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The stock valuation is good but I can't stand the games being played by virtually every party involved, from management to all big shareholders. So I reduced holding to just 20k. Oddly enough, I recovered over $26k from Gevo in the last two days. But I am not buying more spdc. Instead, I am betting on FXCM and RGSE for now. I may buy more spdc when I get some insight from mgmt. The way they run the company, you'd think it is a private company. Just my sad observation. 20k is OK for me on it. Mgmt is just not managing.
Today's price action in GEVO should teach us that just because SPDC stock is trading at $0.25 does not mean that that is where it belongs or reflective of the value. Just three months ago it was at $0.12. Yes, they did RS but the stock has rocketed some 150 percent since then.I bot into that name today at $3.40...thank God for that.
If you call those losses I am looking at about $34000 in red at my account now. But it is nothing....the numbers control here. I read in another filing that insiders precluded themselves from buying or selling over the next ninety days...down to about 72 days now. My sadness is not that I bot. It is a combination of anger that I bot early rather than down here and that there does not appear to be any effort to help the stock from mgmt side. I hate to admit that virtually everything the conspiracy theorists and negative poster wrote about this has occurred. I believe some of then are even surprised that the pps got as worse as this. Especially the yahoo board posters. Very very disapproving especially when juxtaposed against the positive message coming from mgmt and insiders.
I remember the yahoo board poster that was saying he'd buy it in low twenty cents and we laughed at him. Seems like he's a genius now. No buyers. Three million share sale out of 79 million is small but the psychology is huge. Longs are subdued.
Just to reply some private messages, I am long here and added 29k today. But you just have to wonder whether anyone is actually in charge here management-wise. First, the stock slides and slides and slides from $2.80 without a single word from the company. Then they come out from nowhere and sell shares at what was an unthinkable low. Then, the stock has been pummeled to drop another 60 percent since the share sale. Nothing. And the make it even worse, someone who was the president of the company jumps in and is massively dumping his shares and filing SEC forms. Nothing from mgmt. It makes you feel that what you read from management first in the CC after the last qtr report and eve after the share sale may be doubtful. Unless, you are the CEO or an insider, you must question the kind of drama that is happening here. The funny thing with all the sales is that short interest has remained virtually unchanged and major holders have not reported any change to their holdings. SO, who is playing on this stock and why is everyone complacent about it? At the end of the day, I am long and will see the end.
I guess with current mgmt owning little shares, there's really no impetus to defend the stock or say release any kind of information for the benefit of real shareholders. It's hard to not notice the complacency in the name-and I could think of no other reason than that they don't own as much.So, the emphasis is to raise money to fund operations instead of safeguarding shareholders' interest.Imagine if folks have to buy this for their retirement. As much as I see value here, I'd have rather been happy to stay out. Although not anymore.
Spdc will report within three weeks. Folks will just look at this and shake their heads on why they missed the opportunity. I keep repeating that spdc lost $2.1 million last qtr vs $7.3. $5.3 was acquisition and refi related. Now, 5th Gear will generate over $50 million this fiscal year. Combined, you are looking at some $180 million. The company just raised about $8 million which gives it great latitude and time to fully integrate the acquisition. Even if it has losses the next two qtrs at the same rate, company would still be in great shape. I believe new customers are signed up and will be announced soon. Also, spring just started and they will busy up with Lowes account. It is unthinka
ble that folks with cash are slipping up the opportunity to load here just because a group decides to play some games with the pps. It won't be long. Go and reread the transcript from last call and see where thus is going. The mere fact that zisk is selling shares down here should be seen as a buying opportunity. There is zero chance that the selling is based on some insider information.
You are certainly viewing it from a good angle. I bot a few companies in bankruptcy since January and have had some good returns. However, in SPDC, you have a company that had a mere $2.1 million in loss (excluding merger/refi costs) which was kind of consensus. The company has been sold from $2.91 to $0.30. Meanwhile, the company just paid about $55 million in cash (borrowed) for Fifth gear. Fifth Gear and SPDC combined will rake in some $180 million in revenue this year. The closest counterpart in the industry is PFSW, and its mkt cap is about $220 million. Now, even when you add all the debt and warrants etc up for SPDC, the entire sum is less than $140 million - everything debt, current mkt cap, warrants whatever. So, I am heavily in here and bought almost all under $0.40.
