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Don't know. Nothing is really clear in this.
The Tranche A and Tranche B warrants will convert into the respective percentages of ownership of the new common stock issued on the Effective Date of the Plan on a fully diluted basis, subject only to dilution by an equity incentive plan that continues to be negotiated.
Oh and BTW...Emphatic NO!!!!
Geee...how much wasted money to send a CD to everyone? :(
Someone has to be buying all these.
If this motion is granted, one would believe that the auction won't take place.
BANKRUPTCY WEEK AHEAD: Tronox Set To Auction Assets Monday
Last update: 12/18/2009 11:53:12 AM
By Marie Beaudette
Of DOW JONES DAILY BANKRUPTCY REVIEW
Tronox Inc. (TRXAQ) is slated to auction its assets Monday, but the chemical company has warned that it might not hold the auction on that date, or ever. Huntsman Corp. (HUN) has agreed to serve at the lead bidder at the auction with an offer worth $415 million, but Tronox is also negotiating a standalone restructuring plan with its bondholders. Huntsman wants to force Tronox to move forward with the auction, but Tronox says it's not bound to do so under their agreement. "Tronox specifically negotiated the right to work with its stakeholders to determine if a standalone plan of reorganization was a value-maximizing alternative to a sale. Huntsman agreed to these terms," the company said in papers filed with the New York bankruptcy court. The company won't promise that it'll hold the auction on Monday "or any other day" but says it will decide soon whether it will sell its assets or file a restructuring plan. Tronox, which produces titanium dioxide, a whitening pigment, filed for Chapter 11 bankruptcy protection in January. The Oklahoma City company was created in March 2006 when it was spun off from Kerr-McGee Corp., which was later acquired by Anadarko Petroleum Corp. (APC). Tronox took on a host of environmental liabilities in the deal. In May, Tronox filed a lawsuit over the spinoff, claiming that the massive environmental liabilities set it on a path to an inevitable bankruptcy.
(This item appears in Dow Jones' Daily Bankruptcy Review newsletter.) -By Marie Beaudette , Dow Jones Daily Bankruptcy Review; 202-862-862-1354
Regulation FD Disclosure, Financial Statements and Exhibits
Item 7.01 Regulation FD Disclosure
As previously disclosed on December 14, 2009, Tronox Incorporated on behalf of its affiliated debtors and debtors in possession (collectively, "Tronox") is engaged in active discussions on a term sheet that would provide a framework for a Chapter 11 plan of reorganization. The negotiations are with the Official Committee of Unsecured Creditors, a group of holders of Tronox's 9.5% Unsecured Notes due December 1, 2012 (the "Ad Hoc Noteholders") and the United States Attorney for the Southern District of New York. The term sheet negotiations contemplate (i) debt financing currently under negotiation and (ii) an equity commitment of $105 million by the Ad Hoc Noteholders. These funding sources would be used in part to provide $115 million to fund certain environmental remediation trusts and a litigation trust that form part of a comprehensive settlement of Tronox's legacy environmental liabilities with the United States government.
Tronox continues to also pursue an auction to sell substantially all of its assets pursuant to Section 363 of the Bankruptcy Code. The auction is scheduled for December 21, 2009, with a hearing to approve the sale of Tronox's assets set for December 22, 2009.
The potential transactions described above are not evidenced by signed agreements. There is no assurance that any of the transactions mentioned above will be consummated or if consummated what the terms will be. Tronox continues to explore all options.
In connection with pursuing the debt financing described above, Tronox is providing the financial information attached as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99.1 Financial Information
http://biz.yahoo.com/e/091217/trxaq.pk8-k.html
If 1 is denied, 2 is cancelled, then 3 is a foregone conclusion.
Best volume since 11/20 when it went from .45 - .65
I was accumulating on this dip of the B shares. Too much potential here not to!
Nice!
Strong day. Hope MOMO continues Monday without more MM shenanigans. Best to all playing...have a safe weekend.
