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Credit Suisse Downgrades Offshore Service Vessel Names
http://finance.yahoo.com/news/credit-suisse-downgrades-offshore-vessel-221906825.html
Credit Suisse Downgrades Offshore Service Vessel Names
http://finance.yahoo.com/news/credit-suisse-downgrades-offshore-vessel-221906825.html
Letter to Shareholders from the Chairman
HAMILTON, Bermuda, July 7, 2014 (GLOBE NEWSWIRE) --
Introduction: It is now almost six months ago since I sent you a letter, in early January this year. Since then our companies have been through a very busy period which I would like to talk about. This particular letter is sent to shareholders of Nordic American Tankers Ltd (NAT), Nordic American Offshore Ltd. (NAO) and the investor market. NAT and NAO are listed on the New York Stock Exchange – NAT for many years and NAO started trading June 12, 2014 on the NYSE. Following an offering in NAO, NAT owns about 20% in NAO which is specializing in Platform Supply Vessels (PSVs) serving the oil exploration business. I am Chairman and CEO in NAT as before and have assumed the position of Executive Chairman of Nordic American Offshore.
Nordic American Tankers Limited (NAT): The first quarter of 2014 produced very strong results for our suezmax tankers compared with the last quarter of 2013. During 4Q2013 the operating cash flow was $1.9 million. The comparable figure for 1Q2014 was about $27 million, about 14 times up. We know that the tanker market is volatile, the first quarter of 2014 is an indication how it can evolve. 2Q2014 will not produce results at the level with 1Q2014 as the market has fallen back. At the time of this message there is an undercurrent in the market which may lead to increased rates again. Time will tell.
I will point at two things that we see for the first six months of the year. Firstly, NAT is in excellent position to reap immediate financial benefits when the market turns around. Secondly, we have again proven that our fleet is in top technical condition. Furthermore, I am pleased that we, so far this year, have been able to expand our suezmax fleet from 20 to 22 vessels. We shall take delivery of the two new vessels in July and August 2014, respectively.
We are now entering a period in the tanker business during which we can expect that the supply of ships will shrink; i.e. an improved balance between supply and demand may be established. It is many years ago since we had such a position. The recent volatility in the spot market is also indicating a tighter balance between supply and demand.
In April 2014, NAT closed a following offering that brought in approximately $113 million. The proceeds will be used to finance the current acquisitions, bringing the fleet to 22 vessels, and for further expansion of our fleet.
We will very soon announce the NAT dividend to be paid at the end of August. Furthermore, we shall arrange for the extra dividend (dividend-in-kind) to be distributed to NAT shareholders in the form of shares in NAO. The current plan is that shareholders owing 499 shares or less in NAT will be compensated with cash.
Nordic American Offshore Ltd. (NAO):The establishment of Nordic American Offshore and its listing on the Oslo OTC (over the counter) market at the end of last year was a milestone with a fleet of six PSVs. NAO has been further developed during the first six months of this year and four newbuilding contracts have been entered into. The four newbuildings are planned for delivery during the three first quarters of 2015, at which time NAO shall be having 10 vessels in operation. These Platform Supply Vessels (PSVs) are serving the offshore installations in the North Sea. They are all built at the West Coast of Norway at some of the best shipbuilders in the world. As previously announced, NAO was listed and started trading on the New York Stock Exchange June 12, 2014 following an IPO that brought in about $100 million to finance the expansion of the fleet.
The strategy of Nordic American Offshore is based on the same business model as we have in Nordic American Tankers. The involvement of NAT in NAO is expected to boost the dividend for NAT. There are clear synergies between the two companies, in particular as regards general and administrative costs. In a way the two companies are supporting each other. I am very pleased that Tor Øyvind Bjørkli (M.Sc.) has been recruited as CEO of NAO. His broad experience from the offshore business will no doubt be an asset to the development of Nordic American Offshore.
Summary: We are there to serve you in the best possible way. This goes for our friends in Nordic American Tankers and in Nordic American Offshore.
My best wishes for the summer!
Herbjørn Hansson
Nordic American Tankers Ltd Stock Upgraded (NAT)
By Kevin Baker06/20/14 - 11:14 AM EDT
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
NEW YORK (TheStreet) -- Nordic American Tankers (NYSE:NAT) has been upgraded by TheStreet Ratings from sell to hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.
