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Shorts are betting that 53 cents is top price.
That would leave all of us longs sitting here singing:
"Oh yes I'm the great P-10-der (ooh ooh)
P-10-ding I'm doing well (ooh ooh)
My need is such I P10'd too much
I'm lonely but no one can tell..."
Apologies to The Platters.
How does 53 cents hold firm when there's so much volume at the ask price?
If I was right earlier but the shakeout could only get down to around 51 cents (instead of 48), just maybe the launch angle gets higher after piercing the 53-cent ceiling.
Time to buy TSSI? I'm thinking about it. The stock had some publicity this year, didn't it? But it hasn't nearly retraced to the lows of what? 4 cents?
Any ideas about what prospects the company has to grow profits?
And please don't try market orders with PIOE! There went somebody's 1500 shares for 45 cents while 4 minutes before that and 2 minutes after that (and all morning long) everyone else got 52 cents for many more shares!
Breakout above 53 cents appears imminent to me. The supply of 53-cent shares is likely drying up. Some have been calling 50 to 53 a floor, but it looks like a ceiling to me. Ceilings hold for awhile, but when there is a breakthrough, a new ceiling must be found. The fun part is to see how much higher the new ceiling will be. 55 cents? 65 cents? More?...
If this volume indicates the deal rumors are in play, watch out! This rumor period could get us higher than where the price ends up after the news is announced. It just depends how leaky things are, or how excited the speculating public gets without knowledge.
I wouldn't be surprised to see a shakeout at around 48 cents to clear out the weak hands, followed by a burst to new highs today. But it's a guess based on patterns I've seen before.
Is it real or are we just P-10-ding?
Closed down 17.3% to 43 cents 100sh mischief. All day in the 50s with 133k shares traded, but in the end 100 shares took us to 43 cents.
I've seen this before. Sometimes the market ignores it and we start up tomorrow in the 50s. Sometimes the morning bid/ask magically hangs back at maybe .41/.43 and bye-bye 50 cents.
Get your bids in at 43 or 44 cents. Opportunity has arrived to be high bidder at a low price.
Or maybe the market maker has returned from a day at the beach.
If there's little volume, price level is wrong (sometimes).
Someone may do a big buy to see if volumes are better at 60 cents. But watch out! Someone may dump at 35 cents to see if they can attract a little panic volume.
--------------------
Oh good! I see that buyers are entering right now and bid/ask is .51/.52
The PIOE Investor Psychology Report July 10 3:00PM-
Asking 52 cents all day: This stock should have broke me 6 months ago, but somehow it went bankrupt yet I still have shares. The management believes that shareholder value can be maximized by selling or licensing patents, and by taking over a company looking to save taxes and/or become listed on an exchange. I am willing to wait because the next news is going to be good in that direction. After all this waiting, what is time to me? I won't take less than 52 cents for some of my shares, but you bet I am keeping some in reserve for the big pop! You gotta pay me 52 cents or I'm not interested.
Bidding 45 cents all day: I got out when the stock crossed 50 cents, but now I am changing my mind. I thought "no news is bad news" in this case, but now I see that even with no news, the price is still hanging around 50 cents. The passage of time does not seem to hurt the price. I want back in, but only if I can get a bargain price. 45 cents is my limit.
Result: Market lockup. Dollar volume = $9.00 as of just before 3:00PM
Or PIOE should consider taking over nearly-bankrupt government entities...
How about Puerto Rico, or Venezuela or Illinois?
What would our shares be worth if we had the power to tax??!!
I am feeling the same way-- fairly hopeful! I am hopeful that the price has not maxed out because there may still be some ways that the actual company acquisitions and/or patent licensing/sales could be more profitable than PIOE shareholders are expecting.
But virtually all PIOE holders must already by now be expecting a "good deal" to be announced. If the deal turns out to be good enough, and the new expectations after the deal point toward additional success possibilities, we will see a rising price.
I hope that the unexpected positive surprise arrives soon.
Chemist72 has tracked down the patents situation, but the market greets that with a yawn. Nothing big has happened to the share price between the June 30 record date and his post on this board today, so while it is great verification and I congratulate him on his find, it is not news, evidently. The people "in the know" where not surprised one way or the other by the patents assigned to P10.
At some point those "in the know" will get wind of something better or worse than expected, and the share price will move again.
I suspect the acquisition target company X is a known factor, and that explains (to me) why PIOE, that has nothing useful until there is a specific user, could be selling for 48 cents a share. Sure, cash has value, gold has value, lumber has value, but what is a NOL worth without a specific buyer? What is a very specific patent worth without the right kind of manufacturer?
Some kind of takeover is pre-planned and expected, it is said. I can buy that. So as I have said several times, will the next development be better than already expected, or worse?
Does GSB earn enough? The last 4 years' income before taxes were $5.98MM, $6.50MM $4.57MM and $3.74MM. Long time to use up NOLs at that rate, right?
