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Blocked me from sendin pms? Ouch :(
thank you for taking the time to reply and bringing up a parellel to compare.
but what i'm trying to tell you is that they clearly terminated discussions, they couldnt find a interest
"there is no assurance that the Company will be able to identify additional financing or any other strategic alternative that will enable the Company to continue its operations. " you leave out the beginning of the sentence which is, "The Company is considering its remaining strategic alternatives."
"and then in the next sentence quote the PR ,"All parties who previously had expressed interest in exploring a potential transaction with the Company have terminated discussions".
There was a very interested party engaged in talks to purchase EEE but when they backed out it crushed the stock and subsequently forced their delisting. This is why they had a buyout agent representing them in negotiations."
we never got any of that. no where does it say a failed buyout, and no where does it say were considering alternatives.. weird stuff but thank you for bringing it up!
if you want to contniue taalking about this pm me ! :)
Ya but the point is in a failed pr they said termination of discussions. Meanin they're done talking about it, period.
In our PR They said we terminated NEEGGOTIATIONS! Which is the second last step, next is acquiring financing then terminating the deal.
GUYS JUST LOOK AT THIS POST. If buyout talks were done they would've said they terminated discussions and they were done talking about it, but we only finished negotiating!
Still waiting for a reply sir.
youre absolutely right mr fish
WELL IF YOU REALLY WANT TO COMPARRREEE...
They announced these talks were terminated unsuccessfully. As a parallel I would like to present you with EEE which was a big board stock that got reduced to OTC and subsequently (1 month after delisting ) released the following statement:
Evergreen Energy Inc. Provides Update on Sale Process and Status
Date : 12/16/2011 @ 3:15AM
Source : Business Wire
Stock : Evergreen Energy Inc. (EVEI)
Quote : 0.14 -0.01 (-6.67%) @ 4:02PM
Evergreen Energy Inc. Provides Update on Sale Process and Status
Evergreen Energy (OTCBB:EVEI)
Today : Friday 16 December 2011
Evergreen Energy Inc. (OTCBB:EVEI), today announced that the process undertaken with its financial advisor, Dahlman Rose & Company, LLC, for the sale of its K-Fuel Business or any other strategic alternatives has not resulted in the identification of any interested parties. All parties who previously had expressed interest in exploring a potential transaction with the Company have terminated discussions. The Company is considering its remaining strategic alternatives, however, there is no assurance that the Company will be able to identify additional financing or any other strategic alternative that will enable the Company to continue its operations.
To conserve its remaining limited resources, on December 15, 2011 the Company reduced its employee staff from 25 to 5, including termination of the majority of its executive officers.
Evergreen Energy Inc.
They then proceeded to go BK a few weeks later. I am NOT saying that ATRN will do the same, I am only pointing out that there is no buyout guarantee WHATSOEVER contained in Friday's press release. None of us know what will happen here, but to act as if the ATRN PR states there is an imminent buyout/merger is misleading.
So much upside from here until September it's stupid ..
They already announced that they are in talks of a buyout, that was what the pr was. When the buyout actually happens it will be too late!
imbassil
Gracias
my name is actually Bassil in case anyone was wondering :)
LOL its all starting to make sense now, maybe right after their numbers improves so dramitcally in q3 they were a perfect target for an acquirer. No wonder why they didn't show us anything else after posting numbers like that!
STICK THIS! this announcement is what we've been waiting for!
cause it hasnt happened yet.. The deal hasn't closed. The CEO said it would answer some our questions and it did. We're in a buyout, when we get bought out it'll say just that.
SOMEONE PLEASE STICKY THIS
ATRINSIC ANNOUNCES BEING IN A BUYOUT IN LATEST PR
New York, NY (PRWEB) May 18, 2012
Atrinsic, Inc. (PINK: ATRN) announced today that it has decided to wind down support for its agency business following the termination of negotiations with a potential acquirer for the business. The company, in consultation with its strategic advisors, is continuing its efforts to maximize the value of its remaining assets for all of its stakeholders."
They are done figuring out who gets what and theyve decied that they no longer need their agency business. Without the agency business, they will continue to get the best price for what's left of the company. (the entire affiliate marketing part) (... which is the one bringing in the money) (.. which is the one they're keeping )
now..
they said they terminated neogtiations for a buyout.. well.. that's the second last step in the process.. read more..
READ NUMBER 6
what are the stages in a buyout ?
http://www.canadianworker.coop/resources/guides/steps-worker-buyout-company
(1) Educate the supporters of the buyout.
Supporters may include all of the hourly and salaried employees as well as local management. Frequently, in situations involving an organized workforce, those employees protected by a union contract are the initial proponents.
(2) Establish a buyout association.
Membership in the buyout association is usually open to all the potential future employee-owners. A leadership team is usually selected to put the buyout together on behalf of the buyout association. Through its leadership, the buyout association:
a) Raises funds from members and solicits matching funds from government and other potential contributors; b) Contracts with and oversees the work of legal and financial consultants, and c) Develops a management team.
(3) Do a pre-feasibility assessment.
This assessment is a quick study by the development consultants of the key factors needed for the buyout to succeed.
(4) Conduct a feasibility study.
A professionally done feasibility study provides an in-depth analysis of the economic viability of the plant as an employee-owned co-operative.
