Okay, first off it may not be for Cross River it may not be for anyone in particular, it may be for someone that has already been in talks with the company through Rothschild who is no doubt behind this move as they are the ones handling a buyout if any occurs.
Cross River has never stated they want to buy the company publicly when they first filed the 13D as an activist investor they said it was because the company was extremely undervalued. They have/had talked with the company in regards to their purchasing such an amount and may or may not have had something then or since then to say in regards to getting the share price up.
Or they could indeed then or since then been discussing the possibility of acquiring the company with another fund/institution or private investor or company. The truth is no one knows, not even Francesca's, they know as every one else does the companies stock has been hit hard by shorts, misleading/erroneous blogs etc for whatever reason.
I always say hedges, short groups who hold large positions short have been the majority of it, that's not conspiracy thinking its just common sense. No one would go through the time the effort to set up 20-30 fake websites posing as legitimate news/media sites to run a stock down and continually post erroneous information, there would be no point.
In this I am referring to still now the posting that institutional sentiment is down (they are unloading the stock) when the on the contrary the opposite is true, if it weren't there wouldn't have been this filing of a poison pill today, there is obvious a lot of interest in the companies stock. They reprint all the information about the stock being sold and finds liquidating their positions in December 2018 and Jan/Feb 2019 its like why? Why would someone/group do that if they didn't have nefarious reasons? Why not post that Shah Capital during Q1 started a position of 2 million shares? Why did they not report that in Q2 Shah capital increased their position by 18% and now almost hold 5% of the company? Shah Investment is just one example, AQR CAPITAL MANAGEMENT LLC added 2 million shares and Russell Investments Group, Ltd. added 2 million as well Q1 during the meltdown don't here the short sites on that just the ones that sold 6 months ago, well it is time to start living in today August not January.
But you get my meaning 10-12 of these phony sites a day someones 25 times post only the negative shit like its real news or relevant when its not, why would one do that? Sure 20-30 funds unloaded 4 million shares in Q1, but 3 funds added 6 million? What of it? To endlessly release this "news" like its today is superfluous except if one has nefarious intentions.
But anyway back to the poison pill, the poison pill is a whole lot about a whole lot of nothing in regards to Cross River they can buy as much of the stock going forward as they please. If they are truly not into buying the stock as a takeover and just see it as an incredible investment it is meaningless to them, but does protect them and all shareholders mainly large ones that they are good, no funny BS is gonna happen because that trigger is there, the legal jargon is convoluted but after reading it dozens of times what it comes down to is this.
Anyone with a mind of trying to buyout the company or control of it for what it is trading for just got a rude awakening. Its not going to happen. If it is triggered yet, or will be I think I have it then the next sentence turns my thoughts around but that is besides the point. At the end of the day lets say it is triggered already, everyone as of August 15 holding stock gets a right to purchase 1/5000 of a share of preferred stock for $18 per. The "rights" to do this will be sent to each shareholder in paper form August 29th and that dividend/right will be good until 2022.
So no one has to buy any stock or parts of stock nor will anyone buy any. Some shorts were posting on some boards to day people better sell because the company was going to force them to buy more stock etc that's BS. Its a right to, that in case someone trying to buy the company out for under fair value which is somewhere around 20-21 they can't holders will then be able to purchase the preferred stock or fractions of thus making the buyout in a hostile way unpalatable. Its only done as defense thing, like a porcupine balling up, it like yeah you may still eat me but its gonna be far more dear than the price you are thinking you will be paying. Its like having an open carry permit, a potential thief will pass you buy and look for easier pickings, doesn't mean you need to shoot them or even point it at them, they see it, they know, they move on and act like they have some sense, to put it plainly.
The poison pill deal started getting used in 80's with all the takeovers and backroom hustles and shady seals where shareholders etc got screwed by whales, real whales not Ihub/Twitter whales, people who really have money, there is being rich and being wealthy the two are not the same.
What this filing also did was put it out there, hey, we aren't going bankrupt things are doing quite well now that we have turned this puppy around and we have something to protect here because it may be trading at 3-4 but we know as do potential whales that its worth a hell of a lot more than that and we are going to protect the shareholders of the company, so fuck off with the BS.
Next week the story will become more clear, I say this as all holders of the stock will be reporting their positions before the 15th of August with the majority coming in August 7-15th some have already like this last week Shah capital has but the majority come in starting on the 7th onward. I say more clear as the company during Dec-Feb last year had a large unloading of the stock occur by many institutions when the stock dipped below a certain price threshold. This did 2 things, it made regular investors wish to flee and put an enormous amount of stock out there to be shorted, manipulated etc. Gave the sentiment that no one wanted it, all were running for the hills thinking the end was near.
Some didn't like Shah Capital they opened a position, but they aren't subject to the threshold rules many of the larger institutions are. Many did stick it out, many added, many started positions but that still was not enough to outweigh the ones that left as well individual shareholders. After something like that it takes a while for a stock to get back into new positions, added to old ones etc. There needs to be seen that things are turning around, changes are being made etc. we are getting to that now, the stock moves a lot more easily to the upside 3-5K shares bought at the ask moves it sometime .25-.35 and like today when 35K hit the bid in three pieces the stock held getting swallowed up, like the other day when 45K hit the bid and got allowed, well we found out who bought those.
Its a chess game now, I mentioned on this board a couple weeks ago that big money is taking hold of this thing, small money only thinks its in control, the poison pill filing proved that, that is out their to protect against big money its a chess game now and it is all getting sorted out, Q ends Monday I think I am still of the mind an update is coming especially after this filing, the larger holders the ones holding over 80% of this company at the moment and growing by the day, they more than anyone are looking for some guidance and they "do" get their phone calls answered.
We shall see, I am looking forward to next week from the 7th-15th especially dozens of firms reporting to the SEC on their positions will be interesting to see, are there any others out there that have been getting Cross River deep as well, did more than just Cross River get the directors attention?
Is going to be very interesting going forward, its not something I personally would want to play at this point to close to the promised land and anything any filing, update etc can come at any time in the next week. All the BS and lies and bloggers nonsense coming to an end.
I know this post may be just as convoluted as the PR/8K etc dubey but I get confused reading those things, the minute I think I got it sorted some phrase/sentence gets thrown in and I am lost again.
But, Cross River or anyone else holding now or adding its means nothing, only ones that had bad intentions got a smack in the mouth and the market got hey, the shits all good here, we have something worth protecting s STFU with there Bk talk you are talking out of your ass, to put it bluntly. Good times ahead, you will remember this ride for a long time to come, like I have said here before its not a PIR 2009 but its a close second, it will be one you chat about in the future with investor friends.
Never chase, catch bids if you add or start we are getting loser by the day.
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