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His past record would not impress another company. IMO, trading the patient rights or some other tangible item would be the only way for Dan to hire on as CEO of any company.
I imagine that dan has traded the patient rights to secure his current position. If so, that would strip WSTI and her investors of all value. We will be left with nothing but worthless paper.
Look at how many shares have traded since the last split. Just imagine how many will trade when it returns to trip 1’s.
Sad to say, there will always be people to buy this stock. Some will hope for a quick return or a lottery payout if the company starts running big. Many will buy at the bottom in hopes for a snail uptick to double or triple their investment. Regardless of the reason, there will always be people to fund Seamus’ financing scam.
Same trailer, different park. Enron and fraudulent books that is true. Those books were cooked solely to scam money from investors. This company is doing the same thing but using a different method.
The Enron method was used by many companies in prior years. Just came to light with Enron. People learned not do to that as people were watching for that action. Seamus has found another method that does not attract the attention of regulators.
As long as people will buy the stock after a split he will continue to soak and wash to line his pockets.
Same game that Enron pulled several years back. The total reason for this move is to enrich the CEO and officers. Not for the company. Same trailer, different park!
The company officers today learned from Enron and others as to what scams they can get away with.
I understand the capital market. This CEO ask for a R/S several years back and the stockholders rejected the split. The next year, he presented a vote to the stockholders to creat a new preferred stock. It was approved by the stock holders. Hidden within that document was a clause that allowed him to receive the preferred stock. That stock guarantees him 54.5% of the voting stock. It was a move to eliminate the stockholders ability to limit his power. Almost all people who buy and trade this stock do not know this. Many sink money in just as they would with a lottery ticket. But the power all offers better odds than this stock.
I still trade this stock. Only I buy at trip 1. Then wait till it ticks up and I make anywhere from 2 to 5 times my initial investment. Then I wait for the next split and play again.
Just tired of hearing people whine here about this stock. It is nothing more than a financing arm of Seamus.
This is the CEO’s way of getting free financing. Sale to the limit and then flush with a giant R/S and start over again. He has a controlling interest and can pass any split he chooses. Stockholders cannot stop his action.
All investors with this company, be careful with Dan in the lead. He is a good salesman but NEVER allow him to have the checkbook!!
The R/S will be the same as before. A way to reduce the shares held by stockholders. This will return these shares to the company and they will offer again to raise money or use convertible debt to raise money. Either way, it is a manner of financing the CEO’s operations at the expense of stockholders.
It would be a good procedure if the A/S were reduced. Then the new price would hold.
People seem to lose sight of the facts of this company history!
This company has used the R/S option to finance the company operations for a long time.
The issue is very simple: should this be allowed and legal or not?
A public company is owned by the stock holders. The company leadership has a duty and obligation to protect stockholder value. This is done through profitable operations.
When a company CEO manipulates the stock to give himself sole voting control, that is wrong. This CEO did just that so he could secure the ability to manipulate the stock and price to finance his operations.
What makes this wrong is the fact that he knows that people will invest in the stock, he will wipe out the stock holders with a R/S, and that people will buy afterwards.
This action is a scam!!!! It is done with complete intent to scam money. No different than the people who scam the elderly of their savings by false claims.
The ends can never be used to justify the means!!!
Seamus has been barred from entering the US for a reason!!!!
It was “expected last week or the week before”.
8-K 1 a19-8639_18k.htm 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 22, 2019
Uniti Group Inc.
(Exact name of registrant as specified in its charter)
Maryland
001-36708
46-5230630
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
10802 Executive Center Drive
Benton Building Suite 300
Little Rock, Arkansas
72211
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (501) 850-0820
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 7.01 Regulation FD Disclosure
On April 22, 2019, Uniti Group Inc. (the “Company”) intends to meet with certain investors and has prepared the presentation attached hereto as Exhibit 99.1 in connection therewith.
The information contained in this Item 7.01, including the exhibit attached hereto, is being “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of Section 18 of the Exchange Act. The information in this Item 7.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as otherwise expressly stated in any such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit
Number
Description
99.1
Uniti Group Inc. Presentation dated April 22, 2019
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 22, 2019
UNITI GROUP INC.
By:
/s/ Daniel L. Heard
Name:
Daniel L. Heard
Title:
Executive Vice President — General Counsel and Secretary
3
There is a news letter on Schwab concerning WSTI. It is from the landlord of the building they lease. Stating that the lease is up to date. It also states that the lease agreement must be accepted or rejected in whole during bankruptcy proceedings.
What company does the bankruptcy apply to: Uniti Group or WSTI?
April 22 (Reuters) - Uniti Group Inc:
* UNITI GROUP INC - MASTER LEASE AGREEMENT WITH WINDSTREAM REMAINS IN FULL EFFECT
* UNITI GROUP INC - WINDSTREAM HAS STATED ITS INTENT TO CONTINUE OPERATIONS IN THE ORDINARY COURSE
* UNITI GROUP INC - WINDSTREAM REMAINS CURRENT ON LEASE PAYMENTS; APRIL LEASE PAYMENT WAS PAID IN FULL AND ON TIME
* UNITI GROUP INC - WINDTSREAM LEASE MUST BE ASSUMED OR REJECTED IN WHOLE DURING BANKRUPTCY PROCEEDINGS BY JUNE 25 Source text for Eikon: https://bit.ly/2GAO5W3 Further company coverage:
Hell, I buy lottery tickets. No difference.
This CFO can only turn the company around IF the CEO follows the advice and allows the turnaround.
