Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I don't know where you are looking, but on iHub the ask is still $10.01
Click on TEVE above or here to see it.
http://investorshub.advfn.com/Telvue-Corp-TEVE-2013/
Yes, forget it and move on to other things.
Next to nothing is worth next to nothing, which is meaningless.
Even if someone did develop the shell they'd roll it back and dilute us down to next to nothing.
Good luck with that!
There are no winners and shareholders are the losers.
What hedge fund is going to be interested in a company with shares that don't trade? Could they have bought or sold a million shares without driving the price up or down? No. So no interest by any serious investor in such illiquid and money losing company.
This is Gerry's little play thing.
How can shareholders harm OR help you,especially when you are not interested in buying or selling?
In the long run the only thing that matters is company performance.
I don't need to read minds to take an educated guess as to what's likely to happen.
Sorry, my mistake on the executive. Thought it said Jesse Lenfest, but it's Jesse Lerman. Maybe a grandson. lol
In any case. let's wait and see what's next with this company.
All that's obvioius is that it's not trading right now and is losing money.
Every quarter for the last five years you've called the next quarter to be the breakthrough one. At least you're consistent. It just never has happend.
When do you really expect it to turn a profit?
I'm not interested in talking to Lenfelt or to become his friend.
Just trying to come up with some logical explanation of the moves he's making, his age and how the company has been performing in the last five or so years.
Does he need the it or the headache? He's no spring chicken and I'm sure he's making plans to wind things down and to properly pass on his assets whether to his children, his wife or his charaities.
A charity is not going to be able to run or monetize the company.
Who is most likely to have an interest in trying to turn TEVE into a big success. HIS SON who's already a company executive.
I'm sure that's waht you'd do, certainly what I'd do and probably waht he'll do.
We'll see in a few months.
Until then it's all speculation by you, me and everyone else.
The question is what makes most sense.
At some point Gerry is going to want to get out of some of his business commitments, including TEVE and concentrate on his charitable work.
His son is most likely to take TEVE over.
So really the question then becomes what kind of company does the son want. Public, private or cash out.
Who needs the the additional cost and the scrutiny of regulatory oversight for what is essentially a private company (insiders own over 90%). Any sensible businessman would simply go private, try to turn the company profitable and then consider going public again.
I don't see people clamoring for TEVE shares otherwise there'd be some trading going on. You might those shares a long time whether you like it or not. (unless the company goes private and forces you to sell at the price of their choosing.)
10bagger,
In round numbers, after the reverse split there are some 600,000 shares.
Lenfelt holds over 90%. That leaves a max of 10% of 600,000 or 60,000 potentially available, unless Lenfelt decides to sell.
Now joe and others here hold some so your 58,000 number is close although they'll "never sell".
So even at $100 a share you might not be able to get more than 10 to 20 thousand.
By the way, don't rely on convincing anyone of anything using logic here.
This board is a logic-free zone.
You certainly have the right to call whatever you want anything you want.
However, callikng a dog a mouse doesn't make the dog a mouse. It's still a dog.
Same with advice and opinions.
Here is a definition of opinion. Even if you call what you put out as opinions they're rarely if ever supported by facts or evidence, only your personal beliefs. Kinda like religion. Has to be taken on faith.
From Wiki.
In general, an opinion is a subjective belief, and is the result of emotion or interpretation of facts. An opinion may be supported by an argument, although people may draw opposing opinions from the same set of facts. Opinions rarely change without new arguments being presented. However, it can be reasoned that one opinion is better supported by the facts than another by analysing the supporting arguments.[1] In casual use, the term opinion may be the result of a person's perspective, understanding, particular feelings, beliefs, and desires. It may refer to unsubstantiated information, in contrast to knowledge and fact-based beliefs.
The first part of your post is not opinion but advice. There is a difference.
Are you a qualified financial advisor?
Why not keep going for those who can't divide by 200. Actually just divide by 2 and call it cents rather than dollars. $100/2 = $50 -> .50
$40.00 = 20 cents
$30.00 = 15 cents
$20.00 = 10 cents
$10.00 = 5 cents
$6.00 = 3 cents.
