Replies to post #3276 on Act Teleconferencing Inc (fka ACTT)

[1manband]

Nothing has changed - facts are facts. If there were any changes to the preferred stock and the liquidation preference, it would be in the Colorado Secretary of State filings. But, of course, there are no changes. The facts remain the same.

The preferred holders, as per the annual meeting and financial statements from last year, were owed $109 million, which grows 44% every year. Which means this year they are owed about $150 million now. Much more than the $44 million buyout, which means it all goes to the preferred holders. Every penny.

Can't argue with facts. Read the SEC filings. And here is the kicker. Even if for some strange reason the amount owed to the preferred holders were less than the $44 million buyout, the common shareholders would still receive nothing! The reason is because the preferred stock liquidation preference increases by 44% a year, every year, forever. All they would have to do is wait for the 44% increase per year to raise the liquidation amount due above the $44 million buyout before they liquidated! Guaranteed that the preferred holders will receive it all, and the common shareholders receive.......nothing. Nada. Zip.

[The Rainmaker]

Preferred stock does not expire just like common shares don't expire. Either the preferred shares were cancelled or they still exist. Is there any filing since 1995 showing the preferred shares got cancelled? SOS might have a filing canceling the Pref shares. Anyone find anything canceling them.

[odiaz28]

Atlanta-based PGi, a company that specializes in online event management, said it is acquiring ACT Teleconferencing for about $44 million in cash.
ACT Teleconferencing, based in Lakewood, Colo., provides audio, video and web-conferencing services. It has has projected annual revenue of about $45 million and operations in North America, Europe and Asia Pacific.


Am I missing something??? there is no buyout, this is an acquisition period...PGI is now the new owner of ACT right??? so whos to say they don't leave it alone and continue being ACT as a subsidiary of PGI, I mean with a projected revenue stream of 45 million I see no need to do a thing and let the company make money...maybe im wrong but I may be right...no one knows what PGI will do with ACTT...as of now I see this as a great speculative play (like all pink sheet stocks are) the only reason the PPS will tank tomorrow is because of the immediate attacks that this stock is a pos....which is completely speculative, unless of course they know for a fact what PGI is going to do and in that case that's insider trading...HDOG im in this with you...the potential here is massive, the only real way to see what is going on here will be to either wait for an 8-k or call PGI...