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I have never claimed to know alot about business. I do know a company wont sell without asking more that "what's the color of your money". As some have said here.
Posted by: OrnateSilk Member Level Date: Thursday, April 08, 2010 12:59:26 PM
In reply to: pblue who wrote msg# 23659 Post # of 23661 S
pblue,
We think alike.
GL2U
Not only DD to make sure they have a job, but to make sure the buyer plans on continuing operations. Some companies buy others just to break up and sell off or close the business completely.
Posted by: stockmamma Member Level Date: Thursday, April 08, 2010 12:42:15 PM
In reply to: greedy__malone who wrote msg# 23656 Post # of 23658 Send a link via email Share on Facebook Tweet this post
wrong again. Threshers has stated right from the beginning that "the management of Thresher will stay in place!" So if i were Tom Flessner, Roger Rowell, Kevin Weeks, etc etc I would be doing alot of DD to make sure that I have my job when the new company takes over.
In some small companies members of the BOD also work for the company in other capacities. The seller would want to know who would still have jobs after the sale.
Posted by: greedy__malone Member Level Date: Thursday, April 08, 2010 12:36:58 PM
In reply to: pblue who wrote msg# 23648 Post # of 23657
Why would the board members keep their jobs?
If it was a true buyout the current BOD would be dissolved.
But since it is not a real buyout I assume they are pretending to do DD on this "potential buyer" in hopes that when it all falls apart they can come up with some excuses as to why this "potential buyer" was not qualified to buy THRR and then I am guessing they will suggest that they intend to file a lawsuit against them.
That's how many of these play out.
Both buyer and seller have DD to do. One thing the seller wants to know is who in upper management will still have jobs, what their titles will be, and what they will be paid. That could even be spelled out in the final closing documents. Severance deals for management that wont have jobs. These guys don't want to sell the company on one day only to find out on the next day they don't have a job.
Posted by: private_wealth Member Level Date: Thursday, April 08, 2010 12:22:42 PM
In reply to: slojab who wrote msg# 23643 Post # of 23650
The due dilligence requirements are made OF the seller not BY the seller. The only DD the seller needs is to see money.
What a SCAM
In the real world the buyer and seller both do DD. Especially, if the board members want to keep their jobs. To look out for is a buyer that just wants to buy and close the company.
Posted by: nobullhere Member Level Date: Thursday, April 08, 2010 10:47:32 AM
In reply to: Dragynn who wrote msg# 23586 Post # of 23644 Send a link via email Share on Facebook Tweet this post
Wha a wreck of a PR. Clearly amateur hour, but hey give CEO points for keep the game afoot. In the real world the buyer does the DD on the seller and the seller has to respond, justify, clear up, imdemnify and resolve issues.
1 to 5 they post a PR to clarify the one done by a child this morning.
I believe it could be a scam. So I am only invested in part of my profit from trading in THRR.
Posted by: legalese Member Level Date: Wednesday, April 07, 2010 12:06:15 PM
In reply to: greedy__malone who wrote msg# 23401 Post # of 23404 Send a link via email Share on Facebook Tweet this post
pblue posted:
I don't believe anyone is on here to look out for my money.
greedy_malone posted:
But you do believe that THRR is looking out for your money?
legalese posted:
I believe the largest shareholder
in THRR, the CEO is looking out for his money. If this sale goes through he will set himself up for life. Why wouldn't he do his very best?
I believe he will make the sale happen.
I never said I believe THRR is looking out for my money either. I am holding a small amount bought using my profit in trading THRR and hoping to make a lot of money.
Posted by: greedy__malone Member Level Date: Wednesday, April 07, 2010 12:00:16 PM
In reply to: pblue who wrote msg# 23395 Post # of 23403 Send a link via email Share on Facebook Tweet this post
I don't believe anyone is on here to look out for my money.
But you do believe that THRR is looking out for your money?
