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Lickety-I am not ok with this. I would much rather have seen the offering completed yesterday as planned. They will know the results on March 15. Timely results of the offering after March 15 should be expected. The results should not be dragged out for weeks or months.
I will reserve judgement until after March 15.
Here are the results of abother rights offering that expired February 27. Results already out.
Uranium Resources Announces Results of Rights Offering
Print
Uranium Resources, Inc. (MM) (NASDAQ:URRE)
Intraday Stock Chart
Today : Friday 1 March 2013
Uranium Resources, Inc. (NASDAQ: U**E) announced today the preliminary results of its non-transferable rights offering, which expired at 5:00pm ET on February 27, 2013. The Company estimates it will receive gross proceeds of approximately $8.7 million, before expenses, from the shareholder rights offering, which is to be used to satisfy a $5.0 million bridge loan and for general working capital.
The rights offering is expected to result in the issuance of 3.4 million additional shares of URI common stock, which would represent approximately 67% of the maximum number of common shares available under the rights offering. The results are based upon the subscription for shares received, and remain subject to receipt of final subscription agreements for such shares in accordance with the terms and conditions of the rights offering.
I don't see how they could say the rights is a failure after this positive press release just one week ago. If it is a failure after this PR they would surely be lible for misleading investors. It would probably open them up to class action lawsuits.
ERHC Energy Inc. Calls Response to Rights Offering ‘Encouraging’
HOUSTON, February 21, 2013 – In the latest in a series of interviews with ERHC Energy Inc. (OTCBB: ERHE) management, Vice President, Administration and Controller, Sylvan Odobulu, reported that the Company views response to its ongoing rights offering as ‘encouraging.’ ERHC is a publicly traded American company with oil and gas assets in Sub-Saharan Africa. The Company’s rights offering expires at 5:00 p.m., Central Time, on Thursday, February 28, 2013.
Odobulu called the rights offering an initial step in ERHC’s efforts to raise funds needed for oil and gas exploration in Kenya and Chad as well as for general corporate purposes and working capital needs.
“The rights offering (is) not the only step by any means,” said Odobulu. “We have several other steps planned, including possible registered direct offerings to new investors. How much we seek from new investors will depend on the degree of take-up of the rights offering by our existing shareholders, and nothing is definitive at this point in time.”
The interview is posted online at http://erhc.com/articles/Odobulu-interview/.
In late December, ERHC distributed on a pro rata basis one non-transferable subscription right for every three shares of common stock owned. Shareholders as of the close of business December 17, 2012 are eligible to receive subscription rights, each of which entitles the holder to purchase one share of the Company’s common stock at a subscription price equal to $0.075 per share. The rights offering also includes an over-subscription privilege.
ERHC previously announced plans to pursue rift margin plays in Kenya and Chad similar to those that yielded major discoveries in neighboring Uganda as well as recent large discoveries in Kenya to the east of ERHC’s Block 11A. Kenya is at the intersection of the Cretaceous Central African rift system and the Tertiary East Africa rift system, a geological occurrence that can contribute to a high potential for hydrocarbons. In Chad, ERHC has delineated two focus areas situated directly north of numerous major discoveries on a rift margin along the Central African Shear Zone.
ERHC is planning to commence its exploration work programs in Kenya and Chad after raising the necessary funding.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy shares of the Company’s common stock, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
I know you said you participated. I was just asking why you decided to participate. Obviously there were other places you could have put the money. Since you participated you must still feel ERHC has value going forward.
Why did you decide to participate in the offering?
If anyone acted on information on Chrome being in or out of the offering that would be insider information. A quick ticket to jail.
Toyoty-do you have any doubt that Offer and Chrome will have participated in the offering. You seem to leave some doubt in your statements "When we see how many shares Offer bought, if any" and " If the next filing shows Chrome's shares unchanged".
I don't see how Chrome and Offer could not have participated after their public statements supporting the offering.
Am I interpreting your statements incorrectly?
I assume you are buying June SPY puts and UVXY calls. What strike prices are you buying.
Thanks
now 1000 shares sold @ .07 for a total of $70 + commissions. Someone wants to show the price lower.
114 shares sold @ .071 for a total of $8 + commissions. Who makes such a trade except a MM who wants to show the price lower. Now 100k on the bid @ .07
Right now there are only 44k shares arailable below .075 unless as some say there are hidden shares. So if you are looking to buy 44k or less you can probably but them on the open market. If you are are a large shareholder (one sharholder wanted to buy 500k) then you probably could not buy them on the open market below .075.