Highlights from the ratings report include:
NAT's very impressive revenue growth greatly exceeded the industry average of 3.1%. Since the same quarter one year prior, revenues leaped by 160.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
NAT's debt-to-equity ratio is very low at 0.29 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 4.25, which clearly demonstrates the ability to cover short-term cash needs.
Compared to where it was 12 months ago, the stock is up, but it has so far lagged the appreciation in the S&P 500. Despite the fact that it has already risen in the past year, there is currently no conclusive evidence that warrants the purchase or sale of this stock.
NORDIC AMERICAN TANKERS LTD reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, NORDIC AMERICAN TANKERS LTD reported poor results of -$1.67 versus -$1.38 in the prior year. This year, the market expects an improvement in earnings (-$0.09 versus -$1.67).
The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Oil, Gas & Consumable Fuels industry and the overall market, NORDIC AMERICAN TANKERS LTD's return on equity significantly trails that of both the industry average and the S&P 500.
Nordic American Tankers Limited, a tanker company, is engaged in acquiring and chartering double-hull tankers. As of May 31, 2014, it had a fleet of 22 Suezmax vessels. The company was founded in 1995 and is headquartered in Hamilton, Bermuda. Nordic American Tankers has a market cap of $805.3 million and is part of the services sector and transportation industry. Shares are down 7.3% year to date as of the close of trading on Friday.
3 Stocks Under $10 in Breakout Territory (TheStreet.com)
Nordic American Tankers (NAT_), a tanker company, is engaged in acquiring and chartering double-hull tankers. This stock closed up 2.3% to $8.75 a share in Thursday's trading session.
Thursday's Range: $8.54-$8.78
52-Week Range: $7.00-$12.61
Thursday's Volume: 1.52 million
Three-Month Average Volume: 1.38 million
From a technical perspective, NAT spiked notably higher here right above its 50-day moving average of $8.46 and back above its 200-day moving average of $8.70 with above-average volume. This spike higher on Thursday is starting to push shares of NAT within range of triggering a near-term breakout trade. That trade will hit if NAT manages to take out Thursday's intraday high of $8.78 and then once it clears more key overhead resistance at $8.99 with high volume.
Traders should now look for long-biased trades in NAT as long as it's trending above its 200-day at $8.70 or above more near-term support at $8.25 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.38 million shares. If that breakout triggers soon, then NAT will set up to re-fill some of its previous gap-down-day zone from April that started at $9.50. Any high-volume move above $9.50 will then give NAT a chance to tag $10 to $10.20, or even $10.50.
Nordic American Offshore Ltd. Announces Pricing of Its Initial Public Offering of Its Common Shares
Nordic American Offshore Ltd. (the "Company" or "NAO") announced today that it has priced its initial public offering of5,882,352 common shares at $16.00 per share. The Company has granted the underwriters a 30-day option to purchase up to 882,352 additional common shares to cover over-allotments.
The Company's common shares are expected to commence trading on June 12, 2014 on the New York Stock Exchange under the symbol "NAO."
The net proceeds from this offering will be approximately $86,970,574. If the option granted to the underwriters to purchase additional common shares to cover over-allotments is exercised in full this would increase the net proceeds by approximately $13,270,574. The Company intends to use the net proceeds to purchase two newbuilding platform supply vessels ("PSVs") and for other acquisitions and general corporate purposes, including working capital. The Company may use the balance of the net proceeds for the construction, in a Norwegian yard, of up to three additional PSVs that are similar to the Company's PSVs, under a letter of intent into which the Company has entered. If the options to construct the three PSVs are exercised, the Company will have a fleet of 11 vessels.
The offering is expected to close on June 17, 2014, subject to customary conditions.
Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and DNB Markets, Inc. are acting as joint book-running managers and Global Hunter Securities, LLC is acting as a co-manager for the initial public offering.
The initial public offering is being made by means of a prospectus. A preliminary prospectus related to the offering has been filed with the Securities and Exchange Commission (the "SEC"). Copies of the preliminary prospectus may be obtained from: Morgan Stanley & Co. LLC at 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department, Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, tel: 1-800-221-1037, Email: newyork.prospectus@credit-suisse.com, J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204, or DNB Markets, Inc. at 200 Park Avenue, 31st Floor, New York, New York 10166 or by telephone at (212) 681-3800.
