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.
What happens if they all sell their shares real quick, like it looks like they are doing, pack up their money and business and run, just in time for them to get delisted from NASDAQ.
Then they can just start it up on the Pink sheets and just start selling even more shares once they are on the Pink Sheets where noone really cares if they scam shareholders with continual false hopes and untold dilution.
I have always been cordial and polite when I have talked with him in the past.
I will leave that message the next time I call him; In a few minutes here.
I have called Peter's number at least 5 or 6 times since yesterday afternoon and he is NOT answering the calls - it keeps going to a message machine, and he, so far, will NOT return the calls. I have called Kate's number twice, and she has not returned the calls.
Interesting that some on these sites can get Peter to answer but when others want to confirm the rumors, Peter will not be available.
Also interesting that some of the pumpers here are always telling us, call Peter if you have so many concerns, but Peter will not respond - so very hard to do such.
That is exactly how I read it.
Has shown to be the case several times in the past: Peter assures me or some other shareholder that the company IS NOT DILUTING NOW, but then an S-8 or 8K comes out a month or so later showing how some lending entity was given MILLIONS of shares at a discount to what it had been trading at the month before.
Total word-play, which is really the only thing lawyers do - manipulate words.
Can anyone here define "IS"?, LOL
or better yet, "Tax"? That's a real doozie when you use the synonym "Penalty".
When you look at how MT worded that post, it appears very much that MT is making fun of everyone (he always talks about how the MB is such a joke) and that he is saying that there will be a buyback in an extremely facetious tone - as in we would be fools to believe that Peter is buying shares back, and he is having fun checking out how many peeps will fall for the rumor.
Why else would he be talking about windmills and golf outings etc.?
Be VERY careful with that info because is APPEARS that MT is just pulling peeps legs to poke fun at them.
I would be very cautious of falling for believing something like a buyback is happening. One might miss a few ticks, but I would not believe it until I saw a PR - NOTHING is real in penny land until you see it in a PR and then you better read between the lines extremely closely.
Better to miss a few ticks than to be in this POS when they halt it again for delisting or other negative news.
The ballot was changed right before the vote to allow up to 1:10, but knowing Peter, he has already found a way around that limit.
AS usual, Be VERY careful here!!!!
So, you like those 30,000 share hits at a time better?, LOL
One other thing to keep in mind when chartists are talking indicators. I notice all the time that they post the RSI is this, the MACD is this, blah blah blah, which really means absxolutely NOTHING unless they really tell you what they are looking at. Anyone who is interested in really giving information about what they are seeing should ALWAYS include the time frame of the chart (weekly, daily, hourly, 15 min etc.) they are looking at that indicator on, and the PERIOD of that indicator for it to have any inkling of meaning to the readers of the post.
So "RSI" should be stated as the "RSI(14) on the DAILY chart" is at xxx value which tells me xxx.
You notice that all our discussions in the last ten posts rarely indicated what period of RSI and on what time-frame of chart they were looking at. Thus, I responded in a very general manner when discussing the RSI.
To be honest, I was actually talking about the RSI(14) on a Daily chart being at <30 causing concern for BK, which the RSI(14) for SAPX's Daily chart is sitting at around 50 right now.
So beware of chartist's talk that don't really impart what they are actually seeing or talking about.
Bigdogs did indicate that he was looking at the weekly RSI - which I appreciated.
The values you are looking at, and about which you are talking change drastically depending on the indicator's period and time frame of chart.
To be honest, IMO, After studying the chart again, I think this has a decent chance of going back to .03 to .035 again before it makes its move back up.
That last filing really was a sock in the gut to those who were hoping that this was finally going to make a move back toward its stated book value of .25.
We just now have to wonder how badly that .25 book value will be diluted before we get our next upward move.
Will it be cut in half yet again with all the new shares issued?
OR will it only get a 20 to 30% cut in value?
