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2 BIB's took us to .03 in April. This is nuts.
I hope so too. Someone may indeed have made up their mind to sell a large holding and was just waiting to sell into news and strength.
What I do not get is the large trades at the bid of .013 with the number of shares on the bid not changing. Also, Who would sell millions of shares at .014 when this news hit. Must have not been signed up for the alerts.
et tu abrutis?
The 21 year bottle of Balvenie purchased for celebration is about 4 years older now. Already smoked the cigars.
BOB, good one.
It appears Sky Station International is loaded with some interesting patents - a low thrust ion engine, (produces Ozone gas) :
http://www.google.com/patents/US6145298?dq=inassignee:%22Sky+Station+International,+Inc.%22&hl=en&sa=X&ei=Jdj6Ua-xHtDDiwKct4GYCQ&ved=0CG4Q6AEwCA
http://www.google.com/search?tbo=p&tbm=pts&hl=en&q=inassignee:%22Sky+Station+International,+Inc.%22
Every long here would agree with that!! If the company pops up with another contract, even small, those odds would increase one would think.
Pagan, your inflections and tone of voice would be enlightening with the biting sarcasm. Are you just having fun with a board poster, (in which case - LOL), or are you drawing board blood?
Mide, in entering into the agreement I can see them bringing up the past history of LCJ and counsel responding that if they try the same there will be legal and financial repercussions. The point is that they did not have to walk into that agreement blind, it is quite possible they knew what they were doing and did do DD.
WSGI may have known all along and were confident in how to deal with it when the time came.
Will La Jolla Cove continue to short WSGI after this lawsuit?
If not, the question with the elusive answer is where does the SP go as a result?
Great to see this concept getting backing and moving forward.
Hope their tether doesn't break.
World Surveillance Group and Lighter Than Air Systems Deliver Second Blimp in a Box Aerostat System to Department of Defense
BiB Systems Delivered to U.S. Army Garrison, Fort Polk, LA
KENNEDY SPACE CENTER, FL -- (Marketwired) -- 05/01/13 -- World Surveillance Group Inc. (OTCQB: WSGI), a developer of lighter-than-air aerostats and unmanned aerial vehicles ("UAS"), today announced that, with the support of its wholly owned subsidiary Lighter Than Air Systems Corp. ("LTAS"), the operational team has delivered the second Blimp in a Box™ ("BiB") aerostat system to the U.S. Department of Defense ("DoD"). The delivery included not only demonstrations and testing of the BiB but also additional training sessions for soldiers at the Fort Polk, LA base as the systems are prepared for future military exercises. Formal DoD acceptance of the BiB system was issued following completion of the testing, training and a complete inventory accounting.
WSGI's and LTAS' operations were in cooperation with WSGI's wholly owned subsidiary Global Telesat Corp., who was awarded the contract from the DoD for a set of BiB systems in January 2013. The contract award included on-location support for technical fact gathering, installation and training for the BiB systems. The BiB is a self-contained mobile tactical aerostat system that can be towed from the back of a standard vehicle and is designed to provide semi-persistent, mobile intelligence, surveillance, and reconnaissance ("ISR") at the platoon level. Each BiB system can provide mobile ISR for days, weeks or months with the aerostat system only requiring a fifteen minute recovery and re-launch and a helium top-off every 24-36 hours.
WSGI President and CEO Glenn D. Estrella stated, "We are proud to have completed the scheduled delivery for the initial set of our BiB systems to the DoD under the terms of the contract and look forward to working closely with our customer as the BiB systems become involved in military exercises. We intend on utilizing all our resources to support our customer as we continue to advance the BiB tactical aerostat system."
OK here's an idea.
The BIB needs exposure to more than the military.
The recent tragedy in Boston shows a use for the BIB or portable pole mounted surveillance.
The BIB or poles could be sold or rented out to large functions like these or simply time and expense donated a few times to bring awareness to thee effectiveness of the BIB for such situations.
