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How come the price was not a .25 or less today? TIA
Bench
NEWS OUT
I saw that "rumor" on Yahoo, the guy seemed bogus to me. I doubt he knows anything. I think today was his first time on the board.
I hope you are right about the filing. Thanks for the update.
Bench
"Seems like anticipation of impending Q3 quarterly results is starting to ramp up...."
Sounds good to me Xanada.
I was only partially filled, so I will have another order in again tomorrow.
Bench
I bought some more at .019 today. I considered that a bargain, JMO.
Thanks, I bought some yesterday and today.
GLTY2
Bench
A lot of volume today at .011, yet the stock isn't budging. That is kind of weird for MMIO.
Any thoughts?
TIA
Bench
Congratulations guys!! That was a great PR this morning. I was out all day, or I would have jumped in. I will do so tomorrow.
The Cornell situation had been my main concern, and now they have relieved it.
Bench
Thanks on both counts Trade :)
I look forward to more green tomorrow.
Good action today I thought.
Bench
Maybe this will be the meeting that finally finalizes the deal.
Hi Silver,
Can you email me. The address is in my profile.
TIA
Bench
Thanks Army. I was just getting a handle on the current situation before I plunk some of my money down.
Thanks for your help.
Bench
Thanks! If I read it right, they could theoretically convert and sell up to about 900,000 shares a day (5% of the OS), until paid off. Which at .05 a share comes to about 300 million shares they can sell in total ($15 million loan). It would be impossible to do that with the volume this stock gets, but I said theoretically.
Does that add up right?
TIA
Bench
Thanks Army!
I understand that they can buy out Cornell whenever they want, and I see how many dollars they received. What I can't figure out is how many shares.
BTW, is the float really 6 million as it states on Yahoo?
I saw your other post, an update on Cornell by the company would be great.
Right now from the little DD that I have done, this stock seems to be a hidden gem.
Bench
Hi all, I read the IBOX, and Yahoo Finance. The float on Yahoo Finance says: 6.4 million shares! Is that true? Additionally, the IBOX mentions Cornell. How many shares do they have that they can sell now? None?
TIA
Bench
PS: I saw Dennis here, so I was curious. Those person marks come in handy ;)
Thanks for the response. I wonder how many people could have a loss here. The stock was almost at it's highest level of the year only about 3 weeks ago.
I guess I took a mini roll call :) Glad to see you guys still here.
Been buying this stock Friday and today. Anyone know of a fundamental reason why it has fallen so much lately?
TIA
Bench
Just wanted to say Hi to the board. I am not sure who is left. I still own shares, and am happy with the way the PPS has been moving lately, despite no news from the company.
GLTA
Bench
Looks that way....
It's good to be among friends :)
Yep, heading back up!
This post may have been overlooked:
This PR says they are targeting $40 million in sales for 2008:
http://biz.yahoo.com/pz/070917/126743.html
``These new orders are just the tip of the iceberg. Our sales department has been working at closing some deals with a number of multinational companies. We have a brand new facility to accommodate the rapid growth in sales. D Mecatronics expects this to be a record year for revenue and profitability. With our new facility and our new focus on large contracts, we are targeting $40 million in sales for fiscal 2008.''
This may be why the company is being bought out at .49 a share.
Bench
This PR says they are targeting $40 million in sales for 2008:
http://biz.yahoo.com/pz/070917/126743.html
``These new orders are just the tip of the iceberg. Our sales department has been working at closing some deals with a number of multinational companies. We have a brand new facility to accommodate the rapid growth in sales. D Mecatronics expects this to be a record year for revenue and profitability. With our new facility and our new focus on large contracts, we are targeting $40 million in sales for fiscal 2008.''
If the buyer wishes to remain anonymous and use Lesko as their agent, how will we ever find that out? I do not think the PPS will be dependant on that, JMO.
If I receive a proxy to vote on the offer, I don't care who the buyer is. Again, JMO.
Bench
My firm belief is that the price is lagging because this company is on the Pink Sheets. Since many scams are pulled on the Pinks, people are skeptical. I think once the shareholder vote date is announced, we should get a lot higher prices, IMO.
Here is the share structure from the IBOX:
Capital Share Structure - As of 2007-10-22
Stock Symbol: DMTN
Primary State of Incorporation: Delaware
CUSIP Number: 233279 10 8
Authorized Shares: 250,000,000 as of 2007-10-22
Outstanding Shares: 242,960,880 as of 2007-10-22
Restricted Shares: 112,423,000 (Held by the principals)
Float: approx 130,537,880
Corporation in good standing: yes
Current in state and federal tax filings: yes
Bench
I do not think it was Lesko's board that approved it. It was the purchasing company's. As I pointed out in my last post, I don't see how this can be a "Final" offer, if the purchasing company did not approve it. Also see "bagfull"'s post before this one, with a PR quote that says the purchasing company's board has approved the offer.
BTW, I have never seen a purchasing company put out a PR. When ECIL was bought out, Swarth never issued a PR.
I have no comment on the moderator situation.
Bench
Lesko Receives Board Approval to Purchase D Mecatronics
Monday October 15, 9:58 am ET
MISSISSAUGA , Ontario, Oct. 15, 2007 (PRIME NEWSWIRE) -- Bernardino Paolucci, Chief Executive Officer of D Mecatronics Inc. (Other OTC:DMTN.PK - News), is pleased to announce that the company has received a final purchase offer of $0.49 per share for all of its outstanding shares of the company.
This tells me that Lesko received board approval from the purchasing company. Additionally, the fact that it is a "final" purchase offer, tells me that it's a done deal on the other company's part.
As for the income and shares outstanding info, "blue_chips" posts that kind of stuff regularly.
Bench
I think this headline is pretty clear cut:
Lesko Receives Board Approval to Purchase D Mecatronics
Here is the link:
http://biz.yahoo.com/pz/071017/128903.html
I would imagine it includes them:
The offer is for a buyout of all of the outstanding shares of the company for 0.49 per share in cash.
Unless those are not considered "outstanding" shares.
Okay, but in your earlier post you said:
"The actual company has not yet voted"
That part concerned me. If you are saying now that you are not saying that, that's cool with me then.
Thanks
Bench
No answer?
You stated that Dino said the following:
6. Lesko is a consulting firm not the actual company. Actual company not yet known. The actual company has not yet voted.
If that is the case, it does not jive with this headline from October 15th:
Lesko Receives Board Approval to Purchase D Mecatronics
Keep in mind this is not DMTN's board, as they voted their approval on the 17th.
So are you saying that Dino contradicted his own PR?
What does this headline mean then?:
"D Mecatronics Inc.: Lesko Receives Board Approval to Purchase D Mecatronics"
For the person who PM'd me, YES, I am still in DMTN. Would love to close green again today.
Bench
I am back in here. I saw Dennis' post.
November 7, 2007 10:00am
Thanks. I didn't realize it was the same company.
How did you find this out?
The buyout company is in Europe