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CHM,
Yesterday at about two minutes before close there was a transaction for 580K that definitely occurred. I believe EDGX was in position when this hit. There was also a 10K order that came in the day prior that was about .20 above the spread which I assume a broker had to pay to close their books. Just a bit far for me to think it was a market order. That 580K trade would have counted basically as 3% of the existing float. That is the first trade I have ever seen on DSS like that. It is also interesting that DSS has been on the Threshold SHO for entire month. That means even as of today there are at least 105K shares that have not been delivered to the clearing house yet. I appreciate your input and just thought they may have fit the parameters of CR. Something new for me to learn about. Heck not sure if we ever really know. LOL
End of week rant.....
1. Thanks to the board leaders for once again giving us a great forum to keep factual information flowing. Notice the lack of bashers that would normally be clogging the boards up. That should tell all the lurkers something.
2. In my opinion only, the last two days of trading have been between MMs. My simple guess is that the fact that short interest increased between 700K-1M in the past month, the fact that we have been on the threshold list during that time frame means the MMs made a wager one thing would happen and it didn't. This happens every day with them and they just do what MMs do. This will pass.
3. The big positive for me which I am sure is on no one elses radar is the fact that the DSS board has effectively been voted out and LTG can insert their board immediately.
4. For everyone losing their mind on PPS, either buy more or just hide until after 7/1. I guarantee the traders will be here after that.
5. Recheck the event calendar that is already "known" for next quarter. I don't even want to speculate on PPS in late September when you have pending Markman, and earnings release right after that.
6. Now if one of the big dogs on the board want to "estimate" O/S and cash position as of 7/1, I think that would help new investors/traders so they can plan accordingly. Mark my words, the next wave is going to be the dilution conversation. LOL Follow that argument through along with valuation math on any other IP play and see how that works for you.
Friday night fish fry-see everyone on Monday.
Nothing even close to being not approved.
8K out All measures approved
http://www.sec.gov/Archives/edgar/data/771999/000114420413036003/v348304_8k.htm
CHM
I saw you talking on IV on VHC about a CR. Is there a chance that the 580K was a CR trade? I am not familiar enough and too new at options to understand if that is the case.
DOZ..
This stock has gone into my hold pile so I am not really caught up on the PPS movement. This stock becomes watchable to me from 7/1-9/30. I have staked out a very good position and now just wait for new management to execute their end. As of 7/1 you have a company thats in the black, generating revenue and has some big fish on the line pre-Markman. I could not ask for better timing and better position. Turn off DSS on your screen until 7/1 and when you get back on that Monday-watch it. I am just another anonymous poster so don't take my advice but I am sure others that have been in this much much longer than me would echo the same. GL
Gents have a great night and congrats to the new DSS. I bet they took out every trailing stop and stop loss to 2.50. The company still has work but this is the best outcome you could hope for.
Now everyone go home and relax as Mr. Nolerman directed as your worries are over. We all have a company and how about that 580K order that went through.
ROCHESTER, N.Y., June 20, 2013 /PRNewswire via COMTEX/ -- Document Security
Systems, Inc. (NYSE MKT: DSS), a leading developer of anti-counterfeiting,
anti-fraud and authentication technologies for governments, corporations and
financial institutions, announced today that DSS stockholders voted in favor of
the merger of DSS and Lexington Technology Group (LTG).
The detailed voting results of the June 20, 2013 Special Meeting of Stockholders
will be contained in a form 8k to be filed with the SEC on June 21, 2013.
"We are pleased with the results of the vote and thank our stockholders for
their support," stated Document Security Systems' Chief Executive Officer,
Robert Bzdick. "We believe that DSS combined with LTG creates a unique value
proposition as an operating business in the IP monetization and technology
space. We look forward to completing the merger shortly and capitalizing on the
combined resources of the two companies."
DSS anticipates closing the transaction on or around July 1, 2013. The combined
entity, which will trade on the NYSE MKT exchange under the symbol "DSS," will
be managed by an executive team led by Chief Executive Officer, Jeff Ronaldi.
The members of the board of directors will be designated by DSS and LTG.
