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Anyone here doing their taxes? I have the tax information letter from wmi but don't know how to report it. I'm surprised I can't find any discussion anywhere considering how many people were involved.
We have to report it somehow.
And btw, I second the whoohoo someone posted last year. The check was a nice surprise.
It sounds to me like z's are close to worthless and you're all being scammed to buy someone's warrants. The terms are about 4 warrants + $45 to buy 1 share hymc. So without winning a lawsuit, and there isn't a lawsuit right? your warrants are worth pennies. This "book" written by some guy, is ridiculous. "A total of $608,985,000 in secondary offerings were given to the current Hycroft Mining (HYMC) management by the previous Allied Nevada shareholders," What does that mean? Given to? You may all get this to run higher but it will eventually end badly.
This stock is so thin and I don't know whether it's really a $3 stock or a $10 stock. There's no float. The financials are beyond my abilities to value it. If it's really a $10 stock the warrants are ridiculously cheap. I suspect the warrants are telling me it's really a $3 stock.
This has to have billions of shares outstanding. You don't want a reverse split? They don't file so we don't even know how many shares are outstanding right? I'm looking but I don't get why anyone really thinks it will go higher.
Don't assume the warrant will trade up to intrinsic value. The other possibility is that the common falls apart.
$500 million in long term debt. An enterprise value of over 800 million. I don't get why you would think this is cheap.
Would like to have seen them bring in some more real money like nikola did with value act and fidelity. But I like this. I don't know how to judge eos long term prospects but it seems like $2 5 year warrant is worth a shot. Could definitely come lower though.
Isn't there A way to remove GARBAGE like this!!!!%%$$$$
Nice trade. Smart.
Thanks - So to use one of your examples: "NKLA trading at $20 results in a cashless exercise of 425 shs (~60% less dilutive"
Cash exercise adds 1000 shares. So 575 additional shares.
At $11.50/warrant this raises $11,500.
The additional 575 shs raises $11,500 or $20 per share.
"NKLA trading at $80 results in a cashless exercise of 856 shs
Cash raised 11,500 for the additional 144 shares works out to $80 a share for that additional 144.
This is what no one seems to get. Cashless exercise results in dilution also and does nothing for them. A cash call raises money basically at the 10 day average. It's cheap. Quick. Better than any secondary. They should be done for cash, no question.
And cashless does nothing for them. They might as well leave them outstanding rather than call cashless. Why call them at all? They're not diluting earnings. They don't have earnings.
Cashless should not be an option for them. They'l call for cash or not at all.
Warrants are way too cheap,
Smiley - The more I think about it a cashless call makes no sense for them. It does nothing for them. Raises no cash. Just dilutes with lets just say 7 million shares as an estimate. They'd keep the warrants outstanding rather than call cashless. It's not like they dilute earnings. They don't have earnings.
I can do the math that shows a cash call raises money at a good price vs a secondary and cashless call. Too lazy now.
Bottom line - Cashless makes no sense, should not happen, and is very unlikely.
Cash call is a possibility.
DKNG just call for cash btw.
Your thoughts?
The way to think of it is that with cashless you're receiving the intrinsic value of the warrant in shares. So stock "price" minus 11.50 where the stock price is the ten day average close and and you're receiving that value in shares.
If the stock popped to 300 one day and they called them you'd be screwed because the average would factor in the nine lower closes. What you'd get is not based on 300.
Vice versa if the stock falls apart you'd benefit from the nine higher closes.
They should call for cash. They'd collect ~265 million cash that they need, The extra shares issued at 265 million works out to a high price they're selling them at. Cash makes sense.
No you don't- Smiley posted the formula below. You're a chess machine - plug some numbers in.
Basically- for your warrant you will receive the value of the stock price minus the strike price. You receive that value in stock based on the ten day average close. If the stock pops one day and they call you're screwed because the average is based on lower prices. If the stock comes down and they call you benefit from the previous higher days.
I edited my snarky reply because you're a chess player
Everyone is assuming they call warrants cashless. Calling them for cash raises $275 million dollars quickly. More dilution but $275mm done quick and easy.
I say they call for cash,
They're at too big of a discount in either case. The cashless adds uncertainty but you're still getting stock minus 11.50, just in stock. Depending on the ten day average that could be not so good or better.
Good question actually. The Loi could fall through. But fmci will get their extension and continue to trade. Warrants will fall back to 30 cents or so.
Well you can buy warrants now at twenty cents.
Metx float ~350,000. Spac merger.
