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Hundreds of billions of restricted would not be a good deal. They could never hold value for a year and would tank BKMP as well. We need to have the stupid divy JUST GO AWAY! It was a stupid number to begin with and it is hurting the company and all shareholders to have it hanging around. Think of how big a number hundreds of billions of new shares really is? Want to end up like CMKX????
You miss the point. The deal they are offering on restricted is purposly a bad one to get rid of the preferred issue without having to issue a retraction to cancel them. I bet the TA wouldn't even accept a check and request to convert. The point is to end the pref. fiasco not to sell more shares to dilute by hundreds of billions.
MMA and Tito on NUMB3RS, CBS right now.
Scott, I had restricted shares in a company a few years ago - it wasn't evena sub-penny, but did get dilisted eventually to a pink. When the year was up, there was no way to get the shares unrestricted - lots of excuses by the ceo, but no action. I thought (foolishly) that they just automatically became tradeable. What a lesson - I still have the cert. - haven't even figured out how to write it off for tax. I got them for .30 when the stock traded for over a dollar. THERE IS NO WAY THIS IS A GOOD DEAL ON BKMP! I wonder if the TA would even process the convert. if someone tried to send the 150 bucks. Where would the money go? I wish someone would try - just to find out what would happen.
SS: when you read that pr it really does sound like they seriously expect folks to convert.However, I just don't believe it - Usually to get anyone to take restricted stock the deal has to be REALLY sweet, but not at half the current free market price! I think they made it a bad deal on purpose to make the prefs. go away - curious if anyone has tested out converting any to see if the TA is actually going through with it.
I think he has had a complete emotional meltdown from expecting a big explosion of pps yesterday and getting totally disappointed. This is his way of playing it - I just unpacked my files and went back to work, cashed in my plane tickets and tried to forget my big plans. We are stuck now until concrete news is PR ed (if ever happens). Only positives are that the prefs. are moot now, and the O/S has not changed. We wait for news like we have been since?????.....
selling to AT does not dilute, because he would have to pay the 150 per million to convert just like you would. He won't do that - pay you and the fee and buy for more than the current open market price. And then own restricted, not free-trade....no way.
If the painter doesn't show up we are about to close at .0002. YUK
The pr says 10 billion gives 10 million restricted at cost of 1500. If I had 250 billion prefs. it would convert to 250 million restricted IF I PAID 250 x 150.
to convert my 250 billion to the 250 million that is the proposed conversion would be 150 x 250. That is what my free trading gift would cost me. That's why I say that Sandy can't be serious about the conversion and is just trying to make the prefs. go away.
Let's review: My original 25 million shares gave me 250 billion preferreds, that can now convert to 250 million restricted shares for a mere 37,700 dollars - all for a company that could then have 130 billion new common shares when the restriction ends - just to share 20 per cent ownership in TFN through a holding company that only gets what TFN decides to share with it and then only if TFN is sold. EH?????
the not-so-funny thing, rounding up to the nearest billion shares to convert. Ever hear of something like that? Sandy, come on now!
TO ANYONE STILL LEFT STANDING AFTER TODAY: Sandy is the only one who can make sense of this debacle so we are waiting for him to step up. Realistically, as pinkies go, this is probable dead after the stunts he pulled, and given that he owns the private TFN and doesn't give a flip about BKMP since he probably sold out all his shares long ago. But we are stuck and desperate, so we hope and wait for news. Throw another cent at this deal now????NO WAY will anyone with any sense do that.
kilerb, when the dust settles and anyone left here can think this out (I am sure that quite a few long timers finally sold out)....well, the preferreds never made sense because there were SO MANY shares it just was crazy, and the prefs. weren't based on anything - certainly not on TFN ownership of any kind. Maybe it was just a poison pill for some takeover. Anyway, they weren't real, so now the "conversions" is a way to clean them out and make them go away. No one will throw money at pinky restricted shares when you can get unrestricteds for almost the same price. The only real question is what Sandy is going to do now with BKMP, and if there is real news coming down sooon, before those who remain give up on the whole thing.
What do you have to say, Web Spartacus? The Spartans all perished, didn't they?
Listen to what, Tattoo? You are here to help us out? You never bought this stock, or pumped it, you just came over here to tell us that you KNEW it was a scam??? Please.....give me a break!
TINA: does anyone care that Tito Ortiz will be on the network tv show NUMBERS, next Friday night!!!! Isn't this good publicity?
Tina - remind me of exactly what BKMP it to UFC - because UFC fighter Tito will be on the friday night tv show NUMBERS, in nest week;s episode.
Art, if hrhr could buy 200 mill. you have to wonder who is selling them. The hype here is weird.
Web, you forgot your accent on that post! I hope you tell us, someday, who you really are. Borat???maybe?
Weird - I had a message in mailbox and then it went away. What's up with that?
AT, I believe that it has been posted, supposedly from Sandy, that WE are not entitled to any profit, but would gain only from a buy-out of the company.
You have to assume that all the money from selling stock went to TFN and we are up to 13 billion shares at varying prices - but even at .0005 average that would be 6.5 million. How much cash did Sandy have to put in that didn't come from BKMP? None I bet.
Tina, the lesson should be for Sandy - stay in touch with investors and let the public know how the business is going, clarify the benefits for bkmp to have pumped so much cash into TFN for only 20% ownership, if that is really the case, quit giving out unofficial tips to a few emailers, and overall act in a more professional way so that we don't have so many doubts about his intentions. We can only hope that Sandy and Garrow still own enough BKMP stock so that they have incentive to support it instead of only TFN that is their private holding. However, if they have sold all of their bkmp stock then we are TOAST!
I hope so Manny, I am tired of being stuck at .0003/.0004
the newsletter dropped the bid/ask back a point. Is that all we get?
How sweet it is to be a multi-millionaire! How much tax do I owe on this?
When I get a break at work and can make a call from cell phone.
I can't read the sig. either. Not typed under the signature line. Hmmmmm......
Just got my "gift" by FedEx. Letter enclosed says that Etrade will no longer be accepting Blackout Media preferred stock certificates for deposit. Says to contact American Heritage Stock Transfer Inc. for additional information. Hmmmmmmm.
I hope so - would be SWEEEET.
Why and how? Do you agree with Web that the common will tank back to .0002? How can preferreds be valued with such a large number unless R/S????
The volume keeps rolling in. SOMEONE must know SOMETHING!
I guess that some posters owe an apology to AT from yesterday.
YIKES! what just happened - 50 mm buy jumped to .0004? Can it be true?
Web, what is this new message you are giving? Now is it all the Spartans will be slaughtered at the pass? Why did we hold all this time?
YOLO, the survey and it's impliction that US carriage is not close is not playing well with the market. I wish everyone would do the survey by e-mail and keep it off the board. It looks foolish for Sandy to be running the company based on a message board survey.
DReam on, CNBC will NEVER mention a pink stock at .0002/.0003.
CNBC must be going to mention IFLI.
What did they say, Mike. Not all are home watching TV during the work day.