Form 8-K for TRONOX INC
17-Nov-2009
Other Events
Item 8.01 Other Events
As previously disclosed, the Company continues to pursue a dual-track process in an effort to maximize value for the estate of the Company and the Company's stakeholders. As part of this process, the Company is actively pursuing a sale of all or substantially all of the Company's operating assets through
Section 363 of the Bankruptcy Code. The Company has previously entered into a "stalking horse" bid with affiliates of Huntsman Corporation, and is currently engaged with several parties to create competition with that stalking horse bid at a public auction for such assets, which is expected to be held in early December 2009.
While the sale process continues, the Company is also working with its stakeholders concerning the possibility of a stand-alone reorganization as an alternative to the sale. As part of this effort, on November 10, 2009, Tronox Incorporated (collectively with its direct and indirect subsidiaries, the "Company") entered into letter agreements with each of General Electric Capital Corporation ("GE") and Goldman Sachs Lending Partners LLC ("Goldman") each to act as financing source and arranger, respectively, in connection with providing new debtor in possession to exit financing for a $125 million asset backed revolver facility and a $300 million first lien term loan (such new financing, the "DIP to Exit Facilities"). If the Company is able to reach agreement with its stakeholders regarding a standalone reorganization and chooses to pursue a reorganization rather than a sale, and if the Company, GE and Goldman's efforts are successful and a plan of reorganization is confirmed, the proceeds from the DIP to Exit Facilities would be used to refinance the Company's existing indebtedness, fund a potential settlement with the United States Government and be available for general corporate purposes following the Company's exit from bankruptcy.
http://biz.yahoo.com/e/091117/trxaq.pk8-k.html
Playing option 2
Wow...gonna say TDA sucks again....got some movement!
I saw it too...TDA for BB and Pinks, Sucks!
Based on action today...looks like shares are non existent. MM's just holding this back.
"They pay us to drink margaritas!" - Jimmy Buffet
Oooops....wrong Buffet...lol
Now a little shake out?
Been a long wait!
Form 8-K for TRONOX INC
7-Oct-2009
Regulation FD Disclosure
Item 7.01 Regulation FD
Tronox Incorporated (the "Company" or "Tronox"), a Delaware corporation hereby discloses certain projections that are being shared with third parties. The projections have been prepared by the Company's management. Such projections were not prepared to comply with the guidelines for prospective financial statements published by the American Institute of Certified Public Accountants and the rules and regulations of the United States Securities and Exchange Commission. The Company relied upon the accuracy and completeness of publicly available information, and portions of the information herein may be based upon certain statements, estimates and forecasts provided by third parties with respect to the anticipated future performance of the Company. Further, the Company's accountants have neither examined nor compiled the accompanying actual results and projections and, accordingly, do not express an opinion or any other form of assurance with respect to the projections, assume no responsibility for the projections and disclaim any association with the projections.
The projections are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of assumptions, risks, and uncertainties, many of which are and will be beyond the control of the Company including, but not limited to, existing and future governmental regulations and actions of government bodies, natural disasters and unusual weather conditions and other market and competitive conditions. Holders of claims against and interests in the Company are cautioned that the forward-looking statements speak as of the date made and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and the Company undertakes no obligation to update any such statements. Future results and developments may be affected by numerous factors and risks, such as the accuracy of the assumptions that underlie the statements, the market value of Tronox's products, demand for consumer products for which Tronox's businesses supply raw materials, the market for raw materials that Tronox uses to produce its products, its inability to predict the prices of such raw materials, the financial resources of competitors, the market for debt and/or equity financing, changes in laws and regulations, the ability to respond to challenges in international markets, changes in currency exchange rates, political or economic conditions in areas where Tronox operates, trade and regulatory matters, general economic conditions, and other factors and risks identified in the Risk Factors Section of Tronox's Annual Report on Form 10-K for the year ended December 31, 2007, and subsequent Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission (SEC), and other SEC filings. The company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.
