Stanu78, thanks! PYOL at $6 is wonderful, and may the person the bought today at $6 have even better results! I have no idea why there is this rise in the stock, nor is there anything that I know of that is happening with the company... really, if anyone does know of something, let us know!
To answer your question, I haven't sold any, and it would be difficult to do so, unless someone wants to bid for a big block of stock. Some people thought I was nuts not to sell at $1 I'm in the same situation as the family and other insiders, who haven't reported selling any. I sell, I have to report it, then the MM's would just take advantage of it.
The stock price rise may open up some doors for the company, just in itself. I'd love to see it get listed on an bigger exchange... it qualifies for the Nasdaq Small Cap, and is only short by $750K or so in market cap for an Amex listing. That would make good currency for acquisitions.
The other way for the insiders to get value would be to sell the company completely, or do a reverse merger with an even larger company that would want the history of a 95 year old company. That could grow it and increase liquidity as well.
Otherwise they have to really start working on developing their properties and capitalize on their cash on the balance sheet.
A 12 million market cap is still very small. Subtract the current assets of cash of ab out $2 million plus other current assets, the enterprise value is valued at less than $10 million.
There has been very little selling, and some agressive buying. Again, why I don't know. At the close, there were 3 marketmakers near the last price... and only 2 at $6, the next was all the way up at 7. There was only one MM over $5 yesterday. Perhaps someone got really short? I never knew where they were getting all these shares to sell in the first place. Whatever the reason for the rise, God bless those that are making it happen! Hopefully more to come!
AI