$2.00 = 1 cent
The $5 million was advanced by Lenfelt shortly before this January press release. It's the $5 million for which he was issued the dividend paying preferred shares.
January 18, 2012 - (Mount Laurel, NJ) TelVue® Corporation (OTCQB: TEVE), a leader in IP Television Broadcasting and Internet Video Streaming, announced today that it had executed an agreement with H.F.“Gerry” Lenfest, its Chairman and majority stockholder, under which approximately $30.6 million in debt and accrued interest held by Mr. Lenfest would be converted into TelVue common stock and new preferred stock.
The agreement is subject to certain conditions, including stockholder approval of the agreement itself as well aschanges to TelVue’s authorized capital stock and other matters. Under the terms of the agreement, a promissory note recently issued to Mr. Lenfest in the principal amount of
$5.0 million, which was designed to provide funding for development, would be converted into a new class of redeemable convertible preferred stock, with a conversion price of $0.35 per share.
The new class of preferred stock would have an annual dividend of 4% payable in cash or in kind, at TelVue’s option. Under the terms of the agreement, the remaining debt and accrued interest through the effective date would be converted into common stock at a price per share of $0.35.
Pending stockholder approval, the agreement will eliminate all of the Company’s outstanding debt to Mr.
Lenfest. TelVue plans to hold a stockholder vote to approve required elements of the transaction.
“This agreement represents a major step forward for TelVue,” said Jesse Lerman, TelVue’s President and CEO,
“We believe that, pending stockholder approval, the Company’s balance sheet, fortified with the recent $5.0
million funding and debt conversion, provides TelVue with a solid foundation for expansion of its current
broadcast products and services and will assist in establishing TelVue as the provider of choice in the rapidly
growing area of cloud-based video services.”
What you describe is one likely scenario. No fuss, no muss.
agri, one of us is missing something. I thought that first Lenfelt converted the debt owed to him into shares. Then he loaned Teve another $5 million in exchange for futher shares. It is this added $5 million that is intended to fund the company for the year (or however long it lasts). This is where Teve's current cash comes from.
So it likely will last the rest of this year, which is now only eight and a half months.
Why would they have done it before? At some point Lenfelt (or hiw wife) decided that enough was enough.
This was as good a time as any. They may need to take a decent interval between the R/S and going private.
By the way, I've seen no evidence of any shares being shorted. Please provide any such evidence you may have.
I do see a correlation. The R/S appears to be an admission by Lenfelt that something had to change as the company kept losing money and he wasn't prepared to continue to fund it.
It appears that the company will either be taken private with existing shareholders being traken out at some price that Lenfelt or the buyer will set. Since he owns 90%, taking out existing shareholders can easily be done, again, by him or the new owner.
Do you think he will pay $100 a share? Since he can set the price, it's more likely to be closer to $6 than $100.
Yoy say no shares have traded. My understanding is that a few shares did trade. If even one share can change hans, then the shares can be traded. It's just that there is no agreement in the market as to what the price should be. Not many want to sell at $6.00 and the same for buying at $100.
Jack, you said:
"FLAFLYERSFAN the stock has not traded in weeks. Here's the latest from Bloomberg and guess what, it's a snapshot of the last time the stock traded weeks ago. That's why no one is buying - or selling for that matter."
You say that people are not buying because there is zero volume. You have that backwards. The volume is zero BECAUSE no one is buying.
I'm not interested in either. Just a curious observer.
Makes no difference - goor or bad. No one can get out now and no one wants to get in.
Why have a forward split when they just had a reverse split? They could have just had a smaller split. Much less disruptive.
More likel to be taken private.
Joe, there were some 45 million shares out prior to the debt swap. Then the debt was exchanged for 75 million shares resulting in a total of 120 million shares being issued. These were then rolled back by a factor 200 to 1, yielding a current issued number of shares of around 600,000. ( 120 million/200 )
Before the debt swap, the market cap at .50 cents a share was 45 x .5 or $22.5 million with $25 million or so debt.
Now, at say the $100 sp, market cap is $60 milion with no debt.
It'll be interesting to see where the sp settles once trading starts. Volume is likely to be very, very low. In the first three months a couple of hungred thousand shares traded for a total value of less than a hundred thousand dollars. At $100 per share, the volume is likely to be a few hundred shares a month.