The projections, while presented with numerical specificity, are necessarily based on a variety of estimates and assumptions which, though considered reasonable by the Company, may not be realized and are inherently subject to significant business, economic, competitive, industry, regulatory, market and financial uncertainties and contingencies, many of which are and will be beyond the Company's control. The Company cautions that no representations can be made or are made as to the accuracy of the historical financial information or the projections or to the Company's ability to achieve the projected results. Some assumptions may prove to be inaccurate. Moreover, events and circumstances occurring subsequent to the date on which the projections were prepared may be different from those assumed, or, alternatively, may have been unanticipated, and thus the occurrence of these events may affect financial results in a materially adverse or materially beneficial manner. The projections may not be relied upon as a guaranty or other assurance of the actual results that will occur.
Please note the following:
All amounts are preliminary, unaudited and subject to change EBITDAR = Gross margin less Selling, General and Administration plus depreciation and amortization, non-cash write-downs/impairments, non-cash pension and post-retirement medical, stock based compensation and accretion plus one-time costs and other items primarily foreign exchange related; 2010 includes $2 million of one-time "catch-up" audit fees
--------------------------------------------------------------------------------
LTM and 2009 - 2013 financial data exclude the Tronox Uerdingen facility which has filed separately for insolvency in Germany and is treated as a discontinued operation for financial reporting purposes; Financials include Savannah pigment, which has been "cold idled" as of September 2009 Financial Summary ($ in millions)
Aug-09
2007 2008 LTM 2009P 2010P 2011P 2012P 2013P
Global Revenues $ 1,426 $ 1,485 $ 1,071 $ 1,041 $ 1,148 $ 1,203 $ 1,241 $ 1,279
% growth 0.3 % 4.1 % n.a. (29.9 %) 10.3 % 4.8 % 3.2 % 3.1 %
Gross Profit $ 116 $ 65 $ 110 $ 130 $ 146 $ 176 $ 183 $ 194
% margin 8.4 % 4.6 % 10.8 % 13.1 % 13.4 % 15.4 % 15.5 % 16.0 %
EBITDAR $ 140 $ 84 $ 114 $ 126 $ 130 $ 162 $ 168 $ 179
% margin 10.2 % 5.9 % 11.3 % 12.7 % 11.9 % 14.2 % 14.3 % 14.8 %
Capex $ 71 $ 38 $ 26 $ 22 $ 96 $ 53 $ 48 $ 47
% of revenues 5.1 % 2.7 % 2.5 % 2.2 % 8.8 % 4.7 % 4.1 % 3.9 %
Titanium Dioxide and Sodium Chlorate
Aug-09
2007 2008 LTM 2009P 2010P 2011P 2012P 2013P
Global Revenues $ 1,380 $ 1,428 $ 1,013 $ 991 $ 1,091 $ 1,140 $ 1,176 $ 1,212
% growth (2.9 %) 3.5 % n.a. (30.6 %) 10.0 % 4.5 % 3.2 % 3.1 %
Gross Profit $ 112 $ 57 $ 96 $ 115 $ 135 $ 163 $ 168 $ 178
% margin 8.1 % 4.0 % 9.5 % 11.6 % 12.4 % 14.3 % 14.3 % 14.7 %
EBITDAR $ 140 $ 78 $ 102 $ 111 $ 121 $ 150 $ 156 $ 166
% margin 10.1 % 5.5 % 10.1 % 11.2 % 11.1 % 13.2 % 13.3 % 13.7 %
Capex $ 69 $ 37 $ 25 $ 21 $ 95 $ 52 $ 47 $ 46
% of revenues 5.0 % 2.6 % 2.5 % 2.1 % 8.7 % 4.6 % 4.0 % 3.8 %
Henderson and Soda Springs
Aug-09
2007 2008 LTM 2009P 2010P 2011P 2012P 2013P
Global Revenues $ 46 $ 57 $ 57 $ 49 $ 58 $ 64 $ 66 $ 67
% growth 24.3 % n.a. (13.8 %) 17.5 % 10.2 % 3.0 % 2.8 %
Gross Profit $ 5 $ 8 $ 14 $ 16 $ 11 $ 13 $ 14 $ 15
% margin 10.0 % 14.2 % 23.9 % 31.9 % 18.6 % 20.6 % 21.8 % 22.5 %
EBITDAR $ 0 $ 6 $ 12 $ 14 $ 9 $ 11 $ 12 $ 13
% margin 0.0 % 0.4 % 1.2 % 1.4 % 0.8 % 1.0 % 1.1 % 1.1 %
Capex $ 2 $ 1 $ 1 $ 1 $ 1 $ 1 $ 1 $ 1
% of revenues 0.2 % 0.1 % 0.1 % 0.1 % 0.1 % 0.1 % 0.1 % 0.1 %
--------------------------------------------------------------------------------
EBITDA represents net income (loss) before net interest expense, income tax benefit (provision), and depreciation and amortization expense. EBITDAR represents gross margin less Selling, General and Administration plus depreciation and amortization, non-cash write-downs/impairments, non-cash pension and post-retirement medical, stock based compensation and accretion plus one-time costs and other items primarily foreign exchange related.
