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Must read regarding PR!
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; or
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
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! Sorry for the confusion!
We were right all along, unreal how this is all unfolding.
I think I just found the biggest clue about the PR :)
check this out.. there are only a couple of exceptions for you to not include a safe harbor statement in a press release..
http://www.borisfeldman.com/Safe_Harbor.htm
V. EXCEPTIONS TO THE SAFE HARBOR
The Act provides certain exceptions to the safe harbor, both in terms of parties that may not invoke it and transactions to which it does not apply. The safe harbor is not available in connection with an issuer that was convicted of certain securities-related crimes, or was the subject of securities-related consent decrees, during the prior three years. Section 27A(b)(1)(A). Nor is it available to penny-stock companies, companies involved in "blank check" offerings or roll-ups, or to companies that are going private. Section 27A(b)(1)(B)-(E).
The safe harbor does not apply to forward-looking statements made in connection with an initial public offering, a tender offer, or a partnership offering. Section 27A(b)(2)(C)-(E). The safe harbor does not apply to beneficial ownership filings under section 13(d) of the 1934 Act or to investment company registration statements. Section 27A(b)(2)(B),(F). Nor does it apply to forward-looking statements "included in a financial statement prepared in accordance with generally accepted accounting principles." section 27A(b)(2)(A).
:)
After figuring out who gets what , they've realized they no longer needed the agency that baker was leading, and with what's left of the company they will continue to get the best price for Alll stakeholders(which includes shareholders).
ALL ABOARD ! THIS IS THE NEWS WE'VE ALL BEEN WAITING FOR! IT WAS NEVER A DARK PERIOD IT WAS A NON DICLOSURE AGREEMENT!!! WE WERE RIGHT ALL ALONG IT'S A BUYOUT AND ABOUT TO BE CLOSED ! BE PROUD AND WAIT FOR ALL THIS TO FINISH !
I'm actually more confident in ATRN now more then ever, deal is about to close and this will all be over with soon.
lmao cause i just searched the movie are you the guy on the cover ;)
....? Who are you ..
They did. Which why they announced it and which is why baker left, negotiations are done so it's time to move on they gave baker the boot. They gave us the weekend to decipher this PR. Fong did say it would answer some of our questions, and they did they answered what we knew all along that we were being bought out and when we finally got the news we didn't even realize!
Step 7 Is done! Terminated negotiations, the deal has yet to be closed! Anyways I've said my piece.
Ok but dude just look at this! Terminating negotiations is the last step of the buyout!!
THEY TERMINATED NEGOTIATIONS WITH A POTENTIAL ACQUIRER
READ NUMBER 8
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.
"Generally this requires professional assistance by your lawyer, business analyst or outside financial consultant." Craig Campbell? Recent hire?
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.
Atrinsic has decided to wind down support for its agency business after finishing negotiations with a potential acquirer! So after we've figured who gets what, we realized we no longer want the agency. Think about vaguely worded it is, written by a lawyer, so that they can't say when it does happen that they threw us off. Youknnnoowwwwwhhhaatttimmmssaayyinngg?
I know but even the wording of the pr is worded so vaguely, written by a lawyer, that it was perfectly worded so they didn't say they are no longer being acquired. We need more fact and clarification on this PR if they'll give us any.
After terminating negotiations with a potential acquirer we've decided we no longer need our agency business. Quite evident to me.
There was no failed deal. A buyout is in the works the deal was never terminated.
The legalities of the PR are worded so that they told us their being bought out, and they're tryin to get the best price for all shareholders, and until then buzz off. Why else wouldn't it be Maine stream news and not on their site, it wasn't meant to be seen by anyone but us.
We know they hired a consultant. We know they're in buyout talks. It doesn't say the deal is off the table and it doesn't mention they're going out of business. Its worded so vaguely for a damn reason.
Exactly. They did it vaguely enough to get people to misunderstand it but they saved their ass legally and made sure they didn't say they were not being bought out. But they did mention an acquirer, which is confirmed, which is what is happening.
