Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I suppose it's possible to make some money with this still when it finally hits bottom and do some flipping while others are chasing the fabled 1 penny dream, but I'd be afraid to buy now... I'd be worried about what the next PR says....
I still don't understand why they bothered with the CC. They had to know it was going to tank as soon as they got done with it. They could have pulled the price up high within 2 weeks using PR's instead of a CC.
I'm surprised Volume is still high after yesterday...
They'll probably release a summary of some sort.
I didn't hear Mini Tender offer either.
Plus here's Charlie48's post and didn't posted tender offer..
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=48213815
Conference call summary:
Posted by: bkbirge Date: Wednesday, March 24, 2010 2:49:06 PM
In reply to: darktrader who wrote msg# 19234 Post # of 19424
Conference call summary:
*ping*
Closing date April 30th 2010
*ping*
Offer nonbinding on all parties until closing
*ping*
Offer is to buy all outstanding shares for 0.01 each share, pending due diligence
*ping*
Tender Offer has been accepted, it's up to the buyer to do the due diligence, which will take around 20 days
*ping*
No mention of who the buyer is.
*ping* *ping* *ping*
That's it, it's over.
;) don't be jealous.
Sold this morning at .0029; Got back in at .0009 this afternoon.. I'll just keep riding the waves.
I understand 2 and 3, but it seems to me that they may not release the name of the buyer. Maybe to keep competeing companies from offering counter offers?
I think some are worried about selling all, incase trading gets halted for the sale or something like that imo.
WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!!!!!!!!!!!!!!!
IMO it will keep climbing until CC, level level off or drop somewhat during CC; then climb or fall depending on what happens during CC.
25's coming
It's not going hit those levels... Well, in my dreams it would.
http://www.timezoneconverter.com/cgi-bin/tzc.tzc - Now stop asking about the times...
It'll be good news... I doubt they'd have a CC if it was going to be bad. I could be wrong though.
Wow, the bashers are here already? Hope your getting overtime...
In other new, GM people!! @PM EST time today I'll be on the phone and ready to sell or hold; depending on the situation, ha ha!
Great Post Chris21!!
Quote:
--------------------------------------------------------------------------------
One should never take a face value the claims of a pink sheet CEO. Obtaining third party verification of the things a company claims is the only way to go about it.
--------------------------------------------------------------------------------
But taking claims from speculators is fine?
Quote:
--------------------------------------------------------------------------------
This company is technically bankrupt. Its liabilities as of the date of its last filing far outweigh its assets.
--------------------------------------------------------------------------------
Bankruptcy is not a technicality. Bankruptcy only occurs when you can no longer pay your creditors. There is absolutely no evidence that THRR is not continued to receive financing and paying the bills.
Quote:
--------------------------------------------------------------------------------
The company only has $488,000 in total assets.
--------------------------------------------------------------------------------
In terms of a friendly takeover, they are buying the company. The company offering the buyout has money. The assets are negligible except for credit security.
Quote:
--------------------------------------------------------------------------------
The company has over one million dollars in CURRENT LIABILITIES
--------------------------------------------------------------------------------
Precisely why a high buyout would be necessary. If the company has the financial position to pay down liabilities, restructure etc., that number can go down significantly.
Quote:
--------------------------------------------------------------------------------
4. The company has over two million dollars in LONG TERM DEBT.
--------------------------------------------------------------------------------
The company has a loan. The company has credit to get $2,000,000 in financing and someone is confident that will be repaid.
Quote:
--------------------------------------------------------------------------------
The company is LOSING approx a half million dollars per quarter.
--------------------------------------------------------------------------------
Research & Development and/or development of a valuable patent could easily explain that.
"An estimate of the amount spent during each of the last two fiscal years on research and development activities, and, if applicable, the extent to which the cost of such activities are borne directly by customers; Most of the technology was brought to the company by Mr. Flessner; about four or five weeks of the past year has been devoted to some type of R&D efforts. Procuring the metal matrix technology did take
about two to three months." (from Information and Disclosure Statement Sept 09)
Quote:
--------------------------------------------------------------------------------
The company only does a minuscule approx. $10,000 in sales per month
--------------------------------------------------------------------------------
Sales obviously aren't the main focus of the company. They are working on developing products and provide services as needed. Their disclosure statement says the provide FULL engineering support and R&D among other services. They even said in a disclosure statement that this company should be considered like a biotech company. The cycles of profit/loss can be very wide but often pay of greatly.