A registration statement relating to these securities has been filed with and declared effective by the SEC. The registration statement is available on the SEC's website at www.sec.gov.
Nordic American Tankers: On A Recovery And Growth Path
NAT/NAO starting to receive some good coverage
Another article:
http://seekingalpha.com/article/2261423-nordic-american-tankers-on-a-recovery-and-growth-path
3 Bullish Arguments for Nordic American Tankers
By James Catlin | More Articles
June 11, 2014 | Comments (0)
Nordic American Tankers (NYSE: NAT ) has seen some choppy waters over the last few years through no fault of its own. Numerous factors have conspired against the shipping industry during that time, chief among them being an oversupply of vessels introduced into the market amid a global recession.
This caused The Baltic Dry Index (BDI), a composite of the Baltic Capesize, Panamax, Handysize, and Supramax indices, to suffer some wild swings that have left many reaching for the Dramamine.
While long-term charter shippers had some insulation against these moves, spot-rate shippers like DryShips (NASDAQ: DRYS ) and Nordic American Tankers were left exposed to these fluctuations. However, it now seems that some of the factors that led to these massive moves may now be subsiding. Below are three reasons to be hopeful about Nordic American Tankers' position in the market.
Capacity is decreasing
All 20 of Nordic American Tankers' vessels are Suezmax, which allows for specialization, resulting in greater economic efficiency. Currently there are 449 Suezmax vessels in service with a total of 30 completions expected between now and late 2016. This represents approximately 7% of the total fleet. This is significantly less than 2009 when orders totaled 50% of the total fleet.
While production has stabilized at more reasonable levels, retirements are also playing a key role in reducing capacity. Over the last three years, a total of 35 Suezmax tankers have been retired.
With 2013 being the worst year for Suezmax rates in the 21st century, there is speculation that further shipyard projects may be delayed or cancelled. Fast forward a few years and this condition could benefit those with high-quality and relatively newer fleets already in service, like Nordic American Tankers.
The Baltic Dry Index is near five-year lows
The best thing about spot-rate carriers is the transparency of pricing. Those that watch the BDI can often time investments in the industry by patiently waiting for low and unsustainable rates in the shipping market.
Nordic American Tankers, as mentioned earlier, is a specialist. This makes for some of the lowest costs in the industry, running at approximately $12,000/day to operate. As the BDI collapsed during the fourth quarter of 2013, Nordic American Tankers saw tanker rates received decline to $14,100/day on average. Other carriers that don't benefit from specialization and financial discipline like Nordic saw losses manifest on their balance sheets.
Eventually, if rates don't recover, those incurring losses will suspend operations; this will decrease the supply of vessels and raise charter prices. One way or another, these current BDI levels are unsustainable. Historically, Nordic American Tankers has made use of these low rate periods by dry docking ships for maintenance, leading to another form of supply reduction.
A former shipping titan, Frontline (NYSE: FRO ) , could be a casualty of these depressed rates. The company warned that restructuring could be an option following another loss (this time a $12.1 million whopper in the first quarter of 2014) if additional equity cannot be raised. This means that Frontline's management could turn to shareholder dilution, new loans, asset sales, or a combination of all three to meet the looming $190 million convertible bond loan coming to maturity in April 2015. With Frontline recently guiding down for the second quarter (leading to a 17% decline on that day alone), it looks like restructuring might be the only option as investors and creditors back away.
Timing swings in the BDI can produce some significant returns. In May 2013 I published an article noting that the BDI was at five-year lows; I believed then that current pricing at that level was unsustainable. By December, the BDI had rebounded, posting an almost 200% increase. For daily spot-rate carriers like DryShips, this translated into a 150% share price increase over that same time period.
Valuation
While it's hard to make a case that fundamentals look good, it can be said that Nordic American Tankers looks less bad compared to other shippers.
Metirc Nordic American Tanker Industry Average
Price/Book 0.86 1.57
Yield 11.20% N/A
LT Debt/Equity 0.29 1.28
5 Year Average Sales Growth Rate 0.55% -8.87%
With analysts seeing a light at the end of the tunnel for Nordic American Tankers in 2015, this could be one of the few companies to make it through without too much long-term damage to its financials. The company's young fleet and strong position should allow it to capitalize when the shipping rates return to more sustainable levels.
