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DRIO CEO just stated FDA approval is POSSIBLE in 2015, hardly imminent IMO.
Are the DRIO shares trading on boerse-berlin exchange subject to the R/S as well??
http://www.boerse-berlin.com/index.php/Shares?isin=US50544T1043
The way I read it, the new investor(s) are stacking the board to control how the new capital is allocated. They will potentially hold 60% of the O/S soon which in itself is majority control. Smart IMO.
I agree that the new investors will hold a majority of their shares but a retail stampede for the exit will likely take place near term. It would only take a few million shares dumped and/or short to do PPS damage this week. Regardless of what happens this week, one could speculate on several profittable outcomes here!
Whatever happens it will be an exciting ride for the next couple weeks and I will take full advantage of what I think is really happening here.
Good luck
Interesting.
LabStyle issued shares of preferred stock which are convertible at any time into an aggregate of 53,418,264 shares of common stock based on a conversion price of $0.07928 per share, representing a 20% discount to the volume weighted average of LabStyle's publicly traded common stock for the period from August 21, 2014 through September 22, 2014 (which equaled $0.0991). Such conversion price is not subject to any future price-based anti-dilution adjustments. The preferred stock does not carry any fixed coupon or dividend rights and votes on an as converted basis with LabStyle's common stock. If the preferred stock were converted immediately, the investors in this offering would hold approximately 40% of LabStyle's primary outstanding shares.
The warrants issued in the financing are exercisable for an aggregate of 26,709,132 shares of common stock (or 50% warrant coverage) at a price of $0.0951 per share for a period of four years from closing. Such exercise price is also not subject to any future price-based anti-dilution adjustments.
If the new financiers convert the new preferred shares and warrants immediately they would hold 60% of the O/S.
Well said viridian. The company made public on June 30th that the board had approved a 1 for 5 reverse split so no one can say they are surprised by today's announcement.
When the O/S and A/S are virtually the same something dilutive has to happen and it did today. Individuals offering up the positive spin will be the first out the door tomorrow morning, that's the game we all play with DRIO.
The issuance of 49 million shares a couple weeks ago tanked the PPS from .80 to .05. Today's announcement of an additional 40+ million shares will likely have exactly the same effect... that's why the news dropped after hours.
Short term pain though as I truly believe the company will succeed and recover.
Good luck
Perfect attitude, hopefully it holds but if not lesson learned.
I will be freeing up cash to load the newly delivered shares because I believe DRIO is solid long term and the financing announced after hours today is likely the last the company will ever need with solid revenues forecast for 2015.
Good luck TP, I hope I'm wrong about the short term PPS.
Sumo
Seriously?? Is anyone actually suggesting DRIO will forward split and take a stock that was trading at $3.00 recently down to .02??
This R/S is very bad for anyone holding, outstanding for those of us waiting for the discount new shares.
I warned everyone the R/S was just around the corner but got attacked for it. An expensive lesson for many.
DRIO
QRHC- Not yet. A break and close above 1.86 tomorrow should bring the grin by Friday.
QRHC Bounce play.
Bounce play, I'm in 1.69 to start.
Cannot find anything that would justify the huge selloff.
QRHC
Stopped out 15.25, left a few bucks on the table.
JDST
Rolled the dice and grabbed some 14.99's pre-market.
JDST
You were saying?? Gold at 1232 this morning.
JNUG just put in a new 52 week low and ALL TIME low since inception today, sure makes timing a bottom more difficult.
Today's low of 12.60 would have been a 65% retracement from recent highs at 36.00, how many juniors could survive the winter with Gold hovering at or below 1200??
Given that NUGT/JNUG tanked even when Gold was flat or slightly up would suggest further pain for the miners, especially if we see 1190 Gold that many are calling for.
$USD not showing any signs of weakness and still putting in higher highs. With so many headwinds it would take a MAJOR geopolitical crisis to get Gold turned around anytime soon IMO.
I got me arse handed to me today betting on an early technical bounce today, hope you did better.
Sumo
Nice bull pennant forming here this morning, watching this one.
CJJD
Let's see if GDX holds at 21.93, if not it's curtains for NUGT/JNUG.
Not even a hint of resistance at the 200DMA, miners will begin high grading and junior CEO's will be polishing up resumes if this continues.