Quote:
--------------------------------------------------------------------------------
The company has a NEGATIVE 10 million dollars in retained earnings.
--------------------------------------------------------------------------------
7 million of that is the issuance of new shares. The PPS dropped significantly, along with the decline of the market to yield that number. When PPS recovers that number will greatly improve. It has already fluctuated greatly int he past two weeks.
Quote:
--------------------------------------------------------------------------------
The companies financials have NOT been audited.
--------------------------------------------------------------------------------
That didn't stop you from using the numbers to build a argument against them and it doesn't stop creditors from issuing them credit. It is in GAAP format and all the numbers check out.
Quote:
--------------------------------------------------------------------------------
9. The suitor is unnamed.
--------------------------------------------------------------------------------
The suitor is unnamed as of yet. The offer wasn't sent all that long ago. It needs to be reviewed, approved by the board and legal counsel. You KNOW that. It's too much risk to the agreement to have the buyer be announced by the company they intend to purchase. If the buyer announced it themselves it would be a different story. If anything you should be blaming the buyer for not disclosing, not THRR.
Quote:
--------------------------------------------------------------------------------
There has been no announcement as to whether this mystery suitor would be paying in cash or stock and if stock, whether the stock would be free trading or not.
--------------------------------------------------------------------------------
This is based on the theory that it is a publicly traded company purchasing THRR. I don't see them converting 10-14 BILLION shares into restricted trading. If you are assuming the company acquiring them is a public company then consider the looming weight of all those shares as restricted when they become available for conversion. I should also point out that at the end of this post, you are putting your foot in your mouth. 901c says a minimum of 60 days must be allowed before an offer can be approved if the transaction is going to involve rollover to securities of the buyer. THRR has indicated they want the offer approved far in advance of 60 days, indicating a legal tender buyout.
Quote:
--------------------------------------------------------------------------------
The suitor being unnamed makes it impossible for any shareholder to do any due diligence as to the suitor's ability to pay.
--------------------------------------------------------------------------------
Again the offer was announced and THRR plans to release the buyer on monday. There IR/stock promoter whatever you want to call them has been right on target with everything and a conference is planned for next week to update shareholders.
Quote:
--------------------------------------------------------------------------------
There are promoters working this stock and have been hyping the announcement very aggressively. If .01 was guaranteed, why would promoters be needed to to try to jack the price of the stock to .01? Why pay a promoter a penny to try to get a stock to a price which is already guaranteed?
--------------------------------------------------------------------------------
Why not? Business should continue as usual until the agreement is signed and sealed. They shouldn't just stop operations because they have a buyout offer. Their promoters have been paid to provide a service and they are doing it.
Quote:
--------------------------------------------------------------------------------
Since the company supposedly agreed to the terms of the deal already on the table, they have issued almost a BILLION SHARES of new stock and raised their A/S by 4 BILLION shares. Sorry, but a legitimate buyer would not stand for this. This effectively raises the price they would have to pay for the company by a substantial margin and would thus make any agreed upon deal null and void as well as substantially changes the terms of the original offer.
--------------------------------------------------------------------------------
This entire statement is speculative. You don't know what the offer was in the first place. You are assuming its being adjusted after the fact. This could have already been planned BEFORE the agreement was announced and indeed if you look at the document I posted from the Delaware Secretary of State they diluted the stock on the day they announced the approval of the offer by the board (Post #13474).
Quote:
--------------------------------------------------------------------------------
The tape tells the tale. The stock is trading at .0012. If the deal were real, the mystery suitor's investment banker would be buying the stock to within 10 or 20% (.008 to .009) of the buyout price. The fact that is not happening, tells everyone that there is no deal worth .01 in cash for this stock or nothing even close to it.
--------------------------------------------------------------------------------
A baseless assumption. They could be buying at a higher amount of the offer.
