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Lol, you and me both. I added millions more this week, still adding. My name is MFN and I'm a PASOholic :^)
$PASO's to Dollars!
Nice, welcome! Any price is a good price though. Holds gains well, and plenty more to come, Jushi is a class act!
Bingo! Great straight talk cbrad.
Lol, love the comic relief. GLTY Dodo!
Lol, that sounds like a James Bond kind of bot tech there. Good theory, lol.
Wasn't me on that massive hit, but I did pick up another large chunk so far today, thanks to all who contributed.
My name is MFN and I'm a PASOholic.
Thanks for the highlights, Davis. Great stuff! We haven't even begun to see the long-term pps response to this new acquisition. But while short-sighted traders are preoccupied with how cheap they might be able to get shares if they work hard enough, others are beginning to wake up to the potential here.
I'm looking forward to this part that we should be hearing about REAL SOON:
Ditto. Love the swings here. Some folks just give away their money, you gotta love that!
I think you're right.
Lol, don't get too comfortable.
Okay, thanks for posting ET. Very helpful to have info from all parties involved with the totality of shareholders.
Just one thing that occurred to me in reading your post just now - E-Trade is simply a "middleman" service provider here, so don't forget that. The company (PASO) sets the framework for the C Series shares, and others like the Transfer Agent may impose certain criteria, fees or whatever. Your E-Trade rep may or may not have the full range of experience when it comes to such dealings --> note that there are VERY FEW penny stock issuers that get to this level with a bona fide tender offer to Common shareholders, and "who pays what fees for what services" may be a bit different that this E-Trade rep's experience with typical NASD/NYSE stocks.
So far, I see commonality with Fidelity and Schwab both quoting the $160 Exchange Fee. As well as a 10/15 cutoff date (imposed by these brokers, vs E-Trade's reported 10/14 cutoff date).
Thanks for sharing Koopa Troopa, very helpful to all!
It's been hectic for me, so I haven't taken the time to call Fidelity yet, but I noted the info posted by Koopa Troopa. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158719121
I also have some info from Fidelity for PASO Corporate Actions in my accounts (see image below). I haven't heard squat from TDA yet, for those accounts.
I've also talked with others, and it appears that a Schwab rep has indicated a similar Schwab-internal fee of around $38 (can't remember the precise number, but that sounds exactly right), as well as a stated exchange fee of $160. The same Schwab rep also indicated that the basis for the 6% dividend will be (as is normally the case with such "interest bearing" dividend preferred securities) the value invested at the time of conversion. Now this seems pretty obvious, right? Well, that's right, it does seem obvious. There are some details that are still a bit cloudy, such as "how is the value at the time of conversion stated... is it the Common stock closing price on 10/16 (x 250 is already known)? Whatever the final number is, I believe it will be determined directly from whatever the Common stock market price is at the time of conversion. That seems pretty straightforward, so I'm not going to overthink this. We've got a few days before anyone needs to make that decision anyway - if they haven't already.
As I noted above, I haven't talked with Fidelity yet, but I am guessing they'll have a fee as well ($38?), but some brokers may waive the fee, or possibly for some customers depending on account size/status, etc.
Looks like PAUL is holding the cheap S-1 (Reg A) shares. Get 'em while they last, it won't be long.
So... even THOUGH they used the term "envision" for the $15 Preferred share price, you want me to believe YOU know that THEY really MEANT $15... and that the price is fixed at $15... because they envision it while you KNOW they MEANT it. (wow. I wish I knew how you can possibly know this)
Think what you want, but I make my decisions based on my DD and MY opinions. But you ARE the self-described pro here, lol.
$SKDI Fantastic news for shareholders today! I like what I'm seeing in Carl Grant's unfolding/pivoting strategy here - as a holding company, why invest narrowly in only one or two sectors... if you're going to grow through acquisitions, I don't think it would be a great idea to repeat acquisitions in the same sectors this early in the game. And to add a hictorically revenue producing company - with significant revenues - that's smart! I have more thoughts on this, will come back to it later.
