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I wonder how long it will take to get there if at all? I kinda hope nothing happenes till next year so that all my holdings will be considered long term.
Someone might have to start bashing the stock to get sub penny shares lol
Big blocks of shares nearly impossible to get. A buyer of the shell should be able to acquire 70% from large holders so no need for a R/s if taken over. Huge potential imo
ENZN .29 check out the recent buys by Carl Icahn and Jonathan Couchman! Couchman is very well known for utilizing NOL shells. Lots of buying lately. Huge bids in yesterday 149,000 at .26 and another 100,000 in at .24
Merger coming IMO
ENZN .29 check out the recent buys by Carl Icahn and Jonathan Couchman! Couchman is very well known for utilizing NOL shells. Lots of buying lately. Huge bids in yesterday 149,000 at .26 and another 100,000 in at .24
Merger coming IMO
ENZN .29 check out the recent buys by Carl Icahn and Jonathan Couchman! Couchman is very well known for utilizing NOL shells. Lots of buying lately. Huge bids in yesterday 149,000 at .26 and another 100,000 in at .24
Merger coming IMO
Huge 149,000 bid @ .262! Someone wants a decent block of shares
With Jonathan Couchman on board now, I predict ENZN will acquire another company so that the NOL's can be utilized.
Johnathan will make things happen. He is very well known for utilizing NOL's.
Bought some ENZN here. Another well known guy Jonathan Couchman bought in a couple weeks ago. Carl Ican owns a huge position here too
Awesome find! This could get VERY interesting!
$MYRX .063 - Great Article:
- Huge bidders trying to out bid each other. I bet they acquire a pharma company soon IMO:
MYRX - Myrexis: Cheap Opportunity On Proven Management Team
Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Thesis: Since distributing most of its assets to shareholders, Myrexis (NASDAQ:MYRX) has been left for dead despite possessing one final valuable asset-a net operating loss carryfoward. The Company is currently valued at $5.4 million, just a fraction of its $147 million net operating loss (NOL) carry forward. The Company's CEO Jonathan Couchman was brought on to monetize this asset. Since joining, Couchman has brought on a former colleague, Michael Pearce, as a director. Both men have extensive experience monetizing such assets, which could potentially generate substantial returns for shareholders uncorrelated with the market.
Background on Myrexis: On 06/30/09, Myriad Genetics spun-off its cancer research and drug development business to shareholders. After spending two and a half years and millions without much success, in February of 2012, the Company decided to suspend all pre-clinical and clinical programs and pursue strategic alternatives. Subsequently on 11/09/12, MYRX announced its plans to liquidate. However, the day the special shareholder meeting was set to take place (on 01/23/13) to vote on the liquidation, the Company announced it decided to cancel the meeting and instead declare a special cash dividend to shareholders of $2.86 per share. On that same day, the Company named Jonathan Couchman as Director, President, and CEO to pursue other strategic alternatives-namely to monetize its NOLs. After going ex-dividend on 02/19/13, the stock fell to $0.17.
Investors have abandoned the Company after it paid the dividend despite the fact that it still possesses an extremely valuable asset with a proven management team.
How to monetize NOLs: It should be noted that there are certain tax rules designed to circumvent "trafficking" of NOLs. Section 382 of the Internal Revenue Code states that if a "change in ownership" occurs the NOL would be subject to annual limitations, which would significantly reduce its value. A change in ownership occurs if one or more "5% shareholders" increase their ownership in the company by more than 50 percentage points over a three-year testing period. For instance, if a 10% shareholder increased his position in the Company to 60% (a 50 percentage point increase), the NOL would be subject to annual limitations.
Obviously with Section 382 in place, the obvious method to monetize a NOL is to acquire an asset with taxable income to offset the losses-this way, a change in ownership never occurs. The second method to monetize a NOL is to be acquired by another company. Of course, this would likely trigger a change in control, which set annual limitations on the use of the NOL. Despite the annual limitations, a company in MYRX's situation is still an attractive target for private companies looking to go public via a reverse merger. The two most obvious reasons to go public through a reverse merger are that it's faster and generally cheaper than a traditional IPO. Fortunately for MYRX shareholders, Couchman and Pearce have completed both types of transactions.
Given that the investment thesis is essentially predicated on Couchman and Pearce monetizing the NOL, it is important to get a good understanding of both people:
Couchman: Couchman graduated with a Bachelor's in Finance from Chico State and currently serves as Chairman, President, CEO, and CFO of Xstelos Holdings, Inc. (OTCPK:XTLS). Prior to that, Couchman served as Chairman, President, CEO, and CFO of Footstar, Inc. until January 2012, at which point Footstar shareholders were converted to XTLS shareholders. Couchman also previously served as director of Golf Trust of America and was involved with their liquidation and subsequent merger with Pernix Therapeutics (NYSEMKT:PTX). In addition to his various board duties, he also serves as manager of various funds/partnerships he founded including Couchman Capital LLC, Couchman Investments LP, and Couchman International Ltd.
Pearce: Pearce has served as Chairman of Pernix Therapeutics Holdings since March 2010. He also currently serves as a principal in Relevant Therapeutics LLC and is a majority shareholder in Hatteras Equity, an acquirer of distressed real estate assets in North Carolina. Acting as Chairman and CEO, Pearce led the repositioning of Golf Trust of America, Inc., which ultimately led to its acquisition (more in this later). From the mid 80s to the early 2000s, Pearce held various leadership in several technology and communications companies such as Hyundai Electronics America, Librex Computer Systems, Ventana Communications, and VocalTec Communications (NASDAQ:CALL). In addition, throughout his career, Pearce has served on the boards of various private and public companies such as Swiss Precision Corporation, Reliability, Inc., and Spatializer Audio Labs, Inc. Suffice it to say, Pearce's experience in various companies over the years affords him with an excellent network to extract value from MYRX.
As previously mentioned, both Couchman and Pearce have a proven track record for monetizing NOLs. I will now detail their prior experience in monetizing NOLs.
Golf Trust of America: As the name suggests, Golf Trust of America, Inc. (GTA) was a real estate investment trust (REIT) formed to acquire upscale golf courses throughout the U.S. On 02/28/01, after a review of strategic alternatives, GTA's Board unanimously decided to liquidate the Company. By mid 2007, GTA had sold most of its assets and was left with a very valuable $85 million NOL. In the fall of 2007, Michael Pearce was brought on the board and shortly followed by Couchman. The Company then began evaluating ways to monetize its NOL. On 10/06/09, the Company announced a plan to merge with Pernix Therapeutics , a specialty pharmaceutical company focused on pediatrics, in the form of a reverse merger. Michael Pearce was responsible for identifying and negotiating this transaction.
