Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Sounds like were just getting started here. That 4.8million buy says it all. See you at .50 cents. Boooyah
Thesis: The volume today is Pre-Material Event volume which is used to get fat cats in first thus when news hits this will go .20-.50+ Hence the tight trading range - orchestrated bid crosses and even a classic late day coded volume cross. When I see this signals means to add.
"The merger is subject to approval by Gilman Ciocias shareholders and customary regulatory approvals. The transaction is expected to close during National Holdings late fiscal fourth quarter or early fiscal first quarter. "
Many large crosses with coded volume crosses below bid. Scaled 8's. Capital players here
GTAX
Strong close. Tight shares. Looking better for rest of week
Ohhhhh yeaaaaa
Gilman Ciocia, Inc., provides federal, state and local taxes preparation services to individuals, predominantly in the middle and upper income tax brackets, accounting services to small and midsize companies and financial planning services, including securities brokerage, investment management services, insurance and financing services. As of June 30, 2012, the Company had 27 offices operating in three states (New York, New Jersey, and Florida). The Company also provides financial planning services through approximately 33 independently owned and operated offices in 10 states.
3 Institutions own 38.02% of the shares. That buy may have been #4. IMO
lol... someone got red carpet treatment.
GTAX just getting started imo! over 10M vol, up almost 50%. gooo bulls
holy cross trade batman.... 4.8mil at .0709
.08s stacking on bid now.
WOWSERS OVER $336,000... GIDDY UP GTAX...
June 21 PR (see bold print) said closing would be late 4th qtr or the first quarter of FY14. We're a few weeks away from the end of the 4th quarter (Sept 30th is the year-end for NHLD)
ational Holdings Corporation Announces Definitive Merger Agreement with Gilman Ciocia
Increases retail brokerage operations to more than 825 registered representatives and expands products and service offerings
NEW YORK & POUGHKEEPSIE, N.Y., Jun 21, 2013 (BUSINESS WIRE) -- --National Holdings' management to host a conference call today at 8:30 A.M. ET
National Holdings Corporation (OTC BB: NHLD) ("National Holdings" or the "Company") and Gilman Ciocia (OTC BB: GTAX) today announced they have entered into a definitive merger agreement to create a diversified investment bank and independent broker-dealer with broad financial product and service offerings catering to retail and institutional clients.
Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, Gilman Ciocia shareholders will receive up to 24.0 million shares of National Holdings common stock. Additionally, the consideration includes the assumption of up to $5.4 million in debt, which is expected to be repaid in full at the closing of the merger.
Mark D. Klein, National Holdings' Chief Executive Officer and Co-Executive Chairman, commented, "This transaction transforms our business and accelerates our growth strategy, focused on driving revenues, improving profitability and enhancing shareholder value. Our merger with Gilman Ciocia, who has been focused on financial planning services and tax preparation for more than 30 years, provides National Holdings with an exciting opportunity to significantly scale our business and strengthen our operations."
Michael Ryan, Chief Executive Officer of Gilman Ciocia, "This merger will allow Gilman Ciocia to continue to focus on its core strengths in the financial services sector, while offering clients a broader array of products and services through National Holdings' platform. National Holding's extensive client relationships and complementary retail brokerage operations supports our strong tax preparation and wealth management businesses."
Following the merger close, the combined company will offer a variety of financial products and services, including retail brokerage, corporate finance, sales and trading, asset management, financial planning, market making, tax preparation, insurance and annuities and research. National Holdings will leverage Gilman Ciocia's leading corporate brand since its founding in 1981 as a highly focused, specialized firm dedicated to providing individuals with the tax preparation and financial planning services. As of March 31, 2013, Gilman Ciocia had 26 Company-owned offices operating in New York, New Jersey and Florida. Gilman Ciocia also provides financial planning services through 26 independently owned and operated offices in eight states.
In addition, following the closing of the merger, the combined company will boast over $9.0 billion in client assets. For the trailing twelve months ended March 31, 2013, consolidated net revenues for National Holdings and Gilman Ciocia were approximately $157.0 million. The Company will continue to be listed on the OTC BB under the ticker NHLD.
The merger is subject to approval by Gilman Ciocia's shareholders and customary regulatory approvals. The transaction is expected to close during National Holding's late fiscal fourth quarter or early fiscal first quarter.
Conference Call
National Holdings and Gilman Ciocia will host a joint conference call to discuss the definitive merger agreement on Friday, June 21, 2013, at 8:30 a.m. ET. To access the teleconference, please dial (706) 902-2067 (domestic and international) approximately ten minutes before the teleconference's scheduled start time and reference ID# 10000728. A live webcast will also be available on the investor relations portion of National Holdings' website at http://www.nhldcorp.com/investors.aspx.
If you are unable to access the live teleconference, a replay will be available beginning approximately two hours after the call's completion and available through June 28, 2013. The teleconference replay can be accessed by dialing (404) 537-3406 (domestic and international) and entering the ID# 10000728. A webcast replay will also be available on the investor relations portion of National Holdings' website at http://www.nhldcorp.com/investors.aspx.