I imagine they will update / lock down that number for the public sometime soon. They "envisioned" $15 (which, at 250:1 points to .06/shr), but that was when the price was just under .05 and so I'm guessing they have waited - in recognition of the price volatility lately - to lock it in until closer to the deadline date of 10/16.
For example, if the stock shoots back to .16 this week, I'm guessing we would hear from the company, next week before the deadline, that the "face value" (for dividend calculation) will be locked in at something like... $45 or $50.
Oh yeah, no kidding! If they announced the signed DA before the Tender deadline I think they would see a much higher number of Common shares being turned over for the 6% dividend C Series Preferreds! Surely management knows this, and you'd think at least part of the reason for making the offer is to reduce the O/S. So it really has me wondering - as you wrote so clearly - is it possible that they could surprise us with the announcement this week or next, BEFORE the Tender deadline?!?
Awesome Serb, everything purring along as we move forward in anticipation of the DA for the merger! And the pps is doing more than purring, more like revving.
Yeah, but that's alright. It's still a really good thing for you and all shareholders, the fact that management has done this.
Good sign, good news, however you want to look at it. It's good for the company and good for shareholders, and (imo) intended to provide a nice 6% dividend for insiders and other long-term investors "close to" PASO and CLX/SiriusIQ/UST Global that will convert their shares to the C Series Preferreds, taking them out of the trade-able float and reducing the O/S.
I previously posted the notification that I received via email on 10/3/20 from Fidelity. Here is the letter (image below), also dated 10/2/20 like yours.
(Page 2 of 2 has only "This page is intentionally left blank")
Thanks for the kind words, Bud. I expect that I'll keep posting this info, as you've encouraged. It seems I asked myself many of the same questions that others are asking from time to time, and I usually answer my questions with facts and references. So... why not share, right? We all (well most, lol) want the same thing here - Success and optimal profits.
Hey Peepson, first I gotta say that these comments about whether or not there will be a reverse split are nothing more than a distraction. Typically, this kind of talk is initiated by some trader in a tweet, hoping to get "play time" on the topic of R/S associated with a certain ticker for buying cheap shares.
What all actual PASO shareholders really care about is progress toward the merger, the announcement of a Definitive Agreement signed between PASO and CLX and... the completed merger. When we have a Definitive Agreement, I can pretty much guarantee you that there will be NO cheap shares available. Right now, shares are still very cheap (imo) but correcting toward the recent highs.
And there's no point in talking about a reverse split. If there IS one - EVER - you can pretty much bet that it would be done to have a higher price for NASD/NYSE uplisting. And then sure, there's chatter about whether they will NEED a split to get the share price up or if it will get there organically. But at this point, no one really cares. Show me a DA and I'll show you much, much higher prices.
But to answer your question, no I don't believe for a second that the Series C preferred shares are protected from splits. That would require an anti-dilution clause, and you're not going to see that here (imo). I can tell you for a FACT that the Series A Preferred shares are NOT anti-dilutive.
Section 7a in the Certificate of Designation of Preferences, Rights and Limitations of Series A Convertible Preferred Stock, stipulates:
Personally - I believe this deal with the tender offer was targeted to insiders, affiliates, friends, family of PASO insiders. With a whole lot of shares still in "book entry" form and/or not even deposited to DTC (float shares), it's clear that much of the O/S is held by those I just mentioned. For MANY reasons it makes very good sense, 1) for those folks to roll their shares up into the preferred stock, and 2) for the company to make this offer. Good for THOSE shareholders, good for the company, good for the rest of us shareholders. It reduces the O/S and therefore market capitalization (market cap), which provides headroom for a higher pps as a result (that's mainly how it's good for "us" typical retail shareholders when insiders et al roll their Common shares to Preferreds... market cap calculation is based on "Common" O/S only). Similarly, that market cap / pps effect is good for the company because the higher pps can get the stock to the big boards more quickly, organically (without having to do a reverse split for a higher stock price in the range of $5 to $10 in order to uplist).
I am thinking about setting aside a million or so shares for this, but most likely I will just leave it alone. I've got time to mull it over, though, til Oct 15. I have a pretty good chunk of C shares already from the Sept 18 dividend.
