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Well I hope it works out for us. I will be waiting to hear if you find out anything.. We need another good split play. It has been awhile since our last one...
Thanks
Larry
Hi Patsy, You had better take it easy.. I do know from experience that taking a few of those tylenol PM tablets can do wonders. My last job I had to work all of the 3 shifts and there were times when I was popping those tablets like candy..LOL
GTMH: I saw that there was no volume on it so I tried to get 250. The Bid was .25 and the ask was 2.00. When I put my order in the Ask raised to 3.00. So I put an order in for 200 at 3.00. I didn't want to ask for to many at one time and not get filled. They only filled 100 shares. The next time I checked 1,100 shares had been traded (100 were mine) Someone must have bought 400 shares at 4.00 then the ask jumped to 11.00. I was waiting for the spread to tighten before buying aby more.
Larry
High Ammobox.. That sounds good.. Didn't you say at one time that the same people that brought out RCVR brought out another one before that? I thought that I remember you writing something about it. I could be wrong. I would love another RCVR/ESYG!!!!!!! I got in at the high end pre split (which still wasn't that bad) at $1.65 and still made at least an 800% profit:)
But, I have lost a lot of money in other forward splits also :(
Larry
Hi Patsy. I was only able to get 100 shares of GTMH at $3.00
I don't mind where the Ask is. I want the Bid to rise to somewhere around $7.00 at least. If this is anything like HDVG then $11.00 is not to much to ask. $.85 post split. It'll probably open up post split around $1.50 or higher.
I would not be upset if the Ask dropped though :)
Have you looked at HDVG or ESYG lately? They are holding up very well.
I know that GTMH doesn't have any revenues at the present time. So I'm just going to take a chance on this and see what happens.
Larry
NMFG National Manufacturing Technologies Inc 05/23/2001 2-1 stk 06/19/2001 06/04/2001 06/18/2001
Due bills redeemable 6/21
GTMH GTM Holdings Inc 05/25/2001 13-1 stk 06/14/2001 06/12/2001 06/13/2001
Due bills redeemable 6/18
I meant the price is low per share on my previos post.. I might be around on Friday??? Real busy lately :)
Larry
One more post gang..
NMFG National Manufacturing Technologies Inc 05/23/2001 2-1 stk 06/19/2001 06/04/2001 06/18/2001
Due bills redeemable 6/21
4 million in the float At its low now. I don't know what to make of it since there hasn't been a better reaction to the split yet. But maybe it'll turn out all right.
Take care!
Larry
Hope all is well with everyone. I just stopped by to see if there were any split plays..
Have a good day!
Larry
GTMH GTM Holdings Inc 05/25/2001 13-1 stk 06/14/2001 06/12/2001 06/13/2001
Due bills redeemable 6/18
Hello.. I think that CROE will fly tomorrow.. LOL
Larry
Have you guys seen TRGC today? Up 800%.. I was just checking in an noticed that one.. And many more stocks are looking good to. Just not as good as TRGC
Have a good day all!
Larry
NBRG NewBridge Capital Inc 05/18/2001 5-1 stk 07/03/2001 06/01/2001 07/02/2001
Due bills redeemable 7/6
Good Morning all.. Thanks for the kind words gang...
FYI PEPM news from Friday
http://biz.yahoo.com/prnews/010518/cgf014.html
Have a good day everyone...
Larry
Thanks Patsy :) eom..
05/16 17:08 NewBridge Capital Delays Forward Split <NBRG.OB>
(Float of 700k)
NewBridge Capital Delays Forward Split
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--May 16, 2001--NewBridge Capital Inc. (OTCBB:NBRG) ("NewBridge") today announced that the previously announced 5-for-1 forward split of all of its issued and outstanding common stock, effective May 15, 2001, is hereby delayed.
The effective date of May 15, 2001, contained in the Newbridge's prior announcement was incorrect. The record date and distribution date will be announced within the next 2 days.
Hello everyone.. I have been extremely busy with work and family.. I try to check out this board when I can.. I think that as the summer nears I'll be posting less and less.. It is easier for me in the winter months.. Our second child is due towards the end of June so I am busy with baby projects and I have a 2 yr old who won't let me sit idle by the computer...
I will post when I can and will share any stocks plays that I can find.. I will mostly be looking at doing my DD at night time.
Have a good weekend.
