longdriver, you raise important points. When GAAY merged with TMM, the shareholders approved the new TMM capital structure (the VC's preferred shares, stock preferences, multiples, interest bearing %'s,etc) by proxy. Of course Olsen retained a disbarred attorney to tally the shareholder votes, but that's another story. In the case of TMM and Cinemax, there was no merger, no disclosure of the new capital structure and no vote by the common. Fan acquired 53% of the o/s from Olsen to acquire TMM's liabilities and simply sold the QBID public vehicle to himself at Cinemax. The WA SoS filings reveal that the preferences for new classes of serial preferred, 25 million shares, are completely at the discretion of Fan & Gouveia and they do not have to disclose the preferences to the common shareholders. Fan & Gouveia have complete control. What Able Group gets is a total mystery to the common shareholders. We DO know that the new serial preferred were unaffected by the R/S and have a .001 par value. If ABLE GROUP has liquidation rights like QBID's VC's had, even if the bid goes to .0001, Able Group can continue liquidating @ .001.
As for "not much volume", it appears all the shares being traded are being hedged by unissued shares. The DTCC still hasn't transfered any CPPC shares to the TA to transfer to shareholders brokerages accounts.
It appears things have changed around here and factual posts are, for now anyway, allowed to remain. ;0)
brute force - Thanks, kind of what I summized as to what is going on. So within the covenants of this agreement is a share price that will allow Able to sell stock in the open market. I wouldn't be surprised if it is around where we are currently trading at. I don't know how we can figure that out, especialy with a Canadian company. It's hard enough with U.S. based ones that typcially get involved with Cornell. The lower it goes, the more shares that Able will dump into it since their is a factoring mechanism that increases the amount of shares relative to the price.
Able will have this structured to allow them to get the bridge financing funds back quickly and then have what we longs call "free shares" to dump into the market and hence their ability to get massive returns for their clients.
There is also a time lockup period before they can commence their activity, which gives the insiders time to dump as well.
There isn't much volume at the moment, but soon it should pick up with slow decreases in price. They probably will have some kickback schemes in place with the MM's so they can get their cut to keep the price as high for as long as possible.
Since I am writing a "calling out post" anyone want to bet to see how long this post stays out there before it is deleted??
News 
Market Data 
Discover 
AI