The quarter ends today, so we'll have news when they decide to issue their report. I suppose they will do this in July sometime. I expect it will be an unaudited statement, and due to the company's inactivity it shouldn't be complicated or time-consuming to produce, I imagine.
Wouldn't you think they would discuss what is going on with patent licensing or sale, and with acquisition(s)?
I will find the balance sheet particularly interesting to see what their equity position became after March 31 and what funding they will report there. It will also be interesting to see if expenses are high because of all the professional costs of the bankruptcy and following. I think they had a negative equity as of first-quarter end, and perhaps that has been cured since then.
We already have expectations of acquistion and patent sales in the stock price to some extent, and maybe expectations about 2nd quarter transactions are already formed or forming. It will be very important that whatever is announced is better than already expected!
I can accept "Everything has been pre-planned", so where are we on the timeline?
It seems to me that the gray-market phase and listing of PIOE on the pink sheets came as a bit of a surprise. Was PIOE ready to have their lawyers do the listing application? Was their wording in the "5-trading days" clause explicit about whether that meant limited gray-market trading or the freer pink sheets market? These could have been problems that were not fully planned out. It makes me wonder if they anticipated the delay.
If the delay wasn't anticipated, then we are further along timewise than what was planned. So why the delay to acquire what was already planned for?
A few possibilities:
1. To shore up the tax situation, they may be waiting for an IRS private letter ruling. If the IRS gives their opinion about any tax issues in question, PIOE would be much safer.
2. The target company X that they planned to acquire didn't come to terms as expected. (Or there was no specific target company in the plan but they felt sure that they would attract one.)
3. There are delays that outsiders like us don't know about.
4. There are no delays and the acquisition announcement is on schedule and possibly imminent.
Do you like a good mystery? Become an investor.
Company X would have more ownership in PIOE than us existing shareholders in the end-- I think that is possible. I think you could be right in the scenario that you pose.
But that doesn't mean that our own holdings would decrease in value. The combined entity would hopefully be big enough that everyone's stake would gain.
However, I don't know how the 5% ownership rule plays with this or if it is involved.
I hope that our very complicated ship that the lawyers and accountants have designed doesn't get launched on its side!
The tax effects would need to be certain, I think you are right. They couldn't be guessing about any of that or they are asking for total loss.
I have read somewhere that a company establishes a valuation allowance (like an allowance for doubtful accounts) when management believes it is likely that some (or all) of a deferred tax asset will not be realized. This is how NOLs are carried on the balance sheet as assets-- deferred tax assets.
This is also complicated and needs to be totally understood by management.
Exactly. And it is comforting to see reasons for a delay in acquisition thanks to Chemist72 and his idea about uplisting within NASDAQ.
Enough time has gone by to think that some acquisition would be in the works.
On the other hand, it would be hard to imagine that there would be all the time, trouble and expense of attracting capital, going through an orderly bankruptcy with a well-developed plan, reissuing stock and meeting listing requirements, only to have patents worth zilch and no acquisition target in the end.
So I am very happy to see some reasonable explanation for the length of time that the process is taking. I am more inclined to buy more shares now than to fear what we have is a "dry hole".
The value of shares matters more than number. If I have $10,000, I don't care whether each "share" I have is a $1 bill, a $5 bill, a $20 bill or $100 bill-- as long as they all add up to $10,000.
On both sides of the acquisition transaction, the hope would be that the holding of $10,000 of old stock would be worth at least that much after the deal was done. If I have $10,000 worth of PIOE, I would hope that afterward I would have $10,000 worth of "new PIOE". The holder of $10,000 worth of "target company shares" would also want at least $10,000 of "new PIOE" after the acquisition. Of course, it may not work out that way-- value could rise or fall.
If the name of the acquired company is considered an asset that should be kept, I think it would be easy to change the PIOE company name. Maybe the name of the acquired company is "Forward Energy Services" with ticker FOES (fictitious). PIOE could change its name and ticker symbol for the newly combined company to "Forward Energy Services Holdings" (FOEH), instead of "new PIOE", for example.
So the target company won't stand for pink-sheets as the market for the newly combined company, as your theory suggests, and this is at least one factor that is delaying an announcement?
Perhaps you are right. A large, profitable company may not want to see its shares transferred to the pink sheets by way of a merger where PIOE would be the surviving entity. Maybe you are on to something there, and we are waiting for movement to the higher market before there is an enforceable acquisition agreement.
Which is it about a PIOE acquisition deal?
1. They have at least one deal agreed to but aren't announcing it yet.
2. They have a deal in principle, but it is not fully completed and binding due to some timing issue so that they have not executed contracts.
3. They are looking for a deal but haven't found one.
I question whether they would have an acquisition in force and yet not announce it during the initial trading period of the new PIOE stock. I think that such a situation might raise disclosure issues. But it may be that they could hold back such news until such time that the stock has been more freely traded beginning during the present pink-sheets period of time. I do not know if management would be forced by law to disclose this or could wait.
I think timing of finalizing a deal could be what we have here, by putting some distance between the issuance on new PIOE stock and doing the deal.
