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Which is why ,We as common shareholders should NOT hold any ill will for recent performance of our NEW management , (because they were not us),but if this price is not reached very soon,it shows a complete lack of intelligence and /or integrity on the old management.
.Anybody connected to the Deal to merge with RX or the NO Deal with HL ,from the US Silver side is on trial,imo. 4 from the USA old management and directors will still inhabit space on the new board .If their previous resolve is proven to be BAD,then they should resign or be voted out at the next available time,to shareholders.
This will send a strong message ,imo.
We the common shareholders want management and directors that will work in our best interests,which if fairly compensated ,should be their own. Risk Management failures,(like not excepting the HL offer) should not be rewarded ,if the share price does not reach their implied beginning.
That does not mean ,I'm saying that turning down HL was incorrect,I'm saying the Risk of saying a deal with RX was better,might prove to be wrong.
Risk Management of the Corporate direction is an important part of being a director.
Was it good Risk Management to hedge 20% of our silver production previously ? I think it was ,even though it turned out badly ,but it was a move by Corporate that hurt everybody ,including them.It had a high level of protection for the Corporation.,which is different from a high level of risk to the shareholders .,imo
So ,according to that criteria, Hecla's offer was 31 cents ,off the mark. 45% premium of 1.46 = 2.11 - 1.80 =.31
Your 3rd point ," Is the value real" ? We agree, that the Galena complex has real value ,we also agree that the value to the Drumlummon mine and associated claims has value that is questionable,hence my discontent with the DEAL.
My point to all this , is that the newco , is of similar share structure and we have added a questionable asset, with a management that is already proven to be superior to the previous ,with the "DEAL", as it's first accomplishment,means the newco is more valuable, than USA alone.
The US Silver shareholders (like me ) have taken a hit.The newco is grossly undervalued to somebody who is just beginning an investment,imo
What kind of investment society do we have that rewards short term prowess over long term diligence ?
Reckless allowances for Insiders will bring about a depression in this country ,possibly the World ,just as it did between 1929 and 1932.
I really don't know what is a safe investment anymore because a great deal of money is present to protect insiders ,whether they are from Private Corporations ( which feed off of the common investor ) or Government Corporations ,(which feed off the their Private counterpart)
US Silver is part of an industry ,that is likely,slowly ,selling out to major corporations banner of "freedom in the markets" ,which is more appropriately "freedom to make profits without a level playing field "
Reminds me of the BLACK HAND, feeding off it's own .
That's a good point. I discounted the possibility because of the fact that MSHA closed the Lucky Friday,for being sub standard and shortly after Galena was checked for the exact same safety criteria and passed with excellent grades. (the shaft was the main issue,and a very expensive one at that)
Why would miners be against continuing with a "safer" employer ? ,would be my question. With that said,I think your brief remark carries some weight. Maybe,for reasons that are not obvious to investors,working for Hecla is better than working for USA. We will have a better understanding of this issue ,down the line.
great pictures bob ,thanks
Today is a living example of the stupidity of the retail base. This is why this company has floundered for so long.Too much retail ! I've said ,so many times how inconsequential Woodrush is, to the overall value. The only way to make big bucs at Woodrush is too go after the Deep oil, with a 10 million dollar price tag for two horizontal wells. The price gets smashed because the large retail base misunderstands the differences in book value and intrinsic value on non dividend paying stocks. (SPEC)
The American properties (because they are PUD Reserves), can only be assigned the book value of the land. No intrinsic value to the eventuality of the reserves ,Nothing. The Canadian property is being treated like what it is ; A producer that just lost money.It's intrinsic value just got a kick in the head.
.Incredible.The company is selling close to book value today ,because Woodrush lost money,Big surprise. I was hoping to break even.
As far as your asking about South Rangely,very good point ,it's right there on page 1 Q2 highlights #4
Focus on OIL commercialization opportunities at the company's North and South Rangely leaseholds.
The company must drill a well at KOKOPELLI to satisfy the lease agreement. Rangely's ,though possibly the biggest bang for the buc are also not hindered by critical timing of the leases.DEJ will be drilling at Rangely properties this fall.They just need to determine at what risk. They hold the majority 56% interest,but can and likely will pay a lot less and take just 30%,thus saving cash.This is a well by well agreement. At anytime they can stay 56% or majority control on any well they choose, over both properties.A very opportunistic place to be for a small company.