The pr doesn't even say it fell apart. After terminating negotiations with a potential acquirer.. We no longer want our agency business and were winding it down .. It's worded so vaguely that it doesn't say they are no longer proceeding with the buyout. To me it sounds like they terminate negotiations of who gets what.
Tell me up tank am I wrong? Read through my posts is my thinkking wrong! I'm totally convinced this is them announcing were done negotiations an are moving forward with the buyout. We no longer need the agency. We will continue to get the best price with what's left !
THEY'VE TERMINATED NEGOTIATING WHAT STAYS AND WHAT GOES!! The negotiations have been terminated, theyve decided they no longer need the agency !. We will get the best price with what's left for ALL our stakeholders !
Man think about it. The release 20 minutes before. Continuing to maximize value with remaining assets. After termination of negotiations we no longer need our agency (which answers our question on why baker left ) if it was bad news they would've done it before market. It was meant to be good news but the first poster that brought it up touted it as ' HORRIBLE NEWS '. This news means they're currently in a buyout! They are windows down the agency business, after terminating negotiations for the company!
AFTER termination of negotiations, we've decided we no longer need the agency baker was running. If it didn't fall through they wouldn't even have announced it! They are dark why bother in the first place!
AND WE RECEIVED IT AS SAYING "HORRIBLE NEWS"
So everyone assumed it was and everyone spun it negatively, but it's not it's what we've been waiting for !
The pr clearly says after terminating negotiations with a potential acquirer we've decided we no longer need our agency business why is why baker left. We will CONTINUE to get maximum value for all our stakeholders. Pretty obvious if you ask me.. Just worded a little ambiguously. 3:40 pm release, it was suppose to go up not down!!
THEY CONFIRMED A BUYOUT!
People stop and think for a second! After terminating negotiations with the acquirer, they've realized they Jo longer need the agency business's which is why baker left. WITH WHAT'S REMAINING OF THE COMPANY THEY ARE CONTINUING TO MAXIMIZE THE VALUE OF THE REST OF THEIR ASSETS ALL OF
THEIR SHAREHOLDERS. IT WAS RELEASED AT 3:40 PM SO THE STOCK COULD SOAR! IFF IT WAS BAD THEY WOULD'VE RELEASED IT AFTER HOURS OR NOT RELEASED IT AT ALL WE MISINTERPRETED THE PR!
Wait timeout. I think they were announcing we're in a buyout. Chad had called and asked why Aaron Baker wasn't there, and fong responded your question will be answered in the PR. The or states that negotiations are done, and they are going to wind down the business. Meaning after negotiating being acquired, we've decided to cut off the agency part of our business. WE ARE CONTINUING TO GET THE MAXIMUM VALUE FOR OUR SHARE HOLDERS. We totally misunderstood this PR. this is them announcing were being bought out !!
I think the only reason why they blatantly don't give a shit about their share price is because they are in fact in negotiations. They said it best we are still trying to get value for our stakeholders. They are trying to maximize the buyout price. Instead of the other company taking on deadweight and possibly paying less they just got rid of the agency!
Don't tell me you did that!! Big no no. Go to keep your cool were Canadians ! Don't lose your shit like that definitely not cool
Maybe they were trying to rush out this pr? Like buck was saying maybe they are in negotiation.
Ps I had a dream I ran into you at a coffee shop and you were wearing the same outfit as your dp but you were a lot younger. Lmao true story.
just read through your posts. Love it.
Doesn't he always sign the bottom of the pr?
No, he said he spoke with Craig Campbell. Who isn't even listed on the directory. Does he have his cell phone number ?
LMAO WTF JUST HAPPENED. I ALMOST DUMPED MY ENTIRE POSITION. I WAS SHAKING WHEN I FOUND OUT. WTTTTFFF WAS THAT LLMMAAAAAOOOOO
He isn't talked about enough. That man is a genius and he works for us ..
Just called fong, he said I was the millionth person to call today and they will in fact be issuing a statement
ATRN blastin of with facebook
Who just bought 400k! Jeeze!
What price is everyone buying at? Is everyone buying at the same price ?