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Further from JB:
TJAK,
Please point out to the bard that I have only 33m shares and Solid made a
mistake by posting that I had 138 million. The 144 states 1% of the float
every 90 days which is 13,800 a day. 1% of the float is 138 000 so he got
his decimals in the wrong place by a factor of 100 which has upset many and
put yet again doubt into the Petel board which we all worked so hard to get
rid of!
To answer Westerns comment "-These figures do not seem cost neutral to me.
Petel receives $207M for $1.85M. Nobody in their right mind would go for
such a deal." - they did they have and they will.
You state your views on assumptions, as you quote, without knowing all the
facts which is not your fault but there is a major upside to this deal and
Petel took advantage of this opportunity. There are very few share holders
in the acquisition so the parity is on reconciling the pro rata businesses
and potential which means the Petel share holders of which there are many
are treated the same as the target entity irrespective of the numbers
involved. You base you assumption on 1 for 1 being number of shares issued
and not value. Now if there are few Director share holders in the target,
who will no doubt go onto the board of Petel which is a Global business not
a UK business then the picture should start to fall into place. This deal is
global value and not based on number of shares times value of shares.
So this is a true deal, it is signed and the stock will be available for
issue first week of July. My honest guess is it will hold comfortably at
between $0.50 and $0.60 which is good isn't it?
OT. ok I feel like were stuck. I was stuck in PTEL for the longest time, and now it's making moves. So for what it's worth, good luck everyone. Go Ifinix !!
Not sure Bob, it's to new for me. I'm still on the news for next week, but it sounds like TPP might take MDFY??
bid
3-35
ask
1-38
1-385
1-39
2-40
1-45
Sorry solid, I'm not pointing anything at you. But to be fair you have in the past said some very negative things towards JB, and maybe well deserved at the time. I want the same thing you do from this investment. It seems to me we are heading in the right direction with a solid company. Good luck to you SG !!
Good news came out of it, so I see it as a positve. Good luck !!
Good stuff Pick, thanks
No clue. They will let us know i'm sure.
A wire from my bank to Schwab or Ameritrade is $20.00 and takes 1-3 hours.
electronic transfer is free, but 4 days.
I just signed up through my bank to do wire transfers from my office/home. My bank said it might cost me $3.00? I will let everyone know.
In response from JB:
TJAK,
Please post this response to Sol.
In response to the strange calculations regarding the dividend as per the below.
AFTER THE DIVIDEND IS ISSUED THERE WILL BE 143M SHARES (5M THE NEW COMPANY
HAS CURRENTLY OUTSANDING + 138M THAT WE PTEL SHAREHOLDERS ARE RECEIVING)IN
THE NEW COMPANY. PTEL IS PAYING $7.5M ($1.50 PER SHARE STRIKE PRICE X 5M
SHARES CURRENTLY OUSTANDING) FOR THESE SHARES. 143M SHARES DIVIDED INTO
$7.5M PTEL IS PAYING = $ .052 MARKET VALUE PER SHARE OF THE NEW COMPANY.
THIS IS LIKE A FORWARD SPLIT.
Nice Math.
But are we not forgetting something here?
There is no cost associated with this transaction it is purely a stock exchange.
So the way I look at it is Petel is paying 5 million shares at $0.37 to the acquisition target which is a cost, in dilution or any other mechanism, of $1.85m to Petel and its share holders.
The acquisition target is paying 138 million shares to Petel at $1.50 which is a cost to the target of $207m.
There is only a 5 million share dilution to Petel share holders. The stock dividend in both directions is cost neutral so the dividend in stock to both parties is positive and far greater than $0.05.
Petel pays $1.85m and receives $207m.
Simply, little or no dilution to Petel, the Parent company, and significant dividends issued to all at no cost in the subsidiary to all share holders. How anyone can translate this into a forward split is beyond me. If the stock was issued 138 million to Petel and 138 million to the target, then I would agree but this is not the case.
My view is we as share holders get free unrestricted shares; even if they are at $0.20 they are free gratis. Alternatively if you don’t want the stock, any share holder is at liberty to refuse to accept them.
Finally as I am tired of all the bull that is continually posted about me. Yes I have filed under 144 some stock. I am and always have been restricted due to the 10% rule. I have held this stock in certificate form for nearly 1 year and in real terms for greater than 3. I have invested a lot in the company and kept it going out of my own pocket for many years. So to be honest, bearing in mind my restrictions shoot for me for actually taking something back. Also as you will note, there has been an absolutely devastating effect on the pps which continues to rise steadily, week after week…………………Go figure?
As the friend, which you promote on the boards, why be my friend when you want something and then always be the first to shoot me down publicly when you get the chance?
Sol, I have been a friend to you more than you will ever know, but enough is enough. So I wish you well and here is my very last gift to you.