I agree this is aggravating ,but so predictable.I did mention the likelihood of drilling just 1or 2 wells at kokopelli.The NGL prices speak volumes.
thanks Bob, I see and understand the potential to rehab the mill,but a cross section of the 14,000 acres could give us a better idea whether it's claims could be accessed via Caladay . Rehab Caladay shaft and use the rehabbed Dayrock mill scenario.We don't know how many tons that mill could process ,when it was operational.A lot of good possibilities and hopefully we have the team that will prioritize exploration and development,with the eventuality of silver rising over 50/oz.
Bob,the Dayrock was not mentioned at the conference. What do you know about it? A mill ? Can underground be accessed by the Caladay workings ?
Luckily ,I'm not interested in selling. I have 2 accounts at Scotttrade.Wanted to switch over to TD but just never got to it.
I'm not going to debate the success or failures of this company,because the company is new.We have to look for the signals that I already outlined.I have been very vocal about why Parker was so important and how things have steadily gone down since talk about 9 months ago surfaced about him leaving.(pushed out is more likely,imo) I have lost 30% of my holdings to what looks like a transfer of ownership from commoners to insiders. I'm not going to defend these guys ,but I will allow them a chance to prove my concerns invalid.
1. Can you trust management ? We don't know yet. (as I've said ,wait for the options ,my 1st concern)
2.Is the value solidly attached to a share? I don't know that it is ,or is not, but I can agree that it is less attached than it was, when I bought in here,no doubt
3.Is the value real,and realizable for shareholders?
It's really the same question (back to options).This will determine whether or not they (management) are working in our best interests or their own. My 2nd concern was insider selling on run ups or after good news .That ,coupled with how they hand out options is really going to determine IF there is value to be realized by the COMMON shareholders,imo
IF Blasutti and his people do what they say is possible,IF they don't show the same kind of irresponsible behavior that' been evident in the last 6 months ,then things could get a lot better around here and they do seem determined. If things get better ,I will be happy to vote out anybody connected with the old management or Directors.If things get better ,it will be obvious it is the new management that is responsible ,therefore why keep people around that made such a bad deal, for us .You can't fault Blasutti for making a good deal for HIS people.If I could vote the old Directors and Management completely out tomorrow ,I would .(with the exception of Steve Long),because they have proven not to act in my best interests,already. 4 of them on the BOD is 4 too many ,imo You cannot say the same thing about Blasutti and his boys,Can you?
No ,He sounded like a gruff kind of reporter. ( if you find the article ,please post it)Maybe the miners have been buying shares .I'd be pissed off too,oh wait a minute ,I am.
The upside is ,I do believe for new investors ,this is an opportunity.Like I said,to DSU ,the companies structure is as it was.the old shareholders took the hit.The new people got a deal ,in my view.I think it will take some time to win the retail.
It wasn't Pridham that answered ,it was Hopkins and I'm kinda at a loss to why the miners would be bothered .Sure ,if they're shareholders,(no different from me ),but essentially, Are you suggesting that they believe they are better off with the old management than the new? It's not like the new guys plan to downsize . Steve Long is in charge of them now and will continue in that regard.
They are probably unhappy about losing their 1/3rd,so what's new ?
The deal was bad .RX assets, likely will not grow to 30% of the value of the newco,imo. It might turn out in years to come,if managed well, to be a good asset,especially if (as they hinted ),it could produce about 30,000 oz's a year of gold ,with the Belmont inclusion.
The company share structure (providing it is not assaulted with options) is the same as we had before.The only loser is the US Silver shareholder by 1/3rd.
Are the company's total assets more valuable now ? I believe so,(even with newly acquired expenses) ,but truly the best asset, was in the end ,the RX management.
They paint a proactive message of exploration and development diligence ,to newly named Galena complex. It is clear, by HL Chief Bakers remarks, that the Galena surrounding claims were extremely undervalued and have huge upside.Blasutti intends to go after that value. I 'm impressed with the new managements optimistic approach,which considering the new COO 's background ,seems promising.
I'm willing to give this a chance .My concerns are
1. Options 2. Old management (Hopkins) possibly selling into run ups,thus ending share appreciation at every bit of good news. 3. the possibilities of higher than planned expense's at the Montana mines 4. acquisitions ,which are planned prior to 2014.
All these concerns can be remedied if we actually have bought ourselves a talented ,pro active ,shareholder friendly , Management TEAM
The old adage that Management is #1 ,is not something I have ever believed (I've always thought it was second to the property)but in this case ,I'm hoping that's the truth.
