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dont panic on new pr not more dulution. actullay sounds like good news that they want to exchange for stock. On July 10, 2013 we issued 5.5 million shares of our newly created senior mandatorily convertible preferred stock pursuant to the agreement described in Item 1.01in exchange for $5.5 million aggregate principal amount of subordinated promissory notes issued by us. The preferred stock will convert into the same units issued in our June, 2013 public offering at a conversion price equal to the public offering price of $0.12 per share
what does the dollar sign mean by the name of people????? are they paid pumpers!!!
do not buy !!!ceo is a crook!!!i get my money back. some fool get all my shares!!!! thank you andy!!!!!!!!!!!!!!!!!!!
companys to compare this to http://ih.advfn.com/p.php?pid=squote&symbol=mos http://ih.advfn.com/p.php?pid=squote&symbol=ipi ipi is about closet i found. 1.4 billion market cap.
The notice of effectiveness is a public declaration by the Securities and Exchange Commission that a public company's registration statement has been accepted.
For shares in a public company to trade on the open market they must be registered by the company. These registration statements are reviewed by the Commission for a period of time before approval is given, and this notice marks the successful completion of this review process.
yea , September ...
they have till October to comply
SO WHAT SHOULD BE THE MARKET CAPon a start up company like this. does anyone have anything to compare this to.
what if analyst post a buy rating on this... to the moon.
in english
thats low. but sounds safe.
im not a chart man , explain this please.
yep , wee. what should i put my sell order at. any suggestions
they already know there is tons there. the pfs is to see how and how much money its going to take to process it and sell it. hence the word feasibility.
true , thats what i was thinking. cause they usally put out bad news after close.
july 22nd, anyone have any takes on whats going to happen there. i know they are going to release study before that date. so what yall think. they have good news and are going to talk to more investors that day to get it up and running or ... whats yalls opinion
pgrx nasdaq open
why its not going lower this is not a pink sheet stock! there is not billions of shares out. even if r/s happens there is no room for it getting any lower. today's dump was on purpose or was just scared investors. thats why it did not go very low and not much volume. did anyone read the news, all of it. if company r/s goes thru there is only going to be like 2.3 million shares out. does anyone realise how low that is for a nasdaq stoke or any stock for that matter. the market cap for this thing cant go much lower unless they have bad news, they would have to come out and say there is no potosh in the ground or something... all im saying is that even at .9-.10 a share this is bottom. market cap is bottom. r/s wont do much more damage.
"The principal effect of the reverse stock split would be to reduce the number of issued and outstanding shares of the Company’s common stock from 115,119,415 shares to 2,302,388 shares, based on a 50-for-one exchange ratio. As such, each stockholder holding 50 shares of the Company’s common stock immediately prior to the reverse stock split taking effect will become a holder of one share of our common stock after the reverse stock split is consummated."
once pfs out this month will jump back to atleast 12 , then back down around 10
it has no exact date yet, they may postpone if u look the date is not even filled in.
To Our Stockholders:
You are cordially invited to attend the annual meeting of the stockholders of Prospect Global Resources Inc. (“Prospect” or the “Company”) on August , 2013, or at any adjournment or postponement thereof, for the following purposes:
1. To elect six directors for a one year term expiring at the 2014 annual meeting of the stockholders, or until their successors are duly elected and qualified;
2. To authorize our board of directors to implement a reverse stock split of up to 50-for-one;
3. To approve the conversion of $5.5 million of preferred stock held by two of our stockholders into the same units issued in our June 2013 public offering;
4. To conduct an advisory vote on executive compensation;
5. To conduct an advisory vote on the frequency of an advisory vote on executive compensation;
6. To approve amendments to Prospect’s Employee Equity Incentive Plan and Director and Consultant Equity Plan to increase the authorized number of shares under the two plans; and
7. To transact such other business as may properly come before the meeting.
Details relating to the above matters are set forth in the attached proxy statement. All of Prospect’s stockholders of record as of the close of business on July , 2013 will be entitled to notice of and to vote at such meeting or at any adjournment or postponement thereof.
All stockholders are cordially invited to attend the meeting. If you do not plan to attend the meeting, you are urged to sign, date and promptly return the enclosed proxy. A reply card is enclosed for your convenience. The giving of a proxy will not affect your right to vote in person if you attend the meeting.
