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Strong volume 1 million+ shares for the day. All day long 50k and 100k blocks were sold and MM ASCM trying to control price. The $0.30 mark looks to be pivot point, either resistance or support next days should provide more info
Well stated.
But why are longtime investors still here? Maybe some tidbits/facts
MRGE started October BELOW $0.20
Yes it traded 100% higher to hit $0.40 and yes that anticipation excitement balloon popped and MRGE price “cratered” down below $0.30...
Today end of the same month of October price is around $0.30, that’s a cool 50% higher compared to beginning of the month! Maybe that’s why longtime investors are still here!
Sure you can trade the hype and get all upset about delays and stressed out about big down days .... BUT you could also check in ONCE a month and say cool MRGE is up 50%
Despite the last anticipation hype NOT working out and traders selling positions the price stepped higher and builds a higher base, that’s important
It will take longer than we think BUT believe the project will ultimately be an amazing success! Go MRGE
Since reopening Tempe SnL has had NOT one single case of Covid among its employees or customers
Own DD! You do yours
OXFORD BANK CORPORATION ANNOUNCES THIRD QUARTER 2020 OPERATING RESULTS
OXFORD, Mich., Oct. 28, 2020 /PRNewswire/ -- Oxford Bank Corporation ("the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), today announced profitable operating results for the third quarter and year-to-date period ended September 30, 2020.
Oxford Bank - Oxford, MI (PRNewsfoto/Oxford Bank Corporation)
The Company's quarterly consolidated earnings for the three months ended September 30, 2020, were $1,594,000, or $0.69 per weighted average share compared to $1,554,000, or $0.68 per weighted average share for the same period one year ago. Year-to-date consolidated earnings were $4,750,000 or $2.07 per weighted average share for the nine months ended September 30, 2020 compared to $3,660,000 or $1.60 per weighted average share for the nine months ended September 30, 2019.
Total Assets of the Company decreased from the prior quarter to $723.8 million as of September 30, 2020, as the company paid down its Paycheck Protection Liquidity Facility with the Federal Reserve. This compared to $476.9 million as of September 30, 2019, representing a 52% increase year-over-year, owing to the Company's participation in the SBA PPP program. The Company increased loans outstanding to $566 million at the end of September 2020 compared to $328 million a year earlier. Deposit balances from customers increased 38% year-over-year and totaled $593 million as of September 30, 2020, compared to $429 million as of September 30, 2019.
The Company's total stockholders' equity increased to $52.6 million as of September 30, 2020, representing book value per share of $22.7, compared to total stockholders' equity of $45.0 million, or $19.67 per share one year earlier. The subsidiary Bank's Tier 1 capital totaled $51.0 million as of September 30, 2020, or 14.5% of risk weighted assets compared to $44.7 million, or 11.9% of risk weighted assets as of September 30, 2019.
"In the third quarter, we began the transition towards the SBA forgiveness piece of the Paycheck Protection Program ("PPP") loan portfolio" noted David Lamb, President and CEO. "Due to our overwhelming success in helping over 1,300 businesses with the PPP, we partnered with an outside vendor to assist with processing the forgiveness applications. Leadership made that decision to ensure the significant value and goodwill created with our existing customers plus the approximately 800 new clients, was not lost due to a poor forgiveness experience at least the part we can control. In addition, we need to capitalize on the growth opportunity in a disciplined way so need our team engaged in their primary roles of growing relationships. There have been multiple changes to the rules and process of forgiveness so expect that burden, and recognizing unamortized fee income, will stretch into 2021."
Lamb continued "Net income in the third quarter benefitted by the amortization of the SBA origination fees on the PPP portfolio although offset somewhat by the reduced activity in our SBA and conventional business lending. The Bank also continues to provision to the ALLL because of the still high level of uncertainty. Management will continue to review and analyze appropriate level of reserves as asset quality metrics don't justify levels today. Operating expenses continue to decline due to work over the past several years as well as our team continues to work remotely where possible to continue to protect our team and customers from the pandemic affects as much as possible. Our team absolutely looks forward to the remainder of 2020 and 2021 with full knowledge that there are big challenges and uncertainty (not quantifiable today), looming around margin compression and asset quality."
Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking centers in Brighton, Farmington Hills, Owosso, and in downtown Oxford. The Bank has operated continuously under local ownership and management since it first opened for business in 1884. For more information about Oxford Bank and its complete line of financial services, please visit www.oxfordbank.com.
https://www.oxfordbank.com/about-us/oxford-bank-news.html
Actually I believe that the document signing last night at the event was a BIG hurdle taken for the entire project IMO
You are talking Mexico and AMLO and can’t announce project builders & contracts BEFORE you have the indigenous tribes / people support & agreement
Easy 15% flip this morning!
Nothing wrong with that
LOL
Place your bets
And let’s not argue about different approaches/expectations or ideas
If you are @ roulette table you don’t start an argument with co players if they place a bet on a different number than yours either
That’s what the market is for!
It accommodates short term traders & long term investors. You have daily a liquid market to adjust to your personal risk Profil in anticipation of company specific news or stock price swings.
No need to argue. Every printed trade represents a match between buyer & seller so obviously 2 opposite agendas/opinions or strategies
My risk assessment would be down ~10cents to MA (50) support @ $0.237 for the total disappointing scenario
OR
Blue sky breakout and prices north of $0.45 cents with positive mention or new catalysts
Close to 1 million share volume in 1st hr of trading! Volume BEFORE price
Big boys got to position themselves first ;)
Agree
Buying/adding here
MM ASCM sat on BID a lot prob indicates covering action during this drop ....
Easy display of MM pricing & Level 2 is Ameritrade “thinkORswim” platform
FYI Ameritrade now part of Charles Schwab
Min order size for orders to show up on order displays
New player MM ASCM in full control of MRGE price action
Need some of yesterday’s buying volume to stop this MM ASCM positioning
Yesterday’s trading action “strong early buying volume followed by strong bids supporting price”
It’s still ONLY anticipation of good/excellent news event coming so we are talking “positioning of players”
Of course “our group” here is highly confident based on excellent DD BUT this morning MM ASCM pops up shows another player positioning or taking notice. MM ASCM mostly shorts unusual “jumps” in stock prices, maybe today trying to establish short position (looking at prior price spikes in this range)
BUT then MM ASCM is close to high BID price which could indicate “short position covering” which could become explosive
Either way, don’t want to leave too many opening gaps in our chart, except the HUGE breakaway gap AFTER official news PR of course
MM CSTI has been most active buyer last couple days and still active buyer today
No depth to MM OTCX or MM INTL sell orders and $0.32 taken out....
Excellent strength and continued buying @ ASK
MM OTCX and MM INTL left @ $0.32
Those had previously had bigger orders for sale with only showing smaller amounts (iceberg sell orders) so be interesting to see what they are showing & what’s for sale total....
It will go quick IMO
Next target resistance is $0.32 with MMs lining up with bigger orders and where MM OTCX sits as well!
Any interested buyer of size would like to buy those blocks ;)
Magnet pulling to $0.32
Strong early buying volume with continues strong Bids refreshing!
If MM CDEL would stop dropping 50k sells like candy $0.30 be long gone BUT good chance $0.30 breaks
FYI added shares this morning to an overflowing full bucket
Fully agree with all risk factors you list.
Investing is all about risk/reward and of course good DD & luck
Still believe there is a REAL chance for us here and if it’s a buyout then this group here will have to deal with the mountain of cash problem without risk free / low risk Returns available
Either way, let’s focus on current day and continuous DD here
Nothing wrong with your post/experience.
First my post said we be talking $1s as in multiples and second I am NOT talking MOMO traders spikes!
With regard to Blue Bell & financing.... they are essentially an agent for RICH/VERY RICH private & institutional clients... so if/when MRGE expands their footprint in Mexico thus expanding cash flow generation - BLUE BELL will be glad to structure another partnership and provide funding!
