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The intent in bold.
Specifically, the Reporting Person intends to:
· convert almost one-half of the shares of B-1 Preferred Stock, which, together with the shares of Common Stock owned or acquired by the Reporting Person, will constitute more than 32% of the total outstanding shares of Common Stock;
· as soon as practicable, nominate for election persons to serve on the Issuer’s Board of Directors such that, if elected, persons nominated by the Reporting Person will constitute a majority of such Board of Directors;
· vote all of the Reporting Person’s shares of Common Stock in favor of such nominees; and
4
· solicit proxies from other shareholders of the Issuer in support of the election of such nominees.
The Reporting Person also indicated in the Petition that it intends to continue purchasing shares of Common Stock in the open market, depending upon price and other market conditions, and that the Reporting Person may purchase sufficient additional shares of Common Stock that would enable it to replace the entire Board of Directors by unilateral action.
No hog, that was naked shorting. There is tenuous evidence naked shorting still happens, but nothing like in Overstock.com days. The uptick rule would help retail tremendously.
The catch 22 of investing.
Wall street needs to get rid of the uptick rule.
This is a blog. They can say anything they want. SA has had many knowledgeable people blast them for absurd articles in the past.
Notice he said nothing about Mels sales being preplanned sales for his non profit. The planning of the sales was done long ago.
Yes Trash, Sami put a very astute compilation of DD together. I join you in the humbling dumbarse gallery and yell KUDOS to Sami! If the combined observations prove real there should be some kind of reward. If not, it was still excellent.
As they can manipulate the sp down so to can they manipulate it up when it suits them.
Fundamentals are out the window at this point, it's all about accumulation at the lowest cost. Manipulation is a fact of equities life anymore.
AABA could have a million shares stacked and all we would see on level II is the 5,000. Lot of shares at .05. Somebody wants to dump into the buying, except without good numbers on the contracts the buying may not meet their expectations. If there are some decent numbers then large numbers on the ask will be rather moot and inconsequential.
Nil, had a similar experience myself. the more solid positive info coming from the company the more people I will be passing it on to.
wow, .0549, who lit the fuse!?
Buoyancy balloons just for the cable should not be out of the question either. They could increase the weight and length of the cable and add to a gentler descent.
WAG - Possibly with the payload delivery system slowing the dropped cable just enough to be effective.
Here's the kicker:
"while at a moment's notice the propulsion unit can be remotely started, the tether can be released, and the Argus Hybrid can function as an unmanned airship capable of surveying hundreds of miles of terrain".
:>) and that's what it's all about. Congratulations.
$2.12 now-oops. Still, you made a profit.
May not go below $2.15, at least for a while. Europe could implode everything eventually.
The only reason I can see it going higher on this news is short covering.
Liberty Media (LMCA) in Deal for 302M Shares of SiriusXM (SIRI); Would Raise Stake to 45.2%
Bloomberg reporting Liberty Media (Nasdaq: LMCA) is in a pact for 302 million shares of SiriusXM (Nasdaq: SIRI) at forward $2.15 per share. The deal would boost Liberty Media's stake to 45.2 percent.
Thanks BBB
Liberty Media Corporation Application Dismissal-Oh yeah.
Federal Communications Commission
Washington, D.C. 20554
DA 12-717
May 4, 2012
Robert L. Hoegle
Nelson Mullins Riley & Scarborough LLP
101 Constitution Avenue, NW
Suite 900
Washington, DC 20001
Re: IBFS File Nos. SES-STA-20120320-00280, -00281, and -00282; SAT-STA-20120320-
00054, -00055, -00056; Experimental License File Nos. 0007-EX-TC-2012, 0008-EX-TC-2012,
0009-EX-TC-2012
Dear Mr. Hoegle:
On March 20, 2012, Liberty Media Corporation (“Liberty Media”) filed the referenced
applications for consent to transfer de facto control of Sirius XM Radio Inc. (“Sirius”). For the
reasons stated below, we dismiss the applications as unacceptable for filing.
In 2009, Liberty Media acquired series B-1 and B-2 convertible preferred stock in Sirius. The
stock is convertible to common stock that would represent an approximate 40 percent voting
interest in Sirius. Liberty Media contemporaneously entered an Investment Agreement with
Sirius, which, among other things, contained provisions that restricted Liberty Media from taking
certain actions with respect to Sirius (the “Restrictions”). On April 20, 2009, Liberty Media filed
a letter with the Commission citing the Investment Agreement and the Certificates of
Designation relating to the preferred stock, and stating that it would not seek to exercise de facto
control over Sirius.1 The Restrictions expired on March 6, 2012.2
Liberty Media’s applications seek approval for a transfer of de facto control based upon the
expiration of the Restrictions. Liberty Media stated in its applications that Sirius would not
provide Liberty Media with its passwords, signatures and other information required to file an
electronic transfer of control application.3
1 See Letter from Robert L. Hoegle, Counsel to Liberty Media Corporation, to John Giusti, Acting Chief,
International Bureau, Federal Communications Commission (Apr. 20, 2009) (stating that consistent with the
Investment Agreement, Liberty Media “will not exercise de facto control over Sirius and ha[s] no intention of doing
so.”)