Gordon Pridham suggested a 3 dollar share price after the merger.That means with our loss of 1/3rd of our shares ,US Silver share price today should be around 2 dollars.This would give the 45% increase in value which he said would exist post merger.Otherwise ,if he did not believe we would be worth 3/share post and 2/share Pre,then why turn down 1.80 cents?
The Management has to answer these questions but I'm sure they won't today. they can still say ,"Just wait and see" until the next conference .
I'm interested in their valuation of RX Gold and I'm sure they will not be receptive to it,other than telling all the rhetoric I've already heard.We have to give them time to prove their analysis was correct .I know that and they know that.
I expect DEJ to mobilize drill rigs to South Rangely and Kokopelli before September.I believe they will only drill 1 well at Kokopelli (which they must to satisfy the Lease)The big job is to have small starts on their PD RESERVES to greatly enhance the value of the properties.(without using the loan money),until NGL and dry gas becomes more economical
They will take a minority interest in the exploration well at South Rangely and probably participate in turning it into a horizontal well,thus bringing in production.
Those two wells are the most important things to accomplish.I thought that if dry gas goes to where there is profit,then the NGL's could actually be stored until a better price comes.
I'd like to ask a particular question later today at the conference but I don't think it will be excepted.
I want to ask them to review the "Valuation" on the deal. Did they use a valuation model that a bank would? A= IMPOSSIBLE
Blasutti did say they reached a valuation using a few different things including quote ,NAV. A= How is that possible?
I think they will not hear my questions so I'll write them to the company directly.
It seems like our Management has succeeded ,again ,in destroying shareholder value,while endeavoring to create it.
Losing money in a quarter ,while administration costs (probably due to this latest deal) have skyrocketed.
I guess there is good reason to embrace a new Management ,but I suggested a few weeks ago,We shouldn't of had to pay for them with our shares.
Production at Woodrush is always helpful to the share price and does add some extra value, but has little to do with the big deals that will likely come in the next few months.,imo.
The Rangely properties exploration are of great interest to companies like Bill Barrett while development of Kokopelli and Roan Creek are followed by Williams and Encana.
I'm hoping to see the assets JV or sold off separately ,in order to maximize our investment.Woodrush is a good asset but not the big value at DEJ,unless we gamble on the deep oil potential ,with a 10 million dollar investment attached.
This sets the new management up very well .The worst quarter in many, is shown on the books."note that cash costs are down" How much cash has been lost on poor use of time? If New US Silver&Gold Management issues any options , anywhere near the price of the company,the day the company begins,then shareholders are going to run from this stock and the company will flounder for months,in many's opinion most assuredly ,mine
This first few months , in their care, is critical to show shareholders they are here to do business on our behalf ,not just their own.Transparency ,coupled with fairness and diligence ,is one of the simplest forms of rallying the share base.
This company has to be recognized by the industry as being "AT A LOW" . I expect this all-star management to improve value greatly ,regardless of a diminished sector,otherwise it was all for nothing.
Lets see some real long term value created,in the near term.
If HL had of offered a 1 for 2 deal,we would be Hecla.
Baker now saying that Galena isn't a good project. He claims it's the exploration potential on all the claims that they wanted.
Just another industry pro, confirming the potential of the undeveloped US Silver package.
RVM ,confirms that to them ,Galena IS a good project,but they say ,if it only had more exploration potential.
If these companies really want to be convincing they ought to check each others notes.
Suffice to say; US Silver is a valuable package and the undetermined value at RX really doesn't change anything for M&A potential concerning US Silver from an outside source.The company will basically have the same share structure and a bit more assets. The only ones losing value are the longer term US silver shareholders .I would know.
Concerning the RX vote; I was 100% sure it was a big rouse ,these guys on different boards not wanting to have their precious RX go to USSIF.
ALL BS. They must have had a party yesterday.
Your right eik .We really did ALMOST do it.,and we can be a voice of reason in our future here.When is the next vote for Management and Directors ?
Saying you have too many shares outstanding does not approach the value end of the argument.It's just a defensive remark from management to make shareholders believe they're tightening the belts.
If a company uses shares to increase the value of the company exponentially ,the ratio at which was decided that "you have too many shares" ,disappears.
like I stated,If you read my post it says for Hecla shareholders ,that believe silver has a basis for becoming more of a monetary metal. in other words
Spend your cash wisely on something that will hold value ,more than the cash itself.
I heard all the rhetoric from HL and I don't believe them.I believe they were trying to pick us up cheap because (with such a bad deal on the table) they saw an opportunity.I can't fault them for that .They should have been wiser and handled it better and it will show in the coming months in their share price ,imo.
