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Wednesday, May 12, 2010 9:10:31 AM
As background, I am pretty heavy long from between $0.53 and $0.85 a share, in both taxable accts and various IRAs. I am also a full time trader but I don't trade this stock. This is a wealth builder for me.
For those who saw the $10 price on the Preferred, you should know that Preferreds usually have a conversion rate into regular stock at multiples, not 1:1. So in this case, using their more simple formula (yest VWAP * 0.88 (which is cute given the name of the investor) - let's say that yesterdays VWAP is $2.20 (it isn't I am just using as an example). Multiply that price by 0.88 and you get $1.94 a share. So in this case, they could convert one share of the Preferred into just over 5 shares of NNVC. If the VWAP goes down, they get a better multiple, if it goes up they get a lesser multiple.
It is just an example, but it should help clarify. Also note that these guys are getting a 10% "dividend" of shares so that is additional shares they get from the deal.
One point I want to make about the various exchanges. I have traded them all and I can tell you from experience the AMEX is not an exchange you want if you want to limit the Market Maker games that go on. In my experience the AMEX has big spreads and often bad fills. The Nasdaq is an electronic exchange so most of that market maker garbage is toned down. Not to say they can't play games with the computers (they do) but personally, I would much rather see us on the Nas than the AMEX.
Again thanks to all for your insight and knowledge here!
- Mikey
Recent NNVC News
- NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • InvestorsHub NewsWire • 05/02/2024 02:07:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/16/2024 09:53:32 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/14/2024 09:55:35 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/19/2024 09:44:48 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 12/04/2023 09:08:49 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 10/13/2023 08:30:41 PM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 09/28/2023 08:44:54 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/01/2023 08:46:45 PM
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