Cash & money earn NOTHING in treasuries so it needs a home with attractive ROI and that where MRGE provides Blue Bell with a great opportunity
MOMO share price movements as in spikes $3-$7 (your words) I would gladly accept to sell a trading position
Longterm looking NOT for a buyout BUT rather for a cash flow machine providing shareholders with a nice dividend or other form of return of capital.
Could there be some JV coming with major pipeline operators like Enterprise Product Partners (EPD), Energy Transfer (ET) or large Canadian outfit, possible
How pretty would current shareholders sit with $0.28 priced shares when MRGE pays $0.05/qtr dividend?
Do the math, lifelong retirement cash flow coming in ;)
IMO
Another LOI would provide further validity to MRGE projects and furthermore EVEN EXPAND the scope current investors thinking and modeling of MRGE footprint & cash flow generation
Don’t forget the last LOI was sent out during a note liquidation period where average volumes approached 1.2million shares/day
Without that selling supply and the much tighter share structure now I believe another LOI could do wonders ;)
At the current rate this seller/block be long gone after today.
Little frustrating on a low volume day to see seller pushing down block BIGGER than total daily volume currently down MRGE throat
Without any news there is good support $0.25 & $0.26 from recent breakouts and MA (50) sits below @ $0.229
ANY announcement from MRGE (just say hi we are alive and real & working with Mexican administration bla bla bla...) and MRGE could easily spike through $0.32 IMO
Any REAL announcement, like LOI to provide xx MMcf/day to say state of Guanajuato and BOOM MRGE looking @ blue skies above $0.4445 June high
ANY FULL fledged PR or 8k re financing, receipt of funds, official Isthmus Corridor project announcement, any AMLO confirmation of MRGE projects or maybe even TRUMP presidential order for pipeline international border crossing permit.... and we are talking $1s not pennies anymore
101,800 Block prices lower @ $0.28 now 73,700 left
MM OTCX was also sitting with 100k sell @ $0.30 ASK yesterday BUT is still there NO CHANGE!
Under $0.30 L2 shows 5 MMs with small minimum ask placers, earlier another 40k order showed so probably still there
BUT market price of MRGE today moved with the MM ETRD pricing of this leftover ~100k block
Without news no rush incentive for buyers to step up so expect slow bleed lower IMO
Agree! Cheers
All you have is profit taking, yesterday MM ETRD had 150k order to sell @$0.30, later in the day moved it lower to $0.295.
Once a “relative large” sell order gets lowered within short time (hours) that order gets flagged as motivated seller! Buyers will step away and just keep waiting for this seller to lower his price again.
Same MM ETRD now with “only” 101,800 shares left (of same sell order from yesterday) just lowered asking price again $0.29
Now you will wake up all MMs that will hit the BID and put up little lower ASK prices and keep enticing the “big order” to keep lowering the sell price! Games begin ;)
All this changes in a split second of a buyer steps up and buys that above mentioned block, OR news PR hits! So it’s a game of chicken who will move first and how low will the ask block gets prices before it will be taken out.
Solera National Bancorp Announces Third Quarter 2020 Financial Results
Company Release - 10/22/2020 9:00 AM ET
Second consecutive quarter with record-setting earnings. ROAA tops 2% for the quarter and NIB deposits surpass $200 million.
LAKEWOOD, Colo., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Solera National Bancorp, Inc. (OTC:SLRK) (“Company”), the holding company for Solera National Bank (“Bank”), a business-focused bank primarily serving the Denver metropolitan area, today reported financial results for the third quarter and nine months ended September 30, 2020.
Highlights for the quarter and nine-months ended September 30, 2020 include:
-Third quarter 2020 net income eclipsed the prior-quarter’s record-setting net income, growing 70% to $2.12 million, compared to $1.25 million for second quarter 2020.
-YTD net income is up 52% at $4.09 million for the nine-months ended September 30, 2020 compared to $2.69 million for the nine-months ended September 30, 2019.