Funny what ignorance does to stock. Few folks realize that spdc only had $2.1M of loss last qtr as opposed to $7.2 M. Over $5M was acquisition and refinance related. But look at the stock from $2.48. Strangely, even the informed institutions that were buying above $2 are just looking at it. I am 50 percent inside it now.
We are in great cash here. A sale with this quality of solid assets is actually what the shareholders want. And unlike other bankruptcies that drag on forever, Dune will finalize in the next 90 days. With the 54 MNBoe in additional assets, you can see why mgmt refused to renegotiate the $0.30 pps agreed price. Fireworks tomorrow!!!
Local, I hope you saw the PR about reserves on Yahoo. I opened two bottles of Heineken after reading it. 12.9 MMBoe proven. BUT THEN READ THIS:
"Upside Potential and Capital Expenditures
Over and above the 12.9 MMBoe of proved reserves, the Company has identified an additional unrisked 54 MMboe of probable, possible and exploratory reserves. These projects are defined with recent fully processed 3-D seismic data and within our acreage positions. The majority of this upside potential is within our Garden Island Bay field."
IN ADDITION:
"Estimated future revenue attributable to Dune's interest in the proved reserves were based on spot prices, effective December 31, 2014. Prices for 2015 were $52.19/Bbl and $3.01/MMbtu."
***Tons of money will come out this. Now you know why only about 5 million shares have been sold in total since the BK filing.
That's why the SEC involvement is great for shareholders. Let's keep watching
Great news that the SEC has appeared in the case. At least, shareholders would be sure someone is looking out for them. The SEC would ensure that we are represented by an official committee. What baffles me is, if there was a way to effect the merger at 40 percent less than the originally agreed price, why would the company reject that offer and opt for bankruptcy if they did not believe that we'd get a better deal? Just the SEC showing interest here has answered my prayers. We will find out soon.
Unfortunately there are no sure answers here. Everything pretty much depend on the bidding process and how the court decides to treat the proceeds. My interest here stems from a number of things, including the fact that the assets are "high quality." That is the language Eos used in describing the assets after they initially announced a merger. Further, Eos agreed to pay $22 million for the common stock. In the negotiation, my guess is that they wanted to lower by 40 percent. Dune mgmt refused and Eos allowed the offer to expire. So, we are all doing educated guesses here and investing comes with its risks. The good news is that Dune will complete the process within 130 days so we won't have to wait long to find out.
There is also a lack of selling in the stock...check out how many that has traded since march 9....virtually no fraction. Even the Eos statement showed they tried to lower the purchase price maybe by 40 percent but Dune refused. We will see how it plays out. My guess is Eos will end up acquiring Dune
Someone (I believe an attorney) posted this on DUNRQ at Yahoo. I tot to share: I believe we will get another bid from EOS or the $5 million.
******************
Two legal reasons why EOS may still buy DUNRQ or pay the $5Million termination fee
1. The express terms of EOS' tender offer as announced in October 9th, 2014 PR does not contain any financing condition. As such, EOS cannot exit obligation by claiming that it could not finance the deal.
2. More importantly, the agreement prevented Dune from actively soliciting other acquisition proposals. Because EOS caused Dune not to actively solicit acquisition proposals from October 2014 through the first week of march 2015, it is my understanding that EOS cannot validly walk away from the obligation to purchase Dune.
Accordingly, I believe that EOS will have to pay Dune the $ 5 million merger break-up fee or specifically complete the deal. Now this is my interpretation and is not intended to be a legal advice for anyone, although I believe that would be the legal position in this case. I am long Dune prior to the bk and still hold the shares.
A LITTLE MORE WRITE UP: see my conclusion from "HOWEVER" below.
This is what EOS had to say: "Despite our good faith, best efforts to renegotiate the terms of the acquisition, the boards of Eos Petro and Dune Energy were unable to reach an agreement that could be properly financed after the drop in the price of oil," said Martin Oring, CEO of Eos. "Negative outside market forces beyond either companies' control rendered the original terms of the acquisition unworkable, and Eos therefore believes that it has not breached its obligations under the terms of the merger agreement."
On September 17, 2014, the day Dune and Eos entered into a formal merger agreement for the commencement of the tender offer, WTI crude oil prices were $94.33 per barrel. Today, over five months later, oil prices are approximately 40% lower and down approximately 54% from summer peak prices. The resulting reduced profit potential and weakened credit statistics directly impacted Dune's financial forecasts and valuation, to the point that the terms for the acquisition of Dune originally proposed on September 17, 2014 were rendered untenable.
