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.
True...personally, I would have been fine with it if the price dropped some more, allowing me to get more shares/dollar... Still not sure what is happening regarding the trading today...maybe shorts covering, maybe a group hoping to entice a run...maybe shares are tight and people just don't want to sell....
It is true that convertible notes often result in an initial decrease in price. This can occur due to shorting by the fund, so that the fund can make money on the difference. Then, when the price is low, the fund can also pick up cheap shares to sell off when the stock price recovers and goes higher on expectations. Then, a massive sell-off occurs and the stock tanks. Check out the I-Box on this board:
Cornell/Yorkville
However, this is NOT THE CASE with Michelex. There will be no dilution of Michelex as the note has nothing to do with Michelex shares. The conversation is related to shares of Pristine Pharma Corp. and any conversation will not exceed 20 percent of Pristine's shares. As regards to the note, Pristine will continue as a subsidiary of Michelex.
Personally, as an investor in Michelex, I approve of the manner in which financing was obtained, as the note will not dilute MLXO via conversion into tradable shares of Michelex stock.
I can't remember the specifics on when prior years' financial information is supposed to be delivered, was it this week or next? In either case, unless someone has specifically been informed that that the information will be immediately released, my guess is that they will want to review it (e.g., have their accountants review the information) before making any public release. If that is the case, it might take awhile. How long? Not sure, though I would think it would not take longer than a few weeks if it was a high priority and no problems were discovered.
That would be my guess. Any mgt. team that does not ensure that they have voting control puts themselves, and their investments, at risk.
I imagine that Mr. Saleem and his group have taken the necessary precautions (e.g., issuing preferred shares which have a multiplier in terms of voting stock).
Here is a recent example:
EXTO
Exit Only, Inc. Retires 1.2 Billion Shares of Common Stock in Preparation for Acquisition; Outstanding Shares Reduced by Nearly 70%, Positions the Company for Strong Growth
9:45a ET March 28, 2011 (Market Wire)
Exit Only, Inc. (PINKSHEETS: EXTO) today announced that its President Diana Shats retired 1.2 billion shares of common stock that she owned in the Company in order to increase shareholder value and to facilitate acquisitions that management has been negotiating. Diana Shats commented, "My goal since my management team assumed the helm at the Company is driven by a unified mandate to increase shareholder value. Toward that end, we have started a new subsidiary entitled Shats Lighting Solutions to house the technology and patents recently acquired. Furthermore, we recognized that the capital structure needed to be refined to accommodate the Company's progressive acquisition strategy in a manner that did not involve any kind of reverse stock split. Accordingly, I decided to retire 1.2 billion shares of my personal stock for the benefit of shareholders."
The retirement of the shares was reflected on the books and records of the Company as of March 24, 2011. No other warrants, rights, options or convertible instruments were issued in connection with the retirement of shares. The only other corporate change was the implementation of an anti-takeover strategy which increased the voting power of the Series A Preferred Shares to 1000 times voting power. The shares still convert on a 1:1 basis to common which would only create an addition 2 million shares of common stock, when and if converted. The increased voting power maintains management's control over the Company despite being reduced in actual ownership. The board accepted the retirement of shares in order to position the Company for a number of acquisitions that can strengthen the Company and shareholder value. The Company presently has just under 541 million shares of common stock outstanding, with 479 million shares in the float.
Thanks...
How do you copy the image? I have the ADVN levell 2 also.
Yes, small purchases... $72
When the .0059 trade occurred, I thought it was a fat finger (.0049) until I realized the ask had gone up.
Nite .005 x .0059 ETMM and NITE
Obviously, someone is trying to keep the price up by making small purchases (around $25/trade). I don't know how to copy L2
ask up to .0059 bid at .005
mainly small volume trades
Did a quick read of the filing, isn't the conversion price for the warrant 0.02, thus the subscriber would have to pay 2 cents for each share of common stock purchased via conversion of a warrant?
As an aside, this stock seems to trade in very, very low volume. If it did get squeezed, would there be enough volume to allow one to get out? Not sure that there would be, unless you were selling a few 100K's shares max.
I was not following then...I went back over the volume this morning after seeing an alert, and it did not look like there were many high volume days, thus it might be hard to get out if needed. Went back and took another look, I can't tell how much went at bid and ask on those days, but I don't dispute your claim, looks like you could have sold .0001's. Thanks for sharing. However, it looks like .0001 was the price at which to pick up shares. Hope you grabbed a lot of them...
2 Questions:
1) If no dilution, how do you make much money playing this? If you got in at .0001, $500 would equal 5M shares. The volume is typically so low, how could you sell it even for a double?