EBITDAR, which is used by management to measure performance, is a non-GAAP financial measure. Management believes that EBITDAR is useful to investors because it is used in our debt instruments to determine compliance with financial covenants. It is included as a supplemental measure of our operating performance because it eliminates items that have less bearing on operating performance and highlights trends in the core business that may not otherwise be apparent when relying solely on GAAP financial measures. In addition, EBITDAR is one of the primary measures management uses for planning and budgeting processes and to monitor and evaluate financial and operating results. EBITDAR is not a recognized term under GAAP and does not purport to be an alternative to measures of our financial performance as determined in accordance with GAAP, such as net income (loss). Because other companies may calculate EBITDA and EBITDAR differently than we do, EBITDA may not be, and EBITDAR as presented in this Form 8-K is not, comparable to similarly titled measures reported by other companies. The following table reconciles net income (loss) to EBITDA and EBITDAR for the periods presented:
Year Ended December 31,
2007 2008 LTM
(Millions of dollars, except per share)
Net income (loss)(a) ($106 ) ($498 ) ($484 )
Interest and debt expense 50 54 41
Net interest expense on borrowings with affiliates
and interest income(b) (2 ) (1 ) (0 )
Equity in net earnings of equity method
investees(b) (2 ) 1 -
Income tax provision (benefit) 43 (54 ) (37 )
Depreciation and amortization expense 112 115 68
EBITDA 95 (383 ) (412 )
Restructuring and Reorganization items - 14 55
Loss from discontinued operations(c) 1 3 127
Loss on deconsolidation of subsidiary - - 1
Provision for environmental remediation and
restoration, net of reimbursements 2 0 (0 )
Extraordinary, unusual or non-recurring items(d) 10 12 7
Gain on sale of assets - (25 ) (7 )
Noncash charges constituting:
Foreign currency (gains)/losses(i) (1 ) 6 7
(Gain) loss on sales of accounts receivable(e) 2 3 1
Write-downs of property, plant and equipment and
other assets(f) 10 2 3
Impairment of tangible and intangible assets - 434 314
Asset retirement obligations(g) (0 ) (3 ) (3 )
Noncash stock-based compensation, noncash pension
and postretirement cost and accretion expense 20 22 23
Other items(h) (0 ) (1 ) (2 )
EBITDAR $ 140 $ 84 $ 114
--------------------------------------------------------------------------------
(a) Net income
(loss) includes income
(loss) associated with our Savannah sulfate facility, which was closed in September 2004, of $(1.7) million and $(3.5) million for the years ended December 31, 2008 and 2007. For 2008, net loss also includes legal and professional fees associated with the company's evaluation of strategic options including the preparation of the Chapter 11 filing.
(b) Included as a component of other income (expense) in our Consolidated Statements of Operations.
(c) Includes provisions for environmental remediation and restoration, net of reimbursements, related to our former forest products operations, thorium compounds manufacturing, uranium and refining operations of $(0.1) million and ($0.8) million for the years ended December 31, 2008 and 2007. LTM loss from discontinued operations includes losses and impairments related Uerdingen.
(d) The 2008 amount represents costs associated with the work force reduction programs in the U.S. and Germany as described in Note 7 to the Consolidated Financial Statements included in Item 15(a) of this Annual Report on Form 10-K. The 2007 amount represents costs associated with a work force reduction program in the U.S.
