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Any word on the web site, and if Skins will be attending the WSA show in Vegas?
I definitely did not mean you any harm. I apologize. I did not know about the policy. It is rather strange (even to you, I'm sure) that both events happened at the same time. I would never have even assumed it if they did not happen so eerily close to each other. My bad.
P.S. Even if my assumption were true, it would have meant no harm to you. I was implying that maybe the company did not want old images, etc. up when the new website launches. That was my reasoning behind it--not that you were doing anything wrong. But it's not true, so no worries!
FaithfulAndTrue...
Please, I mean you no harm and I think you mean me no harm either, but please let's not make such assumptions. With all due respect, the website being down has nothing to do with me not being a Moderator here anymore. I was not even aware of such. I was removed from being a Moderator because of me not posting here for over a period of 90 days. Any period of posting inactivity from anyone that's a Moderator automatically removes you based on IHub's policy. Heck, I just realized I was removed.
v/r
Sterling
Whoa there. The sales from the last report do not just disappear. They were not much to be proud of ($32,125), but it was more than "no" or "0" sales. And those sales were made before the bulk of the launch of the spring/summer collection (which means more sales will be on the upcoming report in August*).
*The sales will not be reported before the next 10Q.
The vanishing of the moderator was, however, as mentioned, well timed with the vanishing of the website. If I had a guess, I would say that the company had something to do with the disappearance of what was once on this page and the moderator. Too much of a coincidence.
I sure wish the word problems I had in school were that easy. Even I can add 0 + 0 + 0 + 0 = ?
Yup, We got them just where we want them. Any more good news??
No moderator, no website, no news, no sales, no presence, no response from IR........
It all adds up.
Logic, you get my vote.Once we start to go up, someone is going to have to moderate the board.
When did our moderator un-moderate?
I never expected this. I thought that after the spring shoes were delivered, we would slowly start to go up, on the larger fall deliveries. Very frustrated. We need some pr, let us know that skins is alive, if not kicking.
any idea how much lower this will go before we get a pr... jesus
Wow, itlogic, see minar is still up to there old tricks-reconranger
The beauty of JED's deal is that (if we have the whole thing correct) they have 6 million shares at a bit over 2 cents. They can sell those and then buy back whatever they want using the convertible debentures at the 65% discount.
I think actually short selling against the convertible debentures would be illegal, though I'm not positive and there may well be ways to work around it.
On the plus side, JED doesn't benefit if the company goes under, at least as long as they still hold debentures and/or equity, so they have a good reason to keep funding, but since it will probably require more debentures at large discounts it COULD lead to a "death spiral".
IMHO what you want to hope for is JED or another large investor decides the company will become successful and they hold their positions, i.e. don't sell and invest enough to keep the company operating. I think that will lead to very little volume, but if the company comes through, it would eventually lift the price significantly. Of course, IMHO, that's a very long shot.
Nice, you said it better than I would have. If JED is shorting as well, it lowers the price of the convertible shares, so, without any updates or developments from the company, the bottom is anyone's guess.
Sorry, but I think it's just more wishful thinking. Anyone could be selling, but it's a lack of buyers that cause the problems. In addition to the 6 million shares, JED has a bunch of outstanding convertible debentures that are priced at a 65% discount to the price looking backward, so the only way they can lose out is if the price falls more than 65% after they convert. If they find a way to short those shares against the converted debentures then they can't lose.
It's always possible that there's a large seller that wants out and that's "holding back the price", but in the end, company performance is what matters. Right now the company is IMHO struggling with getting product out, getting the website up, getting some recognition of the concept and paying expenses. They are funding through very expensive and dilutive debentures. If they can get some good results it won't matter what JED does and if they can't, all the sellers could pull their shares and you'd just end up with no volume.
It's all about performance and in particular, financial results, IMHO.
Ok, so how does this sound. Per this discussion:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38207050
We determined that JED converted 130k of debt into over 6 million shares at .02 a share. That being the case, would this decent be caused by JED dumping those shares? Now that we are at .02, or there about, could that be because they have just about sold all of it which brought us down to this level? If so, maybe this pressure will release itself?
This management team is definately nothing to be proud of. The product could pretty much sell itself, without them as a hinderance.
OR, Maybe not.
i sure would feel better if they would get the web site up and accepting orders.
at over $100/pair it wouldn't take all that many orders to start some cashflow.
the ceo should be embarrassed that while reportedly drawing a salary of $5,000 per week, he can't update his homepage.
probably has to work on his short game or something...
