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As far as i am concern let them put those 28.5m out there and be done. Won't take long to absorb them into long hands.
Soapy:
OT: But for once I feel in some ways I beat Cornell\Yorkville last night since the UCONN girls beat Rutgers which happens to be 3 out of 4 of Cornell's top managements Alma Mater.
So if any of you 3 Rutgers Alumni happen to read this "Better Luck next Year" Rightttt.....
Viva
you really in Vegas? nIf so I have an idea for you.
Edit to my orig message as time ran out and thanks to RPT for pointing out my error in the numbers.
On the 24th of jan TS announced there was less then 100K of the old 001 legacy debt, on that day the TA said the OS was 911,391,917 as of today it is 1,019,710,917 an increase of 108,319,000. I firmly believe that 10,000,000 reflected in todays increase represents the amount paid to CEOCAST leaving the remaining 11,769,000 to be from the oo1 legacy debt which puts the increase since TS's letter for the old 001 legacy debt as being 98,319,000. That being the case TS told the truth in his jan 24th SH letter.
Hopefully now TS will be able to pay off the remaining 150K from the 015 debt with cash leaving just the most recent CD's which have cash pay-offs in their clause.
It seems we longs really need another sincere long\longs to step up and purchase 100m which from what I see would eliminate the flippers float and lock up any shares.
On a side note Soapy "the group" intends on buying more on Thurs when funds are made available for April.
wasn't it 100K of the old 001 legacy debt in Jan in his SH letter
RPT your right sorry
We work together and discuss our buying opts, All don't always agree but we pass on any DD and leave it up to the ind if they want to buy or not.
Yes we all rode ACMG to the lower depts it is at currently but all in all we have helped each other out more then hurt. WITS was another bad choice.
One thing we don't do is pump or bash on the boards.
On the 24th of jan TS announced there was less then 100K of the old 001 legacy debt, on that day the TA said the OS was 911,391,917 as of today it is 1,019,710,917 an increase of 21,769,000. I firmly believe that 10,000,000 reflected in todays increase represents the amount paid to CEOCAST leaving the remaining 11,769,000 to be from the oo1 legacy debt. That being the case TS told the truth in his jan 24th SH letter.
Hopefully now TS will be able to pay off the remaining 150K from the 015 debt with cash leaving just the most recent CD's which have cash pay-offs in their clause.
It seems we longs really need another sincere long\longs to step up and purchase 100m which from what I see would eliminate the flippers float and lock up any shares.
On a side note Soapy "the group" intends on buying more on Thurs when funds are made available for April.
According to the TA (Amy)
OS 1,019,710,917
Float 994,664,033
Hey Red
Can TS pay this off in cash if he so desires?
In addition, the Company assumed other indebtedness of $1,117,719, of which approximately $150,000 remains outstanding. The remaining debenture accrues interest at 10% per annum and is convertible at the lesser of $0.015 or 85% of the lowest closing bid price of the Company's common stock during the 10 trading days immediately preceding the conversion date.
Regarding the current OS and float.
I really expect to see some minor increase today when someone calls the TA otherwise that T-Trade on 3/25 for 3m will be over 4 business days old without getting to the TA if it really was dilution.
There are still 3 more T's on 3/26 totaling 9m and 1 T on 3/27 for 2m I believe.
These T's total 14m and could represent the end of the legacy debt as well as the 10m paid to ceocast in shares.
If I am wrong feel free to point it out but wouldn't the TA have to be notified within 4 business days of any increase in OS?
Hey Soap I don't have PM but thought Redsock would love this article
http://60minutes.yahoo.com/segment/153/baseball_by_bill_james
Check the Home Depot down the street from me this weekend in CT didn't see any on the floor or in the stockroom, a friend of mine who works there is on the lookout for the 1st shipment if and when it arrives and will page me to alert me.
Hey Red:
Is it possible the T trades from last week (which may be reflected by the TA today) could be two-fold? One being the remainder of the legacy debt and 10M of those shares being the CeoCast payment?
Red
In your honest opinion what would you feel will be the best order of release of the many PR's we expect?
Legacy debt completed
merger signed
10Q
new LOI's
etc
I believe TS will release all over the next several days just curious which order seems to be the best.
LB what happen? Both u and Viva in jail getting kind of thin on the SWVC board.
if not then the most I see is a possible 499,999 left. That would keep TS's statement concerning less then 100K of legacy debt as being true.
