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No, it wasn't.
It was a ticker reset and just printed a pending trade from before it was halted.
The halt code is still at T1. It has to go to T3 (and T2 before that) and they have to publish a trade resumption time, before this can trade.
But, yes, looks like it "may" be getting ready to trade next week. That 82K looks like a pending trade from last Friday before it was halted and the ticker is only now catching up.
umm...that's what happens to every stock, after the market closes (including after hours trading).
This is piqueing my interest as well......
And this halt is very unusual. It didn't happen this way with either ABK or even Lehman. And those were both NYSE listed stocks as well.
$$$$$ or *&^%$ !! hell!
Companies that make "sweeping moves across the planet" don't list on pinksheets. Give me one example of another pink sheet company that has made a "sweep across the planet" move.
It's "Dude"...dude.
"THEY CAN BECOME WORTH BILLIONS IN WHAT SEEMS LIKE OVERNIGHT"
No. Doesn;t quite work like that.
hey there. Yeah..I was taking a break from trading. :)
Do you really think a noname PINK sheet company can acquire PENTHOUSE and not make front page news??
duh.
Reverse split.
Oh yeah, the chart is very very nice..
Don't wanna say anything, but this company is not showing signs of going into bankruptcy. Not even one bit.
I have a strange feeling about this one.
I called their number from the website and was greeted very professionally by a girl. Good sign.
Having browsed their sites and their product portfolio, it doesn't look too shabby.
Given that last 8K filing about hiring their officers back, I suspect something fishy is afoot. I just dont know what.
we'll see.
In English maybe??
It's actually a 75% drop...
drops can never be more than 100%..
basic math..
You are still a freakin baby when it comes to trading.
Buy outs/mergers etc and a company's evaluation is based on the O/S not float. The float is just the publicly traded shares.
Go back to your calculator.
This is one of those rare moments when you actually speak the truth... Why do you think I bought this POS today??
tee hee...
You mean me?? <grin>...
I did pick up a few today, the chart looks good for a bounce.
which is why it has dropped the last 2 days. Let's see what happens.
Wednesday, April 18 2007 11:53 AM, GMT-05:00
--------------------------------------------------------------------------------
The BigHub.com, Inc. receives position reports from Depository Trust Company
PR Newswire "US Press Releases "
JENSEN BEACH, Fla., April 18 /PRNewswire-FirstCall/ -- The BigHub.com, Inc. (Pink Sheets: BHUB) received position reports from the Depository Trust Company confirming the "uncertified" share position provided by Select American Transfer Company. "This third party confirmation comes directly from the Company that facilitates the clearing of 100% of the share transactions between brokers. Additionally, they are the custodian of all of the BHUB shares held in 'street name,'" stated Darrell Peterson, interim President. He went on to further state, "Any illusion created by Select by virtue of their previous press releases that we were misleading or false in our reporting to shareholders should now be put to rest."
Additionally Mr. Peterson reported that, "We are now working quickly to file actions against parties whom we believe have acted in a reckless and illegal manner, depriving BHUB and its 'shareholders' the ability to conduct business at this exact time." Mr. Peterson continued, "Based on the information received and investigated by the Company we are proceeding with our goal to file an action in Federal Court against all parties involved in the scheme."
As previously announced, The BigHub.com, Inc. was informed by Select American Transfer Company that there were currently 1,580,847,798 shares issued by them and that those shares issued were 1.53 billion shares in excess of the legal authorized shares of the Company. The Company states that these shares are unauthorized shares and unregistered with the Securities and Exchange Commission as required under the Act.
The Company previously announced that it has engaged Olde Monmouth Stock Transfer, Inc. to handle its authorized stock transfers.
The Big Hub.com, Inc. (Pink Sheets: BHUB) will continue to review potential business ventures or acquisitions during this process.
SOURCE The BigHub.com, Inc.
There's nothing that I can explain that will make you understand this. My previous statements were very clear. Split AT that price $100 or $.01. I never said that's the post split price.
I'm assuming you mean 1.5 BILLION, not million, but yes, that is correct, that the PR states that the tender offer will be for ALL "unregistered shares". However, that is where it gets confusing.
Who owns "registered" shares and who owns "unregistered" ?? ANd the 8K doesn't mention 1.5 Billion (or million). It just says ALL. SO, how many ARE out there?
From the 8K:
On April 13, 2007, the Registrant's principal shareholder, Yucatan Holdings, issued a press release announcing that it had brokered a deal in principle between The BigHub.com, Inc. (Pinksheets: BHUB - News) and Techlabs, Inc. (OTCBB: TELA - News). Techlabs, Inc. plans to forward split its shares one hundred to one and to tender for all unregistered shares issued to investors of BHUB on a one for one basis. A copy of this press release is hereby incorporated by reference and furnished as part of this Current Report as Exhibit 99.5.
