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.
Dear Bidder @ .004, Raise you damn bid jackweed $MECK
$JCP to Post FY2017 Earnings of $0.15 Per Share, Jefferies Group Forecasts (JCP)
http://dailyquint.com/2017-01-15-j-c-penney-co-to-post-fy2017-earnings-of-0-15-per-share-jefferies-group-forecasts-jcp/
J.C. Penney Co. (NYSE:JCP) – Investment analysts at Jefferies Group reduced their FY2017 earnings estimates for shares of J.C. Penney in a research report issued to clients and investors on Friday. Jefferies Group analyst R. Konik now expects that the brokerage will post earnings of $0.15 per share for the year, down from their prior estimate of $0.23. Jefferies Group currently has a “Hold” rating and a $10.00 target price on the stock. Jefferies Group also issued estimates for J.C. Penney’s Q4 2017 earnings at $0.72 EPS and FY2018 earnings at $0.72 EPS.
J.C. Penney (NYSE:JCP) last released its quarterly earnings data on Friday, November 11th. The department store operator reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.95 billion. J.C. Penney had a negative return on equity of 4.55% and a negative net margin of 2.56%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.45) EPS.
A number of other research firms have also weighed in on JCP. Vetr lowered shares of J.C. Penney from a “buy” rating to a “hold” rating and set a $10.02 price objective on the stock. in a research report on Monday, August 15th. B. Riley reaffirmed a “buy” rating and set a $16.00 target price on shares of J.C. Penney in a research report on Saturday, August 20th. Zacks Investment Research lowered shares of J.C. Penney from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 17th. Robert W. Baird reaffirmed an “outperform” rating and set a $13.00 target price on shares of J.C. Penney in a research report on Sunday, August 21st. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $10.00 target price on shares of J.C. Penney in a research report on Monday, August 15th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $11.44.
J.C. Penney (NYSE:JCP) traded down 3.204% during trading on Monday, reaching $9.215. The company had a trading volume of 7,866,534 shares. J.C. Penney has a 12-month low of $6.00 and a 12-month high of $11.99. The stock has a 50 day moving average of $8.81 and a 200-day moving average of $8.95. The stock’s market capitalization is $2.84 billion.
In related news, Chairman Marvin R. Ellison bought 50,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was acquired at an average price of $9.92 per share, with a total value of $496,000.00. Following the completion of the purchase, the chairman now directly owns 2,557,317 shares of the company’s stock, valued at $25,368,584.64. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.28% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in JCP. Parametrica Management Ltd bought a new stake in J.C. Penney during the second quarter worth approximately $102,000. Princeton Alpha Management LP bought a new stake in J.C. Penney during the third quarter worth approximately $102,000. Invictus RG acquired a new position in J.C. Penney during the first quarter worth $103,000. Advisors Asset Management Inc. raised its position in J.C. Penney by 40.8% in the second quarter. Advisors Asset Management Inc. now owns 11,546 shares of the department store operator’s stock worth $103,000 after buying an additional 3,346 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its position in J.C. Penney by 4.4% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 11,900 shares of the department store operator’s stock worth $110,000 after buying an additional 500 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.
$JCP Projected EPS Of $0.62
http://www.thestockobserver.com/stocks/j-c-penney-company-inc-nysejcp-projected-to-achieve-eps-of-0-62/25382/
All eyes will be on J C Penney Company Inc (NYSE:JCP) when the organization posts quarterly report, which is anticipated to be shown this afternoon. Experts on a consensus basis are supposing the firm to report EPS of $0.62 for the quarter.
In weighing to last quarter, J C Penney Company Inc posted EPS of $-0.21 for the period ended on 2016-10-31. Investors will pay attention to the likely EPS performance to the achieved EPS. If the posted figure largely differs from the given estimate, then instability in the stock price can be recorded.
Last quarter the organization saw a surprise element of 4.55. Before the report release, the standard deviation for EPS evaluations was 0.05. Now studying what research firms interim goal is on the stock, the consensus price target for J C Penney Company Inc (NYSE:JCP) is at $9.807.
There are 13 analysts that participate to acquire the Zacks consensus mark. The bearish price target is $7 and the bullish target is $12. J C Penney Company Inc (NYSE:JCP) has an ABR of 2.5. Investors can always refer to it and then go on to make their calls on investments.
This is presented on a 1-5 measure where 1 would create a strong buy call and 5 would create a strong sell rating. The assessment is based on the average of 13 brokers joined in Zacks poll. A quarter earlier, it was 2.5.
Research analysts assess firms and get on industry, operational and economy trend details to help their clients make superior investment choices. Retail shareholders may consider that most experts’ main accountability is to the investing public. In fact, the complete story is much more convoluted.
Some professionals are unaffiliated: they offer their autonomous research to investing or financial establishments, insurance firms, private shareholders or banks on a payment or project basis. But numerous analysts are hired by firms whose economic stake in their calls may go beyond accuracy.
For the year ended 2016-10-31 J C Penney Company Inc $JCP basic consolidated EPS came $-1.677. Conversely, for the quarter ended 2016-10-31, it was $-1.677.
https://www.equitiesfocus.com/j-c-penney-company-inc-nysejcp-quarterly-basic-net-eps-at-2016-10-31/1216585/
J C Penney Company Inc (NYSE:JCP) Quarterly Basic Net EPS At 2016-10-31
By EF Staff on January 15, 2017 Equities
For the year ended 2016-10-31 J C Penney Company Inc (NYSE:JCP) basic consolidated EPS came $-1.677. Conversely, for the quarter ended 2016-10-31, it was $-1.677.
EPS can be simply called as a fraction of profits that is disbursed against each outstanding share. It is measured using the formula – net profit/outstanding shares. The element ‘Per-share earnings’ is majorly utilized by market experts to give earnings and price projections. Suppose a group “S” announces a net profit of $15,000 in a given year. The count of outstanding shares is 300. So, its EPS will be $50. EPS is issued every quarter, indicating the stakeholders can evaluate the financial performance periodically.