Only if you're a shareholder and not a buyer on the "green" if it turns "red" later.
Either way, IMHO, small volume moves in either direction (less than $10k in trades, even for a thinly traded stock like Skins), are at best meaningless, and at worst deceptive.
Green is better than red.
$6,000 in trades all day, $4,500 at the bid (flat) and about $1,500 most recently at the ask (moving up).
I wouldn't read too much into it, IMHO.
That's what I'm saying. It would be nice to hear they raise capital buy selling shoes, not converting stock.
That seems very unlikely to me. They incurred SG&A costs of over $1 million last quarter and current liabilities almost doubled to $2.8 million.
If I were a shareholder, I'd like to see a cash infusion that came either from normal (non-convertible) debt and/or equity at a modest discount (or better, none) to the current fixed price and/or warrants/options at a strike price above the current PPS.
It's hard to produce and sell anything without at least modest amounts of cash available. I give management a lot of credit for effort (though if they company ultimately fails, they will take the largest financial hit, both in stock and compensation), but being in this financial position is hard in any economy, but in this one, it may be simply impossible.
All MHO.
Yeah let's see if we get a PR by close Friday now.
Agreed. What would be really nice is to see the next cash infusion actually come from the sales of shoes. I hate to sound synical, but lately I've forgotten what the business model is. Do we make money by converting stock or selling shoes?
That's what I had heard, also. When they are in negotiations regarding financing, The company cannot issue any Info, until the financing is finished. I hope so, because this silence makes no sense, and is killing the price.
You're welcome. Happy to help out. Keep watching the filings, it will be very interesting to see where next cash infusions, if required, come from, IMHO.
Good question. I think when certain transactions are taking place, there is a news halt. At least that's what I was told once. So, I wonder if all this recent activity falls under the financing rules. I really have no idea, but I hope that's the case. It would explain the silence.
Filing 4s and S1s IMHO is trivial. Even the big reports like 10Qs and 10Ks don't prevent companies from running their businesses normally. If anything, I could see it affecting the CFO, but certainly not operations or sales.
I agree, just threw me off being an ammendment. Thanks for looking at it and helping me.
Could all these filings be the reason we haven't heard anything from the company? We were getting some fluffy Prs about sales and then, a screeching halt. Maybe when all the sec stuff is finally completed, for now, they will get the website up.
The first amendment (6/12) was to add the new information about the gift which was only done a week earlier. I'm not even sure why the form was an amendment and not a new filing. The second amendment (6/15) was to correct the gift from a disposition from an acquisition.
At least that's what I think. I have no idea why the first amendment was not a new filing, but I don't think it has any bearing on the intent or legitimacy.
Yeah looks like they just cancelled that last S-1 registration so they could refile a new one at .03 instead of the higher PPS in the original one.
As for the form 4, I was confused. It isn't a new form 4 it is ammended from March. There isn't some time limit to ammend a filing? 2 months seems like a long time to go back and ammend something.
I believe MK gave away 2.3 million shares. The original filing showed him acquiring 2.3 million as a gift which didn't make a lot of sense. This amended filing changed it to disposing of 2.3 million shares as a gift.
As for the registration, I believe Tangiers gets stock at a 10% discount. This simply updates the registration to indicate the value of the newly registered stock is reduced.
At least that's what I think these filings mean.
It looks to me as though Mark Klein was given stock options for salary and incentive (who knows what for) in Feb, and unloaded just over 2.3M this month.
The registration of 22M shares at 0.05 in May was cancelled, due to the declining share price, and an new registration for 24M at 0.03 was filed.
This company needs a new management team if anything is to ever become of Skins.
Have you guys been keeping up with the SEC filings? They have filed several things this month, some today. I'm trying to comprehend it all, but it's alot to take in all at once. Looks like Mark bought more shares at .05, but it's an ammended form 4. Also more news on JED and Tangiers buy ing shares, converting shares or whatever is going on. If anyone is interested in explaining all of it in normal peoples language, it would be appreciated.
That's pretty much it in a nut shell.
Your week to? Sell? Order a pair of skins? Ask the company what "coming soon" means? Smack faith upside the head?
Yes, Its that time again. Next week will be our week.
Every day is like ground hogs day, in quicksand. So frustrating.
We will know, soon enough. I beleive that they will get out of the gate. It should all start with the new web site, and then the fall deliveries. That is what Im waiting on. Good luck.
Is this thing done already? I thought they would at least get out of the gate.
I sure hope its soon.
8k and 4a are out. We should start hearing some news, NEXT WEEK.(lol)
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