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Bids building here, looks good eom
lol 53...
looking real good, patience pays
all the best
stocksabl...
thats the beauty of the low o/s and float here :)
1 dollar magic :) eom
SEAB has no ask now...nothing eom
yea
the ask is so apread out now prolly not many that would go off below .20, but I would like it to trade down below .20 and then "recover"... would be very good tech speaking...
p
the BK was dismissed just a couple weeks ago...
one thing is for sure, something is up as the corp was brought active all the sudden last week...
then someone is trying to buy the float up starting last Friday...
can you imagine if Resilience has a large client that wants this former NYSE shell ?
This was not normal buying that has taken place the last few days, someone knows what is going on..
p..
no one has noticed the other party listed on the BK that was an advisor..
Resilience Captial Partners is shown as being approved by the court to advise:
http://img179.imageshack.us/my.php?image=gwowcourt1ds6.jpg
The dont do small deals.. 25-250 million per their website.. they specialize in turnarounds and chapter 11 matters.. now why would they be appointed to advise so late in the BK when all the assets were sold back years ago ?
http://www.resiliencecapital.com/philisophy2.html
This is speculation, but I am wondering if they have a private company that needs a public shell...
penny
UBSS and HDSN moved to .51
No selling to speak of, trades very nice..
Blue
checked this one out, its being accumulated for good reason..
Leigh
Thank you for making the call to the TA and posting the update, hours away from print now...
Adding here eom
life
Doubt if there is more than nominal short interest here, it is fairly certain there were shorts when it traded on the NYSE and went straight down when they filed BK years ago.
But, shorts would have covered long before now... imo
One thing for certain, the float is gone now... its crystal clear.. there was a wall at .15 that fell today on less than 30 k... then a wall at .20 that fell apart on less than 20k..
I wasn't around much today since I had my aunt to the dr's office - but it must have been interesting to watch the mm's scramble like they did... NITE moved its ask up above 2.00 at one point... unreal..
life
As I pointed out in the Ibox, that company is Genesis Worldwide 2 which purchased the assets out of the shell we are currently discussing here.
The firm that bought it has done very well and has sold it. That company has nothing to do with this issue here.
At one time GW was a huge firm..
That is why MMO/GWOW was over $9 per share when it traded on the NYSE under the symbol MMO before the bankruptcy, it was quite a large company.
It's one in a few thousand to have an old former NYSE shell like we have here with GWOW... that is why the o/s and the float is so attractive and can deliver great share prices... as we are starting to see here...
penny
market cap at bell close of .22 = only $814,000
any private co merging into this will create at least a 4-6 m market cap, possibly much higher....
3 m market cap = .81 share price
4 m market cap = 1.08 share price
5 m market cap = 1.35 share price
6 m market cap = 1.62 share price
a 6 million market cap these days is considered very small
GWOW
check out the golden cross today 50/200 ma
http://www.profitspi.com/stock-chart.aspx?id=GWOW&ca=298490851
bee
its great to see some of the same faces here from months and months ago !!
Had an idea of what we had in January, but it takes time and patience...
This is a low float monster and folks are just not giving up their shares... beautiful
penny
thought this would make you smile...
the float is gone here... the mm's were scrambling today to run from the ask..
steady buying all afternoon from what i could see, not much available at each price level...
GWOW chart
Volume confirmation today again, heavy accumulation... this goes way over a dollar or two with merger... this afternoon, NITE moved ask to over $2.00... see my earlier level 2 post from this afternoon for confirmation..
CSBR
Goodness gracious
Just keep it in a drawer for the kids :)
CSBR What a great day again folks, this one just keeps on ticking, hasn't even started yet imo
life
Always thought this was worth between $1-$2 with any merger, this has the lowest float and o/s of any shell that I know.
Someone was buying with vigor starting last Friday, they must have a deal or that volume would not have come out of nowhere, more importantly it climbed right back after a bit of selling on Monday... its obviously under serious accumulation for good reason..
The corp was brought up to date in recent days and the BK was dismissed... something is def up...
Have a good evening
Just back in office: GWOW, now folks I don't get excited very often, but take a look at the level 2 ask...
When any merger announcement is made, this will scream up way over a dollar, possible much higher with the under 4 m o/s and the low 5-600 k float...
life
The easiest way to look at it:
Dismissed from the supervision of the court.
You are on your own and can make decisions affecting the business without the approval of the court.
MrBig
They made on thier promise to the IVOI shareholders to spin off a company, perhaps they will keep thier word to the IVOT holders on the Tropical Screen merger as well.
There has been pressure on them to say something, I know that for sure lol.
yw stoc
this one will suprise many
Sent update on GSIEF & GWOW to all subscribers eom
Merry
Watch it trade now, there were many that got out in the run on Friday, its trades just like it should for a 5-600 k float.