EPS alone cannot indicate on the financial well-being of a firm. For a clear picture, it is vital to look into the price to earnings ratio of company.
EPS from continuing operations
J C Penney Company Inc (NYSE:JCP) EPS from continuing operations was $-1.677 for the fiscal ended 2016-10-31. For the quarter ended 2016-10-31, this figure was $-1.677.
EPS contribution from parent
J C Penney Company Inc (NYSE:JCP) confirmed basic EPS of $-1.677 for the year ended 2016-10-31 from its parent group. Conversely, for the quarter closed 2016-10-31 it was $-1.677.
Basic net EPS
J C Penney Company Inc (NYSE:JCP) basic net EPS was $-0.22 for the year ended 2016-10-31. For the quarter ended 2016-10-31, it came at $-0.22.
Consolidated diluted EPS
J C Penney Company Inc (NYSE:JCP) consolidated diluted EPS was -1.677 for the year ended 2016-10-31. For the quarter ended 2016-10-31, it stood at $-1.677.
Basic diluted EPS
J C Penney Company Inc (NYSE:JCP) basic diluted EPS was $-0.2173 for the quarter ended 2016-10-31. For the year ended 2016-10-31, basic diluted EPS was $-0.2173.
Net diluted EPS
J C Penney Company Inc (NYSE:JCP) posted net diluted EPS of $-1.68 for the fiscal closed 2016-10-31. For the quarter ended 2016-10-31, net diluted EPS was $-1.68.
Diluted EPS from parent
J C Penney Company Inc (NYSE:JCP) diluted EPS from parent group was $-1.677 for the year ended 2016-10-31. For the quarter ended 2016-10-31 it stood at $-1.677.
J C Penney Company Inc (NYSE:JCP) net basic EPS was $-1.68 for the year ended 2016-10-31. For the quarter ended 2016-10-31, it was $-1.68
For the year ended 2016-10-31, basic shares outstanding were 305.9 while for the quarter ended 2016-10-31 is 305.9.
For the fiscal ended 2016-10-31, the diluted outstanding shares were 305.9 and for the quarter ended 2016-10-31 it was 305.9.
1 Chart Pattern Every Investor Should Know
This little-known pattern preceded moves of 578% in ARWR, 562% in LCI, 513% in ICPT, 439% in EGRX, 408% in ADDUS and more...
Ladenburg Thalmann Starts IIPR at Buy
Ladenburg Thalmann initiates coverage on Innovative Industrial Properties (NYSE: IIPR) with a Buy rating and a price target of $24.00.
getting close to interesting again - love the cycle here $ARNA
Nice news and nice after market action $IIPR Kudos to those of us who got on board on the dip
Fed poised for major makeover in Trump era
http://money.cnn.com/2017/01/12/news/economy/federal-reserve-openings/index.html?iid=hp-stack-dom
only if you buy me some shares lol
Has the bottom formed? History would say if not yes, then very close
$JCP
Lunch time rally to a green close - would be great $BAC
there could be something brewing - lot of weird trades like the one you mentioned and lots of those small 100 - 200 share lots we have seen
something is keeping a lid on this - it would be awesome if the CEO did reach out to someone about selling the shell and they are scoping up shares
$MECK
that is an interesting thought $JCP
nice - hoping the bottom is in, or at least the bleeding done
if history repeats itself we should be going up real soon
$JCP
true - perhaps they see the action and are trying to add liquidity
just playin devils advocate
$MECK
OMG i forgot about the accountant - ohhhh the good ole days here something else
Nice set of trades hitting on the ask today
$MECK
It's gonna be an interesting few trading sessions
$BAC
Getting interesting here - ive been watching this one for some time $ARNA
Insiders getting more shares? all these form 4's?
Insiders are buying as many shares under $20 as possible $IIPR
See all the form 4 filed - they are scooping up lots of shares - they know something imo
i think with quiet period ending Monday that some news will start moving this soon
$IIPR
$MECK 6M O/S - CEO says open to selling or possibility of reverse merger if approached
4M O/S $IIPR Quiet Period Ends Monday Jan 9, 2017
Share Information
Authorized Shares
50,000,000 shares of common stock, $0.001 par value per share, including
(i) 49,000,000 shares of Class A common stock
(ii) 1,000,000 shares of Class B common stock [to be cancelled by management]
(iii) up to 50,000,000 shares of preferred stock, $0.001 par value per share
Outstanding shares
4,000,000 shares of Class A common stock ( 4,600,000 shares is underwriters exercise option)
Treasury / IIPR Reserved for future issuance under Incentive Plan
1,000,000 Shares of Class A common
$IIPR Quiet Period Will End on January 10th
https://baseballnewssource.com/markets/innovative-industrial-properties-incs-iipr-quiet-period-will-end-on-january-10th/329432.html
Innovative Industrial Properties’ (NASDAQ:IIPR) quiet period will end on Tuesday, January 10th. Innovative Industrial Properties had issued 3,350,000 shares in its IPO on December 1st. The total size of the offering was $67,000,000 based on an initial share price of $20.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Separately, Compass Point started coverage on Innovative Industrial Properties in a research note on Monday, December 12th. They set a “buy” rating and a $21.00 target price for the company.
Shares of Innovative Industrial Properties (NASDAQ:IIPR) opened at 18.83 on Thursday. The company’s 50-day moving average price is $17.61 and its 200 day moving average price is $17.61. The firm’s market cap is $9.57 million. Innovative Industrial Properties has a 1-year low of $15.45 and a 1-year high of $20.52.
In other news, Director Gary A. Kreitzer bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The shares were purchased at an average cost of $20.00 per share, with a total value of $500,000.00. Following the transaction, the director now directly owns 25,000 shares in the company, valued at $500,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan D. Gold bought 200,600 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $4,012,000.00. Following the completion of the transaction, the insider now owns 300 shares in the company, valued at $6,000. The disclosure for this purchase can be found here.