If the feasibility study shows that there is no feasible way for an employee-owned succeed, then the buyout association should cease pursuing the buyout.
If there are any feasible ways for an employee-owned co-operative to succeed, they should be identified in the feasibility study. The buyout association should select the most acceptable alternative. At this point the buyout association has most of the information it needs to complete the following steps.
(5) Develop a Business Plan.
If the buyout association proceeds beyond the feasibility study, it is because the study has explained how an employee-owned co-operative can succeed. This explanation with a little packaging thrown in is the business plan which the buyout association will take to potential lenders and investors. The business plan explains how the new co-operative will generate the money to replay the bank and reward the investors.
(6) Negotiate the purchase and create the structure for the new employee-owned co-operative.
The feasibility study should provide the buyout association with a reasonable estimate of the company's value as well as how much debt the new co-op will be able to support.
The buyout association incorporates the worker co-operative with input from all employees, and develops a governance structure for the employee-owned co-operative which will encourage all of the employee owners to contribute constructively to their co-operative's future success.
(7) Arrange financing.
A feasibility study should identify the capital expenditures and working capital needs of the co-operative and these should be taken into account when arranging financing in a addition to the agreed upon purchase price. The financing may include equity or subordinate debt, senior debt, and working capital financing. Generally this requires professional assistance by your lawyer, business analyst or outside financial consultant.
(9) Close the deal with the seller.
all that's left now is to get the money and close the deal.
regarding Aaron Baker.. Chade had found out he no longer works for the copany through linkedin, and they guy still hasn't updated his work to a new company. So either one of two things happened, if he wouldve found a job already with a totall different company i thnik it wouldve happened already and we wouldve known about it through his linkedin like what happened with out last CEO STuart Goldfarb, but nothing has been updated and he is still unemployed.. a guy like Aaron Baker doesn't stay uneployed for too long so one of two things happened..
either 1) he got completely screwed of by the copmpany and the long standing vice president is completely out of a job
or 2) he's already with the new company that is acquiring atrinsic that has yet to be announced.
..
OH AND ONE MORE THING.
in every single one of atrinsics preess releases they have included a safe harbor statement at the bottomm, in this one they didn't.. don't you wonder why?
well check this out..
the only reason to not put a safe harbor at the bottom iss..
I found the actual sec law for exceptions instead of just an article.
Exclusions
Except to the extent otherwise specifically provided by rule, regulation, or order of the Commission, this section shall not apply to a forward-looking statement--
that is made with respect to the business or operations of the issuer, if the issuer--
during the 3-year period preceding the date on which the statement was first made--
was convicted of any felony or misdemeanor described in clauses (i) through (iv) of section 15 (b)(4)(B) of the Securities Exchange Act of 1934; or
has been made the subject of a judicial or administrative decree or order arising out of a governmental action that--
prohibits future violations of the antifraud provisions of the securities laws;
requires that the issuer cease and desist from violating the antifraud provisions of the securities laws; or
determines that the issuer violated the antifraud provisions of the securities laws;
makes the forward-looking statement in connection with an offering of securities by a blank check company;
issues penny stock;
makes the forward-looking statement in connection with a rollup transaction; or
makes the forward-looking statement in connection with a going private transaction;
that is--
included in a financial statement prepared in accordance with generally accepted accounting principles;
contained in a registration statement of, or otherwise issued by, an investment company;
made in connection with a tender offer;
made in connection with an initial public offering;
made in connection with an offering by, or relating to the operations of, a partnership, limited liability company, or a direct participation investment program; or
made in a disclosure of beneficial ownership in a report required to be filed with the Commission pursuant to section 13(d) of the Securities Exchange Act of 1934.
http://taft.law.uc.edu/CCL/33Act/sec27A.html
There are only a couple of reasons to not include a safe harbor statement, will there be a roll up? are we going private? Is it a tender offer? I'll let you decide!
From the university of cincinnati! That's the actual law. A company is exempt from safe harbor only if they ISSSUUUEEE penny stock. That does not mean all penny stocks are exempt from safe harbor! ( there was a bit of confusion about thaT)
NOW ALL WE DO IS SIT DOWN AND WAIT FOR THE DEAL TO CLOSE
THIS IS THE NEWS WE'VE BEEN WAITING FOR..
now I can finally get back to summer school studying and playing basketball.. cheers!
ok I'm going to make a DD post on the PR and someone has to promise to sticky it so all these noobs can realize what's going on.
lmao you guys are hilarious. There is zero volume. You're stock is being manipulated. Peter is at Cannes as we speak.
the PR is real. It's the company telling us were being bought out. They're done negotiations which is the last step in the buyout, and they are now about to close the deal. The safe harbor statement was not included in the PR because it is in connection with a tender offer. Look it up.
buyout has been confirmed, now we wait for them to close the deal.. I can't wait. :)
I think baker would be at a new company already if we weren't in a merger. If he was with a new company he would've updated his link already because I doubt he would stay unemployed for long.. He either got completely screwed over or he's already with the new company that has yet to be announced.
http://library.findlaw.com/2000/Jan/1/130310.html
Good article on merger acquisition filing!!
But look towards the bottom I'm pretty sure that bottom paragraph about excluding safe harbor means you cant include it.