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Welcome back aboard!
I agree that: "If it looks to good to be true, it usually is"
Key word here is usually...not always.
1. The insider shares are restricted, they can't sell here if were a pump & dump.
2. The deal has been stated as complete- with both buy and seller agreeing to the .49/share price.
All that remains is the proxy vote by shareholders to complete it.
I just don't see where DMTN management would gain anything here if they were scamming investors.
Well I got my fill at .13 now.
These day-to-day moves aren't important if you believe they buyout is a done deal as it's stated in the prs.
Since it a pinkie and still thinly traded (10M shares on a .10-.20 stock is nothing), we can expect volatility to come- both up and down.
Just hold on tight because when they announce the date of the proxy vote, this will take off again!
I bought today because I know they can announce the proxy vote at any time now, and I wanted to be "all in" at these prices.
lookin for 95k more at .135
somebody- please sell!
10k filled so far....i'll sit here at .135.
Anybody wanting to sell- PLEASE DO SO NOW! :)
Trying to buy more at .135 now
"The agreement to transact the private purchase of all DMTN issued and outstanding stock for .49 USD has been approved by the D Mecatronics board of directors and also the purchaser's board of directors," said Mr. Paolucci.
Pretty much sums it up for me anyway.
There are only 2 possibilities here:
1. This deal is done: signed/sealed/delivered as they state in their prs, with only shareholder approval remaining(since DMTN board doesn't hold a majority of shares).
or
2. It's a pump and dump scam, and the entire board of DMTN will be going to jail.
I vote #1.
stockpro
I for one appreciate your questioning of the buyout process as it has made me dig deeper into their filings and take a second & third look at their prs. I believe it's on the up & up.
I believe the buyer has voted/approved the transaction as has DMTN. This deal has already been inked between buyer and seller.
"The agreement to transact the private purchase of all DMTN issued and outstanding stock for .49 USD has been approved by the D Mecatronics board of directors and also the purchaser's board of directors, ' said Mr. Paolucci.
All that remains is shareholder vote since the restricted shares the board of DMTN controls do not constitute a majority. If they had unrestricted shares they could dump into the market and profit from, I'd be concerned. But that's just not the case here.
All JMHO...but I think this is an absolute steal here, and I plan to add to my position.
I did read the whole thing.
But the bottom line is:
Are they profitable?
Answer: NO.
Will there be more dilution still...adding to the over 600M shares?
Answer: According to their need for additional funding, YES.
That pretty much sums up the 8-k.
I find it very distasteful that people were posting earlier today that "we're now a PROFITABLE company", etc. when clearly, that is not the case. Then they sold into the gap.
lol- that's great for anyone who bought at well under 1c before the pump was on.
But I doubt you'll see new highs anytime soon. Not when the 8-k shows declining revenues and increasing losses.
No compelling reason to buy a stock with 600M+ shares that is losing money hand over fist and already stated in their 8-k they need to raise more $.
More dilution is on the way- do you really think this will ever get above .04 again (without a reverse split)?
looks like the market agrees with me.
Smart money bailing.
"WiseBuys has not yet achieved the business alliances or the financing that will be required for the conversion"
Looks like more dilution to come.
already well over 600M shares...what will it be next year, 1B?
How many people here have actually bothered to READ the 8-k???
Not much here to get excited about if you READ.
"Six Months Ended July 31, 2007 Compared to Six Months ended July 31, 2006
WiseBuys Stores, Inc. retail division has experienced losses since inception, which is primarily a result of: (i) the expensing of start-up expenses incurred since 2003, and (ii) the lower per item sales price and lower margins (to WiseBuys) associated with its "third party" retail relationships. Management does not feel that WiseBuys can avoid start-up expenses if it is to continue an aggressive growth strategy, and while start-up expenses may be significant they are viewed as an investment in future recurring business and necessary to grow the company.
The lower margins and lower per item sales prices of the goods are generated primarily because of WiseBuys' third party partners in "discount" clothing and footwear. For the future, WiseBuys management intends to supplement or replace these partners with internally procured merchandise of higher quality, higher margin goods. We are exploring a number of avenues to achieve this reformation of our business model. Bringing clothing and footwear procurement and merchandising capability in house to WiseBuys is one of the key motivations for the current plan to acquire Patrick Hackett, which would replace our third party vendors with a fully integrated system for marketing high quality clothing and footwear under proprietary labels.
