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I feel the same way and managed to get short at 1.65
Look it is a win for longs... Only down 10% today...Grats!
You are right it would... But that isn't going to happen here...
That is a nice dream when you wake up I will have already bought shares back under .10
That is the way I am looking at it... I believe I will be able to up my overall share count with out spending more than the commissions at IB & Fidelity(my brokers).... If/when I get back in under/near a dime I will gain over 25k shares for the same money...
It is not that I don't want to own the stock here it is just that I don't see them getting anything g done in the time frame they have given of fall for a move to Wyoming and a Ground Breaking on a plant with WNEC...
If I am wrong I will have to buy in higher than what I paid I'm sure... However, shares did drop to .105 already this week and touch just below a dime in the next couple weeks with no updates ...
As always this is just My Opinion
If you don't understand why a R/S hurts long positions then there is no need to respond to you anymore...
Buy all the shares you can afford and all in on this...
Good luck to you sir... You will need it
Problem with your theory is:
1. You assume he will be able to sell 41.4 million worth of shares next week and the PPS won't be destroyed and down another 30-50% making your assumption of 55-60 million shares way to low
2. You neglected to consider that when the share count has risen to that level over the 16 months or so GE has announced a R/S everytime
New 6K.... !
25 million shares now & 41.4 million dollars worth of shares left to sell to Kalani...
It could be correct ... Certainly not impossible they sold that many shares now ... Should be a 6k with new shares count at some point today or Monday pre-market if it has changed substantially since the last 6k that had them at just over 19 million shares on July 25
It is possible but prolly more like next week...
I wonder if there will be a Friday afternoon selloff today?
I sold all my shares between .116 and .123 for a not to shabby 20+ % gain on them...
I firmly believe I will be able to re-open a 100,000+ share position in this again back under a dime in the near future(long before they PR anything that is actually happening and ten football fields worth of goal post kicking down the road)...
You are right they do ....
The problem is timing when to jump in for a quick bounce flip...
Because if you time it wrong can be down "biggly" in the blink of an eye...
Correct he used the wrong O/S in his calculation...
You are going to be holding a large empty bag...
He appointed family and former employee friend nothing Yas changed here...
Ugg more friends and family appointed to his BoD....
I think your right and there will be a substantial PPS rise early next week after the R/S he announces Friday about 4:30 pm EST or so...
Might not be until late next week though if he doesn't announce the R/S until Tuesday like the last one...
I am sure shorts are just quivering at paying a less than .10 dividend when the stock is dropping more than that almost daily
Why would anyone mention that or care for any reason while in the midst of toxic dilution... Any "pop" from what should be positive and greatly improved earnings will simply sold back down by Kalani...
Maybe if this offering is finished and he hasn't started a new offering with Kalani they will matter... Maybe but doubtful
You misunderstood the article I think ... DRYS can do a 4 for 1 split before they need another authorization...
They are currently at 245 for 1 on there 1000 for 1 authorization on May 2nd
No they aren't ... If that we're remotely true there would be more than 250k shares traded and it wouldn't be down...
I think people were hoping with the volume that Kalani had sold more shares than they actually did... ~ 47 million dollars worth of dilution left pretty much gaurantees another R/S is coming in the near future .... Most likely before the Kalani offering ends
Let's see what happens at 3:40 ...
No... No ... & No... I am saying he needs another authorization to do more than a 1 for 4 R/S ... Which if he has control of voting is simply a rubber stamp...
Currently it looks like he has lost his voting majority if reports that his preferred shares are being diluted as well are correct as I think they are due to the stated amount in the law suit filings...
However... I expect DRYS board of directors all GE friends and family as I understand will just sell/issue him more preferred super voting shares and he will regain control of voting again somehow and approve more R/S
On May 2nd they approved multiple R/S not less than 1 for 2 or more than 1 for 1000...
May 11 did 1 for 7
June 22 did 1 for 5
July 21 did 1 for 7
Bringing the total since May 2nd authorization to 1 for 7x5x7=245
Anything more than a 1 for 4 will put them over the 1 for 1000 they were authorized for...
I have seen some reports that suggest a 1 for 4 is all that is left on the May 2nd authorization... A 1 for 7 may require approval from the shareholders... Is hitting the 1 for 1000 max authorization if he does more than 1 for 4... He may have a tough time getting approved for larger at this moment
This is based on GE's preferred shares being diluted along with common shares and him no longer being able to out vote commons anymore...
Possibly making a 1 for 7 difficult to approve... It also suggested DRYS could issue/sell however him more preferred super voting shares to take back control ...
Buyer beware... I took my haircut and am kicking myself for going long instead of short for the first time since Feb...
Ah well my next short here will more than make up for my .45 a share loss in the under 24 hours I was long
I don't know if that holds true in every state... However, here in Wyoming if State Funds we're/are/will be involved by law the public must be informed and a vote would need to take place...
Now it could be given a grant from an already approved (voted on) chunk of money that has been set aside for developing energy, however again the public would need to be informed of any agreement as it was made by State Law ... So I do not by any argument that the State of Wyoming involved with WNEC... Because said agreement for involvement would have required public disclosure here
It will probably be much worse by EOD... I'm thinking Kalani turns up the selling this afternoon
I think you are right volume has really dried up this morning... Unless there is a substantial increase in the afternoon for some reason
By you own math of 20-23% of volume a day you estimate of 50 million left is wrong...
Just Saying
I don't see that happening although I agree Kalani has to be close to finished...today will be painful for anyone long...
No 6k out he is making it up!... Doesn't mean he is wrong though
Same.... Hope I didn't jump the gun buying some low 1.90's
That would be nice...
Possibly a sub 2.00 close today... Kalani killing it today
Volume has really dropped off from this morning ...
That would depend on your broker... I can't get any with Fidelity but last I checked IB still had some...
Would be nice if they started this testing they have been talking about for months so they could move to Wyoming... Again another thing they have PRd for months that is no where near happening...
As per their pumpcast a couple weeks back they still hadn't started yet...
All they do is continue to push the goal posts back ... And not actually complete anything... Much like every deal they have ever signed to date...
No...
Just because you want to play connect the dots that are not there doesn't make a connection...
And so what if they it is the same firm ... Seriously so they started a lobbying firm... How does that benefit CCTC?
Are they going to lobby Eves and Company to finally do some of the things they PR?
Because if they are going to lobby CCTC to finally keep a deadline and actually complete something they PR on time then I stand corrected and it is huge news!
This actually is positive news ... in a no one can export CCTC product without it kind of way ...