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I am not defending or justifying their 20%, i was just indicating that it could be there thought process!
Can you explain, why not?
and the announcement of tender offer at $15 (or 0.06c) put a lid on it last couple of weeks. This will continue at least until Sep 18. When they announced tender offer it was trading under 0.05c, so for them they were giving 20% incentive at 0.06 but that capped the stock price, unfortunately.
Manipulation or not, it's the 0.06c conversion price on Sep 18
The only reason i can think of this downward price action is to justify the preferred share conversion price of 0.06c on Sep 18 ($15/250=0.06c). There is no other justification for it to go down.
Most likely, by Sep 18, it will be at or below 0.06c to motivate people to convert. Price may start going up post Sep 18, we will see.
This is odd that it can't go green with all these things going on!
Hope it does. Went through a lot of ups and downs with it, hope we see some light in the end. thanks
Honestly, in the end, I gave up too and reduced my position quite a bit. Thought they were not going to keep their word to buy back. Luckily, still have enough shares to be excited about.
GO BBRW GO
Saw that news, hope it takes BBRW to pennyland!
Wow, that's a great news. Hope we see some real price action now, good luck!
Most people are intelligent enough to make their investment decisions on their own. Those get upset seeing comments and opinions on social media (for or against), may have the vested interests, one way or the other. Otherwise, why would they get upset?
As a retail (and a participant of a public forum), the best approach is to read the comments/opinions if you like or ignore if you don’t like and or put your own, for or against. There is no reason to fight people or say bad things unless you’re personally, attacked.
Stock market consists of million different people and activities, longs, shorts, investors, flippers, traders, what not. And that’s why this market is so liquid. Any time you wanna buy/sell, it takes a fraction of a second to do that and that’s the beauty of this market.
Good night and peace!
GLTA
Consider before conversion:
Often times, stock price skyrockets immediately after the news breaks like RM, buy outs and other significant news and it settles down at a much lower price in a few days.
Subsequently, sometimes, it takes long time to get back up to that super high stock price that happened after initial news.
If you convert into preferred and your stock is locked for a year or two, you won’t be able to take advantage of that.
Tips for little guys, lol
There may be a little buying pressure and spike in stock price Monday through Wednesday mainly due to obtain some free preferred shares on Sep 18.
Also they may release a PR early this week clarifying the tender offer conversion period as well as conversion ratio post-RM (preferred to common). It’s important to know the post-RM conversion ratio beforehand to make the conversion decisions on Sep 18.
For retails, it’s hard to convert to preferred without knowing the subsequent conversion ratio (from preferred to common), when their ultimate goal is to hold and sell common when price is right.
Target early Q4 to conclusion
CLX Tweet Aug 7:
“Thank you for information requests of the CLXHealth roadmap. Consortium continues to work with Pubco candidate identified in publicly filed 5/29 LOI. Milestones being achieved weekly as part of standard due diligence. We continue to target early Q4 to conclusion.”
That’s right. The reason I say JG represents PASO more than CLX, at least for now, is that he bought a whole bunch of PASO stocks. If RM happens, he will be highly benefitted from PASO (more than CLX). Although it will be a double dip for him with RM!
Between now and DA/RM:
The most I care about all the hints and indications that whatever CLX (and its partners) does, PASO/JG is in the loop, directly or indirectly, and whether PASO/JG is happy about it. This will show that PASO and CLX relationship is going good and strong.
For me, JG represents PASO more than CLX at least for now. When he says “we are on track for Sep”, that ‘we’ shows belongingness, when he strongly defends for app delay with reasons, that shows he is on top of it and somehow is involved (or informed) in the process, that’s reassuring that relationship between PASO and CLX is still strong.
One thing is certain that RM will change the picture. Whether post RM, price goes to $1, $5, $10 or $50, I don’t care, all I know it’s not gonna be 0.07c for sure.
Therefore, between now and DA/RM, I will continue to look for whether PASO/JG becomes happy or gets excited for the activities done be CLX (and its partners). If they’re happy, I am happy. If they are not, I am not, lol.
Our prospects depend on RM, nothing else.
So far so good, good luck!
@DBals: The reason of my post is that the tweet reply was on Aug 31, very recent, this signifies that JG is very much involved in the process, which is a very good news for PASO and us. Also he suggested it was on track for Sep, that is also reassuring and good news for PASO and us.