WiseBuys net sales for the six months ended July 31, 2007 totaled $1,871,483, a decrease of 26% from net sales recorded in the six months ended July 31, 2006. The primary reason for the decline is the decision of management to alter the company's fundamental business plan, from a business focused on third party vendors to a business primarily involved in marketing our own inventory. WiseBuys has not yet achieved the business alliances or the financing that will be required for the conversion. Nevertheless management has gradually reduced WiseBuys involvement with third party vendors in anticipation of the change. The immediate result has been the reduction in net sales. "
The gap closed- why is it still going down?
I think the dilution is an issue, as are the declining revenues of their acquisition.
It's currently up less than the highs of the two previous days highs, and the day is far from over.
This could go red by the close.
JMHO, but after reading over a good number of posts here, I don't think there are many "investors" in this stock.
Just speculators/daytraders who buy the rumor/sell the news.
Put in your GTC sell orders for .49!
Tie up your shares!
``The agreement to transact the private purchase of all DMTN issued and outstanding stock for .49 USD has been approved by the D Mecatronics board of directors and also the purchaser's board of directors,'' said Mr. Paolucci.
Folks, this is a DONE DEAL, no question about it.
If they said the deal was "agreed upon in principal", or some other vague language, I wouldn't be so sure this is going to happen. But to say it's been voted on and APPROVED is black and white.
Should see .30s by early next week- especially if an update on proxy vote is released.
Tomorrow should have 15-20M traded IMO.
As soon as proxy vote date is announced and people realize this is for real, we'll be over .30.
Could happen any day now!
DMTN- record price/volome today.
The .49 premium doesn't seem far-fetched when you consider
the weakness of the US dolar.
The buyout company is in Europe.
8M+ volume in DMTN.
Nice backing/filling as she goes through the day too.
Yep. Price breakout above resistance on record volume.
Should be a gapper tomorrow!
Good volume already (6.18M). Probably go up as week progresses?
record volume DMTN 6M+ shares.
Nice 300k + trade on ask. Should se more as day progresses.
Once out of .15-.16, this will move nicely IMHO!
over 5M shares- record volume and it's only 12:30
I think .20 by Friday, at the latest.
DMTN .15 now on record volume. .20+ by Friday IMO!
I see .20 by Friday in DMTN
why isn't this stock above .30 already?
Seems like a pretty good bet down here to me...
Cameron Fous at TheTechnicalTrader.net picking up on CHME
Good stuff!
http://thetechnicaltrader.net/small-cap-stock-picks/chmeob-chinas-dirt-cheap-drug-retailer
re CHME.OB
I was using the eps I saw on another site and overstated the eps.
EPS is actually less due to recent dilution ...but PE still about 10, which is cheap.
Don't know if any of you follow Cameron Fous, at TheTechnicalTrader.net, but his China picks have been spot on. He just picked up CHME.OB last week. His picks usually provide big returns in a short period of time.
Anyway, he makes some good points about the stock here:
http://thetechnicaltrader.net/small-cap-stock-picks/chmeob-chinas-dirt-cheap-drug-retailer
Got some today.
Income growth rate here does not justify a PE of under 6.
That anomaly won't last long.
CHME (China Medicine Corp) ttm income .77/share. PE under 5?
Float 1.1M, should do well as people find it.
Chart looks like a nice run with consolidation- seems to be bouncing off recent lows now.
SEC filing is clean:
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0001144204-07-042616&Type=HTML
what if no PR before the open?
I'm prepared for that...but if it happens, we're gonna tank. :(
By noon tomorrow we should be at either .02 or .20+
I wouldn't expect one really- too much like insider info this close to the closing.
"I think we will get the PR tomorrow on the deal being closed and finalized."
We better!
I bet people had some stop loss orders in that got taken out.
When they get home from work today, they might be pissed that they had their TKAT sold from underneath them.
Unfortunately, MMs do this to load up shares sometimes.
any other pending rms out there- especially one involving China?
TIA