About Document Security Systems, Inc.
Document Security Systems, Inc.'s (NYSE MKT: DSS) products and solutions are
used by governments, corporations and financial institutions to defeat
counterfeiting and fraud and protect brands and digital information from the
expanding world-wide counterfeiting problem.
DSS continually invests in research and development to meet the ever changing
security needs of the Company's clients and implements these patented solutions
through strategic licensing and through the Company's four operating groups: DSS
Plastics Group, DSS Secure Printing Group, DSS Packaging Group and DSS Digital
Group.
Through these divisions, DSS provides counterfeit deterrence and authentication
coupled with digital information solutions to corporations, governments, and
financial institutions around the world. When implemented, DSS technologies help
ensure the authenticity of both digital and physical financial instruments,
identification documents, sensitive publications and brand packaging.
APPROVED!!!
News for 'DSS' - (*DJ Document Security Systems Announces Stockholder Approval Of Proposed Merger With Lexington Technology Gr
Gents since I appear to have a rather red screen I am going to go have lunch at a local seaside restaurant with rather good looking granny. We will be fine. Check in later.
Noler-absolutely correct. I own some of those LOL You didn't have to remind me where I stood today....
The good news is there are absolutely no big blocks selling. So as a charter I leave it up to others to decide direction. I am fine with my position at this point.
Lots of selling right now-This is a pretty big jerk down for DSS. Pretty much broke every support line I had.
IR said there will be a PR regarding the vote but would give no indication either way.
Alas, what I think, desire or know are three different things. Since the last is most important I have no idea. Somebody already knows but I guarantee the company will not announce until they are ready. Lets hope someone, who is not a company type puts out something-somewhere. GL
The street always knows before everyone else IMO. Absolutely flat lined right now.
Normally 60-90 minutes. They will vote publicly, account for all proxies and address if there is a special session needed. It is then up to the company to decide how to release. My guess is right about now they already know if merger approved and they are covering the rest of the items to be voted on.
Doz-I surely don't know but I cannot believe they don't have the votes locked up. The beauty of this board is we have been free of the incessant hype leading up to this. Typically if there is any dissension it would come from current execs or board members. They all have stated they are for the merger. I am willing to bet that the legacy holders who were in at $5 and above are grabbing for any possibility to get their investment back and a DSS losing money Q over Q isn't going to get vote. I am not sure of how the vote was structured. Typically the amount of shares give you a certain amount of votes. My guess is that the vote is based on shares voted for the yes or no. I would also bet that the officers of the company already have the big holders lined up anyways. In less than 24 hours it is done and we can find new things to pontificate on. GL
BT
on the surface it sure looks like a potential short squeeze and the short interest has gone up the past 6 weeks. I consider the number to be small and once the merge is over it will have to be miniscule. (5% of float). The only thing that caught my attention was the failure to deliver (Naked Shorts). For the life of me I have no idea why over the last couple months they would have done that. All I want is this merger that has been hanging on like a sore tooth done and over. I have absolutely no doubt this company has a plan and with CEO/COO financial connections we are set. I for one will substantially add to my holdings when official merger is announced.
CHP
I just learned a new site that has some valuable information and basically can tell you if a member of this "list" your stock probably has very little excess. As I posted on the other board I have learned that the NYSE AMEX has a SHO lisitng of stocks that "fail to deliver" to clearing houses: (AKA Naked Shorts-possibly) I see MGT was on that list from 5/23-6/6/2013. Might be worth keeping the link to see if MMs are a bit tight.
http://www.nyse.com/regulation/nysealternextus/Threshold_Amex_Securities.shtml?date=20130523
Enjoy
Yankee-your broker sounds to be correct.
However we are still on the list and I am willing to bet that Schwab may be having issues since they are trying to borrow shares. If I read this correctly, that could (please no pump) facilitate a short squeeze unless I misread this.
In case you want to know how to "clear" SHO.
