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I'm ready I'm ready I'm ready to rocck and rollllll.....weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee NHYT
I actually remember it coming from several peoples mouth...in fact when wanting to get more clarification I asked Mr. King to call me and he reiterated in order to remove the notes which is where the company was getting hurt along with that interest, they were going to issue common stock and allow those people to sell into the open market to recover their money. Doing so would currently dilute the market. Therefore, when he said the common we held in our hands then was worth jack **** he was exactly correct. Hence, doing the R/S to wipe out all of those shares and not allowing any possibility of dilution after post-split and up-listing.
For clarification here, if you were on the the CC's, you would have heard that they never said doing an R/S was out of the question. In fact there were many questions addressed specifically to how they were going to achieve them and not once did they say they weren't going to do an R/S. I remember them saying a R/S will be needed after issuing common stock to those with notes in order to prevent dilution into the marketplace post-split.
Shares of Series E Preferred Stock may not be converted into shares of common stock for a period of: (a) six (6) months after purchase, if the Company voluntarily or involuntarily files public reports pursuant to Section 12 or 15 of the Securities Exchange Act of 1934; or (b) twelve (12) months if the Company does not file such public reports.
Shares of Series F Preferred Stock may not be converted into shares of common stock for a period of: a) six (6) months after purchase, if the Company voluntarily or involuntarily files public reports pursuant to Section 12 or 15 of the Securities Exchange Act of 1934; or b) twelve (12) months if the Company does not file such public reports.
Shares of Series G Preferred Stock may not be converted into shares of common stock for a period of: (a) six (6) months after purchase, if the Company voluntarily or involuntarily files public reports pursuant to Section 12 or 15 of the Securities Exchange Act of 1934; or 9b) twelve (12) months if the Company does not file such public reports.
Pressure building for sure...things looking great....Figured the morning dip would only last for a bit....we need to break the 1.58 ask which is where we need big buyers coming in....we break that and we run. I expect FNMA to book some nice profits.
Man, the day we see that...I'm going to go streak through SF.
I see some major green in the neeeeeeeeeeeeeeeeeeeeeeeeeear, I think today buy this, future. The ask has really thinned out after yesterdays afternoon buy session.
Sup fellas. Hoping today is the day!
Yup it was a pretty amazing recovery!!!
Praying for the 8K tomorrow.
Truth be told, I have "never" really liked him because of some of his views, how he relates everything to himself and makes it personal about something in his life plus other stuff. Obviously I respect him somewhat for attempting to do what no one has done....has it been extremely difficult? Yes. Have there been better ways to do some of the stuff he wants....by all means. At the end of the day....He is doing WHAT IS RIGHT for everyone in this situation which is essentially returning the company back to the shareholders. With less government control, the company can prosper and who knows maybe even like AIG we'll start receiving a dividend for those who hold this very long term. I took what he said early as basically taking an axe to both companies....A, there was no way that would ever happen without massive lawsuits and major issues. B, What would happen to all those guaranteed?
Now the real questions is, does he follow through with what he says without changing stuff around....who knows.
At this point in time, I was just happy to hear that privatization to some point will be happening because that is what these companies need. I believe we will increase in price tomorrow...glad i grabbed some 1.57s today.
This is exactly what I wanted to hear "LESS GOVERNMENT CONTROL"
As much as I hate Obama, this is the right thing to do and what any president should have done.
Let me remind you.....How many things has he said that he would do, haven't been done?
About 99.99999999% of them
FNMA and FMCC will never become shuttered....they are too profitable and if doing what he says he thinks will help the market...god help us all...hes killing this country and this economy more then ever.
Were in a depression but lets tax people more so they have less to spend and less to boost the economy...hey now that sounds like a great idea. Let's also give things for free....even better!
Joke of president.
It will never pass....Bush tried to do the same thing. Now FMCC and FNMA are making more money then ever on safer investements. He is an idiot and should never have been elected...He is not even an American.
How the hell does immigration tie into what is supposed to be talked about....I love how he makes every conference that he talks at about his whole general idea....joke of a president.