(e) (Gain) loss on the sales of accounts receivable under an asset securitization, monetization or a factoring program. Net of interest income accreted upon collection of securitized receivables.
(f) The 2007 amount includes $3.8 million related to the raw materials feed project at the company's Savannah, Georgia, facility and $3.5 million related to the write-down of a system project that will no longer be implemented as originally planned.
(g) Resulted primarily from updating our estimates of closure costs (including timing) related to our former Mobile, Alabama, synthetic rutile facility and the former Savannah, Georgia, sulfate facility, which represents extraordinary, unusual or non-recurring items as defined within our credit agreement.
(h) Other items adjusted for per the EBITDAR definition.
(i) The EBITDAR definition for 2008 and 2009 differ in how they treat foreign exchange gains and losses. In 2008, they are adjusted from EBITDAR for 2009 only certain gains and losses are adjusted.
http://biz.yahoo.com/e/091007/trxaq.pk8-k.html
E*Trade: Expect a Takeover Any Day Now
E*TRADE Financial (ETFC) stock price is now in the $1.70 range after trading at $2.08 this week. The price drop may very well be a shake out to accumulate shares as a takeover could be in the works. ETFC had many analyst upgrades; last week with big dog Goldman Sachs raised its rating on the stock to buy with a $2.30 target and said the firm is putting its credit problems in the rearview mirror as trading revs up.
GS analysts last Friday suggested clients buy ETFC shares after the company reported strong client trading during August.
GS said that, despite expected rising credit losses at ETFC, which it sees increasing to up to $1.6 billion, it expects improving trends in the firm's home-equity-loan book and says the worst provisioning appears to be over for its mortgage and home-equity loans.
ETFC is now a buy say the top analysts, so if you're selling under $2 and not buying you will miss out. I believe the upside is over 100% regardless of a takeover. ETFC current stock price doesn't reflect the 3 analysts upgrades last week. In my opinion, investors have a chance to buy shares cheap at the current range.
Analysts believe a takeover is more than likely to happen. Citigroup's Keith Walsh noted last week that ETFC's main brokerage business remains healthy, with stronger growth in customer accounts than TD Ameritrade (AMTD) and Charles Schwab (SCHW). As ETFC mortgage portfolio stabilizes, the company may be acquired by one of these rivals, Walsh said.
"Competitors AMTD and SCHW have both made public comments about the attractiveness of E-Trade's 2.7 million brokerage accounts." The analyst upgraded ETFC to buy from hold and raised the price target from $1.50 to $2.30.
ETFC is gaining brokerage accounts faster than any other brokerage out there with a 138 percent increase in year-over-year new accounts. SCHW and AMTD need to hurry up and grab ETFC before this is back above $5, and I bet it will be come this time next year with its mortgage loan portfolio now stable.
ETFC sold 80.2 million shares in a so-called "at the market," or ATM, offering. This method of raising capital allows a company to sell new shares at the prices prevailing in the open market, as opposed to a secondary offering, in which the company sells stock to a group of institutional investors at an agreed-upon price, usually a discount to where the stock is trading. The New York-based online brokerage said the offering had gross proceeds of $150 million. Sandler O'Neill & Partners acted as the sole distribution agent for the offering.The average price was $1.87 a share.
Shorts will take a massive risk holding short over night. Any morning ETFC could get an offer from $3 to $4 a share or maybe more. ETFC is a now a turn around play. ETFC is well below fair value of $2.70 a share based on book value.
ETFC board of directors scrapped a Stockholder Rights Plan that was essentially a "poison pill" set up in 2001 to prevent a hostile takeover of the company.
"The Rights Plan elimination improves corporate governance, while also increasing the likelihood of the company's eventual acquisition," said Matthew Albrecht, a financials analyst at Standard & Poor's Equity Research.
