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"The increase in income is related to an increase in net operating income of $992,000 related to the Company's acquisitions $2.7 million forgiveness of notes payable, offset by the $415,000 charged to debt discount expense and interest of $404,768 for the September 30, 2005 quarter."
Forgiveness of debt occurs when a company issues shares to a creditor and then the creditor decides to forego the Debt intrument in exhange for the shares. But the income related to the forgiveness of debt would be the difference between the value of the stock and the debt. The increases number of shares has been due to financing, and because the creditor believes that the shares they recieved would be worth more in the market than the money they lend the company, then, they would rather take the shares and forgive the loan even though the loan is more than the value of shares now. A creditor will only do this if he/she expects the PPS to increase over time beyond the value of the loan. The $992,000 is actual net income from operations (the actual net income if financing never occured). But the other amount came about as I just described above. However, you have to consider the substance and form of the entire profit. If the company decided not to finance its activities, then the O/S could easily be at 99mil. and the revenues would not have bee the same because it would have been impossible to make the acquisitions that took place. I would not sell my shares for less than what the creditors got them for. 80mil shares were issues to some creditor at 0.025, and these shares could be tied with the forgiveness of debt income, meaning that they will only sell them when the PPS is above 0.025. Most of this debt is from assuming the debt of the purchased companys .....Pursuant to the Agreement, the Company is assuming 50% of the debt owed to the Allstate Shareholder which shall be no greater than $1.25 million dollars
One thing I know, they cannot dring it down today, otherwise they will have to fill my big order. Look out for the EOD run.
Happy trading!!!!
I know. Just toying with it. There are people at SMMW who cannot get out because the O/S is 80Billion. When it gets that way, it is better just to do a R/S and let the poor investors atleast get out with a loss. What's would be to it if a company trading at .0001 and no bid, did a R/S?
Do you want some sea food? SFNN is bound to move. Earnings coming in Tomorrow IMO.
No, But I had some Kaching that was freed up and did not know what to do with it. So I threw a spear by the wall and the stock that showed 0.0001 nomatter what the O/S was, was the one that was going to get fed with the free Kaching. It so happened to be PCLO. Atleat they have revenues and profits. Though the shorts have already covered IMO. I can wait for 5 years on PCLO coz it's only $500 I put in it.
Have you looked closely at those insider purchases? They are mostly Preferred, warrants, and options. I don't see any common. Do you?
InfinitiStocks issues a General Alert and a potential Short Cover Alert for JDS Uniphase Corp (Nasdaq: JDSU; TSX: JDU), a leading provider of communications test and measurement solutions and optical products for telecommunications services and network equipment manufacturers. On November 2, markedly improved Q1 results saw net revenue reach $318.1 million, with a sharply narrower GAAP loss of $17 million, or $(0.08) per share, versus a loss of $67 million $(0.34) a year ago. Non-GAAP EPS of $0.03 beat analyst estimates by $0.02. For the second quarter of 2007 (ending December 31), JDS expects higher net revenue of $332 - $352 million as internet and cable providers seek to increase optical fiber density and bandwidth. JDS financial results were impressive enough to cause Deutsche Securities to upgrade JDS from hold to buy on November 3, while Needham & Co raised its own rating from buy to strong buy. Analyst John Harmon increased his FY 2007 EPS estimate by a penny to $0.30, and his FY 2008 estimate by $0.05 to $0.85. With favorable recent views from analysts, InfinitiStocks believes JDS share prices may further benefit from a rapid bout of short covering. As of last month, a whopping 36.10% of the JDS float was reported sold short. The situation appears eerily similar to a call we made August 8 for CWTR, which saw its shares increase over 60% in just under two months. Like JDS, CWTR posted improved quarterly financial results and received two analyst upgrades at a time when the short position was in excess of 20%. InfinitiStocks further notes that JDSUD shares recently underwent a 1:8 reverse split October 16 - a substantial decrease in liquidity - that could make covering the large number of shares all the more difficult.
LOL. Did the $18 PPS scare you?
Nothing much. Just chilling and waiting for this PCLO to pop one day. Hopefully next year LOL.
I do, but only on earnings plays, and short squeezes. This way I'm atleast guaranteed of making some money or staying at break-even. Keep an eye on JDSU for potential short squeeze play.
We will close higher today IMO. I have left a big order at ASK. which is forcing them to move the ask to 0.0205. Its either ALL or NONE. I bet the MMs are salivating at the order right now. SBSH is out of the way at the ask.
Why would you buy a company that is operating at a loss?
Did you see that. I just put a big order on ask (.019) and they only gave me 5k shares, then moved the ask up to .0205. These MMs are not getting anymore of my money. I'm fully loaded anyway. They might need my shares when we get up there.
what's the O/S on this one?
SFNN competitors:
CFC = Countrywide Financial Corp.
WM = Washington Mutual Inc.
WFC = Wells Fargo & Co.
Industry = Mortgage Investment
You mean you the house next to the one you just gave away? I think you are about to buy another brand-new house as soon as we they change that billboard to $5 LOL.
5) Is the transfer agent gagged?
What are some of the reasons for a T/A to be gagged?
I saw that from the start. The only way of making money on shakeerez's pump is to buy as soon as he starts the pump, then sell upon getting 30% gain before noon. That's the way he's been operating IMO. It's the earnings season, thus no need to follow his pump. One can easily make money on Earnings play like SFNN, BZTG, IICP(Shakereez was pumping IICP but left before the earnings, but he got his gains however)
OT:Question! If a company does a R/S and its shares were shorted before the R/S, do shorts have to cover the quantity that were shorted prior to the R/S at current prices, even if the R/S has already taken place? or is it the split adjusted shares that they have to cover?
Question! If a company does a R/S and its shares were shorted before the R/S, do shorts have to cover the quantity that were shorted prior to the R/S at current prices, even if the R/S has already taken place? or is it the split adjusted shares that they have to cover?
Could you update the BZTG ibox? We are bound to start moving. Please update share structure info. BZTG is undervalued and everyone needs to see.
SFNN is expected to move big time. Maybe 20bagger for me.
SFNN, IICP, BZTG = earnings plays
SFNN, IICP, BZTG = Earnings plays
BZTG and SFNN are waaaay undervalued. BZTG is worth 0.094 and SFNN worth 0.47 IMO
OT: SFNN, IICP, BZTG might run big coz of earnings.
SFNN, IICP, BZTG = Possible Strong earnings plays for next week.
Nice day guys. When you see the MMs painting, it makes me believe that the float is dwindling and they probably don't have enough shares of SFNN IMO. When we all have had our 20baggers, we need to have a get together at the HQ LOL. With the average Volume we've been having, I think the float is waaaaaay gone.
I don't think so. The pump is over. Shakereez and the group are done pumping and take some profits IMO.
SFNN, IICP, BZTG = Strong earnings expected next week.
SFNN, IICP, BZTG = Strong earnings expected next week.
SFNN, IICP, BZTG = Strong earnings expected next week.
SFNN, IICP, BZTG = Hot stocks for next week coz of earnings.
Who is really selling when we have good results coming up on Monday. Seems they have not been in the market for long LOL. They are selling at 0.21 and will probably buy back at 0.25 LOL. MMs don't scare me anymore.
This stock was doing good on its own until shakereez started pumping it. I'm glad he sold out with his small profit. Now we can move slowly but surely. The stock has now corrected itself to where is should have been without the "pumping" that was going on. It should be back to 0.3 in a short time IMO since all the pumpers are gone.
what do you all think of BZTG? http://biz.yahoo.com/prnews/061116/lath070.html?.v=83