I argued continuously against the poorly timed Reverse Split and the mania mentality of becoming an AMEX listed stock . I stressed , that undervalued AMEX stocks to merge with, were all over the place,when we were on a high and they were not.I talked 3 or 4 times about this issue with insiders at US Silver and was told , the suggestions would be brought to someone on the board .
They keep missing deals like this one and that credit line will begin to lower. I'm not saying HL couldn't raise the cash.Sure they could of ,but the arrogance ,the nonchalant way their people, (or representatives) handled inquiree's into the deal was bad ,imo.
They came across as, "We have tons of cash ,but that's all your worth to us."I'm now convinced that was all a rouse.I think their upper management will be blamed for handling such an imperative asset ,like Galena,so badly.
I mentioned a share deal to them and they said, Why would they do that ,HL has a huge cash position.
Well,maybe a big cash position,but not so huge when you consider the 110 million more to go into Lucky Friday.
Galena and package could have been purchased for about the same as what they're spending on Lucky Friday ,all in, with 25 million in cash.Tell me, had this deal come about right when Lucky Friday was closed that HL wouldn't handled it differently.
They could have offered an all share deal costing them about 35 million shares tacked onto their present share structure. If they have ANY belief in USD losing value and PM's gaining value ,it would appear as a strong business move.
They would still have the 110 million more for Lucky Friday and another 123 million from their own treasury ,along with the 25 million from Us Silver's .
Any shareholder of Hecla that would consider that a bad deal has no faith in the power (down the road),of SILVER,increasingly used as a monetary metal and the USD ,subsequently continuing to slowly devalue.imo
Hecla was just trying an extreme low ball tactic.They played this buy out stupidly ,imo. They should have offered an all share deal.
I now have the figure of 233 million as of 06/2012 as their cash reserves. They have spent 90 million so far on rehab of Lucky Friday and have an estimated 110 million more to go.
They did not (to my shock ) have the cash for a reasonable offer for USSIF .This pompous attitude of being rich with cash and therefore a share deal was off the table was a screen for their real game plan.
Nice try Hecla. In the ensuing months their shareholders will see the folly in their decision to not acquire a fully operational Galena mine which ,with it's adjoining assets is more valuable than Lucky Friday pre rehab and is likely near it's value post rehab. I look for a change in head office over there unless silver spot price goes to the moon and all will be forgiven ,albeit temporarily.
I don't know the facts yet,but I think with all the other esoteric information about the D-mine ,it's possible.As far as having poor revenue's in the future ,MOST mines that do not have, at least probable reserves have those problems.It's hit or miss.Just because you know or have evidence that some good ore is there does not mean you have a qualified estimate as to the cost or the difficulty in the extraction. What other (possibly environmental), obstacles are there ?
I talked at length about this issue with Dr Bill. and Aurcana. Investors swarm to Aurcana ,where what I see is a very similar type of mine plan. Shafter is bigger and better than our D-mine but has NO reserves and down the line those revenues can drop significantly.Costs can increase significantly,beyond normal scenario's that cause cost overruns and lower production.
The real promise from the D-mine is this apparent 8ft vein of high grade ore .Revenue could sky rocket but we have no idea of the cost ,(what's involved in the extraction),so it's unknown. NO RESERVE .
All we can do as investors is rely on the people that run the company for their competence and their resolve. I'm willing to give it a chance.
I did everything I could to try an persuade USSIF shareholders to say NO to this but I lost....
I never devalued the D-mine,I simply could not assign it value for the merger,based on my understandings of valuation with non dividend paying stocks.The D-mine really has very little NAV,imo from the information I've been given.The intrinsic value could be there but should not have been such an important factor . Blasutti said they reached a Valuation of the NEWCO partially by NAV,which I find very odd. How?
Beyond all that ,the RX COO is very impressive and will live near both mines,not in Toronto.Blasutti,is impressive in his own right and does seem to have a plan so I'm hopeful,they can fix a lot of damage that has been done to USSIF shareholders ,not just by this valuation and merger but by past mistakes from our Management. There's a big job ahead. I'm willing to give it some decent time.
I guess it would be worth listening to again. The point is that the CEO of our company said it and based on his recommendation, along with the entire BOD and Advisers and Sprott,they came to the conclusion that before the merger we were valued at over 1.80 cents.