2 Letter from Robert L. Hoegle, Counsel to Liberty Media Corporation, to Mindel De La Torre, Chief, International
Bureau, Federal Communications Commission (Mar. 6, 2012).
3 Liberty Media filed the referenced IBFS application using the form for a request for special temporary authority,
rather than for a transfer of control, and did not request a waiver of section 25.112(a)(1) of the Commission’s rules,
which states that an application is unacceptable for filing if “the application is defective with respect to
completeness of answers to questions, informational showings, internal inconsistencies, execution, or other matters
Federal Communications Commission DA 12-717
On March, 30, 2012, Sirius filed a Petition to Dismiss or Deny Liberty Media’s applications
stating that there are deficiencies in Liberty Media’s applications and with their filing that
warrant dismissal. Sirius points to the fact that Liberty Media could not secure the signatures
and information needed from Sirius as providing “clear evidence that both a majority of Sirius
XM’s board of directors and its management dispute Liberty Media’s assertion that the
expiration of certain provisions of the Investment Agreement … results in a de facto transfer of
control of [Sirius].”4 Sirius notes in its Petition that now that the Restrictions have expired there
are several actions that Liberty Media could take to move towards gaining de facto control of
Sirius, but Liberty Media has neither taken those actions nor indicated that it proposes to take
those actions.5 On April 12, 2012, Liberty Media filed an Opposition and provided evidence
that, based on prior Sirius shareholder voting behavior, if Liberty Media converted its Preferred
Stock to Common Stock, Liberty Media’s interest would be sufficient to determine the outcome
of matters submitted to a shareholder vote.6 On April 20, 2012, Sirius filed a Reply to Liberty
Media’s Opposition.
We find Liberty Media’s applications to be unacceptable for filing because they are defective
with respect to “execution” and “other matters of a formal character.”7 Specifically, Liberty
Media was unable to obtain the passwords, signatures, and other necessary information from
Sirius to properly file an electronic transfer of control application. Furthermore, we conclude
of a formal character.” 47 C.F.R. § 25.112(a)(1). The Experimental Radio Service also has a rule which states that
“applications that are defective with respect to completeness of answers to required questions, execution or other
matters of a purely formal character may … be returned to the applicant with a brief statement as to the omissions.”
47 C.F.R. § 5.65(a). Liberty Media requested a waiver of this rule in its Experimental License transfer of control
applications.
4 Sirius Petition to Dismiss or Deny at 1-2.
5 Id. at 20 (“Liberty Media now can enter into or seek to enter into a merger, acquisition, asset sale, or other business
combination, but it has not done so, nor has it proposed to do so. Liberty Media now can seek to control the
management, board of directors or policies of Sirius XM, but it has not done so, nor has it proposed to do so. And
Liberty Media now can join a “group” with respect to the voting securities of Sirius XM, call a meeting of the Sirius
XM stockholders, initiate a stockholder proposal, or solicit proxies to vote with respect to Sirius XM securities, but
it has not done so, nor has it proposed to do so.”) (emphasis in original).
6 Liberty Media also provided documentation related to the 2009 Investment Agreement, including: the Investment
Agreement (submitted to the Securities and Exchange Commission as Exhibit to the Sirius Form 10-K for the year
ending December 31, 2008), the Certificates of Designation regarding Series B-1 of Preferred Stock issued to
Liberty Media, the Certificates of Designation regarding Series B-2 of Preferred Stock issued to Liberty Media, the
April 20, 2009 Letter to the Acting Chief, International Bureau, the Amended Certificate of Incorporation of Sirius
and the Amended and Restated By-laws of Sirius.
7 See supra n.3.
2
Federal Communications Commission DA 12-717
that a waiver of basic filing requirements is not warranted, as the facts disclosed in the
referenced applications are not sufficient to establish that Liberty Media intends to take actions,
such as conversion of preferred to common stock and installation of a board majority, that would
constitute exercise of de facto or de jure control.8 We therefore dismiss Liberty Media’s
applications.
Sincerely,
Roderick Porter
Julius Knapp
Deputy Chief, International Bureau
Chief Engineer,
Office of Engineering and Technology
CC:
Richard E. Wiley
Wiley Rein LLP
1776 K Street, NW
Washington, DC 20006
8 Cases cited by Liberty Media do not involve, as here, unconverted rights with respect to voting for directors, and
thus do not require a different result. See, e.g., Liberty Media Opposition at 11-13, citing General Motors Corp. and
Hughes Electronics Corp., Transferors, and the News Corporation Limited, Transferee, 19 FCC Rcd. 473 (2004)
(100 percent change in voting shares; proposed de facto control by one of the new owners indicated by 34 percent
common stock holding) and News Corp. and The DIRECTV Group, Inc., Transferors, and Liberty Media Corp.,
Transferee, for Authority to Transfer Control, 23 FCC Rcd 3265 (2008) (proposing transfer of 40.36 percent
common stock).