Okay, lemme recap, since this question comes up almost on a regular basis every few hours. Lemme see if I get it correct (for the most part), if I'm wrong on something, feel free to correct me.
- Based on the PR and the 8K filing from TELA, TELA is going to make a tender offer for all outstanding BHUB shares, and exchange them for TELA shares.
- BEFORE doing the above, TELA WILL forward split 1-100. AT what price it splits is yet to be determined, either by the market, or the valuation of TELA. NO ONE knows what that price will be at this point. It could be $100, or .01 (yes it COULD be .01).
- The time frame for all this as per DP on tradersnation, is roughly 60-90 days. It could be less or more.
- Yes, the SEC/NASD/DTCC can potentially screw around with TELA as well and shut/halt/suspend them as well.
- TELA IS Yucatan aka BHUB, they are one and the same.
While I concede that both you (legal) and Art have their viewpoints and both are correct for the most part, I fail to see where this bantering is going. If it's just to kill time, knock yourself out. If not, hello!! there are other stocks, and the market is still trading! What are we doing here, trying to prove that one of you has a bigger ___? (metaphorically speaking of course, since legal is a girl).
haha. Good move Art. There ya go legal.
I doubt it (even though it COULD happen). The Ask has been fairly steady, they have been trying to get people to sell by dropping the bid support. Why do you think there's a 25% spread right now? They don't want you to hit the Ask, because they can sell 100 shares a second later, and you'll be down 25%.
My funds from last week are all cleared. And I sold 30M through Ameritrade the day before the halt.
Well, you have one TELA shareholder right here... (me). However, that 35 count is way old, when the O/S was supposed to be 800K. It's 22M now, so obviously the number of shareholders is much higher now as well.
sigh.
I love the way women talk about stocks...
Sigh...read your post again. You said the O/S was 200M. That's the A/S.
You guys make me laugh.
Learn how to read filings properly, and understand the terminology, before making statements like this.
TELA has a 200M A/S That's AUTHORIZED SHARES. Based on pinksheets etc, it has an O/S, that's OUTSTANDING SHARES (meaning, out of the 200M authorized shares, only this much have actually been issued) of 815K. But we know that is not correct, since there are filings that disclose additional shares being converted into common stock. The O/S right now IS around 22M. That's OUTSTANDING shares. Get it?
When a company does a reverse split, the A/S usually doesn't need to be changed, because the resulting number of shares is less. When a company forward splits, the A/S (depnding on what it is and how the capital structure of the company is setup, may need to be changed to accomodate the new shares.
In this case, given the way the capital structure is setup, they "may" (And I'm still checking on this part) not need to change the A/S. Why? Because if anybody is looking at the A/S for the common stock, they should also be looking at the A/S for the preferred shares and the conversion ratio. In this case they have enough preferred shares that they can convert to common stock.
It remains to be seen how many preferreds they convert, but the O/S POST split, WILL be in the 2.2B range, given the 22M common stock O/S right now.
Here's how Yucatan profits from the deal (I believe).
Yucatan IS TELA. For the most part.
from TELA's latest 10QSB. http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0001161697-06-001109&Type=HTML
The Company's authorized capital consists of:
a. 200,000,000 shares of common stock, par value $.001 per share, of which 815,464 and Shares were issued and outstanding at September 30, 2006.
