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Right on that . is to bring value and make it easy to a company to go public . People are in panic because of RS they have til August to have the price over $1 . the RS is too bring value to the merger of one company listed and the other one wanted to go public , clear ! great Dragon52 U are helping with another opinion . I agree
If this was just a regular RS to bring share pricing up...
I would be cautious about this one. Still cautious but, the reasoning to prop up the pricing is adding value to the merger and adding AG assets to the mix. There is more to this than just doing a RS to keep pricing above market requirements. Not to mention this will be a different company with a viable product that has been tested. A lot of potential here and cheap.
Right now MM's are waiting for sellers so they can cover...
the more sellers and shares are brought in at these prices, the less work they have to do since sellers are giving away shares at these pricing. no guts no glory as they say.
This will probably finalize no sooner than end of the month or mid-month but not immediate, since they have to get approval from the SEC and NYSE for the merger.
unjustified drop of price Imo RS scared soft hands I see a lot of buyers and big positions taking place since this morning price wanted to push up but I see MM work . where do U see the PS going before merger completes and RS . If price goes up more PS after RS.
it will happen when the merger is about to be completed giving both sides new shares of the new company.
Right now I see MM's trying to scramble in covering their short sells before the new name and symbol change takes place. Once that happens their shares they used will have to come from some place or lose it entirely.
you are doing great job catching in right Dragon 52, thumbs up . What I understand is that RS will happen before the merger is finished?right. Is in their convenience any way that the price goes above the current levels before the events RS & Merger. Interesting the point of after the deal is done with share reduction and valuation it will be better if let the market dictate the right price and with some kind of PR and just by an industry that is taking its shape and developing the industry has not even a price in yet
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding 10,321,397 at September 30, 2017 and 8,423,936 at December 31, 2016, respectively.
Yet, there is approx 12 Mil in the float?... volume has traded 8xs what is available in the last 3 days... and ENRJ will dodge the bullet. lol
Shares of EnerJex common stock are currently listed on the NYSE American under the symbol “ENRJ.” Prior to completion of the Merger, the parties intend to file a listing application with the NYSE American relating to the combined company. After completion of the Merger, EnerJex will be renamed “AgEagle Aerial Systems, Inc.” and expects to continue to trade on the NYSE American under the symbol “[?].”
Name change is in the wind... guess was correct.
250,000,000 Authorized shares (Taken from last 10Q), divided by 25 will give this a 10,000,000 Auth cap, should this RS come forth. Obviously 10 Mil will not be all sent out to graze but imo possibly 50% at best. 25 x ? price upon merger completion will dictate what the going pricing will be... Should this close near $1 by the time merger is finished, pricing will be epic even with the RS imbedded, but here is the kicker... the RS might not even happen. Share reduction amongst the two companies and valuation might dictate no need once merger is complete and name is changed. It could move to $4 - $5+ on it's own.
Huge potential here... though the RS is hard pill to swallow, the valuation is what will keep this afloat.
Of course this is all jmo, but the big picture is already drawn.
RE: Dicer666 Good point. This company hasn't been subject to Fed's SEC accounting and Class Action Lawsuits. There are several institutional investors (7 at last count) small per centage of shares out of the millions but several hundred thousand shares that have lawyers working for them. Not a terrible valuation. About 25 to 30% high but it will play out like an ipo except for the nerve factor coming out pf the gate. Low ball offers may well dip the price but maybe it goes on to 10 bucks
“The Company plans to conduct a 25 for 1 reverse stock split,” Key word here is “plans”. It didn’t say “will”. I know it’s long shot, but they could change their mind.
Nokimis called it. Appears as you said and when you said it. Slow walk up may be a blessing. Fingers crossed. Been fooled before but this one was so completely bombed out, I think it might turn into a green butterfly
Nokomis I agree. .29 to .3 is good support here. I was going to add to a position in CHKR but if ENRJ gets to a base here, I will probably increase my stake here instead
RE: Nokomis Still above Claytrader's .25 call and he is very bullish. Thinking the short term speculators are selling off. HOPING that is what is happening. Tried to get a handle on valuations with sketchy info but I believe shareholders will benefit more by riding the merger especially if AG Eagle will be selling their oilfields
"Not"stradamus. Have to change my handle. Much of my occupation involves thought experiments of why an what ifs. AG Eagle filed to go public then withdrew and agreed to all of the ENRJ biz. Why is a drone company buying an oil company...only thing that makes sense to me. ENRJ is worth much more than they are getting it for
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