Innovative Industrial Properties Company Profile
Innovative Industrial Properties, Inc is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases.
i dont openly discuss (sell)limits as i try not to tempt the tree shakers but unless this thing tanks to the teens i will be holding for dividends and $30+
with Trump in office - i will be holding all my positions with a finger on the sell trigger since i have no confidence that a major storm could erupt at any time
$BAC
$IIPR Quiet Period Will End on January 10th
https://baseballnewssource.com/markets/innovative-industrial-properties-incs-iipr-quiet-period-will-end-on-january-10th/329432.html
Innovative Industrial Properties’ (NASDAQ:IIPR) quiet period will end on Tuesday, January 10th. Innovative Industrial Properties had issued 3,350,000 shares in its IPO on December 1st. The total size of the offering was $67,000,000 based on an initial share price of $20.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Separately, Compass Point started coverage on Innovative Industrial Properties in a research note on Monday, December 12th. They set a “buy” rating and a $21.00 target price for the company.
Shares of Innovative Industrial Properties (NASDAQ:IIPR) opened at 18.83 on Thursday. The company’s 50-day moving average price is $17.61 and its 200 day moving average price is $17.61. The firm’s market cap is $9.57 million. Innovative Industrial Properties has a 1-year low of $15.45 and a 1-year high of $20.52.
In other news, Director Gary A. Kreitzer bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The shares were purchased at an average cost of $20.00 per share, with a total value of $500,000.00. Following the transaction, the director now directly owns 25,000 shares in the company, valued at $500,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan D. Gold bought 200,600 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $4,012,000.00. Following the completion of the transaction, the insider now owns 300 shares in the company, valued at $6,000. The disclosure for this purchase can be found here.
Innovative Industrial Properties Company Profile
Innovative Industrial Properties, Inc is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases.
$IIPR Article From 12/27/16 - Why Innovative Industrial Properties (NYSE:IIPR) Is Still An Attractive Weed Stock
https://bnlfinance.com/2016/12/27/innovative-industrial-properties-nyseiipr-still-attractive-weed-stock/
Innovative Industrial Properties (NYSE:IIPR) is a stock I brought up on chat and wrote an article about before it went public. It is the first Specialty REIT that has went public with regards to the growing demand for both medical and recreational marijuana. However, like a lot of IPO’s it did not go public on the date it was originally designated to do so.
I have kept an eye on it and since my first article. It went public on 12-1-2016. So far Innovative Industrial Properties (NYSE:IIPR) has went down to $14.50 and as high as $20.52. IIPR stock currently sits at $18.55.
What I like about IIPR
Innovative Industrial Properties targets medical-use marijuana facilities for acquisitions. This includes sale-leaseback deals with tenants that are licensed growers under long-term triple-net leases. They are the first to do so that I know of and that gives them a possible edge in this market. When I say this market, I mean one of the fastest growing markets in the world. This industry is poised for significant growth in coming years, the marijuana industry.
As of November 15, 2016, 29 states and the District of Columbia allow their citizens to use medical marijuana, an estimated population of 203.3 million. Other States are on the ballot in the next 2 years. A recent poll by Harris found that 81% of Americans support legalization of marijuana for medical use.
What size of market are we talking about?
If the federal government doesn’t try and stop this train that’s already left the station, then it’s huge. According to The ArcView Group, nationwide sales of legal marijuana grew to $5.4 billion up from $4.6 billion in 2014. Of the $4.6 billion in estimated sales in 2014, approximately 92% of such sales consisted of medical-use sales. By 2020, legal market sales are expected to grow to an estimated $22.8 billion. Medical marijuana is estimated to have sales of approximately $10.2 billion. These are conservative estimates in my opinion.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use marijuana facilities. Innovative Industrial Properties elects to be taxed as a real estate investment trust.
IIPR acquire specialized industrial real estate assets that are used for growing medical-use marijuana and operated by state-licensed growers. Just recently on Dec. 19 2016 IIPR closed on a deal worth noting. They announced sale-leaseback transaction with PharmaCann LLC (“PharmaCann”), acquiring PharmaCann’s newly-constructed 127,000 square foot medical-use marijuana cultivation and processing facility in New York.
Why this is a significant update
New York has nearly 20 million residents. The New York Department of Health has taken significant steps recently to expand access to medical-use marijuana for patients needing treatment. It announced that it plans to add chronic pain to its list of qualifying conditions for treatment, and to allow licensed medical-use marijuana providers to wholesale their products to other licensed providers in the state.
According to the Department of Health, there are nearly 19,000 nurse practitioners and more than 11,000 physician assistants licensed to practice in New York. They are already licensed to prescribe marijuana for many conditions including chronic pain. This is just in New York, keep in mind IL, CA, OR, WA, CO, etc etc. These states among others are doing the same.
With the epidemic of opioid based medication, is marijuana an alternative?
The answer is absolutely yes in my opinion. New studies are being released all the time that support this. The biggest question is how to invest in this market that is growing so fast. Especially, since the Federal Government still refuses to take marijuana, cannabis, pot or weed, whatever you want to call it off its schedule 1 class of drugs. Same class that Cocaine and Heroin are listed as. But as more and more States pass it on their own, the Federal Government will have to act.
What is the push back to keep it illegal you might ask? Follow the money, who gains by keeping it a class 1 drug. Pharmaceutical companies, Private Prisons and DEA to name a few along with moral objections from some people.
Article From 12/27/16 - Why Innovative Industrial Properties (NYSE:IIPR) Is Still An Attractive Weed Stock
https://bnlfinance.com/2016/12/27/innovative-industrial-properties-nyseiipr-still-attractive-weed-stock/
Innovative Industrial Properties (NYSE:IIPR) is a stock I brought up on chat and wrote an article about before it went public. It is the first Specialty REIT that has went public with regards to the growing demand for both medical and recreational marijuana. However, like a lot of IPO’s it did not go public on the date it was originally designated to do so.
I have kept an eye on it and since my first article. It went public on 12-1-2016. So far Innovative Industrial Properties (NYSE:IIPR) has went down to $14.50 and as high as $20.52. IIPR stock currently sits at $18.55.
