Electrum Special Acquisition Corp (fka ELECW)

[Smilin_B]

Can i get a stock quote on this warrant?

Ihub appears to have removed the quotation portion

Hmmm...

??

[Smilin_B]

Lol

[Smilin_B]

In English please?

[z1z2z3]

lmao pathetic scum is also a sensitive? who woulda guessed. wahhhhh

[Smilin_B]

ELECW is simply going to be valueless just like the 10-q report stated.

Not sure what all the confusion or anger is about.

This warrant is no longer going to exist at some point next week or the week after

[z1z2z3]

.10 up 1,370% lol

[LowFloatLopes]

Dude I could give a shit less my gem just got its merger news Friday I would gladly donate my warrants here if I could ...

[LowFloatLopes]

One of these days we’re going to get some buying pressure and this will shoot to five cents

[LowFloatLopes]

I thought this doesn’t trade pre market? Already a buy at 8:26 ?

[EZEKIEL]

Down, Down, Down

[LowFloatLopes]

Some big blocks being purchased

[TRAPPER JIM]

They almost all bounce

[LowFloatLopes]

That’s why I’m certain of another bounce to .02-.03 before June

[DeafTrader2]

That's sad enough to buy and get stuck .

ELECW is not a good ticker.


Wont bank you some money at all.


Warrants is for very long holding but will get poof'd soon

[TRAPPER JIM]

It can't get any thinner than that

[TRAPPER JIM]

C'mon somebody hit the ask

[Cavetree]

Anyone else see a 199999.99 on the ask. Lol

[Smilin_B]

Evidentally "the company itself" DIDNT file a formal 8k filing indicating that the liquidation extension was cancelled.

Obviously they notified their proxy firm Morrows Sodali. I never requested information concerning whether or not the Special Meeting to extend the liquidation of ELEC would be granted or not. I never asked such a question. Morrows Sodali made a statement within the body of their email response indicating that the meeting was cancelled and the liquidation would be moving forward. They also indicated that the warrants wood be valueless post liquidation.

Naturally that statement was very disconcerting and it went against everything all of the hyperbole spinners were spinning on Friday, Saturday, Sunday and Monday morning.

Why would I, in good conscience, refrain from posting the most up-to-date information as expeditiously as I could?

I'm not certain if you were present moments after I pasted the email, but I was immediately accosted and threatened by several individuals here, stating that the email was fake and that if it could not be confirmed, there would be hell to pay for me etc etc ad nauseum. One by one, as individuals began confirming that the contents of the email was true & the sender was vetted, they started selling the warrants down.

I do not short sell penny stocks or penny warrants. Im not set up to do so. I did not profit from the rapid descent of the warrant price that ensued after the truth had been disseminated.

By Nature, I am a bottom bounce trader. I seek stocks that typically fall anywhere from 50% - 90% in a single session, regardless of the reason. ELECW just so happened to have fallen below 60% and I purchased warrants at around that level and sold them on a bounce.

There is nothing illegal or immoral about doing so. Everyone here appeared to be highly upset and accusing me of falsifying an email which I did not falsify. I get it. The hyperbole spinners were upset that their version of what they were spinning since last Friday was 100% inaccurate and one by one, they themselves began selling.

Then the bashing continued against me and my character, for merely pasting the most up-to-date and relevant information that ANY OF YOU could have and would have received if only you conducted basic due diligence and emailed Morrows Sodali. After all, they are the point of contact listed in filings with the SEC. The information you would have obtained would have been identical to the information I received, even though I did not ask to receive any information about the special meeting being extended or cancelled.

So yes, I am definitely owed an apology by all of those individuals that's told me that the email was a fraud/hoax/lie etc.

It wasnt. And shortly after receiving that initial email, a second email came in from the vice president of the proxy division essentially stating the exact same thing as the first email. And AGAIN, providing me an answer to a question I never asked.

I believe I posted that email as well on Monday and it has been posted many times thereafter.

Those that are very bitter that the special meeting to extend the liquidation has been cancelled, I just angry and they attempted to shoot the messenger.

False allegations of Insider information were tossed at me as if I had requested information that was non-public.

Please scroll back through the posts from Tuesday, Wednesday and Thursday and you will clearly see that other forum participants performed their own vetting and validation by submitting their own questions to Morrows Sodali. They then posted the email response provided to them from Morrows Sodali and guess what? It MIRRORED the information provided to me, that I didn't even request, on Monday.

So now I pose the obvious question: " is everyone that emails Morrows Sodali and receives the very same answer I did on Monday that the company is moving forward with the liquidation, the special meeting has been canceled and the warrants will be deemed valueless by or shortly after the June 5th deadline - be found guilty???" Or is it just me... because perhaps I was just one of the first individuals that firm sent information out to.

If it was one of you that received the email and had a difference of opinion of all of those spinning hyperbole since Friday of last week, why would you allow unsuspecting investors to continue purchasing warrants that you new would definitely be valueless based upon the most up-to-date email received?

THAT'S WRONG on so many levels, yet I'm the bad guy?