b. 10,000,000 of preferred stock, par value $.001 per share, of which no shares are issued and outstanding;
c. 25,000,000 shares of special preferred stock, par value $.001 per share, of which 12,500,000 shares have been designated Special Class A Preferred Stock, all of which are outstanding. Of these shares, 8,330,000 shares are held by the Company's principal shareholder, Yucatan Holding Company, and the remaining 4,170,000 shares are held by Thomas J. Taule, the Company's former CEO and member of its board of directors. The designations, rights and preferences of the Special Class A Preferred Stock provide:
* the holders are not entitled to receive any assets in the event of the liquidation or wrap up of the Company;
* each share of Special Class A Preferred Stock entitles the holder to three votes on all matters submitted to the Company's shareholders for a vote, and the Special Class A Preferred Stock votes together with the Company's common stock and its Class C Preferred Stock as one class; and
* the shares of Special Class A Preferred Stock are redeemable at the sole option of the Company, with the manner of redemption, the redemption price or prices and the terms and conditions of the redemption being determined by the Company's board of directors; and
d. 10,000,000 shares of blank check preferred stock, par value $.001 per share (the "Blank Check Preferred Stock"). Series of the Blank Check Preferred Stock may be created and issued from time to time, with such designations, preferences, conversion rights, cumulative, relative, participating, optional or other rights, including voting rights, qualifications, limitations or restrictions thereof as shall be stated and expressed in the resolution or resolutions providing for the creation and issuance of such series of Blank Check Preferred Stock as adopted by the Board of Directors in its sole discretion. The Board has designated 225,000 shares of Blank Check Preferred Stock as Class C Preferred Stock, all of which such shares are issued and outstanding and held by the Company's principal shareholder, Yucatan Holding Company. The designations, rights and preferences of the Class C Preferred Stock include:
* the stated value of each share is $ 0.001,
* the shares are not redeemable without the consent of the holders of a majority of the issued and outstanding shares of Class C Preferred Stock,
* each share of Class C Preferred Stock is convertible into shares of the Company's common stock at the option of the Company at a conversion price to be established by the holder and the Company at the time of conversion,
* the shares of Class C Preferred Stock do not pay any dividends,
* each share of Class C Preferred Stock entitles the holder to 150 votes on all matters submitted to the Company's shareholders for a vote, and the Class C Preferred Stock votes together with the Company's common stock and its Special Class A Preferred Stock as one class, and
* so long as the shares of Class C Preferred Stock are outstanding, the Company will not be able to take certain actions without the approval of the holders of a majority of the issued and outstanding shares, including:
- sell, convey, or otherwise dispose of or encumber all or substantially all of its property or business or merge into or consolidate with any other corporation (other than a wholly-owned subsidiary corporation) or effect any transaction or series of related transactions in which more than 50% of the voting power of the Company is transferred or disposed of;
- alter or change the rights, preferences or privileges of shares of Class C Preferred Stock;
- increase or decrease the total number of authorized shares of Class C Preferred Stock;
- authorize or issue, or obligate the Company to issue, any other equity security, including any other security convertible into or exercisable for any equity security having rights, preferences or privileges over, or being on a parity with or sto, the Class C Preferred Stock;
- redeem, purchase or otherwise acquire (or pay into or set aside for a sinking fund for such purpose) any of the Company's securities;
- amend its articles of incorporation or bylaws;
- change the authorized number of its directors; or
- declare, order or pay any dividends on any class of its securities.
I believe Yucatan will just use the Class A and Class C preferred stock to convert it into common stock and sell into the coming few weeks. This is how the air shares will be covered as well, I believe. It remains to be seen at what price does Yucatan starts converting and selling these shares. They aint no white knight, thinking only of the shareholders. They wanna make money out of this as well, and they will.
All my opinion of course.
As of right now, your shares (and mine, btw, I still have 20M BHUB) are worth nothing, since we cannot sell them. Once the share exchange goes through, they will be worth whatever the post split price of TELA is. I have a feeling we're gonna see a huge rise in the price of TELA in the next few days, and then it's gonna crash before the final exchange.
The trick wil be to determine that high on TELA and get out somewhere near it.
As I said to a lot of folks today, I DON'T know all the answers just yet. I'm trying to connect the dots just like you guys. There's quite a few filings for TELA, I'm starting to sift through them to see what's there.
But one thing "seems" clear to me. BHUB should cease to exist. Each share of BHUB will be exchanged with a post forward split share of TELA. The number of BHUB shares that are exchanged with TELA shares...is well..that's the million dollar question. There is no way of determining whether a share in the market is an "unregistered" share or a "naked shorted" share. There's either real or fake and the fake includes both of the above. For the real shares, the brokers and/or the individuals holding them, can back them up with certs, the fake one's are well, fake.
If the 21M O/S for BHUB is what we consider, well that doesn't work, because the PR today points to the "unregistered" shares being tendered as well. According to PRs from BHUB, there were approximately 1.5B unregistered shares. Someone here said the O/S for TELA is 22M and would be 2.2B post split. I don't know where that number came from. Everywhere I have looked I get ~820K O/S. There's an S-8 from last Dec that apparently registered 2M shares, but even then, the O/S post split would only be 200M.
So, I'm as confused as all of you. Hopefully I'll get some time over the weekend to untangle some of this mess.
I don't know the answer to that just yet. Still trying to connect some dots.
I was one of the one's who sold. And at a profit even then. And I bought TELA today when the PR came out. Got shares at .20. It's at .35 right now. I believe that's not "getting screwed".
The A/S is 200M shares. That will not change post split.
There's about 815K shares O/S right now. They will forward split to ~82M shares or so.
The float right now is 430K or so. The float will be ~43M or so, post split.
This is as per the info that's availble right now, based on their last 10QSB.
Bingo. And so is Ameritrade. I have a sizeable portfolio with them and been trading with them for almost 10 years now. And they were not showing ANY halts on the stock that day. They reverse it, me and my lawyer make a lot of money, and I think they know it.