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Please don't stone me, I know early this morning I said I would stop posting, but maybe I should have summarized the reality of all of this more clearly since some of you are completely off in left field on your hopes, or lies, about what will happen Wednesday when it reopens.
First, ACLH was not "halted", it was "suspended". Big difference, go find out.
Second: Suspensions are to protect the public, "potential buyers". You already own, you are not the public and not protected. Sorry, the SEC doesn't care what happens to your position.
Third: The 10 days suspension serves as a red flag to those thinking about getting in, it means everyone cool down, check it out carefully, or really be ware before you buy when we reopen (protect potential buyers, not holders).
Fourth: If the stock traded on AMEX or NASDAQ it will reopen on the same exchange. However, if it is OTB (pinks) then it will reopen and trade on greys until 211 is met. There has probably never been a stock reopen from a suspension back on the pinks. It takes a while to clear the hurdles (more on this below).
Fifth: The 10 day suspension is a cooling off period, it is completely unrelated to what the SEC will or will not being doing in relation to the investigation of the company, and they will not "clear" the company or otherwise say "we're satisfied with the company's info". So in ACLH's case, it doesn't matter if the PR's were true, if there was a contract or even if the SEC completely got it wrong. We will never know in relation to the resumption of trading.
Sixth: All hope isn't lost as I was trying to say this morning. In my view, since the suspension was related to the PR's, then clearing the 211 (mostly concerned with financial info) doesn't seem like it would be that difficult or time consuming. But, it will still open on the greys and I imagine it will still take several weeks or months, in the most perfect scenario, to regain pin status.
But even if still on the greys, something like a contract with BP, if big enough, could still rocket the pps in the huge dollar range. Now unlikely, but I liken it to a bio on the greys that gets FDA approval of a cancer treatment drug. Remember, CTIC, at .0008 (on pinks though0 shot to over 2.00 on FDA approval. And this was in the fallout of the Italian market halt and the basically br company giving its officers year end million dollar bonuses putting it in the red.
So, I think, if ACLH gets good enough news we could still trade at a considerable penny or even dollar range. Now this is if we have very huge big "ifs" happen. I'm not saying it is reasonable expected under existing circumstances.
I have realized you really can't make people "get it" when they are at this point and want to believe. So after this I'm going to stop posting here and elsewhere. But, contrary to what most of you probably think I'll part with some, though little encouragement.
First, my apology, I couldn't quite remember the circumstances with CTIC when someone else posted they had resumed traded from a suspension and quickly went from .0008 to 2.00. I went back and checked. They had a brief "halt" under another section of the sec provisions because Italy had briefly halted them. THey got that cleared in Italy so resumed trading on their pre-halt board. Not in any way similar to recovering from a suspension.
But, what I will point out with ACLH. They were suspended for issues clearly related PR's, about BP issues. It had nothing to do with their financials, which were up date with filing at that point. SO what I'm thinking, the hurtles to resume trading on the pinks mostly deal with MM's having current financial info, which really isn't the issue with ACLH. So, I really don't know how difficult getting through the 211 process with MM's would be when the issue isn't the financials. I can't find a company that has had to come back from that. You wouldn't think that would be too difficult nor time consuming. These who guys say the process "takes months or years" give no examples which we can go back and compare to so I don't put any weight on that. So, this might be some hope that the road home might not be as long was one would think. So there you have it, Mentorman said something that might shine hope on this situation. I'll watch from the sidelines from here on out.
Maronti1: I'm sorry, I read your post too quickly and thought you were the one who had ordered photos. Wouldn't expect you to chase that down.
Maronti: I really would like to see this thing move like Brad seems to predict, but in reality we have a long hard road to even see a penny years from now, but if we break the .0006 wall we might see a run into the low .00xx's. But that said, I am curious how the FreePrintz deal works. If you did receive some, tell us how the advertising works? ON the delivery envelope? ON back of the photos? I mean, just what are the advertisers paying for? And, whose advertising on the ones you got? Thanks for your reply in advance.
Wow, I'm not going to bother reading the other 30 or do posts on this page to catch up. I stayed away for a week, checked in tonight and nothing has changed. The convictors still bashing, the "we will reopen on pinks" are still saying no one knows, we'll have to wait until the 9th to know.
