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Only question is which way will the next storm blow?
I am watching this one closely too. A retired, extremely wealthy old old timer mentor of mine told me to watch this one for buying ops. He already bought a bunch of it.
Wish I new more of the history and current status of this one.
I am watching for a chance to buy and add. I am expecting a hard market wide Pull back by April, after Quad witching (OPEX) expiration and tape painting for mutual fund quarterly reports at the end of March. This current market rally has real weak legs and is likely to correct down very hard early in April, like the late Jan early Feb drop did. That plus this recent dilution price drop may give us the chance to pick up more cheap shares. I am still holding what I bought way back in the spring of 09. Not a big position, but I am going to slowly add and trade as needed (huge highes and lows) while I build a small but larger permanent position in this one looking at the 5-10 year picture.
What I like most about this one currently is all the DOE grants they got.
Don't know if we will get lucky enough to see some .60-.70 prices, but I have dry powder ready if we do get there. What ever lows we do see in the next 4-8 weeks I will be add at them.
GLTA
NNA?
Can some post a link to the defense department bid topic.
I was checking Max pain today, and it is quite interesting.
NM march is $5
NM April is $7.50
That is a 50% increase!
NMM is flat month to month, both at $15.
http://www.optionpain.com/OptionPain/Option-Pain.php
Good catch, thanks. Been fighting a nasty head cold, not surprised I goofed on that post's decimal, 11.5 million market cap sounds even more reasonable with the 2 front line products so near to becoming revenue positive, compared to most biotech's and their someday wish list of product hopefuls....I see a lot less risk with this one than I do with many other small biotechs right now that are facing huge stage III trial expenses before they can even think about marketing.
Good news, we have an SEC filing today with some details. The new shares are about 5-6 months away from being sellable (MHAN has 60 days to register the shares, and a 150 to 180 delay after that for them to be sellable, if I read the SEC statement correctly). I was stuck by the large number of accredited investors that bought this round of investment! The lucky number was 77 accredited investors that bought the new shares! If those are new investors, that is good news I think. An average of a little under $30,000 per investor.
I am surprized that you are not expecting a higher average price after the merger is completed, due to the added value of the take over targets pipeline. Keep in mind, the Ariston investors and possibly some of their creditors will become new MHAN stock holders as well, with a brighter future for their new shares than they recently had for their old holdings. I am not saying we will not see buying ops under .07 again, but I think you are underestimating the up side potential here this year.
http://eresearch.fidelity.com/eresearch/goto/evaluate/news/basicNewsStory.jhtml?symbols=MHAN&product=SECEDGAR&provider=TENKWIZ_&storyid=201003051514TENKWIZ_SECEDGAR_6812009&hlinks=vnhl
I have a lot more faith, and a lot less doubt in the near term survival of this company now than I had off and on the last 6 months. Frankly I am somewhat amazed that a little stuggling outfit like this one was able to pull of the financing and merger / acquisition at all under current conditions.
Enjoying the chat, nice to have a mild opposite to discuss both sides with, helps keep us both from overestimating one side of the picture!
Go MHAN!
GLTA
Only counter argument I can make on that is there was enough new demand to soak up 36 million new shares at .065 on the financing deal, which makes me feel like .065 is reasonable price here. If the market cap gets moved to 115 million after the merger, that would support a .10 price with all the new shares. We have not seen an ask under .065 in week now.
Yes, once the merger is over, there may be a chance to buy some dumped shares at lower prices this year at some point, But I think we will see at least .10 to .12 in the near future too. I am glad to see the offer double today!
We will see! LOL.
GLTA
As of 11:15 CST today:
Bid $0.065
Bid Size 50
Ask $0.073
Ask Size 50
Open $0.065
Volume 100
Day High $0.065
Day Low $0.065
Things are getting heat up today with this one, LOL.
But the interesting point is that the bid is now up .065, and the ask is now .073, which I find significant. No sellers, or buyers.
Question. Since they fixed the rates on those new Capex ships (and many others), how will they gain from any upturn in the BDI rates? I have not had time recently to keep up here, so my question is this, did NM and NMM set any kind of profit sharing in the rates on those ship leases that allows them to share in BDI rate inceases? I read somewhere where one of the BDI shippers had done that on some leases in the last 12 months, but I forget who they were. I sold all my NM and NMM shares, and went to cash back in Feb, so I am window shopping now. I did quite well with NM and NMM in the past! I sold off in concern of a possible big market correction.....to protect profits, not because I felt NM or NMM had peaked long term. I was just getting tired of routine hair cuts by the volatility.