-Cost of funds improved to 27 basis points for the third quarter; year-to-date costs of funds have improved over 50% from 2019 going from 78 basis points for the nine-months ended September 30, 2019 to 36 basis points for the nine-months ended September 30, 2020.
-Robust quarterly growth in traditional gross loans, which rose $18.58 million during the third quarter to $238.40 million, as of September 30, 2020.
-Noninterest-bearing deposits continued their steady upward trajectory, growing $22.62 million during the third quarter to $210.50 million at September 30, 2020.
-Asset quality measures weakened during the quarter as more loans were put on watch given the current economic uncertainty. As of September 30, 2020 criticized assets represent 5.4% of total assets, compared to 3.5% as of June 30, 2020 and 3.6% at September 30, 2019.
-Return on average assets was 2.12% for third quarter 2020 and a healthy 1.58% for the nine-months ended September 30, 2020.
-Return on average equity was 18.95% for the third quarter 2020 compared to 11.71% for the second quarter 2020 and 12.70% for the nine-months ended September 30, 2020.
For the three-months ended September 30, 2020, the Company reported net income of $2.12 million, or $0.51 per share, compared to net income of $1.25 million or $0.30 per share, for the three-months ended June 30, 2020, and net income of $952,000, or $0.23 per share, for the three-months ended September 30, 2019. The third quarter results included $355,000, or $0.09 per share, in provision expense compared to $504,000 for the linked-quarter and $79,000, or $0.02 per share, for the three-months ended September 30, 2019.
For the nine-months ended September 30, 2020, the Company reported net income of $4.09 million, or $0.98 per share, compared to $2.69 million, or $0.66 per share, for the nine-months ended September 30, 2019. The year-to-date 2020 results were hindered by $1.37 million, or $0.33 per share, in provision expense compared to $162,000, or $0.04 per share, for the nine-months ended September 30, 2019. However, the year-to-date 2020 results were bolstered by $1.16 million, or $0.28 per share, in gains on the sale of investment securities compared to $165,000, or $0.04 per share, for the nine-months ended September 30, 2019.
Martin P. May, President and CEO, commented: “The challenges of 2020 have required our team to adjust quickly to unprecedented market conditions. Thus far, we have been able to identify opportunities that have allowed us to deliver solid results. However, the pandemic has caused headwinds for numerous clients. Those in the hospitality industry have been hit especially hard. These uncertainties have required us to increase our reserves. We continue to work closely with our clients to help them through these trying times.”
Operational Highlights
Net interest income after provision for loan and lease losses was $3.02 million for the quarter ended September 30, 2020 compared to $2.55 million for the quarter ended June 30, 2020 and $2.30 million for the quarter ended September 30, 2019. Net interest income after provision for loan and lease losses for the nine-months ended September 30, 2020 of $7.76 million increased $1.16 million, or 18%, from the same prior year period despite the $1.20 million increase in provision expense during this time. The increase in the provision for loan and lease losses during the nine months of 2020 was primarily due to the downgrading of several credit relationships as a result of uncertainty in the market caused by COVID-19.
Despite declining interest rates, loan growth has led to an $822,000, or 12%, increase in interest and fees on traditional loans for the first nine months of 2020 compared to the same period in 2019. Additionally, interest income was aided by an influx of PPP loans during the second quarter that bolstered earnings $1.04 million during the nine-months ended 2020. Further contributing to the growth in net interest income was the $348,000 decline in interest expense for the first nine months of 2020 compared to the same period in 2019 despite the $105.59 million increase in total deposits since September 30, 2019. Mr. May commented: “Revenue growth, driven by a growing loan portfolio, along with expanding low-cost core deposits, has allowed Solera to increase its net interest income, despite the low interest rate environment.”
