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How can there be 87m shares outstanding, 69m issued to BD, you hold 17m, we can account for multiple millions amongst Dr P's members, and multiple millions from IHubbers, and BD hasn't sold a single share?
The numbers don't add up.
Also, do you really believe that Dyne et al want to risk criminal prosecution for stock fraud and manipulation? Atrinsic is peanuts to them in the grand scheme of all their dealings.
It doesn't make sense.
Speaking of their website, would a company about to declare BK or go out of business suddenly update all of their SEC filings after not having listed them on the site for weeks? And they did this after supposedly "going dark".
ATRN - The Stock That Makes No Sense
I DON'T KNOW DID THEY?????
It's Buddhist by the way. And if you're really a Buddhist you'd understand the concept of "balance". Just sayin'
hao yun
I thought there were 50m shares short (that's what City posted last week)? If there's only 14m in the float I doubt the whole float is short plus another 36m naked.
I thought BD sold some (or all) of the shares they were given which is what caused the sharp drop?
I don't think anyone knows for sure, but there were a few huge volume days (50-100m shares traded) during that time period.
Good post. One thing that keeps me optimistic is that BD agreed that the notes could be converted into common shares. If they thought (at that time) Atrinsic was going to go BK and wipe out common shareholders I doubt they would secure the notes like that.
On the other hand, the fact that they were allowed to short the shares into the market might be construed as a lack of confidence on their part. Or they may have just needed some cash themselves and sold stock. We don't know how much they sold.
Another thing that keeps bugging me is why deregister the remaining shares if you need cash and proceeds from those shares could have raised over a million dollars? Unless of course they had a deal in place already and the buyer is assuming their liabilities.
Based upon all of this, and the fact the company appears to be moving forward, I don't see where BK would make sense. Of course, not much of anything makes sense with this company right now!
chunk, what are they going to buy them with? They can't even pay their bills! Our only hope is a white knight.
If that's what I use it for then so be it. But I think we should try to get enough shareholders to force them to disclose.
I'm hoping that assuming there's a buyout/merger the new owners are assuming the tax and other liabilities. At least they filed the Annual Report.
I'm still requesting physical delivery of my shares.
Well it certainly wasn't paying their tax liability to the state of Delaware
Perhaps this has already been posted but I can't search because I'm not a full member.
ATRN filed their 2011 Annual Report with the state of Delaware, but they are Tax Delinquent. Their tax liability is $180,000 and they still owe $163,928.45.
What does this mean? Well we know they are cash poor or else they would have been able to pay the note. The fact that they are compliant with the filing of the AR is a good sign, why even file the report if you're planning to close down?
It all comes down to whether or not they have a white knight, or they believe they can make it on their own by cutting expenses to the bone. The 3rd alternative, BK, is not something I want to consider although I'm well aware it's a possibility.
If you believe in free speech and personal responsibility you're not a true Liberal my friend!
As far as ATRN, we're on the same page. I want all of us to make money.
Have a nice Easter, next week should be interesting.
Do you really think Dyne is going to let BD f*ck over all his buddies? They're all in cahoots as far as I'm concerned.
Umm, did you really believe they'd have a stellar D&B after bleeding all that cash from Kazaa and not being able to pay their debt holders? It's a non-issue, of course they've had trouble paying their vendors and have been reported to D&B.
I'm requesting physical delivery of my shares next week
I'm willing to wait as long as it takes, but I'm definitely requesting physical delivery of my shares no matter what.
The SEC is going to impose a "No Stalking" rule on shareholders after this is over! Geez!
I agree. The only 2 scenarios I see (want) are:
- buyout/merger
- no buyout/merger and insiders buying at these levels because they know all of the changes being made will enhance shareholder value
If there's a 3rd scenario, it's not good!
I think this song is most appropriate heading into the holiday weekend:
Actually we did, look at late last year. They've been good for at least 1/month up until this past month. Now that they filed, I think we'll see some news soon.
Well if that's the case then I'd expect to see a flurry of PR's soon with CURRENT information.
Why do you seem so excited? It had nothing positive in it.
I agree, I suggested this the other day. We have to get 377 to get over 500 (if that 124 number was correct), I don't see a problem achieving that between here and Dr P's members. It's not hard to do and makes sense to me.
Then we have more leverage.
That's assuming there's a merger/buyout. Although it appears that way, if none then we could go a long time without hearing anything. Hence the need for patience if you believe the company is committed to enhancing shareholder value in the absence of a merger/buyout.
ATRN, BD, Kenshoo, and anyone else involved in this alleged transaction are NOT buying the shares, that would be insider trading. They weren't buying the shares when it dipped to .083 either, that also would be insider trading. If this deal was negotiated back in November as some have said, any of the parties involved buying the shares would be trading on insider information.
It's not happening. They don't care who owns the shares at this point. In the absence of news the supply/demand will determine the price and shares will change hands accordingly, like any other stock.
Other than some people harrassing the company as if they're really going to tell them "yeah we're getting bought out by _________ and the price is _________", if I were the board/management/employees of ATRN and reading this forum I'd feel pretty good about the fact that I have a nice base of shareholders who believe in the company and are supportive of our efforts.
Therein lies our dilemma - everything seems to make sense, except the stock price.
Unless of course they've been averaging down themselves, and now they don't have to report it
If that's true (and I'm not disputing it, I just don't accept everything posted on a stock message board as Gospel), then between here and Dr P's members at least 50% of the "known" float is locked up between the 2 forums. I know smoke'em claims 17m shares or so, I hope he has that many I just haven't seen his account. I know for a fact what Dr P, me and several others have.
People need to stop calling/harrassing the company and employees. They're legally bound not to say anything and I wouldn't be surprised this is one of the reasons they went dark.
Like others have said, if you can't take it anymore just sell. Trying to get blood out of a rock isn't going to work.
Great post and my sentiments exactly!
Exactly! I've been saying the same thing all along. Who the heck is going to hire someone to be President of a business college if they just ran their previous employer into the ground?
It makes no sense!
MM's will continue to take it down without any buy pressure right now; they know there are still a few weak hands out there.
Thanks. I hold a pretty large position in this stock (averaged at about .065). I'm not very optimistic based upon the fact that production for the $12m purchase order was supposed to commence April 1, and there has been no press release stating it did commence. One would think that the company would update shareholders since this obviously was big news when it was announced.
At this point I'll just let it ride and if I take the hit so be it. Hopefully there will be some positive news to cause a spike that will allow me to get out close to even.
OK, so the numbers are cumulative, not the total short position at the end of each trading day?
Where do you see 15m short, that report shows 56,172 short and 691,727 short exempt.
What am I missing?
Certainly, as would any 35% shareholder. That's pretty much boilerplate language.
"MCV in January 2000 called him "The Deal Maker" and published his Ten Rules of Negotiating."
Does Dyne "The Deal Maker" really want his Wiki page updated with:
"And he was one of the driving forces behind Atrinsic, a promising company that went bust in one of the fastest-growing markets today."
That goes for the rest of the All-Star BOD that ATRN has.
I just can't believe "The Deal Maker" will screw this up and have that added to his career "highlights".
The debt wasn't that large to begin with, so why pay it down if you think there's a good chance of default? Any of the big players in this company could have written a personal check to cover it and not even notice it in their bank balance.
Dyne et al would never let the company lose all of its assets over such a small amount in the grand scheme of things. It makes zero sense. Especially since they appear to be moving forward with new clients, new hires, conferences, etc.