From someone who will lose on this regardless this is my take on how it probably went down. Aclh got a little sloppy in the wording of their PRs re BP probably due in part from hooking up with PSC. The SEC sent them inquiries but they didn't respond thinking they could front off their concerns with the PR updates on the radio show. But for lack of a response the SEC suspended. Probably nothing serious criminal wise, maybe a civil penalty down the line. But immediately it screws the ability to trade the stock for months, and it may not ever recover as a suspension reflects poorly on management regardless of the outcome down the road with the SEC matters, if any at all. So this is terrible for shareholders, management's reputation and future, and for the company in general. Some companies prove that wrong, ie CTIC,but that's 1 in thousands. If you're long is plan years to recover if at all. Not bashing, just keeping it real.
Phooltog: In reality in light of the 5% rule no one tries to covertly acquire a company. Why? Because if you haven't bought control by the 11th day w/o tipping off the market, you will then pay an ungodly amount for the remaining shares once the cat is out of the bag. And, go look, the SEC tags investors all the time with million dollar fines and settlements when disclosure isn't given at the 5% threshold even when there was no takeover attempt.
I know many of you want to believe in this. But just go back and look at every PR, what was promised. THen look at what "doesn't" happen to the pps after each PR. Then, much sooner than promised another PR follows pumping up the facts, followed by no action of the pps. THey keep trying. But the market set value considering all circumstances looking forward. And, despite all the pumping and lies you've seen here, even by mods, the market isn't buying this, pps has actually gone down and stayed down. Real investors, the market, aren't buying this crap.
GHV: Since I don't know anything about your views on the mysteries of life, I wouldn't risk offending you by telling you I'm making a gesture to a deity in relation to the passing of your father. My wife and I generally try to limit our expressions in such situations to the notion that we are thinking about someone going through such a period of loss. But since I don't know you at all, all I can say is I truly wouldn't wish such a loss on anyone regardless of the setting in which I find myself associated with them.
Oh come on WWW, the gig is up! Look at the info posted, this increase was effective today! I was right, Rothman must be at the end of his rope and going all in. The SEC will surely catch up with him and I wouldn't be surprised if SNRS makes the suspension list tomorrow morning. WWW, that comment would almost make you one of the scammers yourself. But I haven't checked your history, yet, so will give you the presumption of stupidity for now.
Any predictions of Rothman's PR tomorrow to lead us into the weekend in suspense and anticipation of making even more money since today's PR failed to move the pps?
Here's a crack at it.
SNRS announced today that its interim CEO Alan Rothaman has made it clear to Nourtech that a more reasonable recommendation that he can now make to shareholders to consider is .01 per share for the outstanding shares. Pending the 10% down payment now in progress Rothman will make this new recommendation and will make a formal announcement the second Tuesday of next week.
Sound as good as what we've gotten so far?
Fotog: Let me summarize a refresher here for everyone on how the June 1 date came and went.
10:00 am, Wed, May 26; SNRS PR's it received an unsolicited offer to buy 100% of the OS. No buyer name given nor offer price. Company advises it will get back with shareholders by June 1 as to its position.
Reaction? Price pps tanks unlike SNRS was probably hoping.
1:00 pm, Wed, May 26, SNRS changes its plans and immediately PR's that the offer was .0003, will get back with us June 1 even though they think that is low.
Reaction? PPS doesn't move beyond .0001 and .0002, SNRS struck out again.
8:00 am, Thurs, May 27; SNRS PR's it will recommend a counteroffer of .0005, get back with us June 1.
Reaction? PPS still tanking.
3:00 pm, Thurs, May 27; SNRS PR's that buyer has got a counter to their counter that offer is .0004. The board (all of Rothman's personalities) will meet May 28 to discuss this new counter offer and get back with us June 1.
Reaction? Market laughs, price continues to linger.
4:00 pm, May 27, SNRS/ROthman go into hiding. Thereafter several days followed by emails purportedly, but never proven, to be from Xplostivestocks.com making outlandish and unbelievable claims about the details of the "Nourtech - SNRS deal".