HOWEVER, the fact that oil prices lowered is not enough force for EOS allow the tender offer to expire. The agreement was signed in September 2014 and there was enough time to consummate it. There was no financing condition to performance. A steep decline in oil prices simply made the contract onerous for EOS. The fact that the merger was onerous for EOS, did not equate to ‘impossible’. Financial inconvenience could in no way allow EOS to rely on any force majeure claim. CONCLUSION: Dune will get specific performance from EOS or get the $5 break-up fee - NO TWO WAYS ABOUT IT.
NOTE AGAIN: This is not a legal opinion for anyone.
I just took more. Compare DUNRQ to BPZRQ, both have about $85 million assets over liabilities, however while BPZRQ is trading above $0.05, we are at $0.15. Now, here's the sweet part, DUNRQ's assets are all located in the US and verifiable, while BPZRQ's assets are all located in Peru. More so, as late as last month, a buyer completed DD for DUNRQ. The only reason it fell through was that management insisted on the original terms agreed in Sept 2014, while the buyer argued that it should be about 40 percent less to reflect decline in oil price. Assuming the later argument is true, ther merger was to be executed at $0.18 per share. That price is still over 1500 percent from current PPS. So, WE BUY AND HOLD!
Slowly buying and adding here under $0.02. For a company that was just about to be sold for $0.30 last month. Assets at $229, liabilities at $144...I will be here through May and see where it ends. The more attractive part is that Mgmt refused to lower the $0.30 agreed price of the PPS for the merger and that's one of the reasons it fell through. I hold about 290,000 shares now. Bot 80,000 today.
I guess most folks were surprised to see that the assets are substantially higher than its liabilities. The volume suggested that folks were pretty surprised and just held on to the shares. Folks like me waiting to buy at $.03 were disappointed. I will watch this one early tomorrow.
Interesting..these guys believe MX is worth over $24 per share. I started buying at $6.40 and bought more at $5.80. I just added 3500 at $5.30 today. Now holding 11500. Happy weekend everyone. Not sure many of you are here...this board is dry.
Yes, CORRECT: They bot back $90 million worth of shares in the $15 range. Check it out
MX bot back $90 worth of their stock in the $15 range. They cancelled the remainder of the buyback due to the restatement. Watch for BUYBACK PR soon. For a company with over 3000 patents across multiple product segments, huge their product reach and over $125 cash (excluding $77m receivable) trading at less than twice its cash, come onnnn!! I like to be in here.
Just bot 3000 at $6.90. I can't wait any longer....
Sold 59000 of my 89k to someone at $0.02. Was hoping to dump the other 30k at $0.025. Fools will always buy. That's why it is called market.
You may see the crooked MMs (they are in on this crime) try to inch it up to get more suckers. So, for that reason, I am holding 89000 shares. Will dump it at first opportunity
There's nothing to read here...sell if it inches up. I guess the better read would be "Everyone is waiting for it to inch up to start dumping" before Houlihan dumps additional shares on fools like me.
Yes. If the fail to see the entire thing, just go to Google, select News, type Nigeria in the box and you will see a teacher using the thing to test school kids. But, I lost so much here and just mad with all the share sales. I will watch the trade action for now.
http://online.wsj.com/articles/ebola-in-nigeria-a-survivors-story-1416249391
Although I lost my shirt, it seems schools are using the Caregiver in Nigeria. I was reading this WSJ piece (pasted below) this morning and was surprised to see it being used in primary schools in Nigeria. If schools are using it down there, and JFK, CDC and hospitals are grabbing it, is it worth a buy? Wao...that got me thinking of getting some back. I will watch it for now. Posting this just to be "fair and balanced."
http://online.wsj.com/articles/ebola-in-nigeria-a-survivors-story-1416249391
I can't imagine how I got sucked in here by these scammers. I lost $7105 to these crook Houlihan and co. Some folks have blamed me for not doing a DD??? Hellloooo! I have have been in this business for over a decade. Check out the PR and interview Houliham gave in NY - where they stated that their caregiver is the only FDA approved clinical thermometer. Check out the filling prior to the Ebola scam. While putting out multiple PRs, this guys were practically calling all their creditors and dumping shares on them for sale. They carefully ensure the market by putting the PRs out and doling out shares. In about 7 trading days, Houliham dumped 86,000,000 shares on unsuspecting investors while claiming to be "enhancing shareholder value." He even raised enough to ensure his salary for 2014 and slightly beyond. Thank God, Liberia just lifted its emergency. I will monitor to see how he pays himself for 2015, or how he will liquidate the rest of the debt (including the securities fraud action that I am planning). I will get my hard-earned money from these scammers! Two days ago, I saw the stock at $0.015 and posted that it probably was worth up to $0.05 believing that the share count was about 55 million and with the hope that he would wait to dump more. Now, I just came out for lunch and saw that it is over 100 million. Sorry, I made that post although if you bot it because of that post, you are still up. What a huge scam.