@Favorite: Take a read of my post describing the pros and cons re conversion to preferred, hope that helps!
Pros and cons for conversion to preferred shares on Sep 18:
Pros:
1. 6% annual dividend
2. Downside risk protection (if stock price goes below 0.06, preferred shares will still be at $15, meaning you are protected up to 0.06c)
3. Mental peace: If RM doesn’t happen and stock price goes south, at least your 0.06c/sh basis is protected
Cons:
1. If the stock price on Sep 18 is more than 0.06, we are giving up more shares than required to get 1 preferred share, meaning we are losing shares.
Example: On Sep 18, if stock price is 0.08c, for one $15 preferred share, we should give up 187.5 common ($15/.06=187.5) but we have to give 250 common, so for 1 preferred, we are losing 62.5 common. If you convert 1m to prefd., you will lose 250,000 common shares (1,000,000/250=4,000x62.5=250,000)
2. We do not know the post RM conversion
ratio. If RM is successful and stock price goes to $5 for example and if company announces subsequently that the conversion from preferred to common will be let’s say 1 to 200 (ratio may go lower or higher). So for your 4000 preferred, you will get 800,000 common. Again you’re losing share count by 200,000. One might question, why would they do that? Companies do a lot of things for greater interest (like they do offering, R/S, etc.). They can do it for example to keep the o/s count low post RM.
3. To address the concerns on number 2, we must know post-RM conversion ratio (preferred to common) before we convert now (and normally that’s the practice)
4. We are converting pre-RM, which is uncertain. If the conversion was done after RM, we would know the direction of the company and the stock price, decision would be easier
5. We do not know the lock out period, it could be 1 year, 2 years. After successful RM, stock price may shoot up significantly due to hype and you may want to cash out at the time but if it is locked for a year or two, you may not be able to take advantage of that.
It depends on individual decision. For now there are a lot of uncertainties and unknowns as mentioned above. It’s not an easy decision to convert.
Hope this helps!
JG replied to a App related Tweet on Aug 31:
“Yes-we are on target for Sep. Everything has been submitted to Google and Apple stores for final review”
Then we will give a preorder for a lambo, lol
That’s what I meant!
I myself thought about it but most likely not going to lock my shares regardless. Common shares are more liquid. If the offer was after merger, it would be an easier decision. At this point, it’s a tough one.
Someone mentioned that T. Sykes followers day trade for $5, lol
Next week will be interesting leading up to Sep 18. We may get a PR or two specially clarifying the conversion period (from common to prefd.).
Could be day trading going on for now as it is staying within the same range!
That's a good observation, makes sense!
So much happening, yet market is not that excited. It just can't get out of red. What to make of it?
When my fiance defers my wedding, just day before and start flirting with other people and tells me i will have my wedding in Q4 (without even giving me a specific date like before), it worries me. That's why i was looking into the languages and words PASO used. Because my finances behaviour will show if she is still with me or not, lol.
If it does not worry you, then I have nothing to say, doog.
You did not get my point, doog. My point was as long as PASO and CLX deal is in good standing, we love everything else. If CLX does not value us then we are not interested about anything else.
During their extension request, the reasoning was they were pursuing other business opportunities, so they had to defer the DD, that bothered me. If they would add that everything they were doing would benefit the merger (or hint of it), would make us happy.
Don't just get upset, we are on the same boat. You're excited about what CLX doing assuming we are part of it. And i am focusing if our bridge is being built right (between PASO and CLX), that's it. we need both!
Kenboslice, I am with you 100%, these are two different things.
Doog, it may surprise you but i was very much part and parcel of two big M&A and i know how it works. My focus is on PASO and its activities and that should be the case until merger happens, everything else is distraction.
doog, I always go back to basics (i.e., go back to PASO PR). On latest PR on July 15, PASO said and I quote "We have no reason to believe that this request for an extension indicates that this transaction is any less likely to occur".[color=red][/color]
If you are in charge of PASO and you know that your merger partner is doing whole bunch of big things that will benefit your company through merger big time and you're super excited. In that case, would you write this sentence like this or differently with much more positivity and energy?