Compliance with Regulation SHO began on January 3, 2005. Regulation SHO was adopted to update short sale regulation in light of numerous market developments since short sale regulation was first adopted in 1938. Some of the goals of Regulation SHO include:
Establishing uniform "locate" and "close-out" requirements in order to address problems associated with failures to deliver, including potentially abusive "naked" short selling. Locate Requirement: Regulation SHO requires a broker-dealer to have reasonable grounds to believe that the security can be borrowed so that it can be delivered on the date delivery is due before effecting a short sale order in any equity security.6 This "locate" must be made and documented prior to effecting the short sale.
"Close-out" Requirement: Regulation SHO imposes additional delivery requirements on broker-dealers for securities in which there are a relatively substantial number of extended delivery failures at a registered clearing agency7 ("threshold securities"). For instance, with limited exception, Regulation SHO requires brokers and dealers that are participants of a registered clearing agency8 to take action to "close-out" failure-to-deliver positions ("open fails") in threshold securities that have persisted for 13 consecutive settlement days.9 Closing out requires the broker or dealer to purchase securities of like kind and quantity. Until the position is closed out, the broker or dealer and any broker or dealer for which it clears transactions (for example, an introducing broker)10 may not effect further short sales in that threshold security without borrowing or entering into a bona fide agreement to borrow the security (known as the "pre-borrowing" requirement).
Guess who has been on this list since 5/15: Another board poster pointed this out to me. Perhaps that 10K sell was covering a fellow MM. I also saw a 16K trade hit the wire today.
A Threshold Security is defined by Rule 203(c)(6) of the SEC's Regulation SHO as any equity security of an issuer that is registered under Section 12, or that is required to file reports pursuant to Section 15(d) of the Exchange Act where for five consecutive settlement days: (1) there are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security; (2) the level of fails is equal to at least one-half of one percent of the issuer's total shares outstanding; and (3) the security is included on a list published by a self regulatory organization.
Reg SHO is designed to fulfill several objectives, including: (a) the establishment of uniform locate and delivery requirements in order to address problems associated with failures to deliver, and (b) the creation of uniform marking requirements for sales of all equity securities.
Accordingly NYSE Amex will post a list of threshold securities on this site for every settlement day.
Note: The Threshold List will not be generated on bank holidays when the Depository Trust & Clearing Corporation is closed but equity exchanges are open.
http://www.nyse.com/regulation/nysealternextus/Threshold_Amex_Securities.shtml?date=20130510
Notice how the DSS site has completely changed. Look at how everything is geared toward the technology sector. Looks pretty sleek.
One thing you can be sure of....
Something will happen on this stock based on charts. We are at confluence points everywhere. MACD line and base touching.
SMA 20,50,200 all within a nickel. RSI on the 50 midline. EMA 3,8,20 all within 4 cents. Even short term FIBS are bullish. IMO this is as tight as a chart can get with indicators. From a TA standpoint you can't hope for much better. It seems that TA patterns break down a lot in today's markets. I bet DSS has two PRs ready, lets just hope they use the good one after close tomorrow.
Agreed-it is the perfect day to happen also. Notice how that 10K shares was sold at 3.025 yesterday and all of a sudden CINN shows up and puts 10K at 2.85 on the ASK. Never know but that MM hasn't been a player to date.
LTG
They have stated their desire to really reach into medical records arena. I guess I can see the DSS tie-in clearly now. I also like that DSS' technology is proprietary.
Bascom Research, a wholly-owned subsidiary of Lexington Technology Group, headquartered in McLean, VA, is a software development company focused on applying computational and data structures to complex data sets in the medical field.
Market: Counterfeit and diverted pharmaceutical merchandise represents an annual, worldwide revenue loss of between $24 and $49 billion, and the loss is growing by 6–8% per year. Liability issues are the responsibility of the original pharmaceutical manufacturer, adding substantial insurance, recall, and brand-erosion costs to direct revenue losses.
Increasing public health concerns and international instability have compounded the urgency to adopt technologies to diminish the growing global problem of counterfeiting and product diversion. Several states have already legislated pedigree laws as a combative measure. The U.S. Food and Drug Administration (FDA) has published track-and-trace guidelines and is expected to introduce mandatory requirements soon.