Larry
TCCT split the other day 8-1 but wasn't trading. The new symbol is IJON. It traded 1,000 shares today @ $4.00. Now the Bid is $3.00 and the Ask is $5.00. I'm not touching it, but I just like to see how these splits pan out post split.
Hello all, I got this off of BOBZ.. Looks pretty good. 600k float. Moved pretty well on only 26,000 shares traded today. GSTD has no revenues. I'm surprised to see that the price per share has been over a dollar... GSTD wants to spin off to form a company to trade on the OTCBB if it does the merger and also might do a 2 to 1 split.. All sounds good.. But who knows?
STD: (2.10x2.45) reverse merger, 2 for 1 stock split, spin off
GSTD, a NASDAQ listed company, filed an 8K on 5/8/2001 stating they have entered into a Letter of Intent with Vector Medical Technologies, Inc. ("Vector"), a Delaware corporation providing for the merger of Vector into the Registrant (GSTD), in a "reverse merger."
www.VectorMedTech.com
-Vector Medical Technologies, Inc. has the worldwide rights for a revolutionary transdermal delivery system, which allows a wide variety of high molecular weight drugs and other materials to pass through the skin. The Company is pursuing this technology to enable non-invasive delivery of macromolecule drugs, which are now principally administered by injection, such as insulin.
-All of the existing assets and liabilities of GSTD including any cash or cash equivalents will be spun off to all shareholders of record of GSTD coincident to the completion date of this transaction. (currently $1,842,236 in cash/CD’s, $47,299 in liabilities per 01/31/2001 10Q).
-POSSIBLE 2 for 1 Forward Stock Split: The rate of exchange will be set so that, immediately following the closing, the shareholders of GSTD will own 10% of the fully-diluted stock of the corporation. Prior to closing, GSTD may do a forward stock split of a maximum of 2-for-1.
-Prior to the date of closing and as a condition precedent to closing, VECTOR will arrange for the new private placement of nine hundred thousand newly issued, fully paid, non-assessable shares of VECTOR stock at a price of $5.00 per share to raise $4,000,000.00 net of commissions in cash. These shares shall be exchanged for shares of GSTDon a share for share basis on the date of closing. Subsequent to the closing VECTOR shall arrange for a private placement or secondary offering of an additional $76,000,000.00 of the merged entity common stock at a target price of $10.00 per share, such offering to be completed within six months following the date of closing.
-The parties will use their best efforts to obtain a NASDAQ listing for the stock of the combined company.
-Vector Medical Technologies, Inc. To date, two private placements (with accredited physician investors) have raised approximately $14,700,000 of net proceeds. The Company is in discussions with several venture capital funds to raise additional funding which should position the Company for an Initial Public Offering at an appropriate time in the future, possibly 2001.
-Directors of the Company : Michael H. Salit M.D., David H. Fater, Diran M. Kaloustian. Diran M. Kaloustian was the founding President and CEO of the world's largest trust company, The Depository Trust Company, New York. He was an Executive Vice-President at the New York Stock Exchange, and a Director as well as a member of its Executive Committee; a member of various National and International Securities Exchanges, as well as a consultant to various international entities including the London Stock Exchange, and the Government of Mexico. In addition, Mr. Kaloustian was President and Director of the Singer Corporation, New York, Investment Bankers and Underwriters, and Members of the major Stock Exchanges. He is an attorney (Juris Doctor) and is admitted to the U.S. Supreme Court, the U.S. Court of Appeals, various U.S. District Courts, and the States of Florida, New York, and Texas.
8K FILING
---------
www.freeedgar.com/search/ViewFilings.asp?CIK=42136&Directory=96313&Year=01&SECIndex=500067&Extension=.tst&PathFlag=0&TextFileSize=18993&SFType=&SDFiled=&DateFiled=5/8/2001&SourcePage=FilingsResults&UseFrame=1&OEMSource=&FormType=8-K&CompanyName=GOLD+STANDA
10Q FILING
----------
www.freeedgar.com/search/ViewFilings.asp?CIK=42136&Directory=96313&Year=01&SECIndex=500067&Extension=.tst&PathFlag=0&TextFileSize=18993&SFType=&SDFiled=&DateFiled=5/8/2001&SourcePage=FilingsResults&UseFrame=1&OEMSource=&FormType=8-K&CompanyName=GOLD+STANDA
Good morning all. I have to leave as soon as I post this so I hope that you all have a good day. PMIC seems to move on little volume. And I don't think that it probably has had much volume lately. There are 1,000,000 shares in the float and the company will purchase 100,000 shares within the next few months. Coming off its 52 wk low. Take care everyone!