L2 Summary here
3 @ 17 & 2 @ 18
4 @ 15 & 4 @ 19
3 @ 14 & 4 @ 20 1.5M ARCA
1 @ 13 & 1 @ 23
1 @ 11 & 1 @ 27
1 @ 10 & 1 @ 33
1 @- 5 & 4 @ .01
2 @- 1 & 1 @ .51
I don't believe anyone is on here to look out for my money. The only reason I see for them to warn me about the company is they are trying to make more money with their investment. I am fairly new at trading but I already flipped my stock. Now I am only in with most of what I have already made on this stock. So if it goes up great. If it goes to .0001 I still make money. I don't care what anyone writes on the forum good or bad. If they have links I will check out the links.
Posted by: greedy__malone Member Level Date: Wednesday, April 07, 2010 11:28:05 AM
In reply to: stockmamma who wrote msg# 23379 Post # of 23394 Send a link via email Share on Facebook Tweet this post
Thrr has not yet given me any reason not to believe them.
What exactly would it take in order "not to believe them"?
Exactly what have they provided that can be 100% verified through independent 3rd parties?
That's called the sniff test. The ability to verify claims through independent 3rd parties. If you can not do this then you should be more than just a little skeptical.
That is still and old PR.
Posted by: Nickelback Member Level Date: Wednesday, April 07, 2010 11:26:15 AM
In reply to: pblue who wrote msg# 23385 Post # of 23387 Send a link via email Share on Facebook Tweet this post
THRR...offer we received was unequivocally to buy 100% of the issued and outstanding shares of Thresher Industries for $0.01 per share. http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=THRR%3AUS&sid=azMsLTi8ssKc
Nobody can say whether the deal will or will not happen. Some posters here just interpret the PR's with a different meaning. Such as 'would like to close by April 10th' being stated as 'will close by April 10th'. The meaning of those two statements are different.
Posted by: slojab Member Level Date: Wednesday, April 07, 2010 11:01:40 AM
In reply to: joshuadana who wrote msg# 23372 Post # of 23374 Send a link via email Share on Facebook Tweet this post
Explain how overachiever is wrong and the scenario he puts forth can't happen.
L2 Summary here
7 @ 18 & 2 @ 19
4 @ 17 & 4 @ 20 1.5M ARCA
1 @ 16 & 2 @ 21
1 @ 15 & 1 @ 22
1 @ 11 & 1 @ 23
2 @- 1 & 1 @ 27
-------& 1 @ 30
-------& 1 @ 33
-------& 4 @ .01
-------& 1 @ .51
Maybe because they are only going to pay one dividend at $.003.
Posted by: transam73wi Member Level Date: Wednesday, April 07, 2010 8:30:42 AM
In reply to: None Post # of 110955 Send a link via email Share on Facebook Tweet this post
At .0001, but guaranteed .003... I'm at a loss on why we are at .0001..
Anyone?
The company doesn't control what stockholders do with their stocks.
Posted by: mathias1 Member Level Date: Wednesday, April 07, 2010 7:55:22 AM
In reply to: locksflooring who wrote msg# 110942 Post # of 110946 Send a link via email Share on Facebook Tweet this post
I'm sorry but that doesn't do anything to explain the heavy dumping that was going on.
I couldn't get it to work either. From the URL it looks like just another copy of the "Confirm 100% sale of the company" PR. Some have said it means they are doing a "story" on THRR. Actually, they are just passing on what THRR released as news about the company.
Posted by: stockmamma Member Level Date: Wednesday, April 07, 2010 1:56:12 AM
In reply to: Nickelback who wrote msg# 23313 Post # of 23322 Send a link via email Share on Facebook Tweet this post
I couldnt get this link to open. Did they do a story
on Thresher?
That's only because its after hours and most MM's have removed theri bid and ask prices. They will be back in the morning before trading.
Posted by: Psblendorio Member Level Date: Tuesday, April 06, 2010 5:42:05 PM
In reply to: None Post # of 23300 Send a link via email Share on Facebook Tweet this post
ASK PRICE IS .01!!! Check Etrade.com
Daily volume keeps going down. will that help the price go up?
I wouldn't believe anything posted in any forum. Give me references and I will check the references myself.
