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Monday, August 31, 2009 1:09:13 PM
Additionally, Mr. Sillerman said, "Artists and entertainers will realize tremendous benefits and opportunities through CKX. We intend to establish a new and different standard in the entertainment industry, whereby -- for the first time ever -- creators and artists will fairly share in the upside of their work."
http://www.elvis.com/news/full_story.asp?id=754
Now why in the world would this prove to be so relevant?
Well, up until 2002, CKX had around $5 million in sales. Then they had ZERO sales for two years and were losing 2 cents EPS. Declining sales over a FOUR year period. The stock was 10 cents and in the span of 3 months, went to $30 upon this announcement and the resulting upsurge in sales.
As for the stock? 94 million shares outstanding. As for the sales? They shot straight to $120 million. As for the profits? None. A loss of 35 cents EPS. Now, 4 years later? Sales of almost $300 million and earnings of 12 cents per share.
As for the exchange? OTC and then moved to Nasdaq
Sure, absolutely the stock came back down to $6. In the meantime, we will all decide where we sell DKAM at or near $30 because we know it will back down eventually. That will be OUR problem to resolve and not that of those that think otherwise.
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