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Would not go so far as to call him God, but I do believe Galo is one of the few CEO's with integrity. He appears to be honest and have values not often found in these parts.
I was not in this stock back then. But I have read every PRSU and BIHC press release for the last two years and every message board post for the last two years. IMO Mr Galo intends to make money for himself(He is a major shareholder here.) and we have been given the opportunity to share that money through the dividend. Many pinksheet CEO's keep all the money for themselves, no sharing.
Well, the authorized has changed twice since he became president,
First change to have enough shares to pay stock dividend to shareholders.
Second change "The company has taken this action in anticipation of closing a previously announced acquisition utilizing restricted common shares; all of the increased shares will remain in the company treasury until the closing. The entire block of increased shares (59,000,000) are and will remain restricted for two years."
Both sound like pretty good reasons to me!
We got one Friday morning and another on Monday afternoon that weekend.
A PR this week would be great. Four days for people to talk it up! Can you imagine the gap up Monday after the holiday.
NYSE is closed Thanksgiving day.
The NYSE Trading Floor will close early on Friday, November 27, 2009 (the day after Thanksgiving) and Thursday, December 24, 2009 . The Trading Floor will close at 1:00 p.m.
I believe 100% that when Galo says the share structure has not changed he is telling the truth. Because I believe he is talking about the 180 million Authorized having not been changed.
IMO In regards to the dividend. If Galo announces a dividend this pps will run even if the whole 180 million were in the float. It might not run as high as it would if there were only 2 million in the float. But it will run!
BTW I don't believe the entire 180 million are in the float.
News in the next couple days would make for a great Thanksgiving! Lots for people to talk about over the holiday.
This company has never put out a press release on a weekend that I could find. Monday would be nice. The company does seem to like Tuesdays for releases.
I think that once the papers were signed and money in hand BIHC would still have to notify the appropriate authorities about the dividend amount and date before releasing it to the public.
I do not find this to be a problem. There is no more than 180 million shares outstanding because that is all that is authorized by the Nevada Secretary of State. 180 million is a small number in the pinksheets. Many of those are restricted so they can't be in the float.
Some people think the "outstanding shares" or the "float" is important. IMO the "authorized shares" is the most important number because the company can dilute the outstanding any time they want as long as there are shares remaining in the authorized. Many pinksheet CEO's do this. There can not be more than 180 million shares outstanding and that number has not changed all year!
The man was unprofessional and put the cart out way in front of the horse. What else can you expect from shareholders.
Galo disclosing that someone was interested in purchasing Baron International was very professional as it would lead to a material event. The problem is not his. The shareholders who think the sale of a business can go through in a week or a month are the ones at fault. The sale of a business usually takes several months.
Kimi,
You are correct. There is no way under the circumstances that Galo could answer half those questions. They would have to be answerer in a press release for all to see at the same time. IMO That press release is getting real close!
It was also the company's intent to provide the share structure last week and that never happened.
Galo stated on 11/16 "I assure you the accurate share count will be posted this coming week, as you see we included that as one of our topics."
A week has seven days. He is not late until after the 23rd. And I would not be concerned until he was several days or weeks late. If he answers in a press release say Monday or Tuesday that would be fine.
thermo,
But for some reason he only has time to delete posts but no time to actually answer anything.
Galo answered posts today. Says he was traveling on business.
Maybe someone else deleted the innapropriate posts but is not permitted to answer the questions?
johnny of all the responses the answer to this question was the one I like best:
Hi Mr. Galo
Will the deal close in 2008, when do you think the contract will be signed, and will the dividend be paid out before December 31, 2008. Thanks and reply back
The reply:
Dear Ram,
That is the company's intent.
Regards,
Cris Galo
Happened to be looking at historical quotes and realized that today this stock traded at ten times what it was trading at on the same date last year. How many other stocks can we say that about? Many of the "big board" stocks are trading at one tenth of what they were trading at last year.
We have had ups and downs. Each trader decided when to buy or sell. To take losses, profits or let it ride. That is how the stock market works and yes there are risks involved. Good luck to all. Enjoy your weekend and the coming holidays.