05/07 09:01 Pacific Magtron International Corp Announces Share Repurchase
Program <PMIC.O>
Pacific Magtron International Corp Announces Share Repurchase Program
MILPITAS, Calif.--(BUSINESS WIRE)--May 7, 2001--Pacific Magtron International Corp. (Nasdaq:PMIC) announced today that its Board of Directors has authorized the Company from time to time to repurchase up to 100,000 shares of its common stock over the next several months. The Company plans to make purchases in the open market.
Ted Li, President and CEO of Pacific Magtron International, stated, "The Company does not believe that the recent trading prices of its common stock are reflective of the Company's true value. Based upon fundamentals, we believe that our shares are undervalued and represent an attractive use of the Company's cash. Our repurchase program reflects management's confidence in the future of the Company while reducing the number of outstanding shares that should benefit the remaining shareholders."
Pacific Magtron International Corporation is an enterprise dedicated to providing total solutions in the computer marketplace through its operating subsidiaries, Pacific Magtron, Inc. and FrontLine Network Consulting, Inc. Founded in 1989, Pacific Magtron, Inc. fulfills the multimedia hardware needs of system integrators, value added resellers, retailers, and Internet resellers. FrontLine Network Consulting serves as a corporate information services group catering to the networking and Internet infrastructure requirements of corporate clients. Lea Publishing, LLC is a joint venture of the Company that intends to provide Internet users, resellers and service providers advanced solutions and applications. For more information visit our website at www.pacmag.com.
This press release contains forward-looking statements, which are made pursuant to the Safe Harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties that could cause actual results to be materially different. Factors include, but are not limited to, technological changes, diminished marketability of inventory, increased warranty costs, competition, recruitment and retention of technical personnel, dependence on continued manufacturer certification, dependence on key personnel and certain suppliers, risks associated with the projects in which the Company is engaged to complete, risks associated with Lea Publishing, LLC, and with its investments in Rising Edge Technologies, Inc. and others. A more complete listing of cautionary statements and risk factors is contained in the Company's report on Form 10-K for the year ended December 31, 1999 filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties. The Company disavows any obligation to update or correct any of its forward-looking statements.
--30--rr/se*
CONTACT: Maven Strategic Partners
Ed Bailey, 801/350-0245
Investorrelations@pacmag.com Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: http://www.businesswire.com (c) 2000 Business Wire
© Copyright 2001 Reuters. Click Here for Limitations and Restrictions on Use.
Michael, I'm glad to hear that you don't own any shares of TLYX. You're right, I thought that you might still own some.
Reverse splits seem to be the kiss of death for these BB stocks. If you are willing to hold for a long period of time they might actually make it. I'm not willing to take that chance.
Take care! I should be around on Monday, I'll chat with you then.
Larry
PROXY STATEMENT AND
NOTICE OF SPECIAL MEETING OF STOCKHOLDERS
TO BE HELD JUNE 1, 2001
To the Stockholders: NOTICE IS HEREBY GIVEN that a Special Meeting of Stockholders of Telynx, Inc. (the "Company") will be held at 10:00 a.m., on Friday, June 1, 2001 at the Embassy Suites Hotel, 6100 Gateway East, El Paso, Texas, for the following purposes:
1. To amend the Restated Certificate of Incorporation of the Company to increase the number of authorized shares of Class A Common Stock to 1,000,000,000 from 200,000,000.
2. To amend the Restated Certificate of Incorporation of the Company to effect a 1-for-2 reverse stock split
16 FOR 1 FORWARD SPLIT
======================
11:59 IGNT Indiginet Inc 04/23/2001 16-1 stk 05/07/2001 04/30/2001 04/30/2001
Due bills redeemable 5/9
www.nasdaqtrader.com/dailylist/history/dividends/di05042001.stm
WEB SITE
========
www.InDigiNet.com
ANALYST REPORT
==============
www.indiginet.com/2001/indigi_analyst_report.html
Projected 2002* Revenues: $ 98,000,000 Projected 2002 Net Income: $3,600,000
Date: Wednesday, November 08, 2000, 8:57 AM
Ray Dirks
Dirks & Co.
18 E. 53rd Street
New York, New York 10022
Tel: 212-832-6700
Indiginet, Inc.