My sentiments exactly
Boy it really sucks not being a paid member hopefully when this runs I will be able to afford a sub,
anyway after searching back I found ref within posts that say we had a 3m T on 3/25, 3 3m trades on 3/26 and one 2M t tonight. Since I would assume that the TA would be at the most 4 days behind in their numbers and subtracting any increases from after the 1/24 share holder letter from Tom seems we increased 85.5 M plus the last 3 days 14M which hasn't probably hit the TA yet we should either be done with the less then 100K old legacy debt or have at the most another 499,999 shares to go. If I am wrong feel free to correct my assumptions
Does anyone have a list of the T Trade amounts and dates since March 6th till tonight
Thanks Red
Red hope you are correct.
Correct me if I am wrong on the following
On Jan 24th TS in a SH letter announced that there was less then 100K of the legacy debt to eliminate which = at the most 99,999,999 additional shares in order to be a correct statement by him. On that date the OS was 911,391,917. Since then the OS has increased to 997,941,917 an increase of 86,550,000 which means the most it could increase is 13,449,999 otherwise TS's statement would be false. Granted the TA could be 4 days behind I believe, so we may or may not see a slight increase in the next several days.
Have I missed anything else that may have added to the OS outside of the legacy debt conversions since the 24th of Jan 2008?
posted it, it was the same
Soap you know I am long but dang what a beating I am taking.
Just spoke with Amy or Amie
AU 2.5B
OS same no change
Float same no change
Do you know for a fact they are shorting?
Fidelity showing no trades so far first 6 min
Chunky
Haven't had time to follow all the posts today how many shares total dumped that look to be legacy
correct hopefully by Mon TA will have the update, or even better yet hopefully they release news after hours today for the climb on Mon
One more Soapy and I apologize for the OT
Hymn #365
This is a hoot, but I suspect the minister didn't appreciate it.
A minister was completing a temperance sermon. With great emphasis he said, 'If I had all the beer in the world, I'd take it and pour it into the river.'
With even greater emphasis he said, 'And if I had
All the wine in the world, I'd take it and pour it into the river.'
And then finally, shaking his fist in the air, he
Said, 'And if I had all the whiskey in the world,
I'd take it and pour it into the river.'
Sermon complete, he sat down.
The song leader stood very cautiously and announced
With a smile, nearly laughing, 'For our closing song,
Let us sing Hymn #365, 'Shall We Gather at the River.'
Smile, life is too short not to !!
See you at the river.
A grandfather, always made a special effort with his grandchildren. Many Sunday mornings he would take his
7-year old granddaughter out for a drive in the car for some bonding time.
One particular Sunday however, he had a bad cold and he really didn't feel like being up at all. Luckily, grandma came to the rescue and said that she would take the grandchild out. When they returned, the little girl anxiously ran upstairs to see Pop Pop.
'Well,' the grandfather asked, 'did you enjoy your ride with Nana? '
'Oh yes, Pop Pop' the girl replied, 'and do you know what? We didn't see a single dumb bastard or lousy shit head!'
Brings a tear to your eye doesn't it?
Rabbit and the BlondeA man is driving along a highway and sees a rabbit jump outacross the middle of the road. He swerves to avoid hitting it,but unfortunately, the rabbit jumps right in front of the car.The driver, a sensitive man as well as an animal lover,pulls over and gets out to see what has become of the rabbit.Much to his dismay, the rabbit is dead. The driver feels so awful that he begins to cry. A beautiful blonde woman driving down the highwaysees a man crying on the side of the road and pulls over.She steps out of the car and asks the man what's wrong. "I feel terrible," he explains, "I accidentally hit this rabbitand killed it." The blonde says, "Don't worry." She runs to her carand pulls out a spray can. She walks over to the limp, dead rabbit,bends down, and sprays the contents onto the rabbit.The rabbit jumps up, waves its paw at the two of themand hops off down the road.
Ten feet away the rabbit stops,turns around and waves again, he hops down the road another 10 feet,turns and waves, hops another ten feet, turns and waves,and repeats this again and again and again, until he hops out of sight.The man is astonished. He runs over to the woman and demands, "What is in that can? What did you spray on that rabbit?"The woman turns the can around so that the man can read the label. It says.(Are you ready for this?)(Are you sure?)(You can still delete it)(You know you're gonna be sorry)(Last chance)(OK, here it is) It says, "Hair Spray - Restores life to dead hair, and adds permanent wave."
RPT
Per TA OS and float unchanged
997,941,917
972,895,033
What's to say that Wells after sitting down with TS and YA haven't decided to buy up cheap shares also. Keep in mind they have quite a bit more info then us concidering their discussions regarding the authorization of the LOC.
better yet who is selling at these levels and when did they buy the shares
I don't feelso bad
British billionaire Joseph Lewis made his fortune gambling on currencies. His recent investment in Bear Stearns Cos. has turned out to be a disastrous bet.