By the time Couchman joined GTA as director on 12/14/07, the stock traded at $2.14. Following GTA's last asset sale on 09/26/08, the stock had fallen to $1.50. By the time the merger closed, the stock hit $1.99 and surged to $5.00 the day after it closed. The overall return from the moment Pearce joined the Company (on 09/13/07) to the day after the Company closed the merger (on 03/10/10) was 150.0%. Obviously in this case, Pearce was able to extract significant value from GTA's NOLs through a reverse merger.
MYRX .063 - Great Article:
- Huge bidders trying to out bid each other. I bet they acquire a pharma company soon IMO:
MYRX - Myrexis: Cheap Opportunity On Proven Management Team
Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Thesis: Since distributing most of its assets to shareholders, Myrexis (NASDAQ:MYRX) has been left for dead despite possessing one final valuable asset-a net operating loss carryfoward. The Company is currently valued at $5.4 million, just a fraction of its $147 million net operating loss (NOL) carry forward. The Company's CEO Jonathan Couchman was brought on to monetize this asset. Since joining, Couchman has brought on a former colleague, Michael Pearce, as a director. Both men have extensive experience monetizing such assets, which could potentially generate substantial returns for shareholders uncorrelated with the market.
Background on Myrexis: On 06/30/09, Myriad Genetics spun-off its cancer research and drug development business to shareholders. After spending two and a half years and millions without much success, in February of 2012, the Company decided to suspend all pre-clinical and clinical programs and pursue strategic alternatives. Subsequently on 11/09/12, MYRX announced its plans to liquidate. However, the day the special shareholder meeting was set to take place (on 01/23/13) to vote on the liquidation, the Company announced it decided to cancel the meeting and instead declare a special cash dividend to shareholders of $2.86 per share. On that same day, the Company named Jonathan Couchman as Director, President, and CEO to pursue other strategic alternatives-namely to monetize its NOLs. After going ex-dividend on 02/19/13, the stock fell to $0.17.
Investors have abandoned the Company after it paid the dividend despite the fact that it still possesses an extremely valuable asset with a proven management team.
How to monetize NOLs: It should be noted that there are certain tax rules designed to circumvent "trafficking" of NOLs. Section 382 of the Internal Revenue Code states that if a "change in ownership" occurs the NOL would be subject to annual limitations, which would significantly reduce its value. A change in ownership occurs if one or more "5% shareholders" increase their ownership in the company by more than 50 percentage points over a three-year testing period. For instance, if a 10% shareholder increased his position in the Company to 60% (a 50 percentage point increase), the NOL would be subject to annual limitations.
Obviously with Section 382 in place, the obvious method to monetize a NOL is to acquire an asset with taxable income to offset the losses-this way, a change in ownership never occurs. The second method to monetize a NOL is to be acquired by another company. Of course, this would likely trigger a change in control, which set annual limitations on the use of the NOL. Despite the annual limitations, a company in MYRX's situation is still an attractive target for private companies looking to go public via a reverse merger. The two most obvious reasons to go public through a reverse merger are that it's faster and generally cheaper than a traditional IPO. Fortunately for MYRX shareholders, Couchman and Pearce have completed both types of transactions.
Given that the investment thesis is essentially predicated on Couchman and Pearce monetizing the NOL, it is important to get a good understanding of both people:
Couchman: Couchman graduated with a Bachelor's in Finance from Chico State and currently serves as Chairman, President, CEO, and CFO of Xstelos Holdings, Inc. (OTCPK:XTLS). Prior to that, Couchman served as Chairman, President, CEO, and CFO of Footstar, Inc. until January 2012, at which point Footstar shareholders were converted to XTLS shareholders. Couchman also previously served as director of Golf Trust of America and was involved with their liquidation and subsequent merger with Pernix Therapeutics (NYSEMKT:PTX). In addition to his various board duties, he also serves as manager of various funds/partnerships he founded including Couchman Capital LLC, Couchman Investments LP, and Couchman International Ltd.
Pearce: Pearce has served as Chairman of Pernix Therapeutics Holdings since March 2010. He also currently serves as a principal in Relevant Therapeutics LLC and is a majority shareholder in Hatteras Equity, an acquirer of distressed real estate assets in North Carolina. Acting as Chairman and CEO, Pearce led the repositioning of Golf Trust of America, Inc., which ultimately led to its acquisition (more in this later). From the mid 80s to the early 2000s, Pearce held various leadership in several technology and communications companies such as Hyundai Electronics America, Librex Computer Systems, Ventana Communications, and VocalTec Communications (NASDAQ:CALL). In addition, throughout his career, Pearce has served on the boards of various private and public companies such as Swiss Precision Corporation, Reliability, Inc., and Spatializer Audio Labs, Inc. Suffice it to say, Pearce's experience in various companies over the years affords him with an excellent network to extract value from MYRX.
As previously mentioned, both Couchman and Pearce have a proven track record for monetizing NOLs. I will now detail their prior experience in monetizing NOLs.
Golf Trust of America: As the name suggests, Golf Trust of America, Inc. (GTA) was a real estate investment trust (REIT) formed to acquire upscale golf courses throughout the U.S. On 02/28/01, after a review of strategic alternatives, GTA's Board unanimously decided to liquidate the Company. By mid 2007, GTA had sold most of its assets and was left with a very valuable $85 million NOL. In the fall of 2007, Michael Pearce was brought on the board and shortly followed by Couchman. The Company then began evaluating ways to monetize its NOL. On 10/06/09, the Company announced a plan to merge with Pernix Therapeutics , a specialty pharmaceutical company focused on pediatrics, in the form of a reverse merger. Michael Pearce was responsible for identifying and negotiating this transaction.
By the time Couchman joined GTA as director on 12/14/07, the stock traded at $2.14. Following GTA's last asset sale on 09/26/08, the stock had fallen to $1.50. By the time the merger closed, the stock hit $1.99 and surged to $5.00 the day after it closed. The overall return from the moment Pearce joined the Company (on 09/13/07) to the day after the Company closed the merger (on 03/10/10) was 150.0%. Obviously in this case, Pearce was able to extract significant value from GTA's NOLs through a reverse merger.
I was talking about the bids not the volume. There is someone bidding 300,000+ shares below the current 105,000 bid at .063
They keep raising the bid. Makes me think something may happen soon with MYRX
Would almost be nice to see sub .01 again so more people can get in at a good price
MYRX .063 - No brainer. Article:
- Huge bidders trying to out bid each other. I bet they acquire a pharma company soon IMO:
MYRX - Myrexis: Cheap Opportunity On Proven Management Team
Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Thesis: Since distributing most of its assets to shareholders, Myrexis (NASDAQ:MYRX) has been left for dead despite possessing one final valuable asset-a net operating loss carryfoward. The Company is currently valued at $5.4 million, just a fraction of its $147 million net operating loss (NOL) carry forward. The Company's CEO Jonathan Couchman was brought on to monetize this asset. Since joining, Couchman has brought on a former colleague, Michael Pearce, as a director. Both men have extensive experience monetizing such assets, which could potentially generate substantial returns for shareholders uncorrelated with the market.