Posted by: overachiever Member Level Date: Tuesday, April 06, 2010 12:52:17 PM
In reply to: Richard H who wrote msg# 23257 Post # of 23273 Send a link via email Share on Facebook Tweet this post
Quote:On Yahoo a shareholder stated that they had phoned and stated the following :- "i asked for the PR dept and she stated they were Extremly busy with calls and other legal stuff involving the Sale of the Co. I then asked her if the sale of the Co. was still going forward and she stated as far as all the Employees were told, YES IT IS STILL GOING FORWARD.... Call and see for yourself...1-559-585-3400 "
I wouldn't believe one word any Yahoo poster said about this takeover scam.
6 @ 18 & 2 @ 19
5 @ 17 & 4 @ 20
1 @ 16 & 2 @ 21
1 @ 15 & 1 @ 22
1 @ 9 & 1 @ 23
2 @ 1 & 1 @ 27
-----ask 1 @ 30
-----ask 1 @ 33
-----ask 4 @ $.1
-----ask 1 @ $.51
Doesn't seem to be any PR today.
THRR hasn't removed the conference call from their website. They don't have all the latest PR's either.
Wouldn't DD be done by both the buyer and seller?
Posted by: legalese Member Level Date: Monday, April 05, 2010 11:34:44 AM
In reply to: FastFish720 who wrote msg# 23096 Post # of 23101 Send a link via email Share on Facebook Tweet this post
You aren't taking the quote from the PR, but rather, rewriting it to suit your purposes.
What the PR clearly says is the next phase (after completing the due diligence) is "finalizing the documents" not closing, but finalizing. And obviously, it means starting to write the documents.
Also, due diligence would be conducted by the buyer not the seller.
And... the CEO could not have told anyone he was going to make an announcement today. THAT would be giving insider information.
No movement. Only 21 trades and no change in L2
5 @ 19 & 3 @ 20 It was at 2 @ 20 for awhile.
I don't expect to hear anything this week.
Posted by: FastFish720 Member Level Date: Monday, April 05, 2010 11:24:16 AM
In reply to: Chris21 who wrote msg# 23093 Post # of 23097 Send a link via email Share on Facebook Tweet this post
I didn't listen to the CC, but I'm just taking from the PR
"close this transaction; which could be as soon as April 10, 2010 ."
So one might assume that some sort of announcement, would be made around this time whether it is good, bad or a delay.
I'm in for the freeride at 1M.
Someone posted they talked to THRR and the buyer would be announced this week. Then it was posted there would be a PR today. I never believed it. I was waiting to actually see the PR.
Posted by: livenhappily Member Level Date: Monday, April 05, 2010 11:13:56 AM
In reply to: pblue who wrote msg# 23083 Post # of 23088 Send a link via email Share on Facebook Tweet this post
who said there was a pr today?
PR's have usually posted by now.
They always used words that it might happen by April 10th.
A change from 10.4B to 11.5B is all I have heard. My math says that is 1B.
Too much misinformation. Posters changing maybe by April 10th to by April 10th.
Posted by: overachiever Member Level Date: Monday, April 05, 2010 10:57:31 AM
In reply to: 1kgwxman who wrote msg# 23069 Post # of 23078
.....
All of a sudden they are hanging the bogus April 10th carrot out in front of the nose of naive investors again.
In the meantime, they issued another 2 billion shares of stock into the hype. The fact this is all a scam is a no brainer to any market pro.
It wouldn't surprise me to not see a PR at 11. Too much misinformation here.
I was looking for it at 9 or 11.
Posted by: trader111 Member Level Date: Monday, April 05, 2010 9:49:55 AM
In reply to: pblue who wrote msg# 23051 Post # of 23066 Send a link via email Share on Facebook Tweet this post
The PR at 11.00 AM will rock you guys
PR doesn't seem to have affected the price today.
9 @ 1 & 7 @ 2
5 @ 19 and 2 @ 20
Final Resolution of Sale of Company's Gold Interests
Fortress Financial Group, Inc. --
0 minutes ago - Marketwire
Related Companies
Symbol Last %Chg
FFGO 0.0001 0.00%
As of 3:36 PM ET 4/1/10
Fortress Financial Group, Inc. (PINKSHEETS: FFGO) has now finally resolved the details to effect the sale of its Gold Interests, those being in the "Bouse" and the "South Copperstone" Gold Properties. The resolution has received the irrevocable, necessary and requisite consent of all of the Company's Loan Note Holders, the beneficiary of Net Smelter Royalties and future working interests in both of these Gold Properties and from considerable minority stockholders in both of these two Gold Properties.