If a city purchased these they would have them at their disposal for ANY function.
Thoughts?
form t.
Not that it means much itself, just after hours reporting:
Definition of 'Form T'
A form that FINRA requires brokers to use for reporting equity trades executed outside of normal market hours. Form T trades occur during extended hours - before the market opens and after it closes. The objective of the Form T reports is to maintain market transparency and integrity.
Investopedia Says
Investopedia explains 'Form T'
Trading in extended hours enables investors to react quickly to events that typically occur outside regular market hours, such as earnings reports. However, liquidity may be constrained during such Form T trading, resulting in wide bid-ask spreads. Form T trading is especially suited for overseas investors, since they may conduct the bulk of their U.S. trading when their markets are open but U.S. markets are closed.
The growing popularity of electronic communication networks means that Form T trading is bound to continue increasing.
Thanks Pagan, bookmarked it.
Sometimes these stop take outs are enough to make a preacher cuss.
Does there have to be notification if a stock has been halted for trading for news or whatever purpose?
My experience at FT. Benning with red clay, gravel, and all were a match for me, not familiar with the others.
Impressive volume for this early in the trading day.
"MUST BE HARD CONSTANTLY SHORTING SIRIUS AND GETTING THE SHORT END OF THE STICK OVER AND OVER AGAIN"
Kind of sounds like the urban definition of insanity.
WW it sounds as if you are suggesting WSGI will have no significant $$ amount with contracts. Significant contracts will raise the SP.
Thanks Mide, sounds reasonable, hopefully BJ can confirm this.
Would this be pertinent?
http://transition.usaid.gov/business/business_opportunities/cib/pdf/aapd11_01_amendment01.pdf
CENTRAL CONTRACTOR REGISTRATION AND UNIVERSAL
IDENTIFIER (OCTOBER 2010)
a. Requirement for Central Contractor Registration (CCR). Unless you are
exempted from this requirement under 2 CFR 25.110, you as the recipient must
maintain the currency of your information in the CCR until you submit the final
financial report required under this award or receive the final payment, whichever
is later. This requires that you review and update the information at least annually
after the initial registration, and more frequently if required by changes in your
information or another award term.
Took out a ton of stops this morning.
You guys. The Taliban may be backwoods but they are not stupid. Most of the time they know where the convoys are long before any aerial goes up.
1.4M traded so far and many of us are locked out of buying by the wash rule.
It's all good though.
The first 30 seconds of the open are going to be interesting.
Watch the MM be late to his terminal now. lol
gtel1, did you just yell fire in a theater? :>)
Edit: whoa, I guess not!!! Thanks Pagan
IT'S ABOUT TIME!!!!
Auto sales up 13.4% over last year:
http://online.wsj.com/mdc/public/page/2_3022-autosales.html
nice :>)
Perfect storm seems to be forming. $3.16 ah
The buy out is pretty much guaranteed, what I am very interested in is if Malone goes for the 80% to be able to use the NOL's.
Congratulations to all longs.
Shorts - sorry about your bad luck.
Liberty De Jure control approved by FCC.
Let the short covering begin.
http://www.bloomberg.com/news/2013-01-03/fcc-approves-liberty-media-control-of-sirius-xm-licenses-1-.html?cmpid=yhoo
FCC Approves Liberty Media Control of Sirius XM Licenses
By Todd Shields - Jan 3, 2013 1:16 PM MT
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QUEUE
Q
John Malone’s Liberty Media Corp. won U.S. regulatory approval to assume broadcast licenses from Sirius XM Radio Inc. (SIRI), a step needed for Liberty to finish its takeover of the satellite radio provider.
The Federal Communications Commission in a posting today on its website said it approved the transfer of control of licenses to Liberty, which in March told the agency it was seeking control of New York-based Sirius.
Sirius uses satellites licensed by the FCC, and approval by the agency is a prerequisite for asserting control, Liberty has said.