Background on Myrexis: On 06/30/09, Myriad Genetics spun-off its cancer research and drug development business to shareholders. After spending two and a half years and millions without much success, in February of 2012, the Company decided to suspend all pre-clinical and clinical programs and pursue strategic alternatives. Subsequently on 11/09/12, MYRX announced its plans to liquidate. However, the day the special shareholder meeting was set to take place (on 01/23/13) to vote on the liquidation, the Company announced it decided to cancel the meeting and instead declare a special cash dividend to shareholders of $2.86 per share. On that same day, the Company named Jonathan Couchman as Director, President, and CEO to pursue other strategic alternatives-namely to monetize its NOLs. After going ex-dividend on 02/19/13, the stock fell to $0.17.
Investors have abandoned the Company after it paid the dividend despite the fact that it still possesses an extremely valuable asset with a proven management team.
How to monetize NOLs: It should be noted that there are certain tax rules designed to circumvent "trafficking" of NOLs. Section 382 of the Internal Revenue Code states that if a "change in ownership" occurs the NOL would be subject to annual limitations, which would significantly reduce its value. A change in ownership occurs if one or more "5% shareholders" increase their ownership in the company by more than 50 percentage points over a three-year testing period. For instance, if a 10% shareholder increased his position in the Company to 60% (a 50 percentage point increase), the NOL would be subject to annual limitations.
Obviously with Section 382 in place, the obvious method to monetize a NOL is to acquire an asset with taxable income to offset the losses-this way, a change in ownership never occurs. The second method to monetize a NOL is to be acquired by another company. Of course, this would likely trigger a change in control, which set annual limitations on the use of the NOL. Despite the annual limitations, a company in MYRX's situation is still an attractive target for private companies looking to go public via a reverse merger. The two most obvious reasons to go public through a reverse merger are that it's faster and generally cheaper than a traditional IPO. Fortunately for MYRX shareholders, Couchman and Pearce have completed both types of transactions.
Given that the investment thesis is essentially predicated on Couchman and Pearce monetizing the NOL, it is important to get a good understanding of both people:
Couchman: Couchman graduated with a Bachelor's in Finance from Chico State and currently serves as Chairman, President, CEO, and CFO of Xstelos Holdings, Inc. (OTCPK:XTLS). Prior to that, Couchman served as Chairman, President, CEO, and CFO of Footstar, Inc. until January 2012, at which point Footstar shareholders were converted to XTLS shareholders. Couchman also previously served as director of Golf Trust of America and was involved with their liquidation and subsequent merger with Pernix Therapeutics (NYSEMKT:PTX). In addition to his various board duties, he also serves as manager of various funds/partnerships he founded including Couchman Capital LLC, Couchman Investments LP, and Couchman International Ltd.
Pearce: Pearce has served as Chairman of Pernix Therapeutics Holdings since March 2010. He also currently serves as a principal in Relevant Therapeutics LLC and is a majority shareholder in Hatteras Equity, an acquirer of distressed real estate assets in North Carolina. Acting as Chairman and CEO, Pearce led the repositioning of Golf Trust of America, Inc., which ultimately led to its acquisition (more in this later). From the mid 80s to the early 2000s, Pearce held various leadership in several technology and communications companies such as Hyundai Electronics America, Librex Computer Systems, Ventana Communications, and VocalTec Communications (NASDAQ:CALL). In addition, throughout his career, Pearce has served on the boards of various private and public companies such as Swiss Precision Corporation, Reliability, Inc., and Spatializer Audio Labs, Inc. Suffice it to say, Pearce's experience in various companies over the years affords him with an excellent network to extract value from MYRX.
As previously mentioned, both Couchman and Pearce have a proven track record for monetizing NOLs. I will now detail their prior experience in monetizing NOLs.
Golf Trust of America: As the name suggests, Golf Trust of America, Inc. (GTA) was a real estate investment trust (REIT) formed to acquire upscale golf courses throughout the U.S. On 02/28/01, after a review of strategic alternatives, GTA's Board unanimously decided to liquidate the Company. By mid 2007, GTA had sold most of its assets and was left with a very valuable $85 million NOL. In the fall of 2007, Michael Pearce was brought on the board and shortly followed by Couchman. The Company then began evaluating ways to monetize its NOL. On 10/06/09, the Company announced a plan to merge with Pernix Therapeutics , a specialty pharmaceutical company focused on pediatrics, in the form of a reverse merger. Michael Pearce was responsible for identifying and negotiating this transaction.
By the time Couchman joined GTA as director on 12/14/07, the stock traded at $2.14. Following GTA's last asset sale on 09/26/08, the stock had fallen to $1.50. By the time the merger closed, the stock hit $1.99 and surged to $5.00 the day after it closed. The overall return from the moment Pearce joined the Company (on 09/13/07) to the day after the Company closed the merger (on 03/10/10) was 150.0%. Obviously in this case, Pearce was able to extract significant value from GTA's NOLs through a reverse merger.
MYRX .063 - No brainer. Article:
- Huge bidders trying to out bid each other. I bet they acquire a pharma company soon IMO:
MYRX - Myrexis: Cheap Opportunity On Proven Management Team
Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Thesis: Since distributing most of its assets to shareholders, Myrexis (NASDAQ:MYRX) has been left for dead despite possessing one final valuable asset-a net operating loss carryfoward. The Company is currently valued at $5.4 million, just a fraction of its $147 million net operating loss (NOL) carry forward. The Company's CEO Jonathan Couchman was brought on to monetize this asset. Since joining, Couchman has brought on a former colleague, Michael Pearce, as a director. Both men have extensive experience monetizing such assets, which could potentially generate substantial returns for shareholders uncorrelated with the market.
Background on Myrexis: On 06/30/09, Myriad Genetics spun-off its cancer research and drug development business to shareholders. After spending two and a half years and millions without much success, in February of 2012, the Company decided to suspend all pre-clinical and clinical programs and pursue strategic alternatives. Subsequently on 11/09/12, MYRX announced its plans to liquidate. However, the day the special shareholder meeting was set to take place (on 01/23/13) to vote on the liquidation, the Company announced it decided to cancel the meeting and instead declare a special cash dividend to shareholders of $2.86 per share. On that same day, the Company named Jonathan Couchman as Director, President, and CEO to pursue other strategic alternatives-namely to monetize its NOLs. After going ex-dividend on 02/19/13, the stock fell to $0.17.
Investors have abandoned the Company after it paid the dividend despite the fact that it still possesses an extremely valuable asset with a proven management team.
