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Curious as to what the true float is here. Could get really interesting if some kind of news wereto come out.
Well I can't sell anything now since it would be for a sizable loss. Just going to wait it out.
Not many shares available. Would be nice to see .18 to fill that gap.
I have no choice but to hold since I am down many thousands of dollars now. At least we know it won't get delisted so we can hang onto it for as long as we want
Didn't think we would ever see .04's again. I guess its gonna be one of those 8 year holds.
I bet the .08 order was moved to .06 It would be hard for anyone wanting to buy large blocks of 100k + shares.
I remember Meckler tweeting several years ago to notify him if anyone wanted to sell him large blocks of shares since they are hard to get.
With such a low float, any momo could sent it. Could you imagine if all of the most popular ihubbers got into this!
Reminds me of FCNK if shell were to be used:
====================================================================================
FCNK (now RGNO) initial o/s 5M
5/26/06 -Nevada SOS reinstatement
10/3/06 -Filed 15-12g under Mark Smith
First 2 weeks of October 2006 -PPS peaked at $3.70 from 52 week low of .008.
===============================================================================================
Looks like you took out .06
The MM's rape you if you bid sit on low float stocks! There have been stocks that I would bid on and got as little as a single share on a .00 stock and got charged the fee.
Someone buying some MECK shares today
I wonder how much of the float us I-hubbers own. There aren't many shares to buy and no one seems to be selling.
Would be great to see a 3D shoe printing company take over the shell!
ME CK - an easy 20 bagger from here imo
Ugh, I never got in. I somehow put in a day order instead of a gtc order. Kills me
MECK .04 x .06 6 million OS, 2 million float. Shell up for sale
MECK .04 x .06 6 million OS, 2 million float.
MECK .04 x .06 6 million OS, 2 million float.
.04 x .06
Could get interesting for sure
Do you know who might be interested in the shell? It's a good one that's for sure
Contacted Richard Oravec from DOLV about ME CK shell and he said he will reach out to owner! Could get interesting since it only has 6 million OS
First Capital Takes Another Step Towards Completing Its Strategic Transaction With Presidential Realty
BY PR Newswire
— 6:13 PM ET 03/31/2017
NEW YORK, March 31, 2017 /PRNewswire/ -- First Capital Real Estate Trust Incorporated ("First Capital"), a public non-traded real estate investment trust ("REIT") incorporated in Maryland, today announced it has entered into a second amendment to the previously announced Interest Contribution Agreement dated December 16, 2016, as amended, with Presidential Realty Corporation ( PDNLA
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) ("Presidential"), a REIT incorporated in Delaware.
On January 6, 2017, pursuant to the terms of the interest contribution agreement, First Capital (through its operating partnership) contributed to Presidential's wholly-owned operating partnership ("Presidential OP") its indirect ownership interests in Avalon Jubilee LLC in exchange for 4,632,000 units of limited partnership interest ("OP Units") in Presidential OP. OP Units are convertible into a like number of newly issued shares of Presidential Class B common stock. The underlying Avalon Jubilee properties consist of 251 non-contiguous single-family residential lots and a 10,000 square foot clubhouse located within the Jubilee at Los Lunas subdivision in Los Lunas, New Mexico.
On March 31, 2017, in connection with the second amendment, First Capital (through its operating partnership) transferred to a wholly-owned subsidiary of Presidential OP 66% (the "T9 Ownership Interest") of First Capital's 92% ownership interest in Township Nine Owner, LLC, which indirectly owns a 63-acre mixed-use development project located in downtown Sacramento, California (the "T9 Property"). The T9 Property is anticipated to include high-rise residential, office, hotel and retail properties. In the second amendment, Presidential OP agreed to issue 32,649,000 OP Units to First Capital in exchange for the T9 Ownership Interest. That issuance of OP Units is subject to a hold-back requirement until certain conditions are met. These conditions include a new appraisal of the T9 Ownership Interest and a work out of the mortgage debt secured by the underlying T9 Property. That mortgage debt is currently in default. The number of OP Units ultimately issued if these conditions are satisfied is subject to adjustment based on the new appraisal and the amount of the mortgage debt at that time, and these adjustments could result in a material change in the number of OP Units that are ultimately issued and delivered if the conditions are satisfied. Presidential agreed to endeavor for the next 30 days to obtain an extension or refinancing of the mortgage debt. Certain other conditions to the transaction were waived. If the appraisal and the loan extension/refinancing is not obtained within 180 days, then First Capital and Presidential may within 10 days mutually agree in writing to extend the time to complete the extension/refinancing of the loan, or either First Capital or Presidential may elect to cancel the transfer of the T9 Ownership Interest following 10 days prior written notice to the other party.
The second amendment also provides that Serge Kasarda and Richard Shea, both veterans of BlackRock, will be elected by the Presidential board of directors to fill the two vacancies on the board, subject to board approval, and that Mr. Kasarda will be appointed to lead a new Presidential management team, subject to board approval. In connection with the second amendment, the Presidential board approved a business strategy to seek investments in the healthcare industry.
Serge Kasarda is a 25-year real estate industry veteran and founder and Chief Executive Officer of Seventieth Street Asset Management. Mr. Kasarda founded Seventieth Street in 2008 after leaving BlackRock, where he started the firm's joint venture equity group before joining its real estate high yield debt group. Prior to his time at Blackrock, Mr. Kasarda was a Senior Vice President at Bank of America responsible for originating transitional real estate loans and working out non-performing loans of acquired banks.
