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Never mind.
Anyone know what's going on now? No quotes or price?
Tuesday, but who's counting.
Does anyone know who takes over the management and decision making once this comes out of bankruptcy?
OBI
Your May 12 chart update mentions a future wave up to the $10.00 to $16.00 range. Are you modifying this projection or are you saying getting past $5.00 and being over-bought and over value would be a temporary situation?
Any thoughts on what this means?
Q1 will not be out until May 15th.
Curt999,
I'm not happy about the situation either, but just to correct, the company did file the required 8K. So I'm not sure why people keep saying there was no public disclosure?
Well as I said, I was giving him the benefit of the doubt. Try to do that with everyone.
Nice try though.
Per 2/14/11 S-1
Summary of the Shares offered by the Selling Security Holder
Common stock offered by Selling Security Holder 651,717,795 shares of common stock.
Common stock outstanding before the offering 2,207,872,679 as of February 7, 2011
Common stock outstanding after the offering 2,859,590,474 shares.
OBI
If the full $10 million equity line was exercised, there would have been substantially more shares issued. The company had the option to exercise as much or as little as they chose. Only 2 million plus has been exercised according to public record.
So what's your point? The company exercised it's option to sell 600 million plus shares to Southridge. Southridge is an underwriter meaning they are then going to sell the shares. Therefore those shares went into the float.
It was just 800,000,000? Now all of a sudden it's almost 1 billion? Starting to wonder about your motives MM. Been trying to give you the benefit of the doubt.
We knew Southridge purchased well over 600,000,000, and those were for resale, so no big surprise here.
Congrats by the way!
I think he meant "come aboard"
If I remember correctly, it was a formula based on the low price so many days before ASFX exercised its option for Southridge to purchase. So assuming they bought the 600+ million shares, they would have paid approx. .0038/sh.
No problem.
That's what I am saying.
ty,
Someone may be loading up. However, I think we will be at these price levels for some time, unless the company begins to show profits. If you recall, Southridge, as the underwriter, was to purchase over 600 million shares at roughly .0038. As the underwriter, they will be trying to sell those shares at a premium. That is why I think we are stuck at these levels as it will take some time for them to sell all of those shares. In addition, under the equity funding agreement, the company could require Southridge to purchase substantially more shares if needed. On the plus side, Southridge will make every effort to keep the price above what they paid. We need positive news to show up in first and second quarter Q's.
He said he bought 1 million shares. Over 5 million shares were traded today. What am I missing? Somebody had to buy those shares.
10K filing is not due until March 31st.
Really?
Guess we'll know shortly if any retailers have dropped them. With only a week of delay in getting out the newly packaged product, I don't expect we'll see many if any retailers discontinuing the product. Time will tell.
Since you and your buddy Christy claim there have been nominal sales, not sure damages would be that much. Also, Technimed would have to prove that if not for Kids Med, people would have purchased their thermometer instead, pretty difficult to do. Also, the high end estimate of the recall cost was $130,000. Technimed claimed it shouldn't cost more than $10,000. As I have stated before, the truth is somewhere in the middle. So to state that the funds raised from Southridge, in excess of $2,000,000 will somehow be consumed by this recall and repack is patently absurd. (Just to add some clarity)
Exactly what has ASFX done for Technimed? The suit was over misleading packaging and advertising. The company is recalling however many units are still in the hands of vendors. Packaging has been changed to comply with the court's decision. The company is differentiating it's product further, again in accordance with the court's decision. Not sure what else Technimed can complain about, although they probably have not yet given up. Why don't you tell us what there is to still be concerned about.
Sorry Mint, the 2010 and 2011 YTD sales will not determine its future. Sales going forward will determine the company's future. Also, they have or will shortly be receiving a cash infusion from the sale of stock to Southridge, so not sure why they would be "running on fumes" at this point.
See it now. Didn't come up the first time for some reason.
tb,
Where do you see it?
Well I would agree with that, but creditors may not be so accomodating, especially since I'm sure they know that this cash is going to be there.
Ultimately, the sale price will depend on how well the company uses the monies from Southridge. They should be both lowering debt that had high interest rates and investing in increasing sales.
OBI,
The market will determine the bottom, but as I said before, Southridge is the underwriter. In order for them to make money, they need to sell at a higher price than what they have paid. the higher they can sell it for, the better for them. They would not have made this agreement unless they were very sure they could sell this stock at a profit. I would like to think we are at the bottom. Time will tell.
I believe it was approx. .0038.
Common sense would dictate that Southridge is going to try to sell shares at a profit since they are underwriting the sale of these shares. If they are put shares at approx. $.0038, why would they sell for less?
glty OBI. I'm holding what I have.
OBI,
It comes down to what you believe. Either you believe someone is buying shares or you believe "facilitators" are trading shares back and forth. You either believe the company has viable products that are now selling or you don't. You either believe the company will continue to lose money, which combined with the new shares authorized, will be dilutive or you believe that the cash that the company gets for these shares will be put to good use to increase the value of the company. You are not going to change the minds of certain people on this board.
Maybe. Hopefully people read and understand the agreement.
That's right ty. Theoretically the company is worth approx. $10,000,000 based on roughly 2 billion shs outstanding multipied by the current price. The addition of the $10,000,000 in capital theoretically increases the company value to $20,000,000 with not much decrease in the per share value (8% discount on shs purchased). Dilution is increasing shares without increasing value. If the company continues to lose money, we will have dilution. However, I don't see where Southridge would put themselves in a position to be requred to buy $10,000,000 of stock in this company unless they are fairly confident that profits will be generated. If that does occur, dilution may be avoided and we could in fact see increasing share value.