Petel has received an offer on Medify Solutions which will phoenix the company through and IPO. The principles of the deal are very simple. Based on the TPP contract, a new corporation will be floated and all existing share holders in Petel will be given an equal number of shares to their current Petel holding in the newly formed Pink Sheet listed company. Now with that news, the progression of Petel, the dividends and a stock position for all share holders now in three floated companies all granted through a holding position in one company, then either the world is mad or as always stated, the shareholders will be rewarded. As I said, Christmas has arrived early. Surely no-one can complain about that, other than the usual suspects…………………
I'm on it.
bid
1-36
1-34
1-33
1-31
ask
1-38
2-40
1-41
1-44
volume 248,550
We are so close to poping through .40 for good !!
bid 39 ask 40 !!!!
bid
1-.385
1-.36
1-.34
1-.33
ask
2-.39
2-.41
1-.44
It's on !! L2
bid
2-36
1-34
2-33
ask
2-39
1-41
1-44
Well said. He's also way off on Real estate. It's the BEST time to buy, and I am. GLTA !!! GO PTEL !!
I was just kidding West!! Whatever floats your boat is fine with me.
Your smarter than the average bear.....
LOL I thought that too. Ex girlfriend loved to yell at me that way.
I think it depends on what is driving the new company. Revenues, product, etc....
L2 update
bid
2-35
1-31
1-29
ask
1-38
1-40
1-41
2-44
volume 240,000
Update out on the WEBSITE !!!
Shareholder Update
Tuesday, 05 June 2007
Following the acquisition announcement issued yesterday, the Board would like to take this opportunity to update shareholders on progress following the launch of Petel Incorporated onto the Pink Sheets exchange.
Acquisition
• As announced yesterday (4th June 2007) Petel Incorporated is to acquire a UK listed subsidiary. Agreement has been reached to acquire the new company via a like-for-like share exchange.
• All Petel Incorporated shareholders of record on the record date of 11th June 2007 will receive 1 share in the new company for each share they hold in Petel Incorporated. These shares will be issued with a strike price of $1.50 (£0.75)
• Each shareholder in the newly acquired company will receive 1 share in Petel Incorporated for each share they hold in the newly acquired company on the date of record. This will result in a minimal 3% dilution of the current Petel Incorporated share structure.
• All dividend shares will be issued unrestricted and available to trade.
• The newly acquired company will be identified once it has completed a reorganisation.
• The new acquisition will provide the vehicle for Petel Incorporated to deliver truly global, broadband broadcast television services across all sectors.
Forecast
• As announced in May, Petel Incorporated remains ahead of the forecasted hits required to meet the projected financial targets published in the Petel Incorporated Corporate Overview.
• The Company is receiving more than double the 7,000 daily hits required to deliver forecasted year one revenue of $8.1M.
SexQube.TV
• From June 2007 SexQube.TV will embark upon a $1M marketing campaign, boosting the awareness of the channel and its interactive services.
• Easy Pink Productions appointed to produce free-to-air programs including The Sex Shop Show, The Sex Doctor and The Movie Show.
• Casting for The Sex Shop Show, The Sex Doctor and the Movie Show completed and all three series now in production.
Management Team
• Former Penthouse UK Editor Bryan Francis has now commenced his role as SexQube.TV Channel Manager and Editor.
• Ex-National Geographic Channels President Angela Morton will commence her duties as Chief Development Officer within the next calendar month. Morton will work across all brands within the Group, including the new acquisition. The Board anticipates her input will enable the Company to quickly establish a strong position, not only in the US, but also in the Asia-Pac market and capitalise on existing contracts for the newly acquired subsidiary.
ENDS
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Petel, Inc. see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
Next
Sure: bid
1-36
1-35
1-30
1-29
ask
3-38
1-44
bid ask update
bid
3-29
1-27
ask
4-37
1-39
volume 1,475,322
Couldn't have said it better myself. Well stated MB!
That's all good. Gotta love America !! See you when the dust clears !! Bottom line " GREAT NEWS "
True, I was just making an example..
All respect right back at you to west. You might be right, however if that happens I hope you sold(or some of) yours early enough to profit from. It's only Monday, and I'm sure we will have more news before next week. Just mo. Good luck !!
That's because you are smart (smrt) lol. Have a great week Pick.
L2 update
bid
2-35
1-34
1-33
1-28
Ask
1-37
2-38
3-40
volume 914,871
You can follow your instinct and DD, I will follow mine and I will see you when the dust clears. Don't mean to sound rude, but with these pinks that's all you have.
I disagree. My computation.
Friday 4pm you own 100,000 shares of PTEL
Monday 9:30AM you own 100,000 shares of PTEL
AND you own 100,000 shares of the new company that you can trade imo ....... Like I said Christmas in June !!!
Can't really worry about others right now. They snooze they loose.
The way I understand this so far, is that there are no restrictions in any way that I can see on the stock we will get. I see it as 100% free trading and valued at
$1.50 each share. IMO Sounds like an early Christmas to me!!
Bid ask update:
bid
2-36
2-33
1-28
Ask
1-39
4-40
1-44
volume 724,421
BId ask:
Bid
1-36
1-35
2-33
1-28
ASK
1-37
5-40
voume 588,640
Before the open we are:
Bid
2-25
ask
2-29
1-40
1-47
Good luck all !!!!!
ABSOLUTELY !!!