2) If dilution occurs (per 3/2/10 sticky note), how does the price move much at all?
Not bashing, just asking...
TIA
Ameritrade and Zecco were not showing B/A this morning, though I assume one could still purchase; still not showing b/a...hmm, down today 0.0039 would have thought it went up some...heavy volume too
From Barcharts.com let's see if 0.0061 holds
2nd Resistance Point 0.0066
1st Resistance Point 0.0065
Last Price 0.0063
1st Support Level 0.0061
2nd Support Level 0.0058
Shareholders would be much better off if MLXO worked its way up the OTCPink categories before trying to get listed on an exchange. The NYSE recently completed its acquisition of AMEX, and I believe that stocks trying to get listed will now have to meet the NYSE standards. Having to deal w/ Sarb-Ox is not inexpensive. Much better for them to focus on growing their business and becoming more transparent, which would include becoming current, and staying current, on filing requirments. Then, when it's time to make a move to another exchange (if they deem it necessary), they should look at non-US listing options as well as listing in the US. However, NO RS unless it is required to get them off of the pinks, and that should take a year or two.
IMHO, the action was due to a group that was organized to initiate a momentum play. Regarding a forthcoming PR, who would be putting out a PR? I don't believe the judge or any of the attorneys in the BK case are going to be putting out PR's. Same thing with a filing, unless you are talking about some additional filing in the BK case or a filing in NV court to gain custodianship of PBLS. Mina M*r already gave that a try and backed off. That doesn't mean that another entity would not try, but my guess is that any request would be denied unless it had the blessing of the judge and attorneys involved in the BK case. JMHO...
In order for this to run there either has to be a rumor that sparks interest or a concerted effort by a group of investors to put it on the radar by amping up the volume. That is what just happened, a group of investors got together and pumped up the volume, which set off volume and price alerts, which set off the momo-run. I would think that if another group, or even the same group, was going to do that again, they'd wait for the volume and price to drop. JMHO, and yes, I'd love to see PBLS run (actually, it would be great if it had numerous momo-runs from .0001)...
Level 2 does not show any bid or ask for CCCXF...is that normal?
PBLSQ volume picking up.... dumping...or accumulation for the next run???
PBLSQ volume picking up.... dumping...or accumulation for the next run???
Hmmm, doesn't look like dumping right now...if it was, it would hit .0001.... maybe accumulation for another run...
Again, my guess is that you are correct, but hope you are wrong..
PBLSQ at a great entry point if you believe Q-Crew will run this up...
PBLSQ at a great entry point if you believe Q-Crew will run this up...
Fear you are right, but hope you are wrong....
Who the heck is selling at .0002? Must be people who recently bought at .0001 or MM/Shorters' shenanigans..
Yes, but... there's also a darn but...if large groups think this will run, they may try to short it and take it down... if it comes to that, only way to stop that is to not have weak knees.
jgervasi is absolutely correct...stop the freakin' bid-whacking!!!
PS...Yes, I know it's hard to do that in .000-land, but that's the only way to get this up to a price where you can take some real profits!
If a group with money really wants to get in on the Q-action w/ PBLS, they would be wise to let it hit .0001 again... which is not good news for the new group of bag-holders who got in at the end of this latest run...
If PBLS get's out of BK as a clean shell, it probably would run over a penny w/ a decent RM candidate...
It's possible that a deal could be made in the BK case to get this wrapped up, but I believe the next hearing is scheduled for June.
It could be quite a long time. I could be wrong, but I doubt doubt that PBLS makes an attractive shell candidate until the BK is settled, and thus all of the debt is cleared off the books. Well, actually not books, but scraps of papers and receipts that constituted PBLS' 'books'.
Hope I'm wrong....
GLTA
I expected a little bit of a rally...where's the Q-Crew?? Did they go and dump all their $ into BBQ instead of PBLS-Q ;)
Hmmm, not looking too good right about now...
Xylan,
Gee, I guess I missed what was on the old banner, can you put it back up for a minute???
JK....
PS..Really, what was on the banner, I hadn't looked at the box in a awhile...
True, in that you need to make sure you are playing with house money... of course, that means you need to get in early...
Or the original pump-meisters might have sold off their remaining .0001s and .0002s while they could...
Can't figure out why someone would be buying at the .0006 ask...
Big gap at .0003 bid (5) and .0006 ask (3)
Time will tell....though I think we all agree that this is just momo, and has nothing to do with 'news'...
Hope you are right about this running, though...
GLTA
Looks like the death of another momo-pump....
3 at .0006 x .0008 (3)