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Me too... because that was my 5Mil buy
My buy hasn't been filled yet.
I wouldn't worry about it though. Another good dump will fill many of us... but if it doesn't, we're no worse off buying into the pps recovery, which is inevitable once dilution is finished (imo), since we're down artifically.
A reverse-split is a move... But only one of several possible options, and certainly not the most likely.
I agree... Unless something has drastically changed this time around, the previous pattern will repeat. This is the last time they can play this game though, without a move by the company.
I didn't get my 1's filled either... If we get any, it will be in the next couple weeks most likely. But, if we get some... there will be plenty to go around, IMO.
Retail rarely gets filled at the low bid, it's simply the way this stock has been manipulated... it will be a few days before we get them, but we will. If estimates are correct, and NIR has a load of shares left to dump as they expire next month, there should be no shortage of .0001s.
But, as far as this stock going to no-bid... today has shown there is plenty of interest, and plenty of people know this company is getting ready to come alive.
...which is why you're still here, right?
lol...well, one way or another we'll get closure!
Any predictions on whether or not we'll see millions dumped into the .0001s? I rather think there is room for one more round. I'd like to get it over with... have Mr. Ribotsky's shares flushed and get on with business.
DOMS has been handling the converted shares for all of the noteholders, not just NIR... so the most likely answer is Toms.
I think that pretty well nailed it. Nice collection of info SC.
I think they knew they were making a deal with the devil at the time these last notes were issued... but had no other financing options. Now it's just up to Toms to 'handle' NIR and finish this.
If that's the case, why not dump shares here and wait to refill after the R/S?
The only reason to hold here, with that likelihood, is if one believes there is more to gain than lose... or if there is nothing left to lose.
...Fair enough. The inconsistency we've witnessed from Cape since September is undeniable and discouraging. But I guess we're looking at it from different perspectives.
They have obviously had difficulties with their noteholders, and I believe that to be the source of delay... as opposed to an intentional delay (or empty promises). Toms doesn't strike me as the type who enjoys to be made a fool of; I fully expect that the audited financials were completed many months ago, but could not be released without causing the resulting share price gain from costing DNPI orders-of-magnitude more money to buy back the converted shares. The bottle-neck here is the finalization of convertibles... in my opinion.
Thank you sir, I have gained alot from the information on this board so am happy to contribute. I look forward to dicussions here and to the success anticipated with our company.
An R/S is only likely if the company intends to significantly dilute further... as of right now, we are simply back down to pre-Sept'09 pps, and since Cape is not compelled to remain listed by any criteria, the worst credible scenario is for nothing to happen, and this stock chug along with only a faint heartbeat. If any change is made to the SS, it only makes sense for it to be exchanged 1000~1 for DNPI shares, not 1000~1 for less of the same... since the companies are treated much like the same entity already, from what I have seen.
I can't say an R/S is out of the question... but it's a long way from being certain.
I think Decision Point will aquire (or is aquiring) Cape for pennies-on-the-dollar, to be completed after the convertibles are settled and before the true value of Cape is exhibited, thus propelling the resulting entity into a strong market position.
The dilution may have served two important purposes... one, having been required in order to compensate the noteholders without them individually exceeding 4.9% of the total shares... and two, to create a pool of cheap shares from which Decision Point could siphon off a majority without competing with retail.
That's just my opinion, since you wanted to know. I have no more proof of that than someone who thinks Toms will do a trillion-to-one R/S whilst monkeys fly out of his bum, so take it for what it's worth.
This stock is obviously being manipulated down by its management... that's not really consistent with classic dumping, which depends on artificial inflation of the pps to make worthwile.
Ask yourself... why would the CEO of two companies, which are favorites for an M&A, intentionally devalue one of them, while by all indications, settling its old debt via convertibles?
Nice catch... I had forgotten all about seeing that.
On one hand a clue why they'd move headquarters from one state to another... but since NJ extended their NOL carry-over from 7 to 20 years, recently... the State expires now at the same time as the Federal, so there's no effective reason for the 2010 date to be significant (unless I've missed something).
True... but that certainly blows the idea that he has not been called or he has not responded out of the water.
There was a recording of a voicemail, if I recall...
My assessment of that situation is that it has taken them longer than expected to orchestrate the conversion of these notes, which pushes everything else back. Of course there is more going on than we can see. The issue is whether the delay is intentional or not... my impression is that it's not.
If they were trying to pump this so they could unload shares, they would have been playing up the anticipation alot more (instead of holding the share price low artificially for 6 months)... I take optimism from the CEO to be just that. Optimism. He never gave any solid dates, just indications of 'soon'. It sure as hell has been frustrating, but as far as I can see, these allegations of being lied-to are pretty ridiculous, he's been quite vague... which is what I'd expect from a CEO who is waiting for his ducks to be aligned.