Congrats on the JDST. JNUG has re-traced almost 65% from recent highs around 36.00 so I gambled that the bottom was near.
JNUG could see single digits if Gold breaks 1200, just plain ugly.
Man, another relentless beat down on miners considering Gold is basically flat. Short interest must be up around 85% today.
I couldn't have been more wrong about today's action and it cost me $1.3K.
JNUG
Gambling play but I grabbed 14.00's and 14.17's here after taking a loss on Friday's buys.
JNUG
EDIT- stop set for 13.85, not looking good.
Snuck out of JDST pre-market for a loss at 15.06, looks like 1200/1180 comes today and before weeks end.
EDIT- back in 14.00 even with a tight stop
Silver fell off a cliff at the open, let's see if Gold follows.
Looks like sub 1200 Gold is probable, not good for my new JNUG starter position.
Congrats to all DUST longs still holding
Ahhh, then it's only down 78% since Wednesday.
ELAY
1 for 500 split would have left the new ELAYD share PPS at .05, it closed Friday at .0047.
New shares started trading on Wednesday but of course only Sergio and his buddies get new shares to short back down to .0003+- for the next pop before returning to home base which is always .0001.
ELAY is THE scam of scams, website is expired, no business, no office, no phone, no ANYTHING but R/S's and billions of shares to short.
How they continue to get approval for rapid fire R/S after rapid fire R/S is beyond me. Corruption at it's finest!
Did ELAYD execute a 1 for 500 split? If so, it's already down another 92%.
ELAY
Why do you keep referring to Harmon? It was my understanding he resigned over two years ago and never returned.
Sergio Pinon is the perp here.
ELAY
$USD has been overbought for weeks and JDST/NUGT oversold IMO.
I'll gladly risk $3K+- if it pulls back to 13.00 range for a chance at $20K plus to the upside.
I like this lotto play!
Added 500 more, 1250 @ 15.22 avg. now.
NUGT and JNUG charts screaming for a reversal, i think we'll be Golden by next Friday.
Have a good weekend,
Sumo
Agreed. I grabbed 750 JDST and waiting for a fill on NUGT as well.
Thanks,
Sumo
What do you think Kap, NUGT or JNUG for the ride back up?
Sumo
I tried to short DUST a half dozen times today but couldn't get any shares. DUST is overbought and ripe for a pullback IMO.
Good luck
My first limit buy set for 27.02, come back and get me MM's.
I've been calling for a possible 1180 bottom in gold but technicals look ripe for a reversal here IMO.
Will it see another hard rejection there? I think so.
DUST.
Agreed, new lows and from a first time ever poster.
DRIO
Got stopped out yesterday morning but looking for a re-entry in the 24's.
With the current fundamentals and a market cap of only $69 million AMBS is THE MOST UNDERVALUED stock on the OTC today.
Regardless of where the PPS goes in the next couple weeks AMBS will recover to .20 near term. A PROPORTIONAL R/S at that level would put the PPS at $2.00-$4.00 while reducing the A/S back down to 200 million or even 100 million. Why is anyone concerned about a short term increase in A/S when it creates ABSOLUTELY NO MORE opportunity for dilution??? It is completely unnecessary given that AMBS has $18 million in financing with the current share structure to carry it into 2016.
It all comes down to the uplist now IMO, if it comes before before January 2015 we are in a strong position (as per Gerald's blog) and if it is postponed then we have reason to be concerned. Why put the cart before the horse when fundamentals continue to improve and milestones continue to be met???
Progress happens on FDA timelines, not "I need huge profits yesterday" timelines.
The patient and well informed will get the last laugh here.
GO AMBS
Kudos and a member mark for your honesty! DRIO was sweet and juicy at .19 but is getting dry and pulpy down here in single digits.
Good luck to all the believers and holders
The peeps calling for AMBS at .07 or lower are in fact the ones buying all the .08's they can get. The deception game is very transparent here.
I added 155K shares yesterday and today and will continue to add as many as I can on every dip below .10. The big picture has not changed one iota and even the AMBS fear mongers know this is going back to .20 before year end. They will tell us so very soon as they have 20 times before.
AMBS on track
AMBS in the .08's??? What did I miss?
Major chart damage has occured if this closes out the week in the .08's or lower.
Looking for a re-entry point down here.