How to monetize NOLs: It should be noted that there are certain tax rules designed to circumvent "trafficking" of NOLs. Section 382 of the Internal Revenue Code states that if a "change in ownership" occurs the NOL would be subject to annual limitations, which would significantly reduce its value. A change in ownership occurs if one or more "5% shareholders" increase their ownership in the company by more than 50 percentage points over a three-year testing period. For instance, if a 10% shareholder increased his position in the Company to 60% (a 50 percentage point increase), the NOL would be subject to annual limitations.
Obviously with Section 382 in place, the obvious method to monetize a NOL is to acquire an asset with taxable income to offset the losses-this way, a change in ownership never occurs. The second method to monetize a NOL is to be acquired by another company. Of course, this would likely trigger a change in control, which set annual limitations on the use of the NOL. Despite the annual limitations, a company in MYRX's situation is still an attractive target for private companies looking to go public via a reverse merger. The two most obvious reasons to go public through a reverse merger are that it's faster and generally cheaper than a traditional IPO. Fortunately for MYRX shareholders, Couchman and Pearce have completed both types of transactions.
Given that the investment thesis is essentially predicated on Couchman and Pearce monetizing the NOL, it is important to get a good understanding of both people:
Couchman: Couchman graduated with a Bachelor's in Finance from Chico State and currently serves as Chairman, President, CEO, and CFO of Xstelos Holdings, Inc. (OTCPK:XTLS). Prior to that, Couchman served as Chairman, President, CEO, and CFO of Footstar, Inc. until January 2012, at which point Footstar shareholders were converted to XTLS shareholders. Couchman also previously served as director of Golf Trust of America and was involved with their liquidation and subsequent merger with Pernix Therapeutics (NYSEMKT:PTX). In addition to his various board duties, he also serves as manager of various funds/partnerships he founded including Couchman Capital LLC, Couchman Investments LP, and Couchman International Ltd.
Pearce: Pearce has served as Chairman of Pernix Therapeutics Holdings since March 2010. He also currently serves as a principal in Relevant Therapeutics LLC and is a majority shareholder in Hatteras Equity, an acquirer of distressed real estate assets in North Carolina. Acting as Chairman and CEO, Pearce led the repositioning of Golf Trust of America, Inc., which ultimately led to its acquisition (more in this later). From the mid 80s to the early 2000s, Pearce held various leadership in several technology and communications companies such as Hyundai Electronics America, Librex Computer Systems, Ventana Communications, and VocalTec Communications (NASDAQ:CALL). In addition, throughout his career, Pearce has served on the boards of various private and public companies such as Swiss Precision Corporation, Reliability, Inc., and Spatializer Audio Labs, Inc. Suffice it to say, Pearce's experience in various companies over the years affords him with an excellent network to extract value from MYRX.
As previously mentioned, both Couchman and Pearce have a proven track record for monetizing NOLs. I will now detail their prior experience in monetizing NOLs.
Golf Trust of America: As the name suggests, Golf Trust of America, Inc. (GTA) was a real estate investment trust (REIT) formed to acquire upscale golf courses throughout the U.S. On 02/28/01, after a review of strategic alternatives, GTA's Board unanimously decided to liquidate the Company. By mid 2007, GTA had sold most of its assets and was left with a very valuable $85 million NOL. In the fall of 2007, Michael Pearce was brought on the board and shortly followed by Couchman. The Company then began evaluating ways to monetize its NOL. On 10/06/09, the Company announced a plan to merge with Pernix Therapeutics , a specialty pharmaceutical company focused on pediatrics, in the form of a reverse merger. Michael Pearce was responsible for identifying and negotiating this transaction.
By the time Couchman joined GTA as director on 12/14/07, the stock traded at $2.14. Following GTA's last asset sale on 09/26/08, the stock had fallen to $1.50. By the time the merger closed, the stock hit $1.99 and surged to $5.00 the day after it closed. The overall return from the moment Pearce joined the Company (on 09/13/07) to the day after the Company closed the merger (on 03/10/10) was 150.0%. Obviously in this case, Pearce was able to extract significant value from GTA's NOLs through a reverse merger.
MYRX .063 - No brainer. Article:
- Huge bidders trying to out bid each other. I bet they acquire a pharma company soon IMO:
MYRX - Myrexis: Cheap Opportunity On Proven Management Team
Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Thesis: Since distributing most of its assets to shareholders, Myrexis (NASDAQ:MYRX) has been left for dead despite possessing one final valuable asset-a net operating loss carryfoward. The Company is currently valued at $5.4 million, just a fraction of its $147 million net operating loss (NOL) carry forward. The Company's CEO Jonathan Couchman was brought on to monetize this asset. Since joining, Couchman has brought on a former colleague, Michael Pearce, as a director. Both men have extensive experience monetizing such assets, which could potentially generate substantial returns for shareholders uncorrelated with the market.
Background on Myrexis: On 06/30/09, Myriad Genetics spun-off its cancer research and drug development business to shareholders. After spending two and a half years and millions without much success, in February of 2012, the Company decided to suspend all pre-clinical and clinical programs and pursue strategic alternatives. Subsequently on 11/09/12, MYRX announced its plans to liquidate. However, the day the special shareholder meeting was set to take place (on 01/23/13) to vote on the liquidation, the Company announced it decided to cancel the meeting and instead declare a special cash dividend to shareholders of $2.86 per share. On that same day, the Company named Jonathan Couchman as Director, President, and CEO to pursue other strategic alternatives-namely to monetize its NOLs. After going ex-dividend on 02/19/13, the stock fell to $0.17.
Investors have abandoned the Company after it paid the dividend despite the fact that it still possesses an extremely valuable asset with a proven management team.
How to monetize NOLs: It should be noted that there are certain tax rules designed to circumvent "trafficking" of NOLs. Section 382 of the Internal Revenue Code states that if a "change in ownership" occurs the NOL would be subject to annual limitations, which would significantly reduce its value. A change in ownership occurs if one or more "5% shareholders" increase their ownership in the company by more than 50 percentage points over a three-year testing period. For instance, if a 10% shareholder increased his position in the Company to 60% (a 50 percentage point increase), the NOL would be subject to annual limitations.
Obviously with Section 382 in place, the obvious method to monetize a NOL is to acquire an asset with taxable income to offset the losses-this way, a change in ownership never occurs. The second method to monetize a NOL is to be acquired by another company. Of course, this would likely trigger a change in control, which set annual limitations on the use of the NOL. Despite the annual limitations, a company in MYRX's situation is still an attractive target for private companies looking to go public via a reverse merger. The two most obvious reasons to go public through a reverse merger are that it's faster and generally cheaper than a traditional IPO. Fortunately for MYRX shareholders, Couchman and Pearce have completed both types of transactions.