The payoff
It's not easy to pull the trigger when so many factors appear to be plaguing an industry. Long-term investors who do their homework can take solace when buying good companies during hard times, however. While pricing is currently depressed, it won't remain that way for long. Capacity is leveling off, but demand for tankers continues to increase as emerging markets further develop. Nordic American Tankers looks to have the balance sheet to make it through these hard times. Taking advantage of these swings can make for some good deals as everyone else is running for the exits.
http://www.fool.com/investing/general/2014/06/11/3-bullish-arguments-for-nordic-american-tankers.aspx
NAO IPO date showing as June 12th on event calendar.
Holders of NAT on June 17th to received NAO shares as a dividend.
RE: MarketMakerII
I'm liking it, that's why I'm in this stock.
Already received the NAT dividend the end of May (10%+ yearly rate) and looking forward to the NAO spin-off and stock dividend to NAT holders, plus the dividend on the spin-off shares.
Will be interesting to see how the NAT Shares react to all this.
Have a great day!
StockWatcherY2K
NAO IPO Info Link:
http://seekingalpha.com/article/2254273-u-s-ipo-pipeline-update-markit-and-8-more-join-the-june-ipo-calendar
Appears to be pricing/trade opening next week.
Nordic American Offshore Ltd. (NAO:OTC) Announces Proposed Offering in the PSV Sector to be Launched Monday June 2 before NYSE Opening
http://finance.yahoo.com/news/nordic-american-offshore-ltd-nao-093000953.html
Caveat Emptor Beckons:
http://seekingalpha.com/article/1318731-caveat-emptor-beckons
Merry Christmas and a Happy SAFE New Year Tom.
Hope all is well with you and yours.
StockWatcherY2K
AT&T Announces Support of Global Wi-Fi Interoperability
InitiativeLast update: 12/21/2012 9:30:00 AMAT&T Joins Other Operators in the Wireless Broadband Alliance's Global Effort to Establish Common Set of Standards for Wi-Fi Roaming DALLAS, Dec. 21, 2012 /PRNewswire via COMTEX/ -- AT&T* announced today its support of the new Interoperability Compliance Program (ICP) introduced this week by the Wireless Broadband Alliance (WBA), the industry association focused on driving the next generation Wi-Fi experience. The ICP is designed to streamline the way WBA members work together by creating a common set of technical and commercial frameworks for Wi-Fi roaming. AT&T, a WBA member, is one of the first operators to confirm their support of this new initiative. "AT&T is proud to support the WBA in their effort to reduce the friction around Wi-Fi interoperability and continue to drive compatibility across the ecosystem," said JR Wilson, chairman of the WBA and vice president of Partnerships & Alliances, AT&T Mobility. "This initiative will ultimately help establish clear guidelines for operators create a roadmap of the evolution of hotspots and eventually develop a directory of various carriers' Wi-Fi capabilities, which will enable carriers to deliver a better mobile data experience to customers when they travel abroad."
Merry Christmas and a Happy SAFE New Year to all.
StockWatcherY2K
Here comes the revenue...
Express Scripts Joins Qsymia(TM) (Phentermine And Topiramate Extended-Release) Certified Home Delivery Pharmacy Network
Last update: 10/8/2012 7:00:00 AM
MOUNTAIN VIEW, Calif., Oct. 8, 2012 /PRNewswire via COMTEX/ -- VIVUS, Inc. (VVUS) today announced that Express Scripts, the country's largest Pharmacy Benefit Manager (PBM), has joined the Qsymia Certified Home Delivery Pharmacy Network.
Qsymia is available only through mail order from the Qsymia Certified Home Delivery Pharmacy Network, including CVS Pharmacy, Walgreens and now Express Scripts, as part of the Qsymia Risk Evaluation and Mitigation Strategy (REMS) program. Contact information for the certified pharmacies can be found on and .
Qsymia was made available September 17, 2012 and is the first FDA-approved once daily combination therapy -- and the first new medication available in 13 years -- for the treatment of obesity.