Reaction? Market not impressed, pps lingers.
June 1: Still no word from SNRS/Rothman. XS is apparently still making wild announcements on SNRS's behalf.
Reaction? PPS dead.
June 2: The XS crap stops. But low and behold Rothman shows up with a vague PR about a recommendation of considering the offer, but only after this unexplained 10% down payment which is not clear how will work, or if shareholder need to ratify, or can ratify the "recommendation" by the deadline of June 15, which might not start ticking for another at least 5 days after the quote recommendation to shareholder. Wouldn't of letter of available funds be much more simpler and convenient?
Reaction? pps is still dead but a lot of fools pumped up the volume.
Later on June 2: Paid stock promoter PSC is engaged to pump the SNRS buyout deal.
Reaction? Market laughs and obviously questions why in the hell a buyout deal of such a great profit needs to have money spent to promote it. It should speak for itself. Obviously a stupid move by Rothman and a very clear tell of the hand he is holding.
Does that clear up the timeline?
Not so fast dumpkin pumpkin. I posted at length about this earlier. We have no idea what SNRR's board has the authority to do with respect to binding the shareholders to a deal. We need to hear from the company what the charter and articles provide in this respect. This is normally made clear. Like in THRR, it was PRd that the attorneys advised the board there had the authority to accept the offer and all of the shareholders are bound to the deal, your share would be sold no matter what you wanted at the deal price. Now with SNRS, we have no idea and Rothman is being vague about this. He will "recommend to to the shareholders that the offer is fair value and should be considered by the shareholders". WTF does that mean? Will there be a shareholder vote? How can that be done by June 15? Obviously, that would give the suspect buyer the perfect reason to back out, but now, unlike THRR, it would be the shareholders' fault? FOr not voting by June 15? I mean are you really throwing down hard earned money on flimsy crap like this? I guess that's what the CE means so I should just quit blowing the warning horn here.
Hey retiredMm: I agree with most of what you say. But, with respect to thinking scams try to avoid backlash coming at them directly. There is some logic to that, but probably what outweighs that logic is the fact that when the scammers are at the end of their rope, they'll go all in w/o worrying about personal recourse. And you can never really predict when that might occur. Like with SPNG, I wouldn't have thought the principals there would have been ready to go all in. But after months of hopefully believing their crap it all turned out to be lies, then criminal indictments. Now with SNRS, Rothman has diluted the stock so much over the past few years there is no way in hell increasing the AS and OS in any amount would fly. And, since May 26th, every PR that fails to increase the pps seems to be followed by an even more outlandish pr or promo email. My suspicion is that Rothman is at the end of his rope, and last week's buyout announcement was a desperate attempt to raise some walking away cash by pumping and dumping his shares. The scenario has become completely unbelievable at this point, except for the fool want-to-be millionaires here. But a part of me still hopes I get get out of this too.
Brad, I addressed medical applications issues in response to one of Frankie's posts about 9 or 10 pm last night. I think that was my only post last night so should be easy to find. I would invite you to look at that.
Kiosks. Every day I see them in more an more places. The courthouses I frequent finally have them to assist parties in getting to where they need when they need. However, of all the places I've seen them, none of them are by IMJX. They are not getting market share with their purported test markets we've heard about without details for so long. And, a big question I will eventually pursue as an attorney if John doesn't clear up for the shareholders, is why that company ends up the personal property of John? Wasn't that opportunity one belonging to the corporation for which John had a fiduciary duty to protect for us shareholders and not convert to his own gain? This really has been bugging me lately.
Now, on top of getting current with their financials for the OTCBB, I thought the best and biggest news we heard out of IMJX in a long time that looked very promising for a possible pps run, was the advent of FreePintze.com. A great an novel idea which if marketed correctly and intellectually protected could make the originator tons of money. But no business concept patent was applied for, and the announcement was not accompanied by a huge, though costly, market campaign which would left any potential competitors in the dust and established IMJX with the lead in market share of the idea. Now, though they didn't think of it, Kodak, Fuji or even Coke and Pepsi are free to jump on the idea with their limitless supply of name recognition money and profit on IMJX's idea of which it will never reap fruit from. Now this is the worse case scenario, but realistic in light of the very poor business manner this idea was rolled out. I could go on, but if you want to keep talking reality let me know.