Given that the investment thesis is essentially predicated on Couchman and Pearce monetizing the NOL, it is important to get a good understanding of both people:
Couchman: Couchman graduated with a Bachelor's in Finance from Chico State and currently serves as Chairman, President, CEO, and CFO of Xstelos Holdings, Inc. (OTCPK:XTLS). Prior to that, Couchman served as Chairman, President, CEO, and CFO of Footstar, Inc. until January 2012, at which point Footstar shareholders were converted to XTLS shareholders. Couchman also previously served as director of Golf Trust of America and was involved with their liquidation and subsequent merger with Pernix Therapeutics (NYSEMKT:PTX). In addition to his various board duties, he also serves as manager of various funds/partnerships he founded including Couchman Capital LLC, Couchman Investments LP, and Couchman International Ltd.
Pearce: Pearce has served as Chairman of Pernix Therapeutics Holdings since March 2010. He also currently serves as a principal in Relevant Therapeutics LLC and is a majority shareholder in Hatteras Equity, an acquirer of distressed real estate assets in North Carolina. Acting as Chairman and CEO, Pearce led the repositioning of Golf Trust of America, Inc., which ultimately led to its acquisition (more in this later). From the mid 80s to the early 2000s, Pearce held various leadership in several technology and communications companies such as Hyundai Electronics America, Librex Computer Systems, Ventana Communications, and VocalTec Communications (NASDAQ:CALL). In addition, throughout his career, Pearce has served on the boards of various private and public companies such as Swiss Precision Corporation, Reliability, Inc., and Spatializer Audio Labs, Inc. Suffice it to say, Pearce's experience in various companies over the years affords him with an excellent network to extract value from MYRX.
As previously mentioned, both Couchman and Pearce have a proven track record for monetizing NOLs. I will now detail their prior experience in monetizing NOLs.
Golf Trust of America: As the name suggests, Golf Trust of America, Inc. (GTA) was a real estate investment trust (REIT) formed to acquire upscale golf courses throughout the U.S. On 02/28/01, after a review of strategic alternatives, GTA's Board unanimously decided to liquidate the Company. By mid 2007, GTA had sold most of its assets and was left with a very valuable $85 million NOL. In the fall of 2007, Michael Pearce was brought on the board and shortly followed by Couchman. The Company then began evaluating ways to monetize its NOL. On 10/06/09, the Company announced a plan to merge with Pernix Therapeutics , a specialty pharmaceutical company focused on pediatrics, in the form of a reverse merger. Michael Pearce was responsible for identifying and negotiating this transaction.
By the time Couchman joined GTA as director on 12/14/07, the stock traded at $2.14. Following GTA's last asset sale on 09/26/08, the stock had fallen to $1.50. By the time the merger closed, the stock hit $1.99 and surged to $5.00 the day after it closed. The overall return from the moment Pearce joined the Company (on 09/13/07) to the day after the Company closed the merger (on 03/10/10) was 150.0%. Obviously in this case, Pearce was able to extract significant value from GTA's NOLs through a reverse merger.
Big bidders keep trying to out bid each other here. I've never seen this here before. If the company merges with another then we could easily see $1+ again. I think it happens in the next year by how it's trading
MYRX .075 - Huge bidders trying to out bid each other. I bet they acquire a pharma company soon IMO:
MYRX - Myrexis: Cheap Opportunity On Proven Management Team
Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Thesis: Since distributing most of its assets to shareholders, Myrexis (NASDAQ:MYRX) has been left for dead despite possessing one final valuable asset-a net operating loss carryfoward. The Company is currently valued at $5.4 million, just a fraction of its $147 million net operating loss (NOL) carry forward. The Company's CEO Jonathan Couchman was brought on to monetize this asset. Since joining, Couchman has brought on a former colleague, Michael Pearce, as a director. Both men have extensive experience monetizing such assets, which could potentially generate substantial returns for shareholders uncorrelated with the market.
Background on Myrexis: On 06/30/09, Myriad Genetics spun-off its cancer research and drug development business to shareholders. After spending two and a half years and millions without much success, in February of 2012, the Company decided to suspend all pre-clinical and clinical programs and pursue strategic alternatives. Subsequently on 11/09/12, MYRX announced its plans to liquidate. However, the day the special shareholder meeting was set to take place (on 01/23/13) to vote on the liquidation, the Company announced it decided to cancel the meeting and instead declare a special cash dividend to shareholders of $2.86 per share. On that same day, the Company named Jonathan Couchman as Director, President, and CEO to pursue other strategic alternatives-namely to monetize its NOLs. After going ex-dividend on 02/19/13, the stock fell to $0.17.
Investors have abandoned the Company after it paid the dividend despite the fact that it still possesses an extremely valuable asset with a proven management team.
How to monetize NOLs: It should be noted that there are certain tax rules designed to circumvent "trafficking" of NOLs. Section 382 of the Internal Revenue Code states that if a "change in ownership" occurs the NOL would be subject to annual limitations, which would significantly reduce its value. A change in ownership occurs if one or more "5% shareholders" increase their ownership in the company by more than 50 percentage points over a three-year testing period. For instance, if a 10% shareholder increased his position in the Company to 60% (a 50 percentage point increase), the NOL would be subject to annual limitations.
Obviously with Section 382 in place, the obvious method to monetize a NOL is to acquire an asset with taxable income to offset the losses-this way, a change in ownership never occurs. The second method to monetize a NOL is to be acquired by another company. Of course, this would likely trigger a change in control, which set annual limitations on the use of the NOL. Despite the annual limitations, a company in MYRX's situation is still an attractive target for private companies looking to go public via a reverse merger. The two most obvious reasons to go public through a reverse merger are that it's faster and generally cheaper than a traditional IPO. Fortunately for MYRX shareholders, Couchman and Pearce have completed both types of transactions.
Given that the investment thesis is essentially predicated on Couchman and Pearce monetizing the NOL, it is important to get a good understanding of both people:
Couchman: Couchman graduated with a Bachelor's in Finance from Chico State and currently serves as Chairman, President, CEO, and CFO of Xstelos Holdings, Inc. (OTCPK:XTLS). Prior to that, Couchman served as Chairman, President, CEO, and CFO of Footstar, Inc. until January 2012, at which point Footstar shareholders were converted to XTLS shareholders. Couchman also previously served as director of Golf Trust of America and was involved with their liquidation and subsequent merger with Pernix Therapeutics (NYSEMKT:PTX). In addition to his various board duties, he also serves as manager of various funds/partnerships he founded including Couchman Capital LLC, Couchman Investments LP, and Couchman International Ltd.