The elusive septuagenarian is one the biggest losers from the New York investment bank's problems. In just a few months, he has paper losses of about $800 million on his roughly 9.6% stake in Bear, whose share price has cratered in recent days.
A small cadre of investors, often considered some of the best in the business, own big stakes in Bear that aren't looking good. A number of these shareholders are the type of investors who ordinarily would take a hard line in a sale, demanding a higher price. But with Bear on the brink, they may have little choice.
Among the stakeholders: James Barrow, a Dallas money manager who runs the firm Barrow, Hanley, Mewhinney & Strauss Inc., is the single biggest investor, with a 9.95% stake, according to recent regulatory filings. Bear Stearns Chairman James Cayne, who stepped down as chief executive in January amid criticisms by some investors that he was too hands-off when the mortgage mess unfolded, holds a stake just under 5%. So does activist investor Bruce Sherman, the CEO of Naples, Fla., money-manager Private Capital Management Inc., a unit of Legg Mason Inc., recent regulatory filings show.
• Deal Journal: A Short History of Troubled Investment Bank SalesMr. Sherman, who persuaded the media company Knight Ridder Inc. to put itself up for sale in 2005, has taken a more active stance with Bear in recent months, say people familiar with the matter. He closely questioned Bear lead director Vincent Tese about the investment bank's problems last summer and made his dissatisfaction with Mr. Cayne clear to Bear officials in the weeks preceding Mr. Cayne's early-January resignation as CEO, these people said. Mr. Sherman's firm held 5.5 million Bear shares as of Dec. 31, 2007, or a 4.8% stake. Those 5.5 million shares at Friday's close were valued roughly at about $166.5 million, down 80% from a year ago.
Mr. Sherman was unavailable to comment, a spokesman said yesterday. Mr. Lewis was unavailable to comment, a spokesman said. An assistant in Mr. Cayne's Bear office said he was in a meeting and unavailable for comment. Mr. Barrow didn't respond to a request for comment.
Mr. Lewis made his fortune as a currency trader, once amassing a 30% stake in auctioneer Christie's International PLC, and has spent the past decade investing in an array of businesses, including real estate, oil and gas, and sports. He now lives in the tony Lyford Cay development in the Bahamas. He got involved with Bear first as a client and became a major investor last year.
Mr. Lewis long has been a client of Kurt Butenhoff, one of Bear Stearns's heavy hitters in private-client services. Mr. Butenhoff brought the relationship with him to Bear from Salomon Bros., where Mr. Butenhoff was a high-net-worth broker in the early 1990s.
Mr. Lewis began rapidly building his stake in Bear Stearns last summer, shortly after the bank announced that two internal hedge funds had imploded. In December, his stake rose to just under 10% from about 7% when Bear's stock price fell below $110, forcing him to make good on an options trade he had made with another party.
Mr. Lewis could have sold his obligation to buy and washed his hands of an unlucky trade. Instead, he chose to exercise his options, filings show, acquiring hundreds of thousands of new shares. He owns more than 11 million Bear Stearns shares, according to a December regulatory filing.
Friday, Bear's shares fell 47% to a nine-year low of $30 in New York Stock Exchange composite trading after the Federal Reserve and J.P. Morgan Chase & Co. stepped in to keep the firm afloat following a severe cash crunch. It doesn't appear from reviews of regulatory filings that Messrs. Sherman, Cayne, Barrow and Lewis have sold shares in recent weeks.
The son of a cafe owner in London's East End, Mr. Lewis started work there and later expanded the family business to create a small empire of theme restaurants. He acquired the nickname "the boxer" in part because his name is similar to boxing legend Joe Louis and also because of his shrewd approach to business.
Mr. Lewis's recent endeavors have included developments in central Florida, where he owns Isleworth and another gated community. About six years ago, Mr. Lewis purchased a stake in Tottenham Hotspur PLC, a soccer club based in northeast London. A keen golfer, Mr. Lewis hosts the Tavistock Cup tournament and has befriended golf star Tiger Woods.
--Alista
Wouldn't it be great news to hear the legacy debt was finished and that TS had shorted BSC using SWV money.
Hopefully he will follow this with a 10:25am announcement of the legacy debt finished
best thing the US government could do would be discontinue the $100.00 and $50.00 bill and notify all that after a certain date it would be no longer accepted as legal tender. This would cause all the terror groups and drug dealers to have to either cash in their large stashes for $20.00 or loose out.
Dr G
It doesn't bother u that TS has let the SP dive to these prices? Don't u feel he owes some explanation as to his motives involving Cornhole after the legacey debt deal they prospered so much on.