Net interest margin fell to 3.62% for the nine-months ended September 30, 2020, a 29 basis points decline from 3.91% for the nine-months ended September 30, 2019. The decline was exasperated by the Bank’s participation in PPP loans, which have a lower effective yield than the Bank’s traditional commercial loans. The PPP loans are currently yielding 2.65%, which accounts for approximately 16 basis points of the 29 basis points decline in net interest margin year-over-year. For the third quarter 2020, net interest margin was 3.55%. Removing the impact of the PPP loans, net interest margin would have been 3.80%, only one basis point less than the net interest margin in the third quarter of 2019.
Total noninterest income in third quarter 2020 was $1.09 million compared to $483,000 and $105,000 in second quarter 2020 and third quarter 2019, respectively. The increase in third quarter 2020 was primarily due to gains on the sale of investment securities totaling $866,000 compared to $279,000 for second quarter 2020 and $11,000 for third quarter 2019. Additionally, customer service and other fees improved 59% year-over-year, from $180,000 for the nine months ended September 30, 2019 to $287,000 for same period in the current year. Additionally, other income, consisting primarily of rental income, increased $252,000 year-over-year.
Total noninterest expense in third quarter 2020 was $1.43 million, compared with $1.47 million for second quarter 2020. For the nine-months ended September 30, 2020, total noninterest expense was $4.36 million compared with $3.50 million for the same prior-year period. Compared to prior year, employee compensation and benefits increased $413,000 due to additional staffing to support franchise growth and occupancy expenses increased $171,000 due to the office building purchased in fourth quarter 2019. Other general and administrative expenses increased $271,000 as a result of higher data processing expenses due to the continued surge in new customer accounts. However, as a percentage of average assets, noninterest expenses have remained well managed throughout the Bank’s rapid growth, at 1.99% for the nine-months ended September 30, 2020 compared to 1.92% for the nine-months ended September 30, 2019. [Note: the increase in total assets due to the PPP loans has been removed for purposes of this calculation.]
The Company’s third quarter 2020 efficiency ratio (noninterest expense divided by the sum of net interest income and noninterest income) reached an impressive 39.71%. Chief Financial Officer, Melissa K. Larkin noted, “This efficiency ratio is exceptional for a community bank of our size. While we are continually mindful of controlling overhead costs, the boost to earnings from the PPP loans is aiding this result and will continue to skew the efficiency ratio for all of 2020 and into 2021. However, our team did earn this impressive result. We worked tirelessly to process over 600 loan applications and disburse over $93 million in relief funds, without increasing our staff.” The efficiency ratio for the nine-months ended September 30, 2020 was 44.78% compared to 49.76% for the nine-months ended September 30, 2019.
Income tax expense for the nine months of 2020 benefitted from the purchase of tax-exempt municipal securities in the Company’s available-for-sale investment portfolio, reducing the Company’s effective tax yield to 21.1% in 2020 from 23.9% in 2019.
Balance Sheet Review and Asset Quality Strength
Total assets of $404.68 million at September 30, 2020 increased from $395.20 million at June 30, 2020 and $277.82 million at September 30, 2019. The increase compared to the linked-quarter was primarily due the $18.58 million growth in the Bank’s traditional loan portfolio, partially offset by a reduction in investment securities, for bonds that were sold during the third quarter 2020. Total asset growth from September 30, 2019 to September 30, 2020 consisted of PPP loans ($93.37 million), a 24% expansion in traditional loans ($45.65 million), additions to the investment portfolio ($18.75 million) and the acquisition of an office building ($6.68 million) purchased in fourth quarter 2019.
Net traditional loans, after allowance for loan and lease losses, were $233.51 million at September 30, 2020 compared to $215.43 million at June 30, 2020 and $189.74 million at September 30, 2019. Net loan growth of $18.09 million during the third quarter of 2020 was driven by commercial loan originations of $24.06 million partly offset by payoffs, pay downs and an increase in the allowance for loan losses totaling $5.97 million. For the nine-months ended September 30, 2020, the $21.49 million expansion in net traditional loans consisted primarily of commercial loan originations totaling $45.26 million, a net decrease in student loans of $1.08 million and payoffs, pay downs and an increase in the allowance for loan losses totaling $22.69 million. Additionally, the Company funded 665 PPP loans during 2020 totaling $93.72 million. These loans are fully guaranteed by the Small Business Administration and were issued to provide emergency relief to small businesses while businesses were closed due to the government’s stay-at-home order. The yield on the PPP loans is substantially lower than those in our traditional loan portfolio, averaging 2.65% year-to-date, compared to 4.70% on average for our traditional loans.