So yes, I deserve an apology

[Ipeeinpools]

Your def not owed any apology....the emails dont change how you PLAYED those emails. Since the company itself didnt publicy announce that information, this warrant would have run for everybody except you...you sold all your shares (.04 if i remember correctly right?) and then bought in again when it dipped.

[Smilin_B]

Anyone seen PapaBear or TheApostle around since they were proven wrong by Morrows Sodali on Monday

aaaand Tuesday

aaaand Wednesday

aaaand again in today's email to another forum poster - all of which contain the exact same information post it on Monday morning.

Hmmm, I guess it's now illegal to post email responses from the likes of investor relations, a company itself or a company affiliated with a company itself!!

.... especially email responses answering questions that were not even asked of them

[Acheron]

Thank you I appreciate he insight.

[Smilin_B]

So what about the multitude of emails now being fielded by Morrows Sodali ?

Are you reading them?

There is no difference between the email response I received on Monday and those that are being received by warrant and shareholders on Tuesday, Wednesday and today - yet the company (ELEC) has not filed a formal filing with the SEC, nor am I even certain they are required to. That's not my area of expertise and not my concern.

[Smilin_B]

Interesting email. That's pretty much the same response I got from them on Monday morning, yet many became very upset about the news and somehow I caught the blame. There's absolutely no difference between the email you received today (3 days later) and the one I received Monday morning.

The most interesting part about all of this is that I never asked them if they were filing for an extension of the liquidation. My email to them was very specific. I asked them if the ELECW warrants would have any value once the company liquidated its assets and performed the shareholder redemption.

You can clearly see that they not only answered my basic question, but also advised me that the company had canceled its special meeting to approve an extension.

And again, I did not request such information. But now, others are emailing the company to request this specific information and they are still providing the SAME response I received Monday

I am definitely owed an apology by everyone

[GBXmas]

I still have hope there is a chance to make some money on this warrant.. In your opinion do you feel that the stock will still be trading after June 5?

This is the email I received this morning…



The original expiration date of these warrants was 6-16-2020. This Company ( A Special Purpose Acquisition Corporation or SPAC), has a deadline to secure a merger partner of June 5, 2018. The Company has not secured a merger partner and has issued a press release saying they will be liquidating on or before June 5 (SEC filing attached).



I hope this information is helpful.



Morrow Sodali LLC

[Smilin_B]

Feel free to read through the 10Q , pre 14a and 8-k filings to verify that ELEC informed the public that the warrants would have a zero value post liquidation (June 5th)

https://www.nasdaq.com/symbol/elec/sec-filings

[Smilin_B]

The "stock" ( which isn't a stock at all, it's a warrant) has been on a substantial downtrend for quite some time ever since the company filed their 10-Q and 8K reports indicating that the company itself would be undergoing a liquidation and shareholder redemption.

"The redemption of the public shares will be completed within ten (10) business days after June 5, 2018."

According to the Pre 14a filing that was out in April,,,,,

"There will be no distribution from the trust account with respect to Electrum’s warrants, which will expire worthless in the event we wind up."

So according to Morrows Sodali (see emails that I and other posters received), ELEC has cancelled their special meeting to extend the liquidation, so these ELECW warrants' days are literally numbered.

They are still tradable as you can very well see, but in accordance with the corporate phylakes, they will have a zero value shortly after the company itself liquidates.

[Smilin_B]

Email from this morning further establishes the previous statement that the special meeting to extend the liquidation date of the company, has been cancelled.

Again, all of this can be verified simply by contacting Morrows Sodali. Contact information for both parties is below as well as in my previous post.

Caveat Emptor...

************************************************


From: Jerry Comer
Sent: Thursday, May 17, 10:26 AM
Subject: RE: ELEC/ELECW proxy


As far as we know the meeting will not be rescheduled and the company will liquidate.
 

Jerry Comer Vice President - Proxy
470 West Ave., Suite 3000, Stamford, CT 06902
T 203-658-9380
M 475-232-9820
[e-mail]
www.morrowsodali.com     NEW YORK | LONDON | SYDNEY | STAMFORD | BEIJING | JOHANNESBURG | MADRID | MEXICO CITY | PARIS | ROME | SAO PAULO


Sent: Thursday, May 17, 2018 10:24 AM
To: Jerry Comer <[e-mail]>
Subject: Re: ELEC/ELECW proxy
 
Thank you Mr. Comer
Is there any chance that the Special Meeting will be rescheduled, or is it a permanent decision of cancellation?  Will the company be formally issuing an update concerning the cancellation by way of an 8K filing or Press Release?
Thanks

[Smilin_B]

We have been informed that Electrum has decided not to go ahead with a Special Meeting to extend the life of the SPAC. As a result, Electrum will liquidate, thus the warrants will have no value once the liquidation happens. Attached is the SEC filing announcing the liquidation.
 

Morrow Sodali


Jerry Mucha Chief Administrative Officer - US?

470 West Ave., Suite 3000, Stamford, CT 06902
T 203-658-9427
M 203-979-4268
[e-mail]

www.morrowsodali.com

[LowFloatLopes]

Just my gut feeling and there still some big blocks being picked up for a reason I could be dead wrong but I only threw in what I was willing to lose here just to see if my gut is right

[Acheron]

So why exactly is this stock so far down right now any insight here?

