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StocksKC, I just picked up more shares at .00017/share....DerFuh
TGTL2005, I bought 800,000 shares @ >.0018/share a few minutes ago...Averaging down, down, down....DerFuh
http://www.leondegrelle.org/divisionwallonie.html
TGTL2005, Gosh you are correct. I am looking at a volume chart. Trading volume has been on a pretty consistent fade since last July....DerFuh
VC, The Fuhrer says patience is required here...no retreat.... ja?
TGTL, I think you are right. The buying has been casual, but consistent, although the total number of share traded daily has faded a bit since July. That suggests that someone (SBSH?) is buying and holding the shares....DerF
I knew a wacky jacky from Houston once. TGTL, the great truth is that Sib still wants to take the company private. Nevada law requires takeout of remaining shares at or near FMV lest one triggers the dissenters' rights provisions....
Orangeman3, "Wacht am Rhein" or "watch along the Rhine", the Fuhrer is ready and holds a long position, but he also tips his hat to the traders who have worked in and out of GBDX....
starfire, Agreed. They need to do it right so that if they decide to take the future company public, then they have no old warts left over to impede them....
starfire, If GBDX has to clear up some SEC issues, then that would suspend the running of any state law 60-day securities period until the federal issues are resolved....
zahnj, If true, then the federal issues will not impede application of state corporate law....
zahnj, Right, as described by Willy they sound fairly benign from GBDX's perspective. Nonetheless, they need to be addressed which takes time....
axeman, Especially if they need to resolve SEC issues, then any state corporation law deadline will be put on hold until the federal SEC issues clear, if they have to resolve any SEC issues....
zahnj, Like surfers, they are riding the waves, rather than riding the ultimate buyout/merger...DerFuh
GernalIT, The flippers are okay and do provide a vital service in that they provide liquidity to the market. If they can make money moving in and out of positions, then more power to them......
orangeman, Well I could be wrong but one never makes a dollar unless one is willing to take measured risks. This looks like a reasonable risk, looking at the bullish commodity markets, and the desire of major companies/governments to control the mining, distribution, and sale of those commodities....
orangeman and cicero, I am averaging down, assuming a turnaround. There are stocks like Enron that did go to zero; however this is a takeover stock and a takeover story where control of the company has already changed hands; so that should make for a lower risk and offset the lack of information.......
orangeman, I just purchased 400,000 shares @.0023/share, well about five minutes ago....
My Brother Brit, Yes I read the relevant Nevada State law in that fashion. See Section 78.378 of Nevada Corporate Law:
http://www.leg.state.nv.us/NRS/NRS-078.html#NRS078Sec378
It also establishes a price to be paid for the remaining outstanding shares. If GBDX managment is wise (and I believe they are), then they will vacuum up as many shares as is possible in the open market before that date in order to reduce the total eventual payout, and the remaining outstanding shareholders will ride the back of whatever deal the GBDX management garnered for their common shares ("Fair value" as defined in section 78.3786 ....
dustybutler1, IMO GBDX is a good buy under .003/share. Also the Nevada 60-day limit to take out the minority shareholders is ticking along...
drugtester, I put in an order for 350,000 shares at .0028, on the ask....
Here is why I hold GBDX. This is a statement contained in the January 31, 2007 news release:
"Global Diamond Exchange is looking at other possible ways to increase shareholder value as the market cap of the company is significantly lower in comparison to current sales revenues. The company is aware that upon full financial disclosure the market may more accurately reflect the real economic condition of Global Diamond Exchange".
Is there a lot of information available on the company? No. With the above statement from management, is GBDX worth a risk? Yes.
Also I believe that the company meant what it said in its last news release in referencing a "merger/acquisition". My hunch is that the company will offer the shareholders both options....DerFuh
zahnj, It looks like my order filled at .0037. By the way do you know thtat your last name or Nachname in German means "tooth"? DerFuh
I tried an order for about 15 minutes @ .0036, obtained no shares, just "gave up", and bumped my offer price on 250,000k to .0037 in order to beat the group...DerFuh
Taki, You whipped me as I got nervous with no fill for a goodly time, moved my price up to .0036, and then filled at .0036 the 500k.....
I just placed an order for 500K at .0035. Let's see if any shares come my way. Usually GBDX only bounces downward once in a day so I may be a bit late.... DerFuh
Mr. Tubman, I will be interested to see if this short figure is anywhere near correct and also wonder if the shorts offset outstanding stock warrants held by the managegment.