Integrating Digital Networks
Shares Outstanding: 5,500,000 (pre funding)
Projected 2001* Revenues: $ 25,000,000 Projected 2001 Net Income: $ 420,000
Projected 2002* Revenues: $ 98,000,000 Projected 2002 Net Income: $3,600,000
*Assumes funding and acquisition schedule for 2000 is completed.
Summary & Conclusion
Indiginet has developed an exciting strategy to capitalize on a common problem facing small and medium sized businesses. Most of these businesses obtain their communications services from several providers. These may include a long distance provider, a local phone provider, an Internet provider, a data service provider, a paging provider and cellular provider. Pricing is confusing. Billing is unwieldy. Management often lacks the expertise to select the best and most cost-efficient combination of providers. Responsibility is often disclaimed with providers blaming one another for breakdowns. Indiginet plans to eliminate this problem for the business owner by providing all of these services, plus supervision and issuing one bill. Additional features and cost-cutting benefits will also be provided.
Interestingly, part of the solution for Indiginet is another big problem. Many of the independent Internet Service Providers (ISPs) are in trouble. Many are losing money, are low on capital, and need to be rescued. These are available at bargain basement prices. Indiginet has identified and entered into exploratory acquisition discussions with several ISPs that would fit in with the Company's business plan. Using the customer base of the ISPs as a foundation, Indiginet will offer to integrate additional communications services to the customer with pricing discounts. Indiginet will assume total responsibility for overall efficiency, hardware, software, NetWare, phone lines wireless, etc.
We envision Indiginet rapidly becoming a sizeable and highly profitable entity, which delivers an integrated array of communication services to small and medium sized businesses.
Member SIPC (Hedge clause)
No statement or expression of opinion or any other matter contained herein contained is, or is deemed to be an offer or a solicitation of an offer to buy or sell the security referred to above. The information contained herein is taken from sources believed to be reliable, but its accuracy cannot be guaranteed. The principals and employees of this company may trade its securities subject to self-imposed restrictions.
Background
The Telecommunications Act of 1996 basically fosters robust competition at all levels of the industry. The Local Exchange Carriers (LECs) must make interconnection services and unbundled network elements available to the common carriers at wholesale prices so that, in turn the common carriers may re-offer these services at competitive retail prices to their subscribers. The benefit to Indiginet is precisely that. They will utilize the customer base of acquired ISPs and sell them integrated additional services at competitive prices. The inducement for the customer is greater functionality at a lower cost. In addition, with Indiginet assuming responsibility for efficiency, maintenance, equipment, security etc., the customer is unburdened of multiple headaches. . Whereas everyone from Ma Bell to Sprint to has been only moderately successful in integrating services, they have failed to identify the factors that will get the customer to respond. The key to success in this area lies in being able to provide an additional layer of expertise and service not available through the LECs or other service providers. Indiginet can do that.
Strategy
To date, a common platform to provide total communication service has not as yet been created. Indigent's intention is to acquire ISP's with their business customer bases, appears to be an efficient method of establishing a total communications platform. Technical support, service and billing across the whole spectrum of communications services are accessed through one toll-free number. Indiginet will access various carriers' networks and superimpose a "virtual " network that would allow monitoring, redundancy, and enhanced reliability. The monthly cost of leased point-to-point connections would be eliminated. Although Internet Protocol is not a universal standard yet, equipment manufacturers and software companies are progressing toward that goal. Equipment is available that can multiplex communications services simultaneously over a direct connection on a single line to a carrier. Eventually, Internet Protocol could become the most efficient and widely used standard for transmission of voice as well as data. It is the Company's intention to partner with top- tiered service providers, and lease access lines from carriers to upgrade the acquired ISPs. By building a "virtual backbone" the Company will be able to focus internally on providing high quality services to the end-user.
Markets
The total domestic communications market is rapidly approaching $ 1 trillion. The principal segments are voice (local and long distance,) wireless and data services including the Internet.
Voice:
The once exclusive domain of AT&T is now shared with several regional and local telephone companies as well as national and regional long distance companies. Each is vying for greater market share, offering additional services and offering discounts. Typically, a long distance provider such as AT&T is soliciting its long distance customers to subscribe to local service or the local service provider is offering long distance service to its customer base. However, neither offers a comprehensive package for the small or medium sized business owner. In addition, this effort is offset by the high cost of soliciting new customers and a general customer perception of poor or inadequate service.