Pearce: Pearce has served as Chairman of Pernix Therapeutics Holdings since March 2010. He also currently serves as a principal in Relevant Therapeutics LLC and is a majority shareholder in Hatteras Equity, an acquirer of distressed real estate assets in North Carolina. Acting as Chairman and CEO, Pearce led the repositioning of Golf Trust of America, Inc., which ultimately led to its acquisition (more in this later). From the mid 80s to the early 2000s, Pearce held various leadership in several technology and communications companies such as Hyundai Electronics America, Librex Computer Systems, Ventana Communications, and VocalTec Communications (NASDAQ:CALL). In addition, throughout his career, Pearce has served on the boards of various private and public companies such as Swiss Precision Corporation, Reliability, Inc., and Spatializer Audio Labs, Inc. Suffice it to say, Pearce's experience in various companies over the years affords him with an excellent network to extract value from MYRX.
As previously mentioned, both Couchman and Pearce have a proven track record for monetizing NOLs. I will now detail their prior experience in monetizing NOLs.
Golf Trust of America: As the name suggests, Golf Trust of America, Inc. (GTA) was a real estate investment trust (REIT) formed to acquire upscale golf courses throughout the U.S. On 02/28/01, after a review of strategic alternatives, GTA's Board unanimously decided to liquidate the Company. By mid 2007, GTA had sold most of its assets and was left with a very valuable $85 million NOL. In the fall of 2007, Michael Pearce was brought on the board and shortly followed by Couchman. The Company then began evaluating ways to monetize its NOL. On 10/06/09, the Company announced a plan to merge with Pernix Therapeutics , a specialty pharmaceutical company focused on pediatrics, in the form of a reverse merger. Michael Pearce was responsible for identifying and negotiating this transaction.
By the time Couchman joined GTA as director on 12/14/07, the stock traded at $2.14. Following GTA's last asset sale on 09/26/08, the stock had fallen to $1.50. By the time the merger closed, the stock hit $1.99 and surged to $5.00 the day after it closed. The overall return from the moment Pearce joined the Company (on 09/13/07) to the day after the Company closed the merger (on 03/10/10) was 150.0%. Obviously in this case, Pearce was able to extract significant value from GTA's NOLs through a reverse merger.
MYRX .075 - Huge bidders trying to out bid each other. I bet they acquire a pharma company soon IMO:
MYRX - Myrexis: Cheap Opportunity On Proven Management Team
Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Thesis: Since distributing most of its assets to shareholders, Myrexis (NASDAQ:MYRX) has been left for dead despite possessing one final valuable asset-a net operating loss carryfoward. The Company is currently valued at $5.4 million, just a fraction of its $147 million net operating loss (NOL) carry forward. The Company's CEO Jonathan Couchman was brought on to monetize this asset. Since joining, Couchman has brought on a former colleague, Michael Pearce, as a director. Both men have extensive experience monetizing such assets, which could potentially generate substantial returns for shareholders uncorrelated with the market.
Background on Myrexis: On 06/30/09, Myriad Genetics spun-off its cancer research and drug development business to shareholders. After spending two and a half years and millions without much success, in February of 2012, the Company decided to suspend all pre-clinical and clinical programs and pursue strategic alternatives. Subsequently on 11/09/12, MYRX announced its plans to liquidate. However, the day the special shareholder meeting was set to take place (on 01/23/13) to vote on the liquidation, the Company announced it decided to cancel the meeting and instead declare a special cash dividend to shareholders of $2.86 per share. On that same day, the Company named Jonathan Couchman as Director, President, and CEO to pursue other strategic alternatives-namely to monetize its NOLs. After going ex-dividend on 02/19/13, the stock fell to $0.17.
Investors have abandoned the Company after it paid the dividend despite the fact that it still possesses an extremely valuable asset with a proven management team.
How to monetize NOLs: It should be noted that there are certain tax rules designed to circumvent "trafficking" of NOLs. Section 382 of the Internal Revenue Code states that if a "change in ownership" occurs the NOL would be subject to annual limitations, which would significantly reduce its value. A change in ownership occurs if one or more "5% shareholders" increase their ownership in the company by more than 50 percentage points over a three-year testing period. For instance, if a 10% shareholder increased his position in the Company to 60% (a 50 percentage point increase), the NOL would be subject to annual limitations.
Obviously with Section 382 in place, the obvious method to monetize a NOL is to acquire an asset with taxable income to offset the losses-this way, a change in ownership never occurs. The second method to monetize a NOL is to be acquired by another company. Of course, this would likely trigger a change in control, which set annual limitations on the use of the NOL. Despite the annual limitations, a company in MYRX's situation is still an attractive target for private companies looking to go public via a reverse merger. The two most obvious reasons to go public through a reverse merger are that it's faster and generally cheaper than a traditional IPO. Fortunately for MYRX shareholders, Couchman and Pearce have completed both types of transactions.
Given that the investment thesis is essentially predicated on Couchman and Pearce monetizing the NOL, it is important to get a good understanding of both people:
Couchman: Couchman graduated with a Bachelor's in Finance from Chico State and currently serves as Chairman, President, CEO, and CFO of Xstelos Holdings, Inc. (OTCPK:XTLS). Prior to that, Couchman served as Chairman, President, CEO, and CFO of Footstar, Inc. until January 2012, at which point Footstar shareholders were converted to XTLS shareholders. Couchman also previously served as director of Golf Trust of America and was involved with their liquidation and subsequent merger with Pernix Therapeutics (NYSEMKT:PTX). In addition to his various board duties, he also serves as manager of various funds/partnerships he founded including Couchman Capital LLC, Couchman Investments LP, and Couchman International Ltd.
Pearce: Pearce has served as Chairman of Pernix Therapeutics Holdings since March 2010. He also currently serves as a principal in Relevant Therapeutics LLC and is a majority shareholder in Hatteras Equity, an acquirer of distressed real estate assets in North Carolina. Acting as Chairman and CEO, Pearce led the repositioning of Golf Trust of America, Inc., which ultimately led to its acquisition (more in this later). From the mid 80s to the early 2000s, Pearce held various leadership in several technology and communications companies such as Hyundai Electronics America, Librex Computer Systems, Ventana Communications, and VocalTec Communications (NASDAQ:CALL). In addition, throughout his career, Pearce has served on the boards of various private and public companies such as Swiss Precision Corporation, Reliability, Inc., and Spatializer Audio Labs, Inc. Suffice it to say, Pearce's experience in various companies over the years affords him with an excellent network to extract value from MYRX.
As previously mentioned, both Couchman and Pearce have a proven track record for monetizing NOLs. I will now detail their prior experience in monetizing NOLs.
Golf Trust of America: As the name suggests, Golf Trust of America, Inc. (GTA) was a real estate investment trust (REIT) formed to acquire upscale golf courses throughout the U.S. On 02/28/01, after a review of strategic alternatives, GTA's Board unanimously decided to liquidate the Company. By mid 2007, GTA had sold most of its assets and was left with a very valuable $85 million NOL. In the fall of 2007, Michael Pearce was brought on the board and shortly followed by Couchman. The Company then began evaluating ways to monetize its NOL. On 10/06/09, the Company announced a plan to merge with Pernix Therapeutics , a specialty pharmaceutical company focused on pediatrics, in the form of a reverse merger. Michael Pearce was responsible for identifying and negotiating this transaction.