Today’s approval by the FCC is a step in the transition from Mel Karmazin, 69, who took over at Sirius in 2004 after quitting as president of Viacom Inc. (VIAB) Four years later, he guided Sirius to its merger with XM Satellite Radio, combining the two pay-radio providers just before a slump in U.S. auto sales cut demand for pre-installed radios in cars.
After clashing with Malone, Karmazin in October said he would quit as chief executive officer and Sirius last month named James E. Meyer as interim chief while it seeks a replacement.
Malone, 71, helped Sirius avoid bankruptcy in 2009, lending the company $530 million. That deal earned Liberty billions, gave it a 40 percent stake in Sirius and put Malone on a path to control.
Taking Control
Liberty in filings said it will convert preferred securities and buy enough shares to own more than 50 percent of Sirius common stock within 60 days of gaining approval for the license transfers, the FCC said in today’s order.
Sirius has 23.4 million subscribers and became a profitable company in 2010 after more than a decade of losses. It has satellite radios installed in about two-thirds of all new automobiles.
Liberty Media fell 32 cents to $119.47 at 2:41 p.m. New York time in Nasdaq Stock Market trading, and Sirius rose 6 cents to $3.08.
Before the
Federal Communications Commission Washington, D.C. 20554
In the Matter of ) )
Sirius XM Radio, Inc., Transferor
) IB Docket No. 12-282
1. In this Order, we consider a series of applications (collectively, the “Application”) filed by Liberty Media Corporation (“Liberty Media”) pursuant to section 310 of the Communications Act of 1934, as amended (“Communications Act”) and the Commission’s rules,1 seeking approval to transfer de jure control of the licenses and authorizations held or controlled by Sirius XM Radio, Inc. and its subsidiaries (collectively “Sirius”) to Liberty Media.2 Based on the record established in this proceeding,
1 47 U.S.C. § 310(d); 47 C.F.R. § 25.119(d).
2 See Liberty Media Corporation, Application for Consent to Transfer of De Jure Control of Sirius XM Radio Inc., Narrative, IBFS File Nos. SAT-T/C-20120817-00133, -00134, -00135, -00136, SES-T/C-20120821-00776, -00777, -00792 (filed Aug. 17 and 21, 2012 respectively) (“Narrative”). Liberty also filed applications seeking consent with respect to Wireless Telecommunication Bureau licenses, ULS File Nos. 0005353974, 0005353880 (filed August 17, 2012) and Experimental License File Nos. 0019-EX-TU-2012, 0020-EX-TU-2012 (filed Aug. 16, 2012). These applications will be acted on contemporaneously with this Order by the Wireless Telecommunication Bureau and the Office of Engineering and Technology. A complete list of applications is included in the Appendix. Previously, on March 20, 2012, Liberty Media filed a series of applications seeking Commission consent to the transfer of de facto control of Sirius to Liberty Media. Liberty Media Corporation, Application for Consent to Transfer of De Facto Control of Sirius XM Radio Inc., IBFS File Nos. SES-STA-20120320-00280, -00281, and -00282; SAT-STA-20120320-00054, -00055, -00056; Experimental License File Nos. 0007-EX-TC-2012, 0008-EX-TC- 2012, 0009-EX-TC-2012 (filed Mar. 20, 2012). The Commission dismissed the applications in letters dated May 4, 2012 and May 10, 2012. Letter from Roderick Porter, Deputy Chief, International Bureau and Julius Knapp, Chief Engineer, Office of Engineering and Technology, to Robert L. Hoegle, Counsel for Liberty Media (May 4, 2012); Notice of Dismissal, Wireless Telecommunications Bureau, Reference Nos. 5370148, 5370149 (May 10, 2012). Liberty Media sought reconsideration of these actions, but withdrew that request contemporaneously with the filing of the Application. Liberty Media Corporation, Petition for Reconsideration of Dismissal of Applications for Consent to Transfer of De Facto Control, IBFS File Nos. SES-STA-20120320-00280, -00281, and -00282; SAT-STA-20120320-00054, -00055, -00056; Experimental License File Nos. 0007-EX-TC-2012, 0008-EX-TC- 2012, 0009-EX-TC-2012 (filed May 30, 2012).