Wireless:
Paging: There are now over 60 million paging units in operation domestically. Growth is expected to continue robust, strengthened by development of more advanced messaging equipments and firming pricing trends. Domestically, growth is driven by convenience and low cost. For Indiginet, the ability to attract and keep clients will derive from the customer satisfaction experienced with the ISP service, coupled with the convenience and cost discounting associated with bundling and the benefits derived from integration.
Mobile: It's not difficult to see that there are close to 100 million mobile phone users domestically, up from about 30 million as recently as 1995. It seems that just about every other person one passes on the street or passes you in his or her car is on the phone. Laptops, hand-held, personal digital assistants are everywhere. These items have become necessities in today's business environment. Overall growth is being sparked by convenience, cost, speed, and range. Indiginet could capitalize on this growth by offering a unified, integrated platform with the most cost efficient combination of equipments.
Internet Services
There are still several million businesses not on line. A good guess is that more than one million will get on line this year. More than half of all small and medium sized businesses have web sites. These sites send and receive E-mail, reduce mailing and advertising costs, improve customer service and increase business.
No one ISP really dominates the business market. There are roughly 5000 independent ISPs in operation with nearly all in some difficulty. The number appears likely to drop precipitously in the next few years to less than 1000. The cause is the shift in market conditions making capital less readily available. Many of the ISPs financed early by venture groups and IPO's failed to deliver on expectations. There was no historical proven business plan. There were only some unproven ideas on how to latch on to the explosive growth of the Internet. The necessity for capital to invest in equipment, marketing, expansion and to provide first class service is a given. Therefore, many of the ISPs are losing money and looking to be acquired even at historically low prices.
The opportunity for Indiginet at this point in time is to take advantage of these circumstances with a realistic updated business model.
The Business Model
Indiginet has targeted a specific group of ISPs for acquisition. Preliminary negotiations have been initiated with several. One group of ISPs can be classified as hubs. Another group may be classified as spokes. A hub acquisition would be expected to generate annual revenues of $1,000,000 and, whereas a spoke would generate revenues approximating roughly $ 150,000. Several hubs and spokes would consist of a region generating several million dollars in the first year.
These ISPs have residential dial-up customers and business accounts. Indiginet intends to sell off the residential accounts and focus on the business client. Selling off the residential clients will help pay for the acquisition. Focusing on the business client will pay off by insuring the highest quality service, and pave the way for marketing integrated additional services. We believe marketing integrated services will work because the business customer will receive a comprehensive solution for his communications needs on a cost-effective basis. The overall responsibility will be shifted from several communication services and, in some instances, the customer's middle managers, to Indiginet. Third party providers who will lease telecommunications and wireless network access functions to Indiginet will handle most of Indiginet's costly operations. Cost savings and operating margin improvements would thereby accrue to the Company. Indiginet will focus on sales, marketing and customer service. In addition, the Company will establish technical standards and apply them uniformly across all acquired companies. Internal communications will be seamless over the company's intranet. By standardizing all equipment and software the company will derive the benefit of volume discounts.
Acquisition Tactics
The ideal acquisition candidate would have a high proportion of business clients, existing strategic relationships, a strong sales force and a capable management willing to stay involved with growing the business. Owners of the hub companies to be acquired would receive cash, stock and long-term debt in Indiginet in exchange for all of their outstanding shares. Spoke acquisitions would receive 50% of the purchase price in cash with the balance to be held by the previous owners for 24 months. Purchases would be valued at a multiple of revenues, which is the standard industry practice. In recent years prices have fallen dramatically from an average of 1.5 times revenues to 0.5 times recently. Variations in the multiple would reflect such things as financial condition, operating margins, the proportion of business clients, size etc.
Management of the acquired companies that are retained would have strong incentives to grow sales and sell additional products as well as penalties in the way of note adjustments for failure to meet revenues as per acquisition negotiations. The inducement to the acquired management, other than being rescued in some instances, is that with upgraded equipment, a broader product line, centralized marketing, advertising, sales and support, they can envision a path to growth and profitability beyond their present circumstances.
SELECTED FINANCIAL PROJECTIONS*
Year 2001 2002
Revenues $25,000,000 $98,000,000
EBITDA 3,100,000 23,500,000
Net Income 420,000 3,6000,000
* Assumes financing plan and acquisition program for 2000 are completed.