Deficit decreasing the fastest in 60 years? Best cars made in America? Very interesting. I thought we were talking about the FNMA and FMCC and How to fix the housing economy so that we don't have issues like a major crash before even though it was all because of leveraged assets, sub prime mortgages and people borrowing on much more then they could afford.
Trust me, I'm holding on with a tight grip....added this morning 1.57s.
IMO I think we break the HOD in this afternoon trading...we've been trading in the channel for since the open. FNMA and FMCC will never get shutdown and even if they try to it would take years and years just to even get it started. This company is making more profit than it ever did, why would you mess with it now....?
I'm with you buddy....let the funnnnnnnn begin!
Ladies and gentlemen, Let's gettttttt readyyyyyyyyy to rummmmmmmmmmmmmbllllllllllllllllllllllllllllllllllllllllllllllllllle!!
I've got more confidence with this than anything....not worried a single bit. I got my preferreds.....I got my commons....everything is coming together...next week I believe the Q comes out and then imo the filing for the registration will be released and will be just dandy. I am excited.
Looking much better....since ETRF got taken out the ask is super thin all the way up with 4 mms sitting on .047 with only 70K shares. Pretty obvious we can defintely close green if we want.
Couldn't agree with this more.
Now that's a beautiful quote! There is no way they can shutter FNMA and FMCC because if they did like everyone is saying then they would have had do the same with the banks....Unemployment will skyrocket and who is going to guarantee the loans and mortgages...no one....there is no way they can close these...what they need to do is let it be free like AIG where AIG is now trading at 40 dollars a share and finally just pushed its first dividend in years. No longer has any government obligations.
The government these days is trying to control to much. There is way to much control and regardless of what is right, they do what they want because they think it is best. OBama has done nothing but hurt hurt this country more....REAL unemployment is still sky high and yes we are slowly recovering, but shuttering FMCC and FNMA when they are generating more money then ever before and taking less risky stances is simply the wrong answer. Bush tried to close FMCC and FNMA and it failed.
It doesn't depend on the market because it underwritten if you pull up recent SPO, just like an IPOD their is a offering price. That is the price at which the shares are being offered hence where our shares come in. If there's lots of interest the price can be raised. With an offering price, the price is set.
Nobody can sell....even the common shares are restricted....there still are freely traded shares in the marketplace. Those who have shares after Post-Split can still sell, people can also buy shares right now and sell those shares. NOONE can convert any shares...It is impossible due to restrictions. If people were selling you would see millions of shares being traded but there are only approximately 14K shares outstanding here.
Nobody can sell unless they have shares post split or they bought after the split and are now selling. Either way the price doesn't matter because of how a SPO works...the offering is the price at which the shares are being sold for hence why we are guaranteed at 2.50 a share minimum.
The one thing I will say is I am glad your willing to change your opinion when this does happen. To many people believe it won't happen and will not give it the benefit of the doubt. I am also looking forward to this happening. We will all benefit greatly and I look forward to everyone benefiting and making money in a company that has so much going for it. GLTA
Contrary to what you think, maybe their filing the S-1 once the Q is released. Maybe they decided it was better to have an even nicer balance sheet on the Q....I have talked to many people and these scenario's as there called, are in no way implausible. These are all possibilities. CDFT will up-list, will pay dividends....will as of the current Q have ALL requirements met to up-list. That is my opinion. I think they decided to wait to file until the next Q was filed. If I remember the Q is filed on the 15th. So IMO I think we will see something major then. Based on everything the company has told us and everything they have done...which they have followed through with....I can't wait for the future. I am fully confident. You are free to state your opinion and we all welcome any arguments, but the belief that this company will not up-list and does not have the necessary requirements is indeed false. Based on all my conversations and emails between Jay and others, I am fully confident in that fact. I think your opinion will change soon. GLTA CDFT will win the hearts of many when they realize what is happening is simply no joke.
Exactly!!! Beautiful article. Nicely done BottomTurn!!
See that is also the benefit of owning preferreds. The fact that you get quarterly dividends, the first of which if I remember correctly is to be disbursed in October!!!!!