By the time Couchman joined GTA as director on 12/14/07, the stock traded at $2.14. Following GTA's last asset sale on 09/26/08, the stock had fallen to $1.50. By the time the merger closed, the stock hit $1.99 and surged to $5.00 the day after it closed. The overall return from the moment Pearce joined the Company (on 09/13/07) to the day after the Company closed the merger (on 03/10/10) was 150.0%. Obviously in this case, Pearce was able to extract significant value from GTA's NOLs through a reverse merger.
ME CK - type in their website www.mecklermedia.com (also on OTC site) and see the update they made last week
MYRX .075 - Huge bidders trying to out bid each other. I bet they acquire a pharma company soon IMO:
MYRX - Myrexis: Cheap Opportunity On Proven Management Team
Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Thesis: Since distributing most of its assets to shareholders, Myrexis (NASDAQ:MYRX) has been left for dead despite possessing one final valuable asset-a net operating loss carryfoward. The Company is currently valued at $5.4 million, just a fraction of its $147 million net operating loss (NOL) carry forward. The Company's CEO Jonathan Couchman was brought on to monetize this asset. Since joining, Couchman has brought on a former colleague, Michael Pearce, as a director. Both men have extensive experience monetizing such assets, which could potentially generate substantial returns for shareholders uncorrelated with the market.
Background on Myrexis: On 06/30/09, Myriad Genetics spun-off its cancer research and drug development business to shareholders. After spending two and a half years and millions without much success, in February of 2012, the Company decided to suspend all pre-clinical and clinical programs and pursue strategic alternatives. Subsequently on 11/09/12, MYRX announced its plans to liquidate. However, the day the special shareholder meeting was set to take place (on 01/23/13) to vote on the liquidation, the Company announced it decided to cancel the meeting and instead declare a special cash dividend to shareholders of $2.86 per share. On that same day, the Company named Jonathan Couchman as Director, President, and CEO to pursue other strategic alternatives-namely to monetize its NOLs. After going ex-dividend on 02/19/13, the stock fell to $0.17.
Investors have abandoned the Company after it paid the dividend despite the fact that it still possesses an extremely valuable asset with a proven management team.
How to monetize NOLs: It should be noted that there are certain tax rules designed to circumvent "trafficking" of NOLs. Section 382 of the Internal Revenue Code states that if a "change in ownership" occurs the NOL would be subject to annual limitations, which would significantly reduce its value. A change in ownership occurs if one or more "5% shareholders" increase their ownership in the company by more than 50 percentage points over a three-year testing period. For instance, if a 10% shareholder increased his position in the Company to 60% (a 50 percentage point increase), the NOL would be subject to annual limitations.
Obviously with Section 382 in place, the obvious method to monetize a NOL is to acquire an asset with taxable income to offset the losses-this way, a change in ownership never occurs. The second method to monetize a NOL is to be acquired by another company. Of course, this would likely trigger a change in control, which set annual limitations on the use of the NOL. Despite the annual limitations, a company in MYRX's situation is still an attractive target for private companies looking to go public via a reverse merger. The two most obvious reasons to go public through a reverse merger are that it's faster and generally cheaper than a traditional IPO. Fortunately for MYRX shareholders, Couchman and Pearce have completed both types of transactions.
Given that the investment thesis is essentially predicated on Couchman and Pearce monetizing the NOL, it is important to get a good understanding of both people:
Couchman: Couchman graduated with a Bachelor's in Finance from Chico State and currently serves as Chairman, President, CEO, and CFO of Xstelos Holdings, Inc. (OTCPK:XTLS). Prior to that, Couchman served as Chairman, President, CEO, and CFO of Footstar, Inc. until January 2012, at which point Footstar shareholders were converted to XTLS shareholders. Couchman also previously served as director of Golf Trust of America and was involved with their liquidation and subsequent merger with Pernix Therapeutics (NYSEMKT:PTX). In addition to his various board duties, he also serves as manager of various funds/partnerships he founded including Couchman Capital LLC, Couchman Investments LP, and Couchman International Ltd.
Pearce: Pearce has served as Chairman of Pernix Therapeutics Holdings since March 2010. He also currently serves as a principal in Relevant Therapeutics LLC and is a majority shareholder in Hatteras Equity, an acquirer of distressed real estate assets in North Carolina. Acting as Chairman and CEO, Pearce led the repositioning of Golf Trust of America, Inc., which ultimately led to its acquisition (more in this later). From the mid 80s to the early 2000s, Pearce held various leadership in several technology and communications companies such as Hyundai Electronics America, Librex Computer Systems, Ventana Communications, and VocalTec Communications (NASDAQ:CALL). In addition, throughout his career, Pearce has served on the boards of various private and public companies such as Swiss Precision Corporation, Reliability, Inc., and Spatializer Audio Labs, Inc. Suffice it to say, Pearce's experience in various companies over the years affords him with an excellent network to extract value from MYRX.
As previously mentioned, both Couchman and Pearce have a proven track record for monetizing NOLs. I will now detail their prior experience in monetizing NOLs.
Golf Trust of America: As the name suggests, Golf Trust of America, Inc. (GTA) was a real estate investment trust (REIT) formed to acquire upscale golf courses throughout the U.S. On 02/28/01, after a review of strategic alternatives, GTA's Board unanimously decided to liquidate the Company. By mid 2007, GTA had sold most of its assets and was left with a very valuable $85 million NOL. In the fall of 2007, Michael Pearce was brought on the board and shortly followed by Couchman. The Company then began evaluating ways to monetize its NOL. On 10/06/09, the Company announced a plan to merge with Pernix Therapeutics , a specialty pharmaceutical company focused on pediatrics, in the form of a reverse merger. Michael Pearce was responsible for identifying and negotiating this transaction.
By the time Couchman joined GTA as director on 12/14/07, the stock traded at $2.14. Following GTA's last asset sale on 09/26/08, the stock had fallen to $1.50. By the time the merger closed, the stock hit $1.99 and surged to $5.00 the day after it closed. The overall return from the moment Pearce joined the Company (on 09/13/07) to the day after the Company closed the merger (on 03/10/10) was 150.0%. Obviously in this case, Pearce was able to extract significant value from GTA's NOLs through a reverse merger.
MYRX .075 - Huge bidders trying to out bid each other. I bet they acquire a pharma company soon IMO:
MYRX - Myrexis: Cheap Opportunity On Proven Management Team
Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Thesis: Since distributing most of its assets to shareholders, Myrexis (NASDAQ:MYRX) has been left for dead despite possessing one final valuable asset-a net operating loss carryfoward. The Company is currently valued at $5.4 million, just a fraction of its $147 million net operating loss (NOL) carry forward. The Company's CEO Jonathan Couchman was brought on to monetize this asset. Since joining, Couchman has brought on a former colleague, Michael Pearce, as a director. Both men have extensive experience monetizing such assets, which could potentially generate substantial returns for shareholders uncorrelated with the market.
