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Mac - Thank you. I'm surprised Fivestar didn't point out that the outstanding shares weren't maxed out to 500M since he was screaming about the company's treatment of shareholders. So how many shares were shorted, instead of diluted, to keep TECZ subpenny for so long that may still need to be covered?
I was encouraged there were buyers yesterday at .02 even though the news of the reverse was known to some.
After the reverse today the OS shares will be 3.75M and I assume there are now 50M AS. We need Technipower to update the financials, get off the pinks, and give us some substantial good news to keep buyers interested. Shares will be scarce UNLESS they start diluting heavily. Volume and buying interest will be key.
Congrats to all who've made money SOLM. Let's make money on TECZ also.
I grabbed a few more shares at .16. Let's go up from here.
No volume. Just one 2K share sell at the bid. People are holding. Market makers may try to run stop losses if they can.
Very nice to see steady news coming out.
Just my own term taken from the ancient myth that symbolizes "rising from the ashes". I've been playing a lot of them lately. :)
From WIKI:
"A phoenix is a mythical bird with a colorful plumage and a tail of gold and scarlet (or purple, blue, and green according to some legends). It has a 500 to 1,000 year life-cycle, near the end of which it builds itself a nest of myrrh twigs that then ignites; both nest and bird burn fiercely and are reduced to ashes, from which a new, young phoenix or phoenix egg arises, reborn anew to live again. The new phoenix is destined to live as long as its old self. In some stories, the new phoenix embalms the ashes of its old self in an egg made of myrrh and deposits it in the Egyptian city of Heliopolis (sun city in Greek)."
Bilachos - Thank you for the reply. The volume today is impressive. I will take another look at it. Looks like a possible phoenix play.
Nice close. Patience is golden. :)
Hi everyone. Lost track of this one. Does anyone know why it's moving suddenly?
Congrats to everyone today!! Thank you to Coach T, micmacpole, ABIGHAMMER VivaLasVegas and probably several others for educating me about the LEH issues over the past few months. I've learned a lot and truly appreciate all of your efforts to share your knowledge.
Our turn for a strong move soon. :)
Agree that's why I hit the ask on the NQ's earlier today.
Whichever one you get the cheapest (or the easiest). By cheapest I mean at the ask price since it can be difficult to get filled at the bid or in between. The NQ's have the best volume today but tomorrow it will likely be another CT. They tend to rotate. KQ's were bidwhacked today.
I agree. The J's are nice for the liquidity and are still undervalued. Should be .30+ and I hope to see a nice spike in the CT's very soon. They should be trading over $1.
I confess to selling some J's at .21 and buying some NQ's this morning on a rollover. Still holding a nice amount of J's from single digits though. CT's are far too discounted here at .30.
Nice day here!! So who caught the 10K shares after 2 pm for .008? Talk about a rogue trade.
Coach - too funny. I was just telling an impatient friend on the phone that I wouldn't be surprised to see some news one morning, and then the CT's and P's all open up at 5-10% of face value in one huge jump.
Someone please either fill or kill DOMS. TIA
jjr19 - See my earlier post.
1:10 would be proportional with AS at 50M. 1:20-25 might be necessary, and not that out of line, if they want to get the price higher for institutional support.
Again, much of their plan should be based on SOLM's expectations of future business opportunities, and to some extent, on the timeliness and potential outcome of the TOY litigation. None of this information is currently available to shareholders.
Communication to shareholders on the business forecasts and current financials would be something I'd like to see soon.
I should add that at the current .023 pps, the above structure would not get SOLM to a high enough pps target for a RS to benefit them greatly. However if the share price could get to .20 to .30 range on good revenue and growth guidance, they would be feasible imo.
Fivestar - I am aware that they can do what they want since they are pink. I'm just pointing out that discussing how they might structure a reverse split, or if, is still speculation currently.
I may consider contacting the company if we do not get a business update soon though they wouldn't give me any nonpublic information. The recent news has been good, and the company appears to be much better positioned than it was a year ago. I think SOLM has the opportunity now to correct some past missteps. Let's hope they do.