NOT sure, because I do not know what Peter is doing behind the scenes to spend our equity value while he is telling us he thinks the stock should be valued (thus trading) higher.
It is very difficult to call a bottom.
There are at least 40 or so things to consider here.
Yes, according to the last filing where shares were converted as low as .02, it looks like we are close to the bottom, but every time we have gotten a filing showing shares converted or given at a price lower than the last time, we get another filing a month or two later, showing millions of shares being given at yet another lower price. We do not find this out until at least a month after they have been given, and of course the price has subsequently dropped to those prices - so beware.
However, as the chartists state, the chart looks very much like we are at a bottom, and history would tell us that this is likely to have a nice rebound from here - and I, for one, play the charts, with my eye on dilution and financing deals for possible new lows. All the while I make buy buy-in decisions from charts, after I factor in the dilutive deals.
I also stay aware that "RSI below 30" and a few other indicators here that look very indicative a an optimal place to buy, also can be warning signs of impending danger.
One excellent trader once posted that when he sees an RSI below 30, he gets very concerned about BK, and the company we were looking at did in fact go BK (but I had gotten out on his warning). However, RSI below 30 also ends up being a phenominal place to pick up overly beaten down stocks. I ignored the BK warning on an RSI <30 in a stock a bit later, and I ended up being in a BK company. OUCH!!!!
The point is, it all depends on how much risk you are willing to take to try to make nice profits.
If you are a nimble enough trader to watch for the signs and decide quickly the appropriate move to make, and IF YOU ARE WATCHING THE RIGHT SIGNS FOR THE PARTICULAR STOCK YOU ARE IN, you may have a good chance at making a nice profit.
That is what makes trading an art built on developing some skills in knowing how to read news, filings, and indicators.
Others also know how to get inside info, and become much more profitable if they know how to use it correctly, but that is a whole other story, LOL.
Let's talk a made up example:
Say the company owes someone $50,000.
The company, instead of paying with cash, pays with shares - "converts" that $50,000 to shares.
But, the shares to be paid have to be based on a value of those shares so they can calculate the number of shares to be given that will give that entity whom they owe a guarantee of getting $50,000 when that entity gets the chance to sell the shares (usually immediately upon conversion). Thus the shares are almost always valued at a discount to what the company's shares are selling at at the time, because when the shares get sold into the market, they will usually put downward pressure on the share price.
So, If the shares are selling in the open market at say .09, the company says we will give you 1,250,000 shares VALUED AT .04 (or conversion price of .04 because .04x1250000=$50000). The company has then paid what they owe (paid with shares) to the owed entity, and the owed entity can then go out to the open market and sell those shares however they want. If they dump them all at once, they could easily drive the price down to .04, but they are likely to be a bit more careful and sell in 3 or 4 chunks, to try to make a profit off of those shares in addition to getting what was owed to them. However, if the price gets close to the conversion price, they are likely to dump as fast as they can all the way down to the conversion price so that they are assured of getting at least what was owed to them.
And all along, the retail shareholders take the lumps as the entities get their monies.
You must be referring to the dilution info below.
Yes it should stay as a sticky note for sure.
At the end of march 31 2011 they had 26K in cash. At the end of march 31 2012 they had a negative balance of cash. At the start of this past reported Q they had 7,798 in cash and at the end of the most recent Q they had negative 25,267 in cash. The sad part of that is they have sold 10's of million of shares and their cash on hand has not only NOT improved but now showing negative.
This is right from the Q.
CASH AT BEGINNING OF PERIOD $7,798 $ 26,818
CASH AT END OF PERIOD $ $(25,267 ) $ 26,574
Then look at this from the Q, More shares that are supposed to be issued for debt.
The Company has evaluated these convertible notes for embedded derivative features and has determined that no derivative liability exists. Assuming all notes are settled via common stock, the number of shares to be issued to satisfy approximately $3,727,660 of debt plus accrued interest is approximately 17,653,000 shares of the company’s common stock .