As stated earlier either the outstanding is very low and he can not explain how we own so many shares or some came off restriction and were sold into the float. Releasing news of the latter would erode the pps. Not good to do now, but would make no difference after dividend is announced. If the deal is going to go through I can't imagine that anyone would sell shares into the float if their restriction was lifted, they could get much more later. Only "insiders" own restricted here, they would know where the deal stands.
Doesn't really matter to me. Volume is what counts. It may scare off some investors if they think there are lots of sales.
We can assume Galo did not post the share structure for one of two reasons.
1) They have sold some of the restricted into the float. Or just sold new shares into the outstanding.(There was a lot of room in the Authorized to do this.)
2) He reads message boards and knows how many shares we all claim to have. That number is higher than the actual float and he does not want to be called a liar or have bashers come out.(This problem would fix itself when dividend is announced.)
We each have to choose which we believe. Any other ideas?
If you buy at the bid it shows as a sale. Buy at the ask it shows as a buy.
Don't know about news today. Think they would let this out pre-market or after market closes.
I don't usually make guesses about dates, but woke up this morning thinking dividend will be paid December 17. Don't usually remember any dreams. If that was they case they still have a week or two to announce. Think we won't hear until next week. Give people lots to talk about over Thanksgiving. Or we might not hear until December 1, Monday after Thanksgiving. We could all keep guessing, someone would have to get the right date eventually.
Was just going to say how nice it was that we were at .021 when a trade went off at .020
We are still in positive territory with little volume.
Wish he had answered some questions when removing the posts.
Do you think they just have someone else cleaning it up or he just can't answer questions because of SEC rules right now.(Material event?)
I checked the company website again. There is only one post each day from 11/18 and 11/19. Seems to me there were more posted on those days. Still only 30 posts and the total was previously above 30.
I don't remember what the posts said, but the number of posts listed at the top of the section is lower than yesterday.
No changes to the company website today. A couple of new posts in the shareholder forum, but none answered by management.
Contracts can take any amount of time the parties are willing to wait. Usually there is a letter of intent, or a contract that offers right to purchase if certain stipulations are met. Looks like this has already been taken care of. The press release states they have set December 31 of this year as the "deadline for this transaction."
Exercised in that statement means they are going to do what they had the right to do. Because of the clause mentioned.
Maybe we do own the whole float if we are only buying and selling to each other. Wait until news and some new people try to get in. We could hold tight and really raise the pps.
That was a stock dividend that was paid last year. The ticker at that time was PRSU before the purchase of Baron International and name change.
Could be November. You any good at predictions?
I have a little cash set aside, but afraid to buy anything in this market and may need it just to pay bills in next couple months. BIHC could take another month or more to pay dividend. I sure hope not, but just can't take the chance.
Rabbi, I would love to "smack the ask", but have risked as much as I can here. Patiently waiting. Think many others have done the same.
We need news for pps to go up. Galo is probably not concerned with these daily ups and downs. He knows if the deal is done and how much it is worth. Truth is he knows our future.
Maybe he is just really busy reading contracts and signing papers. That would be so cool!
Sounds like a great idea. Now if we could just get some information from BIH Corp this week. Maybe they should have put one pr out each week instead of two last week.
I know and he has been honest so far. Two days left, then people will begin to really think somethings wrong. If he doesn't post or PR a share structure people will think he is hiding something.
I have thought about retiring. Have 28 years with current employer, good pension plan and medical benefits. The economy has me second guessing. BIHC runs really big? Who knows?
I was hoping for news this week or next. Thought maybe that is why Galo suddenly stopped answering questions on the forum. Would have to be soon for them to get record date, and pay date done before end of year.
Thanks, I was going to do that but just got in from work. Although that does ruin my morning. Really I'm going to get most excited when the press release with dividend dates comes out. Trying to keep my emotions in check until then.
You'll be a billionaire if we can get past the other fourteen market makers ahead of UBSS. I don't think there is much chance of that.LOL