To the extent it represents a true naked short, I would think that the company would not appreciate such "shenanigans" as our brave compatriots and friends on Ireland would say...
Meanwhile let's prepare a big yummy victory parade, because I love a parade....
General IT, I was on the ask for some shares. I was a click too high in setting my price, but filled, although anything under the long-term price range of .004 for most of 2007 looks good to me as an entry point...DerFuh
cashacumming, Not a bad day really. We went up ten clicks on 76mm shares yesterday, and then the next day sold off/gave back only 4 of those ten clicks on only 1/3d of the volume to the downside.
So traders riding the short-term spike to the upside and then jumping off in order to surf the next wave....DerFuh
Let's see what happens tomorrow in terms of volume. I am beginning to believe that the short interest is for real. Sustained volume for the last three days is too much for just flippers. Maybe we will have a short squeeze....
Now let's salute one of the toughest armies in the world- the Russian Army:
joshl, There's not a lot of information available here so most of it is based upon the stock's technical performance on the tape.
Back a couple of months ago strong buying, possibly institutional, took GBDX to just over .02/share. Then buying tapered off. That suggests any tender for the remaining shares would be somewhat just north of .02/share. (I guessed at .025/share in the contest).
Now discount that a bit since pinkies are high risk- and there you have your value range. And young man, when the Fuehrer commands, you follow! :
TGTL, Darn, I thought that the large short position was a just a short sale used as a set off in order to hedge the price of stock warrants that officers of the corporation were holding, but maybe they really are live naked shorts....yikes.
pn'p, I added about 300,000 shares @ .0031/share- took a bit of time.....Meanwhile let's wake up to a little Ian Drury and the Blockheads:
negger, Depending upon the structure of any preferred (and preferred shares come in all sorts of shapes and sizes), they could be bought straight out by the acquiror and just retired....
Gosh- is this a blowout bottom or what?
skyhawk, I moved from .0025 to .0026 and still have not filled....big order ahead of me??
netwire, Maybe, maybe not, but Nevada state corporate law will keep the transaction honest as will the SEC....
bizzyboy, GBDX is a domestically registered corporation domiciled in the State of Nevada. Sib Almaz, I don't know, but I suspect they are not a U.S.-incorporated entity. Let me run a check of SEC and usual state corporate records....
righty, The surviving corporation will not be domestic so that law would not apply. However you raise a good point. They may offer you "either/or" that is cash, or shares in the surviving corporation in Russia. Have to calculate which is the better deal to take....
Lindy, Which makes me think that GBDX will post the share price within the next ten days so that they can go through the ten-day dissenting shareholder procedural requirement at the same time and zap two birds with one stone....
Lindy, Plus a non-controlling shareholder has the right to dissent under Nevada State law for a certain period of time after majority control is obtained and then receive "fair value" for its shares....
Lindy, It looks like (subject to terms in the by laws or articles of incorporation), That they have 30 to 60 days to finish the deal under Nevada law now that controlling interest has been obtained....
NRS 78.3792 Redemption of control shares.
1. If so provided in the articles of incorporation or the bylaws of the issuing corporation in effect on the 10th day following the acquisition of a controlling interest by an acquiring person, the issuing corporation may call for redemption of not less than all the control shares at the average price paid for the control shares, if:
(a) An offeror’s statement is not delivered with respect to the acquisition as provided in NRS 78.3789 on or before the 10th day after the acquisition of the control shares; or
(b) An offeror’s statement is delivered, but the control shares are not accorded full voting rights by the stockholders.
2. The issuing corporation shall call for redemption within 30 days after the occurrence of the event prescribed in paragraph (a) or (b) of subsection 1, and the shares must be redeemed within 60 days after the call.
(Added to NRS by 1987, 758; A 1989, 877)
NRS 78.3793 Rights of dissenting stockholders. Unless otherwise provided in the articles of incorporation or the bylaws of the issuing corporation in effect on the 10th day following the acquisition of a controlling interest by an acquiring person, if the control shares are accorded full voting rights pursuant to NRS 78.378 to 78.3793, inclusive, and the acquiring person has acquired control shares with a majority or more of all the voting power, any stockholder, as that term is defined in NRS 92A.325, other than the acquiring person, whose shares are not voted in favor of authorizing voting rights for the control shares may dissent in accordance with the provisions of NRS 92A.300 to 92A.500, inclusive, and obtain payment of the fair value of his shares.
(Added to NRS by 1987, 758; A 1989, 877; 1993, 966; 2001, 1373, 3199)