The allowance for loan and lease losses at September 30, 2020 was $4.12 million, or 1.73% of gross traditional loans, compared to $3.77 million, or 1.72% at June 30, 2020, and $2.40 million, or 1.24% of gross loans at September 30, 2019. The 49 basis point increase in the allowance for loan and lease losses year-over-year was largely due to increased uncertainty surrounding loans that were granted payment deferrals at the height of the pandemic, in conjunction with an increase in criticized loans and overall growth in the loan portfolio. Total criticized assets of $21.77 million at September 30, 2020 increased compared to the linked-quarter, up $8.05 million from $13.72 million at June 30, 2020 and increased from $9.94 million at September 30, 2019. Despite the increase, criticized assets to total assets remain manageable at 5.38% of total assets as of September 30, 2020.
Total investment securities available-for-sale decreased $16.28 million at September 30, 2020 compared to $58.50 million at June 30, 2020 and $27.49 million at September 30, 2019. CFO Larkin noted, “The Bank capitalized on the market stress that occurred due to the global pandemic and purchased approximately $30.0 million in municipal bonds at relatively cheap prices in March 2020. We then sold approximately 70% of those bonds for gains totaling over $935,000 in June, July and August 2020.” Investment securities held-to-maturity increased $4.00 million during the quarter to $10.42 million, compared to $6.41 million at both June 30, 2020 and September 30, 2019. For the nine-months ended September 30, 2020, the Company realized $1.16 million in gains on the sale of $24.11 million in corporate and municipal bonds.
Total deposits at September 30, 2020 were $339.69 million compared to $340.72 million at June 30, 2020 and $234.10 million at September 30, 2019. Noninterest-bearing demand deposits of $210.50 million, which represent 62% of total deposits, at September 30, 2020 increased $22.62 million, or 12%, versus the linked-quarter, and increased $62.77 million from $147.73 million at September 30, 2019. CEO May commented: “Our team continues to execute our plan to grow core deposits, especially noninterest bearing deposits. We have focused our attention on expanding this customer base and our deposit customers will continue to drive our strategic initiatives.”
Commercial and residential loans past due have remained inconsequential for all periods presented, with the only notable past dues coming from the student loan participation pool. Approximately 8% of the Bank’s traditional loan portfolio remained on payment deferral as of September 30, 2020, down from the 29% originally granted payment deferral. These concessions were granted to provide some relief to borrowers during the COVID-19 lock-down. $2.91 million of the student loan participation pool were 30 days+ past due at September 30, 2020. This was up slightly from $2.71 million 30 days+ past due at June 30, 2020. Of the $2.91 million past due, $1.50 million were 90 days+ past due as of September 30, 2020. The student loans are backed by an approximately 97.5% guarantee of the U.S. Treasury under the Higher Education Act of 1965. This guarantee includes all principal and interest so net credit losses in this portfolio are expected to be minimal. Additionally, the Bank purchased the pool at a discount resulting in the Bank’s maximum exposure to credit losses slightly less than 1%.
Capital Strength
The Company’s capital ratios continue to be well in excess of the highest required regulatory benchmark levels. The Bank elected to adopt the community bank leverage ratio (CBLR) as allowed by federal banking agencies for qualified institutions in first quarter 2020. The CBLR provides for a simple measure of capital adequacy and is calculated by taking Tier 1 capital divided by average total assets for the quarter. Solera calculates the CBLR using Bank-only financial statements. As of September 30, 2020, the Bank’s CBLR was 11.4%, well above the required 9% minimum to qualify for using this simplified method. The growth in total assets associated with the PPP loans originated during the second quarter 2020 was the primary driver of the decline in the Bank’s CBLR year-over-year. Excluding the PPP loans, the Bank’s third quarter 2020 CBLR would have been 14.7%, a 1.4% improvement from the linked-quarter and consistent with prior year’s 14.8%.