About Gilman Ciocia
Gilman Ciocia, Inc. (OTC BB: GTAX) is a leading provider of federal, state and local tax preparation services with offices in New York, New Jersey, and Florida. Founded in 1982, Gilman Ciocia caters to middle and upper income taxpayers who face an increasingly complicated tax code and must choose from a growing array of investment options. Gilman Ciocia looks at the whole picture - taxes, investments, retirement, insurance, lending, and estate planning,which allows clients to see their entire financial picture and to understand how wise decisions help them keep more of their money, provide them with a healthy and solid financial outlook, and secure their family's future. Gilman Ciocia is headquartered in Poughkeepsie, New York.
About National Holdings Corporation
National Holdings Corporation is a full-service investment banking and asset management firm that provides a range of services, including independent retail brokerage and advisory services, investment banking, institutional sales and trading and equity research, to corporations, institutional investors and high-net-worth clients. With over 1,000 Independent advisors, brokers, traders and sales associates, the Company is a leading Independent Advisor and Broker services company. National Holdings operates through four subsidiaries: National Securities Corporation, vFinance Investments, Inc., National Insurance Corporation and National Asset Management, Inc. The Company was founded in 1947 and is headquartered in New York and Florida. For more information, visit www.nhldcorp.com.
Safe Harbor Statements
This release contains forward-looking statements within the meaning of the federal securities laws. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Information on significant potential risks and uncertainties that may also cause differences includes, but is not limited to, those mentioned by National Holdings from time to time in their filings with the SEC. The words "may," "will," "believe," "estimate," "expect," "plan," "intend," "project," "anticipate," "could," "would," "should," "seek," "continue," "pursue" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. National Holdings undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may be disclosed from time to time in our SEC filings or otherwise, including the factors discussed in Item 1A, Risk Factors, of our Annual Report on Form 10-K and in or periodic reports on Form 10-Q, and, therefore, readers should not place undue reliance on these forward-looking statements.
Additional Information and Where to Find it
National Holdings Corporation will file with the SEC a registration statement on Form S-4 that will include a proxy statement of Gilman Ciocia, Inc. and a prospectus of National Holdings Corporation relating to National Holdings Corporation's proposed acquisition of Gilman Ciocia, Inc. WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION about National Holdings Corporation, Gilman Ciocia, Inc., and the proposed acquisition. Investors and security holders will be able to obtain these materials (when they are available) and other documents filed with the SEC free of charge at the SEC's website, www.sec.gov. In addition, copies of the registration statement and proxy statement/prospectus (when they become available) may be obtained free of charge from National Holdings Corporation and Gilman Ciocia, Inc. Security holders may also read and copy any reports, statements and other information filed by National Holdings Corporation and Gilman Ciocia, Inc. with the SEC, at the SEC public reference room at 100 F Street, N.E., Washington D.C. 20549. Please call the SEC at 1-800-SEC-0330 or visit the SEC's website for further information on its public reference room.
Participants in the Merger Solicitation
National Holdings Corporation, Gilman Ciocia, Inc., and certain of their respective directors, executive officers and other persons may be deemed to be participants in the solicitation of proxies in respect of the proposed acquisition. Information regarding National Holdings Corporation's directors and executive officers is available in National Holdings Corporation's proxy statement filed with the SEC on March 11, 2013 in connection with its 2013 annual meeting of stockholders, and information regarding Gilman Ciocia, Inc.'s directors and executive officers is available in Gilman Ciocia, Inc.'s proxy statement filed with the SEC on November 30, 2012 in connection with its 2012 annual meeting of stockholders. Other information regarding persons who may be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the registration statement and proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.
Non-Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130621005281r1&sid=cmtx6&distro=nx
SOURCE: National Holdings Corporation
CONTACT:
National Holdings Corporation Mark Klein, 212-417-8210 Chief Executive Officer and Co-Chairman Or Robert Fagenson, 212-847-3200 Executive Co-Chairman
Copyright Business Wire 2013
-0-
KEYWORD: United States
North America
New York
INDUSTRY KEYWORD: Professional Services
Banking
Consulting
Finance
SUBJECT CODE: Merger/Acquisition
Conference Call
Webcast
Hello All!
Just got here this morning. Anyone have an idea of when the merger will be completed? Sounds like very soon!
GLTA!
It sure is! GTAX!
Thanks for your mathematics add@ .08
always nice to be ahead of the curve.
Correct this closing has not hit the wires yet, the volume surge today sure confirmed it though..... $GTAX
GTAX consolidating here before next leg up? should be a multi-day runner imo.
if one takes the OS of the other company divided by consolidation number of 157,000,000/88,416,988= $1.77... take that and multiply by conversion of 0.248843451= .44/ GTAX share... sound correct as a minimum range... (NOTE: this hasnt hit most news wires yet:)
Hd which com. do u want to own 24 mill shares of new company
GTAX closing of the merger, the combined company will boast over $9.0 billion in client assets. For the trailing twelve months ended March 31, 2013 , consolidated net revenues for National Holdings and Gilman Ciocia were approximately $157.0 million
http://www.otcmarkets.com/stock/GTAX/news
GTAX Security Details
Share Structure
Market Value1 $5,304,540 a/o Aug 30, 2013
Shares Outstanding 96,446,179 a/o May 14, 2013
GTAX back to .08
GTAX setting up to be a monster play imo.
