1. The company entered a divy in the form of a forward split YESTERDAY 7-19-11 and any shareholder prior to today will have to wait 7-10 and probably even 2 weeks or more for the shares to be exchanged just look at the PR from the day before 7-18-11 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65348577 Now whether the company is trying some sort of test short squeeze by giving a divy, and having the shares exchanged, and a CUSPID change, or they just decided to do it.. what it caused was a HUGE shortage of available shares to trade on the market1 This may not run like GBOED...because its not a F/S R/S mistake... This is a SUPPLY & DEMAND play right now... I had to wait weeks on other stocks, for shares to settle in my account....
Bottom line is we only need a few days of strong buying pressure to lock up whatever shares are being sold now! If you combine the above scenerio with todays $50 million. NEW$$$$$$$$$$$$
We might have the "D" suffix removed from the ticker sooner than we expect. The ball is rolling for the official regulatory authorities to communicate with one another from my understanding.
I have put together a quick valuation in some of my notes based on today's news. With the news today, MGRN(D) is "Fundamentally" worth .011 to .08+ per share; that's even with the updated OS .... This PR today was more powerful than what I think some had expected as it really does establish a new base/bottom for the value of MGRN(D) and really sets the stage going forward. I think that this could be the start that many of us have been hoping and waiting for. v/r Sterling
The company would also like to point out that existing shareholders will not be able to sell their existing shares for approximately 7-10 business days depending on how fast their brokers are able to provide them with their post-split shares. The company is urging all shareholders to contact their brokers right away and request that the broker send their shares back to the transfer agent as soon as possible so that the transfer agent can issue & mail out their certificates with the new CUSIP number and the additional 3% of shares
Think about it the broker has to send all the shares back and wait for the... the transfer agent can issue & mail out their certificates with the new CUSIP number and the additional 3% of shares Im sorry the company is being very conservative with their estimates. I honestly think 2 weeks is what people can resonably expect, but hey we shall surely see when shareholders start posting when they get their shares cleared for sale... Im saying 2 weeks!!!!!!!!!!~common cents