At this point, I care more about PASO and merger (than what CLX is doing on its own unless our PASO name is there)
July 15 PR:
On July 14, 2020 we were issued a request by CLX Health to extend the closing date of the merger to Q4 2020. As CLX Health continues to pursue and coordinate on its business opportunities, they had to defer completion of their due diligence of PASO. It is for this reason that CLX Health is unable to meet the agreed upon closing date and they are seeking an extension. We, Patient Access Solutions, are going to honor their request and grant the extension. We have no reason to believe that this request for an extension indicates that this transaction is any less likely to occur.
Great assumption. Just pray and hope that in the process they don't forget their merger partner PASO! The best option would be to complete the merger asap and continue the global partnership.
Doog, that's a good observation and i would be so excited with this. The only missing link is that the PRs PASO issued recently and the language they used, do not indicate that. Any hint of that would make us so much happy.
For now, our main focus is the RM between PASO and CLX, which will take us to elite club. We love everything else but we want to see more and more info that indicates the positiveness towards RM. I am sure you would love to see that too.
and which one is OTC stock here, just curious!
TU and CLX partnering is not yet official either, yet they put all the names together because they’re having fun time. JG should be alongside them with same excitement as if PASO is very much part of it. PASO and CLX at least have a letter of intent. I understand there may be legal and other restrictions but when both parties are equally excited and on the same page, they highlight each other on every development, like TU highlighting CLX, UST and SIQ, that’s my point.
We would be so happy if there is a mention of PASO here somehow.
Wish they would mention PASO as well. All names (TU, USTG, SIQ, CLX, etc.) are there as partners, the only name they forget to mention is PASO. TU says they are partnering with CLX and then somehow they don’t forget to highlight UST and SIQ. Wouldn’t be even more exciting indicating that CLX is partnering with PASO. But no .....
Day before wedding, if bridegroom says extend the wedding day as I am pursuing some business opportunities, what would bride say? Under normal circumstances, most likely answer would be F... U, just for fun, lol?
July 15 PR:
On July 14, 2020 we were issued a request by CLX Health to extend the closing date of the merger to Q4 2020. As CLX Health continues to pursue and coordinate on its business opportunities, they had to defer completion of their due diligence of PASO. It is for this reason that CLX Health is unable to meet the agreed upon closing date and they are seeking an extension. We, Patient Access Solutions, are going to honor their request and grant the extension. We have no reason to believe that this request for an extension indicates that this transaction is any less likely to occur.
Devil’s advocate:
Let’s agree on one thing that most of us, if not all want this RM to happen, price to go up and make good money. I may not have million shares but I have enough to make a million dollar if it goes to $2/$3. Don’t know about you but often I count million dollars and imagine what kind of sports car I will buy first, lol. I become extremely happy when some of you confidently say we did our due diligence and it’s solid.
I also know most of us here really intelligent, smart and professionals in different fields and most of us manage people and businesses one way or the other and have experience and expertise to understand and analyze the situations.
I assume those of us in stock market for long, we betted once or more like this in the past and ended up with different outcome.
Having said all that, some of you may have noticed that I raise questions or issues that may sound negative. I agree that I may not be right always and I don’t wanna be. I mentioned before that I want to see other viewpoints even if you get upset.
In my previous post, I quoted a few of PASO’s PRs in a sequential manner so we can read the languages that showed excitements initially and more of consolation type in the recent ones, again my characterization may not be accurate and I want to be wrong.
Business behavior and human behavior somewhat similar because at the end of the day, businesses are run by humans.
I would request not to get upset and take the time to read the PR quotes that I mentioned before and see if you find anything you deem reasonable or doesn’t really makes sense or not quite satisfactory.
At the end of the day, we want to make sure our bet works and we don’t wanna lose our capital. We know CLX is doing a lot of things but we want to see in all those things PASO is present one way or the other. If that doesn’t happen, if CLX wins whole world, that doesn’t help us.
I compare these PRs and languages with our dates. On our first few dates, we show up on time or even before time, like their May 28 PR to close on Jul 15 in 6 weeks. Next, If your friend ask for some money, first you give him a date and then make excuse for not being able to; and tell him you will do it in next few weeks like their Jul 14 PR to close it in Q4, vaguely. You’re making a lot of business deals and making tons of money but your friend is not quite sure of your intentions if you’re giving him money or not.
Let’s say I am way way off and all negative, if you can out of courtesy sake, please put your strong positive opinions as to why I am all wrong. That will make you me and all of us feel good and strong. Thanks