Look, I'm long on this as I got in last year too high when I thought this was going to run. But lets keep the conversation real. I told ghv or ghc whoever, to include my share in the the "locked up block". It was fun to pretend that might work. But the reality is I would bail in a second as soon as I could turn a profit. SO will 99% of everyone else.
Now, I thought by getting their financials up to day IMJX might finally make a run last month. But Brad, or Brent I can't remember, you've got to keep it real. John has a history of breaking promises. THe surgi scan software was suppose to be available last February. Then, to my disbelief, he promised again this May. May has come and gone. It will take something really big to get this tho move again, we lost the opp last month. So the reality this rock might move on something big in the future. But take what John promises with a grain of salt, praise his deliveries rather than his promises, that will make it real.
No what I'm saying is use a little logic before you count your profits. If a shareholder vote is needed to agree that 100% of the shares will be tendered to Nourtech, then there is no way that can be done by June 15th. Thus, the shakey middle east company appears to back out of another suspicious deal. Now go back and look at the THRR deal. THis info was PR'd by the company's attorney, that in fact the board could bind the shareholders to a deal. IN this case it doesn't look like SNRS is taking that angle as it plans to make a recommendation to the shareholders, which will in essence mean nothing, zero, zip, other than no deal.
And, all of this hype about XS. I would caution you to go back and look at the record carefully. When Rothman went in hiding after May 27th, all of a sudden these "purported" emails from XS started showing up, but none of them were, and are not now, on XS's website. Look the info the email apparently had access. Then, when all that hype failed to move pps, Rothman shows up a day late today and starts confirming the XS emails? I am trying to be serious with you to throw a little caution to the wind here. If one dime ends up being escrowed (which how does that work?, never seen such a thing) I'll publicly recant and retract some crucial remarks I've made about the believers here.
And yes, I have some money tied up in this, but realize it is probably been conned. I hope that might not be the case, but in all reality that's what I'm thinking. It took me many painful years to immediately be able to recognize my failures. But I was never a fraction as gullible as many of you seem to be.
I'm going to make a serious point here, which implies I am generally sarcastic in my postings. But really, at this point if you entertain that this could be legit at all, then the shareholders need material information from SNRS, Rothman, about the corporation's charter and articles of incorporation. In some buyout situations, some corporations by their charters have the ability to make an agreement binding all the shareholders. I believe that was the situation in THRR. THE officers could accept the offer, and the buyout would happen, and money would end up in your account. SO far, Rothman has played like the shareholders might have to approve the deal on his recommendation. So where are we? Can SNRS bind the shareholders? OR will a sh vote be necessary. THis needs to be answer before you can reasonably speculate on the veracity of the recent PRs.
Pascal well said but simple prediction is more appropriate. Here it goes. Rothman hopes this last ditch effort will cause pps to rocket over the next 5 days. It may or may not, so far the market has bought any of this. Then, when the 10% doesn't show up, Rothman says, hey I was acting DD, demanding a deposit. Nourtech bailed on us. Sorry deal is off. Meanwhile Rothman cashes out his billions of shares before the price drops to .0000. SEC can't find Nourtech, no proof on SNRS. Another scam makes through the market which everyone should have been alerted to. But these few sorry sapps here who want to believe against all reason will scream they are victims and share none blame in the loss of their families' investments.
Big News! SNRS has dodged the SEC suspension lists for another day. I wonder why the SEC is dragging its feet on this? I guess they're not too concerned if you're not claiming you have magic oil cleaner like ACLH did. Oh well, I imagine they'll get Rothman soon and put an end to this ridiculous trading on false hopes by those who need protection from themselves.
Rookie: Forget Google. Check Ihub's ibox out on SNRS. It lists Rothman as the CEO, President, vice president, and treasurer of SNRS. It also lists Rothman as all of officers of USP. THis is a one man show-scam. What you find on Google is old and outdated news. ROthman is the only clown in SNRS and USP.