What I like about IIPR
Innovative Industrial Properties targets medical-use marijuana facilities for acquisitions. This includes sale-leaseback deals with tenants that are licensed growers under long-term triple-net leases. They are the first to do so that I know of and that gives them a possible edge in this market. When I say this market, I mean one of the fastest growing markets in the world. This industry is poised for significant growth in coming years, the marijuana industry.
As of November 15, 2016, 29 states and the District of Columbia allow their citizens to use medical marijuana, an estimated population of 203.3 million. Other States are on the ballot in the next 2 years. A recent poll by Harris found that 81% of Americans support legalization of marijuana for medical use.
What size of market are we talking about?
If the federal government doesn’t try and stop this train that’s already left the station, then it’s huge. According to The ArcView Group, nationwide sales of legal marijuana grew to $5.4 billion up from $4.6 billion in 2014. Of the $4.6 billion in estimated sales in 2014, approximately 92% of such sales consisted of medical-use sales. By 2020, legal market sales are expected to grow to an estimated $22.8 billion. Medical marijuana is estimated to have sales of approximately $10.2 billion. These are conservative estimates in my opinion.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use marijuana facilities. Innovative Industrial Properties elects to be taxed as a real estate investment trust.
IIPR acquire specialized industrial real estate assets that are used for growing medical-use marijuana and operated by state-licensed growers. Just recently on Dec. 19 2016 IIPR closed on a deal worth noting. They announced sale-leaseback transaction with PharmaCann LLC (“PharmaCann”), acquiring PharmaCann’s newly-constructed 127,000 square foot medical-use marijuana cultivation and processing facility in New York.
Why this is a significant update
New York has nearly 20 million residents. The New York Department of Health has taken significant steps recently to expand access to medical-use marijuana for patients needing treatment. It announced that it plans to add chronic pain to its list of qualifying conditions for treatment, and to allow licensed medical-use marijuana providers to wholesale their products to other licensed providers in the state.
According to the Department of Health, there are nearly 19,000 nurse practitioners and more than 11,000 physician assistants licensed to practice in New York. They are already licensed to prescribe marijuana for many conditions including chronic pain. This is just in New York, keep in mind IL, CA, OR, WA, CO, etc etc. These states among others are doing the same.
With the epidemic of opioid based medication, is marijuana an alternative?
The answer is absolutely yes in my opinion. New studies are being released all the time that support this. The biggest question is how to invest in this market that is growing so fast. Especially, since the Federal Government still refuses to take marijuana, cannabis, pot or weed, whatever you want to call it off its schedule 1 class of drugs. Same class that Cocaine and Heroin are listed as. But as more and more States pass it on their own, the Federal Government will have to act.
What is the push back to keep it illegal you might ask? Follow the money, who gains by keeping it a class 1 drug. Pharmaceutical companies, Private Prisons and DEA to name a few along with moral objections from some people.
this company is like a novel that keeps putting out squeals $CBIS
even if we spread a little awareness around the boards, that could even trigger some nice action
there is so much potential here its cray cray
knight capital wouldnt have bought over 10% if there wasn't a major upside to it
$MECK
$MECK - 6M O/S - 1.5M Float DD with Links
OTC Markets Link:
http://www.otcmarkets.com/stock/MECK/quote
Stock Charts
http://stockcharts.com/h-sc/ui?s=MECk
Share Structure
Preferred Stock As of 9/30/15
4,000,000 Authorized, 600,000 designated as Series A Junior participating preferred stock. No shares issued and outstanding
Last 10-Q Filed Link
Common Stock As of As of 9/30/15
18,750,000 Shares Authorized
6,176,947 Shares Issued
6,057,662 Shares Outstanding
Last 10-Q Filed Link
Of the four (4) large block owners who control 56.4 percent of the common stock equaling 3,408,257 shares, we know
Alan M. Meckler LinkedIn Profile Link
Shares as of 9/18/15: 2,002,560
Form 4 Filing Link
Alan M. Meckler Spouse
Shares as of 9/18/15:: 401,194
Form 4 Filing Link
Herman Meckler Family Trust #1
Shares as of 9/18/15: 35,050
Form 4 Filing Link
Herman Meckler Family Trust #2
Shares as of 9/18/15: 9,871
Form 4 Filing Link
The Meckler Foundation
Shares as of 9/18/15: 75,176
Form 4 Filing Link
Meckler Media Corp Treasury Stock
Shares as of 9/18/15: 119,285
Last 10-Q Filed Link
KCG Americas LLC (Knight Capital Group and Getco merged)
Shares as of 9/18/15: 827,231
SEC Filing Link
$IIPR DD Info with Links 4M O/S
INNOVATIVE INDUSTRIAL PROPERTIES, INC.
17190 Bernardo Center Drive
San Diego, California 92128
(858) 997-3332
http://innovativeindustrialproperties.com/
We were incorporated on June 15, 2016 as a Maryland corporation. We intend to elect to be taxed and to operate in a manner that will allow us to qualify as a REIT for U.S. federal income tax purposes commencing with our taxable year ending December 31, 2016 or, if later, the first year in which we have material real estate assets and operations
Ticker Information
Symbol - IIPR
ISIN - US45781V1017
Shares in Issue - 3,350,000
Websites:
Company Website: http://innovativeindustrialproperties.com/
Stock Trading Platform Webpage: http://www.nasdaq.com/symbol/iipr
SEC Filings Link: http://investors.innovativeindustrialproperties.com/sec-filings
iHub Board: http://investorshub.advfn.com/Innovative-Industrial-Properties-IIPR-31418/
Stock Charts: http://stockcharts.com/h-sc/ui?s=IIPR
Executive Team
Our Executive Chairman, Alan Gold, is a 30-year veteran of the real estate industry, including co-founding two New York Stock Exchange-listed REITs: BioMed Realty Trust (formerly NYSE: BMR), a REIT focused on acquiring, leasing, developing and managing laboratory and office space for the life science industry, where he served as chairman, chief executive officer, and president until Blackstone’s acquisition of BioMed Realty in 2016 for $8 billion; and Alexandria Real Estate Equities (NYSE: $ARE), an urban office REIT focused on collaborative science and technology campuses, where he served as president and a director. Our senior management team has significant experience in all aspects of the real estate industry, including acquisitions, dispositions, construction, development, management and lending.
