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He said it may take one or two quarters to get everything worked out.
One or two quarters? That's a joke...untill then our money is frozen? What a BS!!!
Yes. That number used to be valid. As I said, they have changed their number. The number I actually called today to get through to Seth after reading your post was from their initial PR which was (646) 330-5851 which now forwards to their new number 347-532-5894. Don't know why they neglected to forward all the numbers.
http://ih.advfn.com/p.php?pid=nmona&article=49366613
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I used the number you gave the board.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68013388
That is the wrong phone number. I just called and talked to Seth Burroughs. His new number is 347-532-5894. They changed the phone number and have the old numbers forwarded to that number. The old number I had, 646-330-5851 forwards to the new number. I think the number you used is a general office building number and it does not forward.
I asked him about the trading or lack of it. He said there is only about 140,000 shares in the float right now and no one wants to sell yet. They are working on the small float problem as we speak and are going through the SEC process of registering shares from Isaac Mizrah to increase the float. He also said that they have been advised not to take on just any Market Makers (besides NITE) to trade the stock. They have relationships with some solid banking institutions such as Goldman Sachs, and want certain Market Makers to trade the stock, not just the usual bulletin board MM's. He said it may take one or two quarters to get everything worked out.
Only thing to do now is to hold our stock and see what transpires over the next few months.
New number again for Seth Burroughs - 347-532-5894
correct.
It's a little unsettling when a company clams up like this and there's no information available. It has to be a legal matter...perhaps FINRA can give us a clue.
So what can we do? Only wait what happens in the future...
FYI- I called 347-727-2483 (Seth Burroughs) today to ask about the trading delay and got a recording saying "we're sorry the party you are calling is not accepting phone calls at this time".
hmmmmm...something smells in Denmark.
Ya the delay in trading is a mystery.
As far as an opening pps goes I showed the last trade Sept. 30th to be .009 which would mean it would resume at $4.68...but in the PR they showed the last trade to be .01 which means $5.20.
I don't know how they could arrive at any other numbers. Once it opens at $5.20 then "Mr. Market" will take over and it's anybodies guess where it will settle.
The only question is, when will it start trading, again and at what PPS?
You're on the right track slaz. The R/S was predictable and neccessary and in this case needs to be viewed in the positive. Normally a reverse split sends Ihub traders running for the isles like the theatre just caught on fire but this is one that was done for the legit/right reasons. And something that never gets appreciated nor discussed on Ihub is that it lowers the fees companies pay on every stock transaction to the transfer agent. Why pay high fees simply because of your SS if you don't have to - right! It may seem trivial to some but it's not.
The 2 biggest reasons for this R/S was it gives them more negotiating power on future deals such as licensing agreements and it puts the stock price within reach of institutional buyers who cannot (and will not) buy stocks below a $5 pps.
This very experienced management team has very good data on what they can expect regarding sales via QVC. They have a proven recipe business model that they're putting together here.
What do you make of them radically decreasing the A/S from 200 million to 25 million? One of the reasons stated for enacting the R/S was to dramatically decrease the O/S while at the same time still having 200 million shares available in the A/S for merger/acquisition/expansion purposes. Now there are only 5 million in the O/S and just 25 million in the A/S. They (the company) stated in the filing for A/S reduction to 25 million, that the company believes that even with slashing the A/S to 25 million, they will have enough shares and capital to complete their business plans. Seems to me they are counting on revenues (profits) coming in to negate the necessity of issuing any shares in the future thus limiting any dilution that would come from lack of funds to maintain operations and expansion.
It's Day 35 and still no trading...frankly I'm out of ideas why that is guys...I haven't seen this happen before...so once again we will see what next Monday brings eh!
...have a good w/e everyone!
Comments regarding selling security holders is standard boilerplate text.
As far as solid announcements forthcoming I would say they've already shown that licensing agreements with top fashion people/co's is their focus and I would expect that to continue. They said that Fall of 2012 is the target date on sales via QVC. And to be ready by that date the agreements need to be all lined up now. These agreements = royalties on sales. Nice $$
Other than this delay in trading the past month I'd say they've hit the ground running towards their goals rather well! ;)
...good luck guys!
Yeah $niper, it will be interesting to see how things end up here. Sure has been a long wait.
I wonder if the company will have some solid announcements ready to go public with once the shares are free to sell. With a current O/S of just 5 million plus shares, the stock price will be volatile to say the least, and with solid substantive good news, could see a nice run up. "The shares being offered hereby are being registered to permit public secondary trading, and the selling security holders may offer all or part of the shares for resale from time to time. However, the selling security holders are under no obligation to sell all or any portion of such shares nor are the selling security holders obligated to sell any shares immediately upon effectiveness of this prospectus."