Happy anniversary Patsy! :) eom
Thanks, Now we know... If you knew this to bad you couldn't have explained this before..
I'm out of here.
Larry
Hey guys, I sold my shares on 4-24.. I was told that I was suppose to hold until 4-30 (Pay out date) My mistake... I guess you live and learn.. I told them that I thought that you could sell out after the record date. They told me something about if the certificates were mailed to you and in your hand by the record date then you were entitled to the dividend.. This stuff is and can be very confusing.. All in all I should have just held my shares...
Take care guys I have to leave and won't be around for a few days.
:(
Larry
You think that OPHD couldn't be any worse, well I'm on hold with an E*Trade broker because they took my cash from the dividend back out of my account... WTH is up?????
Larry
Have a good night everyone!..eom
Sounds like a lot of fun Patsy! Never Grow Up..LOL
I was going to buy CORX this morning at around 2.00.. Is there a certain price per share that a stock has to be at to start trading on the AMEX?
MONDAY , APRIL 30, 2001 07:33 AM
IRVINE, Calif., Apr 30, 2001 /PRNewswire via COMTEX/ -- Cortex Pharmaceuticals, Inc. (OTC Bulletin Board: CORX) announced today that its shares of common stock had been approved for listing on The American Stock Exchange. The shares are expected to begin trading on the Exchange during the week of May 7, 2001, under the ticker symbol COR. The Company's shares will cease trading on the Over the Counter Bulletin Board on the same date.
"We are very pleased to join The American Stock Exchange," said Vincent F. Simmon, Ph.D., President and Chief Executive Officer of Cortex. "There are many benefits of an exchange listing, including a substantially enhanced visibility. Through its investor relations programs and services, we believe that listing on the AMEX will help us build long-term value for our shareholders. Currently our share price is not quoted in daily newspapers because we are a bulletin board stock. In addition, many investment funds that might have an interest in Cortex are not permitted to take positions in stocks that are not listed on one of the major exchanges."
Cortex, located in Irvine, California, is a neuroscience company focused on novel drug therapies for neurological and psychiatric disorders. The Company is pioneering a class of proprietary pharmaceuticals called AMPAKINE compounds, which act to increase the strength of signals at connections between brain cells. The weakening or loss of these connections is thought to be responsible for memory difficulties from Alzheimer's disease and to contribute to cognitive dysfunction in schizophrenia. A recently completed study with AMPAKINE CX516 in patients with schizophrenia indicated improvement in a number of symptoms also common to patients with ADHD. Cortex has alliances with NV Organon for the potential treatment of schizophrenia and depression, and with Shire Pharmaceuticals Group for the evaluation and potential licensing of the AMPAKINE technology and molecules as a treatment for attention deficit hyperactivity disorder (ADHD). Cortex has licensed the AMPAKINE technology in Europe and Asia to Les Laboratoires Servier of Paris for a number of age and disease related neurodegenerative conditions including Alzheimer's disease, Mild Cognitive Impairment and dementias associated with diseases such as multiple sclerosis and Parkinson's disease.
Website: http://www.cortexpharm.com/
Good to hear! I'm doing the same. I think that most of us here are holding and waiting for the merger news :)
Larry
OPHD looks good IMO also..eom
Are we having a shake out on COMM?..eom
Hey Michael, I bought 5000 shares of COMM at .24.. I thought that it was strange that they had to break up this small of an order. 4150 and 850... That usaully is a good sign..
I would really like to see it pop like it did a few weeks back
Thanks for the heads up.
Larry
Thanks Ammobox..eom
Yep, I took a beating on RNWR..EOM
I was thinking of buying MLMS at open this morning. .18 x .20 .. Now .23 x .25.. I realy don't know why it is getting a lot of attention. Possible news this week I guess.. I believe that this stock did a 2-1 forward split last month..
Just FYI
Larry
I was checking into ISNQ this past weekend also and can not see how someone could steal 2.5 mil shares of a companies stock. But, the value of the stock has jumped up this morning.. I will stay out. All ready up to much for me.
Anyone have any thoughts/predictions on OPHD's post merger share price? Patsy, Did Susan Maynard give any hint to a time frame for the merger? It seems that they have been working on the deal for at least 6 months now.
Larry
I would of liked to own this before last Friday..
