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"that deadline has been extended.....again."
Where are you folks reading this? Has there been a motion filed today, and if so, can someone provide a link to where these are located, online. Thanks in advance.
Lockup Period for Underwriters is expiring 2nd week in September.
I believe things will get interesting next week. The IPO date was 06/11/2015. However, I believe the clock started ticking on the date of the Prospectus, which was 06/10/2015:
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"the 10,000,000 common shares purchased by entities affiliated with Visium Asset Management, LP and RA Capital Management, LLC will be eligible for sale in the public market upon the expiration of lock-up agreements 90 days after the date of this prospectus."
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Therefore, I calculate that things should get quite interesting on Tuesday, September 8th. LOL
Geez, thanks for the detailed and considerate reply.
What is all this talk about "Shorts"??
Who the heck can short OTC pink sheet stocks?
Folks, the wind down motion is VERY REAL.
The motion is document #0086, and can be found on the legal firm's website representing GTAT in the bankruptcy hearings:
KCC/GTAT Case Number: 14-11916
HOWEVER...things are not NECESSARILY as dire as everyone seems. This request on the part of GTAT, in and of itself, does not NECESSARILY mean "game over". This is exactly the type of motion that GTAT would need to file in order to receive any relief from the current contractual terms of the MDSA with APPL. In other words, this may be a formality. It is still entirely possible that Apple and GTAT will come to some agreement which would ameliorate this situation. I say "possible", in the strict sense of the word. I am NOT arguing or implying it is probable or likely...simply that this request (motion) by GTAT is actually a necessary condition for their Chapter 11 case.
Put another way, this "request" is something GTAT would have had to file as matter of course...since it is their sapphire operations that are the cause of all the outstanding debt...especially if APPL is withholding final payment. In any event, this is a necessary strategy by GTAT to perhaps force APPL's hands. It is quite possible that a "behind closed doors" agreement / resolution might be reached by APPL and GTAT before the Oct. 15th court date. Make no mistake, I am NOT arguing that this is probable or likely...simply that it is within the realm of possibility. Given APPL's public image, and their stated desire to increase American manufacturing, and employ American workers, COMBINED with the fact that the Mesa, AZ facility is the epicenter for these plans...well, every investor should factor that into the "possibility" that a deal might be struck between APPL and GTAT, which keeps GTAT solvent and allows their sapphire operations and supply to APPL to continue.
As I mentioned above, their may be other forces involved here which provide strong incentive for APPL to reach accommodation with GTAT, and essentially rescue this situation.
A) APPL is on record as to their intent to increase American production, and being a better corporate "citizen" by contributing to new jobs.
B) APPL's Mesa, AZ facility is the epicenter of this mission.
C) APPL has generated a lot of goodwill in AZ over the past year, as well as forging alliances with State of Arizona officials and politicians. This relationship helped get them their coveted Foreign Trade Zone status for Mesa plant and operations.
Therefore, assuming GTAT has worked out production kinks, and can supply the quantity and quality of sapphire to APPL...and assuming APPL still has big plans for sapphire in upcoming products, then it makes sense for them to want to reach some sort of deal with GTAT which is consistent with "A", "B", and "C". I am NOT saying that this will happen. I am saying the possibility exists. Nothing has been decided yet. The next big milestone is the October 15th bankruptcy meeting in Springfield, MA. A lot can happen between now and then.
What a strange turn of events. So, now I am being indicted for taking SM at his word. While I certainly do research and DD on companies I invest in, I don't generally look up a board members post history or commencement/sign-up date.
SM, not a newbie. Got it.
Understood, Smart Money. I didn't intend to come across as smarmy. In any event, I would highly recommend you save the SEC EDGAR site in your browser favorites. I use it all the time. It is an incredible resource. For example, I just saw your newest post regarding the insider trading. If you got to SEC EDGAR and plug in GTAT in the "Fast Search" (ticker name) field, it will give you access to all the required filings.
One such required filing is whenever a corporate officer buys or sells shares. When you first input the Company's symbol, you will get the default screen which excludes ownership filings. Simply click on the radio button that says "include" or "only" next to Ownership...and then you will see a list of the insider transactions, which are Form 4's. You can open any of these to get the full details.
Sometimes this provides further insight into what exactly occurred with the "insider trade". For example, the sale by Tom Gutierrez on 09/06 (effective 09/08) of 15,902 shares has no questionable or "sinister" implications...and had nothing to do with insider knowledge of Apple's 09/09 announcement. These shares were sold as part of an automatic, pre-arranged diversification plan (which is not uncommon). TG had no control over the timing of this particular transaction. It is easy to miss, but there is a footnote (2) which applies to this trade, on the Form 4, which states:
Hi Dizzle, GTAT doesn't manufacture or supply solar panels. They manufacture the PV/Polysilicon Furnaces that produce monocrystalline silicon ingots (used in roof mount PV panels) and multi-(or Poly-)crystalline silicon ingots (used in ground based solar farms). These furnaces are sold to PV panel makers. The GTAT furnaces produce the silicon ingots, which are cut into wafers to be incorporated into PV panels, by the solar panel fabricators.