I hope that it isn't #3, but the more time that passes, the more likely there is no acquisition target yet.
Which do you suspect it is?
I don't expect 400 shares will cause 25% move in price like happened this morning, but I do expect news to create a choppy market with high volume.
The really important thing is that the news needs to be better than expected. There seems to be some pretty high expectation already built into the price. This board has had rumors of good news on it for quite some time.
I suppose that the 5-day average will be set today, so maybe an announcement will be forthcoming.
Wow, 50 more shares back down at .39 with a wide .39/.54 bid/ask now.
Perils of thinness: 10:55 sale .51 & .38!
It looks like someone sold 1400 shares at the market at 10:55am. At least it looks that way to me. The first 1,000 went for $0.51. But the next 400 went for only $0.38. Then, bid/ask returned to .51/.54.
It looks like any selling at all can push the price way down.
Maybe someone got away with something. Don't let the victim be you! (Although 38 cents was a very nice price very recently.)
I see we have opened with profit-taking this morning. Is MM loading up with 51-cent shares that he can sell later for 67 cents? I hope so because I can't take profits until we hit trading at around 67 cents due to some $1.06 shares (ACPW) I picked up in January, 2016, that I still have. In fact, two years before that I was a buyer at $3.60, but I managed to sell those shares and then buy later for much less.
But I won't be tempted at 67 cents. I have waited 18 months and somehow it survived bankruptcy, so no selling for me!
I'm hoping gain and share volume is news today and attracts some investment media attention. I mean, PIOE has hit 50 cents! I've only seen one mention of PIOE from a news source aside from the company press releases. There are buyers to be attracted soon.
Just bought at my same $.36 price again. Too bad I missed lower prices earlier. Good to see a daily volume above 100,000 already.
PIOE would be "acquirer", to preserve the NOLs, and the other company would be the "acquired". That's my guess. I can also guess that PIOE could acquire something larger than itself through the allocation of shares, raising capital, and/or borrowing. I suppose that acquired company "X" could get 100 shares of "New PIOE" shares and holders of PIOE now would get 6 shares of "New PIOE", for example. But that is just an example. PIOE could also acquire a smaller company or do many other things, I suppose.
But if PIOE goes large, PIOE would probably not be a tail wagging a dog. However, it might pay off very well to be a tail on a newly formed big dog.
First Pink Trade 1188 @ $.59
Bid .223 ask .59
By the way, my gray-market trade wasn't efficient ("achieving maximum productivity with minimum wasted expense") as a trade. No bid-ask was published at the time of the trade. If I had bid $.35 or even $.30 it may have filled. In a normal market, if I had bid above the market, it would have filled at the market price. There is no market like that in the gray zone. It probably went down more like, "Hey, How about 36 cents for some of those PIOE shares you have?" "Sure!"
It was a fling, but all things PIOE would be a fling right now.
Filled instantly. I was surprised.
I just moved the PIOE market to .36 through Schwab. Good morning for a new high. Thanks for the list of trades. It still brings my average cost down.
Yay! My (small) fortune is restored!
The gray market doesn't trade many PIOE shares, I agree. Price volatility under these conditions is very "Wild West".
But the cost of moving a few shares at $0.000009 was VERY slim. And yet, no one has moved any shares during market hours since then. So how many days will PIOE sit there looking worthless? Is there a purpose to sending this signal of PIOE worth $0.000009? Is someone hoping for dumps at "courtesy trade" level before this thing even gets started? A value of $0.000009 can't be good publicity if it is allowed to sit.
I'd feel better if they'd park it at somewhere around recent trading value. Someone probably has the $25 for the 100-share trade needed to do that.
Why so long to next transaction after $0.000009? It's making the downward spike in my portfolio-value graph turn into a valley.
PIOE reported $1.4 million in assets March 31, and adding the investment of $4.6 million, they should have assets of $6 million now. They don't seem to have a deferred tax asset from their NOLs, but they can only book that if there is anticipated profitability in the future. Since accounting standards are conservative, they probably can't book a deferred tax asset while the company is inactive. I don't know how much of this asset will appear once they become more active. As of then, it seems to be hidden from the balance sheet by rule.
I also don't see patents listed as assets, so I guess their value is at cost and very small. Maybe their market value is much higher. Cash assets would appear as these are licensed or sold, I suppose.
And then, when they acquire a business, it's anybody's guess what combination of assets and liabilities their $6 million in assets will convert to.
I see that 45,063,583 shares are outstanding after $4.65 million was invested. It looks to me like book value per share is around ten cents.
Actually, I am rather happy that the "floor" should be around ten cents, and it makes sense that the market would now be twenty to forty cents because of the potential here. If they can realize some of the potential, and rumors get going of substantial gains or acquisitions, well, I don't know how high the "ceiling" would be...
Once significant events happen they'll have to publicize them. We are due a first quarter report by the end of May. Maybe a deal will be announced. It will be interesting if trading will begin before or after these expected disclosures.