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Thanks, still looks like a lot of shares out there. I will stay on the sidelines for now....
DOES ANYONE KNOW THE CURRENT total of A shares (and value) and B shares? Thanks
Isn't it strange that the release is being made at this time? Next stop .0003.................
I love the way you put it, I don't think anyone can argue with your observations.
Where did you find this? Anyway, it clearly indicates a serious situation. It's a mess.
If it were only 21 m shares, that would be fine, but look whats coming down the pipe. It looks like it wants to trade lower and that would mean even more conversion dilution.
Hey we are in this together. No offence taken and same here none meant. This is a very unfortunate set of circumstances, we have a sound company and a poor share structure.
I just really feel this situation could have been avoided. Hindsight I know is 20/20, however you must admit there is the strong potential of PPS significantly tanking here.
How polite, forgive me, I just don't care for the actions of the management. Perhaps you have something objective you wish to share?
I see that the outstanding has doubled, er perhaps that might be bad and we are finding this out on the eve of the pref conversion. Do you have an objective observation about that or should we just see what happens: )
With the greatest respect, the newly revealed facts speak for themselves. If anyone is offended by my last or in fact any of my posts, then they must be one of those it is aimed at. As I stated in my last post "IF" they did release 11 million shares "Knowing" that it would keep the PPS down, it would be grounds for a legal proceeding. "IF" it were proven it was for there gain.
These guys have to be responsible for there actions, that isn't personal, it's business!
I guess we now know what these tossers have been up to. It is inexcusable behavior, totally underhand and clearly a scam on the common shareholders. If it comes to pass that the dishonest bastards purposefully dumped stock into the market to lower the common price to gain more market share in the preffered, that would be grounds for a lawsuit.
These vermin need to be helled accountable for there actions. They are disgusting filth in my opinion. No better than Bernie F@#king Maddof!
Just watch this sucker tank!!!!
Thats all she wrote! Long live Kenneth R. Allen Edwin G.Gibson Jr.Stephen C. Ivy & John E. Prouty. They should be proud to have become members of the F@#K the investors club.
It is quite funny, they tried to reduce the outstanding shares and instead reduced the investors.
I said it before and I will say it again.....Tossers!
One thing for sure, when the dilution comes, it will precede yet another reverse split. That will be before any up-listing. Then the stock will be a buy. It is dead until then. This little sucker rally is baseless and with no volume.
If you are in the class A conversion, you want the common as low as possible. However the majority of investors are not, and they want to see a higher PPS, so there is less dilution.
Although it is extremely unlikely, if someone were to squeeze the PPS up, it could impact the conversion a great deal. With only 16 million class A shares at a dollar each, it would take a big move to impact them, but stranger things have been known.
However, I suspect that the current buying is a headfake and next week this baby will plummet to .000?
Can anyone see what the current float is, has it increased? It would be interesting to see who the significant ownership is of both the common and pref.
I just don't get why it won't go down. Who wants a stock that is diluting next week? There is no chance this has a rally now, everyone has bailed pretty much and there are no buyers.
If they issue a billion common shares, that will kill the current common stock price. At this point it is difficult to see how that will not happen.
Everything you said is right on, the problem is the share structure and the upcoming dilution. That's the rub here.
I was interested to find out opinions about the Class A shares. Did they R/S? If they did not, then there will be 16 million dollars converted into common, that will be a little more than a Billion shares, so the common will be killed. If they did split, X that by 500!!! then we get killed. ERRR I guess we are dead?
I had been optimistic that there was an honest bunch at the wheel, but Ken and his boys have done wrong by the investors. Tossers.
So, are we going to walk the dog down today or dump it quickly? I see the offer dropping, just hit the bid, .003 makes no difference. nail the sucker and lets see just how many shares old Ken has to find, Billions! all worth nothing. This stock could end up with a float of a trillion!
That speaks volumes, they knew damn well they were going to dilute it again. What a tosser that guy is.
The authorized must be wrong, it had a 500 for 1 split, that must apply to the aut too right? it must be closer to 24 mil..
How many authorized are there?
I think big apple is not the problem, this is the management ensuring the shares tank. They will convert there class A and clean up. Ken is the winner, we lost out big time, it's a simple scam. I just hope there is a lawyer out there ready to hold them to task.
VFINF is sitting on this puppy! The conversion is based on the 10 days closing BID prior to Mar 15th, so watch how low the closing bid is today, it will make you laugh.
The management will end up with a bigger majority stake and the common will be pretty much eliminated. Nice going.........I am glad I flattened my trade and only have the house money on the line, this was a scam.
That was negative for the government! This could be for the common! Anyway, it ain't over yet. The $12 dollars will have run out by now, lets see if they need more beer money or they can stand to see this sucker have a run.
I would like to make enough to pay some OBAMA tax!, whats that, on people that make over $250k! Of course I am joking.....
Forget Big Apple, this is just a wanker at a trading desk.
No it was a bored market maker. What a tosser..........It is like one sharing someone, really lame.
Still needs to break out. If it does not then we will be right back to .01 bid v/s .02 offer in no time...........
If it were someone getting out, like one of us, they would lift to get the higher price. So it is clear someone wants it here, of course this is just my opinion..........
My guess is it is all the same order flow, IE it is not getting past .02, no matter who is on the offer. I could be wrong, but I think it is happening to keep it pegged.
Why is there always someone sitting at .02 offer?
Well it would seem we have some stability right now in the stock price. It remains to be seend how the conversion goes. There are still some things that can change the outcome in a positive way for both com and pref shareholders. It will be interesting to see how this shakes out.
I don't think there are many shareholders making money from this stock though.
Just remember, they can read these message boards too........VFINF is trading an order flow, I doubt very much even if he knew the price were going down he would short a stock at such a low price. If he got short squeezed, it would be horrendous for him, way too much risk.
Fact is, for every seller, there is a buyer, so someone wants this stock. However, the whiplash we could see in the price has not begun yet. Let’s face it the indications are for extreme dilution, which would clearly be very bearish for the stock, so why hasn't it tanked? Because there are buyers who predict a different outcome…………
Looking at the mix of sizes of trades I would guess it is mainly one investor selling through VFINF, the little trades are more than likely people like us, the common, who are facing the possibility of total wipeout.
If the insiders are going to loose the value of there common only to be replaced by converted preferred, they could also dump all there present common shares, knowing they will be replaced in a few weeks.
If this is true, it will all come out eventually and be indicative of the managements desire to keep the stock price low. That might be a little naughty, so let’s see how it shakes out.
I still believe there is a solution, however since all these posts are read by them, the MM's and us, I will keep my thoughts to myself on the solution. There is still a way...........
Expect a down day today, VFINF back with his .02 low offer. Lets see if he has much to sell. I hope he does.
I am ready for whatever comes next. I suspect we go up.
VFINF is always a seller, he has some kind of negative order flow. I still think it goes up, He lifted and it went up, it is down on very little volume, so we are in good shape.
Still very quiet on our board! We just need a little more volume and we will be rolling. I have a feeling something is about to break..................
I am not sure you are getting my point, I think they are not going to wipe out the shareholders. That is why I am long the common and have accumulated down here.
I think this one goes well for the stockholders.
Great action today, Seems like we have some buyers. Good volume and an up day!
NITE is on the bid for Ameritrade, he got hit and did not drop. I would like to see if anyone takes out VFINF on the offer at .035. If he lifts, I think we might have a good day here. Lets see what he has to sell. I suspect not very much.
We might have a lunch time wiggle, but once we hit the afternoon session, we will soon know whats going on today. I do like the volume, lets see a bit of follow through.
The bid looks weak, which is a good sign.