GLTA
It is amazing how far the price has gone up, just waiting on the next news event, based on expectations of the CEO's return from Asia.
It went much higher, on a slow gradual climb here than I ever expected.
There is still a price gap way down at .22 (or close to .22), that has me worried about holding to much of this one during a pull back, But I still have a base core of shares I am holding for the long haul, due to lack of predictability of news on this sort of stock. I have orders at that .22 gap that I have had for ages now, but the .30 support never broke.
The technology here is quite real, and has an impressive future ahead of it IMHO.
GLTA
Great, thanks for the post. Will watch the price closer this week for sure now.
Oh, and that is one scary as looking ankle bitter, I will be having nightmares after seeing that now!
On another topic, I have seen no real discussion here about their second, most recent move into acquiring other companies in the fertilizer business. The last one they acquired (12-18 months ago) is turning a net profit (it was a smart move), while there original main facility is still an expanding black hole (of sorts) losing money. Since they have plenty of cash for now, buying profitable operations at distressed prices (I assuming that part, which may not be right) or at prices that can show an immediate profit on increased sales (they have already expanded sales staff, and may need product to fill orders), may just save this outfit from future disaster around the problems at the original facility, and or may buy them added time to fix those home plant problems we heard about in the last quarterly report.
Hopefully we will get on going news of sales increases, other mergers (takovers), Walmart sales expansion to help move the price higher this year. I don't have a crystal ball on this one, but in review, they need to get the price up and hold it over $1 to meet the Nasdaq delisting letter warning requirements this year. I have not seen the year end report (I may have missed it?), but I expect it to be bad news compared to all the recent good news, maybe the last of the worst of bad news as far as losses go, mixed with a huge increase in cash and last years stock dilution from raising cash. The 4th quarter loss per share probably will fall due to the dilution late last year, but stock holders equity which was negative at the last quarterly I think, should be way up in the 4th quarter report. That quarterly may be the last chance to add shares at under $1 when it happens, with all the recent and ongoing good sales, Walmart, take over merger news of buying existing, competitors that can add immediately to the bottom line, and the show and tell you just posted where potential new investors are being lured in. If I get the chance, I will be adding at prices under .80, if we ever see them again, but for now I am holding what I have and waiting for any April market correction, and the 4th quarter report to do any price damage it might do, before I add again. I am still long with my original long term base position.
GLTA
Never heard of it.
On MHAN, I had what I think is some clarity of thought on this one over night. It finally dawned on me that the big players, and more importantly the 2 merging companies may have contractual reasons in the merger agreement that we are not yet privy too, to hold the market price in a narrow range until the merger is complete! In addition to the price set of .065/share by the 2.5 million dollar fund raising event we got news on last week.
I still believe .065 and anything lower is now a solid buy, JMHO, but I am in with buys from .02 to .09, all since about March 09. I have been holding the whole time. I did quite well with the .02/share shares, which I still hold.
I think there is about to be enough new stuff in the pipeline to substantially raise the market cap on this outfit. IIRC we hit .15/share not too long ago, on much less news than we have now.
GLTA.
What does that have to do with COIN?
On another note, did we ever get the year and 4th quarter earnings report? If not it should be out soon.
Not taking sides here, but even if he did increase holdings during the recent drop, one could still say he was just supporting the price by putting a floor under it as an existing major investor.
If the best you can get if you sell is .04, why are the orders only selling at the .065 ask?
I might offer to sell 100 shares at .060 just see what happens Monday.
I am just a little curious, does any one here have any open orders for shares at any price above .032 which is listed as the bid today? No shares sold yet today. I can help but be suspicious of the huge spread they are showing today. makes me think the MM is trying in some cheap sellers.
I know for a fact that many times my bids never even show up in the bid area, not just here, but in other stocks.
The lack of any volume says something, but I not sure what it means yet. No buying or selling at all with yesterday news out.
COIN already diluted, and have enough cash to last 6-12 months now. I think they are stalling on earnings to report to try and make and hold $1 for 30 days (? what ever the time limit is for Nasdaq), due to the letter they got about stock price earlier this year. The quarterly will not be good, IMHO. I still some have shares and warrants, but I am waiting for market correction, and the quarterly to set the low before I add again.
I hear you, I get it all, and I just don't see dilution the way other investors see it. I think you miss understood me. I think the market cap is now going to be much higher than 5 million, due to the financing and merger. I will be surprised if we don't see .15 this month. These new investors did not buy new shares at .065 to sell at .035, they know something we don't know! They probably dumped the shares on Monday to push the price down to buy more shares back real cheap. or someone panicked at the worst possible time. No way of knowing.
