I could not see it taking very long. Based on my dd, Socal was created to own PBB. When the capital patners had to pump 12 more million into PBB they made an agreement with the federal reserve not to issue any more stock and other things because of the debt from PBB and Socal had debt as well. Due to the fact the capital parteners own Socal, they also own the debt. The logical thing to do would be pay the debt off with some of the merger proceeds and Bam!!!!!!! Our stock is back in play.
The pr stated that socal only got 3 percent to pay its creditors. That is a true statement but it was all owned by the Bel. Capital Patners. They will have to pay everything off and it is their best interest to put the low float stock back in play with the now much stronger company in place. The timeline is a unknown because they must have everything approved by the federal reserve. The good news is that this will not be a shell game to make the ceo rich and we do not have to worry about dillution. This stock will go crazy with buying pressure. The float can easily be absorbed by the people connecting the dots long before the news is released. My guess is about 30 to 60 days. But it could be sooner. One thing about it, if they put this stock into play with the new company it is going to multi dollar land in seconds. I am just not sure what hoops they will have to jump through and how long it takes. I am going to pick up some more cheap shares and hold out for the game changing pr. The payoff could be second to none when they wrap this up.
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