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Kitty
You never responded publicly to Ben's earlier question and I'm curious about your thoughts now.
TIA
"Kitty -- do you have a theory about what the news might be? Also, given that you are now buying at these levels, what is your estimation of a, say, six month optomistic scenario for the Co?"
It's a mystery Oniro.
You'd think the PIPE's would just dump here no?
Cargo Hauler -
I don't know exactly do you? Just pointing out that the dilution of shares could end up being a several millions less than the Sept 30 filing.
Another press release could also drive the share price back over .01 in the next few days and bring with it increased volume. Details of the stimulus package may also be a boost for SOLM in the eyes of potential investors. I am still holding.
Fivestar - Lighten up. Volume has been low the past two days. Aren't moderators supposed to be a bit more dispassionate?
Here's a look at shares traded higher than .0075 on high volume.
The week of October 13 `~8M shares traded .007 to .019.
The week of October 20 ~21M shares traded .007 to .02.
The week of January 26 ~27M shares traded .008 to .023.
The week of February 2 ~46M shares traded .008 to .015.
Total shares during high volume weeks = 102M
Debt reduction $132,000 instead of $75,000
Even better. How many millions were sold much higher? 50M converted at an average of .015 = 100M converted at an average of .0075. So that's 50M shares of dilution salvaged by my calculations.
Cargo hauler - It says "Based on the September 30, 2008 market price of the Company’s common stock shares". The stock price was .01. SOLM still has 200M shares available for redemption.
Good news could still allow for the redemption of all debt by the 24th if the price were to rise between now and then. Also some of the conversion has taken place at prices higher than .01 since SOLM has moved a few times over .01 on heavy volume.
It does make the litigation much more important than I first thought.
I'm waiting to see if the stimulus bill passes, what effect it will have on SOLM's trading. Volume is fairly light considering the number of shares traded in the past few days. jmo and GL to all.
Yes fivestar - I have no idea about the legal ramifications of the RS other than if a settlement were to happen, the name change wouldn't create any issues for the court documents. Without a settlement it would seem to be a complication? We need some legal minded folks to give us their opinion.
The reverse could also be beneficial though the authorized shares remaining at 500M seems out of line.
Thanks fivestar. Again it's after the vote on the RS. SOLM is making this a difficult decision for shareholders imo.
Knighthawk - I agree with you about the authorized share numbers. The timing of this RS is troublesome unless SOLM gives us some very positive contract news over the next few weeks. A reverse split from .03 (9M marketcap) would get SOLM to a respectable $3.00.
Name change seems frivolous to me given the litigation. Technipower does better reflect on Solomon's business. That is main advantage I see if there's a settlement offer in the works.
Fivestar - When do you expect the year end report? I saw last year they didn't report until April which seemed very late.
Also this reverse split vote is even more complicated due to the litigation. March 11th conference and response from Toyota due by March 31st. In between those two dates we have a potential reverse split.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34688691
Yes I think so. The stimulus bill has been modified to provide buying incentives for both the housing and auto markets. SOLM should benefit from increasing strength in the auto sector imo.
The "clean" energy part of that sector should benefit as well from the stimulus package. SOLM's recent patent for retrofitting older vehicles certainly is significant. I've already posted about the diesel school buses and I think SOLM will have a strong role in this market. It would contribute significant future revenues.
Interest in SOLM will pick up again once the stimulus bill is passed imo.
Thank you for the reply lazyeye.
I haven't bought any WFYW. Currently focusing on SOLM.
I'm not Fivestar or Ben but here's a very recent link to Toyota's hybrid sales.
Over 1M Prius models have sold and the Prius is 75% of Toyota's sales so I assume their total hybrid sales are running around 1.35M to date. I'll try to find the Lexus information tomorrow.
"Meanwhile, Toyota, an early leader in hybrid technology, unveiled a third-generation Prius for 2010 that will get up to 50 mpg. More than one million models of the Prius have been sold worldwide since the car's introduction in 1997."
"The Prius accounts for 75 percent of all Toyota hybrid sales. According to the Automotive News Data Center, it continues to lead the market with 241,405 cars out of a total 315,761 hybrid vehicles sold in 2008. The only company to increase its hybrid sales -- almost three fold -- in 2008 was General Motors, which sold 14,439 hybrids compared to 5,175 in the previous year."
http://www.marketwire.com/press-release/Copper-Development-Association-945545.html
Fivestar how many shares are left to convert now in your opinion? Volume has been in excess of 60M traded shares in the past 6 days. TIA.
I will do that. Thanks for the info.
Thanks Five! I hope our taxpayer money goes to solving some of our problems for a change. The government has the means to provide some responsible stimulus to the private and public sectors. SOLM can play a significant role.
UPS can retrofit many of the newer trucks in their fleet instead of buying all new vehicles.
http://www.theautochannel.com/news/2008/05/14/086893.html
Good things should come to SOLM soon. We just need to wait for news.
FedEx has another alternative now to catch up without replacing its entire fleet. And government incentives could offset the costs to retrofit many vehicles by a large margin over the next year or two.
http://www.fastcompany.com/magazine/129/green-business-truck-stop.html
390,000 diesel school buses on the road in the US. Much less expensive to retrofit with cleaner fuel efficient engines than to replace them.
http://www.msnbc.msn.com/id/18495146/
Nice to see they have a manufacturer already in production too.
http://www.solomontechnologies.com/he_buses.htm
Solomon should aggressively go after this retrofit market. Potential should be enormous for school buses and industries like UPS and FedEx. I know Eaton makes the hybrid powertrains for FedEx trucks and cost savings results for these vehicles have been excellent. Combine this with tax incentives and SOLM could get a nice piece of the pie.
http://www.arb.ca.gov/msprog/aqip/meetings/irs_hybrid_list.pdf
SOLM will have many more buyers wanting a position than sellers looking to take insignificant profits. The overall picture is too compelling after this unexpected news. Just my opinion.
Kitty - I still have several orders in at lower levels just in case. If you're right then I'll happily take the fills. If not, then what I hold will still make me very happy.
I hope you don't view my post as an attack too. You seem just a bit defensive.
Ben - I put in an order early yesterday morning for more shares at .0079. My order filled less than a minute before the close if that's useful information for the board
Thanks for the welcome to the board.
A friend suggested I look into this stock and take a small position. I noticed it was mentioned in a recent article about CES. With several competitive technologies, does anyone here have a good feel for Wherify's chances of being a significant player? Here's a link to the article:
http://lbs.gpsworld.com/gpslbs/LBS+Insider:+Editor's+Column/Perspectives-on-LBS-mdash-Early-January-2009/ArticleStandard/Article/detail/575689?contextCategoryId=34248
Any background information is appreciated.
Newbie SOLM holder and IHub poster. I like the information shared here. Tough market tough times. Six months from now perhaps SOLM makes us longs smile.