Here is my take on raising cash and dilution with new shares. If the company is making a profit, significant dilution has an immediate effect on EPS and is negative, and the stock sells off. Biotechs like MHAN on the other hand live on fundraising, so dilution dilutes the losses per shares, reverse effect on EPS, and it extends the game to extra innings, with the possibility that they may finally turn a profit, or cut a new deal on a promising new drug....etc. We know merger news is just 2 weeks away now. I expect a PR frenzie next and rising prices by then. If we get any pull back the next few days I will buy more. I tried to buy shares the day when the price dorped on a big lot sale to .025, but the ask was right back at .065 immediately after that sale went through, and it never turned up again this week (the low prices).
Thanks for the clarification. It all makes a lot more cents now (not dollars, LOL). I was starting to wonder If I had made a mistake jumping over board here. I lost more on this stock than I want to admit. Evey time I bought it I lost money, mostly due to the games and backstabbing of the bag holders that they blindfold and stabbed in the back when they got desperate for cash. I got burned no less than 5 times buying this stock in the last 16 months due to the accounting games. DRY is another one to avoid.
It is getting nearly impossible to predict earnings for any company now days, especially with them all playing dangerous games with interest rate and freight futures. I am seeing all kinds of derivative games and losses on all sorts of companies quarterly statements now, that scare the hell out me! The Ethanol companies all got burned by Corn and ethanol futures and interest rate derivatives that blew up on them and bankrupted them.
Rant over:
On another note, the BDI has gone vertical the last 2 days with major moves in Capex rates.
I looked at the patent on this thing when I first invested here, and was quite impressed. I do all my own vehicle work, engines included.
I think this is very good news!
The opening ask was .065 this morning and I had a bid for the first 10 minutes at .07 that they never filled. I got suspicious and lowered my bid to .065, and they finally filled the order 5-8 minutes later. It was the first sale of the day. I bought the first two 5000 shares lots, only 2 lots in the first hour. There were no buyers, but a firm sell bottom of .065, that lasted most of the day. The spread all day was only .065 to .069, where as it ran from .07 to .025 earlier this week, monday I think it was.
Anyway, it will be a lot more interesting here the rest of this month.
It is my understanding that they can buy those only for .08 which goes to the company, but I do not know if the stock must reach and hold a trigger price for a certain time first, which is common.
If the stock is worth .08, and all the warrants are converted at .08, the company swaps new shares for .08, when the existing shares are worth .08, where is the dilution? It improves the compnaies cash position and it future potential based on the improved cash.
The next question is what will the merger cost us!!!!! My guess is the merger will cost us about .01-.02 a share in real cost (stock dilution) wise for what we will get. I expect the creditors are going to take mostly stock in MHAN for Debt that is worthless with out the merger!
That ask/bid spread the last few days was a real joke. Some body that sold at .025 earlier this week must be real pissed by now!
The guys buying those units today at .07 share are expecting to sell for a higher price, and currently their new shares are not registered and can not be sold until they are registered. They may have further selling restrictions we do not know of, but they won't be selling for less than .07, so that sets a floor there. Also it increases the cash on hand by 500% or more (does someone know what cash on hand was?, it may be more like 1000% increase in cash). On going losses per share will drop due to dilution (looks good on the books to new investors). They now have cash they badly needed, and have added several items to the drug pipeline, at minimal cost IMHO. I am impressed with what they have done.
But as a wise man once said: "We will see" I doubled my shares today buying at .065, but what puzzles me is why the offer price sat unchanged almost all day today. Tomorrow may change this as people catch the news over night that do not day trade. I had my old shares on a sell order at .08 till this morning's news. I changed that sell order to .15 today, and bought more at .065.
I think this one is just still sleeping. No one watching this one anymore. It should wake up soon. Maybe we should buy 100 shares at .20, and spike it so it will hit the big % moves BBs, LOL.
What I can not believe is that people have not raised their offer to sell prices yet. They are giving it away at .065, it took forever for my 2 buy orders at 5000 each to go through. With the market rally underway, they may be busy with other trades.
But the number crunching I did on the news their yield on the offer was .06/share in new cash, and we can sure the acquisition is going to be a dirt cheap buy for MHAN, as they have no other suiters. I can see this stock back at .25 to .50 in 1-2 years I think with the additions to the pipe line, and pending real product sales like hedrin.
