Rights Offer at $2
Since HKN is not putting out a PR to announce this ... I figured I would post my most recent post on Investor Village:
""10Q November 4th, During Market"
I understand not issuing a Press Release on a PRE 14A ... but not one on a Rights Offer is beyond me?!?! Especially, when the proposed Vote is after the Exercise Date; maybe they are waiting for the DEF 14A???
It is very frustrating that the only way someone would know about the Rights Offer, is if they read the SEC Filings ... but it does benefit Investors who do their own DD, and ones who have 'loyally' owned this for many years
I bought some yesterday ... based on my math, "If you bought 10,000 Shares at $3.68. You would acquire the Right to Buy 7,454.5 Shares at $2.00 on January 5th ... making your Average Price per Share $2.96" ... and based on the previous Rights Offer (Up 7 fold, in 7 months ... and grossly under subscribed), UniPure having no Cash to Buy their share, and the lack of Market knowledge of this one, I figure I should be able to get a lot more with the 'Over-Subscription Privileged' ... so my Average Price will be around $2.75?
Buying Today ... HKN would have to Sell for below $2.75, before I lose any money on this Offer ... and with the expected announcement of Increased Production and Revenue, GED's Tilodiran 4 & 5, the Technicals catching up to the Shorts, some Insiders Buying after the 10Q, and any positive news on BriteWater ... give me 'hope' my upside potential is much greater than $1 below today's Price!!!"