I don't agree that pumping a stock like this is necessary when pro's have staked their reputations on the value. The only way they can prove the D-mine is as valuable as it already HAS been pumped,is to bring in some returns that substantiate the value they claimed. I'm not going to knock US Silver property because it shouldn't be. Despite what HL might say ,if you look into it,you might agree that Galena and attached land package is worth more than Lucky Friday,before they spend whatever they spend 50-100 million.Even then ,what could we do with our claims with that kind of cash?
I could never find any significant value with the D-mine.Pumping it ,won't do any good. They have to restore the confidence of the shareholders and prove their council is honest by making the mine work well for us.If they don't ,their reputations are going to suffer.If it's a big lie,if the D- mine is nothing more than what I perceive now ,then their management will not last.They won't get a vote,if they don't produce big.That's from RX shareholders as well,in my opinion.
How do you come to 2.35 ?
He said it,in answer to a question from a reporter ,the very first conference (the one where we got to listen).
Pridham said after the consolidation of the shares and the NEWCO formed ,US SILVER & GOLD would be a 3 dollar stock. It's still pathetic ,but the point is, he turned down, and all the experts turned down 1.80 cents because they were acting on behalf of US,the shareholders in OUR best interest. Time is ticking...
Pridham projected 3.00 for the combo and we should have 70% 0f that which I figured is 2.10.That's where we should be based on the recommendation of our BOD.When the shares are consolidated we would go to 3.00. That's the price valuation we were told. That's why US Silver Management and their financial advisers,turned down a 1.80 cent offer,because according to all these Pro's ,we were worth 2.10,no less. All these people have an awful lot to explain why they would not recommend we except 1.80 cents if they had any indication our share price would go to 1.50.You see where I'm going with this ?
Management and Directors are paid to make decisions to the benefit of their shareholders.
Hecla just announced termination of the US Silver offer. The price should go back to 1.80 for a couple days ,because that's what they valued it at. If so many investors voted for this deal ,Why is the price sinking? Pridham speculated ,on a 3.00 share price when this is over and done,which means by his calculation USSIF shareholders should have a 2.10 price and RXE shareholders a .90 cent share price. Is that right ?
I never realized how Canadian ,US Silver was. USSIF has just 144,000 shares traded. What makes you believe that it is one singular entity buying shares?Is there a lot of Anonymous buyers?
Merger approved. Extreme disappointment.Maybe now we can learn where the value in the D-mine is, or if it is. I'm holding ,because 1.80 was an insult.Hecla is a production mess and their shareholders should be as disappointed with their management as I am with US Silver management. They needed Galena and will likely never have a better chance to acquire it ,than what they passed up,by their low ball offer.
I don't believe Hecla will be interested in owning US Silver and Gold ,though I do believe they are very interested in owning US Silver. Hope I'm wrong IF...
How does a company that has only 9M worth in assets produce 27 M worth of gold and silver in 6 months?
Mergers are not based on spec value ,or they shouldn't be. Was there a profit on the 27 M in gold and silver? Don't say there will be,because that does not represent the valuation. We don't know and even IF there was a profit ,is it enough to discount 30% of our shares ?. I'll bet NO and the profit, IF any ,will not be much .That I feel confident about.
Besides all that ,you walk right into my position from the start. A Bankable value ,(which is how to access value in a situation like this)would only include economic resources,better known as reserves.
They were valued at 9M because there are NO RESERVES.Your saying they produced 27 M in 6 months of gold and silver ,but at what cost? If the cost was 27.1 M ,How can that represent NET ASSET VALUE. It can't . This is the oldest trick in mining .Playing speculators on the possible intrinsic value of a mine or even a vein. We have no idea the cost associated ,so the value has not yet, been properly discovered.
When companies make acquisitions of resources,usually based on size, grade and pre-liminary economics,they do that with full knowledge that their investment could be a DUD. IE;(The Pebble Project).It is the risk ,they are willing to take,because the upside could be immense. I find nothing wrong with that. Is this the situation?
For about the 4rth time,I have nothing against the D-mine ,it could be a winner but it's not worth 1/3rd of my shares,it's only imo, a cash acquisition that would be better left to a geologist and mine engineer from US Silver to ascertain a value ,there by a price to purchase it.
Thanks for showing this article downside ,We can recognize by the date , that this was all reported well over 2 years ago and RX was operating on their small miners permit. The article states ,with the DEQ ,closely watching the operations. I 'm going to hazard a guess, that they still have that same permit and have done nothing to expand into this potential.
Why ,would RX want to share this ? Why wouldn't, they themselves do a share consolidation,bringing their 168 M shares down into the 40's ,subsequently raising new funding through equity financing .Get at this Motherlode!