This is all they do is issue shares for debt. Every Q there are more shares and more shares issued.
Then we have this
The Company converted $2,963,028 of the film and production loans into 5,989,349 shares of common stock during the three months ended September 30, 2011, $906,000 of film and production loans for 3,490,385 shares of common stock in the 2 nd quarter ended December 31, 2011 and $943,580 of film and production loans for 6,749,658 shares of common stock in the 3 months to March 31, 2012.
Just look at this rate of dilution
Between October 1, 2011 and December 31, 2011 the Company issued 11,470,808 shares. The total number of shares outstanding on December 31, 2011 was 22,620,288.
Between January 1, 2012 and March 31, 2012, the Company issued 19,348,684 shares at an average price of $0.19 per share. The total number of shares outstanding on March 31, 2012 was 41,968,972. (See Subsequent Events Note 13 for stock issuances subsequent to March 31, 2011).
Then look here in May
Total shares outstanding as of May 10, 2012 was 68,090,174. (including 2 million shares issued to SAP Plc.)
Two months later its up another 36 million shares.
Now as of the 8K today
As of June 30 2012 (the Company’s financial year-end) , the Company had 96,793,011 shares in issue. Since the last reported number of shares on May10, 2012 in the March 31 2012 10-Q , the Company has issued the following unregistered securities.
Its increased another 28 million.
Give me a break this is printing faster then the dallas morning news. The sad part is they did a RS last year and the OS was 2.5 million shares. So the shareholder equity here is maybe .25 a share and that is if we do not see any more dilution. But looking at the current shares still need to be issued for debt that number is going to continue to go up. Tell me what about this balance sheet looks good again.
Just look at the 8K today at the new shares to be issued
New Stock Issuances from May 10, 2012 through June 30, 2012
6,659,364
common shares were issued in satisfaction of $240,000 of film loans previously converted at an average conversion price of $0.04/share. (high of $0.09 and low of $0.02)
18,109,801
common shares were issued in satisfaction of the $796,152 of newly converted debt at an average conversion price of $0.04/share. (high of $0.08 and low of $0.04)
2,568,383
common shares were issued in satisfaction of $200,000 of existing overhead liabilities (loan interest) at an average conversion price of $0.04/share
I think the very sad part is that the CEO keeps releasing the same hold hashed over news or fluff. The more share issued the equity keeps going lower and lower. Remember they have up to 250 million shares they can issue and from the looks of it they are going to keep issuing shares. Nothing would indicate they are not.
The dilution is non stop with this. I have yet to see a 10Q of 8K that did not have a huge increase in shares in the last year. So if you can count on management not to issue one more share you are correct its worth a bit more here but how can anyone trust this management when they are diluting 20-25 million shares at a clip here.
http://ih.advfn.com/p.php?pid=nmona&article=53569416
Seven Arts Entertainment Inc. (“Seven Arts” or the “Company”) announced today that Seven Arts Pictures Louisiana LLC (“SAPLA”) has filed both an audit with the Louisiana Department of Economic Development of its film infrastructure expenses at 807 Esplanade Avenue in New Orleans, Louisiana (“Property”) and a compilation with the Department of Parks, US Department of Interior and the Louisiana Historic District Commission of its historic rehabilitation expenses in connection with the Property. Seven Arts will be entitled to receive on or before December 31, 2012 from SAPLA approximately $8,800,000 of Federal and Louisiana historic rehabilitation tax credits and Louisiana film infrastructure tax credits earned by SAPLA based on the audit and compilation. The Company expects to realize the cash value of these tax credits by assignment to third parties at discounts customary in the market, but which should result in receipt by Seven Arts of in excess of $8,000,000.
As has been previously announced, the Company intends to operate through an affiliate a full service production and post-production facility at the Property. The Company expects to commence full operations at the Property in September, 2012 for both its own productions and third party productions filming in Louisiana under Louisiana’s successful film investment tax credit provisions.
