ pursuant to NASDAQ Marketplace Rule 5450(b)(1)(C) (the "MVPHS Rule"). The notice stated that the Company would be provided 180 calendar days, or until February 19, 2013, to regain compliance with the MVPHS Rule. To regain compliance, the MVPHS of the Company's common stock must be $5,000,000 or more for a minimum of ten consecutive business days prior to that date.
On August 29, 2012, the Company received a notification letter from NASDAQ advising it that the Company no longer complies with NASDAQ's audit committee requirements as set forth in NASDAQ Marketplace Rule 5605. The notice stated that pursuant to NASDAQ Marketplace Rule 5605(c)(4) the Company will be provided with the following cure period to regain compliance: (i) until the earlier of the Company's next annual shareholders' meeting or August 21, 2013; or (ii) if the next annual shareholders' meeting is held before February 19, 2013, then the Company must evidence compliance no later than February 19, 2013.
Further, on September 13, 2012, NASDAQ halted trading of the Common Stock following the Company's announcement on September 12, 2012, that the Company's broker-dealer subsidiary, Rodman & Renshaw, LLC, had advised the Financial Industry Regulatory Authority ("FINRA") that it was no longer in compliance with the SEC's Net Capital Rule 15c3-1, and, accordingly, that such subsidiary would cease conducting its securities business, other than liquidating transactions, unless and until it can achieve compliance with the rule. On September 14, 2012, the broker-dealer filed a Form BDW - Uniform Request for Withdrawal of Broker Dealer - with FINRA. Upon acceptance by FINRA, Rodman & Renshaw, LLC's broker dealer license will terminate.
The voluntary decision to delist from NASDAQ was taken following the Board of Director's review of numerous factors including: those set forth above; the applicable NASDAQ rules and regulations; Rule 12-d2-2(c) under the Securities Exchange Act of 1933 (as amended); the Company's current financial condition; the benefits generated by the maintenance of the listing; the significant compliance obligations and restrictions that result from the maintenance of the listing; and the Board's determination that the Company will not be able to regain compliance with applicable continued listing requirements in a timely fashion.
The Company intends to file a Form 25 with the SEC on September 28, 2012 to commence the NASDAQ delisting process. It is expected that the delisting will take effect as of the close of trading on October 8, 2012. Following delisting, the Common Stock will no longer trade on the NASDAQ Capital Market under the symbol "MKTS". The Company believes that quotation of the Common Stock on the OTC Bulletin Board will commence promptly following the delisting, but can give no assurance that the Common Stock will be quoted on the OTC Bulletin Board.
The Company continues to explore options for the commercialization or monetization of its Direct Markets electronic platform and the sale of assets related to its broker-dealer business.
SOURCE: Direct Markets Holdings Corp.
DGI Adam Holdsworth, 212-825-3210
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