Hey, nice to see you here :)
PRELIMINARY PROSPECTUS
Subject to completion, dated October 28, 2011
2,912,860 SHARES OF COMMON STOCK
XCEL BRANDS, INC.
http://ih.advfn.com/p.php?pid=nmona&article=49717023
Our common stock is quoted on the OTCQB under the symbol “NFBHD”. The last reportable trade of our common stock was $.01 per share on September 28, 2011 or $5.21 after giving effect to the 1 for 520.5479607 reverse stock split effective as of September 28, 2011. These prices will fluctuate based on the demand for our common stock.
Still here =) Looks like things are really shaping up.
ACTION APPROVED AMENDMENT AND RESTATEMENT OF OUR CERTIFICATE OF INCORPORATION
The effect of the Amendment and Restatement will be to amend our Certificate of Incorporation to (i) decrease the total number of authorized shares of capital stock which the Company shall have authority to issue from 210,000,000 shares, consisting of 200,000,000 shares of common stock and 10,000,000 shares of preferred stock, to 26,000,000 shares, consisting of 25,000,000 shares of common stock and 1,000,000 shares of preferred stock, (ii) include a non-exhaustive list of those powers, preferences, rights, qualifications, limitations and restrictions relating to any series of the Company’s preferred stock that the Board has authority to determine, (iii) specify that, unless required by law or determined to be advisable, stockholder votes need not be by written ballot, (iv) reserve the right of the Company to amend its capital stock or its Certificate of Incorporation, among other things, at any time in the manner now or hereafter prescribed by law, (v) revise the provisions relating to the indemnification of officers, directors, employees and agents of the Company and the limitations of personal liability for certain acts and (vi) classify the Company’s Board into three classes.
The decrease in the number of authorized shares of capital stock, common stock and preferred stock will decrease the Company’s annual franchise tax payable to the State of Delaware, the Company’s jurisdiction of incorporation. The Company believes that it will have sufficient authorized and unissued shares of capital stock, common stock and preferred stock to satisfy its existing and expected future obligations to issue stock.
The Company has no class of voting stock outstanding other than the Common Stock. There are currently 5,742,952 shares of Common Stock issued and outstanding, and each share of Common Stock is entitled to one vote. Accordingly, the votes or written consents of stockholders holding at least 2,871,477 shares of the issued and outstanding Common Stock are necessary to implement the Amendment and Restatement.
AS decreased to 26 million really narrows the availability of shares here.
Schwab is now also reflecting the reverse split.
We wait and see what comes next
My Ameritrade account finally reflects the results of the R/S and now shows 721 shares @ $3.60 mkt value. Trades cannot be made yet however, but maybe that will change tomorrow when the D comes off.
So tomorrow will be quite interesting and i really hope, that we'll soon start trading, again!
The "D" comes off tomorrow per the OTC daily list. Perhaps we''l see some interest and volume begin to stir.
XCel brands will be trading as NFBH again. I would not be surprised to see a symbol change at some point in the future.
a/s has been decreased to 26mm
filed on 10/27/11 PRE 14C A preliminary proxy statement containing all other information
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8205830
Five form 3's filed in the past week for NFBHD
http://www.otcbb.com/asp/Info_Center.asp
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I posted the link to this Licensing Agreement with Accessory Exchange at the same time I posted the Fisher Footwear deal but the link wouldn't open...now it does. We had 2 deals on the 17th.
=========================================
Xcel Brands, Inc. Announces Licensing Deal With Accessory Exchange
By: Xcel Brands via GlobeNewswire News Releases
Posted on October 17, 2011 at 15:57 PM EDT
NEW YORK, Oct. 17, 2011 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. has signed an exclusive licensing agreement with Accessory Exchange. This agreement will give Accessory Exchange the license to manufacture and distribute handbags and small leather goods for the Isaac Mizrahi and Isaac Mizrahi New York brands. The collection will debut at retail in Fall 2012 with prices ranging from $98 - $348.
Robert D'Loren, Chairman and Chief Executive Officer, Xcel Brands, Inc. said, "I am very excited to be in business with Accessory Exchange to launch our Fall 2012 accessories collection. This partnership will be fundamental in building the Isaac Mizrahi and Isaac Mizrahi New York brands."
Isaac Mizrahi, Creative Director, Xcel Brands, Inc. said, "Accessories dictate the look. Before a woman gets dressed she knows which accessories she's going to wear. We are so excited to be involved with Accessory Exchange."
Abe Dweck, President of Accessory Exchange said, "Isaac Mizrahi has been a leader in bringing fresh, creative products to the mass market. We are honored to be working together to continue bringing quality, fashion-forward accessories to our consumers."