He has control of 54.5% of the voting stock. He can do what he wants without any permission of the stockholders.
This R/S cycle is a free funding vehicle and he will have to end it before a turnaround can happen.
Understand, he does not need stockholders to be happy. Just needs people to be willing to keep buying stock.
Some see more than others. :)))
If you find a way to make a retail purchase at those low prices let me know! Just the conversions hitting against the stock.
Something is wrong with my private message board. IHub renews but then kicks out.
I agree with your last two post to me. I did not look at the trades till after your first message. I made an assumption based on happenings of another stock I own.
I do share your concern. Schwab shows N/A for all info today and it was showing accurate prior to closing.
I guess we will wait time Monday to see which way it goes.
Convertible debt holders liquidated at or converted at discounted prices. It will bounce back to .0001.
His funding does not come, directly, from people buying stock. The funding comes from making the convertible debt. He gets the full amount of money and the debt holders then sell on the market. They convert at discounted prices and/or sell short at the market price.
This is how the buyers pay back the debt. No chance of default by the company.
I did not say this was an ethical method of funding the business, just that it is legal. He disclosed the R/S notice so all can see. Everyone knows what chance they are taking when they buy.
I agree. One day it will bite him in the ass! Until then he will continue.
Would you give up this “free” funding stream if you were a CEO????
Think about it, he does not need stockholders to be happy..... all he needs is to have people by the stock.
He makes his convertible debts and then completes a large reverse split. Eliminating most stockholders positions and the debt holders convert at low share ratios and then flood the market.
They make much more than they would on a standard loan product.
Debt gets paid and the process can start over again.
This funding method has practically no cost to the company and is like an unending line of credit.
Tell me, would you give up an unlimited flow of funds like this???
I do not agree with this manner but it is legal and we all can read the disclosures.
I have not looked that deep into the documents.
The shares set aside for the CEO’s preferred shares cannot be sold unless the CEO converts and sells.
True. But you must reduce by the 54.5% that are set aside to cover the CEO’s preferred shares.
Only leaves 45.5% available to be sold.
Incorrect my friend. 54.5% is the amount of common shares set for the CEO’s preferred shares. He has voting rights on that number of shares. You take 45.5% of the total authorized shares and gives the total number that can be sold. Reduce that by the outstanding shares on the 8k and you have the net remaining shares available to be sold.
Only way to be able to sell more will be to increase the authorized number or for the CEO to convert his preferred shares (then his ownership percentage and control would be in jeopardy) and sell them.
$178,111.74 will buy all these. Any takers???????
That means that they only have 1,781,117,343 shares left to sell to load all eligible authorized shares.
I agree with you! But, he cannot be removed unless there is illegal action that will bring in the feds.
Until then, he will continue with his method of financing his ventures.
As I said in my prior message, people will continue to buy this stock. So, his financing will continue.
Please tell me why the CEO would choose to abandon his R/S cycle? He has a very cheap source of funds with the R/S cycle.
The company can sell stock, many will buy for their own reasons, to raise money for expansions without the worry of default. Regardless of the process-direct or indirect selling of stock or convertible notes-the company has a way of funding ventures and we have no way of stopping the cycle.
What CEO in the world would give up this unlimited supply of funding? His position is sealed at 54% as long as he does not convert his preferred stock and he remains the major stockholder. He can pass any action with no one to stop him.
His concern is not for the shareholders as they will always be there in hope of a run.
The only way to bring down his house of cards is for everyone to stop buying! This will never happen and he knows that!!!
Keep in mind..... at least 54% of the authorized shares cannot be sold. These are the shares that are bound by the CEO’s preferred shares.
No more than 46% can be sold publicly. 4.6 Billion shares is the highest the O/S that can happen unless the company authorizes more shares to be issued.
I agree my friend! My assumption is, with any plan of action or investment, that Dan Bates step down.
Several of us here have voiced the same plan of action for years with a few differences. The main goal should be to get investors interested in WSTI and get the funding to move the company. Several have been interested but no one is willing to pitch in the kind of money needed without good, audited financials.
We will have to find people who are willing to invest in WSTI as a startup now! We need to get the money to completely revamp this company. Including new management!!!
BUT....... We need to grow separate from impact! WSTI needs to be able to stand on her own two feet as a separate business. We could still do the installations and financing and revenue entering as is proposed through Impact but without the extra baggage.
This way, we can structure the energy purchase system in a way that would benefit WSTI and her stockholders plus we could still serve the areas that do not have good electric service and help build these areas.
With this move we would be a “ household” name in many more areas!
Have you heard from WSTI Dan? I messaged him concerning the legal and attorney, but I have not received a response.
I agree with you blizzld. Going private would not be a good thing!
My point was, if nothing is done that is where we will land by default.
We cannot stay on greys for long. The SEC will remove the ticker. No listing, no trading, no public company.
We must do the work if we want this company to return! IMO, the correct leadership has no interest or has no intentions to do what is needed.
Do not get me wrong, I want this stock to fly. I have invested too much time and money to just sit by and try nothing.
Everyone here wants that ONE someone else to fix this company. That will never happen! Unless someone with is able to step up and bankroll the entire rebuild and restructure of this company we will soon go private. We will still own our shares but they will be very difficult to trade. Pretty much a one on one match to trade paper for money.
If people here truly want this company to turn around, everyone will have to come together and finance the corrections! This will include finding executives who will properly operate the company to take advantage of the business that out there.
As long as we wait on one or two people to find the “savior” of our company, it will never return!
Without updated financials, large investors are impossible to find!
I guess we all just took a dry one without even a hug!!!!!!