Have a look at the interactive chart instead and select CUSTOM / YTD and you get this
http://quotes.wsj.com/TEVED/interactive-chart
It shows 8 shares traded on March 16 and no shares since. Odd. Not sure what the $99 price means with no shares being traded for two weeks.
Joe, it's not that shorts WANT TO cover, it's that the buyers of those shares need their certs to be able to submit and have them converted to the new certs. The naked shorts would NEED TO cover to get out of the obligation to produce the old certs which they would not have.
If there really are naked shorts out there this is the way to flush them out. That's why the absence of major covering suggests that if there are naked shorts out there, they are few in number.
That was unexpected! Must be an April Fool's joke. lol
You're right. The company has enough cash for the next twelve months but then either needs more cash, increased revenues or reduced costs. I never said otherwise. But why waste half a mill a year on compliance? It's unncessary, wasteful and a pain in the a**.
Shareholders don't lose. They'll probably get the .50 cent per share old price or $100 per share new price which is much higher than the average of the last few years.
Going private makes sense. Why bother with costly compliance issues when it's not necessary or useful. The only reason to be public is to raise funds for the firm and to provide liquidity for shareholders. Neither is true in this case since as qtip puts it, "No one sells TEVE shares" and Lenfest clearl doesn't need money to keep the company going.
Losing $2.5 million per year, year after year, will not attract the average investor or analyst no matter now good a company's product might be.
What's a company worth? Use 20 times earnings or three times sales but let's be generous and say four times sales.. Can't use earnings here since there in none. Sales are or will be say $5 million a year, giving TEVE a value of #20 million. With 700,000 shares out that's $30 per share per new consolidate share or 15 cents per old share. That's about the average share price over the last few years.
Now unless there is a short squeeze with the supposed short position of millions of naked short shares out there claimed by joe, there won't even be a spike above about $50. If there realy were a large short position, the shorts would have scrambled to cover once the consolidation was announced. I didn't see any such rush. So I don't believe the short theory is correct.
But we shall soon see.
One way to reduce costs is to take the company private. With Lenfest owning 92%, it would be pretty straight forward.
Then he could continue to fund it or sell the company.
Just need to sell my Kane at the current price and I can get my new Maserati!
German court dismisses Apple/Samsung cases.
http://www.theglobeandmail.com/news/technology/tech-news/german-court-dismisses-cases-in-apple-samsung-row/article2356303/
Calif, I had a brief look at SNDY (not that I'm planning on investing on any more pink sheet companies, but a couple of things came to mind.
1. Have they got FDA approval for the use/sale of their product?
1b. If they don't have FDA approval they can't sell these things
1c. To get FDA approval will take milliins and years - where will they get the money?
2. Why aren't these being used since there were many studies done on it ten years ago?
These medical things can take time.
I have a big investment in Kane Biotech. They're going through the FDA process and it's expensive and time consuming.
By the way Kane came up with a corporate update today (link below). Currently 60 million shares out, sp 10 cents. They expect to see revenues by the end of the year and are working with the US army to test their anti-biofilm agent. Very promsising.
http://sn106w.snt106.mail.live.com/default.aspx#n=474334167&fid=1&fav=1&mid=cab5de71-5d5d-11e1-97ff-00237de3d374&fv=1
Has it really been six years? Wow.
You have a much better memory than I do. I have no recollection of any of our interactios.
The lesson I learned from pink sheet stocks is to simply stay away from them. iPackets was and will remain my last one.
Take care.
I think you are right about Kanno.
Well, I'm not so much here as I still have iPackets on my list of "favorites" just in case.
I got all excited when I received a Google alert for iPacets.
Unfortunately it was this:
WAAF's The Bachelor Part One
WAAF.com
Such as the media only is this when you jealous as I packets in drama and girls talk to me and I mean -- I can't I'm not and from now until.
Paulson has sold his entire stake in BofA and Citigroup.
http://www.bloomberg.com/news/2012-02-14/paulson-sold-his-stakes-in-citigroup-bank-of-america-ahead-of-share-rally.html