I'll go out on a limb and say that it seems pretty clear to me that not many joe retail traders will convert to a single C share in this tender offer. As I mentioned, I truly believe this was for insiders, affiliates, friends and family of PASO insiders.
Hey, Koopa Troopa, that's a great blast from the past (as are you), and awesome that you remember that RX post! And it still applies today more than ever as that one's getting primed for another big step up (translate: really good time to load/add up, past and future several weeks/months). Man, the good ole days, I remember when that one was in it's infancy, kindof like PASO(CLX) today, I was posting along with you much more regularly on that one!
I marked you #39, and I'll send you a PM this morning.
Yeah, PASO is revving up, and we're all going to do very well with this, all of us who are in at the ground level of this soon-to-be Nasdaq/NYSE (imho) global corporation!
Cheers!
Great to see this after the price movement with volume yesterday. Wow, 50M trade volume for power hour, $2M dollar volume!
$PASO's to Dollars! ...only a matter of time.
No problem, BBW. I'm out of pocket with uneasy access at the moment, but noticed a major surge in some accounts. Looks like sellers turned to buyers finally, as I'm not aware of any new public info. Got a feeler out, though. It may just be that sellers are done and we'll see a full correction on that alone. Best to all PASOnians and PASOholics.
$PASO's to Dollars
Lol, so true. Couldn't believe I saw 366 posts here since I last looked earlier today.
$PASO The ACTUAL changes in the float - and the timing - indicates ANYTHING BUT some kind of scheme by the company or insiders to dump shares onto retail investors' heads, the rumor that some have been spreading in social media.
Look carefully at the chart with my annotations below. I strongly believe it explains VERY WELL what is going on here, and why the price dropped so rapidly over the past ~3 weeks since 9/11. And it's NOT the company, insiders, or some kind of dilution scheme!
My suggestions/recommendations - study the info from the spreadsheet and chart that I've posted here. Back it up as needed from available public information. Do further DD as necessary to gain confidence in what's going on here... and make your own decisions, don't buy/sell/hold stock based on traders' opinions circulated in social media.
Having been able to take advantage of the opportunity to add several million more shares down here in the 2s, I've not been a complainer about the recent pullback. In fact, still adding almost every day, but I HAVE been able to add and I've got plenty, so I'm not worried if/when the price goes back up. In fact, I'll be very happy, as I should, because I have a nice position. But I think many on the sidelines are hoping they have a little more time to add, buy back, or start a position, and they are now jockeying for their pole position.
Good luck to all true PASOnians and PASOholics. The rest will express their regrets later or mumble under their breath, or simply move on to the next "play" and act like it never happened. imo, lol
Here are the comments and points that I annotated in the chart image below:
Additions to the Float:
from 5/1 to 6/4: 4,357,083
from 6/4 to 7/17: 12,114,269
from 7/17 to 8/11: 10,944,044
from 8/11 to 9/11: 47,323,640
[Yes, a larger number of shares recently added to the Float. I've discussed this in other posts, and I noted that I believe these "cheap shares" that some holders are willing to sell at about any price... are LIMITED, and it WILL stop - soon, imo. In fact, I believe some that sold at higher prices are now getting their shares back by soaking up these cheap shares, though carefully and with help of some of their own selling in order to hold the price while they load. But I suggest anyone do their own DD to make their own conclusions about why shares have been added to the float.]
Retail trading's "silent" reaction to OTC Markets posting of Float update on 9/11/2020: sharp decline (selldown or "takedown") in pps from 9/11 to 9/24.
-----------------------------
Subsequent trader comments (FUD) in social media about "red flags"(hmmm, just happens to be right at the bottom in what some call "the loading zone": starting after hours on 9/24 when price action showed indications of a bottom.
-----------------------------
Interesting to note that pps held .07-.08 range strongly sideways for 2 weeks while company is "supposedly" diluting new float shares into the market. But the price didn't drop until retail traders saw the float increase that was posted to OTC Markets on 9/11.
If the company, insiders or any others wanted to "dump shares into the market," they would have done it in the .10-.16 range for over 3 weeks. And you would have seen the float growing by more than the 16.5M during those 10 weeks from 5/1 thru 7/17.