Danvers Bancorp, Inc. and Revere, MHC Announce Merger
DANVERS, Mass. and REVERE, Mass., Apr 27, 2001 (BUSINESS WIRE) -- Danvers Bancorp, Inc., Danvers, Massachusetts ("Danvers Bancorp") and Revere, MHC have entered into an Agreement and Plan of Merger (the "Agreement"). Danvers Savings Bank is a Massachusetts chartered savings bank which is wholly-owned by Danvers Bancorp, Inc., a Massachusetts corporation. Revere Federal Savings Bank ("Revere Bank") is a federally-chartered stock savings bank which is wholly-owned by RFS Bancorp, Inc. (OTC Bulletin Board: RFED) ("RFS Bancorp") which is a federally-chartered mid-tier holding company and subsidiary of Revere, MHC, a federally-chartered mutual holding company. Pursuant to the Agreement, the mutual holding company structure of Revere, MHC will be eliminated and Revere Bank will ultimately merge with and into Danvers Savings Bank and will operate as a division of Danvers Savings Bank. The stockholders of RFS Bancorp other than Revere, MHC (the "Public Stockholders") will receive $22.75 in cash in exchange for each share of common stock.
Kevin T. Bottomley, President and CEO of Danvers stated, "This transaction represents a natural expansion for us. It is really the best of all worlds. We expand geographically and increase our market share substantially while merging with an organization that shares similar corporate values. Both institutions are community-oriented financial institutions, and we look forward to serving Revere's market. The key to success for this transaction is that Revere's current strong management team and employee base is being kept intact. We are expecting a seamless transaction."
The transaction is subject to several conditions, including the receipt of regulatory approvals and the approval of the stockholders of RFS Bancorp. The common stock of RFS Bancorp currently trades over the counter under the symbol "RFED."
Pursuant to the Agreement, two members of RFS Bancorp's Board will become members of Danvers' Board. In addition, Danvers will establish a Revere Advisory Board consisting of Revere's current Board members. The President and Chief Executive Officer of Revere will continue to serve as President of Revere as a division of Danvers Savings Bank. Mr. McCarthy will also serve as an Executive Vice President at Danvers Bancorp.
President and Chief Executive Officer of Revere, James J. McCarthy states, "We are excited about becoming part of the Danvers family. We believe this type of transaction allows our Public Stockholders to receive a significant premium for their stock while our depositors retain their membership rights in Danvers. Our companies have similar business approaches and compatible product lines. This strategic alliance with Danvers will give us the opportunity to expand our delivery channels and allow us to compete in a much broader market."
Danvers Savings Bank, founded in 1850, serves its communities through seven offices, including six full-service branches located on the North Shore. At December 31, 2000, Danvers Savings Bank had total assets of $454 million, deposits of $352 million and net worth of $39 million. As of December 31, 2000, Revere Bank had total assets, deposits and stockholders' equity of $145 million, $92 million and $10.7 million, respectively. Revere currently operates two full-service branches located in Revere and Chelsea, Massachusetts.
This press release contains certain statements that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which are, in some cases, beyond the control of RFS Bancorp, Inc., as the case may be. Actual events, performance and results could differ materially from the anticipated event, performance or results expressed or implied in such forward-looking statements. The factors which may cause such differences include, among other factors, the ability of the parties to consummate the transactions contemplated by the Agreement, conditions imposed on the consummation of such transactions by regulatory agencies, the competitive environment and general economic conditions.
Investors and security holders are advised to read the proxy statement and other documents related to the Danvers and Revere, MHC merger when they become available and any amendments to these documents when they become available because they will contain important information. Investors and security holders may obtain these documents free of charge, when available, and other documents filed by RFS Bancorp with the Securities and Exchange Commission at the SEC's Internet web site (www.sec.gov) and these documents may be obtained for free from RFS Bancorp by directing such request to RFS Bancorp, Inc., 310 Broadway, P.O. Box 509, Revere, Mass. 02151, telephone 781-284-7777.
RFS Bancorp and its directors intend to solicit proxies from RFS Bancorp shareholders in favor of the merger. The names of the directors of RFS Bancorp and information regarding their security holdings may be obtained for free from RFS Bancorp by directing such request to RFS Bancorp, Inc., 310 Broadway, P.O. Box 509, Revere, Mass. 02151, telephone 781-284-7777.
CONTACT: Danvers Savings Bank
Kevin T. Bottomley
(978) 739-0263
or
RFS Bancorp, Inc.
James J. McCarthy
(781) 284-7777
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