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from The Shareholder Meeting...
Probably posted earlier but the following came from HSM:
(thanks rsvader)
Here are some pics of the meeting.
http://www.rufusvssec.com/DFWmeet
also (thanks explodingwallet)
http://picasaweb.google.com/ExplodingWallet/CSHDMeeting
(thanks TonySorprano)
A quick summary of what Rufus said last night:
-the SEC wants this case to go away and has already been in touch with Rufus to settle
-all of us shareholders, by being proactive, have helped enormously because it has gotten the attention of very high government officials
-a number of investigations are under way of the SEC
-Rufus wants to gets this finished as quickly as possible and move forward, he hopes to have the new shares in our accounts within 2 weeks, hopefully sooner
-Rufus REALLY wants the shareholders committee formed as quickly as possible because there are many benefits for both the company and the shareholders
-CSHD will be announcing a $4B credit line with a bank of Panama for the hypothecation of the Venezuelan bonds
-two bank presidents, both CSHD shareholders, validated all the assets this week and are interested in merging with CSHD
-several other government officials, also CSHD shareholders, have been in touch with Rufus regarding support and assistance
-many of the very powerful people that helped Rufus put together this deal are doing depositions regarding the company, something Rufus did not expect or thought that he would need but it is accelerating the process
-the Judge's ruling last week was a big win for CSHD because the SEC was asking for immediate replacement of the officers and putting the company in receivership and all they got was a TRO so Rufus could not do anything illegal.
-Rufus will be updating us on events in the next 3-4 days as they occur, he will hold nothing back.
among many other things.
__________________
i've got no trades in my T&S window. eom.
Scottrade won't let me buy. They keep giving me the following: "CR1: Buys are not allowed for this security. Please call your local branch to place the order."
Any ideas, or anyone else experience that? TIA & GLTA!
samaelrocks: thank you! eom.
BULListic: same on mine. eom.
creative headlines posted by Teslafan on HSM...
Could you just imagine this???
r u kidding me, we closed green?! glad i held.
EDITED ds2006: read post #104456...understand that the book value will go up bec. the asset portfolio will be increasing due to the addition of multiple bonds.
Sidebar: you are also forgetting (as I explained earlier in post 104334) that you are getting 6 ADDITIONAL shares (on top of what you already have)…so not a 1 for 6 but a 1 for 7.
“(in your specific case) is that on or about Oct. 30th you should have your original amount of shares (1,750) PLUS that amount x 6 (remember it said for each share you will be given six additional shares). In other words you will have: 1,750 + (1,750 x 6) = 12,250.”
dealerschool2006: the PR is very clear on what the "math" or formula is. The 10KSB you mentioned was amended, also clearing that up.
dealerschool2006: I agree, however, look at it this way, that information was released on Monday and we closed @ 1.80. We got the clarification PR on Monday night and then on Tuesday, when the market had the ability to digest (and react!) to that news, the stock closed up to 2.02. I believe if it was bad news that we would have gone down (or dropped off of a cliff) and not up. (Today, w/the "E" thing, we closed back down, but still above where we closed on Monday, which also tells a lot.)
Point is, in that clarification PR it was said that the BV for CSHD is 11.78 (AFTER the 6x additional shares) so this is still a 6+ bagger from here. So, there is still incredible value here whether you will be "rewarded" w/the additional shares or not.
dealerschool2006: my understanding is that the assets will have gone up by that time reflecting a higher market cap, which will account for the additional shares that will be given to the shareholders.
EDIT: dealerschool2006: The best answer might be that, at this time, there is no best answer.
What we do know (in your specific case) is that on or about Oct. 30th you should have your original amount of shares (1,750) PLUS that amount x 6 (remember it said for each share you will be given six additional shares). In other words you will have: 1,750 + (1,750 x 6) = 12,250.
(I suppose that area could get cloudy as to when you purchased those shares and/or were they settled or not on October 16th? I read from someone's post that RPH said on SPR that "settlement" didn't matter -- you could have even purchased them on the 16th -- but I did not hear that interview myself. Just passing what I heard along).
What the summation or total that you will have (dollar amount) will depend on the PPS that day. GLTY.
boing. did u get your cheapies? eom.