Accessory Exchange is a leading full-service accessory design company specializing in high quality and fashion-forward handbags and small leather goods. Started in 1909, the company is now a leader in the handbag market, with six offices and facilities around the world. Accessory Exchange controls every phase of the business from design and production through inventory management and shipping. Newly acquired categories include leg wear, luggage, and accessories in both brands and private label. Current licenses include Cynthia Rowley, Deréon, K-Swiss, Olivia + Joy, U.S. Polo Assn., and XOXO.
Xcel Brands, Inc. engages in the acquisition, design, licensing, and marketing of consumer brands. Xcel's management team consists of executives with significant experience in creating and growing businesses in the branded consumer products industry and a proven track record for successfully completing multiple similar acquisitions. Xcel will seek to acquire brands that it can utilize in a multi-channel distribution strategy (bricks and mortar, internet retailers and interactive media) with a focus on identifying designers or celebrities with personalities that connect directly with consumers through social and other media.
Isaac Mizrahi has been a leader in the fashion industry for almost 30 years. Since his first collection in 1987, Mr. Mizrahi's designs have come to stand for timeless, cosmopolitan style. He has been awarded four CFDA awards, including a special award in 1996 for the groundbreaking documentary "Unzipped." In December 2009, Mr. Mizrahi launched his lifestyle collection, ISAACMIZRAHILIVE! on QVC. Under a design agreement with Liz Claiborne, Mr. Mizrahi also serves as the Creative Director of Liz Claiborne New York, a line sold exclusively on QVC. Previously, in 2003, Mr. Mizrahi pioneered the concept of high design for the mass retailer with a successful partnership with the Target Corporation. In addition, television audiences have come to value Isaac's media presence through his roles on "Project Runway All Stars" for Lifetime, "The Fashion Show" for Bravo and his own series for both Oxygen and the Style Network.
CONTACT: Erika Stair
PR Director
Xcel Brands, Inc.
347-727-2476
Erika@isaacmizrahiny.com
http://finance.bnet.com/bnet/news/read?GUID=19717946
Read more: http://markets.financialcontent.com/stocks/news/read/19717946/Xcel_Brands#ixzz1bqei7mFK
I would agree robalamo. D'Loren is driving this bus and he's managed companies with deals in the Billions before. I know that most here didn't have any plans of holding past the pop on the news of a RM and the way all went down that opportunity never presented itself.
Depending on how this comes out of the gate though it might not be the worst idea in the world to sell some and hold some. It appears that the real thrust on their QVC sales activity is geared for the fall of 2012. Considering some of the fashion world circles these guys hang with I don't think you're looking at just another stinkie pinkie here. This could very easily move to the Nasdaq to attract some money people...and at that point 460 shares will look very respectable.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67751138
Robert W. D’Loren is our Chairman of the Board and Chief Executive Officer. He served as Chairman and CEO of IPX Capital, LLC and related subsidiaries, a consumer products advisory firm from 2009 to 2011. Mr. D’Loren previously served as a Director and President and Chief Executive Officer of Nexcen Brands, Inc., a global brand acquisition and management company from June 2006 until August 2008. Prior to NexCen Brands, he served as President and Chief Executive Officer of UCC Capital Corporation (“UCC”) from 2004 to 2006. Prior to forming UCC, Mr. D’Loren served as President and Chief Operating Officer of CAK Universal Credit Corporation, an intellectual property finance company from 1998 to 2003. Mr. D’Loren’s career debt and equity investments in intellectual property centric and consumer branded products companies exceed $1.0 billion. From 1985 to 1997, Mr. D’Loren served as President and Chief Executive Officer of the D’Loren Organization, an investment and restructuring firm responsible for aggregate transactions in excess of $2 billion. Prior to that, Mr. D’Loren served as an asset manager for Fosterlane Management where he managed in excess of $1.0 billion in assets, and previously served as a manager with Deloitte. Mr. D’Loren is a Certified Public Accountant and holds a Master’s degree from Columbia University and a B.S. from New York University.
I hear you. You never know, something big could happen here. We'll see.
This could be bigger then any of us think.maybe they did'nt bend us over,we need some input from someone who fully understands this business.Hanging in with my 460 shares.If you say it fast it almost sounds like a lot. LOL
we will just have to wait and see....
Xcel Brands, Inc. Announces Licensing Deal with Fisher Footwear
http://www.menafn.com/qn_news_story.asp?storyid=%7Bd834c92d-edec-4cf2-8cfb-9109f93412b8%7D
http://www.marketwatch.com/story/xcel-brands-inc-announces-licensing-deal-with-accessory-exchange-2011-10-17
Exciting stuff here guys ...we just need the trading to begin!