Frankie, I'm not disagreeing with your assessments of the medial lists market, I'll just give you my take on this. My father and brother are both MDs in the St. Louis metro market. Both graduated at the same med school which is in the top 5 nationwide. Growing up in that environment, and then pursuing a law degree with that background, I've tried to keep a legal check on the med industry. You are correct, all institutions use a list system. But I think that is mostly the protocol list fro every actor's role in procedure. Or, if you're the prep nurse in surgery, you have to do x, y an z, double check it, you're done. That's how protocols have worked, or not, for years. In the pas few years however, they've been studying check lists for medical procedures more in tune like a pilot's fight list check list. I think on hospital even calls it the flight check list. This is relatively new in the industry (5 years studying?). I found it very impressive IMJX is offering a package of software that specifically addresses this new need that is being explored. I, like you, agree they will not own it however, and competition will be tough, as with any general task software. We can only hope fore a good portion of the market share. In that respect, I have posted earlier it is crucial that we get some of the first hospitals to use a check list system to use IMJX's. They all follow the leader in the med industry to avoid malpractice by being the stray dog. That's whey I think if John has they "trial run" statistics he should pr asap with names of users to lock in subsequent users. Failure to do this adequately will doom IMJX's ability to lock in market share. JMHO.
Sorry sapps. Below is all that is listed up to date on SNRS on XS's website. The latest info before this CE info is from May 27th. All the rest of the info everyone keeps copying is from scam emails made to appear they are from XS. Call them and check it out yourself. I guess Rothman knows how to change the "sender" identification in gmail.
Sunrise Consulting Group Inc (SNRS) PDF Print E-mail
Sunrise Consulting Group, Inc. (SNRS) Sunrise Consulting Group, Inc. (SNRS.PK) will be announcing that its 2009 financial statements have been uploaded to PinkSheets and as a result the Company should be upgraded to Limited Information status on PinkSheets within 24-48 hours. In addition, the financials will also be forwarded to the companys legal counsel, who will soon begin the process of compiling an Information and Disclosure Statement. This will be an important and critical step for the company when it decides to get upgraded to Current Information status with PinkSheets..
What we have seen in the last few hours is exactly why the SEC issues trading suspensions. I have never seen such a display of "I want to believe anything" syndrome other than that I have lost money. This is sick. THere is no recourse for XS's lies. SEC has no power over them. There will always be a bunch of believers like we've seen today to buy XS's crap. Hope you didn't invest your family's future on this scam. Check the SEC suspension list first thing tomorrow, odds are SNRS will be at the top of the list.
Let me just tell you how I approached this and got burned trying to flip. First, Wed morning we get the pr about an unsolicited offer, no price, no named buyer. I quickly check IBOX and see that SNRS is one man, Rothman, President, Vice presidnet, tresurer, etc. Also, he is all of the officers of USP. History shows Rothman has been increasing the OS and AS for years funding his life style. So I see this as what it is, 14 \billion can't go anymore, so Rothman must be attempting one last pump and dump to sell some shares. So, I buy in quickly, too quickly, thinking I'll make money on this scam too and flip for a .0001 or .0002 profit. But, Rothman is in too much of a hury, not waiting until June 1, he comes out the same day and announces a pps offer, hoping to move the price up. I had a feeling at this point I was stuck. He tried wed and thurs with more prs, but nothing moved the price. THen he shuts up on Friday and has someone at XS start releasing the info he would want to release to make pps move. Foolish me, I had a glimmer of hope we would see a pr Mon, but didn't happen. That's how I play, and that's how I got burned this time. Key, you have to realize when you've been had.
NEWS!!!! Big!! I just checked the SEC suspension lists for today, and SNRS is not on it, yet! This is huge. Means the deal is on. We are going to be rich with this info out.
Pascal: these guys just can't see when they've been taken. I'll admit, I got caught trying to flip this one. And I knew it right away. On Thursday, SNRS says they've got an offer, no price mentioned, and will let us know details by June 1st. Then when the pps stayed flat, or went down, Rothman comes out and gives us a price a couple hours later, then when that didn't work, what our counteroffer was. I knew then he was trying to dump shares and started blabbering when the market failed to react. But, I got stuck with this worthless crap. Oh well, it happens. But reading these apologies for the company I guess that's why I can keep making money overall. FYI, on MAy 27, XS originally said Rothman would recommend the counteroffer of .004. Now they said ole stern ROthman made it clear nothing below .005. WTF?