Company Target Market
The Licensed Medical-Use Cannabis Industry
We target medical-use cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term triple-net leases. We believe this industry is poised for significant growth in coming years, and we are focused on being a creative capital provider to this industry through the long-term ownership of cultivators’ mission-critical facilities.
According to The ArcView Group, nationwide sales of legal cannabis grew to $5.4 billion up from $4.6 billion in 2014. Of the $4.6 billion in estimated sales in 2014, approximately 92% of such sales consisted of medical-use sales. By 2020, legal market sales are expected to grow to an estimated $21.8 billion, of which estimated medical-use sales will be approximately $10.2 billion.
As of November 15, 2016, 29 states and the District of Columbia allow their citizens to use medical cannabis, with an estimated combined population of 203.3 million. We expect other states to approve medical-use cannabis in coming years as well. A 2015 poll by Harris found that 81% of Americans support legalization of cannabis for medical use.
Company Properties
Medical-Use Cannabis Cultivation and Processing Facilities
We acquire specialized industrial real estate assets that are used for growing medical-use cannabis and operated by state-licensed growers. We focus on properties with sophisticated technology and infrastructure to meet rigorous quality standards for medical-use cannabis. Concurrently with our acquisition of these properties, we enter into leases with the state-licensed growers under long-term, triple-net lease agreements. We act as a source of capital to these licensed medical-use cannabis growers by entering into sale-leaseback transactions with them for their specialized industrial real estate.
Company Tenants
Sophisticated, Best-in-Class Medical-Use Cannabis Growers
We work with growers who have been among the top candidates in the rigorous state licensing process.
Through thorough research and analysis of the companies and their management teams, we identify what we consider to be the best licensed medical-use cannabis growers that would benefit from financing for their properties to raise capital to meet their growing needs. Our research expertise is instrumental to uncovering opportunities with the most qualified growers.
Company Leases
Long-Term, Triple-Net Arrangements
Our leases with tenants are generally long-term triple-net lease arrangements, where the tenant is responsible for taxes, maintenance, insurance and structural repairs, in addition to base rent. Our lease terms are generally fifteen years or more, with renewal options exercisable by the tenant, and with contractual annual rent adjustments. By selling the property and building to us, and then leasing it back from us, growers are able to redeploy the proceeds into their company’s core operation and yield a higher return than they would otherwise get from owning their own real estate.
Full Management Team:
Alan Gold
Executive Chairman
Paul Smithers
Chief Executive Officer, President, and Director
LinkedIn Profile
Robert Sistek
Chief Financial Officer & Executive Vice President, Investments
LinkedIn Profile
Greg Fahey
Chief Accounting Officer and Treasurer
Brian Wolfe
Vice President, General Counsel and Secretary
LinkedIn Profile
Gary Kreitzer
Vice Chairman
Gary Malino
Director
LinkedIn Profile
David Stecher
Director
LinkedIn Profile
Scott Shoemaker, MD
Director
Possible LinkedIn Profil
S-11/A : As filed with the Securities and Exchange Commission on November 29, 2016
Registration No. 333-214148
Filing Link
Share Information
Authorized Shares
50,000,000 shares of common stock, $0.001 par value per share, including
(i) 49,000,000 shares of Class A common stock
(ii) 1,000,000 shares of Class B common stock [to be cancelled by management]
(iii) up to 50,000,000 shares of preferred stock, $0.001 par value per share
Outstanding shares
4,000,000 shares of Class A common stock ( 4,600,000 shares is underwriters exercise option)
Treasury / IIPR Reserved for future issuance under Incentive Plan
1,000,000 Shares of Class A common
Class A Common Stock
Innovative Industrial Properties, Inc. is a newly-formed, self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities.
This is our initial public offering. We are selling 4,000,000 shares of our Class A common stock.
We expect the initial public offering price of our Class A common stock to be $20.00 per share. Prior to this offering, no public market exists for our shares. We have been approved to list our shares of Class A common stock on the New York Stock Exchange, or the NYSE, subject to official notice of issuance, under the symbol “IIPR.”
UNDERWRITING
The estimated expenses of this offering payable by us, exclusive of the underwriting discount, are approximately $1,550,000. We have agreed to reimburse the underwriters for fees and expenses of counsel up to $20,000 related to the review by Financial Industry Regulatory Authority, Inc. of the terms of the sale of the shares of the Class A common stock in this offering and up to $5,000 related to the preparation of a “blue sky” memorandum. Additionally, we or our affiliates will pay up to $20,000 of certain transportation costs in connection with the roadshow. We have also agreed to reimburse $25,000 of out-of-pocket expenses of certain participating dealers.
The underwriters may also purchase up to an additional 600,000 shares of our Class A common stock from us at the public offering price, less the underwriting discount, within 30 days from the date of this prospectus solely to cover over-allotments, if any.
Transfer Agent and Registrar
The transfer agent and registrar for our Class A common stock is expected to be Computershare Trust Company, N.A.
Listing
We have been approved to list our shares of Class A common stock on the NYSE, subject to official notice of issuance, under the symbol “IIPR.”
IPO Share Info
All IPO shares od Class A common stock are free tradable
We expect to issue 13,750 shares of Class A common stock to each of Messrs. Sistek and Wolfe at the first meeting of the compensation committee of our board of directors after completion of this offering, and intend to reserve an additional 972,500 shares of Class A common stock for future issuance under the Incentive Plan.
Lock-up Agreements
We and each of our executive officers and directors have agreed with the underwriters not to offer, sell or otherwise dispose of any common stock or any securities convertible into or exercisable or exchangeable for or repayable with common stock (including limited partnership interests in our Operating Partnership) or any rights to acquire common stock for 180 days after the date of this prospectus, without first obtaining the written consent of Ladenburg Thalmann & Co. Inc., the representative of the underwriters. Specifically, we and these other persons have agreed, with certain limited exceptions, not to directly or indirectly:
• offer, pledge, sell or contract to sell any common stock;
• sell any option or contract to purchase any common stock;
• purchase any option or contract to sell any common stock;
• grant any option, right or warrant for the sale of any common stock;
• lend or otherwise transfer or dispose of any common stock;
• exercise any right to request or require registration of any common stock or other securities;
• file or cause to be filed any registration statement related to the common stock; or
• enter into any swap or other agreement or transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of any common stock whether any such swap, agreement or transaction is to be settled by the delivery of shares of common stock or other securities, in cash or otherwise.