TR: you're right! on that list are a couple of other companies (Donini, Inc. & Terra Nostra Resources Corp) that had a grace period expiration date of Oct. 16th, like CSHD did, but they (DNNI & TNRO) obviously did not file what was needed to get them off the list...whereas CSHD did file the 10K (on the 16th) and that is why you don't seem them on this list (which was created on Oct. 17th).
Nice find, TallRob0.
CBGB: maybe cuz this isn't a pinky? eom.
wall @ 2.10 broke down. eom.
and up goes the b/a!!! eom.
dragon52: excellent point. eom.
Didn't RPH say that he had institutions lined up that would buy this up to $35? So if the book value PPS is $11.78 (after the 6 additional shares), then this could continue to rise even more...making this the most amazing climb and/or squeeze ever. This truly is an amazing plan, and like he said, something that has never been seen before.
Sean: not sure a summary can really be given. I know that is not what you want to hear but there are a lot of very good opinions out there. You'd almost have to read/review them.
Best I can tell you is we got the 10KSB, then the PR...and in that PR it said there was a "typographic error in the 10-KSB" and that "A 10-KSB/A was filed and accepted at 6:50PM and will show up on the Edgar System first thing tomorrow morning."
Everything else is almost up for grabs. GLTY!
RB40: i'm sort of w/you but in the quote from RPH it says "for every share you owned...you will receive 6 additional share" (sic).
So, I think in your example, 1,000 shares become 7,000 shares (1,000 x 6 (6,000) + your original 1,000 shares).
I guess we'll find out soon enough. GLTY!
rookie: HOLY NIGHT! That is amazing. eom.
According to Yahoo, it's out. eom.
CBGB: looks like they confused Ecowood in there. eom.
rookie: i'll 2nd that. eom.
1 of the best things for CSHD stock...
is for the 10K to come out on time and have the stock halted for a month or two by the SEC (to verify everything). While most people may not like that idea at first, give it a thought:
The 10K will show, to the SEC, that the merger of FHAL & CVSU/Waatle shares are complete and forming CSHC’s CSHD stock (we already know this is complete, however, by the PR on 9-13-06) and that the $800M (already filed to the SEC) are worth the approx. $7 in book value ($800M / 110M shares).
BUT...what is still coming is the big stuff in the 10Q (which all occurred after the end of their fiscal year, the 10K). We have seen through PR’s and & the info from gsscca.org that $9B is under contract, and Rufus mentioned that we have $15B in total.
Important to note: The 10K shows the end of last fiscal year (ending in June). It is due 90 days later (end of September) and then the 15 day extension (October 15th but bec. that is a Sunday it becomes Oct. 16th). The 10Q will show that extra $8B-$14B (not counting the already counted $800M) and it is due 45 days after the end of the 1Q (September), so middle of November (or up to 15 days later if there is an extension).
You see where I am going w/this?
So, imagine the stock gets halted for approx. 30 days (like TBV back in 2003). So when it really kicks back in it might officially start @ the $15 contractually agreed on price between FHAL & CVSU (jumping up from what we see currently as the PPS) but really be worth a heck of a lot more ($15B / 110M shares = $136 PPS...which, mind you, is only @ BOOK VALUE -- not a two to five time multiple).
Now do you guys see why the management of Conversion Solutions is indeed saying what they have said, that this could be better than Google, and how horrible this must be for the shorts? This could go from a single digit PPS stock to a triple digit monster.
All bets are off, of course, if the 10Q comes out w/the 10K though. Back to lurking, and my weekend. GLTA.
Thanks, masta. Lookin' forward to Sabra's quote!
hey, just found this board now. nicely done guys & gals! GLTA!
boing? eom.
first b/a are posted. eom.
I like Pepsico's entry, they know about dividends.eom
BSB: out of curiosity, what broker do you use? I use Scottrade and I'm on the list.
shareholder list is 108 pages long. eom.
singular: I'm trying but it won't let me...I believe Ihub is having problems bec. the message would be too long. When I cut & pasted it from the CVSU web site into Word, it turns out to be 108 pages.
rookiecrd1: don't forget PEPSICO. eom.
TR: gr8 to be accompanied by them!!! eom.
drag: agreed! i'm on that list, too. eom.
nice filling of the gap. eom.
rich: happy i bought more yesterday. eom.