Background on Myrexis: On 06/30/09, Myriad Genetics spun-off its cancer research and drug development business to shareholders. After spending two and a half years and millions without much success, in February of 2012, the Company decided to suspend all pre-clinical and clinical programs and pursue strategic alternatives. Subsequently on 11/09/12, MYRX announced its plans to liquidate. However, the day the special shareholder meeting was set to take place (on 01/23/13) to vote on the liquidation, the Company announced it decided to cancel the meeting and instead declare a special cash dividend to shareholders of $2.86 per share. On that same day, the Company named Jonathan Couchman as Director, President, and CEO to pursue other strategic alternatives-namely to monetize its NOLs. After going ex-dividend on 02/19/13, the stock fell to $0.17.
Investors have abandoned the Company after it paid the dividend despite the fact that it still possesses an extremely valuable asset with a proven management team.
How to monetize NOLs: It should be noted that there are certain tax rules designed to circumvent "trafficking" of NOLs. Section 382 of the Internal Revenue Code states that if a "change in ownership" occurs the NOL would be subject to annual limitations, which would significantly reduce its value. A change in ownership occurs if one or more "5% shareholders" increase their ownership in the company by more than 50 percentage points over a three-year testing period. For instance, if a 10% shareholder increased his position in the Company to 60% (a 50 percentage point increase), the NOL would be subject to annual limitations.
Obviously with Section 382 in place, the obvious method to monetize a NOL is to acquire an asset with taxable income to offset the losses-this way, a change in ownership never occurs. The second method to monetize a NOL is to be acquired by another company. Of course, this would likely trigger a change in control, which set annual limitations on the use of the NOL. Despite the annual limitations, a company in MYRX's situation is still an attractive target for private companies looking to go public via a reverse merger. The two most obvious reasons to go public through a reverse merger are that it's faster and generally cheaper than a traditional IPO. Fortunately for MYRX shareholders, Couchman and Pearce have completed both types of transactions.
Given that the investment thesis is essentially predicated on Couchman and Pearce monetizing the NOL, it is important to get a good understanding of both people:
Couchman: Couchman graduated with a Bachelor's in Finance from Chico State and currently serves as Chairman, President, CEO, and CFO of Xstelos Holdings, Inc. (OTCPK:XTLS). Prior to that, Couchman served as Chairman, President, CEO, and CFO of Footstar, Inc. until January 2012, at which point Footstar shareholders were converted to XTLS shareholders. Couchman also previously served as director of Golf Trust of America and was involved with their liquidation and subsequent merger with Pernix Therapeutics (NYSEMKT:PTX). In addition to his various board duties, he also serves as manager of various funds/partnerships he founded including Couchman Capital LLC, Couchman Investments LP, and Couchman International Ltd.
Pearce: Pearce has served as Chairman of Pernix Therapeutics Holdings since March 2010. He also currently serves as a principal in Relevant Therapeutics LLC and is a majority shareholder in Hatteras Equity, an acquirer of distressed real estate assets in North Carolina. Acting as Chairman and CEO, Pearce led the repositioning of Golf Trust of America, Inc., which ultimately led to its acquisition (more in this later). From the mid 80s to the early 2000s, Pearce held various leadership in several technology and communications companies such as Hyundai Electronics America, Librex Computer Systems, Ventana Communications, and VocalTec Communications (NASDAQ:CALL). In addition, throughout his career, Pearce has served on the boards of various private and public companies such as Swiss Precision Corporation, Reliability, Inc., and Spatializer Audio Labs, Inc. Suffice it to say, Pearce's experience in various companies over the years affords him with an excellent network to extract value from MYRX.
As previously mentioned, both Couchman and Pearce have a proven track record for monetizing NOLs. I will now detail their prior experience in monetizing NOLs.
Golf Trust of America: As the name suggests, Golf Trust of America, Inc. (GTA) was a real estate investment trust (REIT) formed to acquire upscale golf courses throughout the U.S. On 02/28/01, after a review of strategic alternatives, GTA's Board unanimously decided to liquidate the Company. By mid 2007, GTA had sold most of its assets and was left with a very valuable $85 million NOL. In the fall of 2007, Michael Pearce was brought on the board and shortly followed by Couchman. The Company then began evaluating ways to monetize its NOL. On 10/06/09, the Company announced a plan to merge with Pernix Therapeutics , a specialty pharmaceutical company focused on pediatrics, in the form of a reverse merger. Michael Pearce was responsible for identifying and negotiating this transaction.
By the time Couchman joined GTA as director on 12/14/07, the stock traded at $2.14. Following GTA's last asset sale on 09/26/08, the stock had fallen to $1.50. By the time the merger closed, the stock hit $1.99 and surged to $5.00 the day after it closed. The overall return from the moment Pearce joined the Company (on 09/13/07) to the day after the Company closed the merger (on 03/10/10) was 150.0%. Obviously in this case, Pearce was able to extract significant value from GTA's NOLs through a reverse merger.
I highly doubt we will see .02 again imo. Too many shares locked up
If we get Richard Oravec from DOLV on board then we are dialed! He is in China right now but hope to be in contact with him late this week.
Thanks for that link! Its crazy that there are so many crypto currencies out there!
Go to http://www.otcmarkets.com/stock/MECK/profile and click on their website.
They just updated it with 3DR holdings. I hope/wish it becomes profitable in the next couple years so that Alan utilizes the shell with 3DR holdings. The new website looks impressive
If you go to www.mecklermedia.com , it takes you to Alan Meckers brand new 3DR Holdings site. They must have done this in the last couple weeks
That is exactly what I am hoping!
@alanmeckler: I will be in Kampala, Uganda and Dubai in the next few days. Always ready for business ideas.
m.twitter.com/alanmeckler
He just now tweeted this
How does the sentiment thing work?
Someone picked up a nice block of shares today at .05
I emailed Adam Tracey to see if he can chat with me this week about MECK. He has good knowledge of corporate actions, mergers, and whatnot.
I need to figure out how I can buy 2 million shares of this lol. Maybe we can get some group to pump and dump it so people can pick up cheap shares like last year when volume was over 1 million a day and the price never got much above .01 before it went back to .005
Someone bought a decent block of shares this morning
$40 million in NOL's is quite a bit for this small market cap stock
60% of the OS is restricted from trading. Can't imagine there are too many sellers left
Just sent you an email
The owner has about two years left to cancel the dissolution. It's easy to do so if an interested party wants to utilize the shell then just need to file a $20 something dollar form to DE sos
I wonder what it would take to request a vote to abandon the dissolution and file a 15-12