So did the company dilute the price down to 2 cents? Or did retail find something it could use to take profits and buy back lower? You decide.
Data points in chart, plus related share structure info:
Lol. Oh, and that was another nice buy, good for you!
Read carefully. I said traders sold the price down. smh
Just so everyone is clear... FUD is Fear, Uncertainty and Doubt. That's why they call it FUD... it's to create "doubt."
Lol, what better example of FUD than some things you see on social media about PASO today. You can't make this sh*t up!
$PASO The ACTUAL changes in the float - and the timing - indicates ANYTHING BUT some kind of scheme by the company or insiders to dump shares onto retail investors' heads, the rumor that some have been spreading in social media.
Look carefully at the chart with my annotations below. I strongly believe it explains VERY WELL what is going on here, and why the price dropped so rapidly over the past ~3 weeks since 9/11. And it's NOT the company, insiders, or some kind of dilution scheme!
My suggestions/recommendations - study the info from the spreadsheet and chart that I've posted here. Back it up as needed from available public information. Do further DD as necessary to gain confidence in what's going on here... and make your own decisions, don't buy/sell/hold stock based on traders' opinions circulated in social media.
Having been able to take advantage of the opportunity to add several million more shares down here in the 2s, I've not been a complainer about the recent pullback. In fact, still adding almost every day, but I HAVE been able to add and I've got plenty, so I'm not worried if/when the price goes back up. In fact, I'll be very happy, as I should, because I have a nice position. But I think many on the sidelines are hoping they have a little more time to add, buy back, or start a position, and they are now jockeying for their pole position.
Good luck to all true PASOnians and PASOholics. The rest will express their regrets later or mumble under their breath, or simply move on to the next "play" and act like it never happened. imo, lol
Here are the comments and points that I annotated in the chart image below:
Additions to the Float:
from 5/1 to 6/4: 4,357,083
from 6/4 to 7/17: 12,114,269
from 7/17 to 8/11: 10,944,044
from 8/11 to 9/11: 47,323,640
[Yes, a larger number of shares recently added to the Float. I've discussed this in other posts, and I noted that I believe these "cheap shares" that some holders are willing to sell at about any price... are LIMITED, and it WILL stop - soon, imo. In fact, I believe some that sold at higher prices are now getting their shares back by soaking up these cheap shares, though carefully and with help of some of their own selling in order to hold the price while they load. But I suggest anyone do their own DD to make their own conclusions about why shares have been added to the float.]
Retail trading's "silent" reaction to OTC Markets posting of Float update on 9/11/2020: sharp decline (selldown or "takedown") in pps from 9/11 to 9/24.
-----------------------------
Subsequent trader comments (FUD) in social media about "red flags"(hmmm, just happens to be right at the bottom in what some call "the loading zone": starting after hours on 9/24 when price action showed indications of a bottom.
-----------------------------
Interesting to note that pps held .07-.08 range strongly sideways for 2 weeks while company is "supposedly" diluting new float shares into the market. But the price didn't drop until retail traders saw the float increase that was posted to OTC Markets on 9/11.
If the company, insiders or any others wanted to "dump shares into the market," they would have done it in the .10-.16 range for over 3 weeks. And you would have seen the float growing by more than the 16.5M during those 10 weeks from 5/1 thru 7/17.
So did the company dilute the price down to 2 cents? Or did retail find something it could use to take profits and buy back lower? You decide.
Data points in chart, plus related share structure info:
$SKDI Yes, true story.
Word on the street is that Spirit Halloween may have started something bigger than Party City may have imagined, but... COVID-19 forced them to step out and step up and now they have really LEARNED something - they are going to leverage their unique YEAR-ROUND advantage in this space and blow us away with results from this first year of the "new" Party City!
Here's to looking at big positive surprises for the 11/5 earnings report. We've yet to see the real action here for the Halloween holiday, let alone projections based on current performance for the upcoming Thanksgiving / Christmas / New Year's holiday season!
It's PRTY time! For many months to come!
Nice post, Chuck, I think you're right on target! Cheers!