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Oh look, the PGYC buyout that everyone was talking abot yesterday as proof the pinkie buyouts can happen at huge multiples to current price has been announced with the buyers name.
It is not the Lees or HanBool but close enough. It is the company that is the largest buyer from PGYC and who just signed some huge contract with them a week ago. Located in Turkey -
Huh, quite a coincidence.
Anyone see a pattern here in pinkie land?
Ok I'll admit I was really excited about today and the PR wasn't what I was expecting I thought we were informed that the buyout price was gonna be announced also... so I'm not going to jump for joy yet... I'll have to explain to my friends who also invested in EESO.... BUT!!
Ninja,
You may end up with alot more to explain to your friends. Classic pinkie stuff where people get their friends involved and it typically end sup badly. You may want to tell them to make sure they do not have more invested than they can afford to lose.
I wonder how similar this offer will be to PGYC which was touted on here as proof taht buyouts at 500% of price can happen?
Think that Han Bool and the Lees might also be the buyer there?
Oneinamillion,
who is the US domiciled entity that is the buyer as per the original PR?
oneinamillion, as moderator could you explain to me in iyo why does this stock go dn on new there is now a third party and a higher buyout offer. I am new to pinkies, but a buyout is a buyout
Not in the pinkie world...a buyout is typically a way to prop up the stock price while the company owner and friends sell off their shares.
What is amazing is that there are still people here who think this is legitimate so it is possible that Jared will return from South America and increase his AS count so that he can issue more and drag this on even longer.
I am 50/50 on him coming back from South America.
If he does, I am guessing that there will be one more franchisee PR - a bottle of enzyme to the local Burger King.
Come one people - what buyer in this is a US domiciled company as stated in the original PR.
And why does Loss Prevention and Management Company have their acronym wrong (LMPC instead of LPMC)? Because it was all likely made up in the waiting area of the airport as they hoped not to be recognized while they hopped on a plane to retire somewhere that they hope no one will recognize them.
HERE COMES THE BOUNCE!!!
But the cat is still dead!!!
Yep, US domiciled entity is in the original PR. Do not see that in this one.
Also have to love the Loss Prevention and Management Corporation is shortened to LMPC so they even got the acronym wrong when they wrote this on the napkin.
Time for them to start realeasing some equally funny contracts etc.
Of course Jared is headed to South America for a couple of weeks. The bigger question is who thinks he is coming back from South America??? One way ticket or two way?
"As the day goes on the buying pressure will
increase incrementaly. There could be a panic
to get in by the end of the day. I see a PR
before the close."
But when there is no PR, it will become panic selling since many are here waiting for their lotto ticket to come in and based on some of the posts on here, there are many who have no clue what they just got themselves into and how unregulated the PINKs are. I feel bad for those who have more than they can afford to lose in this or more than they can afford to have tied up in restricted stock that may come their way in some kind of "buyout" that does not include any cash - just a fudged valuation on whatever new comany they are combining with this one and claiming will help increase value in the long term.
All IMO but I do not like how this appears to be ending - or at least delayed...time will tell.
Yes, every bit does help.
At $200 for this sale and a 30% margin, we just made $.00000003 per share profit. (Asuming no dividends payable on preferreds).
Of course we need to pay Mark more than that profit amount to PR this but, hey, every little bit counts.
How much do you think they will offer for the Preferred Shares that are out there?
Oh wait, we do not even know how many preferred shares there are or what their conversion rate is - they may be convertible at a rate of 100 to 1 now the value of the company gets even more ridiculous even at a 10 cent per share offer let alone the 27 cents or whatever you want to make up at this point.
And now it is trading at about 5 cents a share so a full 52 cents below the offer price.
I asked for a buyout at 500% of market price that actually happened - cash in pocket to sahreholders.
Anyone....
Either share swap or no counter offer at all. I think it is possible that IF there ever was a buyer that they not even come back to the table.
At .10 per share they are paying $20 for every $1 of revenue last year and about $200,000,000 for every dollar of revenue that is not sitting in accounts receivable and likely uncollectable.