Can you share what platform you use for your charts. I use Stockcharts.com. I normally use the SLO STO, TRIX, CMI, RSI, and 20-50-200 MA. I see you use WLR. Can you please explain how you use that indicator.
Thanks
Think of VRNG and it's lawsuit against Google. I believe they won the suit but damages have not yet been decided.
Who sells 555 shares @.0035 for a total of $1.94 less commission.
Didn't PN buy shares with his own money at .14 in the last year?
Please take a look at SNDY. They have a catalyst comming up at the end of this month:
Solos Endoscopy, Inc. (SNDY) is pleased to announce that the Company and TUV SUD America has scheduled its Stage 1 ISO 13485 Audit for February 26, 2013.
Anyone that takes the time to look at the L2 right now (1:10 EST) would see this:
Bid 250k @ .06
Ask: 50k @ .069
10k @ .0695
10k @ .072
20k @ .075
1k @ .077
45k @ .09
AS I said yesterday there are not that may shares available less than .075 unless as someone claimed yesterday that they are hidden. The only was I know to hide a sell or purchase order is to specify "All or none".
IF one believes the market will have a pullback in the next 3 months would you buy calls on one of these:
UVXY
TZA
FAZ
or puts on:
SPY
VXX
Thanks for your help
Amj23-I was looking at L2 today. There were 70k offered at .0623, one buyer bought the 70k and the ask went to .071 for only 10k. I am not sure there are tons for sale.
Even though the current share price is below the rights offering price I doubt that any of the larger share holders could buy their alloted shares below .075. If you look at the L2 there are not that many shares for sale below .075.
Do you know if a company has to issue an 8K if they sell additional shares (dilute) from their authorized shares. We hear all the time that a company is diluting yet we don't see any filings.
I watched a video chart of WGAS. They seemed to think it may have found a bottom. I know this in one you have followed for awhile. What are your thoughts. Thank you.
I guess it's not wise be hold any bio when they announce results
According to unaudited financials revenue has grown from $671,074 in first quarter to $1,619,903 in third quarter.
United Western Bancorp Inc. (UWBKQ)-Do you think the stock has a chance to be worth more that $0 when a settlement comes. From my experience most Q stocks are worth $0 when they emerge from bankruptcy. I guess we can just trade the stock while waiting.
CJ- are you still holding GRO
In IBOX OJ still says COOL MTSN AMD
AF-have you had time to update the OJ portfolio with your new buys?
AF-Are you going to hold COOL through earnings (Jan 14)
CJ-Are you still liking GRO? I am long GRO
What are your feelings on the overall market for the next 3-6 months. If you feel the market will be down do you think the following would be good.
TZA - FAZ - UVXY calls
SPY puts
Thanks
CBP-Seems like big seller from MM EDGX is gone so far today
Why was IAL banned. He has some great charts and seminars.
SA-$tockfather article on CBP
If I search SeekingAlpha for $tockfather I can bring up this article. People might not see it unless they search for it.
http://seekingalpha.com/instablog/5557961-tockfather/1385571-why-cbp-is-the-most-undervalued-small-cap-china-company-listed-on-the-us-markets-right-now
I am looking at 3 chinese stocks that are trading at depressed prices: NCTY - CALI - LAS
All 3 appear to be trading at less that their cash value. CALI and LAS do have substantial debt while NCTY is debt free. All 3 appear to have lost money in 2012.
Does anyone have an opinion on these stocks for 2013. I know CJ likes NCTY and has been accumlating shares.
Sorry meant this post for the Goodfellas board but if anyone has any input it will be appreciated.
I am looking at 3 chinese stocks that are trading at depressed prices: NCTY - CALI - LAS
All 3 appear to be trading at less that their cash value. CALI and LAS do have substantial debt while NCTY is debt free. All 3 appear to have lost money in 2012.
Does anyone have an opinion on these stocks for 2013. I know CJ likes NCTY and has been accumlating shares.
SHZ-Every time we get close to breaking .45 MM EDGX places an order at the ask of over 200K @ .45. If SHZ pulls back the order dissappears
SHZ-Every time we get close to breaking .45 MM EDGX places an order at the ask of over 200K @ .45. If SHZ pulls back the order dissappears.
Herber: I can't see others favorites. It was sent to me in a tweet.
Why did you remove Orion's from your favorites