Think about it? Goldman Sachs suggesting clients BUY ETFC, I bet this will soon be above the $2.30 target. Good luck and don't be tricked into selling.
http://seekingalpha.com/article/163382-e-trade-expect-a-takeover-any-day-now
E*TRADE FINANCIAL Closes Sale of E*TRADE Canada to Scotiabank
Monday September 22, 4:05 pm ET
NEW YORK--(BUSINESS WIRE)--E*TRADE FINANCIAL Corporation (NASDAQ: ETFC - News) today announced it has completed the sale of its Canadian business (E*TRADE Canada) to Scotiabank. The sale resulted in approximately $515 million in after-tax net proceeds inclusive of the repatriation of capital prior to close and net of transaction fees. The transaction will result in a pre-tax book gain of approximately $425 million in the third quarter of 2008. Combined with the other planned non-core asset sales announced this year, E*TRADE will generate more than $700 million in proceeds in 2008.
“We continue to make solid progress against our 2008 Turnaround Plan by monetizing non-core assets to generate capital at low cost in a shareholder-friendly manner, while delivering consistent organic growth in the retail business,” said Donald H. Layton, Chairman and Chief Executive Officer, E*TRADE FINANCIAL Corporation. “The sale of E*TRADE Canada helps to create a substantial capital cushion that we will be able to deploy as needed as we diligently execute against our plan to return our balance sheet to strength in this challenging market.”
During the transition process, E*TRADE and Scotiabank are committed to maintaining the quality experience E*TRADE Canada customers have come to expect. Through the remainder of 2008 it will be business as usual for E*TRADE Canada customers, as E*TRADE Canada and Scotiabank work together to ensure a smooth transition.
http://biz.yahoo.com/bw/080922/20080922006522.html?.v=1
Not sure if that is going on right now or not. I do know they are trying to double the authorized count. I received a proxy vote request on that and voted no.
A lot of "assuming" going on in that article. We all know what happens when you do that....
I guess we will know the truth very soon.
NEW YORK, March 26 (Reuters) - Short interest on the Nasdaq rose 5.7 percent in mid-March, the
exchange said on Wednesday, suggesting an increase in bearish sentiment in the stock market. For
story please see [ID:N26346050]. Below are the five Nasdaq stocks that experienced the largest increases and decreases in their
short positions from late February to mid-March, according to information released by the
exchange. The five companies with the largest overall short positions are also listed. The latest data is as of March 14, while the previous period's data is as of Feb. 29.
Company March 14 Feb 29 Net Change Pct Change
------------------------------------------------------------------------------
FIVE BIGGEST INCREASES:
Level 3 Comm (LVLT.O: Quote, Profile, Research) 223,577,359 198,270,419 25,306,940 12.7
Cisco Systems (CSCO.O: Quote, Profile, Research) 73,069,889 48,631,811 24,438,078 50.3
E*TRADE Financial (ETFC.O: Quote, Profile, Research) 104,396,736 87,660,694 16,736,042 19.1
Intel Corp (INTC.O: Quote, Profile, Research) 75,796,996 64,099,929 11,697,067 18.3
Sonus Networks (SONS.O: Quote, Profile, Research) 41,254,713 31,995,250 9,259,463 28.9
FIVE BIGGEST DECREASES:
Tellabs (TLAB.O: Quote, Profile, Research) 29,089,610 34,452,586 -5,362,976 -15.6
Brocade Comm (BRCD.O: Quote, Profile, Research) 7,832,718 12,270,245 -4,437,527 -36.2
Take-Two (TTWO.O: Quote, Profile, Research) 17,073,502 21,306,591 -4,233,089 -19.9
Keryx (KERX.O: Quote, Profile, Research) 10,333,119 14,370,005 -4,036,886 -28.1
eBay Inc (EBAY.O: Quote, Profile, Research) 29,229,386 32,913,357 -3,683,971 -11.2
FIVE BIGGEST POSITIONS:
Level 3 Comm (LVLT.O: Quote, Profile, Research) 223,577,359 198,270,419 25,306,940 12.7
Microsoft Corp (MSFT.O: Quote, Profile, Research) 123,090,091 115,720,569 7,369,522 6.4
E*TRADE Financial (ETFC.O: Quote, Profile, Research) 104,396,736 87,660,694 16,736,042 19.1
Sirius Satellite (SIRI.O: Quote, Profile, Research) 97,375,012 100,168,164 -2,793,152 -2.8
Charter Comm (CHTR.O: Quote, Profile, Research) 90,953,371 91,482,363 -528,992 -0.6
Source: Nasdaq data as of March 14, Reuters Estimates
(Reporting by Emily Chasan)
http://www.reuters.com/article/marketsNews/idUKN2628236420080326?rpc=44
11/29/07 9:37AM
Going after them with "both barrels blazing" is the approach everyone wanted to see, but probably not the most cost effective approach. This is a dead shell that generates no income. Do you pay high dollar lawyers to perform discovery for you, or do you sit back and let the OSC perform that discovery for free? If the OSC hearing results are positive, then you nail them to the wall at a fraction of what it would cost you going alone and with very solid evidence.