The acquisition of Gilman will enable National Holdings to increase its rep count to over 825 advisers with over $ 9 billion in client assets and over $1.3 billion in RIA assets.
We now are able to add more recurring revenues from managed monies and packaged products to further counterbalance more cyclical and must be transactional revenue.
Potentially, enabling greater leverage and savings to a consolidated NFS relationship and approach.
We will be able to expand our business lines into tax prep and bring in needed personnel in areas such as insurance and mutual funds.
We believe that we will achieve cost savings through reduction of duplicative public company expenses, personnel, occupancy, systems and process redundancy.
Details about the cost savings, including areas and amounts are still being analyzed and will be communicated the later date. As a reminder, National has already implemented material cost savings initiatives, lowering costs by approximately $3 million annually since last July.
As a recap, the merged company will now have $9 billion in assets and increase of 57 percent over where National was prior to the merger.
For the trailing 12 months ended March 31, 2013, our consolidated revenues would be $157 million which is 30 percent higher than the 119 that National had. Our RIA assets will increase by about 30 percent to 1.3 billion and a registered rep count will increase 21 percent to 825 reps from 680.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9367800
$GTAX why DDAMANDA is so useful ... see June 21st Factor of 83 with first major volume day ... some quiet days and some large volume days between then and now, MOSTLY AT OR NEAR 0.055, clearly indicating large fund/$$ crosses in preparation for something BIG...and now we see the major breakout today after $200K worth of crosses BETWEEN 0.054 and 0.055 (tight organized crosses) last Thurs/Fri combo ... if you haven't checked out DDAMANDA, you need to...best otc trading tool I have ever used...when you know what to look for...
GTAX, very nice move..!!
9 billion is HUGE... it will be interesting what L2 looks like after .095ss are cleared out...
GTAX .095s up on ask going on merger news
breakout volume today... .09s falling Giddy Up GTAX... EDIT 9ss about gone...
GTAX/NHLD Merger! Take a look at NHLD 3rd Quarter Fiscal Results!
National Holdings Corporation Reports Fiscal Third Quarter 2013 Results
4:01p ET August 13, 2013 (Business Wire)
--Year to date net income of $1.3 million compared with a net loss of $2.2 million in the same period last year
--Announced definitive agreement to acquire Gilman Ciocia in June 2013
National Holdings Corporation (OTC BB: NHLD) ("National Holdings" or the "Company"), a full-service investment banking and asset management firm, today announced financial results for the Company's fiscal third quarter and nine months ended June 30, 2013.
Fiscal Third Quarter and Year-to-Date Highlights
-- Increased revenues by approximately 5% to $32.7 million, compared with revenues of $31.1 million in the prior year quarter
-- Generated net income of $0.8 million, or $0.01 per diluted share and $1.3 million, or $0.02 per diluted share for the fiscal third quarter and nine months ended June 30, 2013, compared with $0.7 million, or $0.02 per diluted share and a loss of $2.2 million, or $0.09 per diluted share for the same periods last year
-- Reported Adjusted EBITDA, a non-GAAP measure, of $1.2 million and $2.9 million for the fiscal third quarter and nine months ended June 30, 2013, compared with $1.2 million and $1.3 million for the same periods last year
-- Signed a definitive agreement to acquire Gilman Ciocia in a stock transaction, which will further strengthen National Holdings' retail brokerage and enhances the Company's platform in the area of financial planning services and tax preparation
there went 100,000 shares at .083
when she BREAKS it will fly!!!!!
GTAX huge buys going thru
GTAX closing of the merger, the combined company will boast over $9.0 billion in client assets. For the trailing twelve months ended March 31, 2013 , consolidated net revenues for National Holdings and Gilman Ciocia were approximately $157.0 million
http://www.otcmarkets.com/stock/GTAX/news
GTAX Security Details
Share Structure
Market Value1 $5,304,540 a/o Aug 30, 2013
Shares Outstanding 96,446,179 a/o May 14, 2013
I took in some .083's common NITE FALLL!!!!!!!!!!!!!!!!!!!!!! GTAX
Must be investment bankers hitting, huge blocks, 800k, 700k, 500k, 300, 150k..... $GTAX
Followers
|
6
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
163
|
Created
|
11/25/08
|
Type
|
Free
|
Moderators |
Individuals may sign up for the free workshops listed above by visiting the company’s Website: www.gtax.com/seminars or by calling 1.800.TAX.TEAM.
About Gilman Ciocia, Inc.
Gilman Ciocia, Inc. is a leading provider of federal, state and local tax preparation services with offices in New York, New Jersey, and Florida. Founded in 1982, Gilman Ciocia caters to middle and upper income taxpayers who face an increasingly complicated tax code and must choose from a growing array of investment options. Gilman Ciocia is a member of the National Association of Tax Professionals and is recognized among the Top 40 accounting firms nationwide in 2006 by Accounting Today Magazine. Visit www.gtax.com or call 1-800-TAX-TEAM for more information and to find the office closest to you.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |