SwingTrade Member Forum

[Timing]

ONTV....100% of today's volume mine...

DON't JUMP GUN! Understand risk before you buy!

You could easily lose 90%

Read carefully.....


Fundies are a dream! But the CEO is basically stealing the company from shareholders. The stock ran to 17 cents after last Q's killer earnigns (forward P/E based on last Q's earnings about 1.6). The CEO claims that he is buying the profitable part of the company as a favor to shareholders because the stock price is too low....TOTAL SCAM!!....for $300,000. He is going to leave the stock totally worthless if it goes through. However, under Delaware law shareholder have a right to dissent and the court will assess the fair value of the stock, which the company has to pay the dissenting shareholders. The filings of the company state that if shareholders representing 500,000 shares exercise their right to dissent the purchase may not go through. So far I have 83,000 shares (total volume today) and will probably double that. There are two senarios for those who buy now. 1) Hope that there are enough dissenting votes to prevent the purchase by the ceo. If that happens, ONTV is going to SCREAM...and I mean SCREAM!!!! 2) If the purchase goes through shareholders should exercise rights to dissent and hope that Delaware court is fair. I think this is going to be quite profitable for me no matter what, but if I am wrong it is worth the challenge....here are some fundies:

3 previous Q's of earnings.

P/E of 7.5

Forward P/E based on last Quarters earnings: 1.6 ! ! ! ! ! ! !

Market cap 711.63K

52-week high $.17 cents

52-week low $.02

Current price: .032 x .035

Float: 10.14 Million shares.

Cash on hand: 2.2 cents

Book: $.009

Price/Sales: .13

http://finance.yahoo.com/q/bc?s=ONTV.OB&t=1y

Be prepared to lose all money if I am wrong...

And whatever you do, don't be as dumb as me and buy several thousand bucks worth!!!!

Timing