Algrw just as cheap. Why not buy those?!
These are worthless. I am jealous that you guys can pump worthless items and apparently sell them higher. They're worthless
warrants 7.66 strike.
USWSW Warrant Agreement — On May 24, 2019, in connection with the Initial Closing and pursuant to the Purchase Agreement, the Company entered into a Warrant Agreement between the Company and Continental Stock Transfer & Trust Company to provide for the issuance of the Warrants. Pursuant to the Warrant Agreement, the Warrants are exercisable into Class A Common Stock at an exercise price per share of Class A Common Stock equal to $7.66, subject to adjustment, beginning six months after issuance. The Warrants have a six year term.
1 warrant + $11.50. Won't be exercisable though until shares are registered. 5 years.
Warrants are cheap even if it's a $9 stock.
After redemptions there are now about 350,000 shares in the edtx float. Chinese online education. 350,000 float. There's a reasonable shot this will be higher on Monday. Maybe not, but we'll see.
Warrants are the usual 11.50 strike. Not currently exercisable.
Didn't know there was a spac board here.
EDTXW 11.50 strike.
Edtech merger approved by shareholders. after redemptions there are about 400,000 left in the float I believe. This has a good shot at running much higher.
"Included in the shares outstanding and weighted average shares outstanding as presented in the pro forma combined financial statements are 34,800,000 shares of our Common Stock to be issued to LD Topco’s shareholders, 360,435 Pivotal public shares which were not redeemed"
Cash from pivotal was about $4 million. Only 360,000 shares were not redeemed. Spac holders took their cash and ran. They couldn't convince any of them to stay in.
Your article is from august 2019.
Does the $400 million in debt concern you?
Warrants are trading where they are because holders know the common will drop like a rock when warrants become exerciseable. They can't short common so they are just unloading their warrants. Doesn't mean thay can't go higher, but it's why they're trading at the price they are. See phunware, peck, orgo.
Ok so how come this has been such a clusterf#$%#$ck? Still trading otc. The deal's been done what a month now? No other spac has had these problems.
Real question. Why?
WhoooHoooo! Just got 2 checks. I had no idea we were getting this. I can barely remember how we were screwed out of the big bucks so I'm pretty happy with this.
Can anyone tell me if this is correct? Warrants are cnbqf in the US? Exerciseable at 11.50 expire 12/21/25?
I have to research more but just wondering for now.
About 3 mil shares paid to mj freeway will free up when kern trades above 12.50 for 20 of 30 days. 900,000 pipe shares free up in three weeks. And the warrant shares will be registered.
6/21 filing.
You can play with this all you want for now but in time it's going lower.
What the price of the warrant is telling you is that the common will eventually collapse. No real long term buyer would be buying kern common with the warrants at 2 1/2. The common is being propped up by short term weak money day trading holders who will eventually move on.
Warrants are not currently exercisable but will be in about three weeks and common will fall apart. Private placement stock will also free up I think 30 days after closing or about 3 weeks now.
Kern will do what phun,orgo,hunt, peck all have done, which is collapse.
Short term who knows, but longer term do not believe that this one will be different.
Yes equity was cancelled, zeroed out, does not exist, ceases to be. The only place old corus common exists is on this message board.
Dimeq/wmih tax question Help please.
I was long Dimeq and received the package of wmih and cash. I look at my etrade 1099 and they have my cost every share of wmih I sold in 2013 as 9 cents. I received fractional shares of wmih for each dime and my cost should be much higher.
I would think my total money cost for dime should become my total money for wmih. Any ideas? Any other etrade dime holders here?
Taxes - Any Dime or wamu holders have any idea of how to handle taxes? I owned DIME - I now own wmih. How do I take my dime loss? Do I make my new wmih cost my old dime cost? And I have a letter from Nov from wmi that gives an LTI value . Maybe I can report my dime as a sale for that value?
I also have a 1099b from the liquidating trust to report.
I obviously have no idea what to do with this. Anyone?
The .05 per share was already paid along with the wmih if you opted in. This payment is in addition to that. I don't get it, but I think it says it's liquidating trust interest? and it's about a penny a share I received - not 1/7. I received four separate checks for some reason. There is a number to call at KCCllc. Maybe I'll call tomorrow.
Thanks. I posted before I thought about it. I have all my dime purchases saved.
Tax treatment of wmih shares? Is this a capital gain from the date of distribution, or from the dime purchase date? Not a capital gain? Anyone know how these are treated for taxes? I'm still long the wmih I received.
Thanks.