This lock-up provision applies to common stock and to securities convertible into or exchangeable or exercisable for or repayable with common stock. It also applies to common stock owned now or acquired later by the person executing the agreement or for which the person executing the agreement later acquires the power of disposition.
Restrictions on Ownership and Transfer
In order for us to qualify as a REIT under the Code, shares of our stock must be owned by 100 or more persons during at least 335 days of a taxable year of 12 months (other than the first year for which an election to be taxed as a REIT has been made) or during a proportionate part of a shorter taxable year. Also, under Section 856(h) of the Code, a REIT cannot be “closely held.” In this regard, not more than 50% of the value of the outstanding shares of stock may be owned, directly or indirectly, by five or fewer individuals (as defined in the Code to include certain entities) during the last half of a taxable year (other than the first year for which an election to be a REIT has been made). See the section entitled “Material U.S. Federal Income Tax Considerations” in this prospectus for further discussion on this topic.
Requirements for Qualification as a REIT
A REIT is a corporation, trust or association that satisfies each of the following requirements:
(1) It is managed by one or more trustees or directors;
(2) Its beneficial ownership is evidenced by transferable shares of stock, or by transferable shares or certificates of beneficial interest;
(3) It would be taxable as a domestic corporation, but for Sections 856 through 860 of the Code, i.e., the REIT provisions;
(4) It is neither a financial institution nor an insurance company subject to special provisions of the U.S. federal income tax laws;
(5) At least 100 persons are beneficial owners of its stock or ownership shares or certificates (determined without reference to any rules of attribution);
(6) Not more than 50% in value of its outstanding stock or shares of beneficial interest are owned, directly or indirectly, by five or fewer individuals, which the U.S. federal income tax laws define to include certain entities, during the last half of any taxable year;
(7) It elects to be a REIT, or has made such election for a previous taxable year, and satisfies all relevant filing and other administrative requirements established by the Service that must be met to qualify to be taxed as a REIT for U.S. federal income tax purposes;
(8) It uses a calendar year for U.S. federal income tax purposes and complies with the recordkeeping requirements of the U.S. federal income tax laws;
(9) It meets certain other requirements described below, regarding the sources of its gross income, the nature and diversification of its assets and the distribution of its income;
(10) It has no undistributed earnings and profits from any non-REIT taxable year at the close of any taxable year.
We must satisfy requirements 1 through 4, and 8 during our entire taxable year and must satisfy requirement 5 during at least 335 days of a taxable year of 12 months, or during a proportionate part of a taxable year of less than 12 months. Requirements 5 and 6 apply to us beginning with our 2016 taxable year. If we comply with certain requirements for ascertaining the beneficial ownership of our outstanding stock in a taxable year and have no reason to know that we violated requirement 6, we will be deemed to have satisfied requirement 6 for that taxable year. For purposes of determining stock ownership under requirement 6, an “individual” generally includes a supplemental unemployment compensation benefits plan, a private foundation, or a portion of a trust permanently set aside or used exclusively for charitable purposes. An “individual,” however, generally does not include a trust that is a qualified employee pension or profit sharing trust under the U.S. federal income tax laws, and beneficiaries of such a trust will be treated as holding our stock in proportion to their actuarial interests in the trust for purposes of requirement 6.
We believe that we will issue sufficient stock with enough diversity of ownership to allow us to satisfy requirements 5 and 6 above. In addition, our charter provides for restrictions regarding the ownership and transfer of shares of our capital stock. The restrictions in our charter are intended, among other things, to assist us in satisfying requirements 5 and 6 described above. These restrictions, however, may not ensure that we will be able to satisfy such share ownership requirements in all cases. If we fail to satisfy these share ownership requirements, our qualification as a REIT may terminate.
To monitor compliance with the share ownership requirements, we generally will be required to maintain records regarding the actual ownership of our shares. To do so, we must demand written statements each year from the record holders of significant percentages of our shares pursuant to which the record holders must disclose the actual owners of the shares (i.e., the persons required to include our dividends in their gross income). We must maintain a list of those persons failing or refusing to comply with this demand as part of our records. We could be subject to monetary penalties if we fail to comply with these record-keeping requirements. If you fail or refuse to comply with the demands, you will be required by Treasury Regulations to submit a statement with your tax return disclosing your actual ownership of our shares and other information. In addition, we must satisfy all relevant filing and other administrative requirements that must be met to elect and maintain REIT status. We intend to comply with these requirements.
For purposes of requirement 8, we have adopted December 31 as our year end for U.S. federal income tax purposes, and thereby satisfy this requirement.
$IIPR DD Info with Links - 4M O/S
INNOVATIVE INDUSTRIAL PROPERTIES, INC.
17190 Bernardo Center Drive
San Diego, California 92128
(858) 997-3332
http://innovativeindustrialproperties.com/
We were incorporated on June 15, 2016 as a Maryland corporation. We intend to elect to be taxed and to operate in a manner that will allow us to qualify as a REIT for U.S. federal income tax purposes commencing with our taxable year ending December 31, 2016 or, if later, the first year in which we have material real estate assets and operations
Ticker Information
Symbol - IIPR
ISIN - US45781V1017
Shares in Issue - 3,350,000
Websites:
Company Website: http://innovativeindustrialproperties.com/
Stock Trading Platform Webpage: http://www.nasdaq.com/symbol/iipr
SEC Filings Link: http://investors.innovativeindustrialproperties.com/sec-filings
iHub Board: http://investorshub.advfn.com/Innovative-Industrial-Properties-IIPR-31418/
Stock Charts: http://stockcharts.com/h-sc/ui?s=IIPR
Executive Team
Our Executive Chairman, Alan Gold, is a 30-year veteran of the real estate industry, including co-founding two New York Stock Exchange-listed REITs: BioMed Realty Trust (formerly NYSE: BMR), a REIT focused on acquiring, leasing, developing and managing laboratory and office space for the life science industry, where he served as chairman, chief executive officer, and president until Blackstone’s acquisition of BioMed Realty in 2016 for $8 billion; and Alexandria Real Estate Equities (NYSE: $ARE), an urban office REIT focused on collaborative science and technology campuses, where he served as president and a director. Our senior management team has significant experience in all aspects of the real estate industry, including acquisitions, dispositions, construction, development, management and lending.