Deutsche Telekom in T-Mobile USA-MetroPCS merger talks
http://news.yahoo.com/t-mobile-usa-metropcs-talks-over-deal-sources-153930544--sector.html
"Real Time" Patent Agreement with Microsoft: (An example of the way it should have been with Calypso)
NeoMedia Licenses Mobile Barcode Patents to Microsoft
NeoMedia grants Microsoft worldwide rights to license its patent portfolio
Press Release: NeoMedia Technologies, Inc. – 2 hours 1 minute
BOULDER, Colo.--(BUSINESS WIRE)--
NeoMedia Technologies, Inc. (OTC BB: NEOM), pioneers in the mobile barcode industry, today announced that it has granted Microsoft a worldwide, non-exclusive, license to NeoMedia’s patent portfolio.
NeoMedia’s IP portfolio, consisting of over 74 patents awarded and pending worldwide, encompasses many mobile barcode implementations used widely across the industry.
“The agreement between NeoMedia and Microsoft underscores the importance of intellectual property to our growing industry,” said Laura Marriott, Chief Executive Officer of NeoMedia. “As mobile barcodes become a key fixture in the mobile marketing mix, it is important for stakeholders across the industry to ensure the solutions they employ leverage the relevant intellectual property in a responsible manner.”
“It is a very exciting time for the mobile IP industry as companies develop new technology for the always connected consumer,” said Ragnar Olson, Partner, Global IP Law Group. “We appreciated the opportunity to have worked with NeoMedia to bring about this agreement.”
About NeoMedia
NeoMedia Technologies, Inc. is the pioneer in 2D mobile barcode technology and infrastructure solutions that enable the mobile barcode ecosystem world-wide. Its technology platform transforms mobile devices with cameras into barcode scanners, enabling a range of applications including mobile marketing, consumer oriented advertising and mobile ticketing and couponing.
NeoMedia’s suite of products, services and extensive IP portfolio means it is the only provider able to offer customers a comprehensive end-to-end mobile barcode solution. NeoMedia’s current customers include handset manufacturers, platform providers, brands and agencies.
Learn more at www.neom.com or visit us at one of the following online destinations:
LinkedIn: http://www.linkedin.com/company/neomedia-technologies
Twitter: http://twitter.com/neomediainc
Pinterest: http://www.pinterest.com/neomedia
About Global IP Law Group, LLC
Global IP Law Group, LLC is a law firm based in Chicago, Illinois with affiliates in London, Auckland, and Seoul. Global IP assists clients in monetizing patents through sales, licensing, and litigation. The firm advised Nortel Networks through the monetization process of Nortel’s more than 6,000 patents, which culminated in pending sale to a consortium including Apple, Microsoft, RIM, Sony and Ericsson for $4.5 billion.
Patent Giant Targets Telecom Firms
UPDATE: Patent Giant Targets Telecom Firms
Last update: 2/16/2012 2:15:48 PM(Updates with details, decline to comment from T-Mobile, Sprint.)
By John Letzing
Of DOW JONES NEWSWIRES
SAN FRANCISCO (Dow Jones)--Intellectual Ventures, an intellectual property firm that's amassed tens of thousands of patents, has sued telecom firms including AT&T Inc. (T) and T-Mobile USA Inc. for infringement. The complaint filed Thursday in a Delaware court marks an additional lawsuit from a firm that has raised some concern as it wields a considerable patent portfolio. Bellevue, Wash.-based Intellectual Ventures, which has some 35,000 patents and patent applications, was founded in 2000 by former Microsoft Corp. (MSFT) executive Nathan Myhrvold. The firm has tapped thinkers, including Microsoft Chairman Bill Gates, to develop some of its own innovations, while purchasing most of its patents. Intellectual Ventures alleges in its complaint Thursday that defendants AT&T, T-Mobile and units of Sprint Nextel Corp. (S) have infringed on 15 of its patents. The patents relate to technology such as the sending of messages between mobile devices and blocking service over a telecom network. Intellectual Ventures acquired the patents rather than developing them internally, according to the firm's Chief Litigation Counsel Melissa Finocchio. Finocchio said that Intellectual Ventures reached out to the telecom firms over "many months" about reaching a licensing deal for the