Shares in Issue.
As of June 30 2012 (the Company’s financial year-end) , the Company had 96,793,011 shares in issue. Since the last reported number of shares on May10, 2012 in the March 31 2012 10-Q , the Company has issued the following unregistered securities.
New Stock Issuances from May 10, 2012 through June 30, 2012
6,659,364 common shares were issued in satisfaction of $240,000 of film loans previously converted at an average conversion price of $0.04/share. (high of $0.09 and low of $0.02)
18,109,801 common shares were issued in satisfaction of the $796,152 of newly converted debt at an average conversion price of $0.04/share. (high of $0.08 and low of $0.04)
2,568,383 common shares were issued in satisfaction of $200,000 of existing overhead liabilities (loan interest) at an average conversion price of $0.04/share
AMAZING!!!!!!!
I just wonder what they are doing on this attempt to get peeps to buy in on this week's news. I bought before the news, expecting a smooth move above .10, but it has been a disappointment. I find it amazing that we had volume of over 15Mil yesterday and only moved ONE penny.
And we have been told this will move when volume comes in - but Peter just will NOT STOP selling shares (or providing shares to others to be sold) into any move.
That has MAJOR inaccuracies.
The last two earnings reports were losses, and the ER prior to those losses, SAPX had earnings of .77/share, at which time we were at something in the neighborhood of 6.3 Million shares outstanding (if my memory serves correctly). That .77/sh has been diluted down to less than .07/share by bringing the OS count to over 70 Million shares (The definition of dilution). And THAT OS count was at the last update over a month and a half ago. It has likely been diluted even more since then.
And again, we had two subsequent quarters of losses - so SAPX in no way has "earnings per share of $1.25".
OH MY!!!! Let's update that:
Needs to close above .052 to maintain the momentum, IMO.
If it could move on up and close at or near the high of the day - that would give us a HUGE upward push through tomorrow morning.
If it closes around .052 or above, I will be looking for a pullback in the morning to buy back some shares.
If it closes below .0505, I'll be VERY nervous on any pullback tomorrow.
All I said was
That interview did not do the trick.
Found it.
Yes. It looks exactly the same as it did at the beginning of April.
What has the stock done since the beginning of April???........
Gone Down, DOWN, and MORE DOWN!!!!!
From .17 to .035.
Hmmmmm, Don't think that one helps much, LOL. UNLESS, of course, I wanted to SHORT this POS.
OK, I think you are trying to be positive, but that post just sounds SCARY!
What is "crashing mews"?
Is that supposed to be crushing news? or something else?
Please clarify.
I'm hoping this POS is gonna get something positive (newswise) to support the strength that has started to build this last week.
After the 4th huh?
I was thinking this week. I may be a bit early then.
Hey Joe,
Are you still in SAPX or did you flip out of it last week?
OK let's try to think positive today, (hard with this POS, but let's give it a try).
Today is the day it is gonna break .05.
How much it goes after that I won't venture a guess, but I sure hope it goes a bit further than .052, LOL.
Not yet, it is still available....possibly.
That is, IF you really want it.
Bid .0405
Ask .0426
What are you seeing?
Man, did you see that?
Someone put up a bid for 100,000 and it got knocked down in just 2 seconds flat.
There are definitely UNIMITED numbers of shares available in this POS.
Now, 500,000 on the ask. Peter is such an SOB!!!!!
Have you not noticed all the RED FLAGS with this company?
Have you not noticed that this is a VERY UNHEALTHY company with a destructive management team who do everything they can to destroy share value?
You can try to play it for possible upturns, but until they can give DETAILS about how and why shareholders should trust this company, I would suggest BE VERY CAREFUL!!!!!
Yes definitely.
A daily RSI(14) of less than 30 is oversold but not necessarily a buy signal.
A buy signal IF the stock is otherwise a healthy stock, which SAPX is NOT.