Wait a second.....doesn't it take time for an S-1 to be filed....a lawyer has been retained...shares are trading but regardless it doesn't matter because during an SPO there is an offering price (see SPO) the underwriter guarantees. How do you know an underwriter hasn't been hired. If I were them I would have secured one beforehand and would now just be waiting for the filings to come through. I think all is well here.
I see buying. To me everyone is holding and waiting for news. I expect news this week. My guess is it will be big news and bug money will come in IMO.
Agreed, lack of selling indicates positive outlook and belief.
Things looking great here. Chart looks great and is ready for the next major leg up imo.
What's up Spark....I think once the news starts flowing....dime is an easy target imo....based on the EPOXY facebook it looks like Dave is hard at work getting companies signed up to use the app.
Things looking good here....definitely expecting something big here this week imo.
Actually you are incorrect:
MindlessSelf Member Profile MindlessSelf
Monday, August 05, 2013 9:55:45 AM
Re: None
Post # of 27408
I have some observations with regards to what I found on investopedia on the broker dealer relationship:
One method would gaurantee all of our shares will be sold at once up front BEFORE the SPO (hence go with the broker dealer). The best efforts method does not gaurantee how much capital will be raised but takes the pressure off the the BD (I am assuming this will be the method taken)
According to this process below, an agreement is made with the broker dealer PRIOR to filing a registration. This would lead me to believe that if the attorney has been selected to prepare the registration, the broker dealer must already be selected because the terms need to be in place in order to file the registration. If the BD has not been selected yet, it should literally be any day at this point.
Once the registration application is submitted we enter the cooling off period where the red herring is executed. The BD and CDFT will start to hype the company!!
The company and the investment bank will first meet to negotiate the deal. Items usually discussed include the amount of money a company will raise, the type of securities to be issued and all the details in the underwriting agreement. The deal can be structured in a variety of ways. For example, in a firm commitment, the underwriter guarantees that a certain amount will be raised by buying the entire offer and then reselling to the public. In a best efforts agreement, however, the underwriter sells securities for the company but doesn't guarantee the amount raised. Also, investment banks are hesitant to shoulder all the risk of an offering. Instead, they form a syndicate of underwriters. One underwriter leads the syndicate and the others sell a part of the issue.
Once all sides agree to a deal, the investment bank puts together a registration statement to be filed with the SEC. This document contains information about the offering as well as company info such as financial statements, management background, any legal problems, where the money is to be used and insider holdings. The SEC then requires a cooling off period, in which they investigate and make sure all material information has been disclosed. Once the SEC approves the offering, a date (the effective date) is set when the stock will be offered to the public.
During the cooling off period the underwriter puts together what is known as the red herring. This is an initial prospectus containing all the information about the company except for the offer price and the effective date, which aren't known at that time. With the red herring in hand, the underwriter and company attempt to hype and build up interest for the issue. They go on a road show - also known as the "dog and pony show" - where the big institutional investors are courted.
No preferred shareholder has been allowed to sell...there are share outstanding in the company and there is still available shares that can be traded but that price doesn't matter. Look up SPO. Read some of the research on the board. There is a restriction on preferred shares and on the common shares and it is impossible to trade those shares plus, there isn't enought shares for a preferred shareholder to trade.
No there not. Not trying to shake out anyone. I'm telling it how it is. You should learn how read income statements, balance sheets and cash flows and you would learn the real truth. Regardless of the matters. Even being off a few hundred dollars is a significant issue. But you loyal investors fall in love with the company and that's fine. To each their own. Good luck. I will never invest here. I would waste my money on one share. I'm done talking here. Was only trying to show the truth but its obvious those who don't want to see it turn there was from the truth. Like I said good luck.
Think whatever you want. I know what I'm talking about. Good luck.
Actually it does. I've voiced my opinion on this but the cash on hand is really not the biggest problem...You have a company that has inaccurate reporting issues as well as suspicious expenses ie double counting internet and others. I'm not going to waste any more of my time arguing after I have shown everybody the problems here. So good luck and hopefully you make money.
Yes actually I do. Why do you feel like you need an attorney? Do you feel like something is wrong here? I sure don't, but would love to hear your story/opinion?
Thanks