Many held it for months, waiting to sell, they did, that buying did not come into it on Friday without reason. It held its gains on Friday unlike previous spikes.
Yesterday it fell on very light volume, bids firmed and asks go spread out. Example, 5 k trade just took out .05 this morning and now best ask is .07, only one tick below its high on Friday.
You will see why somebody was agressively buying when you read my update to the Ibox
Thanks.
dtstx
No, It is not a figment of your imagination.
When the numbers were originally stated and projected, gross funding was being used as revenue-they will not be accounting it that way.
There is no need to employ gross funding numbers except to help us estimate what finally becomes GSI revenue.
The best way to estimate income to GSI is to estimate as follows:
No less than 3% of total amount funded and securitized for the direct hospital fundings illustrated in example 1.
No less than 1.7% of the total amount securitized for the "patient pay" receivables illustrated in example 2.
No less than 6% of total amount securitized for clinic/MRI receivables funded as a result of the GSI/Medicredit joint venture as illustrated in example 3.
This is all important, but what is really attractive here is that the management will be treating every dollar responsibly so more will go to GSI bottom line...
GSIEF comment
In previous discussions the revenues possible for GSI have always been finally determined by what would appear as GSI revenue as a result of funded receivable packages.
(Revenue is income to GSI from the funding packages and before any expenses incurred by GSI itself.)
GSI has very modest internal expenses compared to most public companies, they have expenses of course - but keep in mind that there are minimal sales and office expenses relatively. As the company grows, the internal expenses will grow, but not without the corresponding increase in revenue that would result from increased marketing/office costs.
As a general rule, GSI puts 3% minimum to top line revenue for every dollar funded.
There are three types of funding to consider:
1. Ongoing receivable securitization for hospital facility: GSI funds all receivables under a three year agreement. The funding is carried out every quarter in "traunches".
Example: 120 million receivable funding needed by hospital facility;
GSI commits to fund 100 million m/l to accomodate risk present and adjust to uncollectible accounts within the subject package. The facility receives 25 million each quarter.
In this example, GSI receives at least 3% of each funded traunch. Under this agreement GSI top line revenue is 3 million dollars minimum in each year of the subject agreement.
If more than 100 million is collected,GSI/Processor/Funder/Hospital splits the amount collected over and above the 100m, this is additional income.
2. Facility has patient pay accounts that they wish to have securitized. These are accounts that are left over after the hospital/clinic has done insurance claim billing and attempted to collect from patient.
Example: Facility has two years of patient payments due that total 100 million. This is money due from patients after all insurance has been billed. This is called "Patient Pay" in the industry.
GSI commits 2 million to securitize the accounts, this is done in one package, not quarterly traunching.
GSI contracts with outside billing/collection firm and splits dollars collected 1/3-1/3-1/3 with funder/collector.
GSI top line receives 500k-800k at closing and then 1/3 of all dollars collected over the funded amount of 2 million.
Micro example: After 2 million(2%)is collected from the 100 million total, all dollars are split 3 ways. If 6 million is collected in the first year after securitization, the extra 4 million is split 3 ways. In this example, GSI received 500-800 k up front, then 1/3 of 4 million the first year.
Conclusion:
Total to GSI first year using low end 500k upfront fee: 1.7 million, or about 1.7 percent of the 100 million securitized. Keep in mind that is is very likely that more than 6% will be collected from the 100 million package. These are conservative numbers that are being presented and much more revenue may be realized from the huge receivable base. The collection firm/biller has incentive to perform as you can see.
3. GSI closes contract under their joint venture (JV) agreement with MediCredit.
GSI and Medicredit are 50/50 partners in the arrangement.
Medicredit provides clients and marketing, GSI provides processor and funding.
These accounts are smaller per client dollarwise, but there are more of them out there.
Example: Medicredit brings MRI clinic to GSI, MRI does 10 million/year.
GSI/funder traunches 5 million for 10 million securitized receivables per year to MRI. GSI/Processor does all insurance claims billing/negotiations.
GSI receives 3% of original funded amount, plus a part (around 25%) of all amounts finally collected between the 5 million and 10 million.
In this example GSI receives 150k up front, then 1/3 of all collections over and above the funded amount. It is my understanding that a 6-8 % overall number back to GSI is reasonable to expect on these accounts. In this example, GSI would eventually end up with 600-800k on this one 10 m client MRI example.
I am not going to get into discussion of forward looking pe's or how they may be applied to eps and the like.
The number presented are reasonable and gives one an idea of what is possible here in this business.
These folks are not big spenders, they have proven time and time again that they consider every move carefully. (recall the decision not to enter the otcbb shell as it had strings, was much more expensive - and required shareholders to give up an unacceptable percent of the company)
This is what will finally make this issue a huge success, significant revenues derived from each client, and mindful-responsible management.
