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Yep, nice close!
NHLD looked pretty good today.
Some nice action on NHLD earlier today.
I hope so! I was a GTAX shareholder so I'm in. Merger complete.
I think a NHLD pps of .50 will soon be appearing.
a little movement today
Just looked again; big sell about 1/2 hr ago
I think we're going to get there and maybe beyond.
Decent volume again, creating some support. Be nice to move solidly into the .40s in the next couple of weeks
It does appear that the market is beginning to notice NHLD. I think the .50 level is not too far away.
Looks like the market is beginning to notice NHLD
We certainly can't complain about the volume we have had with NHLD.
Yep, looking good!
NHLD is doing well and I think a much higher pps is not too far down the road.
Hi Salty, nice to see NHLD moving up.
I would tend to agree.
I think NHLD just might prove to be a better bet than LTS.
I think a better bet than LTS, since LTS is still losing $$ and Frost is first inline for 8% divi on preferreds. Myabe we should go hawk this over at the LTS board!
Yes it is. I think NHLD is a solid company.
Holding up nicely at this point.
I don't think NHLD is too far away from the .50 level.
I'm thinking that the next quarterly report, not too far away now, will put us up to the .50 level and probably above.
Two big blocks today - one sale, one buy. Looks like the buy absorbed most of the sellers shares.
That would be nice to establish a new base at .40
I'm thinking NHLD moves to or beyond the .40 level today.
We did indeed look good today. I think people just might be coming to the realization that NHLD is a good stock to hold.
Looking good today...
National 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
Financial stocks may be slow movers but when backed up by solid numbers they do tend to go in the proper direction. That will happen here.
Nice to see the sread narrow withe bid rising.
Yeah, this just got popular all of a sudden.
I assume the good news about the quarter is finally getting out and spurring a few to action. It seems to me that owning a financial stock is a lot like a definition I once heard about being in the army. You have long periods of boredom followed by bursts of frantic activity.
All of a sudden it got active. I grabbed the last 7500 at .30 and immediately after (like 4 seconds) someone grabbed 2500 at .3205. I had to check and make sure it wasn't me by mistake! LOL.
I had a bid out for a while but withdrew it when I decided to try to buy something else. Failing there too, thus far.
Salty, did you pick up some more? I did. Didn't hear the call, but read the news. Decent PE ttm and I think it could support a higher forward-looking PE
I'll probably buy a few more shares tomorrow too. Two to four weeks ago, Vector Vest had NHLD valued at .50. I would think the stock would be valued above that now considering the very fine conference call we just listened to.
With what we make on NHLD and the zillions we'll get out of stocks we discuss in The Bank Recovery Room, I guess we can get there in two months. Three at the most. lol
It sounded pretty good to me too. I think NHLD will probably be profitable well into the future.
Salty,You are rich! Information provided on conference call sounded good to me.I plan to add some more shares.
Listening to call now. Sounds good! I'm glad I have a nice little handful of this stock, 10,000 shares.
National Holdings Corporation Reports Fiscal Third Quarter 2013 Results
Business continues to gain momentum with two consecutive quarters of net income and six consecutive quarters of EBITDA
NEW YORK, Aug 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
Mark D. Klein, National Holdings' Chief Executive Officer and Co-Executive Chairman, commented, "We achieved revenue growth of approximately 5%, net income of $0.8 million and our sixth consecutive quarter of EBITDA. The Company's strong performance supports our ongoing business strategy focused on enhancing revenues and improving profitability through shifting to higher margin products and reducing costs. We also signed a definitive agreement to acquire Gilman Ciocia, which we expect to increase our retail brokerage operations to more than 825 registered representatives and expand our products and service offerings. Looking back on a pro forma trailing twelve-month basis, our combined revenues would have been approximately 31% higher with a significantly enhanced adjusted EBITDA. With ample cash and no debt, we remain well positioned financially as we execute our strategy to further expand our business across the retail brokerage, investment banking and institutional sales and market making platforms."
Fiscal Third Quarter 2013 Financial Review
National Holdings reported fiscal third quarter 2013 total revenue of $32.7 million, an increase of 5% from revenue of $31.1 million reported in the fiscal third quarter of 2012.
Glad to have you here. I get the feeling we'll make a little here but certainly not a butt load. I just hope the conference call sounds good.
OK, I've jumped into the pool on this one - OK, just the kiddie pool. Mixed bag of stats, but as an older establsihed company, worth the turn-around possibility.
Salty,I have purchased my shares. I will not forget the conference call.
Don't forget to listen to the conference call tonight. I hope they have a nice report for us.
Salty,
I am going to purchase my few hundred shares of NHLD this morning.I like the company because it is an old established company.That is fighting its way back.I like finding those type of companies on the OTCBB. That stock sold for $11.00 a share in 2001.
According to Scottrade, 51% or 44,943,087 of the outstanding shares of NHLD is owned by insiders and other strategic interests.
Nice to see a little bit of movement here today
NHLD
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Serving independent-minded investors and brokers. Founded in 1947, National Securities Corporation has registered representatives located throughout the United States, and has evolved into one of the country's largest independent broker-dealers. National is small enough to give clients the individualized attention that they deserve, but we have the resources necessary to provide products and services competitive with the very largest firms. Flexibility to meet your needs. Service as it used to be. That's National.
http://www.nationalsecurities.com/default.aspx
National Securities Headquarters
410 Park Avenue
14th Floor
New York, NY 10022
800.742.7730
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