You are right, I got it to come up now. But here is all it has to say about SNRS:
Sunrise Consulting Group, Inc. (SNRS) Sunrise Consulting Group, Inc. (SNRS.PK) will be announcing that its 2009 financial statements have been uploaded to PinkSheets and as a result the Company should be upgraded to Limited Information status on PinkSheets within 24-48 hours. In addition, the financials will also be forwarded to the companys legal counsel, who will soon begin the process of compiling an Information and Disclosure Statement. This will be an important and critical step for the company when it decides to get upgraded to Current Information status with PinkSheets..
___________________________________________________________________
Funny how nothing about the buyout is mentioned.
I'm not trying anything, just realizing I probably tried to play something I knew was a scam and got stuck. FYI, go back and look at XS's May 27th report, they said Rothman would recommend the .004 to all shareholders. Well, how did it go from that, to "Rothman said .005 is the final, and then a deal at .005? All the while not a word from SNRS, or PSC for that matter. Remember, PSC started preaching this two weeks ago and then mysteriously got silent after the so called offer by Nourtech was made. Look, I hope I'm wrong, but it's not the the of the world for me like is apparently for a lot of newbies here.
I posted earlier that I've been trying to get xs website since early this morning. It's not there anymore. I hate to admit it but I got caught trying to flip a scam. I knew it was crap when I bought in but I didn't think Rothman with respond to a failure in pps to explode so quickly. Oh well, you have to lose some sometimes. I would imagine the SEC will suspend trading tomorrow morning since Rothman is probably hiding out somewhere unavailable for questions.
Well, this shouldn't come as a surprise, but it will to the pumpers, but I've been trying to get on xplosivestocks.com website since 6:00 am (CST) and it appears to be down. Funny, the one that got all of these inexperienced newbies so excited about the deal cannot now be reached.
Before you trade the cow for magic beans you might want to recall XS's earlier PR about SNRS below. They first said that Rothman told them that he would recommend acceptance of the.004 offer. Now, over the weekend apparently, they said Nour told them that Rothman made it clear that .005 was it, and so they took it. I'm not saying either way, but you guys really need to think about what you believe short of a company PR by the company, and then even question those prs..
(EMAILWIRE.COM, May 27, 2010 ) New York, NY - Xplosivestocks.com, a company that offers a wide variety of services to both investors and public companies, reports today that SunRise Consulting Group has received a counter offer of .004 per share and the company's CEO Alan Rothman will be calling a board of directors meeting tomorrow to discuss the offer.
Sunrise Consulting Group, Inc. (SNRS)
Sunrise Consulting Group, Inc. announced today it has received a counter offer of .004 per share and the company's CEO Alan Rothman will be calling a board of directors meeting tomorrow to discuss the offer.
XS believes very strongly that SNRS will accept the offer of $0.004. XS has contacted SunRise Consulting Group and spoke to Mr. Rothman. Mr. Rothmaan informed us that he will recommend to the board that they should accept offer. SunRise Consulting Group will inform shareholders no later than June 1, 2010.
Look, I don't claim to know what will happen, but I'll guarandamntee you the sec will inquire of snrs who the potential buyer is and whether or not it is a legit offer. Bogus offers are near the top of the list in trader fraud. That's exactly why Pinksheets put the CE on, volume got too big based on current info. So, hopefully snrs will answer the sec and not find itself in the same condition aclh is now in.
I'll bet that SNRS had to prove itself to sec by Tuesday morning or it will be suspended. So if you check the suspension list early Tuesday and SNRS is not on it, then game is on.
For all you newbies who keep hearing the warnings about THRR, well the sec looked into that, it was legit, buyer Senergy. The crybabies in that deal once it fell apart, were the ones who bought too high and didn't flip thinking they'd get .01 for a .0003 stock. That's why they are all so pissed.