Lorne,
Here is what is wrong IMO. Name one other buyout that was at 500% of the market price going into the announcement of the buyout?
Just one...any one in the history of the stock exchange and that actually happened.
He would have been better off saying the buyout was at closer to 3 or 4 cents and that was not enough. More people might have found that believable than a 10 cent offer with the stock below 2 cents.
I also predict tomorrow's company name will be so generic(ABC Holding Company) that it will be impossible to trace if it is a real company.
Here lemming, lemming, lemming.
Sincerely,
Cliff
Do you mean the NICA one that was PRd over a year ago?
http://www.marketwire.com/press-release/Enzyme-Environmental-Solutions-Inc-849166.html
Where I come from, we call that type of PR wording "weasel words" as you can spin it to mean whatever you want. I am confident that they will spin it to mean that the decision will be in the coming weeks with some sales announcements as well rather than a decision tomorrow.
Based on actual receipt of cash from buyer rather than shipping of product since accounts receivable seems to be a problem here.
2009 sales estimates, anyone?
+_10__= domestic commercial (mcdonalds + "additional sales announcements"?) today's oprder coudl ahve been for one spray bottle at $10 for all we know
+_??__= domestic retail (wowgreen forecast?) Gelato di Roma history has me skeptical of this one - check out some of the PRs on that one
+_??__= international (south korea, peru?) Payment issue and FX problems make this one hard to figure out
+_40__= new business in 2nd half/unreleased? 4 more MCDonalds?
=_50__ TOTAL
Color me skeptical the more I look at this thing.
Todays PR:
The team plans to announce additional sales successes in the coming weeks (amidst a decision on the company's prospective buyout offer with surrounding details to be disclosed via Press Release on Friday, May 15th).
So are they announcing a decision tomorrow or surrounding details? They have a way with words - NOT!
You guessed my next question...
Hardly worth putting in the sales column and counting as profit if they can not pay you..Guess Jared might get a chance to be on the other side of a "we got stiffed" lawsuit except it won't be for $12,000 of markers.
Q3 sales last year were $8 million unaudited.
Do we know who the customer(s) were?
Can anyone shed some light on this for me: I posted it earlier and no answers yet. Does no one know the answers?
Not completely a moot point.
Jared's preferreds need to be bought if the company is taken over.
At inception (Dec 31, 2007) there were 1,000,000 of them outstanding that were valued at $200,000 on the Balance Sheet.
Same value at the end of Q1/08 and Q2/08 and then at the end of Q3/08 the preferreds O/S are no worth over $2.4 million and at the end of Q4/08 they are worth over $4.3.
Have they been issuing preferreds that need to be bought and if they need to be bought, at what price equivalent. If they are convertible into commons at some ridiculous rate (100 to 1) then what happens.
And why does the value of the formulas, which makes up a big piece of the company's assets keep changing. They were once valued at a round $50,000 per formula but now seem to be taking on wierd valuations?
Not completely a moot point.
Jared's preferreds need to be bought if the company is taken over.
At inception (Dec 31, 2007) there were 1,000,000 of them outstanding that were valued at $200,000 on the Balance Sheet.
Same value at the end of Q1/08 and Q2/08 and then at the end of Q3/08 the preferreds O/S are no worth over $2.4 million and at the end of Q4/08 they are worth over $4.3.
Have they been issuing preferreds that need to be bought and if they need to be bought, at what price equivalent. If they are convertible into commons at some ridiculous rate (100 to 1) then what happens.
And why does the value of the formulas, which makes up a big piece of the company's assets keep changing. They were once valued at a round $50,000 per formula but now seem to be taking on wierd valuations?
If Jared owns preferred shares that are convertible into common shares, do we know what the conversion rate is?
I am doubting they are 1 for 1.
Anyone know for sure?
I have been using a similar enzyme based cleaner called Kleen-Free (http://www.kleen-free.com) for years.
Enzymes can do what EESO claims they do but they can also help in controlling insect problems (lice and bedbugs and mites) I am surprised that EESO has not headed this direction.
Are they onto somethig new. Not at all Kleen-Free had been around for about 10 years. Could their marekting plan work for them...who knows.