patents, though the firms proved "unresponsive, and uninterested." Representatives from AT&T, T-Mobile and Sprint all declined comment. Intellectual Ventures had avoided filing lawsuits over its patents until late 2010, when it sued a number of firms, including security software maker Symantec Corp. (SYMC). Last fall, Intellectual Ventures sued Motorola Mobility Holdings Inc. (MMI) for alleged patent infringement. Motorola is being acquired by Google Inc. (GOOG), in large part due to its considerable arsenal of patents. Intellectual Ventures has previously disclosed that Google, Microsoft and Apple Inc. (AAPL) have a financial interest in the firm. Intellectual Ventures has drawn fire from some critics who question a business model that involves developing ideas, rather than using ideas to support a business model other than licensing intellectual property. The firm states in its complaint filed Thursday that it has paid inventors more than $400 million for their inventions, and has pulled in more than $2 billion in licensing revenue to date. In the complaint, Intellectual Ventures seeks a jury trial and unspecified compensation. -By John Letzing, Dow Jones Newswires; 415-765-8230; john.letzing@dowjones.com (END) Dow Jones NewswiresFebruary 16, 2012 14:15 ET (19:15 GMT)
Link to Form DEF 14C - Other definitive information statements Filing:
Filing Date2011-10-13
Accepted2011-10-12 19:00:50
Documents1Period of Report2011-10-12
Filing Date Changed2011-10-12
Effectiveness Date2011-10-13
http://www.sec.gov/Archives/edgar/data/815098/000107878211002982/0001078782-11-002982-index.htm
StockWatcherY2K
The "D" has been dropped today per OTCMARKETS.COM:
http://www.otcmarkets.com/otc-pink/marketActivity/symbol-changes?search=pdpr&searchType=symbol
StockWatcherY2K
Link to September 23, 2011 Quarterly Report
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=60991
StockWatcherY2K
RE: Drugfalco
And this is the "Killer" paragraph in the filing:
RESOLVED, that the reverse stock split will not in any way affect the stated par value or number of authorized shares or in any other way change, alter or otherwise amend the Company’s Articles of Incorporation in the state of Wyoming, and that therefore no amendment to the Articles of Incorporation is required;
StockWatcherY2K
Link to SCHEDULE 14C INFORMATION Filing:
http://www.sec.gov/Archives/edgar/data/815098/000107878211002767/0001078782-11-002767-index.htm
Filing Date2011-09-21
Accepted2011-09-21 17:27:23
Documents1Period of Report2011-09-21
Filing Date Changed2011-09-21
Link to 8K Filing dated 2011-08-17:
http://www.sec.gov/Archives/edgar/data/815098/000107878211002332/0001078782-11-002332-index.htm
Agreed, this company/stock does have great potential, but it is still a “Pinkie” so care needs to be taken.
Looking to increase my holdings, but it so thin, finding it difficult to get the share count I wish to add.
Happy Trading!
StockWatcherY2K
Thanks for the link to the filing.
This answers the question of authorized share count:
Common Stock
FiscalYear End FiscalYearEnd QuarterEnded QuarterEnded
PeriodEndDate 06-30-09 06-30-10 12-31-10 03-31-2011
CommonSharesAuthorized 950,000,000 350,000,000 350,000,000 350,000,000
CommonSharesOutstanding 302,916,123 64,684,100 106,703,100 106,703,100
Free TradingCommonShares 282,864,959 51,877,000 85,575,806 85,575,806
TotalNumber of Shareholders 334 340 342 342
STOCKHOLDERS EOillTY (DEFICIT)
On March 15, 2007, we filed an amendment to our Articles of Incorporation with the Secretary of
State of Idaho to increase our authorized shares of common stock to 950,000,000 shares of Common
Stock, $0.001 par value per share, and to re-authorize 10,000,000 shares of preferred stock, $0.001 par
value per share (the "Amendment").
On April 16, 2010 the amount of authorized shares of common stock was decreased to 350,000,000
and the authorized amount of preferred stock was increased to 50,000,000 as a result of a 1:10 reverse
stock split and reauthorization. The par value of the common and preferred stock is $0.01 per share.
While there are no subsequent issued and outstanding as of the filing of these financials, as of March
31,2011 there were 1,000,000 shares of preferred stock issued and outstanding at par value.
Have a great day!
StockWatcherY2K
Guess I'm going to need to member mark you and heed your prognostications!
Hope all is well.