?
Federal Communications Commission DA 12-2067
?we find that grant of the Application will serve the public interest, convenience, and necessity.
II. BACKGROUND
A. Description of the Parties
1. Sirius XM Corporation
2. Sirius, a publicly traded company incorporated under the laws of Delaware, provides music, sports, talk and entertainment and news and information programming via two satellite radio systems – the Sirius system and the XM system.3 Currently, Sirius owns and operates eight satellites, and holds earth station, wireless and experimental licenses.4 As of November 1, 2012, Sirius had over 23 million subscribers.5
2. Liberty Media Corporation
3. Liberty Media, a publicly traded company incorporated under the laws of Delaware, holds ownership interests in a variety of businesses. Liberty Media’s consolidated, wholly owned subsidiaries include Starz, LLC, which provides subscription video programming to U.S. multichannel video programming distributors, including cable operators, satellite television providers and telecommunications companies. Starz, LLC, also provides subscription video programming to the Atlanta National League Baseball Club, Inc., which owns and operates the Atlanta Braves Major League Baseball franchise; and, TruePosition, Inc., which develops and markets technology for locating wireless phones and wireless devices.6 Liberty Media has announced that it intends to consummate a spinoff transaction on January 11, 2013, in which Starz, LLC will become a stand-alone publicly traded corporation with the other businesses of Liberty Media being held in a separate, publicly traded corporation.7 Dr. John C. Malone, Chairman of the Board of Liberty Media, beneficially owns shares representing the power to direct approximately 42% of Liberty Media’s aggregate voting power.8
B. Description of the Transaction
4. Liberty Media proposes to acquire de jure control of Sirius. When Liberty Media filed the Application it held 12,500,000 Series B-1 Preferred Shares, convertible into common stock representing approximately 40% of the total outstanding shares of Sirius (on an as-converted basis).9 Based on the preferred shares and other common stock shareholdings held by Liberty Media at the time of filing, Liberty Media stated that it owned the equivalent of 47.3% of the total outstanding common shares of
3 Narrative at 8-9.
4 Id.
5 Sirius XM Radio Inc., Quarterly Report (Form 10-Q), at 3 (Nov. 1, 2012). 6 Narrative at 5-6.
7 On December 19, 2012, Liberty Media filed a supplement to its Application stating that it has formed Liberty Spinco, Inc. (“Spinco”) which will own all of the businesses, assets and liabilities of Liberty Media not associated with Starz, LLC. Spinco will be owned by the shareholders of Liberty Media, in the same proportions, and with the same officers and directors. Upon consummation of the transaction, Spinco will be renamed Liberty Media Corporation and the entity currently known as Liberty Media Corporation will be renamed Starz. Liberty Media Corporation, Supplement to Liberty Media Corporation’s Applications for Consent to Transfer Control, IB Docket No. 12-282 (filed Dec. 19, 2012) (“Liberty Supplement”). Liberty noted its plans for the Starz, LLC spinoff in its May 2012 application. Narrative at 5, n.5.
8 Liberty Supplement at 2. 9 Narrative at 2.
?2
Federal Communications Commission DA 12-2067
?Sirius stock on an as-converted basis.10 Liberty Media stated that within 60 days of Commission consent of transfer of control it will purchase sufficient additional shares of Sirius’ common stock and will convert its Preferred Shares so that it will own more than 50% of the outstanding shares of common stock of Sirius.11 Liberty Media has since converted slightly less than half of its Series B-1 Preferred Shares to common shares and purchased additional common shares of Sirius XM.12 Liberty indicates that the conversion of its remaining preferred stock, and the exchange of senior subordinated notes for common stock, will result in Liberty Media owning approximately 49.5% of Sirius’s outstanding common stock.13 Liberty states that it will purchase sufficient additional shares in the open market and convert remaining preferred shares to own 50% of Sirius XM common stock, upon the Commission’s consent to its acquisition of control.14
The only people that hate this stock are shorts and members of N.A.B.