Almost tempted to buy back my entire shares, but my hatred for Houlihan won't let me. I will overcome and grab some at $0.01..Will watch for that. I believe that it is worth at least $0.05.
Ever entered a taxi being driven by an armed robber? In SIMH, you have three tight-nosed armed robbers driving the taxi - HOULIHAN, REDWOOD, AND SIMH MMs. I took the loss yesterday and dumped> Just came out for lunch (thank God I have a regular job - not stealing from poor folks like these crooks) and saw the fake 8K they filed. It confirmed what I have posted yesterday - that these vicious gang - MMs, Redwood and Houlihan - are just highway robbers. NO OTHER WAY TO LOOK AT IT. And it is horrible that some posters on this board support them. My prayer for them is that nothing good will come to them if they used my money for their business. Since they robbed me using EBOLA, I will hope that somehow, THEY ALL GET EBOLA!!!. No more post to this board.
Doc..sorry, I changed my mind again. I'm out for good. SIMH is not a stock. It is a tool for MMs, Redwood and Houlihan to rob retail folks in broad daylight. The first decision is usually the better one...I should have kept it. Bye if you are still here. Houlihan is a problem. He may actually be shorting it - his twitter account has the words "@305hedge" to it. He is just using the market to move on. I haate myself for falling in his trap!!!
Doc - any reason why these fools are not filling the $0.029 bid? THEY ARE NOW BRAINDEAD OR WHAT??? I am waiting at $0.025
You have to call them to buy SIMH. Not just Etrade, Fidelity and more. But they'd fill your order and charge you the same rate as if you did it yourself. Waiting hand-in-mouse for another EOD buy for today while hoping that somehow it comes to my load-up target to enable me file a 13G. IT IS A GOAL NOW...and I keep getting tempted to do it at this price, but something in me keeps telling me to hold and wait. So, I hold my mouse and wait.
The BEAUTY ABOUT FOLLOWING GREEDY SHORTS IS THAT THEY SHARE THEIR LOOT. MOST TIMES. YOU ACTUALLY END UP MAKING MORE THAN THEM IF YOU TIME IT WELL. Now, I wish I waited a bit, I could have taken out 3 million shares down here, but it's all good. Waiting for my doubling target whenever they are ready!!!
Doc..aren't you surprised what $5400 could do here? It gave me 181818 shares today. That brings my total to 581818 shares, and knocks down my average here down to about $0.056. The game here is to double this at around $0.02 and see my avg hovering around $0.04. I AM NOT BUYING ANYTHING AGAIN BUT SIMH. Have sold down most positions to wait for these silly idiots shorting it down here.
My next buy is at $0.025. Whenever you fools are ready. Bid is waiting for 460k shares. We are here till the end. By the time we come to $0.015, my 13 G will be in. Now, I hope the MMs help me file my first 13G here. Thank you.
Took another 140k. Now 540k. May have to file a 13G here by Friday. Only $24000 for that. Lets see how to achieve that today.
Doc Hollywood, I just bot 120k more. 400k now. I saw your advice...but you will make some money here I believe. Ignore these moves. The fools doing this shorted from very high - above $0.30. So they will be able to pocket more if they could push it lower. They have covered a lot with those new share sales, but it is over now. Company probably sold out 4-5k plus backlog. And this story has just begun. I bot 400k today and will add to it on Wednesday. Bye
BOT BACK 280,000. I guess I was over frustrated with Houlihan, but I am very impressed with the numbers. I also did not reckon with the market at the US Embassies worldwide that would now have this as a requirement for visitors applying for Visa. Now, I am mad that he had to wait for capitulation to release the news. And I also think that the share conversion turned a lot of us off..but apparently it is what it is. I take back my frustration and would be adding to this position by EOD as I exit other stocks.