Moving the Shrimp to Fiji, if the plan works.
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Personally, I think a deal would be better than trading without any information distribution going forward. Form 15 eliminates their duty to report.
I'm locked out if the block keeps moving down, and the buyer keeps out bidding me. Back to wait and see. This time holding the bag.
Got a huge spread. Room for my broker to make some money in the process.
The 25K is a carrot. I dangle it. If it sells I move the proceeds to the bid for support.
The guy with the 4.5 milly doesn't seem to understand that they have to buy my 25K before they even think about scratching that.
Playing hopscotch on bid and ask this AM. Or is it leapfrog?
Nice page. I got my feet wet. Picked up that 150K shs. at the ask.
All of the old PR's from the NYSE days seemed to make him sound knowledgeable and experienced. Let's hope it's good news on the way. Don't need a "Box Ships" site if they get bought or merged, for instance.
Gotta line up the money men to buy him a Christmas present. You know what I'm saying. Money is nice, but it don't float your boat, you need someone who can rehab the ships, get a crew, and maintain the equipment. I wish I knew the industry better. I just want to launch it put people to work.
Looks like cheap ships are still out there. Maybe someone with money wants a crew? I know a guy.
Interesting. What happened to the Hanjin ships? Did a buyer show up, or did they scrap them all?
the guy at .0058 is telling him to fish or cut bait. There's another euphemism, but it's not for prime time. He might decide to just get off the pot, so to say.
Taking the milly was a bold move, but it's really just an expensive gamble unless they had a plan. The ask block asks if he's serious in no uncertain terms.
To "make rain" you need to have those shares, and get "Boogaloo" on your side, and/or have the financing for new ships etc.
My math shows about 15% of the company on the ask. You don't get opportunities like that very often. Let it rain.
We throw in a meaningless bid, and make sparks fly.
Looks like the seller doesn't want to come down, MM wants to take in between and the Rainmaker is patient.
I'm really busy in the Hatchery, got my irons in a few fires. Appreciate the extra eyes.
My slow eyes didn't pick that up. Raised the size on the bid. Did you see that, too?
Good call. Raining on the poker game. Who's bluffing?
Weather girl still sees no clouds in the forecast. Eyewitness Temp, on the scene.
Or he's a rainmaker, and is setting up his move.
I saw the guy bidding for a milly, then he got whacked. He got the shares. Then bid went back to .004. I bid the .0048 and the MM's took the tweeners. Didn't give me any. Somebody smacked the ask, or maybe it was paint. That's the only news. Eyewitness Temp on the scene.
All hands on deck. Prepare to be boarded.
Interesting activity. Shot across the bow. All quiet on the IHub front.
Took my money off the table a while ago. Still fighting the Amazon game. Still needs a way to bring the retail district back from the dead. Not expensive if they pull the rabbit out of the hat. Might be buying on a pull back as I wait. Still pays the dividend.
These penny stocks double and triple all of the time. I've even done a few ten baggers. It's important that they keep trading, or they are essentially worthless, even if they own $10 million in Real Estate, or ships, as the case may be.
When you start out on that elite platform, it's really hard to gear up your attitude and sell shares for less than a penny.
My thoughts on the company and the CEO start at post #15. I think I might have mentioned that sentiment a time or two. It's a failed business model due to a change in the way people do business, and a temporary container glut. Pink sheets are full of failed business models. Rare to find the "crooks" who started at NYSE and came down here.
And I just checked. That company is still "active" at Nevada Secretary of State. https://www.nvsilverflume.gov/businessSearch It just doesn't trade.
I screen capped the image. I'll probably have to upload it to Twitter or Gab to show it here.
I'm not "promoting" it. You can't buy it. Just passing relevant information. I hope this doesn't get deleted by intolerant observers.
Another common scenario, they filed certification with OTC, and "some" companies make reports to the market. I can't remember the specifics, but if they give periodic info, they can still trade on the pinks until a major development happens. Trading is my main interest. I've held quite few stocks that end up getting suspended. No payout. One company, owns about 10 million in Texas Real Estate, didn't report, didn't pay, got suspended, didn't file Form 15. I still have it, FWIW. Never hear a peep.
I've seen a few Form 15 filings before. I can't remember any where shareholders got paid. They just trade zombie style. The SEC is powerless to suspend them because they no longer have any obligation to file reports. Sometimes they trade pink, sometimes grey. They don't have 2.7 million. They have a receivable. The receivable can be paid in the form of stock of the "new" company. It's a common reorganization scheme, but not used every time. Either way, stock dividend, or cash dividend, preferred has prior claim.
The best option I see, is for the debtor, to offer equity to the common and prefered in a stock swap. Considering the profits made on the sale of ships (to aand by other entities) the equity could be far more substantial than any collection of debt "on the books."
If he doesn't liquidate or pay a dividend, how are common holders supposed to get any money?
I think more great things are ahead. The sector is very troubled, and we feel every spasm.
As they say, the devil is in the details. A liquidation payment to common would be a declared "liquidation dividend" Have a nice day.
https://www.investopedia.com/terms/p/preferredstock.asp
You get your money back? What about everyone who paid $2 a share for the common, or $20+ for the preferred? Tax deductions, not $.
Investing in a failing business model isn't a crime. Being the dedicated leader, and trying to pull the strings together during a failure is how most companies end up on the pinks. The schemes they try are repeated regularly. Nothing illegal about a voluntary swap of preferred for common.
The conditions aren't right. They might never be right.
"If conditions improve" isn't a lie. It's a conditional.
He who holds the majority of those shares holds the company.
His majority became larger with each conversion.
The holders of the preferred can take them to court and force chap 11, IIRC. If they owe anything to anyone, that person can file.