Hard to say why without any news from the company.
A) I'm a little nervous about there being only one Market Maker (Nite). My L2 still shows Nite but we can't say for sure they're still in this.
B) It could also be the SEC or FINRA isn't happy about something or... someone involved.
C) It could be a financial reporting snag.
D) Negiations weren't as "final" as they thought.
E) All of the above. (or a combination of a, b, c or d).
???
When will we see some trading action here? Why does it take so long?
It's just wait and see for us...that's it
Wonder if this week trading starts again?
According to IR, their initial target price is/was a minimum of $5.00 per share. If they could achieve and maintain a price like that, and then build upon it, things would look better for pre R/S shareholders. The only way they can achieve and maintain those kind of prices is to have a fantastic business plan and product, along with limiting dilution. On the pinks however, hoping for a company to limit dilution usually ends up as a pipe dream for shareholders. We'll see how things unfold here. The IR department (Seth Burroughs) seems like a straight shooter to me, and is very accessible. He was right on the Ameritrade problem for me, and actually returns calls quickly if you leave a message or question on his voicemail.
I understand slaz. I think you know my opinions aren't meant to discourage. I hope I'm wayyy off on this and it busts out over $10...I really do.
I wanted to get in this last spring myself but felt the pps was too high considering what the investors paid...so I sat this dance out.
If it doesn't do as well out of the gate as we hope then maybe averaging down is the thing to do. I do feel they have a great business model. QVC is growing..people are shopping more on-line and on TV than ever before. It's a hugely growing business even in a tough economy. In time this could be a solid winner..especially if it goes over $5 and attracts an entirely differenty crowd of investors and or moves to the Nasdaq.
Maybe we open at 20-30USD...you never know!!!
Looks like I need $19.25 to break even, sure hope this thing goes crazy.
I'm just looking to salvage something here now. To actually break even would require $12 a share. "That dog don't hunt", as Herman Cain once said.
I may call him on Monday...I'm on the West coast..too late now.
I hate to tie up the guys time since I'm not a shareholder (yet) but I am curious about the opening. It's just real hard to say what it will actually be. It's real possible it's in the $2 - $4-range. I know you guys don't want to see that and I totally understand. The spread between what the 4 investors have in this (which set the value by virute of 63% of the O/S prior to R/S) and other minority retail shareholders is quite wide...and my fear is the opening could be much closer to their investment price. If it is then that could potentially give some a chance to average down significantly. Just a thought.
And if it opens beyond everyone's hopes and dreams then none of this matter and we celebrate! I really am hoping for the best for you guys. I've watched this with you and know how important the next few days or weeks will be.
Have a good w/e everyone!
Seth Bouroughs called me again and let me know that the company attorney has contacted both FINRA and their Transfer Agent regarding the delay in post R/S shares being reflected in my Ameritrade account. He said that they were missing one document and that was causing the delay. He assured me that they will correct the problem and apologized for any trading problems the paperwork delay has caused. I received my Ameritrade account statement for September today and it notes the 520/1 R/S, but doesn't yet reflect that in my shares. Hopefully the problem will be resolved quickly.
He also said he will be happy to answer any questions regarding the company. The number he left was:
Seth Bouroughs - 347-727-2483
.
I gave the board his phone number. I had a couple of conversations with him but do not want to misquote him on this board by mistake, so it is best to make the minimal effort it takes to call and ask him whatever questions you have.
So why did the company decide to do a 520/1 R/S and what PPS are they looking for? When will it start trading, again?
Peeps here should give him a call. He is very personable and will explain why the company decided on a 520/1 R/S and what share price they are looking for and why.
Seth Burroughs
EVP Business Development & Treasury
Xcel Brands, Inc.
(646) 330-5851
IR@XcelBrands.com
http://www.otcbb.com/asp/dividend.asp?sym_id=nfbh
.
For starters it's good to see that XCel's IR person (Seth) follows through. Good to hear!
And it's good to see your getting the right people talking. It's possible NFBHD hasn't resumed trading because they haven't sorted out shareholder share adjustment wrinkles like yours post split.
Seth Burroughs called me back today and gave me the transfer agent information and phone number to have Ameritrade call them. Ameritrade says it is a paperwork problem between the DTC and the Transfer Agent (Securities Transfer Corporation). Ameritrade is aware of the problem, and is monitoring the situation. In other words, it will be resolved when its resolved. No time frames. I called Seth back and told him what Ameritrade told me. He said he would speak to the Transfer Agent and see what he can find out.
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