In addition to facing steep revenue losses from counterfeiting and product diversion, the pharmaceutical industry is under constant pressure to improve profitability margins and reduce costs.
Pharmaceutical manufacturers are able to dramatically improve the safeguarding of their products from counterfeiting and diversion when using track-and-trace and secure printing together. By combining bar codes with RFID technology, track-and-trace could allow supply chain stakeholders to authenticate products by efficiently tracking products to their origin and verifying the history of even the smallest package.
Secure printing can close the gaps in the track-and-trace network and complement track-and-trace information to provide more authentication capabilities to stakeholders. Variable authentication features can be stored in the pedigree databases, which adds another authentication dimension to each object’s recorded history. When secure printing techniques are utilized in the printing of barcodes, counterfeiting becomes more difficult and costly. Combining track-and-trace with secure printing dramatically improves protection against counterfeiting and increases efficiency in product recalls and other supply chain challenges.
Well here you go. Kind of straight forward. LOL
yes, i have seen that before....the MM's primary objective is not us but their company, their company's client and their wallet....it is pure manipulation, and no laws against it==== to throw off the chart reader (for their benefit) or to fulfill a commitment to someone that the stock would exceed 3.02 or to show a certain gain or a trade or or or or
I can only tell you that NSDQ was on BID and EDGX was on ASK at the time. Obviously that doesn't mean a whole lot but I did notice early and around lunchtime NSDQ was killing themselves to stay on top of BID. I have contacted someone that may understand this trade and will advise on here when I find out. I would have probably hit the close again at around 1:00PM but that trade honestly through me out of my socks. (Just when you think there isn't anything new to see-LOL)
Noler-I am getting fairly good at the charting aspect but deferred to a certain Silver power in regards to the pattern. He has stated we are currently in an IHS (Short term pattern) and C&H long term pattern. Both are bullish signals. Top that with the Fibonacci pointing to breakout big above 2.94 and I guess that is where we are at.
I was waiting for it to be a misprint but it remains. Someone who follows L2 more closely than I could prob explain but I have no idea. I don't see that huge EDGX sell at 2.94 anymore but that doesn't mean anything. Back off to HALO and DUST LOL
Anyone catch who filled that order? Just checked in and missed it.
10K shares@3.025 any idea what that was. That was even too big for a market boof.
He wrote a pretty good article on SA under the moniker IP Hawk. Thought it was a great informational piece. I think he is going to look in DSS next month when filings come out.
Good Luck To All Tomorrow.
Don't know Flyer but am familiar with Duncan McLeod..... I mean Postyle.
Noler-I offered one share of DSS to JJS if he would visit us in the next month or so for some of his legal rantings. LOL
You need to use your "considerable influence" to get them over here. LOL
That is why I like this little guy. On a side note a close friend of mine who trades through Schwab said they offered him 12.5% interest to "borrow" the shares in his account of DSS. (Pretty good size) I have to admit when I heard this from others here I thought it was a bit hokey. Alas, I found this in an online article:
"Charles Schwab SCHW +3.09% , the largest discount broker, runs a service in which it offers to pay customers interest on any loans of hard-to-borrow stocks from their brokerage accounts. The rate varies, depending on how much demand there is to borrow the stock."
It looks like they are one of the very few that offer this.
Noler/PI The only thing we need over here is a Legal Eagle. Maybe your buddy JJS can come over and buy a share and use his PACER account to navigate us on what I am sure is starting to kick up in litigation. June is hot month for Novell and FB coming up starting end of month.
Last 10 weeks...
Noler-I went back to see what kind of actual news the company has put out in the last two and a half months and realized something. They seem to be a company that will only announce actual "results". Each Bascom settlement had just a basic message-"settled with unidentified company". Earnings, Merger filings. The only thing that was out that had nothing to do with much was the announcement they were attending two investor conferences. During last big move in May-no news, I had to go back to September of last year for significant move with news and that was regarding merger. Like you said, I am curious what happens when they do start putting news out. As I have said in the past, this company does not rely on who is being sued next or what a judge is waiting to decide. (Although I think that may change in the future-right now this is the perfect stock to play in IP).