LUXD in negotiations for Reverse Merger:
“As of July 8, 2011 LUX DIGITAL PICTURES, INC is in active negations with a party to do a reverse merger which will result in a change of control of the Company with a new, different and considerably larger business being vended into the Company”
LUXD recap From latest 10Q:
The Company is engaged in negotiations to do a reverse merger with a larger Company operating in a different field. If successfully completed the transaction would create greater liquidity for the new Company. The Company has no current off balance sheet arrangements and no agreements with its shareholders, officer or director to provide funds for operations in the future. LUXD making a merger with a largercompany=Big Money
Let's say they merge in a $30 million dollar company. A company whose business can support a $30 million dollar market cap.
20% of $30 million, is $6 million
51 million shares O/S in LUXD shell, $6 million dollars equals 20% of 30m, which gets me close to 12 cents per share.
They merge in a $60 million dollar beast of a company and get 20% of combined companies then you get closer to 25 cents per share.
Investors on board
There are recent new shareholders in this company, Just 4 investors make a total of 4.5 million shares(approx) holding tight. The rest of the investors lets say 10 could be carrying 100,000 to 300,000. Lets take the average and say 2 million shares(conservative guess). Amount of shares owned is 6.5 million shares. This is only speaking of ihub.
Lets say another 4 million shares is owned outside of ihub, this equals to 10.5 million shares owned. The float may be approx. 18-19 million. Investors are looking for a mega move so they will not sell cheap. Any momo or news can get this to 0.20+.
Chart:
Golden cross appears to be coming. Bollinger bands are starting to get tighter. People still accumalating. Chart is a go time!!
http://www.ddmachine.com/ Type in LUXD..Go to 6 month chart
Rec'd a response from the company
Guys good news just heard back from the company 10K will come out end of November they can not discuss the ongoing talks but it seems like they are still in negotiations. GO LUXD really good news!!
Convertible debt paid off ($60,000) through stocks is over or just about over meaning company is debt free which is a sign they are very close to a reverse merger with a larger company stated in their filing. Larger company means BIG MONEY=HIGH RETURNS
LUXD is going to be a MEGA MOVER!!!!