[Ipeeinpools]

I dipped out at the penny mark, but still watching to see what this does.

What makes you think next week will be interesting?

[Smilin_B]

ELECW -26.3% so far, on the session.

Just a small snippet from the 10Q

If the Company does not complete the Business Combination, then the Private Placement Warrants proceeds will be part of the liquidation distribution to the public shareholders and the Private Placement Warrants will expire worthless.

[LowFloatLopes]

Next week is going to be interesting to say the least and couldn’t help but average down to a penny today 75,000 shares at .0103

[Smilin_B]

I meant to say the company's decision to cancel the special meeting, not move forward with it.

In any event, it appears as if ELEC isn't conducting the special meeting to extend the liquidation. Therefore the liquidation will move forward and, just as it was stated in the last 10 Q filing, the warrants will become valueless.

[LowFloatLopes]

I’m guessing no one has spoken to management today then?

[Smilin_B]

I followed up today with Morrows Sodali and , again, pretty much received the same information they sent me on Monday morning.

I emailed them earlier asking if there had been any changes concerning the company's decision to move forward with the special meeting or re-schedule it.

You can see my email below:

Sent: Thursday, May 17, 2018 10:24 AM
To: Jerry Comer <[e-mail]>
Subject: Re: ELEC/ELECW proxy
 
Thank you Mr. Comer
Is there any chance that the Special Meeting will be rescheduled, or is it a permanent decision of cancellation?  Will the company be formally issuing an update concerning the cancellation by way of an 8K filing or Press Release?
Thanks

[LowFloatLopes]

Anyone talk to the company today

[Smilin_B]

Another email from the VP @ Morrows Sodali

From: Jerry Comer
Sent: Thursday, May 17, 10:26 AM
Subject: RE: ELEC/ELECW proxy


As far as we know the meeting will not be rescheduled and the company will liquidate.
 

Jerry Comer Vice President - Proxy
470 West Ave., Suite 3000, Stamford, CT 06902
T 203-658-9380
M 475-232-9820
[e-mail]
www.morrowsodali.com     NEW YORK | LONDON | SYDNEY | STAMFORD | BEIJING | JOHANNESBURG | MADRID | MEXICO CITY | PARIS | ROME | SAO PAULO

[LowFloatLopes]

Anyone see that pre market action

[Smilin_B]

I don't know how many times I need to keep repeating the very fact that there is no such thing as "pre-market" action on a stock warrant.

The market just opened and ELECW is DOWN an additional 23% so far today as continued confirmation of the special meeting to extend the liquidation, has been CANCELLED.

What's extremely interesting is that this information has still not been issued in the form of an 8K filing yet Morrows Sodali continues to respond to any shareholder that emails them.

I take it that by now you've emailed them to confirm that my due diligence was in fact correct and verifiable.

[LowFloatLopes]

Pre market action ?

[Smilin_B]

The ELEC special meeting has been cancelled. The 8K announcing Electrum’s liquidation is attached. Once the liquidation occurs the warrants will have no value.


Jerry Comer


Jerry ComerVice President - Proxy?

470 West Ave., Suite 3000, Stamford, CT 06902
T 203-658-9380
M 475-232-9820
[e-mail]

[Smilin_B]

No bounce

[Smilin_B]

See?

Even two days after the original email was sent, Morrows Sodali is STILL responding to shareholder concerns and reconfirming that the special meeting for an extension has been cancelled.

No 8k filed by the company on it.

Maybe none was necessary.

Hell, companies are issuing tweets with all kinds of updates and not filing each one with the SEC.

So now what? Is everybody that emails the company and gets the same response I did, going to be in big big trouble?

Lol

Nope

[GBXmas]

I emailed the below noted email address regarding the expiry date of ELECW.. please see the responce.

[e-mail]


Greg,



Electrum will not be holding an extension meeting. A copy of the 8K announcing Electrum’s liquidation is attached.



Jerry Comer





Jerry Comer
Vice President - Proxy

[ologun]

They did.
The last 8k stated just that. But in the most obscure and twisted way imaginable. Even I had to email to verify my interpretation

That is WHY it tanked when it was filed.

Read the 8k. It says they default to liquidation as outlined in previous filing

[Smilin_B]

What is interesting here is if the company itself is also confirming that they are not moving forward with the special meeting to extend the liquidation time frame, yet they are not filing this information on a form 8-k and are communicating this with shareholders, then they themselves maybe in direct violation with reg FD.

This ought to be interesting.

Regardless, so many companies post updates to shareholders on Twitter and not via an 8K filing, so these issues have become quite confusing to say the least

[GBXmas]

Hey thanks for the info.. can you provide me the email address.. I cant seem to find one.

[Smilin_B]

Really?

I see ELECW is -42.9% on the session.

What would be your specific reasoning as to a catalyst that could bounce the shares ahead of these warrants expiring worthless by June 5th?

[Smilin_B]

What specifically was it that you just confirmed and with whom?

Certain individuals here like to see validation. I provided the validation and I'm certain you will be requested to do so as well.

Of course, you don't have to provide anything.