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Yes, it does.
But then the number of authorized shares depends on their choice and they have decided not to decrease it. It's the only thing that wouldn't change.
All in all, if they want to attract investors like institutional ones and funds like said in their filing, my opinion is that they would like to make it attractive to invest in HNHI which means that it would only works if theses investors can expect the price per share to increase over time. So I still believe it's their purpose to make it beneficial to shareholders too but it's only my opinion.
Yes, it decreases the number of shares of the float as well.
And yes, just now $0.065 x 15 = $0.975 in theory.
Like it's now, trading on the OTCQB market, they can't be delisted because of the price per sahre as there are no requirements based on the price per share in the OTC market. It's just a matter of being current in one's filings.
But if they want to uplist like they said they would like to there is a minimum price per share that is required.
In their filing they speak about institutional investors and funds they would like to attract but I guess none of them really invest in the OTC market or maybe in the OTCQX market?
Honestly I don't know.
I suppose we'll get some effect from 50 Cent's headphones release which should increase the price per share not depending on a future reverse split but I can't say whether it's better to buy now or later.
(just my opinion)
Yes, when the company wants to uplist it is usually considered a good thing.
When it's a scam company that uses it for dilution purpose it isn't usually considered a good thing.
And your example is correct.
But it is up to 20 and they can decide for less like dividing by 5 as in one of their examples in the filing.
If you read the intial post it was more saying they would want to do it to protect themselves against the SEC like some outside threat which isn't the purpose of a reverse split. Especially when the SEC's purpose isn't to be the bad guys. But yes, I recognize I exagerated a bit in the way I said things in my post...
And for the rest, it was only my opinion but I still believe they won't do it just now.
They want to uplist, they said it several times and for the moment $0.07 x 20 = $1.4 for the price per share when they need at least $2 or $3 for AMEX and $4 for Nasdaq on the bid side.
I believe they have a preference for Nasdaq which is based on nothing more than KH going there for the bell opening some months ago and I tend to think they'll wait that the price per share is higher so that a reverse split lead the price per share above $4 on the bid side like required by Nasdaq's rules.
But it's all just my opinion and I may be wrong.
They spoke about it in a Twitter exchange with links to documents about the rules for AMEX and Nasdaq and, indeed, they also spoke about it in the conference call.
They would like to attract institutional investors and different brokerage firms and I don't think it has any sense if they stay on the OTC market.
Just some thoughts.
Wait and see...
I suppose it's in connection with their desire to uplist to AMEX or Nasdaq like they spoke about it.
No, I don't have any money available to add to my position and I don't expect it will change anytime soon unless I sell some other shares.
Unfortunately I bought a lot of shares at $0.07.
Considering the big number of shares that showed up today on the ask side I would say we're not done with the sell-off yet even if I hope I'm wrong.
IHub for level 2.
And for the rest, it's not fun to watch.
I don't understand why these people are selling their shares.
Is there a negative intention behind it or are they just in a hurry or ...?
Some shares got unrestricted and the float went from 6,435,616 shares to 65,226,630 shares in the last months and it seems some investors are selling some of those shares.
But why are they selling them knowing the potential of TVGoods and AsSeenOnTV.com? I don't know...
In general, are you interested in conspiracy theories or something?
Because all your fears and explanations look like you believe in some "power that be" out there that want to put the stock down like in a conspiracy theory.
There was a major conflict of interest when 50 Cent tweeted about the stock and there are rules about conflicts of interest. I hope you can understand this.
But why would you want that the SEC tries to ruin anybody's investment?
Are they the bad guys in the market wanting to make bad things to investors?
Do you really understand what the SEC is and do?
I asked them about the last available number of shareholders of record and they answered:
Welcome and it's all good when it helps to lock up the float.
I knew you would ask but I hesitated to post what I found because it relates to another company and we're not supposed to speak about other companies but it's for illustration purpose so I hope it's OK.
If all the investors were buying 200K shares the current float would be exhausted with only 326 investors.
As far as I'm concerned I've decided I had enough.