StockWatcherY2K
Like sand through an hourglass....
So go the days of this soap opera stock....
Just another chapter in the long history of Calypso Wireless.
StockWatcherY2K
Filing with SEC on 4/6/2011:
http://www.sec.gov/Archives/edgar/data/815098/000000000011021335/filename1.pdf
Greetings Tom!
We got fortunate on this one. I was able to average down to .004 during the transition period and was then able to unload during the run up, hope you had the same positive outcome.
It’s been entertaining to read the board now, so many newbies with $$ in their eyes. Have seen this story unfold several times in the past, I wish them the best of luck. Have been following a very similar story on another penny, PDPR, which is currently going through some of the same issues TRDY is now: Delisting, Shell Purchase, PR, and waiting on a Filing.
Saw you posting and wanted to take the opportunity to wish you and yours a Very Merry Christmas and a Wonderful New Year.
Take Care!
StockWatcherY2K
FYI - Motorola Mobility Sues Apple for Patent Infringement
Last update: 10/6/2010 2:01:00 PMLIBERTYVILLE, Ill., Oct 06, 2010 /PRNewswire via COMTEX/ -- Motorola, Inc. (MOT) today announced that it's subsidiary, Motorola Mobility, Inc., has filed a complaint with the U.S. International Trade Commission (ITC) alleging that Apple's iPhone, iPad, iTouch and certain Mac computers infringe Motorola patents. Motorola Mobility also filed patent infringement complaints against Apple (AAPL) in the Northern District of Illinois and the Southern District of Florida. Overall, Motorola Mobility's three complaints include 18 patents, which relate to early-stage innovations developed by Motorola in key technology areas found on many of Apple's core products and associated services, including MobileMe and the App Store. The Motorola patents include wireless communication technologies, such as WCDMA (3G), GPRS, 802.11 and antenna design, and key smartphone technologies including wireless email, proximity sensing, software application management, location-based services and multi-device synchronization. Motorola Mobility has requested that the ITC commence an investigation into Apple's use of Motorola's patents and, among other things, issue an Exclusion Order barring Apple's importation of infringing products, prohibiting further sales of infringing products that have already been imported, and halting the marketing, advertising, demonstration and warehousing of inventory for distribution and use of such imported products in the United States. In the District Court actions, Motorola Mobility has requested that Apple cease using Motorola's patented technology and provide compensation for Apple's past infringement. Kirk Dailey, corporate vice president of intellectual property at Motorola Mobility, said, "Motorola has innovated and patented throughout every cycle of the telecommunications industry evolution, from Motorola's invention of the cell phone to its development of premier smartphone products. We have extensively licensed our industry-leading intellectual property portfolio, consisting of tens of thousands of patents in the U.S. and worldwide. After Apple's late entry into the telecommunications market, we engaged in lengthy negotiations, but Apple has refused to take a license. We had no choice but to file these complaints to halt Apple's continued infringement. Motorola will continue to take all necessary steps to protect its R&D and intellectual property, which are critical to the company's business."
Could it be the conversion has already started?
What makes me really wonder today...where does the MM's suddenly got all this 0.014 shares from? I counted it was about 10 buys with almost 1 million in volume?
The days before 1-2 buys with maybe 50k-100k volume knocked out some 0.014s, 15s or whatever?
"The credit line is in the form of convertible debentures"
Until the details of the funding terms are released, i.e. the conversion price and associated dilution, Caveat emptor.
Happy Trading!
StockWatcherY2K
Marathon Group Announces Deal With N.I.R. Group, LLCLast update: 9/23/2010 9:30:00 AMBROOKLYN, N.Y., Sept 23, 2010 /PRNewswire via COMTEX/ -- Marathon Group (formerly Pediatric Prosthetics) (PDPR) today announced that it signed a deal with the N.I.R. Group, LLC to fund the new direction of the company by providing up to ($100,000) dollars. The funding terms outline an immediate cash infusion and an additional ($1 million) dollar line of credit upon which the company can draw upon. The credit line is in the form of convertible debentures and will allow the company to invest in marketing and advertising campaigns as well as working capita and minor acquisitions. Marathon went public in December 2009 and focused primarily on growing the Company. After the recent reverse merger of the privately wholly owned subsidiary Marathon Health Care Corp. in December 2009, the focus of the re-energized company is now on growth. Details of the funding as well as the company's financial statements are in the process of being prepared for filing and disclosure under the Alternative Reporting Standards on Pink Sheets. "We are firmly committed to disclosing the recent events that have transpired, as well as financial history of this company for the past two fiscal years. Our legal and accounting departments are working diligently to have these filings and disclosure made within the next two weeks. I sincerely hope that our commitment to communicate with our shareholders and the public about our new business model demonstrates to investors that we are very serious about building a company that provides value, continuity, and return on investment in this very expanding industry," stated MacDonald Tudeme, Marathon's new CEO, who further added, "The prospects for future development are encouraging and once the initial company disclosure and financial information is filed we will continue to update our shareholders and the public on a regular basis through filings and Press Releases to communicate news and major developments."