Soon to be the darling of Wall Street.
Pretty sure most of this is tax loss sell off to counter gains in other stocks. Worked for me. This fiscal cliff is scaring some investors into selling off positions with profit so they need to sell loses to avoid capital gains.
Tuesday will be interesting as this pressure will be gone.
Because of the wash rule some of us will not be able to buy for 30 days after we made our sales. As the end of January approaches buying may increase somewhat just because the 30 day wash rule will be met.
Turned out to be a good suggestion Indy. Once I quit thinking in terms of the Jet stream itself as being the only danger and turned to the troposphere in general the dangers make more sense. I would imagine the Monk load would be significant enough even in a 35 mph wind to be a danger to the airship integrity. Always admired the flexibility concept.
Thanks WW, Sami and Indy.
That certainly appears to be a wide band of 100+ mph winds sami.
From Wiki: "The width of a jet stream is typically a few hundred kilometres or miles and its vertical thickness often less than five kilometres (3 mi).[15]". The same article describes thickness between 1 and 3 miles. Don't know about other states but here one can occasionally see the jet stream from one side to the other.
We have all experienced their effects on the ground. They do not normally stay in one location for more than a few days unless a persistent weather pattern. I am simply implying that jet streams can be avoided. It makes no sense whatsoever to purposefully enter one with an airship.
Sorry WW, still does not answer the concept of simply not launching into a jet stream. Its not like they are everywhere at once, their locations are fairly predictable. Why Lockheed or anyone else would purposefully want to send a lighter than air craft through a jet stream is beyond me.
WW I just do not understand why a strat launch simply avoid launching into a jet stream. They are generally only a couple of hundred miles wide and about 3 miles thick.
Like you said Nil, temporary. Tax loss selling to offset gains with other stocks. Probably see a boost right after the new year and towards the end of the month, 30 day wash rule and all.
Copyright Royalty Judges issued their Initial Determination
http://www.loc.gov/crb/
Also reported by Bloomberg:
http://www.bloomberg.com/news/2012-12-14/sirius-jumps-most-since-august-after-copyright-royalty-decision.html
Might be worth a sticky note since it pushed the SP more than some of the other news pieces.
Determination of Rates and Terms for Preexisting Subscription Services and Satellite Digital Audio Radio Services, Docket No. 2011-1 CRB PSS/Satellite II
On December 14, 2012, the Copyright Royalty Judges issued their Initial Determination setting rates and terms for the digital performance of sound recordings and the making of ephemeral recordings by preexisting subscription services (PSS) and preexisting satellite digital audio radio services (SDARs) under the statutory licenses set forth in Sections 112 and 114 of the Copyright Act for January 1, 2013, through December 31, 2017.
Section 112 Rates: The Judges adopted the Parties' Stipulation regarding the rates and terms for the Section 112 rates, which will require a minimum fee advance payment of $100,000 per year, with royalties accruing during the year recoupable against the advance. The parties agreed that the value of the royalties allocated to the Section 112 license holders is 5% of the total royalty obligation, with the remaining 95% going to the Section 114 license holders.
Section 114 Rates: The Judges determined that the appropriate Section 114(f)(1) rates for Preexisting Subscription Services for 2013-2017 are 8% of Gross Revenues for 2013 and 8.5% for 2014 through 2017.
The Judges determined that the appropriate Section 114(f)(1) rates for Preexisting Satellite Digital Audio Radio Services for 2013-2017 are 9% of Gross Revenues for 2013, 9.5% for 2014, 10.0% for 2015, 10.5% for 2016 and 11.0% for 2017
Rather lackluster trading for the news. Not to worry, what longs are waiting for is coming.