Tangible book value per share, including accumulated other comprehensive income, was $10.75 at September 30, 2020 compared to $10.47 at June 30, 2020, and $9.64 at September 30, 2019. Total stockholders' equity was $45.98 million at September 30, 2020 compared to $43.40 million at June 30, 2020 and $39.21 million at September 30, 2019. The $2.58 million increase in total equity is primarily due to retained earnings and secondarily due to the exercise of vested stock-options.
The fair value of the Bank's available-for-sale investment portfolio has improved from a year ago due to a decline in longer-term interest rates. As of September 30, 2020, the available-for-sale investment portfolio had a gain of $549,000 compared to gains of $1.02 million and $222,000 at June 30, 2020 and September 30, 2019, respectively. The decline from the linked-quarter is primarily due to the realization of gains through the sale of securities that occurred during third quarter 2020.
About Solera National Bancorp, Inc.
Solera National Bancorp, Inc. was incorporated in 2006 to organize and serve as the holding company for Solera National Bank, which opened for business in September 2007. Solera National Bank is a community bank serving the needs of emerging businesses and real estate investors. At the core of Solera National Bank is welcoming, attentive and respectful customer service, a focus on supporting a diverse economy, and a passion to serve our community through service, education and volunteerism. For more information, please visit http://www.SoleraBank.com.
This press release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this release, which are not historical facts and that relate to future plans or projected results of Solera National Bancorp, Inc. and its wholly-owned subsidiary, Solera National Bank, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. We undertake no obligation to update or revise any forward-looking statement. Readers of this release are cautioned not to put undue reliance on forward-looking statements.
Source: Solera National Bank
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https://ir.solerabankonline.com/news-and-market-data/press-releases/news-details/2020/Solera-National-Bancorp-Announces-Third-Quarter-2020-Financial-Results/default.aspx
Considering that in person negotiations and/or in person contract signing & discussion was NOT possible OR NOT preferred during Covid 19 crisis
... and Canadians have travel restrictions in place and border crossings are still NOT possible other than by plane....
Let’s be honest and call this Chicago grand opening (on time!) simply a HUGE success & accomplishment!
There is NO rule that note holders have to sell BUT that is the business they are in!
They already made their money by converting principle + interest + (penalties In MRGE case).
Low risk for them and once they get their money back they repeat it.
So the faster they can turn around do more deals the more money they make.
Note holders don’t stick around to wait for their shares to skyrocket IMO
There could very well have been final notes selling shares too, IMO
You notice how MM OTCX for example showed 25k shares yet it took about 200k shares before MM OTCX was done selling?
High volume and Green Day’s no matter how many % up IS extremely strong for a little penny stock with any official news PR or 8k for funding yet!
Thanks for excellent reply & opinion
Andy,
What do you believe would be a Plan B if presidential permit would NOT be granted for pipeline border crossing?
Thank you
Close above $0.28 be huge!
I’m looking for a close above $0.26. It would 1.) confirm $0.25 breakout 2.) close above $0.26 is a new weekly closing high and would point to new resistance/breakout price point $0.30
Roadmap, after $0.3 break chart shows a $0.375 spike high that could present some resistance and after that looking at $0.4445 break for blue sky potential, IMO
https://stockcharts.com/freecharts/gallery.html?MRGE
In addition
MM INTL and MM PUMA are nowhere near current BIDS or ASK....
MM OTCX got taken out @ $0.25 and left the L2 raster lol
Strong buyers stepping up ;)
Always learn something new thanks appreciate the info
Thanks for the info, I will try re-read those terms
Sorry, as far as a new note you mean just recently raised money? There be 1 year time period in most notes before either cash repayment or share conversion