Control person didn't show, just the home page. do you think La Jolla? Are they considered unaffiliated?
and no gap.
Today just got very interesting!179,000 @ .045
Jacked, thanks for the response. LJ is what I was was thinking too.
As far as them selling into the market. Yes it will hit the SP, but depending on the nature of news volume can be in the 10's of millions of shares or more. I've seen this happen several times in my 27 years of investing. Even heavy selling positions are overwhelmed and the SP increase is substantial. Those that wait to buy are usually canceling and raising bids on orders several times in order to be filled unless they are market orders. It even happened to this stock in the 2005 hot air fiasco. This time it won't be hot air if and when it happens.
Glad someone else posted it, thought I'd missed something when I posted a link earlier as a result of an alert.
"Missed this yesterday - S1 is now effective".
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75132977
Once again, anybody know who the "certain stockholder" would be? Or is that a generic statement?
(3) This Registration statement covers the resale by a certain selling stockholder of up to 50,000,000 shares of common stock that may be acquired pursuant to a convertible debenture that was issued in a private placement that closed on February 2, 2012.
S1a filing, raising capital:
http://www.docstoc.com/docs/119972980/SANSWIRE--S-1A-Filing
(3) This Registration statement covers the resale by a certain selling stockholder of up to 50,000,000 shares of common stock that may be acquired pursuant to a convertible debenture that was issued in a private placement that closed on February 2, 2012.
As if you guys didn't have enough to talk and rant about, kind of entertaining really.
(I need to find the time to play with a graphic and upload it for you Jacked, it describes me but I'll share).
Explaining how to manipulatively drive a SP down is not something, I for one, would welcome on any board.
Liberty filing in response:
http://licensing.fcc.gov/cgi-bin/ws.exe/prod/ib/forms/reports/related_filing.hts?f_key=-240362&f_number=SESSTA2012032000280
The precedents Liberty presented seem compelling. This mud soap is starting to get thick.
In my opinion you have wasted your years following the investors in this company.
I can tell you HDSN was on the lower ask yesterday.
FWIW:
http://www.whitehouse.gov/the-press-office/2012/03/16/executive-order-national-defense-resources-preparedness
The concept of Martial Law kept coming to mind while reading some of this. Probably my own mental aberration effecting me.
You might want to add the proverbial "IMHO" after that line.
"The .09 target price for additional funding is not attainable except for a reverse split".
Like you can be held accountable for your prediction of this companies demise that seems to never happen. C'mon Cole, when is this company going belly up! You said you were not afraid to answer, so answer already.
Positive predictions? the things I mentioned aren't predictions, they have come to pass.
As far as your wanting longs to predict when the contracts come...if we knew the future nobody would invest until right before the contracts hit. You keep saying never going to happen based on a completely different set of people who went to jail. You always speak in generalities when mentioning scam yet you come up with 0 particulars based on current events.
My advice is for you to never invest in an R&D company again. You do not have the constitution to face losses. You can rightfully blame past management for your losses but you haven't one single thing on current management or their business plan.
The only scam I see is you continually twisting reality to suit your agenda.
Cole, how about you have the confidence to predict when this "proven scam", as you so erroneously put it, ceases to exist. How do you combine present management and their efforts to somebody who was jailed? Was the present management jailed? Is the airship being tested by the DOD or not. Have filings been done or not? Has financing been put in place or not? Name one thing that CURRENT management has been convicted of running this company.
You really do not have a freaking clue as to what you are talking about, but that is normal for somebody who disconnects from reality.
Smell the coffee, your party was over some time ago.
Yet according to you and others like you, those shares will be worthless.
You make no sense.
Now you're getting it.
How are you going to feel if contracts come through Cole? It must be eating you up that this group of present, (as opposed to past), management is moving forward quit unlike the past management. Of course to you it's more of the same.
Really.
How myopic.
Wrong again Cole.
DOD doesn't have to be lobbied, we're already there.
New form D? or am I behind again.
http://ir.stockpr.com/wsgi/sec-filings/content/0001144204-12-009638/formD.html
The Company paid Vista Capital Investments, LLC, a consultant to the Company, a finders' fee of $40,000.
11. Minimum Investment
Minimum investment accepted from any outside investor $500000 USD
They are in jail.
you must not have been paying attention, settlements were paid long ago.
Not another blast from the past. Like was suggested earlier, you have a lot of reading to do. Start with getting to know current management. Then follow what they have done to correct old managements screw ups to get this R&D company were it is now. You are trying to compare road apples to oranges like a couple of old loss holders that still post here.
TDA doesn't have it, that is a very impressive number.
Gone now, maybe a signal?
DOD contract would mean those who waited to buy will be putting in bids - and canceling them to keep up with the higher bids. Many will have to do this many times before they get their shares. Seen it many times with many stocks that had excellent news.