If this was a shell-game, it's been in the works for nearly a decade and they've gone to alot of trouble for just a few hundred K from shareholders. That doesn't add up, to me.
Cape is well stacked with winners, from my point of view it's only a matter of time before the stock comes alive. This was just never going to be a quick play, though, and many here got in thinking it would be, only to be beaten down by dilution, shorting and flipping... there's simply more than meets the eye going on here.
Cape System's FY begins Oct. 1
June 30 is the end of their 3rd Quarter.
~1000:1 exchange rate on CYSG to DNPI shares is what I rather expect, as well. Alot of that also depends on the value of CYSG, for which DNPI aquires it, divided amongst the total shares. If they fully report all subsidiaries and revenue prior to that, there's an excellent chance that the exchange rate will be more favorable.
Personally, my expectation is a merger before an announcement of a combined, audited financial report... so that DNPI can reduce it's expense on the front end.
Either way, this thing should righteously take off.
In my most humble opinion, of course.
I stand corrected... Midmark owns interest in Cape, Cape does not own interest in Midmark.
That makes more sense, too, come to think about it.
Thanks gatorboy.
They didn't have the cash on-hand to settle the debts at the time, that was why the notes were issued. The run last september allowed them to sell enough shares at a high enough share price to pay for the buyback of all subsequent dilution (which was an unavoidable part of converting the massive nuber of notes)... That works out perfectly, just doing the math (if that is what happened). So, that series of events just makes the most sense to me; call it a gut feeling but the evidence continues to point in a positive direction (once I accepted the dilution was a necessary hurdle which we may have only just now crossed).
There are any number of scenarios which are possible, I admit, but I'm satisfied to wait this one out, whether it touches .0001 first or not.
As far as the debt being settled or not, that's part of the news we're waiting for...
All IMHO, of course.
The reason for the huge number of convertible shares was exactly that... the company 3-7 years ago was securing debt by exchanging convertible notes for a specific value of common stock. The last notes were for Midmark I and II... The most interesting part of the equation is that Midmark is owned (at least in part) by Cape Systems. I'd have to go back through the various filings to tally up the total debt they owed (to themselves, in a roundabout manner), but it's all there in the filings... the very fact that they are settling all of these is an excellent indication to me that they are cleaning up their books in anticipation of becoming a fully reporting company again.
To answer your question, yes they did pay their debts in shares (hence the dilution now, as they are settled). And the details for all of the convertibles are in CYSG's filings prior to 2007.
I had only figured on another 90-180M (depending on the conversion price)... so the ~260M which was dumped exceeded my estimate... of course I hadn't figured on conversion at .0002, so 180M @ .0003 = 270M @ .0002. Maybe that was the last batch, and they were just waiting for a solid downtick.
Who knows.
I wouldn't sweat this...
Personally, I suspected during the last round of convertible dumps that we were still missing a large block of shares, just by the numbers. I don't know why they were delayed like this, though. I had written them off in my mind as a miscalculation.
...But, there they were yesterday. This waiting really sucks, but it's either all or nothing soon. Its gotta be, there's too much going on here.
All this griping doesn't do anyone any good... if anyone is down more than they were willing to accept when they got in, and are still in, that's noone elses' fault. This didn't drop overnight.
We're due for a bit of a spike just based on technicals, but until then, my prediction is we just churn at this PPS.
Either way, I have a feeling we won't be waiting much longer.
Very little activity today... looks like we've ground to a halt until we get some official word from the company.
This is steadily building up... I've said it before, and I could be wrong again, but I think the next few weeks will be very interesting. I'm still optimistic.
Thanks for sharing your research Me2, that's good to hear. I think none of us will care how long it took, once this setup is revealed. I just hope Tom's doesn't waste this opportunity, my impression is that he won't... because he's been master-minding this whole scenario for years, to dig Cape out of its undeniably huge pit of debt.
I've done all the reading and research I'm going to, and my money is on Cape becoming a prominent industry leader, now that its baggage has been quietly shed.
Quite true, but then DNPI would have to pay full market price when buying up the majority of shares, instead of these artifically low prices via pre-arranged transactions.
But that's just my speculation, of course ;)
Thank you for relaying this information... indeed there is more than meets the eye going on here. Deep down, even the uber-pessimistic among us know that, or they wouldn't still be here.
Ok Mr. Toms... my birthday is in a few weeks, All I want is some news.
Shouldn't be long now.
Pure speculation, but I'm rather expecting to see another 90M block go through today...
I certainly hope DNPI ends up being Toms' only game, as far as the outcome of all this goes.
The trend is for DOMS to dump for several days at a time. I'd expect this to go through Friday.