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shall see if volume is more than today's. then it will be a more accurate indicator.
anyone have L2 on this?
i see some volume this morning.
waiting for even just some volume. 0.001 would be nice enough, as long as no RS.
howard, is this for real?
anyone know what % shares were exchanged? is it extended or that was the end?
that was a big burst of volume to clear us of the 1s at ask. saw the 2s, but now back to 1.
just picked up some shares. the increased volume caught my attention.
if you use Questrade, they have just emailed out if clients wish to accept tender offer. check your email.
anybody exchanging shares to preferreds?
thank you. hope we dont' have to use that with wehi down the road.
trader, thanks for that. if a company is delisted and is no longer trading on any exchange, can it be written off ($0.00)?
hope we all do well one way or another. one of the stumbling blocks in life...we'll move through and get back on track.
i was thinking if nothing happens, it's worth $0. I wasn't thinking of claiming tax yet.
i've put in instructions to exchange my shares. i figured i have nothing to loose, as at current 0.0001 it's a write-off already. and if the company does go belly up, either way i'm out of money anyhow.
any thoughts on 2009? will the pink sheet market get hot again, people willing to take more risk?
anybody using Questrade as their broker, they are able to take care of the exchange for you, should you wish to exchange. you can do so under Corporate Actions.
questrade will do the exchange for you, and exchange back to common, directly into the account should conversion be indicated and approved.
is TDA taking care of the exchangeing of common to preferreds and preferreds back to common after 6 months? that means u don't need to request a share certificate and send it to the company?
i called big apple today. i didn't them much help. i asked what's the process and they said to refer to the pdf file on the website. i said it doesn't say how an investor is ensured they will get the preferred shares in return for surrendering the common share certificate. he said it's written here that they will. so i said, that means a no, no agreement or anything that is signed to say they will send in return the preferred certificate. he had nothing to say.
then i asked what the process is from exchanging preferreds back to common. he said he doesn't know what that process is and that it doesn't say anything on the document about it. he said to ask my broker, and i thought, what does the broker have to do with this?
last question i asked is if he knew any canadian brokers (i'm a canadian resident) who would accept and deposit pink sheet certificates. he said he doesn't know. i said, so if i exchange into preferreds and get back common cert, and there's no place to deposit it, it's of no value as i can't sell anything. again, he said nothing.
i said thank you and hung up. all in all, not a very helpful nor of any optimism.
interesting. would you be able to find out more info and post it on this board about the reorganization/tender offer?
who is converting? you can PM me if you like. i have a couple questions for those who are going through the thought process. thanks.
what was your reasoning for not converting?
i'm trying to decide whether to convert mine for another stock in the same position. TIA.
which broker accepts & deposits pink sheet certificates if we choose to accept the exchange?
are any of you canadians who converted shares to preferred shares? i asked the brokers here in canada (TD Waterhouse, Questrade) and they don't accept and deposit otcbb/pinksheet stock certificates.
ur right, the share offer is exactly the same for xxis and wehi, except the holding period is 3 months for xxis and 6 months for wehi. if you go to the website and look at the actual exchange offer memo, it's the same thing. seems to be a template.
has the exchange of common to preferred shares done anything for the stock? they reversed the stock even after the exchange was completed?
i'm not bashing the stock, but this is what WEHI is doing, with the exchange of shares into preferreds; just trying to learn and see what I should be doing with the shares I have.
please note i didn't make those illustrations up. it is from the exchange offer from the wgl website:
http://www.wglentertainment.com/
http://www.wglentertainment.com/pdfs/Offer_to_Exchange_Common_Stock.pdf
conversion illustration below. it seems like u can't loose, that you will get $1 in value no matter what. am i missing something?
Illustrations of conversion rights:
(a) Assume you hold 1,000 shares of Series B Preferred Stock. Assume further that the closing price of the Common Stock is $.50 per
share. Because you have the right to purchase these shares at a 20% discount, your cost per share on conversion is $.40. The number
of shares of Common Stock which you can receive upon conversion will be 2,500 shares ($1,000 divided by $.40 per share).
(b) Assume you hold the same 1,000 shares of the Series B Preferred Stock. Assume further that the closing price of the Common Stock is
$0.05 per share. After your 20% discount, the number of shares of Common Stock which you can receive upon conversion will be
25,000 ($1,000 divided by $0.04 per shares).
didn't MTPR do a preferred share deal where investors can exchange for preferred shares worth much more than current pricing, at the time of the deal? would anyone tell me if they'd submitted the shares and what they got in return? did you make money?
it seems Big Apple is doing the same with WEHI, exchange 1000 shares for each new share, and the new shares worth $1, compared to current 0.0001$. thoughts?
reverse merger.
any updates to the merger?
all we need now is for the reverse merger to occur, and some news of revenue/contracts for either power3 and/or stemtronix.
if that PR is of validity, we will be trading as stemtronix in the future.
per the power3 PR: "As previously announced, StemTroniX, Inc. intends to become a publicly traded company through a reverse merger with WGL Entertainment Holdings, Inc. (OTCPK:WEHI)."
u aren't alone. still positive on wehi.
interesting PR. not whatt i was looking for.
second that to put in inbox.
hopefully we can get similar docs for the merger. perhaps this was the first step.
anyone know if the new series of preferred shares are part of the merger deal? clear out the common, issue new preferred shares. thoughts?
at current prices, yes. and it's restricted, so you can't actually sell freely. u have to do some paperwork first.
great stuff ajab. the comopany is for real. it's already too late to get your share of zcmn as dividend, as it takes 3 days for settlement, which means you'd have to have bought WEHI back on friday to have your stock settled to be on record Oct 1.
awaiting merger news. we will rock!
will we get a PR monday? what are the following events after this PR?
rock and roll. after merger completes, we trade as stemtronix.
next week should be jam packed:
- expecting news either monday or tuesday on LOI Stemtronics
- monday is last day to be of record Oct 1 for ZCMN dividend
- waiting for preferred shares dividend PR
once merger closes, 95% reduction in OS, and trade as stemtronics.
until then, have a good weekend!