Company Target Market
The Licensed Medical-Use Cannabis Industry
We target medical-use cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term triple-net leases. We believe this industry is poised for significant growth in coming years, and we are focused on being a creative capital provider to this industry through the long-term ownership of cultivators’ mission-critical facilities.
According to The ArcView Group, nationwide sales of legal cannabis grew to $5.4 billion up from $4.6 billion in 2014. Of the $4.6 billion in estimated sales in 2014, approximately 92% of such sales consisted of medical-use sales. By 2020, legal market sales are expected to grow to an estimated $21.8 billion, of which estimated medical-use sales will be approximately $10.2 billion.
As of November 15, 2016, 29 states and the District of Columbia allow their citizens to use medical cannabis, with an estimated combined population of 203.3 million. We expect other states to approve medical-use cannabis in coming years as well. A 2015 poll by Harris found that 81% of Americans support legalization of cannabis for medical use.
Company Properties
Medical-Use Cannabis Cultivation and Processing Facilities
We acquire specialized industrial real estate assets that are used for growing medical-use cannabis and operated by state-licensed growers. We focus on properties with sophisticated technology and infrastructure to meet rigorous quality standards for medical-use cannabis. Concurrently with our acquisition of these properties, we enter into leases with the state-licensed growers under long-term, triple-net lease agreements. We act as a source of capital to these licensed medical-use cannabis growers by entering into sale-leaseback transactions with them for their specialized industrial real estate.
Company Tenants
Sophisticated, Best-in-Class Medical-Use Cannabis Growers
We work with growers who have been among the top candidates in the rigorous state licensing process.
Through thorough research and analysis of the companies and their management teams, we identify what we consider to be the best licensed medical-use cannabis growers that would benefit from financing for their properties to raise capital to meet their growing needs. Our research expertise is instrumental to uncovering opportunities with the most qualified growers.
Company Leases
Long-Term, Triple-Net Arrangements
Our leases with tenants are generally long-term triple-net lease arrangements, where the tenant is responsible for taxes, maintenance, insurance and structural repairs, in addition to base rent. Our lease terms are generally fifteen years or more, with renewal options exercisable by the tenant, and with contractual annual rent adjustments. By selling the property and building to us, and then leasing it back from us, growers are able to redeploy the proceeds into their company’s core operation and yield a higher return than they would otherwise get from owning their own real estate.
Full Management Team:
Alan Gold
Executive Chairman
Paul Smithers
Chief Executive Officer, President, and Director
LinkedIn Profile
Robert Sistek
Chief Financial Officer & Executive Vice President, Investments
LinkedIn Profile
Greg Fahey
Chief Accounting Officer and Treasurer
Brian Wolfe
Vice President, General Counsel and Secretary
LinkedIn Profile
Gary Kreitzer
Vice Chairman
Gary Malino
Director
LinkedIn Profile
David Stecher
Director
LinkedIn Profile
Scott Shoemaker, MD
Director
Possible LinkedIn Profil
S-11/A : As filed with the Securities and Exchange Commission on November 29, 2016
Registration No. 333-214148
Filing Link
Share Information
Authorized Shares
50,000,000 shares of common stock, $0.001 par value per share, including
(i) 49,000,000 shares of Class A common stock
(ii) 1,000,000 shares of Class B common stock [to be cancelled by management]
(iii) up to 50,000,000 shares of preferred stock, $0.001 par value per share
Outstanding shares
4,000,000 shares of Class A common stock ( 4,600,000 shares is underwriters exercise option)
Treasury / IIPR Reserved for future issuance under Incentive Plan
1,000,000 Shares of Class A common
Class A Common Stock
Innovative Industrial Properties, Inc. is a newly-formed, self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities.
This is our initial public offering. We are selling 4,000,000 shares of our Class A common stock.
We expect the initial public offering price of our Class A common stock to be $20.00 per share. Prior to this offering, no public market exists for our shares. We have been approved to list our shares of Class A common stock on the New York Stock Exchange, or the NYSE, subject to official notice of issuance, under the symbol “IIPR.”
UNDERWRITING
The estimated expenses of this offering payable by us, exclusive of the underwriting discount, are approximately $1,550,000. We have agreed to reimburse the underwriters for fees and expenses of counsel up to $20,000 related to the review by Financial Industry Regulatory Authority, Inc. of the terms of the sale of the shares of the Class A common stock in this offering and up to $5,000 related to the preparation of a “blue sky” memorandum. Additionally, we or our affiliates will pay up to $20,000 of certain transportation costs in connection with the roadshow. We have also agreed to reimburse $25,000 of out-of-pocket expenses of certain participating dealers.
The underwriters may also purchase up to an additional 600,000 shares of our Class A common stock from us at the public offering price, less the underwriting discount, within 30 days from the date of this prospectus solely to cover over-allotments, if any.
Transfer Agent and Registrar
The transfer agent and registrar for our Class A common stock is expected to be Computershare Trust Company, N.A.
Listing
We have been approved to list our shares of Class A common stock on the NYSE, subject to official notice of issuance, under the symbol “IIPR.”
IPO Share Info
All IPO shares od Class A common stock are free tradable
We expect to issue 13,750 shares of Class A common stock to each of Messrs. Sistek and Wolfe at the first meeting of the compensation committee of our board of directors after completion of this offering, and intend to reserve an additional 972,500 shares of Class A common stock for future issuance under the Incentive Plan.