I finally got some info from a friend in CA, but take it with a grain of salt as he likes to play bigshot know it all. First this Nourtech rumor is somewhat verifiable. The follwoing link shows something http://gethotstockpicks.com/category/stock-newsletters/xplosivestocks/
The story is not on xplosivestocks.com, but it is on gethotstockpicks.com posted by XS. Weird?
But anyway, Apparently After the .004 counter was made to our .005, SNRS began trying to make conditions of the .004 deal that were primarily benefit the officers. Nourtech then said f it, we'll just give them what they wanted us to offer, ie. .0005. That is why the Nourtech article says SNRS has to close the deal now because they got what they offered.
I hope all of this is true. It will make Tuesday an exciting day.
Just shy of a billion shares in 35 minutes mostly at .0002. And, some of the bashers here are already bragging about picking some up at .0002. It is amazing what some will believe in theses posts.
Schedule 13D is commonly referred to as a “beneficial ownership report.” The term "beneficial owner" is defined under SEC rules. It includes any person who directly or indirectly shares voting power or investment power (the power to sell the security).
When a person or group of persons acquires beneficial ownership of more than 5% of a voting class of a company’s equity securities registered under Section 12 of the Securities Exchange Act of 1934, they are required to file a Schedule 13D with the SEC. (Depending upon the facts and circumstances, the person or group of persons may be eligible to file the more abbreviated Schedule 13G in lieu of Schedule 13D.)
Schedule 13D reports the acquisition and other information within ten days after the purchase. The schedule is filed with the SEC and is provided to the company that issued the securities and each exchange where the security is traded. Any material changes in the facts contained in the schedule require a prompt amendment. The schedule is often filed in connection with a tender offer.
Does anyone know what the all time record in volume is for one day? If this thing plays out we just could be in record territory.
Please stop this ridiculous banter about companies secretly buying up shares before a takeover. See below.
A Schedule 13D must be filed any time a person, company or group has bought 5 percent or more of a company’s shares, or sold enough stock for its stake to fall below 5 percent. It must be filed within 10 days of the transaction. (A large shareholder who doesn’t intend to take any meaningful action can file the short form, 13G.) A group that collectively holds 5 percent or more of a company must also disclose its stake, even if no one member exceeds that threshold. In that case, the Schedule 13D will include the names of all associated investors with voting power or the ability to sell shares.
How could a statement like that possibly jeopardize the company's position?
SPNG made the exact PR after suspension. Turns out they were submitted false documents to the SEC as part of the "cooperation". A statement like that becomes another count to the indictment as investors relied on it to make a decision on investing. Crooks usually PR quickly denying allegations, while the honest ones take the advice of their attorneys and STFU.
Have you noticed that since the leak, gas prices have stayed the same or even gone down, in May when historically gas jumps 20% as we move into the summer vacation season. BP and the others must have thought the public wouldn't tolerate a price jump in the middle of an oil spill disaster. Watch, if they get this leak plugged prices will start climbing the next day.
These posts are almost too silly to respond to but since no one seems to I will. You cannot secretly accumulate shares of a company to take it over. Once you reach 5 percent of the OS you have to file a statement with the SEC and tell what your intent is, ie, takeover, investment .... If you fail to it constitutes fraud.
If you file your intent as "takeover" then the pps skyrockets. So you almost always see a formal offer for takeover. And, almost all takeovers offer a premium on current pps. I remember when NBEV bought AB, their offer was $75.00, and the share price stayed at $65.00 for several days before the deal was final. I never did figure that one out and wish I would have followed my gut and bought at 65.
This has the fingerprints of Senergy all over it. Senergy is an Israeli (middle east) privately held company. Last month they tried to buy THRR to move into the American market. They also offered to buy 100% of THRR's o/s so they come out of the deal as a private company. Something got funky with that deal, but it was a real deal because I'm sure the SEC called them out on it after the smoke cleared. What is sounded like to me was THRR got cold feet because they said THRR didn't answer their DD questions, like why the hell would THRR care about DD when it was getting an outrageous profit for its shares. But in any event, it looks like Senergy has its eyes on SNRS, probably maybe?