REUTERS: Vivus' fat pill works; safety a concern-FDA staff
http://www.reuters.com/article/idCNN1323120220100713?rpc=44
RE: ohiotom
No problem. Sounds like you have lots of experience in the "Shell" game...LOL!
Hope this turns out good for you, but you know what normally happens with these.
Have a great day!
StockWatcherY2K
RE: ohiotom
Tom,
Hope all is well with you.
I read through the proxy statement and here is my take on the basics for current stockholders.
No response required from stockholders, the company has the required votes for the sale of the company.
They expect the sale to occur by the end of the month.
Current stockholders will not receive any funds from the sale.
Stock will be delisted.
The remaining shell will be up for sale and current stockholders may get something if/when the shell sale occurs.
If/when the shell is sold, it could be dilutive to the current stockholders.
Sorry Tom, not any real good news in it for current stockholders....
Have a great day!
StockWatcherY2Y
Link to Proxy information:
http://ih.advfn.com/p.php?pid=nmona&cb=1269864688&article=42052704&symbol=NO%5ETRDY
May 31, 2010 @ 1:00pm
From the 10Q:
a. Assets Held for Sale
On December 18, 2009, the Company entered into a definitive Asset Purchase Agreement whereby Trudy would sell substantially all of its assets to MMAC, LLC, which also would assume certain liabilities of Trudy.
Under the terms of the agreement, MMAC will assume substantially all of the secured and unsecured liabilities of Trudy with the exception of $2.7MM of personal debt owed to the principal shareholder and Chairman of Trudy, William W. Burnham. In consideration of the sale of substantially all of its assets, at Closing, Trudy will receive a note from MMAC to Trudy in the principal amount of $225,000 and an equity interest in MMAC, not to exceed 33%, determined in accordance with the net asset value of Trudy at Closing. In addition, loans from an affiliate of MMAC to Trudy, estimated to be $600,000 at Closing, will be assumed by MMAC at Closing. Substantially simultaneously with the Closing, Trudy will transfer the note and the equity interest in MMAC to William W. Burnham in consideration of the cancellation by Mr. Burnham of the personal debt owed by Trudy to Mr. Burnham, with the exception of up to $50,000 of debt owed to Mr. Burnham which will remain outstanding and which will be repaid to Mr. Burnham one year following the closing if and to the extent Trudy has not spent the $50,000 of cash it will retain at the closing for general corporate purposes.
Holders of Trudy’s common stock will not receive any payment or distribution with respect to their shares pursuant to the sale of substantially all the assets to MMAC.
MMAC will also enter into a new four year lease with Noreast Management, LLC, a company that is 91% owned by Mr. Burnham, for Trudy’s current headquarters on substantially the same terms as the current lease with Trudy.
Ashley Andersen Zantop, CEO and President of Trudy, Fell Herdeg, CFO, and William W. Burnham, Director of Corporate Development will be retained as employees by MMAC on substantially the same terms as their current employment with Trudy. Mr. Burnham and Ms. Andersen Zantop will join the Board of Directors of MMAC.
Trudy’s senior management intends to recommend to its Board of Directors that, after Closing, Trudy dissolve under Delaware law, delist its Common Stock from trading through the facilities of the pink sheets, deregister its Common Stock with the Securities and Exchange Commission (“SEC”) under the Securities Exchange Act of 1934 and liquidate. In the event of dissolution and liquidation, it is highly unlikely that stockholders will receive any distribution whatsoever.