"This transaction is over a year in the making, and we are excited to move forward with this strategic transaction with Presidential, a company with a legacy dating back to 1909," said Suneet Singal, Chief Executive Officer of First Capital.
For additional information about the second amendment to the Interest Contribution Agreement, please see First Capital's Current Report on Form 8-K to be filed with the SEC and which will be available at the SEC's website at www.sec.gov. The second amendment will be filed as an exhibit to that Form 8-K.
About First Capital
First Capital Real Estate Trust Incorporated is a public non-traded REIT based in New York City and founded in 2012. First Capital's portfolio consists of various assets including land development, multifamily development, gas station development, hotels and medical offices.
About Seventieth Street Asset Management
Seventieth Street Asset Management ("SSAM") provides a range of advisory services to commercial real estate investors and operators including developing investment strategies, optimizing the capital structure, placing capital (senior debt, subordinated debt and joint venture equity), and property analysis. SSAM was founded in 2008 by Serge Kasarda, a 25-year real estate industry veteran with deep knowledge of the debt and equity markets through his investment advisory and commercial banking experience. For more information about SSAM please visit:
http://www.seventiethstreet.com/home.html.
Forward-Looking Statements
This press release contains statements that do not relate to historical facts, but are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can generally (although not always) be identified by their use of terms and phrases such as anticipate, appear, believe, continue, could, estimate, expect, indicate, intend, may, plan, possible, predict, project, pursue, will, would and other similar terms and phrases, as well as the use of the future tense. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of First Capital or Presidential, as applicable, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of First Capital's control. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this press release speak only as of the date hereof, and forward-looking statements in documents incorporated by reference speak only as of the date of those documents. Unless otherwise required by law, First Capital undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Examples of forward-looking statements in this release include statements regarding the anticipated development of the T9 Property, Presidential's efforts to work out the mortgage debt secured by the underlying T9 Property, the election of Serge Kasarda and Richard Shea to fill the vacancies on the Presidential Board and the appointment of Mr. Kasarda to lead a new management team. First Capital also notes that no assurances can be provided that the two conditions to the completion of the transactions contemplated in the second amendment to the Interest Contribution Agreement, as amended, will in fact be satisfied in light of the difficulty of negotiating an acceptable extension or refinancing of the debt secured by the T9 Property and the uncertainties associated in obtaining an appraisal of the T9 Ownership Interest.
Media Contacts
Jason Chudoba and Sarah Bicknell
jason.chudoba@icrinc.com, 646-277-1249
Sarah.Bicknell@icrinc.com, 646-277-1260
Investor Contact
Vance Edelson
Vance.edelson@icrinc.com, 646-277-1229
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/first-capital-takes-another-step-towards-completing-its-strategic-transaction-with-presidential-realty-300432929.html
SOURCE First Capital Real Estate Trust Incorporated
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That's great for MNII! Good to know!
I bet Alan Meckler's 3DR holdings business is doing good. MECK would be multi dollars if he were to merge that business into MECK
Buy ME CK! It will be multi dollars soon IMO. Only 6 million OS 1.9 million float. Owner selling shell per posts on board. Any momo will send it IMO. Only a few people talking about it so lot of money to be made
You can get some at .065
MYRX 207,300 bid at .0533 x 10,000 ask at .065
MYRX bid now over 207,000 at .053. Sure hope it's someone that wants in
MYRX - Huge 207,000 bid in at .053! About to come to life?! Someone who puts $10,000 into a shell probably knows something right?!
Crazy huh! PDNLB should not be under $1 what so ever!
I just emailed their investor relations to see if/when the merger will be completed. I also asked them to forward that email to the CEO because I gave them all the contact info for the CEO of the ME CK shell.
It was a long email lol. But if you read closely, you will see that it looks like they want to contribute assets to another investment vehicle. I'm assuming they want some of their assets in a non reit stock since they are diversified?
I will let you guys know if I hear anything about the merger
This is huge!! Thanks for posting that. This could easily be trading on NYSE in the future
Got a hold of Richard Oravec from DOLV and gave him info and contact info for ME CK shell that owner wants to sell. $1+ coming imo
6 million OS
1.9 million float
Its a bummer that MNII is at .05 now. I got stuck holding the bag when others were selling when I bought my last block of shares.
I still think this stock is good longer term. Sometimes I wish I can buy more shares but then again in a way I'm glad I can't, just in case. I will keep holding. Maybe the other Castro will dissipate somehow and a new democratic regime will take over and a deal will be made.
The only reason I'm not going to sell now is because MNII won't get delisted.
No but I'm bidding for .006's
DOLV - I was able to get ahold of Richard and told him about ME CK shell. Says he will look into it.
MYRX - Huge 187,000 bid in at .053! About to come to life?! Someone who puts $10,000 into a shell probably knows something right?!
MYRX - Huge 187,000 bid in at .053! About to come to life?! Someone who puts $10,000 into a shell probably knows something!
MYRX - Huge 187,000 bid in at .053! About to come to life?! Someone who puts $10,000 into a shell probably knows something!
Line back for Seeking Alpha article
MYRX - Huge 187,000 bid in at .053! About to come to life?! Someone who puts $10,000 into a shell probably knows something!
I want filings! I'm ready for $1 land