What what I read the warrants are .08, and if excercised the .08 goes to MHAN. Also the 102 units are not registered yet, and therefore are not part of the float yet! I am buying all I can up .07 today! Already bought 10,000 more
Merger news and financing news is out see post 57!
I did a calc, the finacing gives them .06/share of cash in the bank! And the merger will complete in under 2 weeks!
Heads up folks, I am buying all the MHAN I can get at this price. News was out an hour ago that they got 2.5 million dollars in financing and will complete the merger in less than 2 weeks! MHAN is still only .065 as type!
Manhattan Pharmaceuticals Completes $2.5 Million Financing
BY GlobeNewswire
— 07:35 AM ET 03/04/2010
NEW YORK, March 4, 2010 (GLOBE NEWSWIRE) -- Manhattan Pharmaceuticals, Inc. (MHAN
MHAN MANHATTAN PHARMS INC 0.07
Change 0.00 (0.00%) AS OF 12:00 AM ET 03/03/10.
Chart for MHAN
) today announced the private placement of $2,547,500 of its common stock and warrants to accredited investors. The Company intends to complete the previously announced merger transaction with Ariston Pharmaceuticals, Inc. within the next two weeks. The net proceeds from this financing will be used to advance the combined company's products including AST-726, a nasally delivered treatment for vitamin B12 deficiency, and Hedrin(R), a non-pesticide treatment for pediculosis (head lice), and for general corporate purposes.
The Company sold approximately 102 units for aggregate gross proceeds of the offering of approximately $2.55 million and aggregate net proceeds of approximately $2.2 million. Each unit consisted of (i) 357,143 shares of common stock and (ii) 535,714 warrants to purchase additional shares of common stock at an exercise price of $0.08 per share.
The securities have not been registered under the Securities Act of 1933, as amended, (the "Securities Act") or any state securities law. The securities offered and sold were issued in a private placement transaction and may not be transferred or resold except as permitted by the Securities Act. As part of the terms of the private placement, the Company has agreed to file a registration statement to register for resale under the Securities Act the shares of common stock underlying the units. "
I suspect the MS sold them to himself and plans to distribute them at .07/share. We will see if more sellers give up. I think some one just bailed finally, tired of waiting while everything else was going up this week. OR! Some one shorted the stock, to start some selling so they can buy cheap!
We just hammered into the stonage, .03 this morning. I put in a large bid to double my position at .035, but no takers yet.
We gust got hammered down .03 on 140,000 shares, with no news that I can see.
A retired oil and gas $$$$$air friend of mine says he bought a bunch of this stock for his Gkids, as he knows and likes the management. He told me this after I told him I was buying, and adding shares. I did not even know if he had ever heard of the company since it is so new when I told him about it, so I had already been accumulating when he told me it was a keeper. This same guy has been telling me to stay in cash lately for a big pull back coming this year, including most oil and gas stocks. So I am still adding shares every time it pulls back lower. I have no idea how low it will go, but it is the only stock I am buying and adding to right now. It already nearly took off last week, up some 35% for a few hours one day before it dropped back. The daily volume has been very small on the pull back days.
Anyone here got a concise story on the status of this bank?
Will it survive, if so why? Why is price so low?
That requires sodium hydroxide unless they have something new I don't know about, and would be too costly, and impractical in any real quantity. If the DOE gave them money, then CABN should have no problem getting a grant too, IMHO.
I am hoping some one has the time to read the 100 page (typical size) quarterly report for us (I am too busy these days). The answer certainly would affect the target value of the Stock.
I found a sell-if (but NOT a sell!!!) status on EK at the americanbulls.com web site, a candle stick analysis site for stocks.
http://www.americanbulls.com/StockPage.asp?CompanyTicker=EK&MarketTicker=NYSE&TYP=S
Americanbulls.com posted a buy-if signal on CABN Friday based on candle stick analysis.
http://www.americanbulls.com/StockPage.asp?CompanyTicker=CABN&MarketTicker=OTC&TYP=S
AmericanBulls.com posted a buy-if on their web site for COIN Friday based on candlestick analysis!
http://www.americanbulls.com/StockPage.asp?CompanyTicker=COIN&MarketTicker=NASD&TYP=S
Americanbulls.com posted a buy if on TTEG based on candlestick readings Firday:
http://www.americanbulls.com/StockPage.asp?CompanyTicker=TTEG&MarketTicker=OTC&TYP=S
I was pleasantly surprised to see us up all day Friday on good volume, in a near crashing market with no fresh news.
Does anyone know when the last quarter report is expected?