The board of directors intends to send these proxy materials to stockholders on or about August , 2013.
its supposed to be voted next month and its up to a 50 to 1 could be less
stop loss triggered on that 900k market bid order. going back to 9 cause high asks . would have been nice to had an order at 8
yep panic sale , back to mid 9s
thought it was 12 cents a share...As described in detail in our Annual Report on Form 10-K, we are a development stage company engaged in the development of a potash mine in the Holbrook Basin of eastern Arizona. Our business plan requires us to raise significant amounts of capital in order to develop this project. In May, 2013 Very Hungry and the Reiman Trust loaned us an aggregate of $5.0 million and received from us subordinated notes in an aggregate principal amount of $5.5 million. In consideration for the subordinated loan we reduced the exercise price on warrants to purchase our common stock held by the lenders to $0.30 per share (in each case from exercise prices ranging from $4.25 per share to $3.00 per share) and extended the maturity of all such warrants to August 1, 2017. The subordinated notes bore no interest and matured on September 9, 2013. In July 2013 we exchanged the subordinated notes into an aggregate of 5.5 million shares of our senior mandatorily convertible preferred stock.
think people pulling out to get into gold short time. think there is room for gold to bounce today maybe 5%
this pos ceo should be in jail!!!goth boy is the scum i wipe off the bottom of my boots!!!
this is a dead dog!!! just like flip!!! scott should be in jail!!!
r/s will happen. dont trust this co.this reminds me of the bush fix in florida
anyone want 2million at .0001.
if they had tommy chong to pump this that would be cool!! cheech too.
this is going to .0004.
when in the hell are we going to get whats left of pos shares!!! eric nice house in kingwood!!!
October 22, 4:53 pm | By Eric Min
China signs potash deal with US miner
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0 0 0 Google +10
Denver-based Prospect Global Resources Inc (NASDAQ:PGRX) has signed a 10-year, $2 billion potash supply contract with a state-owned Chinese chemical company, guaranteeing China a steady flow of the crucial fertilizer.
Under the agreement, Sichuan Chemical Industry Holding Co., will buy at least 500,000 tons of potash annually over 10 years starting in late 2015.
The deal will help Sichuan Chemical, one of China’s largest fertilizer producers, to supply a growing need for potash, one of the most-important fertilizers for farmers.
This year’s drought in the U.S. cut grain production, contributing to higher prices and adding pressure on the world’s food reserves. China is seeking similar deals to help secure food for the world’s most populous country, the companies said in a joint statement.
Prospect Global will sell the potash to Sichuan Chemical from its American West Potash project in Holbrook, Arizona, which is estimated to have the largest potash reserves in the United States with nearly 40 years worth of supply.
But the company has yet to obtain financing or regulatory permits to develop it, according to the Wall Street Journal. The tiny firm said it expects the project to generate 700 jobs.
On the other hand, the deal is part of a Chinese trend to partner with small mining companies for lower potash prices. At current market prices, the Prospect deal is worth roughly $2.4 billion.
China has been aggressively negotiating for lower prices with Canpotex Ltd, the marketing agency that sells Canadian potash, Reuters reported. Canpotex, owned by Potash Corp, Mosaic Co, and Agrium Inc, is one of the world's largest potash exporters. According to Reuters:
So far neither Canpotex nor China has been able to agree on a price, and a deal isn't expected until the end of 2012 or early 2013. The Prospect deal gives China some leverage in negotiations as it will be less reliant on Canpotex for supply.
China paid $470 per ton under previous contracts with Canpotex and wants to pay less in future contracts, according to Lazard Capital Markets analyst Edlain Rodriguez.
Potash, the common name for various mined and manufactured salts that contain potassium in water-soluble form, is produced worldwide at amounts exceeding 30 million tons per year, mostly for use in fertilizers.
- See more at: http://www.morningwhistle.com/html/2012/Company_Industry_1022/214717.html#sthash.GgxQu1hS.dpuf
this trash should be at 25.00!!!!!!!!!!!!
is there a chill on this!!!!
yea in 2015. time goes by fast.
so if i did my calculations correctly, that would make this a 10 dollar stock as soon as they up and running. calculating 140,000,000 shares times 1.5 billion profit off the one china deal. am i right or way off?
my fault, 150 million a year. profit. when company up and digging. green in first year.
so to my understanding is that its going to cost 98 bucks to mine 1 ton of product, and they going to sell for around 400. so if they have a deal for 2billion over 10 years then 75 percent that is profit. so they will be making 75 million a year profit just off that one china company. and more if they make more deals. so in first year minus money owed they will be in green.
yep, close at .09~