DC, I read it from the news that they will get the financing. Since we are now far away from traumkeks and others's distraction, we might have a clearer picture here.
Let's put it this way, if we are simply speculating the deal, with no fact so far on the positive or negative side... we shouldn't bash a company or hype it.
The only negative speculative reason:
If the 0.5M big selling after the news about it can last till Christmas was sold by the management, like Jeff and people.
We can't confirm that, so it's nothing to me, other than panic selling and short selling. The people on RB are saying the IR can't explain the preferred shares deal... it's very common, because they really don't know. I have seen gazillion number of brokers who don't know what they are doing... don't know this, don't know that... <ggg>. Well, it can be true that they are hiding something, but what should be said was put on the SEC filings, right? The IR should try to explain the deal, but they don't have to theoretically.
The positive speculative reasons:
Standard Radio will like to put in an extra million just to let GLMC to live a month longer, who will be that stupid? We are not talking about traders here, companies invest for big longterm return. Consequently, this short-term financing is used to buy some time for the big financing, due to the paper work and stuffs, IMHO. Even if you don't consider this as a positive speculation, what makes it a negative one? NONE! Except the crying babies on RB. What would happen when newbies see those negative posts? They panic, and it doesn't matter if the stock price jumps or tanks... they got panic right after reading the bashers' posts. Why? because they don't have enough knowledge to justify the current situation.
Jeff and people, they have to put in their own money for this deal, so getting their shares unrestricted should be understandable from my point of view. What if GLMC couldn't get the financing, then they can protect themselves... people are selfish by nature IMHO
Positive fact:
"I hope that the current investment by the Standard Radio group and myself signals the confidence in and commitment to the Company that Standard Radio and I feel. We also welcome David to the Board and thank the outgoing Directors for their valuable contributions."
Read what it's been printed on the news and SEC, they haven't sold their shares, so you have to believe in what's on the PR, because if they are misleading, they will get into trouble.
I understand that the long downtrend might have made certain investors being skeptic about the company... however, if you have already thought that the money on GLMC will be used for tax loss purpose, then why don't you wait till the end and see what will happen? It doesn't make any difference now, right? Try to detach yourself from where you got the stocks, try to think what's going to happen next, and what's happening now!
If the management did sell tons of stocks, I will short it, because they deserve to go to hell... only if...
What's the downside now? If it is just a gamble, it has a better odds to go up much more than go down, true? Then why panic? If they can't get the financing, short it, and make some money. When they get the financing, I'll jump in right away, provided that the price hasn't jumped before the news. That would be my trading strategy.
Price target... I don't like to give price target... but if they get the financing, a 100% jump from here won't surprise me.
Hope this helps.
signed,
Bernard