They also manufacture their next-gen HiCz Monocrystalline furnace to allow the production of higher efficiency N-type silicon wafers for high solar energy conversion efficiency PV cells.
GTAT also is involved in selling their Merlin metallization and interconnect technology, which dramatically reduces the materials and cost necessary to fabricate multi-panel solar arrays. Merlin has the potential to become a breakthrough hit within the PV industry...as it can be adapted/retrofited to existing PV cell/module fabs. The Merlin interconnect system also dramatically reduces installation time and costs. A win-win-win for the PV module manufacturer, the PV panel installer, and the end-consumer.
And the 8K filing, if applicable, must occur within 4-days.
SEC 8-K filing rules
OOTC = Other-OTC = GREY MARKET. Period, end of story.
Fidelity (and most brokers) probably have the discretionary right to change their BUY policies on any OTC-Other (grey market) stock.
Doc K, I was just about to post a reply to christjamin that is almost beat for beat the same as yours...but you beat me to the punch.
hokus pokus, I know. That is why my post was designed to suggest an intrinsic amount of questionable business ethics was already present. When I suggested that the CFO was unwilling to go "full sleazeball"...I thought I not-so-subtlety implied that the CFO was already part/semi/half - sleazeball.
Here is the link for GTAT's Merlin presentation at today's InterSolar NA 2014 conference. Very interesting, and possibly a game changing innovation for the PV / Solar industry.
Merlin Presentation
No, ihorchu...it depends on what brokerage service you are using. Some have restrictions on transactions for "OTC-Other" class stocks (such as only being able to Sell). It depends on the Broker's policy. There are major brokers that do not have Buy/Sell restriction, other than it has to be a Limit order.
I, for one, applaud GrowLife's efforts to prove that one can, in fact, dilute pure water.
No argument here, wagonwheel. Indeed, if GrowLife had some compelling IP and in particular, patent(s)...there could have been a foundation upon which to grow. At the very least, it might have been the basis for making GrowLife an attractive acquisition opportunity for some serious, established company. Alas, that is not the case, here.
Here is a nice preview of the iPhone 6 sapphire crystal screen, which appears to be authentic. There are a few other vids which were uploaded to YouTube yesterday, but this is the first that I have seen in which there is actual commentary and demonstration of the product, by the videographer. I have no friggin' idea how this YouTuber obtained the part...however, looking at his prior history, he appears legit.
iPhone 6 sapphire crystal display
Hi Stockbender, see my post #93136.
Due to the non-existence of Market Makers, and the inherent illiquidity of the Greys, getting your order filled (Buy or Sell) when you want it filled is an extremely frustrating and unpredictable affair.
Since there are no Market Makers, there are no Bid or Ask quotes available, no sharing of data or quotes on Grey market stocks. There is no quoting system available to record and settle trades
When there are no MMs, there is no mechanism that forces a Buy or Sell order through. Essentially, you have a chaotic free-for-all of various brokers trying to match up buyers with sellers.
Even the block (number) of shares you want filled can create issues. As dealers are trying to match up a specific Buyer with a specific Seller, this means that the number of shares have to match. Buyers or Sellers trying to fill odd blocks of shares typically get left dangling in the wind. For example, a 9,891 share SELL transaction has much less chance of matching up to a Buyer, than an even 10,000.
Three very cool GTAT technology related videos. I suspect some of you have already seen these, but for those who haven't, I thought I would provide these YouTube links. GTAT is involved in some incredible technology, and this company is going places. IMHO, they are positioning themselves nicely into new markets, and even if one puts aside their relationship/partnership with Apple...they have a very bright future.
GTAT's product and technology portfolio is evident in the below linked Q1 2014 Earnings Presentation:
GTAT Q1 2014 Earnings Presentation
And here are the three videos I mentioned, which are specific to GTAT's sapphire glass production and technology:
Hyperion(TM) 4 Ion Implanter Technology
Sapphire Screen: The Making of A Scratch-Proof Smartphone Display
Sapphire Promises Better Smartphone Protection than Gorilla Glass
Finally, here is the latest video purporting to show the new iPhone 6 sapphire glass. There are a few other vids which were uploaded to YouTube yesterday, but this is the first that I have seen in which there is actual commentary and demonstration by the videographer. Very cool stuff!
iPhone 6 Sapphire Crystal Display!
Interesting reply. Care to elaborate on what part of my post you evidently disagree with?? Oh, by the way, welcome to the boards.
Hi asianmermaid. I agree. See my post #1586.
:)
I accumulated at $17.00. I should have held off pulling the trigger for another few minutes. Oh well. GTAT will be back above $20 in no time at all, IMHO.
Okay, now I am convinced (longer YouTube vid):
Full vid of iPhone 6 front panel
Thanks kittzelle. I just signed up to "Stocktwits".
Also, I remember reading the "flexibility of a playing card" on GTAT's website...but I still remain a bit skeptical. It's all good, as I will be quite happy if my skepticism turns out to be unfounded.