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Anyone know what happened to Dailymed? Looks like Richardson left WAG
http://www.prnewswire.com/news-releases/mirixa-names-marvin-richardson-as-ceo-279135361.html
after it gets revoked
So if another private company were to acquire this shell they would have to file a new form 10 along with other guidelines? And file financial statements for the shell or the private company going back 2 years?
I thought there was suppose to be a hearing on October 24th?
There was a trade today. how did that happen?
Ok but in the scenario where they re register the shares can old shareholders get shares in the new company via a stock transfer if the new company chooses to provide that offering?
http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=KADR
SEC Orders Hearings On Registration Suspension Or Revocation Against Arcadia Resources, Inc. For Failure To Make Required Periodic Filings
Sep 18 14
Securities and Exchange Commission (SEC or the commission) instituted public administrative proceeding to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of Arcadia Resources, Inc. for failure to make required periodic filings with the Commission. In this Order, the Division of Enforcement (Division) alleges that the company was delinquent in its required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceeding.
How long after suspension do they revocations usually take place? 120 days? Or does it depend?
Yeah not too optimistic anymore
Thanks
And if they did a stock transfer for the new shares
You guys are talking about the registrant as it exists today but if they reversed merged with a private company would the same rules apply? Like they did in 2004
trying to buy and order not being filled
Tragedy
So u r still optimistic then?
U r right. I just looked it up
Shareholder vote not required when dismantling the business?
What I want to know is did anyone ever figure out why there was no shareholder vote for any of this stuff?
Never good to be on the grey market. Just trying to find some good outcomes as well.
With regards to dailymed... If they own the member interests then they get to keep all the profit dailymed makes. If they reversed merge the new company would get all the dailymed profit it addition to the debt which could be converted to equity as well. Also the shares.
If I recall the purchase agreement stated specifically that wag purchased the assets but Kadr kept the member interests. That's at least how i interpreted it.
Bc u have no assets u are a shell and if you reverse merge you can claim tax benefits from all the net operating losses of the shell of certain criteria are met
That's what drove my interest here. At least that was the thinking over 2 years ago haha
I don't know what is going to happen. I just read that after 10 days the SEC usually puts you on the grey market which is not good. Eventually, the SEC can cancel the registration and your shares are gone from what I hear so I am really not too optimistic anymore
however, i also read that this market is where you go before you ipo. so to me i guess this is one good scenario
i thought that Jana still owned some shares of the shell, maybe they did maybe they dumped i dont know what happened since kadr no longer reports to anyone.
i believe that the shell still owns the member interests (the equity) of dailymed. that would be a reason for WAG to acquire the shell which would also acquire Jana's stock as well as the 30 million in liabilities which to me is a small amount of additional debt for wag to take on considering what dailymed had potential to make
there are also warrants that expire in 2015 which i thought jana had too if i recall but it has been awhile since i read the last Q or K that was reported
that would also get transferred as well.
just all seems a bit strange.
kadr still had 107 million shares it could have issued to pay its debt. I feel like when this stock was trading at 30 cents before it tanked they could have easily issued the remaining 107 million and restructured any remaining debt. I thought their margins were improving quarter over quarter with dailymed and the services segment was holding steady.
just dont really know what is going to happen. wish i could be more help for u
They are suspended until Oct 2nd. Afterwards they will probably be on the grey market. Usually that is not good but this is also the market you ipo from. This happens at the same time Jana gets elected to wag BOD which is interesting to me. They also own 1 percent of wag and promise not to exceed 4.9 percent. I wonder if they acquire the Kadr shell what percentage that puts them at.
Yep almost 2 mill in volume last 2 days when it has been dead for awhile
There has been no new dailymed news for wag in awhile. I find that interesting as well
Interesting morning
Interesting close
Haha that's how much the report costs lol
You too
Holding now. Bought more on the dip. Roth raised to 25 and brean raised to 19. I think next leg up soon IMO
Price targets raised
Negative
you can today
not that this means anything but...
http://www.arcadiahomecare.com/pdfs/press-release-arcadia-partners-with-alzbetter-2014-07-07.pdf
Haha yeah I agree another dip tomorrow and I will get more of a position going for sure. Thought about more today. Trying to be patient
At least in my opinion. So disappointed... Kinda pissed actually
Unfortunately after some of my own dd I had to get out. May get back in if it goes a lot lower. Dropping 4 a share in valuation doesn't happen at maxim without good reason
Agreed
I'm back as well glta
Pretty steep downgrade here