H
yea this ole cowboy and his posse have some bruises of late.
Hope you and yours are well.
life
I still own STBP from months back, this GWOW has only about a tenth of the shares outstanding when compared. 3.7 m -vs- 34.3 m.
Wang said it best in a post from awhile back, the GWOW share structure is so attractive you could put a candy store in it and its still worth alot lol.
These shells under control of the courts can be great.
The trustee/receiver/committee are legally required to perform and find the best situation for the common shareholders that remain. No games can be played like in some of the other shells.
Its the law, not to mention their fiduciary responsibility to find the best value.
born2
GWOW is the shell, the remaining shell that exists after the assets were sold out of it years ago when the company had financial problems.
Very attractive shell with unreal low share structure, less than 4 m o/s and only about 500 k or so in the float.
I don't recall another shell with that kind of appealing share structure, this shell does not have the r/s worries that many are saddled with.
life
The creditors committee that oversaw the BK is responsible for the final dispositon of the shell.
We know this for sure too, several were looking the shell at a few months ago according to the committee attorney.
GSIEF + 42%
Great day folks, seems some impatient folks got out earlier in week, long time posters here bought more of the float and it is in strong hands.
Moves real easy now huh ?
Congrats
GWOW chart
Been awhile since I have seen a candle like that with volume confirmation.
GWOW Level 2 @ close
Note that SEAB never even had a chance to open a quote this afternoon..
Buys started at 12:53 pm EDT, buys at ask outnumbered sells 20-1 minumum. Sure moves easy with the 500 k float.
life:
you asked:
your post in ibox referred to a dismissal of chap 11--did you mean they'll soon emerge from chap 11?
response:
The Chapter 11 was all but complete, meaning dismissed and finished. There is no to business to emerge with, just the shell remains.
The only remaining issue was what to do with the shell to bring value back to the common shareholders who lost out in the asset sale way back 6-7 years ago.
All of the debts that were in the shell from the original company are well past the statute of limitations. This means that there are no skeletons to worry about for the merging company.
This shell has such an attractive share structure that I knew some private firm would eventually pick it up.
The last time I actually spoke to the creditors committee manager, he told me they had several interested in the shell.
He was mum about what happened to the shares that National City Bank transferred, so I figured something was up.
National City Bank had those shares for years and years, then suddenly they transfer them as per SEC filings back earlier this year.
GWOW refresher post from May 2007:
Posted by: investwise4858
In reply to: None Date:5/18/2007 11:11:31 PM
Post #of 263
If this one gets any vol/news, whatever, this could easily run to $1.00 or more imo.
I have a call in again to cred. committee legal counsel to get an update, but have not heard back as yet.
One must remember that the BK court and the cred commit are bound by ethics (and the law in some respects) and may only accept qualified, financially sound merger candidates. So when they do find one, it will be a viable operation that will have had its finances and personnel authenticated.
With such a low float (about 500k) a r/m announcement would send this up violently. If one looks at the chart when volume hit this just a while ago, you can see that it moved intra-day to .09 on a simple substantial increase in volume from the previous session.
It is obvious that profit taking, (the previous day traded a huge amount as mentioned) and some obvious day trading exercises capped the gain that day. Had buy order flow continued just a while longer that day, this would have easily traded to .20 or above during that session. Refer to chart.
It would seem that the merging co. would probably wish to forward split this issue to create some increased liquidity. That would be very attractive to existing shareholders as well.
National City Bank is not going to call me back, I spoke with my counsel about this, he told me that they would never disclose to whom those shares were transfered/sold. That explains why the National City attorneys have not contacted me with the requested information.
Interestingly, the cred comm legal counsel also would not disclose to me who received the subject shares in SEC filing (5% of GWOW o/s) from National City Bank.
To me, that is the best indicator here that something is going on in the background, National City Bank owned those shares for years and years, then suddenly disposed of them and filed a disclosure statement to the SEC in early 2007. (see SEC filings for verification). They sold/transfered the shares long after the majority of the bankruptcy proceeding was finished, Why ?, when the cred comm legal counsel told me that 99% of the BK case was finished 2-3 years ago.
I can tell you this, I am going to hold mine until we hear something, any merger would send this over a dollar at minimum with the miniscule float and the low o/s of 3.7 million.
Depending on who the merger partner is, possibly much higher.
Its worth the risk.
GWOW
Posted a few months ago that the receiver had more than nominal interest in the shell, and that National City had sold their 5% interest in a private off market transaction late in 2006.
It's obvious something is up, great thing about this one is that no reverse coming, the o/s is below 4 m and float is 500 k or so (estimate).
If anything they will need to forward split it to get some liquidity in the issue.
See my post from a few months ago that comments on the issue.
Congrats to all who accumulated and held this one.