In June of 2006, AWBV had no bid and was trading at .0001, the 10,000,000 shares would have only only netted $1000
"Imagine an investor buying a stock in the morning, then finding market information being announced mid-day that might adversely impact that stock and then being told you can't sell out your position to minimize the potential loss. Freedom to trade is a cornerstone of our equity markets and a fundamental principle in the regulatory schemes that govern the markets."
Hmmmm...I can imagine being told I can't buy a stock though...Ameritrade, you reading this?
Has anyone noticed that Donny Boys pumping of spin-offs is eerily reminiscent of his AWBV Business model? Has he forgotten he's into "minds and bodies" now?
They actually responded to the e-mail that I had sent 2/16/07, not my most recent e-mail.
It is certainly beginning to look like the May 31st divy is in fact divy #4.
Interesting note on the bottom of the form:
"† The Board of Directors of the Company cannot offer stock dividends on a quarterly basis without having the shareholders reimburse the Company for the printing cost per each new Certificate, transfer agent costs, shipping and handling, all of which are included in the amount quoted of $20.00 per Certificate. If you are requesting a dividend in two of the three companies above, the amount of the charge would be $20.00 x 2, or $40.00, for all three companies, $60.00. "
especially the line..."the Company cannot offer stock dividends on a quarterly basis without having the shareholders reimburse the Company"
hmmmm...quarterly dividends...
Hmmmm...a good hypothesis, but who in thier right mind would buy those large chunks at .30-.35?? I would guess only someone who was very short!
A low open may be a good thing. Might keep a mass exodus from occurring.
I posted the following on the CIRU board. It appears from responses that Starliner is still involved in CIRU. I'm curious if they still hold a large percentage of CIRU? (BTW...this is in Ameriturd under Fundamentals for CIRU)
"Cirilium Holdings, Inc., formerly SK Technologies Corporation, is engaged in licensing retail store management software for the specialty retail industry. The Company's StoreKare product family is a modular system of information technology (IT) products. On September 12, 2001, the Company entered into a license and consulting agreement with Synchronics, whereby Synchronics licenses through December 31, 2003, all of the Company's right, title and interest in and to StoreKare software and certain other related assets. As a result of this agreement, the Company has limited operations and is not developing any new products. On April 1, 2004, Starliner Systems Inc., a British Virgin Islands corporation (Starliner), made cash payment to certain shareholders of the Company. Starliner beneficially directly owns 75.7% of the issued and outstanding common stock of the Company."
Does anyone know what happened to Starliner Systems Inc. ? Are they still linked to this somehow?
"Cirilium Holdings, Inc., formerly SK Technologies Corporation, is engaged in licensing retail store management software for the specialty retail industry. The Company's StoreKare product family is a modular system of information technology (IT) products. On September 12, 2001, the Company entered into a license and consulting agreement with Synchronics, whereby Synchronics licenses through December 31, 2003, all of the Company's right, title and interest in and to StoreKare software and certain other related assets. As a result of this agreement, the Company has limited operations and is not developing any new products. On April 1, 2004, Starliner Systems Inc., a British Virgin Islands corporation (Starliner), made cash payment to certain shareholders of the Company. Starliner beneficially directly owns 75.7% of the issued and outstanding common stock of the Company."
Sorry...wrong broker. It was not Ameritrade.