I bought 241,100 shares recently and now hold 511,100 shares at $0.19 and I can't reasonably increase my position more than that. The time I can hold my shares will depend on how my other positions are doing but I would like to hold as long as it takes to reach at least $1 per share in a stable way, not during a spike when not everybody can sell their shares.
Wait and see and hoping for the best.
Lucky you that you got unrestricted shares!
With the big amount of money I have invested in HNHI and looking back on all this it doesn't make a lot of sense that I bought it all on the market but I didn't know about private offerings and I don't have access to anything else than buying on the market with my European broker. If I keep on trading on the American markets I'll look into opening an American account. I found out it's possible with MB Trading and maybe others.
The last times I bought at the ask the shares were replaced by others but I hope there will be an end to this.
Where can we find information about shares that become unrestricted or restricted again?
By the way, I meant "several hundreds of thousands of shares" in my previous post...
For me, there is more "driving force" on the ask side for the moment: several hundreds of shares to sell if not more and just not so many investors to buy them. Last Friday I "slapped" the ask and bought all that was visible on level 2 at $0.07-$0.073 (100,000 shares) but some time later other shares were there again sitting at the ask at $0.07.
My opinion is that it's not the bid side that is the problem but the ask one.
Now that I have it again I've been watching level 2 for some time and there are a lot of shares being sold at low prices probably because of all the private placements and shares that got unretricted. Some people got shares cheap I guess and they possibly still make some profit when selling so low. If people weren't selling so low I think the bid would tend to adjust accordingly. I bought shares at the ask several times but, for the moment, more of them come back again and again around $0.07.
We'll need far more investors interested in HNHI to make it go up and hype may help or the psychological effect of good revenues once they get them.
I'm not in a hurry.
I'll have to wait up to two weeks to know whether I can buy some more shares and it would be great for me if HNHI was still trading at $0.07 at that moment.
AsSeenOnTV.com wasn't in the last 10-Q filing yet and if you read the article in Electronic Retailer Magazine, Kevin Harrington says:
It's the risk of the painting job.
I noticed that my few buys at the ask took close to 60 seconds to be executed.
I would say it was a bit too late.
It was executed as "form t" trade at 4:00:13 p.m.
It shows me the difference in the investors' behavior between the OTC market and Euronext (Europe) I also know and trade on. With the information we received about what TVGoods is putting in place I believe investors would have jumped on the stock if it were trading on Euronext. At least, I could buy a lot more shares at a (very) good price.
Or maybe not so many people know about it?
I liked the conference call.
It gave a good overview of what they are doing and setting in motion and it all seems to make good progress.
This and the article in Electronic Retailer Magazine (August 2011) decided me to buy more shares and I've taken the biggest risk I could.
Wait and see...
No but I would like to send an e-mail with several questions.
I have to hurry up now!
Ok, tell me where you saw HNHI ever was the parent company of Sleek.
And what about the definitive agreement between HNHI and SMS Audio: have you missed it?
Seriously, what you said proves you haven't done a lot of DD.
Yes, you're wrong but I won't correct you.
You just have to read the press releases and financial information like all of us did and you'll have your answer.
As far as I'm concerned I don't see why we always have to correct people who post information based on nothing but I have nothing against you in particular.
Now I see it's a bit different here because the one I saw donwgraded was trading on the OTCQB market and not the OTCBB one. It didn't get an "E" added to its ticker symbol like PSPW now has.
Otcmarkets.com creates confusion because they don't make any difference between OTCQB and OTCBB.
Thank you for your explanation!
And my post was deleted, sorry about that!
Thank you 1jk1 also for the link.
It would also be interesting to ask about PumMagic™ represented by Hulk Hogan.
I saw it happening with another stock:
PSPW was directly "downgraded" to "OTC Pink Limited Information" on otcmarkets.com because they are late with their filing and they'll probably come back to OTCQB/OTCBB as soon as their filing is received.
Thank you!
If it's of any importance for HNHI's revenues, I suppose we'll get some PR about it.