Fivestar - Again that was the reverse split proposal which has since expired. What SOLM does in the future, if they revive the RS, could be structured more appropriately.
What shareholders really need now is information on the current OS since the last filing, updated guidance on business forecasts and any restructuring of debt.
It's possible should SOLM choose do a reverse split in the future, it could be 1:10 or 1:20 which would bring it in ratio (or closer) with the 50M OS. The recent reverse split proposal has expired so what they might do in the future is simply speculation at this point.
I agree that with an improved financial and business forecast, a reverse split to a higher pps making it possible to list on a higher exchange and attracting institutional investors would be a good thing imo.
Fine with me if the MM's want to keep selling the J's at .07. They aren't the only ones accumulating shares at this level.
Unreal the way the J's are trading. Heavy volume and the J's close down 9% while the commons are up 15% at more than double the price.
I picked a few more shares at .07 today. Could be DOMS is still trying for a big fill at .05 and is working with NITE to shake them out...BWTHDIK
More trading games. 1k share trade at .05 to DOMS with NITE on the bid at .064 and then 14800 trade thru at .064. MM's really wanted to print that nickel.
Coach - I love your enthusiasm. I am wondering why the bonds are so sluggish to respond. Is there a way the bond price can be manipulated? Also how does Lehman trading here compare to other parlay plays you've been in? It appears it's being held on a very tight leash. The news is much better now than it was back in the spring and yet no sustained gains in the price action for this group.
Tia for any insight
They filled my 1500 @ .065 lower than my bid. I have the feeling DOMS is going to get a big fill at .061 before the day over.
Good for you. Very strange. So maybe someone should smack the ask for 200 shares. My 1500 are still unfilled. Lol!
Just bought 500 shares at .07 with a standing bid in for 1500 at .067. Look at the tape. 1000 shares traded below my bid right after I was filled for 500 at the ask.
Orders are small I realize but it gives you an idea of how the MM's are playing it.
The lack of liquidity in the CT's and preferreds is keeping them at a deep discount imo. The "pros" are trying to shake any retail out and the traders are playing the commons since they have volume.
We need the Lehman debt bond prices to rise again before the MM's are going to remove the choke collar imo.
Yes they did. I'm now holding a decent position in J's thanks to the unbelieveable volume with no price change. And I finally managed to get decent fills on the bid with these today. I wonder how much longer this fire sale is going to last.
Agreed however the MM's (or their computer programs) are the reason liquidity is a problem for the preferreds and the CT's imo. The selective order fills get old day after day.
MM's have screwed around my bid all day which isn't an AON. Won't show me and won't fill me even though its higher than the last 50K shares that have traded.
Nice move SOLM! I have sold a bit over 1/3 of my position after averaging down to .004 and locked in some nice gains this week. Sold most at the ask at an .022 average.
There is strength still and some quiet consolidation would be very bullish imo. I wonder if this quiet sustained rise could be due to some short covering by our friends at T*Y and not just the "news".
GL to all SOLM holders. Looking forward to seeing what SOLM has to left to tell us.
LOL! Very funny Siir. Those glitches and their frequency seem to be very selective to certain stocks for those types of technical issues.
Bid is/was at $3.55. You could have several bids higher than 2.75 and the MM's (or software) just route some trades selectively.
Mega short squeeze in the commons.
True I just find it amusing. Should get interesting when the MM's finally let the trusts run again.
The way this is going now, the commons and the kq's may be trading at the same price by Monday or Tuesday. Somebody slap the ask so hard, the MM's have to print $1.50 at the close please. lol!
Fivestar - Thanks for the invite but no. I have too many irons in the fire right now.
Kitty - I found 8B allocated in the stimulus package for energy efficiency with a first installment allocation this past spring of 780M. Solar panels should be part of that package.
We do need SOLM to update the financials and start speaking in real numbers.
http://www.recovery.gov/?q=content/administration-announces-nearly-8-billion-weatherization-funding-and-energy-efficiency-grant
Oniro I agree. It needs repeating. :)