Quote:
--------------------------------------------------------------------------------
If there was indeed a tender offer, the whole mess is 100% illegal. Why? The company claims this will all be consummated by April the 10th. This proves that these bungling bozos have not consulted with securities attorneys to find out how a legal tender offer is even conducted.
--------------------------------------------------------------------------------
Their recent PR stated a securities counsel would be on hand during the conference. That implies they are briefed on the matter.
Quote:
--------------------------------------------------------------------------------
This is 100% SCAM and here is why. It is all in violation of Rule 14e-1 and the Securities Exchange Act of 1934
Rule 14e-1 -- Unlawful Tender Offer Practices
As a means reasonably designed to prevent fraudulent, deceptive or manipulative acts or practices within the meaning of section 14(e) of the Act, no person who makes a tender offer shall:
Hold such tender offer open for less than twenty business days from the date such tender offer is first published or sent to security holders; provided, however, that if the tender offer involves a roll-up transaction as defined in Item 901(c) of Regulation S-K and the securities being offered are registered (or authorized to be registered) on Form S-4 or Form F-4, the offer shall not be open for less than sixty calendar days from the date the tender offer is first published or sent to security holders;
Increase or decrease the percentage of the class of securities being sought or the consideration offered or the dealer's soliciting fee to be given in a tender offer unless such tender offer remains open for at least ten business days from the date that notice of such increase or decrease is first published or sent or given to security holders.
www.law.uc.edu/CCL/34ActRls/rule14e-1.html
investorshub.advfn.com/boards/read_msg.aspx?message_id=47929113
--------------------------------------------------------------------------------
Thank you for posting the securities law. Now lets elaborate on some things. The only thing 14-e1a means is that the BUYER cannot hold the offer open for less than 20 days. The target, in this case THRR can approve a tender offer before that and they have done so.
If they were going to use 901(c) it clearly states "Except as provided in paragraph (c)(2) or (c)(3) of this Item, roll-up transaction means a transaction involving the combination or reorganization of one or more partnerships, directly or indirectly, in which some or all of the investors in any of such partnerships will receive new securities, or securities in another entity."
That would mean the offer could stand for 60 calendar days for shareholders to reach a decision. Since the offer is expected to be concluded far in advance of that window, they are going for CASH (legal tender) and NOT an exchange of securities.
I also want to point out that a tender offer is NOT defined by law. It can be any combination of things and the SEC has the right to intervene (with the courts) if it meets some criteria of what is called the Wellman test.
Were they found guilty? I don't think so. I could sue you for just about anything I wanted; it doesn't mean it's true and it doesn't mean I'll win.
Their company officers also went to jail.
Great post! I agree.. A part of me thinks that when they finally decide to give up the majority of the information; trading will halt so no one can flip and they will try to complete the sale.
These aren't stupid people, they had to know what was going to happen.
Importance of Talbor Patent:
Talon Composites (Ref. 1) is the company who has been working on, and successfully completed, development of the material Talbor, a metal matrix composite with a diverse range of uses. Robin Carden, CEO and owner of over 25 patents, previously ran Alyn Corporation, a publicly traded company, focused solely on developing Boralyn. The company failed and Mr. Carden resurrected his team and formed Talon Composites to continue development of Boralyn under the new name Talbor. In October 2006, Thresher Industries acquired Talon Composites and continued development of Talbor.
The earliest reference I could find for Boralyn development was 1999 (Ref. 2). Boralyn was highly sought after, and the failure of Alyn was lamented by retail, sports, military, nuclear, and auto industries. On February 24th, 2010, Cal Poly University, San Louis Obispo, confirmed that the Talbor quality claims made by Thresher Industries were accurate and that it is a high quality material.
This means that on Feb. 24th, a highly sought after material finally reached fruition after at least 11 years of work. Thresher not only holds the patent for Talbor (Ref. 3), they also hold the patent for the machine that makes it (Ref. 4), and the process which uses recycled materials and zero emissions production.
11+ years of research and entire careers of work finally completed and verified. Two weeks later, an offer was made to purchase the company at a price above current market value.