Lock-up Agreements
We and each of our executive officers and directors have agreed with the underwriters not to offer, sell or otherwise dispose of any common stock or any securities convertible into or exercisable or exchangeable for or repayable with common stock (including limited partnership interests in our Operating Partnership) or any rights to acquire common stock for 180 days after the date of this prospectus, without first obtaining the written consent of Ladenburg Thalmann & Co. Inc., the representative of the underwriters. Specifically, we and these other persons have agreed, with certain limited exceptions, not to directly or indirectly:
• offer, pledge, sell or contract to sell any common stock;
• sell any option or contract to purchase any common stock;
• purchase any option or contract to sell any common stock;
• grant any option, right or warrant for the sale of any common stock;
• lend or otherwise transfer or dispose of any common stock;
• exercise any right to request or require registration of any common stock or other securities;
• file or cause to be filed any registration statement related to the common stock; or
• enter into any swap or other agreement or transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of any common stock whether any such swap, agreement or transaction is to be settled by the delivery of shares of common stock or other securities, in cash or otherwise.
This lock-up provision applies to common stock and to securities convertible into or exchangeable or exercisable for or repayable with common stock. It also applies to common stock owned now or acquired later by the person executing the agreement or for which the person executing the agreement later acquires the power of disposition.
Restrictions on Ownership and Transfer
In order for us to qualify as a REIT under the Code, shares of our stock must be owned by 100 or more persons during at least 335 days of a taxable year of 12 months (other than the first year for which an election to be taxed as a REIT has been made) or during a proportionate part of a shorter taxable year. Also, under Section 856(h) of the Code, a REIT cannot be “closely held.” In this regard, not more than 50% of the value of the outstanding shares of stock may be owned, directly or indirectly, by five or fewer individuals (as defined in the Code to include certain entities) during the last half of a taxable year (other than the first year for which an election to be a REIT has been made). See the section entitled “Material U.S. Federal Income Tax Considerations” in this prospectus for further discussion on this topic.
Requirements for Qualification as a REIT
A REIT is a corporation, trust or association that satisfies each of the following requirements:
(1) It is managed by one or more trustees or directors;
(2) Its beneficial ownership is evidenced by transferable shares of stock, or by transferable shares or certificates of beneficial interest;
(3) It would be taxable as a domestic corporation, but for Sections 856 through 860 of the Code, i.e., the REIT provisions;
(4) It is neither a financial institution nor an insurance company subject to special provisions of the U.S. federal income tax laws;
(5) At least 100 persons are beneficial owners of its stock or ownership shares or certificates (determined without reference to any rules of attribution);
(6) Not more than 50% in value of its outstanding stock or shares of beneficial interest are owned, directly or indirectly, by five or fewer individuals, which the U.S. federal income tax laws define to include certain entities, during the last half of any taxable year;
(7) It elects to be a REIT, or has made such election for a previous taxable year, and satisfies all relevant filing and other administrative requirements established by the Service that must be met to qualify to be taxed as a REIT for U.S. federal income tax purposes;
(8) It uses a calendar year for U.S. federal income tax purposes and complies with the recordkeeping requirements of the U.S. federal income tax laws;
(9) It meets certain other requirements described below, regarding the sources of its gross income, the nature and diversification of its assets and the distribution of its income;
(10) It has no undistributed earnings and profits from any non-REIT taxable year at the close of any taxable year.
We must satisfy requirements 1 through 4, and 8 during our entire taxable year and must satisfy requirement 5 during at least 335 days of a taxable year of 12 months, or during a proportionate part of a taxable year of less than 12 months. Requirements 5 and 6 apply to us beginning with our 2016 taxable year. If we comply with certain requirements for ascertaining the beneficial ownership of our outstanding stock in a taxable year and have no reason to know that we violated requirement 6, we will be deemed to have satisfied requirement 6 for that taxable year. For purposes of determining stock ownership under requirement 6, an “individual” generally includes a supplemental unemployment compensation benefits plan, a private foundation, or a portion of a trust permanently set aside or used exclusively for charitable purposes. An “individual,” however, generally does not include a trust that is a qualified employee pension or profit sharing trust under the U.S. federal income tax laws, and beneficiaries of such a trust will be treated as holding our stock in proportion to their actuarial interests in the trust for purposes of requirement 6.
We believe that we will issue sufficient stock with enough diversity of ownership to allow us to satisfy requirements 5 and 6 above. In addition, our charter provides for restrictions regarding the ownership and transfer of shares of our capital stock. The restrictions in our charter are intended, among other things, to assist us in satisfying requirements 5 and 6 described above. These restrictions, however, may not ensure that we will be able to satisfy such share ownership requirements in all cases. If we fail to satisfy these share ownership requirements, our qualification as a REIT may terminate.
To monitor compliance with the share ownership requirements, we generally will be required to maintain records regarding the actual ownership of our shares. To do so, we must demand written statements each year from the record holders of significant percentages of our shares pursuant to which the record holders must disclose the actual owners of the shares (i.e., the persons required to include our dividends in their gross income). We must maintain a list of those persons failing or refusing to comply with this demand as part of our records. We could be subject to monetary penalties if we fail to comply with these record-keeping requirements. If you fail or refuse to comply with the demands, you will be required by Treasury Regulations to submit a statement with your tax return disclosing your actual ownership of our shares and other information. In addition, we must satisfy all relevant filing and other administrative requirements that must be met to elect and maintain REIT status. We intend to comply with these requirements.
For purposes of requirement 8, we have adopted December 31 as our year end for U.S. federal income tax purposes, and thereby satisfy this requirement.
if played correctly this could be something nice $MECK
ive unofficially accounted (meaning i have an idea of general ownership, that i own a majority) for the majority of the shares and those numbers are even a few weeks old now
these little share trades really have my interest peaked
i agree - and easy perhaps but also was trading below "standard" book value for some time
with the Bollis pinching and accum still high + positive CC = the justified next move up
im holding for now, im looking forward to dividends and $30+
$BAC