Full details of these transactions will be announced and appropriate filings with the SEC in and during April of 2010. It is simply not possible to announce the full details at this date. The other party to these transactions is a publicly quoted Company in the USA with substantial SEC Filing obligations and which is not in a position to complete and announce these transactions with ourselves until such time as their Annual Audit and their Form 10-K is filed; that is expected and indeed required to be on or before April 15, 2010; we are therefore being very cautious in our promised announcement dates insofar that the other party could experience a week or two delay in the filing of their Form 10-K in the event that their Annual Audit is not completed on their planned schedule.
The Company has appointed Global Investor Relations as its Corporate Communications Firm and with immediate effect. They will now be responsible for the daily interaction with our stockholders, the provision of information as well as performing all other Investor and Public Relations requirements expected of a publicly traded Corporation. Their contact details are:
E Mail: ir@fortfinancegroup.com
Direct Line for Fortress Investors: (407) 403-5565
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected", "anticipates", "draft", "eventually", "projected" or "guidelines". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in filings made by such company with the SEC.
Contact:
Fortress Financial Group, Inc.
Peter J. Bezzano
Chairman
E Mail: admin@fortfinancegroup.com
Twitter: http://twitter.com/FFGO
Telephone: (954) 623-7409
All Investor Related Enquiries:
Corporate Communications to Fortress - Global Investor Relations
E Mail: ir@fortfinancegroup.com
Direct Line: (407) 403-5565
SOURCE: Fortress Financial Group, Inc.
mailto:admin@fortfinancegroup.com
http://twitter.com/FFGO
mailto:ir@fortfinancegroup.com
Nothing concrete on the buyer yet.
Posted by: nate1973 Member Level Date: Monday, April 05, 2010 8:18:48 AM
In reply to: trader111 who wrote msg# 23046 Post # of 23047 Send a link via email Share on Facebook Tweet this post
anything concrete
on this happening?
I thought it was 1.4B preferred stock and 11.5B common stock, outstanding.
Posted by: spec_trader Member Level Date: Wednesday, March 31, 2010 10:54:48 AM
In reply to: Traveller7777 who wrote msg# 22511 Post # of 22546 Send a link via email Share on Facebook Tweet this post
Because they had 1.4B OS a month ago and we've traded 20+Bilion shares since then. Do we really believe only the 1.4B float has traded 15 times since then, or could there be more?
More MM's will come on between 9 and market open. Actually, they have started already. There are more there now than when I first looked.
Posted by: dcevertrade Member Level Date: Wednesday, March 31, 2010 8:53:47 AM
In reply to: None Post # of 22461 Send a link via email Share on Facebook Tweet this post
only 2 MMs left on the ask 21, just key in a buy order at 21, hopefully still can get some more at 21.
But, when does the buyer have to be named be named? I believe after DD is complete then the buyer will be named. First THRR has to be sure the buyer has the funds to complete the purchase.
Posted by: TavyCal Member Level Date: Tuesday, March 30, 2010 3:46:50 PM
In reply to: legalese who wrote msg# 22389 Post # of 22398 Send a link via email Share on Facebook Tweet this post
The buyer HAS to be announced. The companies name
(the buyer) has to be disclosed.
And read again. It says they "would like completion and closing by April 10th". That doesn't mean it WILL happen by the 10th. And the mini-tender offer is valid until the 30th. IMO that means if nothing happens by the 30th then there is no longer an offer to buy the company.
Posted by: powertogetwealth Member Level Date: Tuesday, March 30, 2010 10:07:29 AM
In reply to: None Post # of 22233 Send a link via email Share on Facebook Tweet this post
Read again the PR: The sale would take place before April 10, not exactly on April the 10. This could happen anytime now!
Thresher would like completion and closing of the deal before April 10, 2010.