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Velti's (VELT) Mobclix mobile ad network unit has filed for Chap. 7 bankruptcy with a Delaware court, and other U.S. Velti units have filed for Chap. 11
Isn't the core of their business in the NON mobclix now anyways? So that entity would continue functioning, albeit, under Chap 11 (not 7)?
Still completely dead?
Velti hiring....
If the company is going bankrupt like some are saying, then why would the company be hiring? Companies that are going to file certainly wouldn't be hiring anyone in the short term.
Anna Gaughan ?@annaspursuit 24 Oct
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alexander_knorr ?@alex_knorr 27 Oct
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Q3 Earnings Call Question.
Since on the previous earnings call they did not provide guidance on what to expect on the revenue/GP do you guys have any idea what the street is expecting for figures around revenue, cash flow, etc?
The other issue that we really haven't discussed are all the lawsuits. Even if Velti turns out to be completely clear of those charges, they will still have to focus more finances towards the litigation process...something they really don't seem to have a lot of to toss around for non-business related expenses.
I'm failing to find any news or any relevant backing as to why the stock has completely tanked and continues to fall over the past 2-3 days. There's too many shares changing hands for it to be any insider trading info, but I'm completely at a loss as for the reason for the 20+% nosedive. A CMO leaving certainly shouldn't equate to a 20% drop in a company's overall valuation... Are some of the hedgefunds totally bailing on the stock and just cutting loses?
You guys have any ideas that might make any logical sense?
Something worth noting, if the CMO who was a co-founder of MobClix has left, might that be an indicator that they have finally found a buyer for that part of the business? Wouldn't make much sense for her to stay with the company when her piece of it is no longer part of the Velti portfolio. Just some food for thought.
Sadly not the stock price....
Bankruptcy? Do we think there is any way this company doesn't go down the tubes? Sell now and at least get something or wait until it's completely worthless?
They had mentioned they have 19MM in cash on June 30th and they really aren't close to turning a profit it seems....how does this company not go under?
With that said, is there even a way to sell the stocks to then have it count as a capital loss?
So now what is the question I had?
If we can't sell the stock for a loss, is there any way to claim these losses against any gains we may have made, say for this 2012 fiscal year?
If this stock jumps at all, you will see every member of this board for longer than 2 months dump every share they can and run like hell the other way. Will be enough to sink whatever potential gains are out there.
This potential "merger" makes zero sense. One is an IT firm around cloud storage, another is an alternative energy source for automotive tech. I think it's entirely bogus, which to anyone on this board should not be at all surprising.
Sounds to me like another version of what happened 3 years ago. Hype up the stock through nothing of substance, get the price to jump, then turns out to be a complete fraud and the price goes sub 1-cent.
They probably had to sell the truck
Heh, and would you even buy it then?
As the year is nearing a close, doesn't look like this is going to end up being true, so again, misled from HYGN's false claims of "news".
Very good stuff, good to hear that they are at least responding to things still opposed to the disappearing act they'd done for the past year+.
Any particular reason the time frame?
That's certainly good that he's at least doing 'something', better than the nothing that we figured was going on for the past year(s)
What was the date of the email outside of 'recently'?
I agree, but if you can't sell the stock due to the lack of a buyer, then you still have to have a way to claim the loss of the investment.
How do we claim the loss in our stock investment when we file for or taxes given how we can't sell the stock even if we wanted?
What's the source of that?
I assume the trip by never happened?
Any update on the visit by chance?
Same thing on their corporate headquarters number:
4000 Tower Side Terrace
Miami, Florida 33107
United States
Phone: 305-572-9850
Interesting...up 12.5% today.
.....then back to the red.
Anyone else still holding on from the times where it was 0.90+ ?
Anyone hear of anything upcoming from this stock? HYGN is just slowly disappearing both in Volume and in Price and was wondering if anyone had any insight from anyone inside the company? Any information at all would be helpful.
Thanks!