I guess their just nice guys and wanted to share.
If the deal goes through today ,I suppose this represents some value (maybe ), down the line .Our company of no debt will be transformed into expansion through equity financing (which is why imo ,we are giving up 30%) and new debt financing ,which if you listen to BNN interview with Blasutti ,he suggests that, as a way of funding.(referencing Canadian Banks)
This deal will completely reshape the company. US Silver was built well, with the only criticism being, it was too heavily diluted . About 300 million shares when Management started wasting money on grandiose plans,that never panned out. The shareholders took it on the chin with an RS ,which hurt us badly ,but it did succeed in presenting a new company image, with an excellent share structure, considering the magnitude of the infrastructure and the reserves present.
We've paid for all the finance ,(through equity) to get our company to this point,it was suppose to be our time now ,for growth through money we've saved and coordinate ourselves into the eventual need for higher priced silver products.
Now ,here we are merging with a group that has a riskier idea of growth ,which ,imo ,is completely unnecessary.
Blasutti mentions MorA with another company that is producing . I would try and reason ,With what? It's seems obvious that growth of the newco will happen ,under Blasutti's leadership through both equity and debt financing,but my question would be , Is it going to be enough to get my share value back ?Has anyone ever checked out the debt load of ABX? They are the biggest,but they have also been downgraded for credit. Forget about the idea of ever keeping excess silver,as a store of value .Lenders need their money.
All things considered ,if the markets stay relatively the same over the next 6 months,Is present USSIF shareholder value going to be better than today or worse ? We are a long way from having 300 million shares and a share price in the .70's. Who has really benefited in the last year ? I know it's not me ,a strong supporter of the US Silver Corp.
I took those figures off the RX Gold website,so don't tell me about being misleading ,tell them.
Your missing a big point. No Reserves at all. Are you saying the resource has changed from the 43-101 summary ?
Your missing the point of my posts. I've said ,the D- mine might be very special but I've not come across anything that would support that theory.Merger deals are suppose to be based on VALUE ,not on value perceived. If the D-mine is such a windfall,Why would RX seek a merger?
Your posts talking about 27 million in revenues is misleading in that revenues are even less supportive of net income than cash flow. I don't care what will be ,I care about what is. Maybe the D- mine is going to be a real shocker and treat us all very well but, Why give RX that positive forward thinking and not US Silver ? Maybe US Silver will strike veins that are also wildly successful.
Stop confusing net income with revenue/cash flow and stop confusing resources with reserves.Those are tactics that are misleading.
This merger is not the disaster that some think it will be.
Q1 has a net loss of 4.7 Million
Total Assets of 9 Million
Total liabilities of 11.7 million
52,000 oz Gold equivalent Measured and indicated
50,000 oz Gold equivalent Inferred
No reserves
Q2 is better ,Right ?
Buying at 1.80 could of been, simply people buying before HL offered more ,which was the clear indication and could still be.
Yes, big difference between net income and cash flow.ie; US Silver PRE tax net income was 8.1 million in 2011, lower than their cash flow. Even more ,IF tax is required to be paid.
So a company that had over 21 million in net income is going to be 70% owner of a NEWCO, formed with another company that had 0% net income and will attain the balance of 30% Approx. Uh huh.
SILVERGOLDENAPPLE In my opinion ,talking to insiders ,IS part of , Due Dilligence,so I don't fault you there ,nor do I question your integrity. I just think part of your resolve concerning this merger has been "because of the opinions of insiders",mainly I think that ,because you mentioned it ,earlier.
I frequently will use insiders as part of my research into a company.Usually,it's a very good idea talking to people with "skin in the game",that believe the same way long term investors believe ,mainly because that's what they are ,which suits me fine.
We always have to weigh the status of the company,when using opinions from insiders and a merger like this sounds like you have to break with opinions from those too comfortable with the deal.Your better now taking a stance with common shareholders. I've outlined many reasons .
I defended the company Directors and Executives on the Yahoo board several months ago. The options prior to the RS were given,imo for no reason but the Yahoo board bashers tried to say the 33m were new POST consolidation.They got a lot of fear out of that.The truth is we have under 7 million in options and warrants ,unless somethings changed without me knowing. Many were at prices very conveniently too close to what the share price was.(if you factor in the split) This helped the decline of the share price. We really need to know more about them and all aspects of them should be made easier to common shareholders . Everybody who is willing ,lets find out more because as NY Bob says.History often repeats itself.Trust me ,this IS an important issue,whether we merge or not.