Ref. 1: www.taloncomposites.com
Ref. 2: http://www.allbusiness.com/company-activities-management/product-management/6638973-1.html
Ref. 3: www.netcomposites.com/news.asp?4166
Ref. 4: www.thresherindustries.com/materials.html
What THRR is worth is based on what someone is willing to give them. I don't know what their patents are worth, but I promise that NO ONE here does either.
where did you get that list? link?
http://www.cnbc.com/id/35982863
Nice, people will def be seeing this.
18's up
No one here knows the facts... Why is everyone freaking out about this? Just play this stock like you would any other and stop letting others make decisions for you.
Question....
While I'm not thouroughly convinced this is legit; I have taken some profit and am letting the rest ride.
I'm wondering though; if this ends up being a scam, wouldn't this open them up to law suit after law suit? By scam I mean they lied about the buyout to increase the share price; not that the buyout deal fell through.
They get alittle protection from the Safe Harbor Act, but it won't protect them if they intentionally lied.
Can someone explain?
I agree... The CC can def make or break this in the investors eyes
I read it and could see Donald Sutherland in my head.
Comeon 19's....
Get ready for 18's
16's falling... let's close at .0017
Experienced investors don't read forums.
a ton of 777 and 666 buys and sells... I wonder what the heck they are.
What are the .021 777 buys going through?
NEWS!! Conference call Wednesday
http://finance.yahoo.com/news/Thresher-Industries-Announces-prnews-1050879322.html?x=0&.v=1
HANFORD, Calif., March 22 /PRNewswire-FirstCall/ -- Thresher Industries (Pink Sheets:THRR.pk - News) is announcing it has finalized its plans for a conference call to investors. The conference call is for shareholders and interested parties, to clarify the offer received on March 9, 2010 to purchase Thresher Industries. Roger Rowell, the company's CFO, will speak, as well as the company's Securities Counsel. The call is scheduled to take place at 11:00AM PDT on Wednesday, March 24, 2010. Thresher will have the call in information posted on its website http://www.thresherindustries.com/.
About Thresher Industries, Inc.
Thresher Industries, Inc. is a leading manufacturer of low carbon footprint conventional and custom machined die castings made from 100% recycled aluminum and metal matrix composites. Based in Hanford, California, the Company operates an ISO 9000-compliant, "green" foundry that integrates bio-degradable technologies and processes to lower the economic and environmental costs of production. Thresher offers full engineering support, designing, and prototype development to a variety of industries including: agriculture, aerospace, defense, transportation, and automotive in the U.S. and Europe. For more information, visit http://www.thresherindustries.com.
Importance of Talbor Patent:
Talon Composites (Ref. 1) is the company who has been working on, and successfully completed, development of the material Talbor, a metal matrix composite with a diverse range of uses. Robin Carden, CEO and owner of over 25 patents, previously ran Alyn Corporation, a publicly traded company, focused solely on developing Boralyn. The company failed and Mr. Carden resurrected his team and formed Talon Composites to continue development of Boralyn under the new name Talbor. In October 2006, Thresher Industries acquired Talon Composites and continued development of Talbor.
The earliest reference I could find for Boralyn development was 1999 (Ref. 2). Boralyn was highly sought after, and the failure of Alyn was lamented by retail, sports, military, nuclear, and auto industries. On February 24th, 2010, Cal Poly University, San Louis Obispo, confirmed that the Talbor quality claims made by Thresher Industries were accurate and that it is a high quality material.
This means that on Feb. 24th, a highly sought after material finally reached fruition after at least 11 years of work. Thresher not only holds the patent for Talbor (Ref. 3), they also hold the patent for the machine that makes it (Ref. 4), and the process which uses recycled materials and zero emissions production.
11+ years of research and entire careers of work finally completed and verified. Two weeks later, an offer was made to purchase the company at a price above current market value.
Ref. 1: www.taloncomposites.com
Ref. 2: http://www.allbusiness.com/company-activities-management/product-management/6638973-1.html
Ref. 3: www.netcomposites.com/news.asp?4166
Ref. 4: www.thresherindustries.com/materials.html
(Found this on another website)
I tend to agree with you, while xplosive stock has been correct about the last two PR's; I have to wonder about the revealing of the buyer today.
No one knows what will happen... Alot of opinions flying around.
GM everyone!! GLTA