The other possibility could be as you have stated.
I have been watching the RSI closely here because I was once told by a great trader that in an unhealthy stock, when the RSI drops below 30, that also carries a very high probability of BK. Basically, toxic financing (such as death spiral financing) carrying it too far for the company to ever recover.
Sounds like we are looking at the same charts. Yes today WOULD BE the crossover, and a buy signal, but for two possible exceptions:
1) If today, the price again drops precipitously down to say, around .06 or less, the crossover will not happen for another day or two.
OR
2) If the crossover turns into another overrun like it did in March. Then this could just be another signal to head out of town because this is not going anywhere for a while longer, possibly never.
Now, if the price begins to stabilize today and Mon., and it does not drop, the crossover will happen today and it will signal a buy. The buys have become VERY short-lived, so again I warn others - be very nimble!
Level 8, Obviously, LOL
I do believe that the time to buy, IF there is another time to buy, will be in the next three days. Have to watch the chart.
I hope it plays like it should, and does not push the time to start buying out longer than necessary, as it did a month or so ago.
The chart is getting ripe and ready for the buys UNLESSthey finally tell us the bad news we are fearing, then it is gonna big the next BIG DUMP.
Well, that is a bit of a pipe dream, but it COULD happen, and if it does - great for Peter to figure his way out of this seemingly endless tunnel of darkness. I still think he has done an abhorrent job at managing this company and its equity. The dilution after the RS was despicable. Many of us here have been warning continually of this misuse of share equity to only be told it wasn't happening, but it is as obvious as the nose on ones face now.
Many are here waiting for something hopeful to happen. I have sold what shares I re-accumulated a few weeks ago to wait this out with only my core position since SAPX is drowning in question marks. Once some of the muddy waters clear, either I will know to dump the rest when the shares become unhalted, or to re-accumulate again, hopefully at this lower level. I have a cushion to buy them all the way up to .12 and still will have made money by selling and buying back lower. I think the odds are not very high that it will gap higher than .10 or .11 on good news UNLESS it is news of a buyout, and then it will likely gap to near where the stated buyout price is.
Questions and more questions.
Thus risk increases with every waiting day.
Peter has run this so far into the ground with all the dilution, shareholders' only hope is that somebody SOMEWHERE can find some benefit they can gain from buying this company outright and trying to manage it correctly. Now, as badly as Peter has left SAPX with all the lawsuits and fuzzy deals that just give equity of the company away to whoever Peter has dealt with and whoever might have a friendly connection with Peter, I'm not very confident that there is someone out there can see a value in owning this POS; but maybe.
One can hope.
The one bit of information that I see that can help with this hope is what MT has pointed out many times. Why in the world would a company pay off huge chuncks of its debt if it were going to just let the company go bankrupt? However, again someone else posted, that Peter may not have had any choice due to certain lawsuits that required specific payouts - not sure how this all works. If that is the case, then we are definitely cooked.
All the myriads of lawsuits and people unhappy with Peter, along with all the fuzzy deals, makes it too difficult to figure out whether MT is correct or the other poster.
I'm back to only a very SMALL core position because my concerns of BK and/or a trading halt have just gotten too strong that I do not want to risk too much here until some INFORMATIVE piece of news (that would involve putting out some SPECIFIC DETAILS OF what is happening with the money here) is released that will give us some solid information regarding the stability of this POS.
PART II — RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)
(a) The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
þ (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D,or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
(c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.
PART III — NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period. (Attach extra Sheets if Needed)
The Report on Form10-Q for the period ended March 31, 2012, could not be filed without unreasonable effort or expense within the prescribed period due to the responses to auditor inquiries as a result of which our other internal accounting staff and outside independent auditors require additional time to conclude their preparation and review, respectively, of our financial statements and notes thereto for the current period. We will also need additional time to prepare the related Item 2 disclosure of Management's Discussion and Analysis of Financial Condition and Results of Operations.
UGH: