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The deal is probably for an average price over a period of time, especially for a low-trade stock like affw. Not for a price that can be manipulated with $80. Of course assuming its affw in the first place.
I think you've acted a little prematurely and have helped to make the potential for a positive outcome later rather than sooner.
I think you've already "cast judgement" and potentially increased chances of a negative outcome by sending info to the SEC.
So TP could request trading not resume on the 9th if all outside approvals by FINRA/ SEC require more time before allowed to transfer stock between the two companies?
Anything said that would further hurt your chances as a stockholder for a positive outcome?
And what's your history with TP?
I'm on your side, but don't count the weekend days, then you have 10.
What would your exit strategy be?
Don't kid yourself. A shame, since from your picture you seem like a pretty nice guy.
What's the point?
Resumed on the Grey Market, but not yet exonerated, and still pending further investigation which could take several years. Is that the situation with PHOT?
Were the merger to go through before June 6th, I would suspect there would be no trading June 6th on the grey market. Wouldn't it still take an appreciable amount of time to coordinate the transfer/exchange of FTRD shares with the acquiring company?
And how are the then-existing short positions dealt with?
Was it ever mentioned what PHOT was guilty of?
Yes, I thought they originally posted the time as 4:02.
Probably a T trade from earlier in the day. It won't count as closing price in AM since it was after 4pm.
I would expect an adjustment in the acquiring company share price to account for the additional shares being issued. This to keep the market cap in sync with the perceived value of the two companies combined. Hopefully, that share price will be equal or greater than the acquiring company's pre merger share price.
"Once the acquisition is completed Nations plans on doing a current evaluation of the Refinery and Revenue projection."
Shouldn't they be doing the evaluation before completing the acquisition?
News is decent, but we may not get a significant move higher tomorrow since LOI's are often taken with a bit of skepticism these days. I'll be happy if we close above .0250
I assume they'll pay for it with stock?
Since January!
Not sure what you're getting at. Just pointing out that L2 only shows each MM's best, or lowest, ask.
Unless you have L3, "thin" is just a guess. NITE, for example, could have 1 million for sale at .0201, right behind the .0200.
Why use a shell with so many shares? Won't there have to eventually be a reverse split?
Don't think that's him.
What did Naumu have to say?
Yea, don't know if he has any administrative experience. Can't find anything yet; ie linkedin.
This is a PR from last year indicating him as their "field geologist".
http://www.bizjournals.com/prnewswire/press_releases/2013/05/29/TO232
Sorry, April this year
Michael James was a technical consultant for the company last year, and then placed on the board of directors, also last year.
Is there really such a thing as "proper" DD on the pinks? We read of the "wealthy" Michael Naumu, for example. But we see no verifiable evidence of that wealth. Only a filing for bankruptcy in 2012.
We invest with as much certainty as possible, but understand the potential risks. Even if your brother-in-law were the CEO, you may not have the "proper" DD.
Hope you're right. I know you have a lot of pressure on you to be overly optimistic considering yours and your family's large investment.
Yes, eventually they will be right. Like a broken clock is right twice a day! As long as they don't take credit for the prediction.
Look at the January 15th PR too. I think there is probably more fault with company than FINRA.
Symbol change has been in the works since late January! Usually see it in 4 to 6 weeks.
Only 1 employee, the CEO, how do you get past that?
You're not too savvy on reading the L2. No way to know how "thin" the ask is without L3. Each of the 10k placeholders can represent much more than an actual 10k. Plus only each MMs best ask is visible.
Wasn't too happy to see that the company is a 1 man operation.
Did you try buying at the ask?
The large block on bid does not induce as much quick ask buying as you would expect.
FRTD news, appears to be gaping at open.